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<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 addirional loss payee. Lender shall have the right to hold the policies and renewal certificates. If
<br />Lender requires, Borrower shall promptly give to Lender a11 re,ceipts of paid premiums and renewal notices.
<br />If Borrower 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 payee.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may
<br />make proof of loss if not made promptly by Borrower. 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 />applied 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 Property 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 />progr�s payments as the work is co�leted. Unless an agreement is made in writing or Applicable Law
<br />requires interest to be paid on such insurance procee�s, Lender sha11 not be r�uired to pay Borrower any
<br />interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Bonower
<br />shall not be paid out of the insurance proceeds and shall be the sole obligation of Bonower. If the restoration
<br />or repair is not ec:onomically feasible or Lender's s�urity would be lessened, the insurance proceeds shall be
<br />applied to the sums s�ured by this Security Instrument, whether or not then due, with the excess, if any,
<br />paid to Bonower. Such insurance proceeds shall be applied in the order provided for in S�tion 2.
<br />If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and
<br />relate� matters. If Bonower does not respond within 30 days to a notice from Lender that the insurance
<br />cazrier has offered to settle a claim, then Lender 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 Property under Section 22 or
<br />otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount
<br />not to exceed the amounts unpaid under the Note or tlus Security Instivment, 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 />inc�,rance policies covering the Properly, insofar as such rights are applicable to the coverage of the
<br />Properiy. Lender may use the insurance proc,eeds either to repair or restore the Properiy or to pay amounts
<br />unpaid under the Note or this Security Instrument, whether or not then due.
<br />6. Occupancy. Bonower shall occupy, establish, and use the Property as Borrower's principal r�idence
<br />within 60 days after the execution of this �urity Instrument and shall continue to occupy the Property as
<br />Borrower's principal a�.sidence for at least cme year after the date of occupancy, unless Lender othervvise
<br />agr� i� �vriting, �ic�a consent shali n�i � unreasonably withheld, or unless extenuating circumstances
<br />exist w�aarh are beyonr� Borrower's co�mol.
<br />7. Preservation, Maintenaaice and Protection of the Property; Inspections. Bonower shall not destroy,
<br />damage or impair the Ptoperty, allow i�e Properiy to deteriorate or commit waste on the Property. Whether
<br />or not Boraiovwer is residing in the Propert�, Borrower shall maintain the Property in order to prevent the
<br />Progerty �rom deteriora#ing or d�reasing in value due to its condition. Unless it is determined puzsuant to
<br />5ecrion 5 that repair or restoration is not �:onomically feasible, Bonower shall promptly repair the Property
<br />if damageti to avoid �urther deterioration or damage. If insurance or condemnation proc,eeds aze paid in
<br />connedion with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or
<br />restoring the Properly only if Lender has released proceeds for such purposes. Lender ma.y disburse proceeds
<br />NEBRASKA-Single Family-Fannie Mae/Freddis Mac UNIFORM INSTRUMENT
<br />VMP Q
<br />Wolters Kluwer Financial Services
<br />Form 3028 1/01
<br />VMP6INE) (9105)
<br />Page 7 of 17
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