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200306834
<br />All insurance policies required by Lender and renewals ofsuch and shell policies shall Le der abed to Len er's right to
<br />disapprove such policies, shall include a standard mortgage clause, an
<br />additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires,
<br />Borrower shall promptly give to Leader all receipts of paid premiums and renewal notices. If Borrower obtains any
<br />form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such
<br />policy shall include a standard mortgage clause and shall name Lender as mortgagee and /or as an additional loss
<br />Payee _
<br />In the even[ of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may
<br />make proof of loss Tom made promptly by Borrower. Unless Lender and Burrower otherwise agree in writing, any
<br />insurance proceeds, whether or not the Underlying insurance was required by Lender, shall be applied to restoration
<br />or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened.
<br />During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender
<br />has had an opportunity to inspect such Properly to ensure the work has been completed to Lender's satisfaction,
<br />provided that such inspection %hall be undertaken promptly. Lender may disburse proceeds for the repairs and
<br />restoration in a single payment or in a series of progress payment%as the work is completed. Unless an agreement is
<br />made in writing or Applicable Law requires interest to he puid on such insurance proceeds, Lender shall not be
<br />required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties,
<br />retained by Borrower shall not be paid out of the insurance proceeds and shall he the sole obligation of Burrower. If
<br />the restoration or repair is not economically feasible or Lenders security would be lessened, the insurance proceeds
<br />shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any,
<br />paid to Borrower. Such insurunce proceeds shall be applied in t r provided
<br />available insurance claim and in Section 2.
<br />a
<br />If Borrower abandons the Property, L.endcr may file, negotiate
<br />related matters- If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has
<br />offered to settle a claim, then Lender may negotiate and settle the claim. The 30 -day period will begin when the
<br />notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby
<br />assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid
<br />under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund
<br />of unnamed premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights
<br />are applicable to the coverage of the Property- Lender may use the insurance proceeds either to repair or restore the
<br />Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due.
<br />b. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence
<br />within sixty days after the execution of this Security Instrument and shall continue to occupy the Property as
<br />Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in
<br />writing, which consent shall not he unreasonably withheld, or unless extenuating circumstances exist which are
<br />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 on the Property. Whether or not
<br />Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from
<br />deteriorating or decreasing in volue due to its condition, Unless it is determined pursuant to Section 5 that repair or
<br />restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further
<br />deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the
<br />taking of, the Property, Borrower shall he responsible for repairing or restoring the Property only if Lender has
<br />released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single
<br />payment in in a serie% of progress payments as the work is completed. If the insurance or condemnotion proceeds
<br />are not sufficient to repair or restore the Property, Borrower is not relieved or Borrower's obligation for the
<br />completion of such repair or restoration.
<br />Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable
<br />cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at
<br />the time of or prior to such an interior inspection specifying 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 acting at the direction of Borrower or with Borrower's knowledge or consent
<br />gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender
<br />NEBRASKA — tiinble Family— Fannie MeelFnddii, Mac UNIFORM INSTRUMEV I /FF.rm.1302291101 ipaye 6 of 13 ~V
<br />OOI ni,rds- 5 /ZI /Zlp'_J.'SEPm Borrnwtrlriltals
<br />Ver.1
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