24100751�
<br />are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the
<br />Property nr to pay amounts unpaid under the Note or this Security Instrument, whether nr not then due.
<br />6. Occupancy. Borrower sha11 occupy, establish, and use tbe Property as Borrower's principal residence
<br />within 60 days after the execution of this Security Instrument and shall continue to accupy the Property as Borrower's
<br />principal residence for at least one year after th� date of occupancy, unless Lender otherwise agrees in writing, which
<br />consent shall not be unreasnnably withheld, or unless extennating circumstances exist which are beyond Borrower's
<br />control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrowez' shall not destroy,
<br />damage or unpair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not
<br />$orrow�r is residing in the Property, Borrower shall maintain the ProperCy 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 or
<br />restoration is nat economically feasible, $orrower shall promptly repair the Property if damaged to avoid further
<br />deterioration or damage. If insuraance or cnndeznnation proceeds are paid in connection with damage to, or the talciz►g
<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 or in
<br />a series oF progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient
<br />to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair
<br />or restoration.
<br />Lender or its agent rnay make reasonable entries upon and inspections of the Property. If it has reasonable cause,
<br />Lender znay inspect the interior of the iix�provements on the Property. Lender shall give Borrower notice at th� time
<br />of or prior to such an interior inspection specifying such reasonable cause.
<br />S. 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 af Borrower or with Borrower's knawledge or consent gave
<br />materially false, misleading, or inaccurate inforrnation 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 Borrower's occupancy of the Property as Borrower's principal residence.
<br />9. Protection of Lender's Interest in the Property and Rights Undec this Security Ynstrument. lf (a)
<br />Borrower fails to perform the covenants and agreements contained in this Security lnstruznent, (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, for condemnation or forfeiture, for enforcement of a lien which may
<br />attain prioxity over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the
<br />Property, then Lender znay do and pay for whatever is reasonable or appropriate to protect Lender's interest in the
<br />Prop�rty and rights under this Security Instrument, including protecting and/or assessing the value of the Property,
<br />and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums
<br />secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable
<br />atCorneys' fees to protect its interest in the Property and/or rights under this Security lnstrument, including its secured
<br />position in a bankruptcy proceeding. Securing the Properry includes, but is not lirnited to, entering the Property to
<br />make repairs, change locks, replace or 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 for not taking any or all actions authorized under this Section 9.
<br />Any amounts disbursed by I.ender under this Section 9 shall become additional debt of Sorrawer secured by this
<br />S�curity Tnstrument. 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 Borrower requesting payment.
<br />If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease.
<br />Borrower shall not surrender the leasehold estate and ittferests herein conveyed ar terminate or cancel the ground lease.
<br />Borrower shall not, without the express written consent of Lender, alter or atnend 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 />10. Mortgage Insurance. If Lender required Mortgage Insurazxce as a condition of making the Loan, Borrower
<br />shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage
<br />Insurance coverage required by L.ender ceases to be available from the mortgage insurer that previously provided such
<br />insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage
<br />Insurance, Borrower shall pay the pretniums required to obtain coverage substantially equivalent to ttxe Mortgage
<br />Insurance previously in effect, at a cost substantially equivalent to the cost to $orrower of the Mortgage Insurance
<br />previously in effect, frorn an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage
<br />Insurance coverage is not available, Borrower shall continue to pay to Lender the arr�ount of the separately designated
<br />payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these
<br />payments as a non-refundable loss reserve in lieu of Mortgage insurance. 5uch loss reserve shall be non-refundable,
<br />notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Barrower any
<br />interest or earnings on such loss reserve. Lender can no longer require loss reserve payrnents if Mortgage Insurance
<br />coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again
<br />becomes available, is obtained, and Lender z'equires separately designated payments toward tlae premiums for
<br />Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was
<br />required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay
<br />tlae premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable lass reserve, until
<br />Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and
<br />NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM IN51"RUMENT DocMaylc � soo-s4s-r3sz
<br />Form 3�28 1/01 Page 6 of 11 www.docmagic.com
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<br />Ne3028.dat.xml
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