201009649 - Laserfiche WebLink

Browse

201009649 work has been completed to L.ender's satisfaction, provided that such inspection sha11 be undertaken promptly, I.ender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is cornpleted. Unless an agreernent is rnade 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 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 of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether ar not then due, with the excess, if any, paid to Borrower. Such insurance praceeds shall be applied in the order provided for in Section 2. Tf Borrower abandons the Property, L.ender may �le, negotiate and settle any available insurance claim and related matters. If 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 acquires the Property under Section 22 qr otherwise, Borrower hereby assigns to L.ender (a) Borrower's rights ta any insurance proceeds in an amount not to exceed the amaunts unpaid under the Note or this 5ecurity Instrument, and (b) any other af Borrawer's rights (other than the right to any refund of unearned premiums paid by Bonower) under all insurance policies covering the Prap�rty, insofar as such rights are applicable to the caverage of the Property. L.ender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instz�u�ment, whether or not then due. b. Occapancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument 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 circurnstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; inspections. Barrower shall not destroy, damage or impair the Praperty, allaw the Property to deteriorate ar cammit waste an the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain tha Property in order ta prevent the Property from deteriorating or decreasing in value due to its condition, Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, �orrower shall promptly repair the ProperCy if damaged Co avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Bonower shall be responsible for repairing or restoring the Property only 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 payrnents as the work is completed. If the insurance or candemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the irnproveraents on the Property. L.ender shall give Borrawer notice at the time af or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the L.aan application process, Borrower or any persons or entities acting at the direction of Borrower ar with Borrower's knowledge ar consent gave materially false, misleading, or inaccurate informatian or statements to Lender (or failed to provide I.ender with material information) in connection with the Loan. Material representations includc, but are not limited to, representations eoncerning Borrower's occupancy of the Property as Borrower's principal residence. NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT �-61NE) (o8t t1 Page 7 of 15 inieiais: Porm 3028 1/09 � d �S ' %r