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201009198
<br />work has been completed to L.ender's satisfaction, provided that such inspectian shall be undertaken
<br />promptly. T.,ender may disburse proceeds for the repairs and restoration in a single payment or in a series
<br />of progress payments as the wark is completed. Unless an agreement is made in writing or Applicable Law
<br />requires interest to be paid on such insurance proceeds, Lender sha11 not be required to pay Borrower any
<br />interest ar earnings on such proceeds. Fees far public adjusters, or other third parties, retained by
<br />Borrower shall not be paid out of tk►e insurance proceeds and shall be the sole obligatian af Borrower. If
<br />the restoration or repair is not economically feasible or I..ender's security would be lessened, the insurance
<br />proceeds shall be applied to Che sums secured by this Security InstrumenC, whether or not then due, with
<br />the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in
<br />Section 2.
<br />If Borrower abandons the Property, Lender rnay file, negotiate and settle any available insurance
<br />clairn and related matters. If Borrower does not respond within 30 days to a notice from Lender that the
<br />insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day
<br />period will begin when the notice is given. In either event, or if Lender acquires the Property under
<br />Section 22 or otherwise, Barrawer hereby assigns to Lender (a) Borrower's rights ta any insurance
<br />proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrum�nt, and
<br />(b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by
<br />Borrawer) under a11 insurance policies covering the Propercy, insofa�r as such rights are applicable to the
<br />coverage of the Property. L.ender may use the insuxance proceeds either to repair or restore the Property or
<br />to pay amounts unpaid under the Note or this Security Instrument, whether or not then due.
<br />6. Occapancy. Borrower shall occupy, establish, and use the Property as Borrower's principal
<br />residence within 60 days after the execution of this Security Instrument and shall continue to occupy the
<br />Property as Borrower's principal residence for at least one year after the date of occupancy, unless L,�nder
<br />otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating
<br />circurnstances exist which are beyand Borrawer's control.
<br />7. Preservation, Mainteaance and Protection of the Propecty; Inspections. Borrower shall not
<br />destray, damage or impair the Property, allow the Property to deteriorate or commit waste on the
<br />Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in
<br />order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is
<br />determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall
<br />promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or
<br />condemnation proceeds are paid in connection with damage to, or the taking of, the Froperty, Borrower
<br />shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such
<br />purposes. L,Qnder rnay disburse proceeds for the repairs and restoration in a single payment or in a sexies of
<br />progress payments as the work is completed. If the insurance or condemnation proceeds are not suf�cient
<br />to repair or restore the Property, Borrower is not relieved of Borrawer's obligation for the completion of
<br />such repair or restoration.
<br />Lender or its agent may make reasonable entries upon and inspections of the Property, If it has
<br />reasonable cause, I.ender may inspect the interior of the iznproveznents on the Property. L.ender shall give
<br />Borcower notice at the time of or prior to such an interior inspection specifying such reasonable cause.
<br />S. Borrower's Loan Application. Borrower shall be in default if, during the Loan application
<br />pracess, Borrower or any persons ar entities acting at Che direction of Borrawer or with Borrower's
<br />knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender
<br />(or failed to provide Lender with material information) in cannection with the Loan. Material
<br />representations include, but are not limited to, representations cancerning Borrower's occupancy of the
<br />Praperty as Barrawer's principal residence.
<br />NEBRASKA - Single Family - Fannie Mae/Fraddie Mac UNIFORM INSTRUMENT �
<br />�-BINE) loa>>1 Page 7 of 15 i��s�ais: �^"�r` Form 3028 1l01
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