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201008447
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Last modified
11/12/2010 3:23:43 PM
Creation date
11/12/2010 3:23:42 PM
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DEEDS
Inst Number
201008447
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201008447 <br />work has been completed ta Lender's satisfaction, provide�i that such i�specticm �hall be irtidertaken <br />promptly. L,�nder may disburse proceeds for the repairs and restoration in a single paym�t or in a series <br />of pragre�s paya�nts as Che work is complete�. U;qless an agreement is made in writing or Applicable Law <br />requires interest to be paid on s�h ins�urance prooeeds, L.ender shall not be required to pay Bornower any <br />inCerest or earnings on auc� proc�eeds. Fees for public �djust�ara, or other third parties, retained by <br />Borrawer ehall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If <br />the restoration or repair is not eoonom,ically feasible or l.ender's security wauid be lessened, the insurance <br />prac:eeds shall be applied to the swns secttred by this Security lnshvm�nt, whether or not then due, with <br />the excess, if any, paid #o Borrower. Such i�nsurance pruceeds shall be applied in the order pravided for in <br />Section 2. <br />If Borrowcr abandons tb,e ProPerty, L,ender may file, negoCiate and settle any available insurance <br />claim and related matters. If Borrawer does not respond within 30 daya to a notice firom L�ender that the <br />insuranc� carrier has offervd ta sett]e a claim, the� L�ender may ncgotiates and settle the claim. The 30-clay <br />period will begin when the notice is given. In either event� or if Lander a�cquines the ProperCy uinder <br />5ection 22 ar otherwise, Barrov�r hereby assigns to Lender (a) Borrower's x�itghts to a� insurance <br />proceeds in an amount nat to ea�ceed the amaunts unpaid u�nd�r the Nota or this Security Instivment, and <br />(b) any ot�r of Borrower's z�ghts (othar than the right to any refund of unearned premiuma paid by <br />Borrower) under all insurance policies covering the Properiy, ian,eofar as such rights are applicable ta the <br />covera�es of thc Froperty. Leande�r may use tl�e insurance proceetls either to tsepair ar restore the Property or <br />to pay atx�ounts u�sid under the Note or this Security Insquq�ent, whethcr or aat then due, <br />6. O�up�ancy. Borrow�r sball occupy, establish. and wse the Propetty as Borrower's prinGipal <br />r�sidence within 60 days after the �xecution af this 5e�uriry InsUnunent and shall continue to accupy the <br />Prn�rty as Bormwer'a principal residence for at least oae ycar after the date of occupancy, unlesa L�ender <br />othetwise agrees in writing, which conaent sball not be unreasonably withheld, or unless extcnuating <br />cu�cuuu�tances exist wluch are beyond Borrower's control. <br />7. Pree�vadap, Mainteaance aad Protection of the Prap�t.y; Iaspectlans. Borrowcr shall not <br />destroy, damaSe or irnpair the Pnoperty, allow the Pmperty to deteric�rate or comnut waste on the <br />Property. Whcther or not Borrower ia residing in the Propsrty, Bormw�r s�all rnaintain the Property in <br />or�er to prevent the Prvperry frnm det�riorating or decreasing in value due W its conditian. Unless it is <br />d�er�niaed pursuant to Saction S that repair or restoration is not economically feasibl�, Barrower shall <br />P��P�Y ��' ��P�Y iF �n�g� ta avoid further detecioratian or datnage. If insuraace or <br />condemnation p�cceds are paid in connection with damage W, or the taldng of� the Property, Borrower <br />shall be responsiblc for repairing or resWring ihe Property only if L,ender has releas�d procee� for such <br />Purposes. I�der may disburse prooeeds for the repairs and restoration in a single paymait or in a series of <br />A�E'� PaY�� as the wurk is completed. Yf the insurance or condemnation proceeds are not suffici�nt <br />W repair or r�tore the Pmperty, Borrower ia not relieved of Borrower's obligatian for the compl�ia�n of <br />sach repair or restoration. <br />I.endcr or its agent may rn�tice reasonable entriea upon and inspections of the Property. If it has <br />reasonable cauae, L�ader may insp0ct the interior of the imprav�ts on the Property. Lender shall give <br />Horrower notice at tbie time of or prior to such an interior inspection specitying surh re�sonable cauae. <br />S. Borrower's Loan ApplicAdon. Bomower shall be in default if, during the Y.oan application <br />Process. Horrower or any persons or entities acting at the direction of Aorrower or wiith Borrower's <br />knowledge or consent gave materially falsc, mislea�iing, or in�ecurate infurmation or statements to Lsnder <br />(or failed W provide �.�ender with m�aterial infortnation) in� �nne�tion with the Loan. Material <br />repre�entations include, but are not lirnited tv, rePre�ntations conc�rning Bnrrower's occupancy of the <br />Pnoperty as Horrower's principal residence. <br />NLBRASKA - Single Femily - Fanrd� Mae/Fr�ddh M�a UNIFORM IIY$TRUIWENT <br />�-EINE) loe�tl vsa.'7w �8 �nmd.: Farm 30Z8 1/01 <br />
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