201009143 - Laserfiche WebLink

Browse

201009143 wark has been completed to T,ender's satisfaction, provided that suGh inspection shall be undertaken promptly. Lender may disburse proceeds fc�r ih� rcpairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agcsernent is raade in writing or Applicable I.aw requires interest to be paid on such insuranc:� pracesds, I..ender shall not be required to pay Borrower any interest or earnings on such �rocecds. Fees far public; adjnsters, or other third parties, retained by Sorrower shall not be paid aut of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is npt ec�nomically feasible or Lender's security would be lessened, the insurance proceeds shall be applied ta the sums secured by this 5ecurity Instrument, whether or not then due, with th� c:xc�ss, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in S�ction 2. If Borrower abandons the Property, Lender may file, negotiate and s�tt1C any availabl� insurancc claim and related matters. Tf Borrower does not respond within 30 days to a nUtice fram I,r;ndc:r that thc insurance carrier has ot'fered [c� settl� a claim, then Lend�r may n�gatiate and settle the claim. The 3Q-day period will begin wh�n lhc: nolic� is given. In eith�r �v�nt, or if I.ender acquires the Property under Section 22 or oth�rwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any ather af Barrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights ar� applicahle 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 Tnstrument, whether or not then due. 6. OGCM�p�IIC�' Borrower shall occupy, establish, and use the Yroperty as Borrower's principal residence within 60 days after the execution of this Security Tnstrument and shall continue to occupy the Property 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 circumstances exist which arc beyond Borrower's control. 7. Preservation, Ms�intenanc� and ProtectiUn of the Property; Inspeetiot�s. Barrow�r shall not destroy, damage or impair the Property, allow ths Property to deteriorate ar commit waste on the Property. Whether or nal Borraw�r is r�siding in lhe Property, Barrowcr shall maintain the Property in order to prevent the Property from detcri�rating or decreasing in value due to its condition. Uriless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, T3orrower shall be responsible for repairing or restoring the Property only if T.ender has released proceeds for such purposes. I.ender may disburs� proceeds for tkie repairs and restoration in a single payment or in a series of progr�ss payments as the work is eompleted, If the insuranc;e ar candcm�anatian prUCCCds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrawer's obligation for the cornplelion af such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, L.ender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. S, Borrower's Loan Application. �orrower shall be in default if, during the L.oan application process, �3orrower or any persons or entities acting at the directian of Borrower or with Borrawer's knowledge or consent gave materially false, misleading, or inaccurate information or state;ments ta I.cnder (ar fail�d to provia� I.,�nd�r with material information) in connection with the Loan. Material representatic�ns includ�, bul arc n�t limited to, representations concerning Borrower's occupancy of th� Praperty as Barrowcr's principal r�sid�ncc. NEBRASKA - 5ingle Family - Fannie Mae/�reddie Mac UNIFORM INSTRUMENT �-6(NE► loai 71 Papa � or i s miciais: � Form 3Q28 1I01