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201105790 work has be�n completed to Lender' s sa,tisfaction, provided that such inspection sha11 be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a seri�s of progress payments as the work is completed Unl�s an agreement is made in writing or Applicable Law requires interest to Ue paid on such insurance proceeds, Lender shall not be required to pay Bonower any interest or earnings on such proceeds. Fces for public adjusters, or other third parties, retain� by Borrower shall not be paid out of the insurance procceds and shall be the sole obligation of Bonower. If the restoration or repair is not e�onomically feasible or Lender' s security would be lessened, the insurance 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 appli� in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and relat�i matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance 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) Bonower' s rights to any insurance procesds in an amount not to excced the amounts unpaid under the Note or this Security Instrument, and (b) any other of Bonower's rights (other than the right to any refiand of unearned premiums paid by Borrower) under all insurance policies covering the Properiy, insofar as such rights aze applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Properly or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Bonower' s principal residence within 60 days after the execution of this S�urity Instrument and shall continue to occupy the Property as Borrower' s principal residence for at least one year after the date of occupancy, unless Lender otherwise agrces in writing, wluch consent shall not be unreasonably withheld, or unless extenuating circumstances exist which aze beyond Borrower' s control. 7. Preservation, Maintenance and Prot�tion of the Property; Inspections. Bonower sha11 not destroy, damage or impair the Properly, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorati.ng or d�reasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not e�onomically feasible, Bonower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation procceds are paid in connection with damage to, or the taking o� the Property, Borrower sha11 be responsible far repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse procee�s 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 Properly, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entri� 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 Borrower notice at the tiine of or prior to such an interior insp�tion specifying such reasonable cause. 8. Borrower's Loan Application Bonower sha.11 be in default i� duriag the Loan application process, Bonower or any persons or entities acting at the direction of Borrower 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 principal residence. 11-06-000228 NEBRASKA - Single Family - Fannie Mae/Freddle Mac UNIFQRM INSTRUMENT VYI �� �-6A(NE) (08to) Page 7 of 15 Initials: Fornl 3028 9/01 e