201009446 - Laserfiche WebLink

Browse

201009446 work has been completed to Lender's satisfaction, provided that such inspectian shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings an such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid aut of the insurance proceeds and shall be the sole obligation of Eorrower. If the restoration or repair is not economically feasible or I,ender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instxument, whether or not then due, with the excess, if any, paid to Borrower. 5uch insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance clairn and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to Gettle a clairn, then Lender may negatiate and settle tk�e claim. The 30-day pexiod will begin when the notice is given. In either event, or if Lender acquires the Property under Sectipn 22 or otherwise, Borrower hereby assigns to Lender (a) Barrower' s rights ta any insurance proceeds in an amount not to exceed the ar►aounts unpaid under the Note or this 5ecurity instrument, and (b) any other of Barrower' s rights (other than the right to any refund of unearned premiums paid by Sorrower) under a11 insurance policies covering the Property, insofar as such rights are applicable to t1�e coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property ar to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrpwer shall occupy, establish, and use the Froperty as Borrower' s principal residence within 6U days after the execution of this Security Instrument and sha11 cpntinue 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 cansent shall not be unreasonably withheld, or unless extenuating circumstancas exist which are beyond Sorrower's control. 7. Preservation, Maintenance and Protection of the Froperty; Inspections. Sorrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Praperty, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is deternained pursuant to Section S that repair or restoratipn is not economically feasible, Borrower shall promptly repair the Prpperty if damaged to avoid further deterioration or darnage. If insurance or condemnation proceeds are paid in connection with damage ta, ar the taking of, the Property, Borrower shall be responsible for repairing or restoring the Froperty anly if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restare the Property, Borrower is nat ralieved of Borrower's abligation for the coaix�pletion pf such repair qr restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interiar 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 Applicadon. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower ar with Borrower' s knowledge or consent gave mat�rially false, misleading, or inaccurate information or statements to Lender (or t'ailed to provide Lender with rnaterial information) in connection with the Laan. Material representations include, but are not limited to, representations concerning Borrower' s occupancy of the Property as Borrower' s principal residence. 230999 NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT �-6(NE) (oett) Page7 of 15 in�tiais�� Form 3028 1/01 � �