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200302651 coverage, not otherwise required by Lender, for damage to, or destruction n( the Property, such policy shall include a standard not clause and shall name Lender as mortgagee and /or as an additional loss payee. fit the event of loss, Borrower shall give prom t notice to the insurance carrier and Lector. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whetter or not the underlying insurance was required by Lender, shall be applied to restoration or repair ofthe Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the riytI to hold such insurance proceeds until Under has had an opportunity to inspect such Property to ensure the work has teen completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Iznder may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings an such proceeds. Fees for public adpusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds aid shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be with die excess, if any, paid to Borrower. Such insurance If Borrower abandons the Property, Lender may matters. If Borrower does not respond within 30 days to a claim, then Lender may negotiate and settle the claim. T event, or if Lender acquires the Properly under Section 22 rights to any insurance proceeds in an amount not to excee and (b) any other of Borrower's rights (other than the right d by this Security Instrument, whether or not then due, shall be applied in the order provided for in Section 2. late and settle any available insurance claim and related use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, mid use the Property as Borrower's principal residencewithin 60 days after the execution of this Security Instrument and shall continue to occupythe Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which arc beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property, Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whetter or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determine pursuant in Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds ter such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. If die insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Under or its agent may make reasonable entries upon and inspections ofthe Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Iznder shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if during the Loan a plication process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave trisect ally false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limit conceming Borrower's occupancy ofthe Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights ender this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (.such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement ofalien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Under may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessing the value of the Property, and securing and /or repairing the Property. Lender's actions can include, but are not limited to; (a) paying any sums secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change lacks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and haveutilities turned on or oft: Although Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any oral] actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions ofthe lease. Ifftorrower acquires fee title to the Property, the household and the fee title shall not merge unless Lender agrees to the merger htwrithhg. 10. Mortgage Insurance. It Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower ofthe Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shal continue topay to Lender the amount of the separately designated payments that were due when the insurance covcrag;ucasedtobeine ect. Lender will accept, use and retain these payments as a non - refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be ran- refmdable, notwithstanding the fact that the Loan is ultimately paid in fill, and Iznder shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Louder again becomes available, is obtained, and Lender requires separately designated payinents toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a nun - refundable loss reserve, until lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 i ficds Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Lxam as agreed. Borrower is not a party to the Mortgage Insurance. NEBRASKA S,,le Family — Fannie Mae/Freshie Mze UNIFORM INSTRUMENT Form3028 1 /01 I ➢nye OOfb ➢<ger) 9750,CV (1/021 1W IN GOTO(ON4016)