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<br />200900975
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<br />provided that sueh inspection shall bc undertaken promptly. Lcnder may disburse proceeds for the repairs and
<br />restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement
<br />is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be
<br />required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties,
<br />retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower.
<br />If the restoration or repair is not economically feasible Or Lender's security would be lessened, the insurance proceeds
<br />shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid
<br />to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2.
<br />If Borrower abandons tbe Property, Lender may file, negotiate and sellle any availahle insurance claim and
<br />rclated matters. If Borrower does not respond witbin 30 days to a notice from Lender that the insurance carrier has
<br />offered to settle a claim, then Lender may negotiate and sellle the claim. The 30-day period will begin wben tbe
<br />notice is given. In either cvent, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby
<br />assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed tbe amounts unpaid
<br />under tbe Note or this Security Instrument, and (b) any other of Borrowcr' s rights (other than the right to any refund
<br />of unearned prcmiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights
<br />arc applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the
<br />Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due.
<br />6. Occupancy. Borrower sball occupy, establisb, and use the Property as Borrower's principal residence
<br />witbin 60 days after the execution ofthis Security Instrument and shall continue to occupy the Property as Borrower's
<br />principal rcsidence for at least one year after tbe date of occupancy, unless Lender otberwise agrees in writing, which
<br />consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's
<br />control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy,
<br />damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whetber or not
<br />Borrower is residing in tbe Propcrty, Borrower sbalt maintain tbe Property in order to prevent the Property from
<br />deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Scetion 5 that repair or
<br />restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further
<br />deterioration or damage. If insurance or condemnation proceeds arc paid in connection witb damage to, or the taking
<br />of, the Property, Borrower sball be responsible for repairing or restoring the Property only if Lender has released
<br />proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in
<br />a scries of progress payments as tbe work is completed. If the insurance or condemnation proceeds arc not sufficient
<br />to repair or restore the Property, Borrowcr is not relieved of Borrower's obligation for the completion ofsucb repair
<br />or restoration.
<br />Lender or its agent may make reasonable ~'lltries upon and inspections of tbe Property. If it bas reasonable cause,
<br />Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time
<br />of or prior to sucb an intcrior inspection specifying sueb 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 Lcnder (or failed to provide Lender with
<br />material information) in c\mnection with the Loan. Material representations include, but are not limitcd to,
<br />representations concerning Borrower's occupancy of the Property as Borrower's principal rcsidence.
<br />9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a)
<br />Borrower fails to perform tbe covenants and agreements contained in this Security Instrument, (b) there is a legal
<br />proceeding that might significantly affect Lender's interest in tbe Property and/or rights under this Security Instrument
<br />(such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may
<br />attain priority over tbis Security Instrument or to cnforce laws 01' regulations), or (c) Borrower has abandoned the
<br />Property, then Lender may do and pay for whatevcr is reasonable or appropriate to protect Lender's interest in the
<br />Property and rights under this Security Instrument, including protecting and/or assessing the value of tbe Prop~Tty,
<br />and securing and/or repairing the Property. Lender's actions can include, but arc not limited to: (a) paying any sums
<br />secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable
<br />allorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured
<br />position in a bankruptcy proceeding. Securing the Property includes, but is not limitcd to, entering the Property to
<br />makc repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or
<br />other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action
<br />under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that
<br />Lender incurs no liability for not taking any or all actions authorized under this Section 9.
<br />Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this
<br />Security Instrument. These amounts sball bear interest at the Note rate from the date of disbursement and shall be
<br />payable, with such interest, upon notice from Lender to Borrower requesting payment.
<br />If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease.
<br />Borrower shall not surrender the leasehold estate and intercsts herein conveyed or terminate or cancc1the ground lease.
<br />Borrower shall not, without the express wrillen consent of Lender, alter or amcnd the ground leasc. If Borrower
<br />acquires fee title to the Property, the leasehold and the fee tit]e shall not merge unless Lender agrees to the merger
<br />in writing.
<br />10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower
<br />shall pay the premiums required to maintain tbe Mortgage Insurance in effect. If, for any reason, tlle Mortgage
<br />Insurance coverage required by Lendcr ceases to be available from tbe mortgage insurer that previously provided such
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<br />NEBRASKA--Singla Famlly--Fannia Maa/Freddle Mac UNIFORM INSTRUMENT - MERS
<br />Form 3028 1/01 Page 5 of 11
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