201007796 - Laserfiche WebLink

Browse

20�00��9� work has been completed to I..ender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payrnent or in a series of progress payments as t1�e work is completed. Unless an agreemenc is made in writing or Applicable Law requires interestto be paid on such insurance proceeds, Lender shall not be requircd to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other chird parties, retained by Borrower shall not be paid out of the 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 surns secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may �le, negotiate and settle any available insurance claim and related matters. If Borrower does nat respand within 30 days to a natice from Lender that the insurance carrier has offered to settle a claim, then I.ender rnay negotiate and settle the clairn. The 30-day period will begin when the notice is given. In eith�r event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to �..ender (a) Borrower's rights to any insurancc proceeds in an aznount not to exceed the amounts unpaid under the Note or this Sccurity Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all 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 or to pay amounts unpaid under the Note ar this Security Instrument, whether ar not then due. �. Occupancy. Bonawer shall occupy, establish, and use the Praperty 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 Che date of occupancy, unless L.ender 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; Inspect�ons. Borrower shall n,ot destroy, damage or impair the Property, allow the Property ta deteriorate or commit waste on the Praperty. Whether or not Borrower is residing in the Praperty, Barrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in valne due to its condition. Unless it is determined pursuant to Section 5 that repair or restaration is not economically feasible, Borrower shall promptly repaar the Property if damaged ta avoid further deterioration or damage. If insurance or condemnation proceeds are paid in. connection with damage to, ar the taking af, the Property, Borrower shall be responsible for repairing or restoring the Froperty anly 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 payrnents as the work is completed. If the insurance or condemnation 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 restaration. I.ender or its agent may make reasonable entries upan and inspections af the Property. If it has reasonable cause, Lender may inspect the interior of the impravements on the Property. Lender shall give Borrower notice at the time of or priar to such an interiar inspectian specifying such reasonable cause. 8. Bo� Lpan Application. Borrower shall be in default if, during the Loan application process, Borrower ar any persons or entities acting at the direction af Borrower ar with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide I.ender with material information) in connectian with the Loan. Material representatio:ns include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. �� NEBRASKA - Single Family - Fannie MaelFreddie Mac UNIFORM INSTRUMEN7 � �-6(NE) loet t� Pege 7 of 16 iniciais: Form 802$ 1l07 a � f �� } �. ,� i' S . !