201103229 - Laserfiche WebLink

Browse

20110322� work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made 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 Bonower shall not be paid out of the insurance proceeds and shall be the sole obligation of Bonower. If the restoration or repair is not economically feasible or Lender's s�urity would be lessened, the insurance proceeds shall be applied tp the sums secured by this S�urity Instrament, whether or not then due, with the exc�s, if any, paid to Bonower. Such in�ra„ce proceeds shall be applied in the order provided for in Sedion 2. If Borrower abandons the Progerty, Lender may file, negoriate and settle any available insurance claim a�d related matters. If Bortower does not sespond within 30 days to a notice from Len,der that the insurance canaer has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period wi11 begin when the notice is given. In either event, or if L.ender acquires the �roperty under Section 22 or otherwise, Borrower hereby assigns to L.ender (a) Bono�+er's rights to any insuuzaance proceefls in an amount not to exceed the amounts unpaid under the Note or this Security Insriurnr�t, and (b) any other of Borrower`s rights (other than the right to any refund of unearn� premiums g�aid by Bortower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Praperty. Lender may use the insurance proceeds either to repair or restore the Progerty or to pay amounts unpaid under the Note or this Se.curity Tnstrument, whether or not then due. 6. Occupancy. Bonower shall occupy, establish, and use the Properiy as Borrower's principal residence within 60 days after the execution of this 5ecurity Instrument and shall continue to occupy the Property as Bonower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in �vriting, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservatioa, Maintenance and Protection of the Property; Inspections. Bono�ver shall not destroy, da.ma.ge or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Bonower 5hali maintain the Property in order to prevent the Property from deteriorating or d�reasing in value due l�o its condition. Unless it is determin� pursuant to Secrion 5 that repair or restoration is not economically feasible, Bonower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation pracceds are paid in conne,ction with damage to, or the taldng of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. L.ender may disburse procceds for the repairs and restoration in a single payment or in a series of progress payments as the work is connplet�. If the insurance or condemnation proceeds are not safficient to repair or restore the Property, Bonower is not relieved of Borrower's abligarion for the compl�tion of such repair or re.storatioa. Lender or its agent may make reasor�able etttries upon and inspecfions of the Progerty. If a� �as reasonable rause, Lender may insp�t the iamt�rior of the improvements on the Property. Lender shall give Bflrrower not�ce at t�e time of or prior to sucfii an interior inspection sp�ifying such reasonable cause. 8. Borrow�'s Loan Application. Boaaawer shall be in default if, during the Loan application process, Bormwer or any persons or entiti� acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statemeats to Lender (or failed to provide Lender with material information) in conn�tion with the Loan. Material represetttations include, but aze not limited to, representations cancerning Borrower's occupancy of the Property as Borrower`s principal residence. NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT �-6(WE) (O8� �1 Page 7 of 75 �nitials: Form 3028 1/01 � ' 1�