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2Q1009589
<br />provided that such inspection shal] be undertaken promptly. I,ender may disburse proceeds for the repairs and
<br />restoratipn in a single payment or in a series of progress payments as the work is completed. Unless an agreernent
<br />is made in writing or Applicable Law requires interest to be paid an such insurance proce�ds, Lender shall not be
<br />required to pay Borrower any interest or earnings 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 Borrower.
<br />If the restoration or repair is not economically feasible or Lender's security vvould be lessened, the insurance proceeds
<br />shall be applied to the surns secured by this Security Instrument, whether or not then due, with the excess, if any, paid
<br />to Borrowex. Such insurance proceeds shall be applied in the arder provided for in Section 2.
<br />If Bonower abandons the Property, Lender may �le, negotiate and settle any available insurance claim and
<br />related matters. If Barrower does not respond within 30 days to a notice from Lender that the insurance carrier has
<br />offered to settle a clairn, then Lender may negotiate and settle the claim. The 30-day period will begin when the
<br />notice is given. In either event, or if Lender acquir�s the Property under Section 22 ox otherwise, Borrower hereby
<br />assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid
<br />under the Note or this Security Tnstrument, and (b) any other of Borrower's rights (other than the right to any refund
<br />of unearned prerniums paid by Borrower) under all insurance policies covering the Froperty, insofar as such rights
<br />are applicable to the coverage of the Property. L,�nder may use the insurance proceeds either to repair ar restore the
<br />Property or to pay amounts unpaid under the Note or this Security Instrurnent, whether or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence
<br />within 60 days after the execution af this Security Instrument and shall continue to occupy the Property as Borrower's
<br />principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which
<br />consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's
<br />control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy,
<br />damage or impair the Property, allow the Property to deteriorate or commit waste on the Praperty. Whether or not
<br />Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from
<br />deteriorating or decreasing in value due to its condition. Unless it is deternuned pursuant to Section S that repair or
<br />restoration is not ecanornically feasible, Borrower shall prornptly repair the Property if damaged to avoid further
<br />deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking
<br />of, the Property, Borrawer shall be responsible for repairing or restoring the Property only if Lender has released
<br />proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in
<br />a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient
<br />to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion oF such repair
<br />or restoration.
<br />Lender or its agent may make reasonable entries upon and inspections of the Property. Tf it has reasonable cause,
<br />Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time
<br />of or prior to such an interior inspection specifying such reasonable cause.
<br />8. Borrower's Loan Applicatian. Borrower shall be in default if, during the Loan applicatian process,
<br />Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave
<br />materially false, rnisleading, or inaccurate information or statements to L,ender (nr failed to provide Lender with
<br />material information) in connection with the Loan. Material representations include, but are not limited to,
<br />representations concerning Borrower's occupancy of the Prpperty as Borrower's principal residence.
<br />9. Protectfon oP Lender's Interest in the Property and Rights Under this Security Instrurnent. If (a)
<br />Borrower fails to perform the covenants and agreements contained in this Security InsCrument, (b) there is a legal
<br />proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument
<br />(such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may
<br />attain priority over this Security Instrurnent or to enforce laws or regulations), or (c) Borrower has abandoned the
<br />Property, then Lender rnay do and pay for whatever is reasonable or appropriate to protect Lender's interest in the
<br />Property and rights under this Security Instrurnent, including protecting and/or assessing the value of the Property,
<br />and securing and/or repairing the 1'roperty. Lender's actions can include, but are not limited to: (a) paying any sums
<br />secured by a lien which has priority over this Security Instrument; (b) appeazing in court; and (c) paying reasonable
<br />attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured
<br />position in a bankruptcy praceeding. Securing the Property includes, but is not lirnited to, entering the Property to
<br />make repairs, change locks, replace or board up doars and windows, drain water from pipes, eliminate building or
<br />other code violations or dangerous conditions, and have utilities turne� on or off. Although Lender may take action
<br />under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that
<br />Lender incurs no liability for not taking any or all actions authorized under this Sectian 9.
<br />Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this
<br />Security Instrurnent. These announts shall bear interest at the Note rate from the date of disbursement and shall be
<br />payable, with such interest, upon natice from Lender to Borrower requesting payrnent.
<br />If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease.
<br />Barrower shall not surrender the leasehold estate and interests herein conveyed or ternunate ar cancel the ground lease.
<br />Borrower shall not, without the express written consent of I.,ender, alter or amend the ground lease. If Borrower
<br />acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the rnerger
<br />in writing.
<br />10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower
<br />shall pay the premiums required to maintain the Mortgage Insurance in effect. Tf, for any reason, the Martgage
<br />Insurance coverage required by Lender ceases to be available frorn the mortgage insurer that previously provided such
<br />NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT - MERS DocMagic �i aoo-sas->s6s
<br />Form 3028 7/01 Page 5 of 11 www.docrosgic.cam
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<br />Ne3028.med.xml
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