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2010U388i
<br />provided that such inspection shall be undertaken promptly. Lender 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 ar Applicable Law requires interest to be paid an such insurance proceeds, Lender shall not be
<br />required to pay Borrower any interest yr earnings on such proceeds. Fees far public ad3usters, or other third parties,
<br />retained by Borrower shall not be paid out of the insurance proceeds and shall be the sale obligation of Borrower.
<br />If the restoration or repair is not economrcally feasible or Lender's security would be lessened, the insurance proceeds
<br />shall be applied to the sums secured by this Security lnstntment, 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 the Property, Lender may file, negotiate and settle any available insurance claim and
<br />related matters. if Borrower does not respond within 34 days to a notice from Lender that the insurance carrier has
<br />offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the
<br />notice is given. In either event, ar 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 the amounts unpaid
<br />under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund
<br />of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights
<br />are 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 Nate or this Security Instrument, whether ar not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence
<br />within 60 days after the execution of this Security Instnunent and shall continue to occupy the Property as Borrower's
<br />principal residence for at least one year after the date of occupancy, unless Lender otherwise 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. Whether or not
<br />Harrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from
<br />deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair pr
<br />restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further
<br />deterioration or damage. If insurance ar condemnation proceeds are paid in connection with damage to, or the taking
<br />of, the Property, Borrower shall 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 yr in
<br />a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient
<br />to repair ar restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair
<br />or restoration,
<br />Lender nr its agent may make reasonable entries upon and inspections of the Property- If it has reasonable cause,
<br />Lender nnay inspect the interior of the improvements an the Property. Lender shall give Borrower notice at the time
<br />of or prior to such an interior inspection specifying such 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 Lender (or failed to provide Lender with
<br />material information) in connection with the Loan. Material representations include, but are not limited to,
<br />representations concerning Horrower's occupancy of the Property as Borrower's principal residence.
<br />9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. if {a)
<br />Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal
<br />proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument
<br />(such as a proceeding in bankruptcy, probate, far condemnation or forfeiture, far enforcement of a lien which may
<br />attain priority over this Security Instrument ar to enforce laws nr regulations), or (c) Harrower has abandoned the
<br />Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the
<br />Property and rights under this Security Instnrment, including protecting and/or assessing the value of the Property,
<br />and securing andlor repairing the Property. Lender's actions can include, but are oat limited to: (a) paying any suixis
<br />secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable
<br />attorneys' 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 limited to, entering the Property to
<br />make repairs, change locks, replace ar 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 far not taking any or all actions authorized under this Section 4.
<br />Any amounts disbursed by Lender under this Section 9 shall became additional debt of Borrower secured by this
<br />Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be
<br />payable, with such interest, upon notice from Lender to Harrower requesting payment.
<br />If this Security Instrument is on a leasehold, Borrower small comply with all the provisions of the lease.
<br />Borrower shall not surrender the leasehold estate and 'interests herein conveyed or terminate or cancel the ground lease.
<br />Harrower shall not, without the express written consent of Lender, alter or amend the ground lease. If Borrower
<br />acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger
<br />in writing.
<br />14. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower
<br />shall pay the pretxuums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage
<br />Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such
<br />NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT -MFRS DocM~grC ~ app.sas-~3sz
<br />Form 3p28 1 /OT Page 5 of 1 1 www.dacmegic.com
<br />3(Y18.mxr}.xml
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