201100177 - Laserfiche WebLink

Browse

2oilooi�� work has been completed to Lender's satisfaction, provided that such inspectian shall be undertaken prorr►ptly. L,ender znay disburse proceeds for the repairs and restoration in a single payment or in a series of pragress payments as the work is cvmpleted. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, L.ender shall not be required to pay $orrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by $orrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is nat econamically feasible or L.�nder's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Jnstrument, whether or nat then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order pravided for in 5ection 2. Tf 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 l.ender may negotiate and settle the claim. The 30-day period will begin when the natice is given. In either event, or if I.ender acquires the Praperty under Section 22 or otherwise, Borrower hereby assigns ta Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid ur�der the Note or this Security Instnu�nt, and (b) any other of Bonower's rights (other than the right to any refund of unearned prenniwrns paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender rnay use the insurance proceeds either ta 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 accupy, establish, and use the Property as Borrower's principal residence within b0 days after the execution of this $ecurity Instrument and sha11 continue to occupy the Property as Borrower's principal residence for at least one year afCer the date of accupancy, unless L.ender otherwise agxees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyand Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, darnage or innpair the Froperty, allow the Property to deteriorate or conrunit waste on the Property. Whether or not Borrower is residing in the Property, Bonower shall maintain the Property in order to prevent the Praperty fram deteriarating or decreasing in value due to its candition. Unless it is determined pursuanC to Section S that repair or resCoration is not economically feasible, Borrower shall proznptly repair the Property if damaged to avoid further deterioration or damage. If insurance or cande�ruaation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender znay disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. IE the insurance or condernnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for Che completio� of such repair ar restoration. Lender or its agent rnay 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 s�all give Bonower notice at the time of or prior to such an interior inspection specifying such reasonable cause. S. Borrower's Laan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of $arrower or with Borrower's knowlecige or consent gave rnaterially false, misleading, or inaccurate infarmation or staternents to Lender (or failed to provide L,ender with material infarmation) in connectian with the I.oan. Material representations include, but are not limited ta, representations concerning Barrower's occupancy of the Property as Barrower's principal residence. NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT �-BINE) (0811) Page 7 of 15 in�t�ais: ,� Form 3028 1/U1 � � 1 �