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200205741
<br />coverage, not erherwisc regmrerl by I endcq for damage it), or destruction of, the Property, such policy shall include a
<br />standard mortgage clause and shall name Lender as mortgagee auction as an additional loss payee.
<br />I the event of loss, Borrower shall govt prompt matte to 01e insurance carrier and Lender. Lender may makeproot
<br />of loss it not made prenptly by But coin, Unless Lender and Borrowerothervese agree in writing, any insurance proceeds,
<br />whether or aotthe underlyi ng..... Nance was required byLenda, shall beappIled to restoration or repair of the Property, it
<br />the restoi alien or repair Is economically feasible and Lender's security is not lessened. During Such repair and restoration
<br />period, Lender shall have the right art hold each insurn ice proceeds until Lender has had an opportunity to inspect such
<br />Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall he undertaken
<br />promptly. Lender may dvent, c procceds for the repairs and restoration in a single payment or in a series of progress
<br />payments as the work Is completed. Unless an agreement is made in writing or Applicable law requires interest fo he paid
<br />on such insurance proceeds, lender shall nol he required to pay Borrower any interest or earnings on such proceeds Pees
<br />for public adjusters, or other th Ind parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be
<br />the sole obligation of Borrower. If the rest nrution or repair is not economically feasible or Lender's security would be
<br />lessened, the insurance proceeds shut l be applied to the Sums secured by this Security lnstrumenl, whether or notthen due,
<br />with the excess, it any, paid to Borrowcr. Such insuranee proceeds shall be applied in the order to ovided for in Section 2.
<br />1fBurrowcr aba,doris the Property, Lcnder may file, negotiate and settle any available insurance claim and related
<br />matters. If Borrower does not respond wi ill i n 30 days to a notice from Lender that the insurance carrier has offered to settle a
<br />claim, then Lender, may negotlae and settle the claim. The 30 day period will begin when the notice is given. in either
<br />event, or if Lender acquires the Property under Section 22 or rnhorwisc, Borrower hereby assigns to Lender (a) Borrower's
<br />rights to any insurance p, oeeeds in an amount not to exceed the amounts unpaid under the Note or this Security instrument,
<br />and (b) any other of Borrmver s rights (other than the right m any refund of unearned premiums paid by Borrower) undera]I
<br />insurancc policies covering [Inc Property, insofar as such rights are applicable to the coverage of the Property. Lender may
<br />use the insurance proceeds either to repair or restore the Property or m pay amounts unpaid under the Nate or this Security
<br />Instrument, whether in not then due.
<br />6. Occupancy. Borrower shall occupy, estahlish, and use the Property as Borrower's principal residence within
<br />60 days alter the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal
<br />residence I'or ut least one year alter the date
<br />of occupancy, unless lender otherwise agrces in writing, which consent shall not be unreasonably withheld, or unless
<br />exnmoafing circumstances exist which are beyond Borrower's control.
<br />7. Preservation, Maintenance and Protection ofthe Property; Inspections. Borrower shall not destroy,
<br />damage or impair the Pmperts, allot the Proper ty to deteriorate or commit waste
<br />on the Property Whether ors at horrmvrr is reading in the Property, Borrower shall maintain the Property in order to
<br />prevent file Property lion deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to
<br />Section 5 that repair or restoi Lion is not economically, fcasihle, Burrower shall promptlyrepair the Property ifdamaged to
<br />avoid further deteriotation or Claridge, Ifinsumnce or condemnation proceeds are paid in connection with damage to,orthe
<br />taking of, the Property, li(nrnwcr shall he responsible lire repairing or restoring the Property only if Lender has released
<br />proceeds for such purposes Leodcr may disburse proceeds for the repairs and restoration in a single payment or in a series
<br />of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or
<br />res4sc tin Pmperty, Borrower Is not relieved of Borrower's obligation for the completion of such repair or restoration.
<br />I ender or its agent mny make reasonable entries open and inspections of the Property. If it has reasonable cause,
<br />I cndcr may inspect We inferior of the improvemems on the Properly. Lender shall give Borrower notice at the time offer
<br />prior to such :tar interior a,pc:tion Sped tyi n , such rcasonuble cause.
<br />S. Bnrroxcr'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 gave
<br />materially false, rnislrrding, or inaccurate informdiun or statements to Lender (or failed to provide Lender with material
<br />infonnntion) in connection ssdth the Loan_ Material representations include, but are not limited to, representations concerning
<br />Borrower's occupancy of the Property as Borrower's principal residence.
<br />9. Protection of Lender's Interest in the Property and Bights Linder this Security Instrument. If
<br />(a) Borrower fails to perform the covenants and agitements contained in this Security Instrument, (b) there is a legal
<br />I roceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such
<br />as a proceeding i n hit nknipIt }, prohao, far condcmna[imn or let ficiture, lot enforcement of a lien which may attain priority
<br />over [his Security Instrument or to cnfome laws or regulations), or (c) Borrower has abandoned the Property, then Lender
<br />may do and pay (or whatever is rcazonahIC or appropriate to protuA lender's interest in the Properly and rights under this
<br />Stearn) instrument. including protecting and/or assessing the value of the Properly, and securing and /or repairing the
<br />Properly- lender's actions can Intl n te, her are not tmital lo: I a) paying any Sums secured by alien which has priority over
<br />Ihix Sceurity htslrunnetf, (10 appearing In court, and (c) paying reasonable attorneys' tees to protect its interest in the
<br />Property and/or nghts under thus Sectary Instrument, including its secured position in a hankruptcy pmccading. Securing
<br />the Property includes, but is hot limbed lo, entering the Property to make repairs, change locks, replace or board up doors
<br />and windows, drain water Iron pipes.. eli rninate buil(ling or other code violations or dangerous renditions, and have utilities
<br />hared on or on.. Ntitoneh Land...huy la1 e uclion rri&, On, Section 9. Lender does not have to do so and is not under any
<br />duty or ohligation to do So. It nsugreedthat cndcr rrurs no h elfcity for not taking any or all actions ao[horiacd under this
<br />Seat(,. 9.
<br />Any amounts dishhraed by I cndcr under this Section 9 shall become additional debt of Borrower secured by this
<br />Sunrity hns[runlent. These amounts shall hear interest at the Note rate from the date of disbursement and shall be payable,
<br />with such interest, upon notice from lender to Borrower i extract ing payment.
<br />If this Security l listtumcnt is on a leasehold. Borrower shall comply with all the provisions of the lease. ItBorower
<br />acquires fee title to the propel the l easehold and the Ice tide Shull not merge unless Ixndcragrees ht themcrccrinwriting.
<br />10. Mortgage Insmrance. If Lender required Mortgage Insurance as a condition of making the Loan,
<br />Borrower shall pay the Ill rnmms required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage
<br />Insurance coverage, required by [,coca emose, to be available Iron, the mortgage insurer that In provided such
<br />insurance and Bo. n Lae cr aces required to make sepal Life ly desi gnuted payments toward the pretnlume for Mortgage Insurance,
<br />Borrower shal l pay the In enihms i equircl lit obtain ury onic,a"thania]ly equivalent to the Mortgage Insurance previously
<br />in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an
<br />alternate mortgage insurer selected by Lender. 11 substantially equivalent Mortgage Insurance coverage is not available,
<br />Bumtwcr shall continue to pay to Ixndcr the amount of the separately designated payments that weredue when the insurance
<br />Coverage ceased to he in effect. t cndcr will accept, use Land retain these payments as a nun - refundable loss reserve in lieu of
<br />Mortgage Insuomce, Such loss reserve shall be no n - refundable ,notwithstandihethetact that the Loan is ultimately paid in
<br />full, and Lender Sh:dl not he requital to pay Borrower any i Acres or mornings on such loss reserve. Lcndcr can no longer
<br />require loss rcaerve payments it Mortgage Insurance coverage (in the amount and for the period that Lender requires)
<br />provided by an insurer Selutcl hV I cMcr ag ;om hceomes available, is obtained, and Under requires separately designated
<br />payments toward the premiums for Mortgage Insurance It Lender required Mortgage Insurance as a condition of making the
<br />Loan and Borrower was required to make seferacly dcsonti cd payments toward the premium, for Mortgage insurancc,
<br />Borrower shalt pay the prceians required to maintain Mortgage hisurance in effect, or to provide a nom refundable loss
<br />reserve, until Lender s ie(luvensnt for .Mnrguge insurance ends in accordance with any written agreement between
<br />Bumtwcr and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this
<br />Section 10 LaHart, liorrov,ri' ohl"',non to pav inerest at the roc provided in oversold.
<br />Mortgage Insurance rsiniha" Lender (or aty entity that purchases the Note) for certain losses it may incur it
<br />Borrower does not repav the I,w l as agreed. Bori odor is net a party to the Mortgage Insurance.
<br />NEBRASKA — .Simla rwui IyF.1nnitNlae /freddie Mae IN I I O HNI INS'rltUNIFNT Pnnn3a28 I /al hN,e4180agee)
<br />9754 CV (IIISJ
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