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�olou�s2� <br />work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken <br />promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series <br />of progress payments as the work is completed. Unless an agreement is xnade in writing or Applicable Law <br />requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any <br />interest or earnings on such prqceeds. Fees for public adjust�rs, or other third parties, retained by <br />Borrower shall not be paid out of the insurance proceeds and sha11 be the sole obligation of Borrower. If <br />the restoration or repaix is not economically feasible or Lender's security would be lessened, the insurance <br />proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with <br />the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in tha order pravided for in <br />Section 2. <br />If Borrvwer abandons the Property, Lender may file, negotiate and settle any available insurance <br />claim and related matters. If Barrower does not respond witbin 30 days to a notice from Lender that the <br />insurance carrier has offerEd to settle a claim, then Lender may negotiate and settle the claim. The 30-day <br />period v✓ill begin when the notice is given. Tn either event, or if Lender acquires the Property under <br />Section 22 ar otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance <br />proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrurnent, and <br />(b) any other of Borrower' s rights (other than the right to any refund of unearned premiums paid by <br />Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the <br />coverage of the Property. Lender may use the insurance proceeds either to repair or xestore the Property or <br />to pay amounts unpaid under fhe Note or this Security Instrument, whether or not then due. <br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower' s principal <br />residencc within 60 days after the execution of this Security Instrument and shall continue to occupy the <br />Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender <br />atherwise agrees in writing, which consent sha11 not be unreasonably withheld, or unless extenuating <br />circumstances exist which are beyond Borrower's control. <br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrawer shall not <br />destroy, damage or impair the Property, allow the Froperty to detcriorate or cammit waste on the <br />Property. Whether or not Borrower is residing in the Property, Borxower shall maintain the Praperty in <br />order to prevexat the Property from cieteriorating or decreasing in value due to its candition. Unless it is <br />deter�xiined pursuatit to Section S that repair or restoration is not economically feasible, Borrower shall <br />promptly repair the Property if damaged to avoid further deterioratian or damage. If insurance or <br />condemnation praceeds are paid in connection with damage to, or the taking of, the Property, Borrower <br />shall be responsible for repaaring or restorin� the Property only if Lender has released proceeds for such <br />purposcs. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of <br />progress payrnents as the work is completed. If the insuraaxce or condemnation procee�ls are not sufficient <br />to repair ar restore the Froperty, Borrower is not relicved of Borrower's obligatian for the completion of <br />such repair or restoration. <br />Lender ox its agent may malce reasonable entries upon and inspections of the Praperty. If it has <br />reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give <br />Borrawer notice at the time of or prior to such an interior inspection specifying such reasonable cause. <br />8. Borrower's Lnan Application. Borrower shall be in default if, during the �,oan application <br />process, Borrower ar any persons or entities acting at the direction of Borrower or with Borrower's <br />knowledge or consent gave materially false, misleading, or inaccurate information ar statements to Lender <br />(or failed to provide L.ender with material infarmation) in cannection with the Loan. Material <br />representations include, but are not lirnited to, representations concerning Borrower's occupancy of the <br />Prpperty as Barrowcr's principal residence. <br />$800885775 8800885775 <br />NEBRASKA - 5ingle Family - Fannie MaelFreddle Mac UNIFORM INSTRUM�NT WITH ME <br />�-6A�NH)�oeio� Page7af15 i�;�;ei�: Form3028 1/07 <br />� �� <br />