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200304365
<br />coverage, not otherwise required by Lendeq for damage to, or destruction of; the Properly, such policy shall include a
<br />standard mortgage clause and shall name Lender as mottgagee and /or as an additional lass payee.
<br />In the event of loss, Borrower shall give prompt nonce to the insurance carrier and Lender. Lender may make proof
<br />of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds,
<br />whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair ofthe Property, if
<br />the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration
<br />period, Lender shot the right to hold such insurance proceeds until Lender has had an opportunity to inspect such
<br />Property to ensure the work has been com lewd to Lender's satisfaction, provided that such inspection shall be undertaken
<br />promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress
<br />payments w the work Is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid
<br />on such ihsurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees
<br />for public adjusters, or other third parties, retained by Borrower shall not be paid out ofthe insurance proceeds and shall be
<br />the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be
<br />lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due,
<br />with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied to the order provided For in Section 2.
<br />IfBorrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related
<br />matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a
<br />claim, then Lender may negotiate and settle the claim. The 30 -day period will begin when the notice is given. In either
<br />event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's
<br />rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument,
<br />and (b) any other of Borrower's rights (other than the right to any refund ofunearned premiums paid by Borrower) under all
<br />insurance policies covering the Property, insofar as such rights are applicable to the coverage ofthe Property. Lender may
<br />use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security
<br />Instrument, whether or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within
<br />60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal
<br />residence for at least one year after the date
<br />of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless
<br />extenuating circumstances exist which are beyond Borrower's control.
<br />7. Preservation, Maintenance and Protection ofthe Property; Inspections. Borrower shall not destroy,
<br />damage or impair the Property, allow the Property to deteriorate or commit waste
<br />nn the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property . order [o
<br />prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to
<br />Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property ifdamaged to
<br />avoid further deterioration or damage. Ifinsurance or condemnation proceeds are paid in connection with damage to, or the
<br />taking a( the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released
<br />proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration to a single payment or in a series
<br />of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or
<br />restore the Proverty. Borrower is not relieved of Borrower's obligation for the completion ofsuch repair or restoration.
<br />i -cwtor or us skein nay mane reasonaore entries open arm ms ns , c coy. n .. ,ca..unaa,c ca c
<br />Lender may inspect the interior of the imppr�ovements on the Property. nder shall give onower notice at the time ofor
<br />prior to such an Interior inspection sped ng such reasonable cause.
<br />8. Borrower's loan Application. Borrower shall he in default if, during die Loan application process,
<br />Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave
<br />mmerially false, misleading, or inaccurate information or statements to lender (or failed to provide Lender with material
<br />information) in connection with the Loan. Material representations include, but are not lim to, representations concerning
<br />Borrower's occupancy ofthe Property as Borrower's principal residence.
<br />9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. It
<br />(a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal
<br />as a
<br />over
<br />ay for whatever is reasonable or appropriate to protect Lender's interest in the Property
<br />omen[, including Protecting and/or assessing the value of the Property, and securing
<br />ider's actions can include, but are not limited to: (a) paying any sums secured bya lien w
<br />Instrument; (b) appearing in court; and (e) paying reasonable attorneys' fees to prod
<br />then
<br />the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors
<br />and windows, drain water from pipes, eliminate budding or other code violations or dangerous conditions, and have utilities
<br />turned on or off: Although Lender may take action under this Section 9, Lender does not have to do so and is not under any
<br />duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this
<br />Section 9.
<br />Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this
<br />Security Instrument. These amounts shall bear interest at the Note rate from the date ofdisbursement and shall be payable,
<br />with such interest, upon notice from Lender to Borrower requesting payment.
<br />Ifthis Security Instrument is on a leasehold, Borrower shall comply with all the provisions ofthe lease. IfBomower
<br />10. Mortgage Insurance. If Lend[
<br />Borrower shall pay the premiums required to main
<br />Insurance coverage required by Lender ceases to b
<br />insurance and Borrower was required to make separl
<br />Borrower shall pay the premiums required to obtain
<br />in effect, at a cost substantially equivalent to the cos
<br />alternate mortgage insurer selected by Lender if st
<br />Borrowershal continue May to Lender the mount
<br />coverage ceased to be to effect. lender will accept, i
<br />Mortgage Insurance. Such loss reserve shall be non .
<br />fill, and Lender shall not be required to pay Borrow
<br />Borrower of the
<br />provlaea ny an Insurer smnoreu oy rxnuer again necaums a
<br />payments toward the premiums for Mortgage Insurance. If
<br />Loan and Borrower was required to make separately deli(
<br />Borrower shall pay the premiums required to maintain MI
<br />reserve, until Lender's requirement for Mortgage Insura
<br />Borrower and Lender providing for such termination or on
<br />Section 10 affects Borrower's obligation to pay interest at
<br />Mortgage Insurance reimburses Iznder (or any (
<br />Borrower does not repay the Wan as agreed. Borrower is
<br />1 unless Lender agrees to the merger in writing.
<br />surance so a condition of making the Loan,
<br />ice in effect. It for any reason, the Mortgage
<br />�ogage insurer that previously provided such
<br />x tower the premiums for Mortgage Insurance,
<br />nwitfia ding the fact that the Loan is ultimately paid in
<br />or earnings ensue loss reserve. Under can no longer
<br />n the amount and for the period that Lender requires)
<br />is obtained, and Lenderrequires gap aratelydesiU ated
<br />required Mortgage Insuranceaz a ofmakingthe
<br />I agreement between
<br />Law. Nothing in this
<br />archases the Now) for certain losses it may incur if
<br />to the Mortgage Insurance.
<br />NEBRASKA Single Family- Fannie Mac Frediie Mae UNIFORM INS'1'BUMENT Farm3028 I/01 (P^Sa> IApagee)
<br />9754.CV(1/02) 1681014
<br />GOTO(0004c4d)
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