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<br />addidonal loss payes. L�nder shall have the right to hold the policies and renewal cerCificates. I£ �nder requires,
<br />Borrower shall promptly give to L.ender alI receipts of paid premiums and renewal notices. If Borrower obi�ains any
<br />form of insurance coverage, not otherwise required by Lender, for damage to, or destm�crion of, the Properry, sucb
<br />policy shall include a standard mortgage clause and shall name I.endez as mortgage,e andlor as an additional loss
<br />payee.
<br />In. the event of loss, Borrower shall give pro�t notice to the insurance carrier and Lender. Lender may n�ake
<br />proof of loss if not made promp�ly by Borrower. Unless Lender and Ba�acower otherwise agree in writing, any
<br />inMiran� prpC�s, Whether or not the uuderlying insurance was required by Lender, shall be appli�. to restoration
<br />or repair of tl�e Property� if the restaratipn or repair is econ.amzcally feasible aud Lender's security is not tessened.
<br />During such repair and restoration period, T.ender sha1l have the right to hold such insura.nce proce�s until Lender
<br />has had an opporhinity to inspect such Property ta ensure the work has been completed to Lender`s satisfacCioa,
<br />pravide� that such inspecrion shall be undertaken pmmptly. Lender may disburse proceeds for the repairs and
<br />restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement
<br />is made in writing or AppLicabl.e Law requires interest ta be paid on such insurance proce.e�is, L�nder shall not be
<br />required to pay Borrower any interest or earnings oa suc�T. proceeds. Fees for public adjusters, ar ather third parties,
<br />retained by Borrower s}�all not be paid out of the inM�ranc� praceeds and shall be the sole obligation of Borrawer.
<br />If the restoraiion or zepair is not economicallq feasible or Lender's security vvould be lessened, the insurance proc,eeds
<br />shall be applied to the sums s�ured by this Security Tnatr+t+„�+r, whether or not then due, with the excess, if any, paid
<br />to Borrower. Such iuo.surance proc�eds shall be applied in. the order pravided for in Section 2.
<br />If Borrower abandons the Progerry, Lender may fi�le, negotiate and settle any available insiu�nce elaim and
<br />related Ynatters. If Borrower does not respond within 3d d.ays to a notice from I.snder that the insurance carrier has
<br />offered ta settle a claim�, then Lender may negotiate and settle the claim. The 30-day period will begin evhen the
<br />notice is given. Tn either event, or if Lender acquires the Property under Sectian 22 or otherwise, Borrower hereby
<br />assigns to Lender (a) Bozrower's righ.ts to any insurance proc�ds in an amouni not to exceed the amounts uugaid
<br />under the Note or this Security Instniment, and (b) any other of Borrower's rights (otb.er than the right to any ref�uid
<br />of unearned premiums paid by Borrawer} zznder a11 in�,ti,�nce policies covering the Properiy, insofar as such rights
<br />are applicable to the coverage of the Property. Lender may use the insuxance proceeds either to repair or restore the
<br />Properly or ta pay amounts unpaid under the Note or this Security Insuvment, whether or not then due.
<br />6. Occupancy. Borrower shall oc�upy, establish, and use the Properry as Barrower's priucipaI residence
<br />within 60 da.ys after t]ze e�ecution of this Security Tncr,,,me„r and shalf co�tinue to occt�py the Properiy as Boxxower's
<br />principal residence for at least one year after tIie date of occupancy, ualess Lender otherwise agreeg in writing, which
<br />consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's
<br />control.
<br />7. Preservation, Maintenanoe and Protectian oP t&�e Prope�rty; Inspec#ons. Borrowex shzll not destray,
<br />damage or impair the Property, allow the Property to deteriarate or commit waste on the Property. Whether ar not
<br />Borrower is residing in the Property, Borrower shall znaiut +n the Property in order to prevent the Property from
<br />deteriorating or decreasing in value due to its candition. Unless it is determined pursuant to Section 5 that repair or
<br />restoration is not economically feasible, Bonower shall prornpt�y repair the Property if damaged to avoid further
<br />deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking
<br />of, the Property, Borrower shall be responsible for repa'ring or restoring the Properry only if L�nder has release.d
<br />proceeds for such purposes. Lender may disburse proceeds for the repairs and restoratian in a single payment or in
<br />a series of progress payments as the work is compFeted. Tf the +n�,�rance or condemnation proceeds are not sufficient
<br />to repair or restore the Praperiy, Borrower is not relieved of Barrower's obligation for the completion of such repair
<br />or restoration.
<br />T.ender or its agent may make reasonable entries upon and iaspecrions of the �roperty. If it h�s re�asonable cause,
<br />Lender may inspect tbe i.ntazior of the impz�veznents on ttce �coperty. I,ender shall give Borrower notice at the time
<br />of or prior to such an interior inspecrion specifying such reasonabie cause.
<br />8. Borrower's Laan Application. Bonower shall be in default if, durin$ the Loan agplication process,
<br />Borrower or any persons or entities acting at the dir��ioa of Borrower or with Barrower's knowledge or consent gave
<br />materially false, misleading, or ina�curate informatian or statements to Lender (or fa�ed to provide L,�nder with
<br />material informaxion) in connection with the Loan.. Material representations i�o.clude, but axe nat limited to,
<br />repzesentatzons concezning Boxrowez's occupancy of the Pzo�rerty as Bozzower`s principal residence.
<br />9. Proteci�ton of Lender's Interest in the Property and Ttights Under this Security Instru�en� If (a)
<br />Bozrower fa31s to perform tk.e cov�nants ancl agreenaents contauaed. in this Security Insir�ent, (b) there is a Iegal
<br />procesding that might significantly affect Lender's interest ut the Pzoperty a�d/oc Tights undex tl�is Se�urily Tncrrnment
<br />{such as a pmceeding in banlcruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may
<br />attain priority ovez this Secunity Instrunaent or to ez�orce laws or regulations), or (c) Borrower has abandoned. the
<br />Fzoperty, then Lender may do an@ pay for whatever is reasonable or appropriate to protect T.ender's intexest in the
<br />Property and rights nuder this Security Ins �mer,r, including protecting and/or assessing the valae of the l�roperty,
<br />and securing andlor repairing the Property. I,ender's actions can include, but aze not Limited to: (a) paying any swms
<br />secured by a lien which Iaas priority over thzs Securaty Insmiment; (b} appParing in court; and (c) paying reasonable
<br />at�orneys' fe�s to protect its interest in the Property and/or rights under this Security Instrument, including its secuzed
<br />position in a bankruptcy proceeding. Securing the Prop�rrty includes, but is not limited to, e�Cezing the Properiy to
<br />make zegairs, change locks, replace ar boazd up doors and windows, drain water from pipes, eliminate building or
<br />other code violations or dangerous canditions, and have utilities turned on or off. Although Lender may take action
<br />under this Section 9, Lender does not have to do so and is not under any duty or obligation to do sa. It is agreed tbat
<br />I.ender incurs no liability for not taking any or all acdons authorized under this Section 9.
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<br />NEBRASKA--Single Famity—Fannie MeelFreddie Mac LlN1FORM INSTRUMENT - MERS p�
<br />Form 3028 9/01 Page b of 11 www,docmagic.com
<br />Ne3�8.mzd.m8
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