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20110�768
<br />All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to
<br />disapprove such policies, sha11 include a standard mortgage clause, and shall name Lender as mortgagee
<br />and/or as an addirional loss payee. Lender shall have the right to hold the policies and renewal certificates. If
<br />Lender requires, Bonower shall promptly give to Lender all receipts of paid premiums and renewal notices.
<br />If Bonower obtains any form of insurance coverage, not otherwise required by I.ender, for damage to, or
<br />destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as
<br />mortgagee andJor as an additional loss payee.
<br />In the event of loss, Bonower shall give prompt norice to the insurance camer and Lender. Lender may
<br />make praof of loss if not made promptly by Bonower. Unless Lender and Bonower otherwise agr� in
<br />writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be
<br />applied to restorarion or repair of the Property, if the restorarion or repair is economically feasible and
<br />I.ender's security is not lessened. During such repair and restorarion period, Lender shall have the right to
<br />hold such insurance procceds until Lender has had an opportunity to inspect such Properly to ensure the
<br />work has been completed to Lender's satisfaction, provided that such inspecrion shall be undertaken
<br />promptly. Lender 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 agr�ment is made in writing or Applicable Law
<br />requires interest to be paid on such insurance proceeds, Lender shall not be requirefl 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 procceds and shall be the sole obligarion of Bonower. If the restoration
<br />or repair is not economically feasible or Lender's security would be lessened, the insurance proce,eds 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 Borrower. Such insurance procee�is shall be applied in the order provided for in Section 2.
<br />If Bonower abandons the Property, Lender may file, negotiate and settle any available insurance claim and
<br />related matters. If Borrower does not respond within 30 days to a norice from Lender that the in.c��nce
<br />carrier has offered 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 Property under S�rion 22 or
<br />otherwise, Bonower hereby assigns to Lender (a) Bonower's rights to any insurance proceeds in an amount
<br />not to excee� the amounts unpaid under the Note or ttris 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 all
<br />in�,��nce policies covering the Property, insofaz as such riglats are applicable to the covera.ge of the
<br />Progeriy. Lender may use the in�,�rance procceds either to repair or restore the Property or to pay amounts
<br />unpaid under the Note or this Security Instrument, whether or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Bonower's principal residence
<br />within 60 days after the execution of tlus Se,curity Insmiment and shall continue to occupy the Property as
<br />Bonower's principal residence for at least one year after the date of occupancy, unless Lender otherwise
<br />agr� in writing, which consent shall not be unreasona.bly withheld, or unless extenuating circumstanc�s
<br />exist which aze beyond Bonower's control.
<br />7. Preservafion, 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 Properly, Borrower shall maintain the Properiy in order to prevent the'
<br />Property from deteriorating or d�reasing in value due to its condition. Unless it is determined pursuant to
<br />S�tion 5 that repair or restorarion is not economically feasible, Bonower shall promptly repair the Properiy
<br />if damaged to avoid further deterioration or damage. If insurance or condemnation procee�s aze paid in
<br />connection with damage to, or the taking of, the Property, Bonower shall be responsible for repairing or
<br />restoring the Property only if Lender has released procseds for such purposes. Lender may disburse procee�s
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UfViFORM INSTRUMENT
<br />VMP �
<br />Wokers Kluwer Financlal Services
<br />Form 3028 1/01
<br />VMP6(NE) (1105)
<br />Page 7 of 17
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