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201007143 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 in 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 an such proceeds. bees for public adjusters, nr other third parties, retained by Borrower shall not be paid nut of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration nr repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or oat then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided far in Section 2. If Borrower abandons the Property, Lender may Elie, negotiate and settle any available insurance claim and related matters- If Harrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. 'The 30~ay period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note ar this Security Instrument, and (b) any other of $orrower's rights (ether than the right to any refund of unearned premiums paid by Borrower) under al! insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property ar to pay amounts unpaid under the Nate or this Security Instrument, whether or 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 far 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 central. 1. Preservation, Maintenance and Protection of the Property; inspections. Borrower shall oat destroy, damage nr impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition- Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage ta, or the taking of, the Property, Borrower shall be responsible for repairing ar restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is aampleted. If the insurance or condernnatinn proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the 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 nr prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower ar any persons or entities acting at the direction of Borrower nr with Borrower's knowledge or consent gave materially false, misleading, ar inaccurate information or statements to Lender (or failed to provide Lander with material information) in connection with the Loan. Material representations include, but are not limited ta, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. NEBRASKA- Single Family - Fannie Mas/Freddla Mao UNIFORM INSTRUMENT ~$1NE1 ipg»~ Page 7 of 15 initials: 1JKr Form 3026 1101 ~~