201009647 - Laserfiche WebLink

Browse

2oioo9�4; work has be.�n completed to Lender's satisfaction, provided that such inspection shall be uz�dertaken promptly. I..ender may disburse proceeds for the repairs and restoration in a single payrnent or in a series of progress payrt�ents 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 sha11 not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation af Borrower. If the restoration or repair is not econornically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Barrower abandons the Property, L.ender may file, negotiate and settle any available insurance claim and related rnatters. Jf Borrower does not respond within 30 days to a notice from Lender that the insurancE carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acyuires the Property under Section 22 or otherwise, Borrower hereby assigns to L,ender (a) Borrower's rights ta any insura�ce proceeds in an amount not to exceed the amounts unpaid under the Note or this Se�urity lnstnunent, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiwnns paid by $orrower) under a11 insurance policies cavering the Property, insofar as such rights are applicable 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 Instrurnent, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and sha11 continue to accupy the Property as Borrower's principal residence for at least one year after the date af occupancy, unless I,ender otherwise agre�s in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower 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 Property, Borrower shall maintain the Pmperty in order to prevent the 1'roperty from deteriorating or decreasing in value due to its condition. Unless it is detet�tiined pursuant to Section 5 that repair or restoration is not economically feasible, BonowEr 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, �or,rower shall be respansible for repairing or restaring the Property only if Lender has released procceds for such purposes. Lender may disburse proceeds for the repairs and restoration zn a single payment or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds ax'e not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligaticm for the completion of such repair or restoration. Lender or its agent may make reasonable entxies upon and inspections of the Prope�ty. If it has reasonable cause, L.ender may inspect the interior of the improvernents on the Property. Lender sha11 g�ve 13orrawer notice at the tune of or prior to such an interior inspection spe�ifying such reasonable cause. S. Borrower's Loan Apptication. Borrawer shall be in default if, during the I..oan application process, Borrower or any persons or entities acting at the direction of Borrower or with Bonawer's knowledge or cansent gave materially false, misleading, or inaccurate information or staternents to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representatians include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFQRM INSTRUMENT �-6(NE) 1oa� t 1 page � of i 5 iniciais: /� � Form 3028 9/07 � a ; :