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20~-007152
<br />All insurance policies required by Lender and renewals of such policies shall, be subject to Lende>'s right W disapprove
<br />such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee a~/or as' an additional lass
<br />payee. Lender shall hoot; the right to hold the policies and renewal certificates. If Lender regtires, Borrower shalt promptly
<br />give to J ender all receipts of paid premitumt and renewal notices. If Borrowwer obtains arty form of insuQartce coverage, rat
<br />otherwise required b3 Lender, fox damage to, or destruction of, the Property, such policy shall include a standard mortgage
<br />clause and shall name Lender as mortgagee andlor as an additional loss payee.
<br />It3 the event of loss, Borrower shall give prompt notice tb the inswartce easier and Lender. Lerr~dex may make proof of lass
<br />if not made promptly by Borrower. Unless Lender and Bosawer otherwise agree in writing, any insurance proceeds, whether
<br />or not the underlying it>stu~anoe was required by Lender, shall be applied to restoration or repair of the Property, if the
<br />3+estoration ax repair is economically feasible and Lender's security is not lessened. During such repair and restnratian period,
<br />Lender shall have the right to hold such inslrranee prc~eeds until Lender h~ had an opportunity to inspect such Property to
<br />ensure fhe work has been enmpleted to Lender's satisfacttan, provided that such inspectoxm shall be undertaken promptly.
<br />Lender may disburse proceeds far the repairs and restoration in a single payment or is a series of progress paymerds as the
<br />work is completed. Unless an agreement is made in writing ar Applicable Law requires interest to be paid nn such insurance
<br />proceeds, Gendar shall not be required in pay Borrower any interest or earnings an such proceeds. Fees for public adjusters,
<br />or ocher third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of
<br />Borrower. If the restoration or repair is not econpmically feasible ar Le3~er's security would be lessened, the insurance
<br />proceeds shall be applied to the sunns secured by this Security Instrument, whether ar not then due, with the exce~, if any,
<br />paid to Borrower. Such insurance proceeds shall be applied in the order provided Far in Section Z,
<br />if Borrower abandons the Property, Lender may fite,negotiate and settle arty available insttxance claimand related wafters.
<br />If Barxow~ does not respond within 30 days m a notice from Lender that the insurance carrier has offered to settle a claim,
<br />then Lender may negotiate and settle the claim The 3t)~ay period will begin when the notice is given. In either event, or d'
<br />Lender acquires t}re Properly under' Section 22 ar otherwise, Borrower hereby assigns to Lender (a) Basowcr's rights to arty
<br />insurance pwcceds in an amount rat to exceed the amnimts unpaid ur~r the Note ar this Security Irutnrment, and (b) any
<br />other of Ho3rowcr's rights (other than the right to arty refund of unearned premiums paid by Borrower) under all insurance
<br />policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the
<br />instrance pa-aceeds either to rrepair or ~nestore the Properly or to pay amounts unpaid under the Note or this Security
<br />lnsiruanent. whett~ar or not them due.
<br />ra Oceapancy. Borrower shall occupy, establish, and use the Property as Borrower's principal resicleatce within 60 days
<br />after the execution of this Security Instrrurrertt arrd ~3a11 continue to occupy tt3e Property as l3arrawer's principat residence for
<br />at least one year after the date of occupancy. unless Lewder otherwise agrees in writing, which consent shall not be
<br />unreasonably withheld, or unless extenuating circurustances exist which are beyond 8osaucras control.
<br />7. Preservation, Maintenance and Protection of the Property; luspedions. Harrower strati not destroy, damage ar impair
<br />the Property, allow the Property W deteriorate ar commit waste an the Property. Whether nr not Borrower is residing in the
<br />Property, Harrower shall maintain the Property in order to preverrt the Property from deteriorating or decreasing in valt~ due to
<br />its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower
<br />shall pro3npdy repaur the Property if damaged to avoid further deterioration air damage. [f insurance or condemnation proceeds
<br />are paid in connection with damage to, or the talcirrg of, the Property, Borrower shall be responsrble for repairing or restoring
<br />the Property only if Lender bas released proceeds far such purposes. Leatdex may disburse proceeds for the repairs and
<br />restoration in a single payment ar in a series of progress payments as the work is completed. if the insurance or condemnation
<br />proceeds are not suffiaent to repair or restore the Property, Borrower is not relieved of Horrowe~s obligation for the
<br />completion of such repair or restoration.
<br />Lender ar its agent may make reasonable entries upon and inspections of the Property. if rt has reasonable cause, Ler~ler
<br />may inspect the interior of the imprvnvetn~tis an the Property. Lender shall gzve Borrower notice at the time of or prior to such
<br />an interior inspection spxifying such reasonable cause.
<br />8. Borrower's Loan Application. Horrower shall be in default if, during the Loan application pl:acess, Borrower ar any
<br />persons ar entities acting at ttre direction of Basnwer or with Borrower's knowledge or consent gave materially false,
<br />misleading, or inaccurate informati~r ar statements to Lender (ar failed to provide Lender with material information) in
<br />connection with the Loan. Material represerriatio3rs include, bnt are rat limited to, representations concerning Bo3xrnver's
<br />occupancy of the Property as Borrower's principal residence.
<br />N~RASKA - Sk~gle Y - FannNi 4Aas(Fraddio Mae UNIFORM IPt57RI11~N"r A ,~
<br />U
<br />~~"~ t~rr) rte. sir a r,r-.~.:
<br />DIXS-Id[s'9
<br />Form SOQa 7101
<br />im~mmmn
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