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2010098a1 work has been cpmpleted to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and rest�ration in a single payment or in a series of progress payments 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 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 pf the insurance proceeds and shall be the sole obligation of Eorrower. If the restoration or repair is npt ecanornically feasible or Lender's security would be les5ened, the insurance proceeds shall be applied to the tiuma secured by this Security Instrument, whether or npt then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Sectian 2. Jf Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related rnatters. 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 5ection 22 or otherwise, Borrower hereby assigns to Lender (a) Barrower's rights to any insurance proceeds in an arnount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other nf Borrower' s rights (other than the right. to any refund of unearned premiums paid by Borrower) under a11 insurance policiea covering the Property, insofar as such ri�hts are applicable to the coverage of the Property. Lender rnay 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 6U days after the execution of this Security Instrument and shall continue to occupy fhe 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 Praperty; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether ar not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Proparty from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section S that repair or restoratian is not economically feasible, Ban 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 talcing ot; the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purpvses. Lender may disburse proceeds for the repairs and restoration in a single payrnent or in a series of progress payments as the worlc is completed. lf the insurance or condemnation proceeds are not sufficient to repair ar restare 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 tt�e Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Sorrower notice at the tirne of or prior to such an interior inspection specifyin� such reasonable cause. 8. Borrower's Lpan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons ar entities acting at the direction of Borrower or witk� Borrower's knowled�e or consent gave materially false, misleadin�;, ar inaccurate information or statements ta Lender (or failed to provide Lender with material infornaation) in conn�etion with the Loan. Material representations include, but are not limited to, representataons concerning Borrower' s occupancy of the Property as Borrower' s principal residence. 231018 NEBRASKA - Single �amily - Fannie MaelFreddie Mac LINIFORM INSTRUMENT �—�' �-6�NE) �oa�� Page7 of 15 in�c�ais: Fprm 3028 1/07 �