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201103885
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Last modified
5/24/2011 8:50:40 AM
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5/24/2011 8:50:39 AM
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DEEDS
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201103885
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201103�85 <br />work has been completed to Lender's satisf�ction, provided that such inspection shall be undertaken <br />promptly. Lender may disbursa proceeds for the repairs and restoration in a single payment or in a serie,s <br />of progress payments as the work is completed. Unl�s an agreement is made in writing or Applicable Law <br />requires intere.st to be paid on such insurance proceeds, Lender ahall not be requireri to pay Bon'ower any <br />interest or earnings on such proc�ds. Fees for public adjusters, or other third parties, retained 1ry <br />Borrower shall not be paid out of the insurance procceds and shall be the sole obligation of Bonower. If <br />the restoration or repair is not e,conomically feasible or Lender's security would be lessen�, the insurance <br />proceeds shall be applied to the sums se�ured by this Security Instrument, whether or not thm due, with <br />the excess, if any, paid to Bortower. Such insurance proce�s shall be applied in the order provided for in <br />Section 2. <br />If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance <br />claim and relatad matters. ff Bortower does not respond within 30 days to a notice from Lender that the <br />insurance c;arrier has offered to settle a claim, then Lender may negotiate and settle the claim, Tha 30-da.y <br />periad will begin when the notice is given. In either event, or if Lender acquires the Property under <br />Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower' s rights to any insurance <br />procee�s in an amount not to eaccee� the am+ounts tmpaid under the Note or this Security Inslrument, and <br />(b) any other of Boaower's rights (other than the right to any refimd of unearned premiums paid by <br />Borrower) under a11 insurance policies covering the Property, insofar as such rights are applic;able to the <br />coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Proge�ty ar <br />to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. <br />6. Occnpancy. Bonower sha11 occ�tPY, estab]ish, and use the Propeity as Borrower's principal <br />residence within 60 days after the execcution of this 5ecurity Instiiiment and shall continue to ax�xpy the <br />Property as Borrower' s principal residence for at least one year after the da.te of occupancy, unless Lender <br />othervvise agre,es in writing, wlrich consexit sha11 not be unreasonably withheld, or unless extenuating <br />circumstances exist which are beyond Borrower' s control. <br />7. Preservat3on, Maintenance and Protection of the Property; Inapect�tona. Boaower shall not <br />destroy, dannage ar impair the Property, allow the Property to deteriorata or commit waste on the <br />Property. Whether or not Boaower is residing in the Property, Borrower shall maintain the Property in <br />order to prevent the Ptoperty from deteriorating or deereasing in value due to its condition. Unleas it is <br />determined pursuant to Section 5 that regair ar restoration is not economically feasible, Boirower sha11 <br />promptly repair the Properiy if daznaged to avoid further deterioration or damage. If insurance or <br />condemnation proceecis are paid in connection with d$mage to, or the taking o� the Properiy, Boxrower <br />shall be resgonsible for repairing or restoring the Properiy only if Lender has releasefl proc�eds for such <br />purposes. Lender may disburse proceeds for tha repairs and restoration in a single payment or in a se�ies of <br />Pro�'� PaYments as the work is completed. If the insurance or condemnation proceads are not sufficient <br />to repair ar restore the Propezty, Borrower is not relievefl of Borrower' s obligation for the completion of <br />such repair or r�toration. <br />Lender or its agent may make reasonable entries upon and inspections of the Property. If it hes <br />reasonable cause, Lender may inspe�t the interior of the improvements on the Property. Lender shall give <br />Boaower notice at the time of or prior to such an interior insgection aPec;ifyinb such reasonable cause. <br />S. Borrower's Loan Application Borrower shall be in default i� during the Loan applic�tion <br />process, Borrower or any persons or entities acting at the direction of Bonower or with Borrower's <br />knowledge or consent gave materially false, misleading, ar inacxurate information or state�nents to Lender <br />(or failed to provide Lender with material infornoation) in connection with the Loan. Material <br />representations include, but are not limited to, representations concerning Borrower' s occupancy of the <br />Properiy as Borrower' s principal residence. <br />2200132068 D V6ANE <br />NEBRASKA - Single Family - Fannle MaelFreddie Mac UNIFORM INSTRUMENT WfT ERS <br />�-6A(NF� toe�ol �e � � �e i�aais: -VI/�.Form 3028 7/07 <br />� <br />
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