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200304601
<br />if Borrower fails to maintain any of the coveragen described above, Leader may obtain insurance coverage, at Lender's
<br />option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage.
<br />Therefore, such coverage shall cover Leader, but might or might not pmtcet Borrower, Borrower's equity in the Property, or
<br />the contents of the Properly, against any risk, hazard or liability and might provide greater or lessee coverage than was
<br />previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed
<br />the cost of insurance that Borrower could have obtained. Any amounts disbursal by Leader under this Section 5 shall become
<br />additional debt of Borrower secured by this Security Instrument These amounts shall bear interest at the Note rate from the
<br />date of disbursement mid shall be payable, with such interest, upon notice from Leader to Borrower regnesting payment.
<br />All insurance policies required by Leader and renewals of such policies shall be subject to Lender's right to disapprove
<br />such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss
<br />payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly
<br />give to Leader all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not
<br />otherwise required by Lender, for damage lo, or destruction of, the Property, such policy stall include a standard mortgage
<br />clause and shall name Lender as mortgagee and/or as an additional hiss payee.
<br />In the event of loss, Borrower shall give prompt notice to the insurance tamer and Lender. Lender may make proof of
<br />loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceals,
<br />whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if
<br />the restoration or repair is economically feasible mid Leuder's security is not lessened. During such repair and restoration
<br />period, Lender shall have the right to hold such insurance proceeds until Lender bas had an opportunity to inspect such
<br />Property to ensure the work has bon completed 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 im a series of progress
<br />payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to the paid on
<br />such insurance proceeds, Lender shall not be required to pay Borrower any interest or eandngs on such proceeds. Fees for
<br />public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance prroceds and shall be the
<br />sole obligation of Burrower. B the restoration or repair is not economically feasible or Lender's security would he lessened,
<br />die insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the
<br />excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2.
<br />If Borrower 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 event,
<br />or i f Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Leader (a) Borrower's rights to
<br />any insurance proceeds in an amount not to exceed the amounts unpaid under the Now or this Security Instrument, and
<br />(b) any other of Borrower's rights (other than the right to any refund of uneamad prenduns paid by Borrower) under all
<br />insurance policies covering the Property, Insidious such rights are applicable to the coverage of the Properly. Lender may use
<br />the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security
<br />Immument, whether or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property is Borrowers principal residence within 60
<br />days after the exerution 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 of occupancy, unless Lender otherwise agrees in writing, which consent shall not
<br />he unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Properly; Irepections. Borrower shall not destroy, damage
<br />or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is
<br />risidung in the Property, Borrower shall maintain the Property in order to prevent the Properly from deteriorating or
<br />decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not
<br />economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If
<br />insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property shall be
<br />responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may
<br />disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is
<br />completed. If the insurance or condemnation proceeds me not sufficient to repair or restore the Property, Borrows is not
<br />relieved of Borrower's obligation for the completion of such repair or restoration.
<br />Lender or its agent may make reasonable entries upon and inspections of the Properly. if it has reasonable cause, leader
<br />may inspect tie interior of the improvements on the Property. Lender shall give Borrower notice at the time of or poor to
<br />such an interior inspection specifying such reasonable cause.
<br />NEBRASKA— Single Family —Fau de Mae/Feeddie Mac rTNIFORM INSTRIWFNT Farm Wn 1/01
<br />GRERRA.0.
<br />ITEM 1915L5(0011) (Page J al 11 pug,) ToMer Col ', 48005009090 C Fie 6167911101
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