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201049793 work has been completed to Lender's satisfaction, provided that such inspection sha11 be undertaken prornptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series af progress payments as the work is campleted. Unless an agreement 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 intearest or earnings an 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 or not then due, with the excess, if any, paid Co Borrowex. Such 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 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. Tn either event, or if I.ender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to L.ender (a) Borrower's rights to any insurance proceeds in an amount nat to exceed ths amounts unpaid under the Note or this Security Tnstrument, and (b) any other of Borrower's rights (other than the right ta any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Froperty. 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 Instrument, 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 pf this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date af occupancy, unless Lender otherwise agrees in writing, which consent sha11 not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservat3on, Maintenance and Protection of the Property; Inspections. Borrawer shall not destroy, darnage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Prope�ty, Borrower shall maintain the Property in order to 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, Borrower sha11 promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnatian proceeds are paid in cannection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restaring 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 praceeds are not suf�cient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completian of such repair or restoration. Lender or its agent may rnake reasonable entries apon and inspections of the Property. If it has reasonable cause, L,�nder may inspect the interior of the improvennents on the Property. Lender shall give Borcower 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 Loan application process, Borrower or any persons or entities acting at the directian of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information ar statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, buC axe not limiced to, represencations cancerning Borrower's occupancy of the Property as Borrower's principal residence. .--� NEBRASKA - Single �amily -�annie Mae/Freddie Mac UNIFORM INSTRUMENT �-61NE) ioai i� Page 7 of 15 in�t�a . � Form 3028 7/07 � � , .� ,. , r