|
coverage, not otherwise required by Lender, for damage m, or destruction
<br />standard mortgage clause and shall name Under as mortgagee and/or as an
<br />In the event of loss, Borrower shall give prompt notice to the incur
<br />of loss ifnot made promptly by Borrower. Unless Lander and Borrower oth
<br />whether or not the underlying insurance was required by Lender, shall be a
<br />the restoration or repair is economical, feasible and Lender's security is n
<br />Period, Lender shall have the right to hold such insurance proceeds until
<br />Property to ensure the work has been completed to lender's satisfaction, pr
<br />promptly. Lender may disburse proceeds for the repairs and restoration
<br />payments as the work is completed. Unless an agreement is made in writing
<br />on such insurance proceeds, Lender shall not be required to pay Borrower
<br />the-sole obligation of Borrower. If the restoration or repair is
<br />lessened, the insurance proceeds shall be applied to the sums sal
<br />with the excess, if my, paid m Borrower. Such insurance Croce
<br />if Barrel abandons the Property, Lender may file, ne
<br />matters. If Borrower does not respond within 30 days to a notice
<br />claim, then Lender may negotiate and settle the claim. The 30
<br />event, or if Lender acquires the Property under Section 22 or orb
<br />rights to any insurance proceeds in an amount not to exceed the r
<br />and (b) any other ofBortower's righb (other than the right to an�
<br />insurance policies covering the Property, insofar as such rights i
<br />usethe insurance proceeds either m repair or restore the Propen
<br />I t ant whether or not then due
<br />200305344
<br />of, the Property, such policy shall include a
<br />additional loss payee.
<br />ante carrier and Lender. lender [naymake proof
<br />erwis , agree in writing, any insurance proceeds,
<br />pplied to restoration or repair elf the Property, if
<br />of lessened. During such repair and restoration
<br />Under has had an opportunity to inspect such
<br />pro that such inspection shall be undertaken
<br />in a single payment or in a series of progress
<br />or Applicable Law requires interest to be paid
<br />any interest or earnings on such proceeds. Fees
<br />paid out of the insurance proceeds and shall be
<br />nically feasible or Lender's security would be
<br />s Security Instrument, whether or not then due,
<br />applied in the order provided for in Section 2.
<br />settle any available insurance claim and related
<br />:r that the insurance carrier has offered in settle a
<br />will begin when the notice is given. In either
<br />rower hereby assigns to lender (a) Borrower's
<br />Laid under the Note or this Security Instrument,
<br />mearned premiums paid by Borrower) under all
<br />de to the coverage of the Property. Lender may
<br />amounts unpaid under the Note or this Security
<br />ns rum ,
<br />6. Occupancy. ftrove rshalloccupy, establish, and use the Property as Borrower's principal residencewdhin
<br />60 days after [he execution ofthis Security Instmmew and shall continue to occupy the Property as Borrower's principal
<br />re sidence for at least one }rear after the date
<br />of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless
<br />exrenuan circumstances exist which are beyond Borrower's conttol.
<br />7. Preservation, Maint....... nd Protection of the Properly; 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 ➢orrower Is rending in the Property, Borrower shall maintain the Property m order to
<br />prevent the Property from deteriorating or decreasing to value due to its condition. Unless it is determmed 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 connection with damage to, or the
<br />taking of, 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 m a single payment or in a series
<br />of progress payments as [he work is completed. Ifthe insurance or condemnation proceeds are not sufficient m repair or
<br />restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration.
<br />Lender or its a &ant may make reasonable entries upon and inspections ofthe Property. Ifit has reasonable cause,
<br />I ender may inspect the mien., of the impprovements on the Property. Lender shall give Borrower notice at the time of or
<br />Prior to such an Interior inspection speciCying such reasonable cause.
<br />8. Borrower's loan Application. Borrower shall be in default if, during the Loan application process,
<br />Borrower or any persons or entities actin& at the direction of Borrower or with Borrower's knowledge or consent gave
<br />materially false, misleading, or inaccurate mfonnation or statements to Lender (or failed to provide Lender with material
<br />information) in connection with the Loan. Material representations include, but are not lime tn, representations concerning
<br />➢orrower's occupancy of Property as Borrower's principal
<br />9. Protection a a[ Lender's Interest in the Prop
<br />(a) Borrower fails to perform the covenants and agreements
<br />proceeding that might significantly affect Lender's interest in th
<br />as a proceeding in ankrupro y, probate, for condemnation or to
<br />over this Security Instrument or to enforce laws or regulations)
<br />Property. lender's actions can include, but are not lim
<br />this Security Instrument; (b) appearing in court; and
<br />Property and/or rights under this Security Instrument, i
<br />the Property includes, but is not limited to, entering th
<br />and windows, drain water from pipes, eliminate mil
<br />turned on or off. Although Lender may take action unc
<br />duty or obligation to do so. It is agreed that Lender me
<br />S f 9
<br />this Seel
<br />Instrument,
<br />or (c) Borrower has ab
<br />feet Lender's interest it
<br />value of the Property,
<br />paying any sums recur
<br />moral fees to protect its interest in the
<br />osition in a bankruptcy proceeding. Securing
<br />lairs, change locks, replace or heard up doors
<br />ons or dangerous conditions, and have utilities
<br />let does not have to do so and is not under any
<br />taking any or al I actions authorized under this
<br />the
<br />ec it
<br />Any amounts disbursed by Lender under this Section 9 shall become additional sburse new and secured gable,
<br />Security Instrument. These amounts shall hear interest at the Note rate from the date ofdisbursemen[ 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. IfBorrower
<br />acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing.
<br />10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan,
<br />Borrower shall pay the premiums required to maintain the Mort gage Insurance in effect. 1� for any reason, the Mortgage
<br />Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such
<br />insurance and Borrower was required to make separately designated payments toward the Dremiums for Mortgage hourence,
<br />Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously
<br />in effect, at a cost substantially equivalent to die cost to Borrower ofthe Mortgage Insurance previously in effect, from an
<br />alternate mort �age nsurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available,
<br />o...,,. .,,.,,vn,,. navirents thatwere due when the insurance
<br />coverage ceased to be in effect. Lender will accept, use and
<br />Morgabe Insurance. Such loss reserve shall be non- refunc
<br />full, and Lender shall not be required to pay Borrower any
<br />require loss reserve payments if Mortgage Insurance cov
<br />provided by an insurer selected by Lender again becomes a
<br />Etoward the premiums for Mortgage Insurance. If
<br />Loan and Borrower was required to make separately desig
<br />Borrower shall pay the premiums required to maintain M(
<br />reserve, until Lender's requirement for Mortgage Insura
<br />Borrower and Lender providing for such termination or ut
<br />Section 10 affects Borrower's obligation to pay interest at
<br />Mortgage Insurance reimburses Lender (or any t
<br />Borrower does not repay the Loan as agreed. Borrower is
<br />NEBRASKA- Single Family -- Fannie MaNFredme Mae UNIFORM INSTRUMENT
<br />0754 CV (1102) 1689504
<br />loss
<br />n such loss reserve. Lender can no
<br />and for the period that lender to
<br />and Lender requires separately des
<br />to provide a non- refundable loss
<br />any written agreement between
<br />Applicable Law. Nothing in this
<br />:hases the Note) for certain losses it may incur if
<br />the Mortgage Insurance.
<br />Form3028 V91 (page4of8prges)
<br />
|