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<br />All insurance policies required by I.ender 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 />andlor as an additional loss pay�. T.,ender shall have 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 Bonower obtains any form of insurance coverage, not otherwise req2zired by Lender, for damage to, or
<br />destrucrion of, the Property, such policy shall include a standard mortgage clause and shall name Lender as
<br />mortgagee andJor as an addirional 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 Properiy, if the restoration or repair is economically feasible and
<br />Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to
<br />hold such insurance proceefls until Lender has had an opportunity to inspect such Property to ensure the
<br />work has been completed to Lender's sa.tisfaction, provided that such inspection shall be undertaken
<br />promptly. I,ender may disburse proceeds 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 proceeds, Lender shall not be required to pay Bonower 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 obligarion of Borrower. If the restoration
<br />or repair is not economically feasible or Lender's security would be Iessened, the insurance proceeds shall be
<br />applied to the sums secured by this Security Insmiment, whether or not then due, with the excess, if any,
<br />paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2.
<br />If Borrower abandons the Property, I,ender may file, negoriate and settle any available inc„rance claim and
<br />related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance
<br />carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period wil]
<br />begin when the notice is given. In either event, or if Lender acquires the Property under 5�tion 22 or
<br />otherwise, Bonower hereby assigns to Lender (a) Borrower's rights to any insurance procceds in an amount
<br />not to exceed the amounts unpaid under the Note or tlus Security Instrument, and (b) any other of
<br />Borrower's rights (other than the right to any refund of uneamed premiums paid by Bonower) under aIl
<br />insurance policies covering the Property, insofaz as such rights aze applicable to the coverage of the
<br />Prop�rty. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts
<br />unpaid under the Note or this S�urity Instrument, whether or not then due.
<br />6. Occupancy. Borrowar shall occupy, establish, and use the Property as Borrower's principal residence
<br />within 60 days after the execution of this Securiry Instrument and shall continue to occupy the Property as
<br />�rrower's principal �idence for at least one year after the date of occupancy, unless Lender otherwise
<br />agr� in writing, whac� consent shall not be unreasonably withheld, or unless extenuating circumstanc�
<br />e�st which ue beyond Bonower's control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Bonower shall not destroy,
<br />damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether
<br />or not Bonower is residing in the Property, Borrower shall maintain the Properly in order to prevent the
<br />Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to
<br />Se�tion 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property
<br />if damaged to avoid fiirther deterioration or damage. If insurance or condemnarion proc�ds are paid in
<br />connection with damage to, or the taking of, the Ptoperry, Bonower shall Ue responsible for repairing or
<br />restoring the Property only if Lender has released proce�is for such purposes. Lender may disburse proceeds
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01
<br />VMP p VMP6(NE) f1105)
<br />Wolters Kluwer Financial Services Page 7 of 17
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