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coverage, not otherwise required by Lender, for
<br />standard mortgage clause and shall name Lender
<br />In the event of loss. Borrower shall give
<br />ofloss ifnat n
<br />order shall have the rig
<br />o ensure the work has b
<br />Lender may disburse
<br />as the work is complete
<br />surmce proceeds, Lem
<br />adjusters, or other thin
<br />blieation of Borrower.
<br />200206363
<br />to, or destruction of the Property, such policy sball include a
<br />ogee and/or as an additional loss payee.
<br />atice to the insurance carrier and lender. lendermaymakeproof
<br />nd Borrower otherwise agree in writing, any insumnceproceeds,
<br />sndeq shall be applied to restoration or repair of the Property, if
<br />cr's securi ty is not lessened. During such repair and restoration
<br />proceeds until Lender has had an opportunity to inspect such
<br />s satisfaction, provided that such inspection shall be undertaken
<br />and restoration in a single payment or in a series of progress
<br />s made in writing or Applicable law requires interest to be paid
<br />)pay Borrower any interest or earnings on such proceeds. Fees
<br />Twer shall not be paid out of the insurance proceeds and shall be
<br />air is not economically feasible or Lender's security would be
<br />ns secured by this Security Instrument, whether or not then due,
<br />amceeds shall be applied in the order provided for in Section 2.
<br />le, negotiate and settle any available insurance claim and related
<br />ionce from Lender that the insurance carrier has offered to settle a
<br />to 30 -day period will begin when the notice is given. In either
<br />use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the NOW or this security
<br />Instrument, whether or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within
<br />60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal
<br />residence for at least one year after the date
<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 Protection ofthe Property, Inspections. Borrower shall not destroy,
<br />damage or impair the Property, allow the Property to deterimine or commit waste
<br />on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to
<br />prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to
<br />c --- c.1...e....:.....en,..m:..., 1.-1 —,. i—Ilv fnacdlr.Bnr.nwer.choll nromntly renair the Prmerty ifdamaged to
<br />taMng of, the Property, Borrower shall be responsible for repairing ar restoring the Property only if Lender has released
<br />proceeds for such purposes. Lender may disburse proceeds tbrthe repairs and restoration tnasmgle payment or in asenes
<br />oTo rogress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or
<br />[estme the Property, Borrow- is not relieved of Bonower's obligation for the completion of such repair or restoration.
<br />Lender or its agent maymake reasonable entries upon and inspections ofthe Property. Ifi[has reasonable cause,
<br />Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or
<br />prio, t - so h c 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 m entities acting at the direcfion of Borrower or with Borrower's knowledge or consent gave
<br />materially false, misleading. or inaccurate information or statements to Lender (or failed to provide Lender with material
<br />information) iv connection with ft1e Loan. Material representations include, butare votNrrdted lo, representations concerning
<br />Borrower's occupancy of the Property as Borrower's principal residence.
<br />9. Protection of Lender,a Interest in the Property and Rights Under this Security Instrument If
<br />(a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal
<br />proceeding that might significantly affect Lender's interest in the Properly anend/orTights under this Security Instrument (such
<br />as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for forcement of a lien which may attain priority
<br />over this Security Instrument or to enforce laws or reglilmons), or (c) Borrower has abandoned the Property, then Lender
<br />may do and pay for 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 actions can include, but are not limited lo: (a) paying any sums secured by a lien which has priority over
<br />this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the
<br />Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing
<br />the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors
<br />and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities
<br />turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is 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 />Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this
<br />Security Instrument. These amounts shall bear interest at the Note rate from the date ofiisbursement and shall be payable,
<br />with such interest, upon notice from Lender to Borrower requesting payment.
<br />Iflhis Security Instrument is on a leasehold, Borrower shall comply with all the provisions ofthe lease. IfBodmwer
<br />acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the mergerm writing.
<br />10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan,
<br />Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage
<br />Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such
<br />insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance,
<br />Borrower shall paythe premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously
<br />in effea 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. If substantially equivalent Mortgage Insurance coverage is not available,
<br />Bonower shall continue to pay to Lender the amount ofthe separately designated payments that were due when the insurance
<br />coverage ceased to be in effect. Lender will accept, use and retain lliesepayments as a non-refuodab le loss reserve in lieu of
<br />Mortgage Insurance. Such loss reserve shall be ion- refundable, notwillistandmgthefact that the Loan is ultimately paid in
<br />full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer
<br />require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires)
<br />Bonower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non- remnaame 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 termination or until termination is required by Applicable Law. Nothing m this
<br />Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note.
<br />Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if
<br />Borrower does not repay the Loan as agreed. Borrower Is not a party to the Mortgage Insurance.
<br />NEBRASKA -- Single Fanvly —Fanni a MWFluldie Mec UNIFORM INSTRUMENT Farm3038 1 /01 (p,,4,yx Pagu)
<br />9754.CV (IM) (un5Q
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