201008723 - Laserfiche WebLink

Browse

201008723 work has been completed to Lender's satisfaction, provided that Guch inspection shall bc undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payrnant or in a series of progresG payments as the work is completed. Unless an agreement is madc in writing or Applicable Law requires interest to be paid an such insuxance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such ptocecdG. �ees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligatian of Borrower. If the restoration or repair is not economically feasible or Lender's security wauld be lessened, the insurance ptoceeds sha11 he applied to the Gums secured by this Security Instnunent, 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. Tf Borrawer abandans 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 from Lender that the insurance carrier has offered ta settle a claim, then Lender may negotiata and settle the claim. 'lhe 30-day period will begin when the notice is given. In either event, or if Lender acyuires the Property under Section 22 or otherwise, Botrower hereby assigns to Lendet (a) Burrower's rights to any insurance proceeds in an arnount not to exceed the amounts unpaid under the Nate or this Security Instrument, and (b) any olher of Borrower's rights (other than the xight to any refund of unearned premiums paid by Borrower) under all insurance policies coVering the Property, insofar as such tights ate applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restnre the Property or to pay amaunts unpaid under the Note or this Security Tnstnunent, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 ciays aftet the execution of this Secutity Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender othcrwise agrees in writing, which cansent shall not be unreasonably withheld, or unless cxtenuating circumstances exist which are beyond Borrower's control. 7. Prescrvation, Maintenance and Protection of the Property; Inspectians. Borrower shall not destray, dalnage or impair the Property, allow thc Property to detetiorale ot cornmit r�vatite on the Property. Whether or not Borrowcr is residing in the Property, Borrower shall maintain the Property in ordar to prevent the Ptoperty from deteriorating or decreasing in value due to its condition. Unless it i5 determined pnrsuant to Section 5 that repair or restoration is not econarnically feasible, Borrower shall promptly repair the Property if daxnaged to avoid futther deterioration or damage. If insurance or condemnation proceeds are paid in conncction 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. Lender may disburse ptoceeds for the repairs and restoration in a single payment or ita a series of progress payments as the work is cornpleted. If the insurance or condemnation proceedG are not suft"icient to repair or restore the Propetty, Borrowcr is not relieved of Borrower's obligation for the completion of such repair or resioration. Lander ar its agent may inake reasonahle entries upon and inspections af the Property. If it has reasonable cause, Lendet rnay inspect the interior of the improvements on the Ptoperiy. Lender shall give Borrower notice at the tirne of or prior to such an interior inspection speciFying such reasonable causE. 8. Sorrower's Loan Application. Boz�rower shall be in deFault iP, during the Laan application proceGS, Borrawer or any persons or antities acting at the direction of Sorrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material in£ormation) in connection with the Laan. Material representations include, but are not lirnited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. NEBRASKA- 5ingle Family - Fannle MaelFreddie Mac UNIFORM INSTRUM�NT � �-6(NE) (os� �) Page 7 of 15 Initials Form 3U28 1/01 �