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201iO322C
<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. Borrower sha11 occupy, establish, and use the Properly as Bonower's principal residence
<br />within 60 days after the execution of tlus Security Instrument and shall continue to occupy the Property as Bortower'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 Bortower's
<br />control.
<br />7. Pre,servation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy,
<br />damage or impair the Properiy, a11ow the Properiy to deteriorate or commit waste on the Properiy. Whather or not
<br />Borrower is residing in the Properiy, Bonower sha11 maintain the Properiy in order to prevent the Ptoperty from
<br />deteriorating or d�reasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or
<br />restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further
<br />deterioration or damage. If insurance or cottdemnation proceerls 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 releas�l
<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 Bonower's obligation for the completion of such repair
<br />or restoration.
<br />Lender or its agent may make reasonable entries upon and inspe,�tions of the I'roperty. If it has reasonable cause,
<br />Lender may inspect the interior of the improvements on the Properly. Lender sha11 give Bonower notice at the time
<br />of or prior to such an interior inspe,ction sp�ifying such reasonable cause.
<br />8. Borrower's Loan Application. Bonower sha11 be in default if, during the Loan application process,
<br />Bonower or any persons or entities acting at the direction of Borrower or with Bonower's knowledge or consent gave
<br />materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with
<br />material information) in connection with the Loan. Material representations include, but aze not limited to,
<br />representations concerning Borrower's occupancy of the Properly as Bonower's principal residence.
<br />9. Protection of Lender's Interest in the Property and Rights Under this S�urity 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 Security Instrument
<br />(such as a proce�iing in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a Iien which may
<br />attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the
<br />Properly, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the
<br />Properly and rights under this Security Instriunent, including prote,cting and/or assessing the value of the Property,
<br />and securing and/or repaining fhe Property. Lender's actions can include, but aze not limited to: (a) paying any sums
<br />secured by a lien wkrich has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable
<br />attomeys' 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 Pzoperiy 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 incwrs no liabiliry for not taking any or a11 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 />Se�urity Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and sha11 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 a11 the provisions of the lease.
<br />Borrower shall not surrender the leasehold estate and interests herein conveyed or tertninate or cancel the ground lease.
<br />Bonower shall not, without the express written consent of Lender, alter or amend the ground leasa. 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 />Insura�ce coverage required by Lender ceases to be available from the mortgage insurer that previously provided such
<br />insurance and Borrower was required to make separately designat� payments toward the premiums for Mortgage
<br />Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage
<br />Insurance previously in effe,ct, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance
<br />previously in eff�t, from an alternate mortgage insurer sele,cted by Lender. If substantially equivalent Mortgage
<br />Insurance coverage is not available, Bonower sha11 continue to pay to Lender the amount of the separately designated
<br />payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these
<br />payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve sha11 be non-refundable,
<br />notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any
<br />interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance
<br />coverage (in the amount and for the period that Lender requires) provided by an insurer sel�ted by Lender again
<br />becomes available, is obtained, and Lender requires sepazately designated payments towazd the premiums for
<br />Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Bonower was
<br />required to make sepatately designated payments towazd the premiums for Mortgage Insurance, Borrower sha11 pay
<br />the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until
<br />Lender's requirement for Mortgage Insurance ends in accordance with any written agr�ment between Borrower and
<br />NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT DocMeg/c �
<br />Form 3028 1/01 Page 5 of 11 www.docmagtc.com
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<br />Ne3028.dot.xml
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