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�0�106532
<br />All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to
<br />disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee
<br />and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If
<br />Lender requires, Borrower shall promptly give to Lender all rec;eipts of paid premiums and renewal notices.
<br />If Bonower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or
<br />destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as
<br />mortgagee and/or as an additional loss pay�.
<br />In the event of loss, Borrower shall give prompt norice to the insurance cazrier and L,ender. Lender may
<br />make proof of loss if not made promptly by Bonower. Unless Lender and Bonower otherwise agree in
<br />writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be
<br />applie� to restoration or repair of the Property, if the restoration or repair is economically feasible and
<br />Lender's s�urity is not lessened. During such repair and restoration period, Lender shall have the right to
<br />hold such insurance proceeds until Lender has had an opportunity to inspect such Properiy to ensure the
<br />work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken
<br />promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of
<br />progress payments as the work is completefl. Unless an agr�ment is made in writing or Applicable Law
<br />requires interest to be paid on such insurance proceeds, I.ender shall not be required to pay Borrower any
<br />interest or earnings on such proceeds. Fces for public adjusters, or other third parties, retained by Borrower
<br />shall not Ue paid out of the in�rance proceeds and shall be the sole obligation of Borrower. If the restoration
<br />or repair is not economically feasible or Lender's security would be lessened, the insurance procceds shall be
<br />applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any,
<br />paid to Borrower. Such insurance proceeds shall be applied in the order provided for in S�tion 2.
<br />If Borrower abandons the Properiy, Lender may file, negotiate and settle any available insurance claim and
<br />related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance
<br />carrier has offered to settle a claim, then L.ender may negotiate and settle the claim. The 30-day period will
<br />begin when the notice is given. In either event, or if Lender acquires the Properly under Section 22 or
<br />otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance procceds in an amount
<br />not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of
<br />Bonower's rights (other than the right to any refund of unearned premiums paid by Bonower) under all
<br />insurance policies covering the Property, insofar as such rights aze applicable to the coverage of the
<br />Properiy. Lender may use the insurance procceds either to repair or restore the Property or to pay amounts
<br />unpaid under the Note or this S�urity Instrument, whether or not then due.
<br />6. Occupa�cy. Boirower shall occupy, establish, and use the Property as Bonower's principal residence
<br />within 60 days after t�e ex�ution of tlus Security Instrument and shall continue to occupy the Property as
<br />Borrower's �rineipa� re.sidence for at l�ast one year after the date of occupancy, unless Lender otherwise
<br />ag� in wri�ing, whic� consent shaLl not be unreasonably wi�eld, or unless extenuating circwnstances
<br />e�t w3a�ch are beyoud Borrower's oon�sol.
<br />7. Preservatior�, M�ir�t�ance and Protection of the Property; Inspections. Borrower shall not destroy,
<br />damage or impair the Property, allow the Properiy to deteriorate or commit waste on the Properiy. Whether
<br />or �t Bonower is residiug in the Property, Borrower shall maintain t�e Property in order to prevent the
<br />Property from deteriorating or de�reasing in value due to its condition. Unless it is determined pursuant to
<br />Secrion 5 that repair or restoration is not economically feasible, Bonower shall promptly repair the Property
<br />if damaged to avoid further deterioration or dama.ge. If insurance or condemnation proceeds are paid in
<br />connection with damage to, or the taking of, the Property, Bonower shall be responsible for repairing or
<br />restoring the Property only if I,ender has released proceeds for such purposes. Lender may disburse procceds
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />VMP �
<br />Wohers Kluwer Financial Services
<br />� �
<br />Fo� soze �ro�
<br />VMP6fNE) (1105)
<br />Page 7 of 17
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