201008519 - Laserfiche WebLink

Browse

201008519 work has been completed to I.ender's satisfaction, pravided 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. Utiless an agreeznent is made in writing or Applicable L,aw requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrawer shall not be paid out of the insurance proceeds and shall be the sole obligatioan of �orrower. If the restoration 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 lnstrument, whether or not then due, wich the excess, if any, paid to Borrower. Such insurance proceeds shall b� applied in the order provide� for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice fram Lender that the insurance carrier has offered to settle a claim, then Lender rnay negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an arnount not to excced the amounts unpaid under the Note or this Security Instrurnent, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiurns paid by $orrower) 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 or this Security Instnunent, whether or not then due. G. Occupancy. Borrower shall occupy, establish, and use the �'roperty as Borrower's principal residence within 60 days after the execution of this Security Instru►txent and shall r.ontinue to occupy the Property as Boz�rower's principal residence for at least ane year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or wnless extenuating circurnstances exist which are beyond Barrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or irnpair the Property, allaw the Property ta deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Propeny, Barrower shall maintain the Property in order to prevent the Property frorn deteriorating or decreasing in value due to its c�ndition. Unless it is deternuned pursuant to Section S that repair or restoration is not econoznically feasible, Borrower sha11 pramptly repair the Property if darnaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in cannection with damage tn, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. I,ender may disburse proceeds for the repairs and restoration in a single payrnent or in a series of progress payrnents as the work is completed. If the insurance ar condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Bonower's obligation for the cornpletion of such repair or restoration. Lender or its agent miay make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Properiy. 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 pracess, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's lmowledge or cansent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with tnaterial infot�nation) in connecCion with the Loan. Material representations include, but are not limited to, representations concerning Borrower's oceupancy af the Property as Barrower's principal residence. NEBRASKA - Single Family - Fannie MaelFreddie Mac UNIFQRM INSTRUMENT �-B�NE) lostt) Page7of 15 i��uais: Form 3028 1/01 � X`"'V t ', , j'� A� d' ;: r �i