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200210313 2011
<br />coverage, not otherwise required by Lender, for damage tom 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 giveprom t notice to the insurance carder and Lender lender maymake proof
<br />of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise 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 shall have the right to hold such insurance ptweeds until Lender has had an opportunity to inspect such
<br />Property tu ensure the workhes been completed to lender's satisfaction, provided that such inspection shall be undertaken
<br />promptly. Lender may disburse proceeds for the tepaim 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 to be paid
<br />on such insurance proceeds, Lender shall not he requiredto pay Borrower any interest or earnings on such proceeds. Fees
<br />for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be
<br />the sole obligation of Borrower If the restomlion or repair is not economically feasible or Under's security would be
<br />lessened, [he insurance proceeds ehall be applied to the sums secured by this Security Instrument, whether or not then due,
<br />with the excess, if any, paid to Borrower Such inaumnce proceeds shall be applied in the order provided for in Section 2.
<br />If Borrower abandons the Properly, lender may tile, negotiate and settle any available insurance claim and related
<br />metiers. ][Borrower does nottespoud within 30 days toamtice Gom Lender that the insurance carrier has offered to senlea
<br />claim, then Lender may negotiate and settle the claim. The 30 -day period will begin when the notice is given. In either
<br />event, or iCLender acquires the Property under Section 22orotherwise, Borrower hereby assigns to Lender (a) Borrower's
<br />rights to any insurance proceeds in an amount not m exceed the amounts unpaid under the Note or this Security Instrument,
<br />and (b) any otherof Borrower's rights (other than the right to any refund of unearned premiums PPaid by Borrower) under all
<br />insurance policies covering the 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 to pay amounts unpaid under the Note 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 orthe 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 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 />Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to
<br />avoid further deteriotation or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the
<br />taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released
<br />proceeds for such purposes. Lender 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 />restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration.
<br />Under r its agent may make reasonable entries upon and inspections of the Property. Ifit has reasonable cause,
<br />Lender may inspect the interior of the imppro��vements on the Property. Lender shall give Borrower notice at the time of of
<br />prior to such an interior inspection specitying 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 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 to Lender (or failed to provide Lender with material
<br />information) in connection with the Loan. Material representations include, but are not lintited m, representations concerning
<br />Borrower's occupancy of the Property as Borrower's vrincipal residence.
<br />9. Protection of Lender s Interest in the Property and Bights 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 Property and /or rights under this Security Instrument (such
<br />as a proceeding in bankruptcy, probate, for wndemnation of forfeiture, for enforcement of lien which may attain priority
<br />over ]his Security Instrument or to enforce laws of regulations), or (c) Borrower has abandoned the Property, then Lender
<br />may do and pay for whatever is reasonable of 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 notlimited to:(e) paying any sums secured by a lien which has priority over
<br />this Secmily Inshument; (b) afpearing in court; and (c) pa}nng reasonable attorneys' fees to protect its interest in the
<br />Property and /ot rights under flits Security lnstmment, including its secured position in a bankruptcy ptoceeding. Securing
<br />the Properly includes, but is not Gmiled to, entering the Property to make repairs, change locks, replace or board up doors
<br />end windows, drain water from pipes, eliminate building of other code violations or dangerous conditions, and have utilities
<br />corned on or oCL Although Lender may take action under this Section 9, Lender does not have to do an and is not under any
<br />duty or obligation to do so. II is agreed that lender incurs no liability for not taking any or all actions authorized under this
<br />Section
<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 of disbursement and shall be payable,
<br />with such interest, upon notice from Lender to Borrower requesting payment.
<br />If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. IfBormwer
<br />acquires fee title to 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 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 m be available from the mortgage insurer that previously provided such
<br />insurance and Borrower was required to make separately designated payments toward thegvemlums for Mortgage Insurance,
<br />Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously
<br />in effect, at a cost substantially equivalent to the cost to Burrower 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 />Borrower shall continue to to Lender the amount of the separately designated payments that were due when the insurance
<br />coverage ceased to be in effect. lender will accept, use and retain these Payments as a non - refundable loss reserve in lieu of
<br />Mortgage Insurance. Such loss reserve shall be non - refundable, notwithstanding the fact that the Loan is ultimately paid in
<br />Cull, 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 />provided by an insurer selected by Lender again becomes available, is obtained, and Lender requites separately designated
<br />Etoward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance is a condition ofmaking the
<br />Loan and Borrower was required to make separately designated payments toward the premiums 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 accordance 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 interest of 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 1s not a party to the Mortgage Insurance.
<br />NEBRASKA -- Single Fatuity
<br />-- Fannie Mae /Fndde Mae
<br />UNIFORM INSFRUMENT
<br />Form3028
<br />1 /01 rpage4of8yageo
<br />9954CV(I lo) GIIE21
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