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200200623 coverage, not otherwise recall by Lendw', fir damage t0, or desttnction of, due Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Tender cony make proof nfloss if not made promptly by Bar rower. Unless lender and Borrower otherwise agree in writing, any insuranceprocecds, whether or rust the underlying insurance was required by lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such iepaur and restoration period, Lender shall have the right to hold such insurance proceeds until Under has had an opportunity to inspect such Property to ensure the work has been completed to Lender's sulisfacdon, provtried that such inspection shall be undertaken promptly. Lender may disburse proceeds for [he repairs and ,=tried a single payment or in a set tits of progress payments as the work is completed. Unless an agreement is made in writing or Applicable law requires interest to be paid Un such insurance proceeds, Lender shall not he rcyuired to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower all not be paid out of the, n.,u .... c proceeds and shall be the sole obligation of Borrower. if the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance pnweeds shall be applied to the sums secured by this Security Imtrument, whether or not then due, with the excess, if any, paid l0 Borrower. Such insurance proceeds shall be applied in the order in for in Section 2. If Borrower abandons the Property, I ender may fate, neggotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 tlays to a notice am lender that the insurance co. ier has offered to settle a claim, [hen Lender may negotiate and scale the claim. "the 30 -day period will begin when the notice is given. In either event, or itlender acquires tlue Property under Section 22 or otherwise, Borrower hereby ass igns to Under (a)Bmm el', 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 (odher than the right to any refund of unearned premiums paid by Bonower) under all insurance policies covering the Pi Opel ty, insofar as such rights ace applicable to the coverage of the Property. Lender may use the insurance orno:ceds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security I116LI V, IM,,., .. u� ...... ... ........_..,.__. 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 he 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 Properly in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shal l promptly repair the Property if damaged to avoid further deterioration or damage. It insurance or condemnation proceeds are paid in cnncertion v, fill damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds far 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. [C the insurance or condemnation proceeds are not sufficient to repair or restolet, e Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Iznder Ur its agent may make reasonable entries upon and inspections of the Properly. If it has reasonable cause, Lender may in the interior of the impprovements on the Property. Leader shall give Borrower notice xt the time of or prior to such an interior inspection speeitying such reasonable cause. 8. Borrower's Lran Application. Borrower shall be in default if, during the Loan a plication process, Borrower nr any persons or entities acting at the direction of Bonower or with Borrower's knowledge or consent gave materially false, misleading, Ur inaeou are information m atatcmcnis to Lender (or failed to rovide Under with material mforlialion)in connection with the Lou n. Material representations include, but ar'e not lunited to, representations mnecrnmg Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest In the Property and Rights Under this Security Instrument. If (a) Bonower fails to perform the covenants and agreements contained in this Security instrument, BU there is a legal proceeding that might signif ¢only affect Lender's interest in the Property and/or rights under this Security instrument (such as a pocceding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain pnority over this Security Instrument or to enforce laws or regulations), or (c) Bonower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Izndcr's interest i' f r e Property and rights under this Securty Instrument, including protecting - or assessing the value of [he Property, and scouring and/or repairing the Property. Lender'sactions can include, but are not limited to (a) paying any sums secured byalien which has priority over this Security InstuTo nt: (b) appearing is court; and (c) paym reasonable sitarocys' fees to protect its interest m the Property anNor rights under this Security Instrument, including tits secured position in a bankruptcy proceeding Securing the Property includes, but is not limited to, entering the Property to make repairs, change Ioeks, replace or board up doors and windows, drain water from pipes, eliminate bw Iding or other code violations or dangerous wnddions, and have utilitirs Turned on or off Although Lender may take action under this Section 9, Lender does not have to do so and is nut under any duty or obligation to do so. It is agrcod that Lender incurs ne liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed nt Lender under this Section 9 shall become additional ofd debt disbursement d s secured y this Security Instrument. These amounts shall bear interest at the Note rile Cram the date of disbursement and shat l he payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Burrower shall comply with all the provisions of the lease. IfBorrower acquires fee ti tle 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 preniums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by lender ceases to be available nom the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums 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 coal to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. It substantially equivalent Mortgage Insurance coverage is not available, Burrower shalt conlime to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. I ender will accept, use and retain these payments as a non -i cfondxble loss reserve in lieu of Mortgage Insurance. Such loss reserveshall be non- refundable, notwithstanding the fact that he loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Iznder 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 payments toward the premiums for Mougageltionance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the Premiums required to maintain Mortgage Insurance in effect, or to provide a non- retundahle loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination Ur maul termination is requited by Applicable Luis, Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note Mortgage Insurance reimburses Under (or any entity that purchases the Note) for certain losses it may incur if Borrower dues not repay the Loan as agreed. Borrower is not a party to the Mortgage Insm'anec. NEBRASKA - Single Family -- Fannie Mae /Freddie Mac UNIFORM INSTRUMENT lat103028 1101 (page4of8pages) 9]54(V('MI) 01130E GOT010acr Sean