201100230 - Laserfiche WebLink

Browse

2oii�o��n work has been completed to Lender' s satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburae proceeds for the repairs and restoration in a single payment or in a series of pro�ress 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. �"ees 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 Borrawer, 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 to Barrower. 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 insuxance claim and related matters. If B�rrawer does not respond within 30 days to a notice frorn Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period wi11 begin when the notice is given. in either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrr�wer's ri�hts to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rightti (pther than the right to any refund of unearned prexniums paid by Borrower) under a11 insurance policies covering the Property, insoFar as such rights are applicable to the covera�e of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Notc or this Securiry Instrument, whether or not then due. 6. Occupancy. Bprrower shall occupy, establish, and use the Property as Borrower' s principal residence widiin 60 days after the executian of this 5ecurity Instrumen� and shall continue to occupy the Property as Borrower' a principal residence for at least one year after the date of occupancy unless Lender otherwise agrees in writin�, which consent shall not be uzu withheld, ar unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Propert��; Inspections. Borrower shal] not destroy, damage or impair the Property, allow the Property to d�teriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrow�r shall maintain the Property in order to prevent the Property fram deteriorating or decreasing in value due to its condition. Unless it is deterrnined pursuant to Section 5 that repair or restoration is not econoxnically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. lf insurance or condemnation procaeds are paid 'zn connection with damage to, ar 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 saries 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 obligatian for the completion of such repair or restoration. Lender or its agent may make reasanable entries upon ax�d inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improverz�ents on the Property. Lender shall give Borrower notice at the time af or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrawer shall be in default if, during the Loan application process, Borrower or any persons or entitles acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide I�ender with material infozmation) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as IIorrower' s principal residence. 231042 NEBRASKA - Single Family - Fannie M aelFreddie M ac UNIFORM IN57RUM ENT �-B(NE) (0811) Page 7 of 15 Initials: � �� Form 3028 1101 �