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201107�6�
<br />All insurance policies required by Lendez 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 />and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If
<br />Lender requires, Bonower shall pzomptly give to Lender all receipts of paid premiums and renewal notices.
<br />If Bonower obtains any form of insurance covezage, not otherwise required by Lender, for damage to, or
<br />destruction of, the Property, such policy shall include a standazd mortgage clause and shall name Lender as
<br />mortgagee and/or as an additional loss pay�.
<br />In the event of loss, Borrower sha11 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 Borrower 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 Property, if the restoration or repair is economically feasible and
<br />Lender's s�uzity is not lessened. During such repair and restorarion period, Lender shall have the right to
<br />hold such insurance proceeds until Lender has had an opporninity to inspect such Property to ensure the
<br />work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken
<br />promptly. Lender may disburse proc.eeds for the repairs and restoration in a single payment or in a series of
<br />progress payments as the work is completefl. 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 Bortower any
<br />interest or earnings on such proceeds. Fe�s for public adjusters, or other third parties, retained by Borrower
<br />shall not be paid out of the insurance proceeds and sha11 be the sole obligarion of Bonower. If the restorarion
<br />or repair is not economically feasible or Lender's security would be lessened, the +ncnran� proceeds shall be
<br />' applied to the sums secured by this Security Instru,mment, whether or ttot then due, with the excess, if any,
<br />paid to Borrower. Such insurance proceeds shall be applierl in the order provided for in Section 2.
<br />If Bonower abandons the Property, Lender may fi1e, negoriate and settle any available insurance claim and
<br />related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance
<br />cazrier has offered to settle a claim, then Lender may negoriate 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 Secrion 22 or
<br />othexwise, Borrower hereby assigns to Lender (a) Bonower's rights to any �n�rance proc,e�ds in an amount
<br />not to exc�d the amounts unpaid under the Note or this Security Instrument, and (b) any other of
<br />Bonower's rights (other than the right to any refund of unearned premiums paid by Bonower) under all
<br />insurance golicies covering the Property, insofar as such rights are applicable to the coverage of the
<br />Property. Lender may use the �n�,,,�„� p 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 Borrower's principat residence
<br />within 60 days after the execution of this Se�uriry Instrument and shall continue to occupy the Prop�rty as
<br />Bonower's principal residence for at least one yeat after the date of occupancy, unless Lender otherwise
<br />agrces in writing, which consent shall not be unreasonably witl�held, or unless extenuating circumstances
<br />exist which are beyond Bonower's control.
<br />7. Preservation, Maintenence and Protection of the Property; Inspections. Borrower shall not destroy,
<br />damage or impair the Progerty, 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 />�ction 5 that repair or restoration is not economically feasible, Bonower shall promptly repair the Property
<br />if damaged to avoid further deteriozation or damage. If insurance or condemnation proceeds aze paid in
<br />conne.crion with damage to, or the taking of, the Property, Borrower shall be resgonsible for repairing or
<br />restoring the Property only if Lender has releaseri proceeds for such purposes. Lender may disburse proc�eeds
<br />NEBRASKA-Single Family-Fannie MaelFreddfe Mac UNIFORM INSTRUMENT
<br />VMP 0
<br />Wolters Kluwer Financial Servicea
<br />Form 3028 1 /01
<br />VMPB(NE) (t i OS)
<br />Page 7 of 17
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