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201105312 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 eamings on such proceeds_ Fees for public adjusters, or other third parties, retained by Bonower shall not be paid out of the in� proceeds and shall be the sole obligation of Bortower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the in.c�rance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in 5ection 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available inswance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the instuance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any ins�uance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Bortower) uuder all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the inc��rance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6. Occnpancy. Bonower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days a$er the execution of this 5ecurity Instrument and shall continue to occupy the Properly as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Bonower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Properly, allow the Properly to deteriorate or commit waste on the Properly_ Whether or not Borrower is residing in the Property, Bonower shall maintain the Properiy in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurnnce or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Boaower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. 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. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Bonower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Bonower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Bonower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's ptincipal residence. NEBRASKA- Single Family - Fannle Mae/Freddle Mac UNIFORM INSTRUMENT �-6(NE) �os�� Page7ot15 Initials: FOI'1T13028 1/01