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2oi�o���� <br />provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and <br />restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement <br />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, <br />reta,ined by Bonower shall not be paid out of the insurance proceeds and shall be the sole obligation of Bonower. <br />If the restoration or repair is not econamically feasible or Lender's security would be lessened, the insurance proceeds <br />shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid <br />to Borrower. Such insurance proceeds shall be 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 <br />related matters. If Bonower does not respond within 30 days to a notice from Lender that the insurance carrier has <br />offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the <br />notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Bonower hereby <br />assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid <br />under the Note or this Security Instrument, and (b) any other of Bonower' s rights (other than the right to any refund <br />of unearned premiums paid by Bonower) under all insurance policies covering the Property, insofar as such rights <br />are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the <br />Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. <br />6. Occupancy. Bonower shall occupy, establish, and use the Property as Bonower's principal residence <br />within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Bonower's <br />principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which <br />consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower' s <br />control. <br />7. Preservation, Maintenance and Protection of the Property; Inspecnons. Borrower shall not destroy, <br />damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not <br />Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from <br />deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or <br />restoration is not economically feasible, Bonower shall promptly repair the Property if damaged to avoid further <br />deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking <br />of, the Property, Bonower shall be responsible for repairing or restoring the Property only if Lender has released <br />proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in <br />a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient <br />to repair or restore the Property, Bonower 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, <br />Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time <br />of or prior to such an interior inspection specifying such reasonable cause. <br />8. Borrower's Loan Applicallon. Bonower shall be in default if, during the Loan application process, <br />Bonower or any persons or entities acting at the direction of Bonower or with Borrower' s knowledge or consent gave <br />materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with <br />material inforrnation) in connection with the Loan. Material representations include, but are not limited to, <br />representations concerning Bonower' s occupancy of the Properly as Bonower' s principal residence. <br />9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) <br />Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal <br />proceeding that might significantly affect Lender' s interest in the Property and/or rights under this Securiry Instrument <br />(such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may <br />attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the <br />Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the <br />Property and rights under this Security Instrument, including protecting and/or assessing the value of the Property, <br />and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums <br />secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable <br />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 <br />make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or <br />other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action <br />under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that <br />Lender incurs no liability for not taking any or all actions authorized under this Section 9. <br />Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this <br />Security Instrument. These amounts shall bear interest at the Note rate from the da.te of disbursement and shall be <br />payable, with such interest, upon notice from Lender to Bonower requesting payment. <br />If this Security Instrument is on a leasehold, Bonower shall comply with all the provisions of the lease. <br />Bonower shall not surrender the leasehold estate and interests herein conveyed or terminate or cancel the ground lease. <br />Borrower shall not, without the express written consent of Lender, alter or amend the ground lease. If Borrower <br />acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger <br />in writing. <br />10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Bonower <br />shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage <br />Insurance coverage required by Lender ceases to be available &om the mortgage insurer that previously provided such <br />NEBRASKA—Single Family—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT - MERS LlocMagJc� <br />Form 3028 1J01 Page 5 of 11 www.docmagfc.com <br />Ne3028.mad�nl <br />