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200906103
<br />work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance
<br />proceeds, Lender shall not be required to pay Borrower any interest or eaniings on such proceeds. Fees for public adjusters, yr
<br />other third parties, retained by $orrower shall not be paid out of the insurance proceeds and shall be the sale obligation of
<br />$orrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance
<br />proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid
<br />to $orrower. Such insurance proceeds shall be applied in the order provided for in Section 2.
<br />If $orrower 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 instuance 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) $orrower's tights to
<br />any insurance proceeds in an amount not to exceed Che amounts unpaid raider 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 $orrower) under all
<br />insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Leader may use
<br />the insurance proceeds either to repair yr restore the Property or to pay amounts unpaid under the Note or this Security
<br />Instrument, whether or not then due.
<br />6. Occupancy. $orrower shall occupy, establish, and use the Property as Borrower's principal residence within 60
<br />days after Che execution of this Security Instrument artd shall continue to occupy the Property as Borrower's principal residence
<br />for at least one year after the date of accupattcy, unless Leader otherwise agrees in writing, which consent shall trot be
<br />uureasat>ably 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 tv deteriorate or commit waste on the Property. Whether or not Borrower is residing iu
<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 the Property if damaged tv avoid fitrther deterioration or damage. If insurance or condemnation
<br />proceeds are paid in connection with damage to, or the taking of, the Froperty, Borrower shall be responsible for repairing or
<br />restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs
<br />and restoration in a single payment yr in a series of progress payments as the work is completed. If Che insurance or
<br />condemnation proceeds are not sufficient 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 />tnay inspect the interior of the improvements on the Properly. Lender shall give Borrower notice at the time of or prior to such
<br />art interior inspection specifying such reasonable cause.
<br />S. 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 $orrower or with Borrower's knowledge or consent gave materially false,
<br />misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information.) in
<br />connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's
<br />occupancy of the Property as Bor'rower's principal residence.
<br />9. Protection of Lender's Interest in the Property and Rights Linder this Security Instrument. If (a) Borrower
<br />fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might
<br />significantly affect Lender's interest in the Property and/or rights under this Security Instntrnertt (such as a proceeding in
<br />bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may ailaitt priority over dais Security
<br />Instrument yr to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for
<br />whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument,
<br />including protecting and/or assessing the value of the Property, and securing and/or repairing the Property, Lender's actions
<br />can include, but are not limited to: (a) paying any stuns secured by a lien which has priority over this Security Instrument;
<br />(b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Property and/or rights under this
<br />Security Instrument, including its secured position in a bankruptcy proceeding, Securing the Property includes, but is not
<br />limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes,
<br />eliminate btlildir>g or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may
<br />take action 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 thaC
<br />Lender incurs nv 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 Security
<br />Instrument. These vnounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such
<br />interest, upon notice from Lender to Borrower requesting payment.
<br />NEBRASKA-Single Family-Fannie Mae/Freddle Mac UNIFORM INSTRUMENT
<br />Form 30281/01
<br />GREATLAND ^
<br />ITEM T2688L6 (0308~MEpS (Page 6 of 12 pubes) To Order Call:1-80o-530.9393 d Fax 818-791-1131
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