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201009789 wark has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. I.ender may disburse proceeds for the repairs and restoration in a single payznent or in a series of progress payments as the work is completed. 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, ar other third parties, retained by Borrower shall not be paid out of the insurance praceeds 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 sha11 be applied to the sums secured by this Security Instrument, whethex or nat then due, with the excess, if any, paid to Barrawer. Such insurance proceerls shall be applied in the ordear provided for in Section 2. Tf Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does nat respand within 30 days to a notice from I.ender 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. Xn either event, ar if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to I.ender (a) Borrawer's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Tnstrument, and (b) any other of Borrawer's rights (other than the right to any refund of unearned premiums paid by Barrower) under all insurance policies covering the Property, insofar as such rights are applicable to the caverage of the Praperty. L.ender may use the insurance praceeds either to repair or restore the Property ar to pay amaunts unpaid under the Note or this Security Instrument, whether or not then due. G. Occupancy. Bonower shall occupy, establish, and use the Property as Borrower's principal residence within CQ days after the executian of this Security Instrument and shall continue to occupy the Froperty as Borrower's principal residence for at least one year after the date of accupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrawer's control. '7. Preservation, Maintenance and Protection of the Property; Inspect3ons. 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 Property in order to prevent the Property frorn 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, Barrower shall prornptly repair the Property if damaged to avoid further deterioration or damage. Tf insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Bozxower 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 payments as the work is completed. If the insurance or condemnation procee�s are not sufficient ta repair or restore the Praperty, Borrower is not relieved of Borrower's obligatian for the completian of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it laas reasonable cause, Lender rnay inspect the interior of the improveznents on the Property. I.endex shall gave Sorrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. $. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Boarrower or any persons or entities acting at the directian of Borrower or with Barrower's lcnowledge or consent gave matexially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with znaterial information) in connection with the L.oan. Material representations include, but are not limited to, representations concerning Barrower's occupancy of the Property as Borrorver's principal residence. IVEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFpRM INSTRUMENT �-6�NE) �os�i� Page 7 of 15 �nitials: Form 3028 9/07 � � F r. 1 �� 1 �' • � c