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200901626 work has been l:ompleted to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse prol:eeds for the repairs and restoration in a single payment or in a series of progress payments as the work is wmpleted. Unless an agreement is made in writing or Applkable Law requires interest to be paid on sUl:h insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on sUl:h proceeds. Fees for publil: adjusters, or other tllird parties, retained by Borrower shall not be paid out of the insurance prol:eeds 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 insuranl:e proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the eXl:ess, if any, paid to Borrower. Such insuranl:e prol:eeds shall be applied in tlle order provided for in Section 2. If Borrower abandom; tlle Property, Lender may tile, negotiate and settle any available insurance claim and related matters. If Borrower does not respond witllin 30 days to a notice from Lender that the insurance l:arrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 3D-day period will begin when tlle notil:e is given. In either event, or if Lender acquires the Property under Section 22 or otllerwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to eXl:eed the amounts unpaid under the Note or tllis Sel:urity Instrument, and (b) any other of Borrower's rights (otller than tlle right to any refund of unearned premiums paid by Borrower) under all insurance policies covering tlle Property, insofar as such rights are applil:able 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 tllis Sewrity Instrument, whether or not tllen due. 6. Occupancy. Borrower shall Ol:WPY, establish, and use the Property as Borrower's principal residence witllin 60 days after the exewtion of this Security Instrument and shall wntinue to occupy tlle Property as Borrower's prindpal residenl:e for at least one year after the date of ocwpanl:Y, unless Lender otherwise agrees in writing, whil:h wnsent shall not be unreasonably withheld, or unless extenuating l:ircumstances exist which are beyond Borrower's wntrol. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow tlle Property to deteriorate or commit waste on tlle Property. Whether or not Borrower is residing in tlle Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or deneasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not ewnomically feasible, Borrower shall promptly repair the Property if damaged to avoid furtller deterioration or damage. If insurance or condemnation prol:eeds are paid in Willlel:tion with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse prol:eeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. If the insuranl:e or condenmation proceeds are not suftident to repair or restore the Property, Borrower is not relieved of Borrower's obligation for tlle 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 sUl:h an interior inspection specifying such reasonable l:ause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the diredion of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in wnnedion with the Loan. Material representations indude, but are not limited to, representations concerning Borrower's ol:cupancy of the Property as Borrower's principal residenl:e. NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT ~:, III . -6(NE) (0811) Page 7 of 15 I"itials: '.~t---. Form 3028 1/01 @