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coverage, not otherwise required by Lender, for damage to, or test
<br />standard mortgage clause and shall name Lender as mortgagee and/o
<br />In the event of loss, Borrower shall give prom tnotice to the
<br />of loss if not made promptly by Borrower. Unless Lenderand Borrow
<br />whether or out the underlying insurance was required by Lender, shal
<br />the restoration or repair is economically feasible and Lender's securi
<br />period, Lender shall have the right to hold such insurance proceeds
<br />200304987
<br />such policy shall include a
<br />an
<br />r otherwise agree in writing, any ii
<br />be applied to restoration or repair
<br />i is not lessened. During such rem
<br />promptly. lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress
<br />payments as the work is completed. Unless an agreement is made in writing or Applicable law requires interest to be paid
<br />on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees
<br />for public adjusters, or other third part ies, retained by Borrower shall not be paid out of the insurance proceeds and shall be
<br />the sole obhgatmn 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 fie excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2.
<br />If Borrower abandons me Property, Lender may file, negotiate and settle any available insurance claim and related
<br />matters. If Borrower dues 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 ifLe -do aeq r` the Property under Section 22 or otherwise, Borrower hereby assiyms to Lender (a) Borrower's
<br />rights to any insurance proceeds in an amount no[ to exceed the amounts unpaid under the Now or this Security Instrument,
<br />and (b) any other ofâ˘orrower's rights (other than the right to anyrefund of unearned premiums paid by Borrower) under all
<br />msurane, policies covering the Property, insofar as such rights
<br />arc 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 of the Property; Inspections. Borrower shall not destroy,
<br />damage or impair the Property, allow the Property to deteriorate or commit waste
<br />on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to
<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 if damaged to
<br />avoid further deterioration or damage. If insurance or condemnation proceeds are paid in correction with damage to, orthe
<br />taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released
<br />proceeds fur such purposes. Lender may disburse pmceedsfor the repairs and restoration' single payment or in aseries
<br />of progress payments as the work is completed. Ifthe insurance or condemnation proceeds are no[ aufficnent to repair or
<br />restore the Property, Borrower is not relieved of Borrower's obligation for the completion ofsuch repair or restoration.
<br />Lender or its went may make reasonable entries upon and inspections ofthe Property. lfit has reasonable cause,
<br />lender may inspect the nnerior of the im rovements on the Property. lender shall give Borrower notice a[ the time ofor
<br />prior to such an interior inspection specifying such reasonable cause.
<br />R. Borrower's Loan Application. Borrower shall be in default if, during the 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 />materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lander with material
<br />Borrower's occupancy of the Property as Borrower's principal residence.
<br />9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If
<br />(a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal
<br />proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security hnstrument (such
<br />as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of alien which may attain priority
<br />over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender
<br />may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Properly and rights under this
<br />Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the
<br />Property. lender's actions can include, but ar e not limited I. (a) paying any sums secured bye lien which has priority over
<br />this Security Instrument; (b) appearing in court; and (c) pay ng reasonable attorneys' fees to protect its interest m the
<br />Properl yand /or nights under this Security Instrument, including na secured position in a bankruptcyproceeding. Securing
<br />the Property includes, but is not limited to, enterin &the Property to make repairs, change Incks, replace ur board . P d oors
<br />and windows, drain water from pipes, eliminate budding or other code violations or dangerous conditions, and have utilities
<br />turned on in off. Although Lander may take action under this Section 9, Lender does not have to it sn and is not under any
<br />duty or obligation to do so. It is agreed that Iender 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 of disbursement and shall be payable,
<br />with such interest, upon notice from Lender to Borrower requesting payment.
<br />If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. IfBorrower
<br />acquires fee title to the Property, the leasehold and the fee title shall not merge unless Leander agrees to the merger in writing.
<br />10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Um,
<br />Borrower shall pay the premiums required to maintain the Mortg6ge Insurance in effect. If, for any reason, the Mortgage
<br />Insurance coverage required by lender ceases to be available Bom the mortgage insurer that previously provided such
<br />insurance and Borrower was required to make separately designated payments to
<br />Borrower shall pay the premiums required to obtain coverage substantially equity
<br />in effect, at a cost substantially equivalent to the cost to Borrower of the Mortga
<br />alternate mortgage insurer selected by Under. If substantially equivalent Mort
<br />Borrower shall continue to ay to Lender the amount ofthe separately designated
<br />age ceased to be in effect Lender will accept, use and
<br />;a a Insurance. Such loss reserve shall be non- refun<
<br />nd Lender shall not be required to pay Borrower any
<br />'e loss reserve payments of Mortgage Insurance cov
<br />led by an insurer selected by Lender again becomes a
<br />ents toward the premiums for Mortgage Insurance. If
<br />Iron and Borrower was required to make separately designated payments rewind the premiums for Mortgage Insurance,
<br />Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non - refundable loss
<br />reserve, until Lender's requirement for Mortgage insurance ends in accordance with any written agreement between
<br />Borrower and Lender providing for such termination or until termination is required by Applicable law. Nothing in this
<br />Section 10 effects Borrower's obliggation to pa interest at the rate provided in the Note.
<br />Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if
<br />Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance.
<br />NK1hRASKA -S,,k Family - Fannie MaclFreddiv Mao UNIFORM INSIrill WENT Form3928 IM (pagu4 fS~s)
<br />9754 CV (I2) I686ti82
<br />60 11
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