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201103055
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Last modified
4/22/2011 12:18:53 PM
Creation date
4/22/2011 12:18:49 PM
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DEEDS
Inst Number
201103055
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20110305� <br />work has been completed to Lender's satisfaction, provided that such insp�tion shall be undertaken <br />promptly. Lender may disburse procee�s for the repairs and restoraxion in a single payment or in a series <br />of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law <br />requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Bonower any <br />interest or earnings 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 obligarion of Bonower. If <br />the restoration or repair is not e�onomically feasible or L,ender's security would be lessened, the insurance <br />proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with <br />the excess, if any, paid to Bonower. Such in�,�r�nce proceeds shall be applied in the order provided for in <br />Section 2. <br />If Bonower abandons the Property, Lender may file, negotiate and settle any available �n���nce <br />claim and related matters. If Bonower does not respond within 30 days to a norice from Lender that the <br />insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day <br />period will begin when the notice is given. In either event, or if Lender acquires the Properiy under <br />Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance <br />procceds in an amount not to exceefl the amounts unpaid under the Note or this S�urity Instnunent, and <br />(b) any other of Bonower's rights (other than the right to any refund of unearned premiums paid by <br />Borrower) under all insurance policies covering the Property, insofar as such rights aze applicable to the <br />coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Properiy or <br />to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. <br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal <br />residence within 60 days after the execurion of this Security Instrument and shall continue to occupy the <br />Property as Bonower's principal residence for at least one year after the date of occupancy, unless Lender <br />otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating <br />circumstances exist which are beyond Bonower's control. <br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not <br />destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the <br />Property. Whether or not Bonower is residing in the Property, Bonower shall maintain the Property in <br />order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is <br />determined pursuant to Section 5 that repair or restoration is not e,conomically feasible, Bonower shall <br />promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or <br />condemnation proceeds aze paid in conn�rion with damage to, or the taking of, the Property, Borrower <br />shall be responsible for repairing or restoring the Property only if Lender has releasefl proceeds for such <br />purposes. Lender may disburse procceds for the repairs and restoration in a single payment or in a series of <br />progress payments as the work is completed. If the insurance or condemnation proceeds aze not sufficient <br />to repair or restore the Property, Bonower is not relievefl of Borrower's obligation for the completion of <br />such repair or restoration. <br />Lender or its agent may make reasonable entries upon and insp�tions of the Property. If it has <br />reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give <br />Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. <br />8. Borrower's Loan Application. Bonower shall be in default if, during the Loan application <br />process, Bonower or any persons or entities acting at the direction of Borrower or with Bonower's <br />lmowledge or consent gave materially false, misleading, or inaccurate informarion or statements to Lender <br />(or failed to provide Lender with material information) in connection with the Loan. Material <br />representations include, but are not limited to, representations concerning Bonower's occupancy of the <br />Property as Bonower's principal residence. <br />NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT <br />�-6(NE) toa� �J Page 7 of 15 inntais: Form 3028 1/01 <br />m <br />��� <br />\ <br />.` <br />� <br />
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