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208213660 coverage. not otherwise required by lender, for damage to, or destruction of. the Property, such po Icy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. [ender may make proof of loss if not madepromptlyby Bon 'ewer. Unless Lender and Burrower otherwise agree in writing. any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration Or repair orthe Property, if the restoration or repair is economically feasible and Lender's security is not lessened, During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds fur the repairs and restoration in a single payment Or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be requited to pay Borrower any interest or earning tin such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not he paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Inswment, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered no settle claim, then Iandcr may negotiate and settle the claim- The 30-day period will begin when the notice is given, m either event or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not exceed the amounts unpaid under the Now or this Security instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at (cast one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintmmnce and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Burrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible. Borrower shall promptly repair the Property if damaged to avoid further detcriuration or damage. If insurance nr cendcnmalion proceeds are paid in connection with damage tul arthe taking of, the Property, Borrower shall be responsible for repairing Or reswring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairsand restoration in a single payment or in a series Of pragresS payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Burrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements On the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Ronne er's Loan Application. Borrower .shall be in default it, during the Loan application process. Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially Palse, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy Of the Property as Borrower's pprincipal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, @) there is a legal proceeding that might significantly affect Lender's interest in the Property and /or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forUiture, for enforcement of alien which may attain priority over this Security Instrument or to enforce laws err regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever n reasonable or appropriate to pnitect lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lenders actions can include, but are not limited to: (a) paying any sums secured by lien which has priority over this Security Instrument (b) appearing in court: and (c) paying reasonable attorneys' fees to protect its interest In the Property and/or rights under this Security Instrument, Including Its secured position in a bankruptcy proceeding. Securing the Property includes, but is net limited to, entering the Property ro make repairs, choice locks. replace or board up doors and windows, drain water from pipes, eliminate building Or other code violations or dangerous conditions, and have utilities turned on or Off. Although Lender may take action under this Section 9,1 ender dues not have to do so and is not under art) duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed nt Lender under this Section 9 shut[ become e datteofdsbur of Borrower secured by this Security lnstrumcnL. These amounts shall bear interest at the Note rate from the date ofdisbursemen tand shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security lastument is on it ha,cheld, Borrower shall comply with all the provisions ofthe lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing 10. Mortgage Insurance. If lender required Mortgage Insurance as a condition of making the Iran, Borrower shall pay the premiums required to maintain the Mortgage Insurance in elect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to he available from the mortgagc insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mot ag igeInsurance, Borrower shall pay the premiums required to obtain cover age substantially equivalent to he Mortgage lnsuranceprevinasly in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower, shalfcontinue to pay to Under the amount of the separately designated payments that were due when the insurance coverage ceased to he in effect Lender will accept, use and retain these payments as a non - refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non- refundable, not withstanding the fact that the clan is ultimately paid in Fall, anTI -ender shall not be required to pay Borrower any interest or earnings on such loss- reserve. Lender can no longer require lass reserve payments If Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer scicded by Lender again beelmcs available, is obtained, and Under requires separately designated payments toward the premiums for Mortgage Insurance. It Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect. or to provide a nun - refundable loss reserve, until Lender's requirement for Mortgage hrsarance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination Is required by Applicable Law. Nothing to this Section 10 affects Borrower's obligation to pay interest at the race provided in falcate. Mortgage Insurance onnalmrses Lender (or any cmity that purchases the Note) for certain losses it may Incur if Borrower dery not repay the Loan as agreed. Burrower is not a party to the Mortgage Insurance. NEBRASKA Single Foruly-- Feeble MOe/Freadle Mac UNIFORM INSTRUMENT 1'orn3028 1 /01 (page4q /'3page,) 9754.wUroa 1a1Wa GO'r00030W)