201100098 - Laserfiche WebLink

Browse

�oii000�� work has been campleted to Lender'ti satisfaction, provided that such inspection shall be undertaken promptly. Lender rnay disburse proceeds for the repairs and restoration in a single payment or in a series of progress payrnents as the work is completed. Unleas an agreezzaent 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 inter�st or earnings on such proceeds. Fees for public adjustera, or other third parties, retained by F3orr�wer shall not be paid out of the insura�ace proceeds and shall be the sole obli�ation of &�rrower. If the restoraCion or repair is npt economically feasible or Lender's security would be lessened, tlxe insurance proceeds shall be applied to tlie surns secured by this Security .instrument, whether or not thera due, with the excess, if any, paid to Borrower. Such insurance proceeds shall b� applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may tile, negotiate and settle any available insurance claim and related matters. If Barrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a clairn, then Lender may negotiate and setCle the claim. The 30-day period will begin when the notice is given. ln eitlxer event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an ampunt not to exceed the amounts unpaid under the Note or this 5ecurity Instrument, and (b) any other of Borrower' s rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as sucl� rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or tc� pay amounts unpaid und�r the Note or this Security Instrum.ent, whether or not fhen 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 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 writin�;, which consent shall nat be unreasonably withheld, or unless extenuating circuxnstances exist which are beyond Borrower's contrpl. 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. Whather or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it ia determined pursuant to Section 5 that repair or restoration is not economically feasible, Bonrow�r 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, Borrower shall be responsible for repairing or restoring th� Property only af 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 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 improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. S. Sorrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Horrower or with Borrower' s knowledge or consent gave materially false, misleading, or inaccurate infornaation or statements to Lender (or failed to provide Lender with rxaaterial information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy af the Property as Sorrower' � principal residence. 231029 NEBRASKA - Single Family - Fannie MaelFreddie Mac UNIFORM INSTRUMENT �-B(NE) �oeii� Pege7 of 15 initiais: � Form 3028 1/01 �