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2002091GO
<br />one e, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a
<br />standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee.
<br />In the event of loss, Borrower shall give prompt notice to the Insurance carver and Lender. Lendermaymakeproof
<br />ufloss ifnot made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds,
<br />whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair ofthe Properly, it-
<br />the restoration or re{+air is economically feasible and Lender's security is not lessened. During such repair mid restoration
<br />period, Lender shell have the npgjhtt to hold such insurance proceeds until Lender has had an opportunity to inspect such
<br />Propeerrtyty to ensure the work has bcem tour leted to Lender's satisfaction, provided that such inspection shall be undertaken
<br />IT
<br />romp Lender may disburse proceeds for the repairs and restoration in a sin Ic ppayment ur m a series of progress
<br />paymentsas the work is umumleted. Unlessanagreementismadeinwritingor Applicable Law requires interest to be paid
<br />the sole obligation of Borrower. if the restoration or repair is not economically feasible or Lender's security would be
<br />lessened, the insurance proceeds shall be applied to the stuns secured by this Security Instrument, whether or not then due,
<br />with the excess, if any, paid to Burrower. Such ulsuranew oceeds shall be applied m the order provided for in Section 2
<br />If Borrower abandons the Property, Lender may e, negotiate and settle any available insurance claim and related
<br />matters IlBunuwcr does not respond within 30 days to a notice from Lender that the insurance camerhasofferedtosettlea
<br />claim, then Lender may negotiate and settle the claim. The 30 -day period will begun when the notice is given. In either
<br />event, or if Lender acquires the Properly under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's
<br />rights m any insurance przwecds in an anmowit not to exceed the m loon unpaid under the Note or this Security lnstnlment,
<br />and (b)anyother of circle arights(otherthan then ghttoanyrefundofunearned prenu as paidby Borrower)urnderall
<br />insurance policies covering . the Property, insofar as such rights are applicable to the coverage of the Property. Lender may
<br />use the insurance prrxccds tithes to repair or restore the Property or to pay amounts unpaid Inder the Note or this Security
<br />In whether or not then due.
<br />6. Occupancy. Bun ower 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 writuag, 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 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 Burrower 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 is condition. Unless it is detemm�ed pursuant In
<br />Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to
<br />avoid further deterioration or damage. If insurance; or condemnation prweeds me paid in connection with damage to, or the
<br />taking uf, the Proputy, Borrower shall be responsible for repalong or restoring the Property only if Lender has released
<br />proceeds for such purpose s. Lender may disburse In reeds for the repairs and restoretionin asingle payment ormaseries
<br />of progress poynhrnts as the work is completed If the insurance or condemnation proceeds are not sufficient [o repair or
<br />restore the Property, Burrower Is not relieved ofBonower's obligation for the completion of such repair nr restoration.
<br />Lender ants agent may make rcasonablc entries upon and inspections ofBrePropparty. It has reasonable tense,
<br />Leander may inspect the Interior of the im Tovements on the FroPetry_ Lender shall give Borrower notice at the time of or
<br />prior to such an intenor inspection speel'ing auch reasonable cause.
<br />8. Borrower's an Application. Borrower all he in default if, during the Loan application process,
<br />Borrower or any persons ur entities acting at the direction of Borrower or with Borrower's knowledge or consent gave
<br />materially false, misleading, or inaccurate information or statemenls to Lerdcr Qv failed n jnnvide Lender with material
<br />information) in cunnceuou wrththe Loan. Material representations include, but are not limit to,representsmonsconceming
<br />Be.owe a occupancy of the Property as Borrower's principal residence.
<br />9. Protection of I .der'. Interest in the Property and Rights Under this Security Instrument. If
<br />(a) Borrower fails to perform the wvenants end agreements contained in this Security Instrument, (b) there is a legal
<br />proceeding that mi¢ht significantly aRect Lender's interest in the Property mid/or rights under this Security lnsvunent(stich
<br />as a pra;eeding in bankruptcy, probate, for condemnation or foReinve, for enforcement of a lien which may attain pnonty
<br />over this Socimty Inswment or to cnfomc laws or mgulations), or (o) Borrower has abandoned the Property, then Lender
<br />moo do and pay for whatever is reasonable or appropna[e (n protect Lender's interest in the Property and nghti under this
<br />Sceunty Instrument, including protecting Ruh or assessing the value of the Property, and securing and/or repairing the
<br />Property. Lender's actions can include, but are not limited t¢ (a) paying any sums secured by a lien which has In ever
<br />this Scounty [natrunient' (b) appearing in Luau, and (o) paying reasonable attorneys' fees to protect its interest in the
<br />Property and/or lights under this SecimN Instrument including its secured position in n bankruptcy proceeding Securing
<br />the rop-Ty incuu es, but is not limited io, enteringg the Property to make repairs, change Iceka, replace or board up d<xxs
<br />and windows, dram costa from pipes, elimmare bu ding or other code violations or dangerous conditions, and haveutilities
<br />tamed on or off Although Lender may take action under this Srelinn 9, Lcadm does not have to do so mid is not Ruder may
<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 rmder this Section 9 shall become additional debt of Borrower secured by this
<br />Securitylnstrument These amounts shall bear interest at the Note rate front the date of distant and shall be payable,
<br />with such interest, upon notice from Lender to Borrower requesting payment.
<br />If this Security risfrumenlsson a leasehold, Burrower shall comply with all the provisions of the lease. IfBorrower
<br />acquires tee title [o the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing.
<br />10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making die Loan,
<br />Borrower shall pay the premiums required to maintain the Mortgage lnsrvance in effect If, for any reason, the Mortgage
<br />Insurance coverage required by Lender ceau'fi n) he available [Tom the mortgage usurer that previously provided such
<br />.a.. a mid Borrower was required to make separately designated paymentstoward [he premiumsfor Mortgage Insurance,
<br />Borrower shall pay the prernimns required m obtain coverage substantially equivalent to the Mortgage Insurance previously
<br />in effect, at a cost substantially equivalent to the coal to Borrower of the Mortgage Insurance previously in effect, from an
<br />alternate m�rlgage insurer selected by Lender. If substantially equivalent Mortgage hnsmance coverage is not available,
<br />Borrower shall continue t to Lender the amount of the separately designated payments that were due when theiasurance
<br />coverage ceased to be m
<br />.Way cl. Lerider will accept, use and retain these payments as a non- refmdable loss reserve in lieu of
<br />Morgagelteurance Such loss resorve shall he not- refundable, notwithstanding die fact that the Loan is ultimately paid in
<br />full, and Leader shall not be required to pay Borrower any interest or earnings on such loas rescrva Lender car nu longer
<br />require loss reserve payments if Mortgage lnsaance wvernge (in the amount and for the period that Lender requires)
<br />provided by an insurer selected by Lender again becomes available, is obtained, and Lenderrequiies separately designated
<br />payriems toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance m a wndnion ofmaking the
<br />Loan and Borrower was required to make separately designated payments toward Ilse prenoiuns for Mortgage Insurance,
<br />Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non - refundable loss
<br />reserve, until Lender's requirement for Mortgage Insurance ends in acwrda ce with any written agreement between
<br />Borrower and Lender providing for Such termination or until termination is required by Applicable Law_ Nothing in this
<br />Section 10 affects Borrower's obligation to pay interesl at the rate prewid d in the Note
<br />Mortgage Insurance reimburses Lender (or mry ellury 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 hisurance.
<br />NEBRASKA — Single Family-- Famle. MaelF'roddle Mac UNIFORM INS I'HUMENT Fm.n }ma 1101 (page41f8page1)
<br />9754.CV(1 /03) 15ffiOW
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