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200303732 coverage, not otherwise required by Lender, for damage to, ii destruction of the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an addition.11. ss payee. In the event of loss, Borrower shall give prom notice to the insurance carrier and Lender. lender may make proof of loss if not made promptly by Borrower. Unless Lenderand Borrower otherwise agree inwriting, anyinsumaceproc ads, whether or not the underlying insurance was required by lender, shall be applied to restoration or repair of the 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 ri lit to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress papnents as the work is completed. Unless an agreement is made in writing or Applicable law requires interest m be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of[he insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied m the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offn-edto settle a claim, then Lender may negotiate and settle the claim. The 30 -day period will begin when the notice is given. to either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's insurance pro LCICS covering the Properly, msolar as such rights are applicable to the coverage ofthe Property. Lender may 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 nut then duo. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one yea after the date of occupancy, unless Iender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection ofthe Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or Commit waste on the Property. Whether 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 determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property ifdamaged to avoid further deterioration or damage. Ifinsurance 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 for such purposes. Under may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Ifthe 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. Lender or its agent may make reasonable entries upon and inspections ofthe Property. Ifit has reasonable cause, Under may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time ofor prior to such an interior inspection specifying such reasonable cause. S. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at die direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to pDrovide Lender with material information) in connection with the Loan. Material representations include, but are not limitedm, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal over this Security Instrument or to cnloree laws or regulations), or (c ) Borrower has abandoned the Property, then Lender 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 repairini the 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 die Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate budding or other code violations or dangerous conditions, and have utilities mined on or off 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 or all 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. acquires fee title to the Property, the leasehold and the fee title sl 10. Mortgage Insurance. if Lender required Borrower shall pay the premiums required to maintain die Mot Insurance coverage required by Under ceases to be available insurance and Borrower was required to make separately design Borrower shad) pay the premiums required to obtain coverage at in effect, at a cost substantially equivalent to the cost to Branco alternate mortgage insurer selected by Under. Ifsubstantially Borrower shall continue t, pay to Under the amount of the sepa coverage ceased to be in effect Under will accept, use and reta the lease. IfBorr ower the merger in writing. of making the Wan, Cason, the Mortgage page insurance coverage is not available, payments that were duewhen the insurance as anon-refundable loss reserve in lumen' the fact that the Wan is ultimately paid in toll, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Under can no longer require loss reserve payments if MoftZge Insurance coverage (in the amount and for the period that Under requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. IfLeader required Mortgage insurance as a condition ofmakmg the Wan and Borrower was required to make separately designated payments toward the premiums for Mortgagge Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non- rePondable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Under providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. m Mortgage Insurance rel urses Under (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Wan as agreed. Borrower 1s not a party to the Mortgage Insurance, NEBRASKA - Single Firmly- Fannie Mae/Fremie Mac US [FORM INSTRUMENT Forni Ism (page4oJ8pagee) 9754 CV (1102) 1692195 GOTO(000991M)