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�Oi0Q8858
<br />equity in the Property, or the contents of the Property, against any risk, hazard ar liability and might provide greater
<br />or lesser coverage than was previously in effect. Borrower acknowled�es that the cost of the insurance coverage so
<br />obtained might significantly excced thc cost of insurance that Borrower could have obtained. Any amounts
<br />disbursed by Lender under this Section S shall becomc additional debt of Borrower secured by this Security
<br />Instrument, These amaunts shall bear interest at the Note rate from the date of disbursement and shall be payable,
<br />with such interest, upon notice from Lender to Borrower requesting payment.
<br />All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to
<br />disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an
<br />additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires,
<br />Borrower shall promptly give to Lender all receipts nf paid premiums and renewal notices. If Borrower obtains any
<br />form of insurance coveragc, not otherwise required by Lender, f`or damage to, or destruction of, the Property, such
<br />policy shall include a standard mortgage clause and shall name Lender as mort�agee and/or as an additional loss
<br />payee.
<br />In the event of loss, Borrower shall give prampt notice to the insurance carrier and Lender, Lender may
<br />make proof of loss if not made promptly by E3orrower. Unless Lender and Borrower otherwise agree in writing, any
<br />insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration
<br />or repair of the Properry, if the restoration or repair is economically feasible and Lender's security is not lesscncd.
<br />During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender
<br />has had an opportunity to inspect such Property to ensure the wark has been completed to Lender's satisfaction,
<br />provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and
<br />restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is
<br />made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be
<br />requircd to pay Borrower any interest or carnings on such proceeds. Fees for public adjusters, or other third parties,
<br />retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Sorrower. If
<br />the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds
<br />shall be applied to ihe sums secured by this Security lnstrument, whether or not then due, with the excess, if any,
<br />paid to Borrower. 5uch insurance proceeds shall be applied in the order provided for in Section 2.
<br />If I3orrower abandons the Property, Lender may file, negotiate and settle any 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 />offered to settle a claim, thcn Lender may negotiate and settle the claim, The 30 period will begin when the
<br />notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby
<br />assi�ns to Lender (a) f3orrower's rights to any insurance proceeds in an amount not to exceed thc amounts unpaid
<br />under the Note or this Security Instrument, and (b) any other of Borrower's ri�hts (other than the right to any refund
<br />of unearned premiums paid by Borrower) under all insurance palicies covering the Property, insofar as such rights
<br />are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the
<br />Property or to pay amounts unpaid under the Npte or this Security instrument, whether or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal
<br />residence within 60 days after the execution of this Securiry Instrument and shall continue to occupy the Property as
<br />Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in
<br />writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are
<br />beyond Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Property; lnspections. Borrower shall not
<br />destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether
<br />or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property
<br />from deterioratin� or decreasin� in value due to its condition. Unless it is detennined pursuant to Section 5 that
<br />repair or restoration is not economically feasible, Borrower shall pron�ptly repair the Property if dama�ed to avoid
<br />NEBRA5KA-Singlc Family-Fannie Mae/Freddie Mac IINIFORM INSTRiIMENT Form 3028 1/0
<br />6(NE) (081 t) Page 6 of 15
<br />h�itials:
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