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200210423
<br />coverage, 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 ppayee.
<br />In the event of loss. Borrower shall give prompt notice to the insurance carrier and Lender. Lender maymake proof
<br />ofloss ifnot made prompdyby Borrower. Unless Lender and Borrower oil
<br />whether or not the underlying insurance was required by lender, shall he i
<br />the restoration or repair is economically feasible and Lender's security is
<br />period, Lender shall have the right to hold such insurance proceeds until
<br />Property [o ensure the work has been complctcd to lender's satisfaction, p
<br />promptly. Lender may disburse proceeds for [he repairs and resonant.,
<br />payments as the work is completed. Unless an agreement is made in writir
<br />on such insuance procccda, Lender shall not be required to pay Borrnwcr
<br />for puhlic adjusters, or other third parties, retairrcd by Borrower shall not b
<br />the sole obligation of Borrower. If [he restoration or repair is not econ,
<br />lessened, the insurance proceeds shall be applied to the sums secured by d
<br />with the excess, if any, paid to Borrower. Such insurance proceeds shall t
<br />perry, lender may file, negotiate and settle any available insurance claim and related
<br />within 30 days m a notice from Lender that the insurance carrier has offered to settle a
<br />claim, then Lender may negotiate antl settle the claim. The 30 -day period will begin when the notice is given In either
<br />even[, or if Lender acquires the Pmperty under Section 22 or othuwise, Borrower hereby assigns to Lender (a) Borrower's
<br />rights to any insurance proceeds in an amount not to execcd the amounts unpaid under the Note or this Security Instrument,
<br />and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all
<br />insurance policies covering the Property, insofar as such rights are applicable in 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 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 Ia:nder 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. Yreserva[ioq Mahnenance end Protection of [he Property; Inspections. Borrower shall not destroy,
<br />damage or impair the Property, allow the Property m deteriorate or commit waste
<br />on the Property. Whether or inn Burrower is rending in the Property, Borrower shall maintain the Property in order to
<br />prevent the Property from deteriorating or decreasing m 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 it damaged to
<br />avoid further deterioration or damage. if insurance nr amdemnn[ion proceeds are paid in connection with damage w, or the
<br />taking tit; the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released
<br />prceccds fur such purposes. Lender may disburse pnseerls for [he 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 />resore the Property, Bor[ower is not rolieved of Rnmiwei s obligation for the completion of such repair or restoration.
<br />Lender or its agent may make reasonable entries upon and inspections of the Property. If i[ has reasonable cause,
<br />Lender may inspect the interior of the improvements nn the Property. Lender shall give Borrower notice an the time of or
<br />prior to such 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 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 limited m, 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 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 Lenders interest in the Property and/or rights under this Security Instrument (such
<br />as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of alien which may attain priority
<br />over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Properly, 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 to (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 doers
<br />and windows, drain water from pipes, eliminate budding or other code violations or dangerous conditions, and have utilities
<br />turned.n 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 dcht 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 Se car
<br />rty Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower
<br />acquires fee title to the Property, the leasehold and the fee tide shall not merge unless lender agrees to the merger in writing.
<br />to restoration
<br />out of the
<br />in a series of progress
<br />lutes interestto be paid
<br />on such proceeds. Fees
<br />10. Mortgage
<br />Borrower shall pay the precut
<br />Insurance coverage required
<br />insurance and Borrower was r
<br />Borrower shall pay the premix
<br />in effect, at a cost substantial
<br />alternate mortgage insurer sel
<br />full, and Lender shall not he n
<br />require loss reserve payment
<br />provided by an insurer selecte
<br />payments toward the premium
<br />Loan and Borrower was requi
<br />Borrower shall pay the premil
<br />reserve, until Lender's requii
<br />Borrower and Lender providil
<br />Section 10 affects Borrower's
<br />Mortgage Insurance
<br />Borrower does not repay the I
<br />to matt
<br />Ises to
<br />;age Insurance as a condition of making the Loan,
<br />Insurance in effect. If, for any reason, the Mortgage
<br />the mortgage insurer that previously provided such
<br />ayments toward thepremiums fir Mortgage Insurance,
<br />is required to obiam coverage substantiallveuuivalent to the Mortgagelnsuranw previously
<br />equivalent to the cost to Burrower of the
<br />awl by Lender. If substantially equivale
<br />o lender the amount of the separ ately de:
<br />Lender will accept, use and retain these
<br />to
<br />the
<br />is not available,
<br />as a non-refundable loss reserve in lieu of
<br />the fact that the Loan is ultimately paid in
<br />r such Inns reserve. Lender can no longer
<br />and for the period that Lender requires)
<br />h) make separately designated payments toward the premiums for Mortgage Insurance,
<br />required to maintain Mortgage Insurance in effect, or [o provide anon- refundable loss
<br />au for Mortgage Insurance ends in accordance with any written agreement between
<br />x such termination nr until termination is required by Applicable law. Nothing in this
<br />igation to pay interest at the rate provided in the Note.
<br />nburses Lender (or my entity that purchases the Note) for certain losses it may incur if
<br />i as agreed. Borrower is not a party to the Mortgage Insurance.
<br />NEBRASKA - Single Family -FaaNe Mae /Freddie Mac UNIFORM N'STRITal Fwa,3028 11011pa8e418p,ge.)
<br />9954.CV 062) CII169
<br />fill I i IQXXru492)
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