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tio��oss9� All insurance policies required by Lender and renewals of such golicies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall nama I.ender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all rec;eipts of paid premiums and renewai notices. If Bonower obtains any form of insurance coverage, not otherwise required by L.ender, for damage to, or destraction of, the Property, such golicy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Bonower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Bonower. Unless Lender and Bonower otherwise agree in writing, any insurance proceeds, whetlier or not the underlying insurance was required by Lender, shall be applied to zestoration 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, Lender shall have the right to hold such insurance proce�is until Lender has had an opportunity to insp�t such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be underta.ken 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 snch insurance proceeds, Lender shall not be required to pay Bonower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Bonower shall not be paid out of the insusance proc�fls and shall be the sole obligation of Bonower. If the restoration or repair is not economically feasible or Lender's security would be lessene3, the insurance pr�s shall be applied to the sums secure�i by this Security Instrument, whether or not then due, with the excess, if any, paid to �rrower. Such in.c�,�„� pra� shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Bonower dces 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-�ay geriod will begin when the notice is given. In either event, or if Lender acquires the Property under S�tion 22 or otherwise, Bonower hereby assigns to Lender (a) Bonower's rights to any insurance proceeds in an amount not to excee� the amounts wnpaid under the Note or this Security Instivment, and (b) any other of Borrower's rights (other than the right to any refund of uneazned premiums paid by Bonower) under all insurance policies covering the Property, insofar as such rights aze applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Securiry 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 ex�ution of this Security Insm�ment and shall continue to occupy the Progerty as Bonower's principal residence for at least one year after ttie date of occupancy, unless I,ender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which aze beyond Bonower's control. 7. Preservation, Mainten�nce and Protection of the Property; Inspections. Bonower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Pro�rty. Whether or not Bonower is residing in the Property, Bonower shall maintain the Property in order to prevent the Property from deteriorating or d�reasing in value due to its condition. Unless it is determined pursuant to 5ection 5 that repair or restorarion is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds aze paid in conn�tion with darnage to, or the taking of, the Property, Borrower sha11 Ue responsible for repairiug or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse prace�s NEBRASKA-Single Famfly-Fannie Mae/Fredd�e Mec UNIFORM INSTRUMENT VMP � Woltera Kluwer Financial Services Form 3028 7 /01 VMP6(NE) (i 706) Page 7 of 17 \�