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200305866 coverage, not otherwise required by Lender, for damage to, or destruction standard mortgage clause and shall time Lender as mortgagee and/or as m In the event of loss, Borrower shall give prompt nonce to the inseam of loss ifnot made promptly by Borrower. Unless Lender and Borrower othel whether or not the underlying insurance was required by lender, shall be apt the restoration or repair is economically feasible and Lender's security is no oeriod. Lender shall have the right to hold such insurance proceeds until L er may work Is s and restoration in a is made in writing or, to pay Borrower any is the Property, such policy shall include a has had an opportunity to inspect such that such inspection shall be undertaken ogle payment or in a series of progress plicahle law requires interest to be paid rest or earnings on such proceeds. Fees 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 to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance roceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle anyavadable insurance claim and related matters. If Borrower does not respond within 30 days w a notice from Lender that the insurance carrier has offered to settle a claim, then Lander may negotiate and settle the claim. The 30 -day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other ofBorrower's rights (other [Iran the right to any refund ofunearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of Properly. 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 not on due. 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 year after the date of occupancy, unless Lender 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 of the 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 mined prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is deter pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid to 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, lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. If the 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. Gander or its agent may make reasonable entries upon and ins pec ro tionsofthe Property. ifithasreasonablecause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borwer notice at the time of or prior to such an interior inspection specitying such reasonable cause. 8. Borrower's Ivan Application. Borrower shall be in default if, during the Loan a placation process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to rovide Lender with material information) in connection with the Loan. Material representation include, but are not Him representation concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest iu 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 as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement ofa lien which may attain over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Prooerty, then may do and pay for whatever is reasonable or appropriate to pprotect 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 repairing the Property. Lender's actions can include, but are not limited to (a) paying any sums secured by a lien which has priority over 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 the 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 but or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action under this Section 9, Lender does not have to do su 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 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 ofdisbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions ofthe ]ease. IfBorrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premium for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to .Way lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in c ect. Lender will accept, use and retain these payments as a non - refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non - refundable, notwithstanding the fact that the Loan is ultimately paid in fall, an Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. lender can no longer require loss reserve payments If Mortgage Insurance coverage (in the amount and for the period that lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and lender requires separately designated paymems toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance w acondruon ofmakmgthe Loan and Borrower was required tom ake separately designated payments toward the premiums for Mortgage lnsurmce, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a nun - refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and lender providing ter such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligtion to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. NEBRASKA ,Single Family— Fannie Mee /Freddie Mac UNIFORM INSTRUMENT Form3028 min (page4oj8pages) 9754 CV (1/02) 1694976 GOTW000461,I)