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<br />All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to
<br />disapprove such policies, shall include a staridard mortgage clause, and shall name Lender as mortgagee
<br />and/or as an additional loss payee. Lender 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 �n�,rar,� coverage, not otherwise required by Lender, for damage to, or
<br />destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as
<br />mortgagee and/or as an additional loss payee.
<br />In the event of loss, Borrower shall give prompt notice to the insurance canrier and Lender. Lender may
<br />make proof of loss if not made gromptly by Borrower. Unless Lender and Bonrower otherwise agree in
<br />writing, any insurance procceds, whether or not the underlying insurance was required by Lender, shall he
<br />applierl to restorarion or repair of the Property, 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 proceeds until L.ender has had an opportunity to insp�t such Property to ensure the
<br />work has been completed to I.ender`s satisfaction, provided that such inspection shall be undertaken
<br />promptly. Lender may disburse proceeds for the repairs and restorarion in a single payment or in a series of
<br />progress payments as ttze 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 �n�,�rar,� proceeds and shall be the sole obligation of Bonower. If the restoration
<br />or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be
<br />applied to the sums secure� by this Se,curity Instrument, whether or not then due, with the excess, if any,
<br />paid to Bonower. Such insurance proceeds shall be applied in the order provided for in Section 2.
<br />If Borrower abandons the Property, Lender may file, negoriate and settle any available in�„ran� claim and
<br />relatefl matters. If Bonower does not respond within 30 days to a norice from I.ender that the insurance
<br />carrier fias offered to settle a claim, then Lender may negotiate and settle the claim. The 30-tlay period will
<br />begin when the norice is given. In either event, or if Lender acquires the Property under Section 22 or
<br />otherwise, Borrower hereby assigns to Lender (a) Bonower's rights to any inc,�ran� praceeds in an amount
<br />not to exc.eed the amounts wnpaid under the Note or this Security Instrument, and (b) any other of
<br />Bonower's rights (other than tb.e right to any refund of unearned premiums paid by Borrower) under a11
<br />insurance policies covering the Property, insofar as such rights are applicable to the coverage of the
<br />Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts
<br />unpaid under the RTote or this Securiry Instnunent, whether or not�hen due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence
<br />within 60 days after the execution of this Security Instrument and shall cantinue to oc;cupy the Property as
<br />Bonower'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 circumstances
<br />exist which are beyond Bonower's control.
<br />7. Preservation, Maintenance and Protection of the Property; lnspeations. Borrower 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, Bonower shall maintain the Property in order to prevent the
<br />Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to
<br />Section 5 that repair or restoration is not economically feasible, Bonower shall promptly repair the Property
<br />if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds aze paid in
<br />connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or
<br />restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds
<br />NEBAASKA-Single Family-Fannle Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01
<br />V � P � VMPBiNE� (7106►
<br />Woltera Kluwer Financtal Services Page 7 of 77
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