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20��06884 All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standazd mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Bonower shall promptly give to Lender all r�eipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Properly, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss paye,e. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Bonower otherwise agree in writing, any insurance procceds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, I.ender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the 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 Bonower any interest or earnings on such procceds. Fe�s for public adjusters, or other third parties, retained by Bonower shall not be paid out of the insurance proceeds and shall be the sole obligation of Bonower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall. be applied to the sums s�ured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proc�s sha11 be applied in the order provided for in 5�tion 2. If Bonower abandons the Property, Lender may file, negoriate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a norice from Lender that the insurance cairier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will hegin when the notice is given. In either event, or if Lender acquires the Property under Se�tion 22 or otherwise, Borrower hereby assigns to Lender (a) Bonower's rights to any �nc,�rance proceeds in an amount not to excced 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 Bonower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. L.ender may use the insurance 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. Occupancy. Bonower shall occupy, establish, and use the Property as Bonower's principal residence within 60 days after the execution of this Security Instivment and shall continue to occupy the Property as Bonower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agr�s in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist whicii are hEyond Bonower's coutrc�l. 7. Preservation, Maintenance and Protection of the Property; Inspections. Bonower shall not destroy, da�age or i�rpair the Property, allow �e �'roperty to deteriorate or commit waste on the Progerty. Whether or noi Bortower is r�iding in the Properl3�, Bors�ower 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 ec:onomically feasible, Bonower shall promptly repair the Property if damaged to avoid fiuther deterioration or damage. If insurance or condemnation proc�eeds are paid in connection with damage to, or the taking of, the Property, Borrower shall he responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proce�s NEBRASKA-Single Family-Fannie Mae/Fr�ldie Mac UNIFORM INSTRUMENT Form 3028 1/01 VMP � VMP6(tdE) (1105} Wolters Kluwer Financial Servic� Page 7 of 17