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<br />retained by Borrower shall not be paid out of the insurance proceeds and shall be We sole obligation of Borrower.
<br />If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance pmccals
<br />shell be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid
<br />to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2.
<br />If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and
<br />related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has
<br />offered to soul, 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 tither of Borrower's rights (other than the right to any refund
<br />of untamed 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 />6. Occupancy. Borrower shall occupy, establish, and use to Property as Borrower's principal residence
<br />within 60 days alter the execution of this Security Instrument and shall continue to occupy the Property as Borrower's
<br />principal residence for at least One year alter the date of occupancy, unless Lender otherwise agrees in writing, which
<br />consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's
<br />control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy,
<br />damage or impair tie 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 Properly in order to prevent the Property from
<br />dcu riorating or decreasing in value 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. It insurance or condemnation proceeds are paid in connccri n with damage to, or the taking
<br />of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Louder has released
<br />proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in
<br />a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient
<br />to repairer restore the Property, Borrower is nul relieved of Borrower's obligation for the completion of such repair
<br />or restoration.
<br />Lender or its agent may make reasonable entries upon and inspections of the Property. tl' n has reasonable
<br />cause, Lender may inspect the interior of the improvements on the Properly. Lender shall give Borrower notice at
<br />the lime of or prior to such an interior inspection specifying such reasonable cause.
<br />N. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process,
<br />Borrower nr any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave
<br />materially false, misleading, or inaccurate information or statements in Lender (or failed to provide Lender with
<br />material information) in connection with the Loan. Material representations include, but are not limited to,
<br />representations concerning Borrower's occupancy of the Property as Borrower's principal residence.
<br />9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a)
<br />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 Property and /or rights under this Security Instrument
<br />(such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for camorement of a lien which may
<br />again priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the
<br />Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the
<br />Property and rights under this Security Instrument, including protecting aid /or assessing the value of the Property,
<br />and securing and /or repairing the Property. Lender's actions cirri include, but are not limited to: (a) paying any sums
<br />secured by a lien which has priority Over this Security Instrument; (b) appearing in coma; and (c) paying reasonable
<br />auomeys' fees fo protect its interest in the Property and/or lights under this Security Instrument, including its secured
<br />position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering The Property to
<br />make repairs, change looks, replace or board up doors and windows, drain water from pipes, eliminate building or
<br />Other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action
<br />NEBRASKA -Single Family— Fannie Mae /Freddie Mac UNIFORM INSTRUMENT DocMag/e (TKtimyg eoDeaB -rasa
<br />Form 3028 1/01 Pure 6 of 13 w� ww.tlac.nagiacom
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