201007950 - Laserfiche WebLink

Browse

�oioo7s5o work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for thc repairs and restoration in a single payrnent or in a series of progress payments as the wark is completed. Unlcss an agrcement is made in writing ar Applicable Law requires interest tp be paid an such insurance proceeds, I.cnder shall not be required to pay Borrower any interest or earnings on such praceeds. Fees far public adjusters, ar other third parties, retained by Borrower sha11 not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. Tf the restoration or repair is not economically feasible or Lender's security would be lessened, tb.e insurance proceeds shall be applied to the sums secured by this Security Instrurnent, 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. Tf Bonower abandons the Property, I.ender may file, negotiate and settle any available insurance claim and related matters. If $orrower dpcs npt respond within 3p days to a notice fram Lend�r that the insurance carrier has offered ta settle a claim, then Lender may negotiate and settle the claim. Thc 3p-day periad will begin when the notiCe is given. In eitheT event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to I,ender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security 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, insafar as such rights are applicable to the coverage of the Properiy. I,ender may use the insurance proceeds either to repair or restore the Praperiy or to pay arnounts unpaid under the Note 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 tl�is Security Instrument and shall continue to occupy che Property as Borrower's principal residence for at least one yeaz after the date of occupancy, unless I.ender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circurnstances exist which aze beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, darnage or irnpair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Barrower is residing in the Property, Borrower shall rnaintain the Property in order to prevent the Property from deteriorating or decreasing in va,lue due ta its candition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Banawer shall promptly repair the Property if damaged to avoid further deCerioraCion or damage. If insurance or condernnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purpases. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of prvgress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Bonower is nat relieved of Borrower's obligation for the cornpletion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the PlppErCY If it has reasonable cause, Lender may inspect the interior of the irnprovernents on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable caus�. 8. Sorrower's Loan Application. Boarrower shaJl be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Bonawer or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate informatian ar statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not liznited to, representations concerning Barrower's occupancy of the Property as Borrower's principal residence. NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFQRM INSTRUMENT �-6(NE) 1oe t t 1 paae � of i 5 initiais: �� Form 3028 1/01 � � ;�l� � l��4� r!'''!