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201004515 detetntinaiion or certification. Borrower shall also be responsible for the payment of any fees imposed by the N'ederal L'mergency Management Agency in connection with the review ofany flood zone determination resulting from an objeclioit by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at mender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Burrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might sipttificatttly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed b Lender underthis Section 5 shall become additional debt of Borrower secured by this Security lnstrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice frvm Lender to Borrower requesting payment. All insurance policies reyuircd by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee aitd/or as an additional loss payee. f ,ender shat l have the right to hold the pvlicics and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insur~mce coverage, not otherwise required by Lender, for damage to, or destruction of, lire Property, such policy shall include a. standard mortgage clause and shall Warne I..ender as mortgagee and/vr as an additional loss payee. In the event of loss, Borrower shall give prom t notice to the insurance carrier and Lender. Lender may make proof of loss ifnot made promptly by Borrower. Unless Lcndcr and Burrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair ofthe Property, if the restoration or repair is economically feasible and Lender's security is not lessened..[7uring such repair aitd restoration period, mender shall have the right to hold such insurance proceeds until Lender has had an vpportumty to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration m a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Dees for public adjusters, or other third parties, retained by Borrower shall not be paid out vfthe insurance proceeds 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 insurance proceeds shall be applied to the sums secured by this Sccurit~ Instrument, whether yr not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied m the order provided fur in Section 2. If l3orrowcr abandons the Properly, bender may file, negotiate and settle any available insurance claim and related matters. If Borrower dues nut respond within 30 days to a notice from Lender that the insurance carcier has offered to settle a claim, then Fender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, yr if Lender acquires the Property under Section 22 or otherwise, Burrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund ofunearned premiums paid by Bvrrvwer) under all insurance pvlicics covering the Property, insofar as such rights are applicahle to the coverage ofthe Property. Lender may use the insurance proceeds either to repair or restore the Property yr to pay amounts unpaid under the Note or this Security Instrument, whether yr not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall nut destroy, damage or impair the Property, allow the Property to deteriorate or commit waste vn the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order tv prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is deterrtitned pursuant to Section 5 that repair or restoration is not economically feasible, Bvrrvwer shall promptly repair the Property if damaged tv avoid further deterioration or damage. if insurance or condemnation proceeds are paid in connection with damage to, or the taking of the Property, Borrower shall be responsible fur repairing or restoring the Property only if Lender has released proceeds fur such purposes. Lender may disburse proceeds fur the repairs and restoration m a single payment or in a series of progress payments as the work is completed. If the insurance ar condemnation proceeds are not sufficient to repair or restore the Property, Bvrrvwer is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its a~cnt may make reasonahle entries upon and inspections of the Properly. f f it has reasonable cause, Lender may inspect the interior of the im rovements on the Properly. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. $. Borrower's Loan Application. Bvrrvwer shall be in default if; during the Loan application process, Borrower or any .persons or entities acting at the direction of Burrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate infoimation or statements to Lender (vr failed tv provide Lender with material information) in connection with the Loan. Material representations include, but are nut limited tv, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest iu the Property and Rights Under this Security Instrument. If (a) Burrower. fails to perform the covenants and agreements contained in this Security Instrument, ~b) there is a legal proceeding that might significantly affect Lender's interest in the Property attd/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security lnstrument or to enforce laws or regulations), or (c) Bvrrvwer has abandoned the Properly, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security lnstrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Property and/or rights under this Security lnstrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations yr dangerous conditions, and have utilities turned on or off. Although f.,en er may 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 that Lender incurs no liability for not taking any or all actions authorised under this Section 9. Any amounts disbursed by Lender under this Scctivn 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate frvm the date ofdisbursement and shall he payable, with such interest, upon notice from Lender to Borrower requesting payinent. ifthis Security lnstrument is on a leasehold, Bvrrvwer shall comply with all the provisions ofthe lease. IfBvrrower acquires fee title to the Property, the leasehold and the fee title shall nut merge unless Lender agrees tv the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage htsurance as a condition of making the Loan, Borrower shall pay the premiums requited to maintain the Mortgage Insurance in effect. lf, for any reason, the Mortgage Insurance. coverage required by Lender ceases to be available frvm the mortgage insurer that previously provided such NEBRASKA-Single Namily-Fannie Mae/Freddie Mee IiNIFORM INSTRUMENT (MFRS) Form 3028 1/Ol (page 4 of 8 pages) 12439.CV (i t/o7) 6898885040 Creative Thinking, Inc. (i0'I'o(0027.562b)