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200200760
<br />coverage, not otherwise required by Lender, for damage [o, or destruction of, the Property, such policy shall include a
<br />standard mortgage clause and shat) name Lender:¢ mortgagee and/or as an additional loss payee.
<br />(n the event of loss, Borrower shall give prompt nature w the inmrance earl'tci and Lender. Lender may make proof
<br />of loss it nor made p,omptlyhy Borrower. Unless Lender and Believe, caluavese agree in writing, any insuranceproceeds,
<br />whether or not the underlying insurance was required by lender, shall be applied to restoration or repair of the Property, if
<br />the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration
<br />period, Lender that the right to hold such insurance proceeds until Lander has had an opportunity to inspect such
<br />Yroperty to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken
<br />promptly. Lender may disburse proceeds far the repairs and restoration In a single payment or in a series or progress
<br />payments as the work is completed, Unless an agrecmenl is made in wrtfingoi Apphcable Inw requires interest to be paid
<br />on such insurnnce proceeds, Lender shat not be requil'ed to pay Borrower any intcrest or earnings on such proceeds - Pees
<br />for public adluslers, or other thud parties, reiaincd by Borrower shall nut be paid out of the insurnnce proceeds and shut be
<br />the sole obligation of Borrower. ll the restomuon err repair is va, economcally feasthle or hpu,d hcther m it) chancre.
<br />ee
<br />lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument,
<br />with the excess, i( any, paid w Borrower Such iusutnnceyrocecds shall be applied in the order provided for in Section 1
<br />1fRnrrewer abandons the Property, Lender may tile, negca riv and settle any available insurnnce claim and related
<br />mailers. Lf Borrower does no[ respond within 30 days m u notice from Lender thin the insurance e,clra, has offered to settle a
<br />claim, then Lender miry negotiWe anA settle [he claim 'Phc 30 -day pertod wit l heart when the notice is o von. In either
<br />event, or iflender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's
<br />rights to any inswnnce proceeds in an amount not In exceed the amounts unpaid trader the Note or this Security Instrumcn4
<br />and (b) any other' of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrowed under all
<br />insurance policies covering the Property, insofar as such rights are applicable to the coverage oldie Property - homology,
<br />lose the insurance proceeds either to i apait 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. Bonowershalloccupy, establish, and use the Property as Borrower's principal residence within
<br />60 days after the execution of this Security Instru ment and shall continue to occupy the Property as Borrower's principal
<br />residence for at least one year after the dale
<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 11rolcdlon 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 to offer in or to
<br />prevent the Property from dean lot or decreasing in value due to its condition- tlnl ess it is determined pursuunt to
<br />Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property it damaged to
<br />avoid further deterioration or damage. If insurance or wndenmation proceeds are paid in connection with damage to, or the
<br />taking of, the Property, Borrower shall he responsible tar repairing or restoring the Property only if Lender has released
<br />proceeds for such purposes Lender may disburse puiceeds for the repairs and (estomtion in a single payment or in a series
<br />of progi ess payments as the work is completed. If the insurance err condemnation prnau;ds are not sufficient to 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 agent may make 1 resalable entries upon and Inspections of the Property- If it has reasonable cause.
<br />Lender may Inspect the late, ell of the improvements on the Piupn ty Lender shall give Bonvae notce at the time or or
<br />prior to such an interior inspection specifying such musonable cause.
<br />g. Borrower's Loan Application. Borrower shall be in detail( if, during the Loan application process,
<br />Borrower or any persons or entities acting ut the direction of Borrower or with Borrower s knowledge or consent gave
<br />materially false, misleading, or inaccurate information or statements to Tender (or failed to provide Lender with material
<br />nfonnution7 in connection wii h the Lunn. Material rep rose motions include. but m'a not limited to represenmtane, concerning
<br />Borrower's occupancy UI the Property as Burower's pruicipal residenw.
<br />9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If
<br />(a) Borrower fails to perform the c,venanls and agrecmenls contained in this Scau,ity Instrument (b) there is a legal
<br />proceeding that might significantly affect Lender's interest m the PI'operty and /or rights under this Security Inst ament (such
<br />as a proceeding in bankruptcy, probu(e, for condemnation m forfeiture, for enforcement ofa lien which may attain priority
<br />Over this Security Instrument or to enforce laws or regulations), or (a) Borrower has abandoned the Property, then Lender
<br />rimy do and pay or whatever is reasonable or appropriate to protect Lender's interest in the Property 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 action, can include, but are not limited to (a) paying any suns secured by alien which has priority over
<br />this Security Instrument, (b) appearing In court and od paying reasonable attorneys' fees to protect its interest m the
<br />Property and /or rights under this Security last, ument including its secured position in a bunkuptcy proceeding. Securing
<br />the Property includes, but is not limited to, enuring the Property to make repairs, change locks, replace or board up doors
<br />and windows, drain water Born pipes, eliminate budding or other code violations or dangerous conditions, and have nbfities
<br />turned on or Uff. Although leader may tike action under this Section 9, Lender dues not have to do s, audit, not under any
<br />duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this
<br />Section 9
<br />Airy amounts h disbursed e amounts by lender bear interest this Section 9 shall become ed ate bfd debt ement and s secured by this ol
<br />Security lnso'ument. These amours shall bear interesta(the Nile rule ftom[heda(e ofdixhursement and stall be payable,
<br />with such interest, upon notice from Lender to Borrower requesting payment.
<br />If this Scum try Instrument is on a leasehold, Borrower shad comply with all the provisions ofthe lease. 1113orower
<br />acquires fee title to the Property, the leasehold and ale fee title shall not merge unless Lender am an, to the merger in writing.
<br />10. Mortgage Insurance. If Lender required Mortgage Insurance as n cmidaion of making the Lou[',
<br />Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect If, for any reason, die Mortgage
<br />Lnsurance coverage required by Lender se
<br />ceas m be avntlable fi'om the .,,(gage insurer that fee,,ond,, provided such
<br />insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance,
<br />Borrower shall pay the Ill'cmiums required to obtain coverage substantially equivalent (a the Mortgage Insurance previously
<br />in effect, at a cost substantiallyequivalent to the cost to Bon'ower of the Mortgage Insurance previously in effect. from an
<br />alternate mortgage insurer selectcd by Lender. If substantially equivalent Mm [gage Insurance coverage is not available.
<br />Boriomel shall unlrrst pay.lznder the ai mnt,f the repo ady deslgnnret payrnems that cue due when theinsurance
<br />coverage ceased m be to a ect. Lender' will accept use and retain these payments as a nomml'undable loss reserve in lieu of
<br />Mortgage Insurance. Such loss reserve shall he non- ieflmdable,notwitbstanding the fact that the Loan is ultimately paid in
<br />Poll. and Lender shall not be required to pay Burrower any later st or ear rnimo on such loss r eserve. landercall no long,'
<br />,oil ,a loss reserve payments it Mortgage huurance coverage (tn the amount and tier the period that Lender reyuiress
<br />provided by an insurer selectcd by Lender again becomes available, is obtained, and Lender requires separately designated
<br />payments toward the premiums for Mortgage Insurance- If lender required Mortgage hrsoranceas acondition of making the
<br />Loan and Borrower was icounted to make separately designated payments toward the premiums for Mortgage un Insurance,
<br />Borrower shall pay the premiums required to maintain Mortgage lnsnrance in effect, or to provide a non-refdable 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 termiaulion or until termination is required by Applicable Law. Nothing in this
<br />Section 10 affects Borrowers obligation to pay interest at the rate provided in the Note.
<br />Mortgage Insinuator relliburses lender (or any entity that purchases the Note) for cermm losses It may incur it
<br />Borrower does not repay the Loan as agreed- Bo, rovac is not a party to the Mortgage Insurance _
<br />M6NRASKA�Ingle Pamily-- Fantle AIDe/PrctlOic MVC UNIFORM INST1ttIMf"NT Parar3028 1/01 (pngeluJdpusr.t
<br />9]54 .CV(21a0 r 9a
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