201008664 - Laserfiche WebLink

Browse

241008664 work has bccn complctcd to Lcndcr's satisfaction, provided that such inspa:tion shall bc und�-rtak�,�n promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series ot progr�s;; payments as the work is completed. Unless an agreement is madc in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall nnt be recjuired to pay Borrower any inte,�resl or �rnin�;s un such proceecl5_ Fees for puhlic adjusters, or other third parties, retained by Borrower shall nat be paid out of the insurance procceds and shall be the sole obligation of Sorrc�wer_ I£ the restoration or repair is not economically feasible ot Lender's secutity would be lessened, the insurance praceeds shall be applied to the sums secured by this Security Instrument, whethcr or not then due, with thc exccss, if any, paid to Sorrowcr. Such insurance proceeds shall be applied in the ordct provided for in Section 2. If Borrower abandons the Property, Lender rnuy file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a clairn, ihen Lender may negc�tiate and aellle the claim. The :i0-day period will begin when the notice is given. In either event, or if Lender acquires the Prop��rty undet Section 22 ot othetwise, Borrower hereby assibms tn Lendet (a) Borrower's tights to any insurance proceeds in an amount not to exceed the azn�unt5 unpaid under the Note or this Security Instrument, and (b) any othe.-r of Borrower's rights (other than thc right to any rcfund of unc�rned pr�Kniums paid by Botrowet) under all insurancc policies covering the Ptoperiy, insofar as such rights are applicablc to the coverage of the Property. Lender may use the insurance prc�ceeds either ta repait �r rest�re the Ptoperty or to pay amounts unpaid under the Note or this Se�urity Instrument, whether or not then due. 6. nceupancy. Borrower shall occupy, eslablitih, and use the Property a�; Borrower'S principa] residence within GO days aftet the execution of this Security Instrutnent and shall continue to occupy the Propetty as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circurnstances exist which are beyond Sorrower's conttol. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriarate �r cornmit waste on the Property. Whether or not Borrower is residin� in the Property, Borrower shall maintain the Property in nrder lo Prevent the Properly frum deleriorating c�r decreaning in value due to il�t condiLi<�n. [Jnlewn il iti determined pursus�nl to Section 5 that repair or restorati�n is not e�onomically feasible, Borrower shall ptomptly repair the Property if damaged to avoid further deterioration or da�nage. If insurance nr condemnation proceeds are paid in connection with damage t�, pr the taking nf, the Propetty, Borrower shall be respansible for repairing or restoring the Propeirty only if Lender has released proceeds for such putposes. Lendcr may disbursc proccecls for the repairs and restoration in a singlc payment or in a 5r:�rics nf ptagress payments as the work is completed. Tf the insurance or condemnation proceeds are not su#�icient to repair or restore the Property, Bonower is not relieved of Borr�wer's obligation for the completion of such repair or restoration. Lendet or its agent may make reasonable entties upon and inspections of t�ie Property. If it hati reasonable cause, Lender may inspect the interior of the improvenrxents on the Propetty. Lender shall give Borrowet notice at the time of or prior tn such an intetior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Bonower shall be in default if, during the Loan application pracess, Bonower or any persons �r �.-ntities acting at thc dircction of Borrowcr or with Sortpwct's knowledge or consent gave materially false, misle�ading, or inaccurate information or statements to Lender (or failed to provide Lender with materiul information) in connection with the Loan. Materigl ru�resenlations include, but are nol limited to, representations cuncerning Bc�rruwer'ti occupancy of lhe Property as Bortower's principal residence. 3461498 3461448 NEBR4SKA - Single Family - Fannl� Mae/Freddie Mac UNIFORM INSTRUMENt WI� �$A(NE)(D61o) Pege7of15 �nitia�s: Fom113028 1I01 ao3oo5 5aeia9a