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<br />200606069
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<br />Loan Number:9631556292
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<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 />previously in dfect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the
<br />cost of insurance that 13orrower could have obtained. Any amounts disburscd by Lender under this Section 5 shall become
<br />additional debt of Borrower secured by this Sccurity Instrument. These amounts shall bear interest at the Note rate trom the
<br />date of disbursement and shall be payable, with such interest, upon notice from Lcnder to Borrower requesting payment.
<br />All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove
<br />such policies, shall include a standard mortgage clausc, and shall name Lcnder as mortgagee and/or as an additional loss payee.
<br />Lender shall have thc right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to
<br />Lender all receipts of paid premiums and rencwal notices. If Borrower obtains any form of insurance coverage, not otherwise
<br />required by Lender, for damage to, or destruction of~ the Property, such policy shall include a standard mortgage clause and
<br />shall name Lender as mortgagee and/or as an additional loss payee.
<br />In the event of loss, Borrower shall give prompt notice to thc 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 procceds,
<br />whether or not the underlying insurancc was required by Lender, shall be applied to restoration or repair of the Property, if the
<br />restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period,
<br />Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to
<br />ensurc the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly.
<br />Lender may disburse procccds for the repairs and restoration in a single paymcnt or in a series of progress payments as the
<br />work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance
<br />proceeds, Lendcr shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or
<br />other third parties, rctained by Borrower shall not be paid out of the insurance procecds and shall be the sole obligation of
<br />Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance
<br />proceeds shall be applied to thc sums secured by this Security Instrument, whether or not then duc, with the excess, if any, paid
<br />to Borrower. Such insurance proceeds shall be applied in thc 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. If Borrower 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 thc 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 cxceed 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 />insuranec policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use
<br />the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Notc 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 ofthis Security Instrument and shall continue to occupy the Property as Borrower's principal residence
<br />for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be
<br />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 or
<br />impair the Property, allow the Property to deteriorate or commit waste on thc Property. Whether or not Borrower is residing in
<br />the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value
<br />due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible,
<br />Borrower shall promptly repair thc Property if damaged to avoid further deterioration or damage. If insurance or condemnation
<br />proceeds are paid in connection with damage to, or the taking of~ the Property, Borrower shall be responsible for repairing or
<br />restoring the Property only if Lendcr has released proceeds for such purposes. Lender may disburse proeceds for the repairs
<br />and restoration in a single payment or in a series of progress payment~ as the work is completed. If the insurance or
<br />condemnation proceeds arc not sutlieicnt to repair or restore the Property, Borrower is not relieved of Borrower's obligation
<br />for the completion of such repair or restoration.
<br />Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender
<br />may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such
<br />an interior inspcction specifying such reasonable cause.
<br />8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or
<br />any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false,
<br />misleading, or inaccurate information or statements to Lendcr (or failed to providc Lendcr with material information) in
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<br />NEBRASKA-Single family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
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<br />Form 3028 1/01
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<br />ITEM 1915L5 (0308)
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<br />(Page 5 of /I paxes)
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<br />GreatDocs ThI
<br />To Order Call: 1-800-968-5775
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