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<br />200512395
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<br />If Borrower fails to Inaintain any of the eoverages deseribed above, Lender may obtain insuranee coverage, at Lender's
<br />option and Borrower's expense. Lender is under no obligation to purchase any particular typc or amount of coverage.
<br />Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or
<br />the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was
<br />previollsly in effect. Borrower acknowledges that the cost of the insurance coveragc so obtained might significantly exceed
<br />thc cost of insurance that Borrower could have obtaincd. Any amounts disbursed by Lender under this Section 5 shall become
<br />additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the
<br />date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment.
<br />All insuranee policies required by Lender and renewals of such policies shall be subjeet to Lender's right to disapprove
<br />such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss
<br />payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly
<br />give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not
<br />otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage
<br />clause and shall name Lender as mortgagec and/or as an additional loss payee.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of
<br />loss if not 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 Lcnder, 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 proceeds until 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 be undertaken
<br />prOlnptly. Lender may disburse proceeds for the repairs 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 on
<br />such insurance proceeds, Lender shall not be rcquired to pay Borrower any interest or earnings on such proceeds. Fees for
<br />public adjusters, or other third parties, retained by Borrower shall not be paid out of thc insurance proceeds and shall be the
<br />solc obligation of Borrower. If the restoration or rcpair is not economically feasiblc or Lcnder's security would bc lcsscned,
<br />the insurance proceeds shall be applied to the sums securcd by this Security Instrument, whether or not then due, with the
<br />excess, if any, 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 insllrance claim and related
<br />matters. If Borrowcr does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a
<br />claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event,
<br />or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to
<br />any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and
<br />(b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all
<br />insuranee policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may lIse
<br />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 60
<br />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 of occupancy, unless Lender otherwise agrees in writing, which consent shall not
<br />be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage
<br />or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is
<br />residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or
<br />decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not
<br />economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If
<br />insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be
<br />responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may
<br />disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is
<br />completed. If thc insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not
<br />relieved of Borrower's obligation for the completion of such repair or restoration.
<br />Lender or its agent may Inake reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender
<br />may inspect the intcrior of the improvemcnts on the Property. Lender shall givc Borrowcr notice at the time of or prior to
<br />such an interior inspection specifying such reasonable cause.
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<br />NEBRASKA~<;ingle Family-Fannie MaelFreddie Mae llNIFORM INSTRUMENT
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<br />ITEM 1915L5(0011) MFNE3111
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<br />( P!.Ige 5 r!f 11 p!.lf.:es)
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<br />Form 3028 1/01
<br />4000574788 GREATLAND.
<br />To Order Gall: 1-800-530-93930 Fax: 616-791-1131
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