201008412 - Laserfiche WebLink

Browse

2oioo�4iti work has been carnpleted to Lender' s satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writin� or Applicable Law requires interest to be paid on such insurance proceeds, Lender sha11 not be required to pay Borrower any interest or earnings on such proceeds. Pees for public adjusters, ar other third parties, retained by Borrower shall not be paid aut of the insurance proceeds and shall be the sole obligation of Borrower. If the re5toration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums 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. lf Borrower abandons the Property, Lender may f�le, negotiate and settle any available insurance claim and related matters. If Sorrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acc�uires the Froperty under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower' s rights to any insurance proceeds in an amount not to exceed the arnounts 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, insofar as such rights are applicable to the cpverage of the Property. L�nder may use the insurance proceeds either to repair or restore the Property or tn pay amounts unpaid under the Note or this Security Instxument, whethar or not then due. b. Occupancy. Borrower sha11 occupy, establish, and use the Property as Sorrower' S principal residence within 60 days after the axecution of this Security Instrument and shall continue to occupy the Property as Borrawer' s principa] residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which cansent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Barrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage oz impair the Property, allow the Property to deteriorate or cornmit waste on the Property. Whether or not Borrower is residin� in the Property, Barrower shal] nnaintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restpration is not economically feasible, Borrower shall pramptly repair the Praperty if damaged to avoid further deterioration or damage. If insurance or condeznnation proceeds are paid in connection with darnage to, or the taking of, the Property, Borrower shall be rasponsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse praceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. If the insurance or condemnatian proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completipn pf such repair or restoration. Lender or its agent may make reasanable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower ar with Borrower' s lrnowledge or consent gave materially false, znisleadin�, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower' s occupancy of the Property as Borrower' s principal residence. 230958 NEBRASKA - Single Family - Fannie MaelFreddie Mac UNIFORM INSTRUMENT � �-B�NE) (0811) Page 7 0( 15 initiais:� Form 3028 1107 �