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�01107663 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 addirional loss payee. Lender shall have the right to hold the policies and renewal certificates. If L.ender requires, Bonower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Bonower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall nazne Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower sha11 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 proceeds, 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 ei:onomically feasible and Lender's s�urity is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has b�n completed to Lender's sarisfaction, provided that such inspecrion shall be undertaken promptly. Lender may disburse praceeds 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 proceerls, 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 inc��ran� proc.eeds and shall be the sole obligarion of Bonower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance procceds shall be applied to the sums secwre� by this Security Instrument, whether or not then due, with tlte exc.ess, if any, paid to Bonower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Bonower abandons the Property, Lender may file, negoriate and settle any available insurance claim and relateci matters. ff Bonower does not respond within 30 days to a norice from I.ender that the insurance carrier has offererl to settle a claim, then Lender may negoriate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Properiy under Section 22 or otherwise, Bonower hereby assigns to Lender (a) Bonower's rights to any insurance proceeds in an amownt not to exceed the amounts unpaid under the Note or this Security Instnunent, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under aIl inswrance golicies covering the Progerty, insofaz as such rights are applicable to the coverage of the Property. Lender may use the �n�,ran� p�$ either to repair or restore the Progerty or to gay amounts unpaid under the Note or this Security 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 execurion of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of accupancy, unless Iznder otherwise agre�s in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which aze beyond Bonower's control. 7. Preserv�tion, Maintenance and Protection of the Property; lnspections. Borrower shall not destroy, dacnage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Bonower is residing in the Property, Bonower shall maintain the Property in order to prevent the Pro�rty from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not econoxnically feasible, Bonower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be resgonsible for repairing or restoring the Property only if Lender has released procee�s for such purposes. Lender may disburse proceeds NEBRASKA-S1t�gle Famlly-FanNe Mee/Freddfe Mac UNIFORM INSTRUMEN7 VMP � Wolters Kluwer Financial Servfces Form 3028 1/Ot VMPB(N�► (110b! Page 7 of 17 '"s � .� a ,