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2U1102681
<br />proceeds for the repairs and restoration in a singie payment or in a series of progress payments as the work is completed. Unless
<br />an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be
<br />required to pay Borrower any interest or eamings on such proceeds. Fees for public adjusters, or other third parties, retained by
<br />Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair
<br />is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured
<br />by this Security Instrument, whether or not then due, with the excess, if any, paid to Boreower. Such insurance proceeds shall be
<br />applied in the order provided for in Section 2.
<br />If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters.
<br />If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim,
<br />then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if
<br />Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any
<br />insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any
<br />other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance
<br />policies covering the Property, insofar as such rights are applicable to the coverage of the Properiy. Lender may use the insurance
<br />proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security I nstrument, whether or
<br />not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days
<br />after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at
<br />least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably
<br />withheld, or unless extenuating circumstances exist which are beyond Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or
<br />impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in
<br />the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due
<br />to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower
<br />shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds
<br />are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the
<br />Property only if Lender has released proceeds for such purposes. Lender may disb�!rse proceeds for the repairs and restoration in
<br />a single payment or in a series of progress payments as the work is completed. lf the insurance or condemnation proceeds are not
<br />sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair
<br />or restoration.
<br />Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender
<br />may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an
<br />interior inspection specifying such reasonable cause.
<br />8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any
<br />persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading,
<br />or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the
<br />Loan. Material representations indude, but are not limited to, representations concerning Borrower's occupancy of the Property
<br />as Borrower's principal residence.
<br />9. Protection of Lender's Interest in the Property and Rights Under this Secu rity Instrument. lf (a) Borrower fails to
<br />perform the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly
<br />affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate,
<br />for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce
<br />laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or
<br />appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including protecting and/or
<br />assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited
<br />to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying
<br />reasonable attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured
<br />position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs,
<br />change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or
<br />dangerous conditions, and have utilities turned on or off. Although Lender may take action under this Section 9, Lender does not
<br />have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all
<br />actions authorized under this Section 9.
<br />NF,BRASKA—Single Family Fannie Mae/Freddie Mac UNIFORM INSTRUVIENT Form 3028 I/01
<br />NEBRASKA-MERS GreatDocs�
<br />ITEM 2698L6 (101909) (Page 6 of 13)
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