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201100314 work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restaration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is rnade in writing or Applicable Law requires interest ta be paid on such insurance procceds, Lender shall not bc require� 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 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 procecds shall be applietl to the sums se�ured 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 insurance claim and related matters. If Borcower does not respond within 30 days to a notice frorn Lender that the insurancE carrier has offered to settle a clairn, then Lender may negotiate an�d settle the clairn. The 30�1ay period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to L.ender (a) Bonavwer's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security tnst�at, aaa�d (b) any other of Borrower's rights (other than the right to any refund of uneaarned premiurns paid by Borrower) under all insurance policies covering the Property, insafar as such rights aze applicable to the coverage of the Praperty. Lender may use the insurance proceeds either to repair or restore the Property or to pay amaunts unpaid under the Note or this Security Instiwnent, whether or not then due. b. Occupancy. Borrower shall occupy, establish, and use the Property as Barrawer's principal residence within C�0 days after the execution af this Security TnsCnur►ent and shall continue Co occupy the 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 w�iless extenuating circumstances exist which are beyond Borrower's cornrol. 7. Preservation, Maintenance and Protectian of the Property; Inspections. Bonower shall nat destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Bonower sha11 rnaintain the Property in order to prevent the Property from deteriorating ar decreasing in value due to its condition. Unless it is deternuned pursuant to Section 5 that repair or restoratian is not ecanamically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioratian or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Praperiy, Borrower shall be responsible for rc:pairing or restoring the Property only if I.ender has released proceeds for such puzposes. I,ender may disburse proceeds for the repairs and restoration in a single payment or in a se.�ies 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 Borrawer's obligation for the compktian of such repair or restoration. L,ender or its agent may make reasonable entries upoan and inspections of the Property. if i# has reasanable cause, Lender may inspect the interior of the irnprovements on the Property. Lender shali give Borrower notice at the tirne of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Laan Applicatian. Barrower shall be in default if, during the Laan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or cansent gave materially false, misleading, or inaccurate inforn�ation or statements to I..ender (or failed to provide J..ender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borcower's occupancy of the Property as Borrower's principal residence. NEBRASKA - 5ingle Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT �-6(NE) (osi t) Page 7 of 15 �nitia�s: Fot'm 3028 1/01 �� �,