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OFT 6�
<br />2002186 200214012
<br />coverage,
<br />re
<br />not otherwise quired 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 />It the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof
<br />of loss ifnot made prompt fly by Borrower. Unless Lender and Borrower otherwise agree in welling, any insurance proceeds,
<br />whether or not the underlying insurance was rcq in red by Lcnder, shall be applied to restoration or repair ofthe Property, if
<br />the resonation or repair is economically feasible and Lender s security is not lessened- During such repair and restoration
<br />period, Lender shall have the 1 g m hold such insuranec proceeds mod Lender has had an opportunity to inspect such
<br />Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall he undertaken
<br />promptly. Lender rile disburse proceeds for the repairs and resmrati on 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 he paid
<br />on such insurance proceeds, Lender shall not be required to 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 ofthe insurance proceeds and shall be
<br />the sole obligation of Borrower. If the restoration or repair is not ecommnically feasible or Lender's security would be
<br />lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due,
<br />with the excess, ifany, paid 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 related
<br />matters. IfBorrower does not respond within 30 days to a notice from Leader that the insurance carrier has ofliered to settle a
<br />claim, then Lcnder may negotiate and settle the claim. The 30 -day period will begin when the notice is given. In either
<br />event, or if Lender acquires the Propertv under Section 22 or ofhcrwlse, Borrower hereby assigns to Lender (a) Borr'ower's
<br />rights to any insurance proceeds in an amount not to exceed 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 uneamed premiums paid by Borrower) under all
<br />insurance policies ravening the Properly, iusofor as such rights are applicable to the coverage ofthe Property Lender may
<br />use the insurance proceeds either to repair or lestm e the Property or to pay amounts unpaid under the Note or this Security
<br />Instrument, whether m 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 />l-wadencc far 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 ofthe 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 front deteriorating or decreasing in value due to its condition. Unless it is delemened pursuant to
<br />Section 5 that repair or restoration is not economically feasible. Borrower shall promptly repair the Property if damaged to
<br />,,,aid further date, ou mina or damage. It insurance or condemnation proceeds are paid in connection with damage to, or the
<br />taking of', the Propeny, Borrower shall he responsible for repairing or restoring the Property only it Lender has released
<br />proceeds for such purposes. Lender may disbar SC proceeds forthe repairs and restoration in a single payment or in a series
<br />of progress payments as the work is completed If the insurance or condenmation proceeds are not suflicieal to repair or
<br />restore the Property, Burrower is not relieved of Borrower's obligation for the completion ofsuch repair or restoration
<br />Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause,
<br />Lender may inspect the interior ofthe improvements on the Property. Lender shall give Borrower notice at the tittle of or
<br />prior to such an interior inspection specifying such reasonable cause.
<br />R. 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 Burrower or with Borrower's knowledge or consent gave
<br />materially false, misleading, or inaccurate infonnotion or statements to Lender (or failed to provide Lender with mafcrtsl
<br />information) in connection with the l ran. Material l epaSentations include, but are not invited to. 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. It
<br />(a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal
<br />procceding thahmight significanllyaffeet Lender's interest in the Property and/or rights under this Seem itylnsnument(such
<br />as a proceeding in bankruptcy, probate, for condemnation of forfeiture, for enforcement ofa lien which may attain priority
<br />over this See fly Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender
<br />may do and pay for whatever is reasonable or appropi into 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 seen, ing 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 ahomeys' fees to protect its interest in the
<br />Property and/or rights under this Security Instalment, 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 doors
<br />and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have no likes
<br />turned on or off. Although Lender may to ke sari on under th i s Scott on 9, Fell der does nut 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 authoriaed under this
<br />Section 9.
<br />Any amounts disbursal 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 ram from the date ofdisbwaement and shall be payable,
<br />Aid, such interest, upon notice from Lender to Borrower requesting payment.
<br />If ibis Security Instrument is on it leasehold, Borrower shall comply with all the provisions ofthe lease. IfBorower
<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 />l0. Mortgage Insui anee. If Lender required Mortgage Insurance as a condition of making the Loun,
<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 Leader ceases to be available from the mortgage insurer that previously provided such
<br />insurance and Borrower was required to make separately designated payments toward thepremiu ns for Mortgage Insurance,
<br />Bmmowcr 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 Borrower of the Mortgage Insmance previously in effect, from an
<br />alternate mortgage insurer selected by Lender. It substantially equivalent Mortgage Insurance coverage is nut available.
<br />Borrower shall continue to pay to Lender the notarial ofthe separatelydesignated payments that weredue when the insurance
<br />coverage ceacedlobe in effect. Lender will accept, use and retain these paymemsas a non - refundable loss rescrveinlieuof,
<br />Mortgagelnsurance Such loss reset noel
<br />- refundable, shall be no- refundable, notwithstanding the fact that the Loan is ultimately paid in
<br />full, and Lcnder shall not be required to pay Borrower any interest creaming, on such loss reserve. Lcndcreaa nu longer
<br />require loss reserve payments if Mortgage Insumncc 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 requires separamlydcsignatcd
<br />payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as accnclaron of'makingthe
<br />Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance,
<br />Borrower shall pay the premiums required m maintain Mortgage Insurance in effect, or to provide a non - refundable loss
<br />rescrvc, 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 obliggation to pay interest illiterate provided in the Note.
<br />Mortgage Insurance rcimbarses Lender (or any entity that purohases the Note) for certain losses array incur' if
<br />Borrower does not repay die Loan as agreed. Borrower isnot a party to the Mortgage Insurance.
<br />NEBRASKA - -Single FV,,K Fannie 1Lv /Fre0nle NVC 1'YIFOIIN INSTIi1lVIEVT Form3028 1101 (paye4ol Spages)
<br />,,,,(iO -e GI315o
<br />GOln1.11U]b1nt
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