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201048584
<br />provided that such inspection sl�all be undectaken proitiptly. Lender zilay disUurse proceeds for the repairs and
<br />restoration in a single pay�nent or in a series of progress payanents as the work is co�npleted. Unless an agree�i�enc
<br />is made in writing or Applicable Law requires interesl. to be paid on sucli insurance proceeds, Lender shall uot be
<br />required to pay Sorrower ac�y inferest or earnings ou such proceeds. 1� ees for public adjusters, or other third parties,
<br />retained by Borrower shall noC be paid out of the insurance proceeds and shall be the sole obligation of Borrower.
<br />if the restoration or repair is not economically feasiUle or Lender's security would be less�ned, the iiisurance proceeds
<br />shall be applied to the suins secured by this Security Instrurnent, whether or not theu due, with the excess, if any, paid
<br />to Borrower. Such insurance proceeds shall be applied in the order provided for in Sectioii 2.
<br />If F3oarrower abandons the Property, Leuder may fila, uegotiate and settle auy available insurance claim and
<br />related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has
<br />offared to settle a claim, then Lender may negotiate and settle the claim. 1'he 30-d�ty period will begin when the
<br />notice is given. In either eveut, or if Lender acquires the C'ro[�erty tmder Section 22 ot otherwise, Borrower hereby
<br />assigns to Lender (a) Borrower's rights to any insuran.ce proceeds in an amount not to exceed the amounts unpaid
<br />under the Note or this Security Instrument, attd (b) any other of E3orrower's ri�hts (other than the right to auy refund
<br />of unearned premiums paid by Borrower) under all iusurance policies covering the Property, insofar as such ri�hts
<br />are applicable to the coverage of the Property. L�nder may use the insurance proceeds either to repair or restore the
<br />f'roperty or to pay amounts unpaid tmder the Note or this Security instrurnent, whether or not then due.
<br />G. Occupancy. Borrower shall occupy, establish, az�d use the Property as Borrower's principal residence
<br />within 6Q days after the execution of this Security Instrumen.t and shall conti .nue to occupy the .Property as Borrower's
<br />principal residence for at least one year after the date of occupancy, �rnless Lender ofherwise agrees in writing, which
<br />consent shall not be unreasonably wittztzeld, or uzaless exteiivating circuinstan.ces exist which are beyoud Borrower's
<br />control.
<br />7. Preservation, MAintena�ace And Protection of the Prope�•ty; I�aspectious. F3orrower shall not destroy,
<br />damage or irnpair t��e Pro�erty, allow the Property to deteriorake or coiti��ait waste on the Property. Wlaether or uot
<br />Borrower is residing in the Property, Borrower shnll m�intflin the Property ii� order to prevent the Property from
<br />deteriorating or decreasing in value due to its condition. Unless it is deterinined pursuant to Sectian S that repair or
<br />restoration is not econotnically feasible, Borrower shall prornptly re[�air the Property if dainaged to avoicl fiirther
<br />deterioration or dama�;e. If insurance or condenmation proceeds are paid in connection with damage to, or the takin�
<br />of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released
<br />proceeds for suck� purposes. I�ender �nay disburse proceeds for the repairs ar�d restoratiora in a single pay���ent or ix�
<br />a series of progress payments �s the work is co�npleted. if the insurince or condemnation proceeds are not suf�cient
<br />to repair or restore tlie Property, F3orrower is not relieved of'Borrower's obligation for the cornpletion of such repair
<br />or restoratiora.
<br />Lender or its agent znay zx�ake reasotiable e»tcies upor� and i��spectiox�s oPthe P�°o��erty. If it h�s reasonable cause,
<br />I�ender may inspect the interior of.'the i�l�provenaents on the Property, Iaender shall give E3orrower notice at the ti►ne
<br />of or prior to such an interior inspection speci such reasonlble c�use.
<br />8. �orrower's I�oAn Application. Borrower shall be in def�ult if, during the Loan �pplication process,
<br />Borrower or any persons or entities actin� at the direction oFBorrower or with Borrower's luiowl�dge or conseut gave
<br />materially false, inisleading, or ia�accurate informatinn or statements to Lender (or failed to provide Lender wilh
<br />izaaterial inforanation) in cnnnection with the Lpan. Material representations include, but are not liznited to,
<br />representalions concerziing Borrower's occupancy of the Property as Borrower's principal rasidence.
<br />9. Protection ot' I�ender's Interest in thc Property and Ri�l�ts Under this Security I�istrument, if (a)
<br />Borrower fails to �erform the covenants and agreeinents confaiued in this Security Instruinent, (b) t.here is a legal
<br />proceeding that might si�nificantly affect Lender's interest in the Property and/or ri�hts under this Security Instruinerzt
<br />(such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may
<br />attain priority over this Security Instrument or to enforce laws or regul.ations), or (c) E3orrower has abandoned the
<br />Property then Lender may do and pay for whatever is reasonable or a�propriate to protect Letider's ittteresf in the
<br />Property and rights under this Security Instrument, including protectin� and/or assessiiig che value of tl�e Property,
<br />and securing and/or repairing the Property. I,ender's actioxas can inch►de, but are iiot limited to: (a) paying any surns
<br />secured by a lien which has priority over this Security Instrument; (b) appearin� in court; and (c) payirig reasoTaable
<br />attorneys' fees to protect its interest in the Property and/or rights under this Security lnstrument, includii�g its secured
<br />position in a bankruptcy proceeding. Securing the I'roperty includes, but is rnot limited to, entering tha Property to
<br />n�ake repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminale buildiiag or
<br />other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may cake action.
<br />under this Section 9, �ender does not have to do so atid is not under any duty or ablig�tion to do so. lt is agread that
<br />Lender incurs no liability for not taking any ar all actions authorized under this Section 9.
<br />Any amounts disbursed by Lender under this Section 9 shall become �dditiaaial debt of Borrower secured by this
<br />Security Instruinec�t. These amounts shall bear interest at the Note rate from the date of disbursement and shall be
<br />payable, wittl SuC�I intereSt upon notice from Le�ader to Borrower requesting payment.
<br />If this Security Instruinent is on a leasehold, Borrower shall coznply with all the provisions of the lease.
<br />Borrower shall not surrender the leasehold estate and interests hereiu conveyed or terminata or cancel the ground lease.
<br />Borrower sl�all not, withaut the express written consent of Lender, alter or amend the ground lease, if Borrnwer
<br />acquiras fee title to the Praperty, the leasehold and the fee title shall not inerge unless Lender agrees to the n�erger
<br />in writing.
<br />10. Mortgage Insurance. If Lender reyuired Mortgage Insurance as a conditiocz of inaking fhe Loan, Borrower
<br />shall pay the �remiiuns reqnired to anaintain the Mort.gage Insurance in effect. If for any reason, the Mortgage
<br />Insurance coverage required by I,e��der censes to be available froix� the rnortgage insurer that previously provided such
<br />NEBRASKA--Singla Family--Fannie MaelFreddie Mac UNIFORM INSTRUMENT - MERS OpCM2CJICQ�YPIr]S�"; 800-649-1362
<br />Form 3028 1/01 Page 5 of 11 www.docmagiacom
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