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20�10�03�
<br />All insurance policies required by Lender and renewals of such policies shall be subje�t 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 ha�e the right to hold the policies and renewal certificates. If
<br />Lender requires, Borrower shall promptly give to Lender all receipts 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 sha11 include a standard mortgage clause and shall name Lender as
<br />mortgagee and/or as an additional loss payce.
<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 Bonower. Unless Lender and Bonower otherwise agr� in
<br />writing, any insurance procceds, whether or not the underlying insurance was required by Lender, shall be
<br />applied to restorarion or repair of the Property, if the restoration or repair is ec:onomically feasible and
<br />Lender's security is not lessenefl. During such repair and restoration period, Lender shall have the right to
<br />hold such insurance proce�s until Lender �as had an opportunity to insp�t such Property to ensure the
<br />work has been completed to Lender's sarisfaction, provided that such inspection shall be undertaken
<br />promptly. Lender may disburse praccefls for the repairs and restoration in a single payment or in a series of
<br />progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law
<br />requires interest to be paid on such insurance procceds, Lender shall not be r�uired to pay �rrower any
<br />interest or earnings on such proceeds. F�s for public adjusters, or other third parties, retained by Borrower
<br />shall not be paid out of the insurance proccefls and shall be the sole obligarion of Borrower. If the restoration
<br />or repair is not ec;onomically 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 Bonower. Such insurance proceeds shall be appli� 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 />related matters. If Bonower does not respond within 30 days to a norice from Lender that the insurance
<br />carrier has offereti 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 Properiy under Section 22 or
<br />otherwise, Bonower hereby assigns to Lender (a) Bonower's rights to any insurance proce�s in an amount
<br />not to exce� the amounts unpaid under the Note or this Security Instrument, and (b) any other of
<br />Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all
<br />insurance policies covering the Properiy, insofar as such rights aze applicable to the coverage of the
<br />Property. Lender may use the insurance proceetis either to repair or restore the Property or to pay amounts
<br />unpaid under the Note or this Se,curity Instrument, whether or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence
<br />within 60 days after the exc�ution of this Security Instnunent and shall continue to occupy the Property as
<br />Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise
<br />agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstancas
<br />exist which are beyond Borrower's co�rol.
<br />7. Preserv�tion, Mainten�nce and Prot�on of the Property; Inspections. Borrower shall not destroy,
<br />damage or impair the Properly, allow the Pa�perty to deteriorate or commit waste on the Properry. Whether
<br />or not Borrower is residing in the Property, Bonower shall maintain the Property in order to prevent the
<br />Properiy from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to
<br />S�tion 5 that repair or restorarion is not e�onomically feasible, Bonower shall promptly repair the Property
<br />if damaged to avoid furkher deterioration or damage. If insurance or condemnation proc,eeds aze paid in
<br />conne,ction with daznage to, or the taking of, the Property, Bonower shall be responsible for repairing or
<br />restoring the Properly only if Lender has released proceeds for such purposes. Lender may disburse proceeds
<br />NEBRASKA-Single Family-Fannis Mae/Freddie Mac UNIFORM IIVSTRUMENT
<br />VMP �
<br />Wohers Kluwar Financial Service.v
<br />Form soz8 1rot
<br />VMP61NE1 (7105)
<br />Page 7 of 17
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