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201100483 work has been completed to L.cnder's satisfaction, provided that such inspectian shall be undertaken promptly. Lender may disburse praceeds for the repairs and restoration in a single payment or in a series of progress payments as the worl� is completed. Unless an agreernent is rnade 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 of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not econornically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Tnstrument, whether or nat then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, L,Qnder may file, negotiate and settle any available insurance claim and related rnatters. If Borrower 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 clairn. The 30-day period will begin when the notice is given. In either event, or if Lender acyuires the Praperty under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Barrower's rights to any insurance proceeds in an amount not ta exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insuxance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this 5ecurity Instrument, whether or nat then 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 Instrurnent 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 writing, which consent shall not be unreasonably withheld, or unless extenuating circurnstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection af the Property; Inspections. Borrower shall not destroy, damage or impair the Praperty, a11ow the Property to deteriorat� or COIriIrilt waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Pxoperty from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not econamically feasible, Borrower shall promptly repair the Property if damaged ta avoid further deterioration or damage. Tf insurance or condemnation proceeds are paid in connection with damage to, or the taking af, the Property, Borrower shall be responsible for repairing or restoring the Property only if I.ender has released proceeds for such purposes. I.ender may disburse proceeds for the repairs and restaration in a single payment or in a series of progress payments as the work is completed. If the insurance ar condemnation proceeds are nat sufficient to repair or restore the Property, Borrower is not relieved of Borrower's abligatian far the campletion of such repair or restoration. Lender or its agent rnay rnake reasonable entries upon and inspections of the Property. If it has reasonable cause, l.ender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the tirne of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower'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 Borrower or with Borrower's knawledge ar consent gave materially false, misleading, or inaccurate information or statements to L,ender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not lirnited to, representations cnncerning Borrower's occupancy of the Property as Borrower's principal residence. NEBRASKA - Single Family - Fannie MaelFreddie Mac UNIFpRM INS7RUIVIEN7 � �-6�NE) �oai ii Page 7 of 15 initiais: �� Form 3028 1/01 �