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201107882
<br /> All ii�surance policies required by Lender and renewals of such polioias shall be subject Yo Lender's right to
<br /> disap�rove such policies, shall inchide a standard mortgage clause, and shall name Lender ns mortgagee
<br /> a�idlor as an addifion�l loss payee. Lender shall have t(7c riglit Yo hold the policies and renewal ce�tificafes, lf
<br /> Lender requires, Boirowar shall promptly give Lo Lender all receipts of paid premiums and renewal notices.
<br /> If Bono�ver obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or
<br /> destruction of, tlie Property, such polioy shRll include a standa�d morfgaga clause and shall natme Lender as
<br /> mortgagee and/or as an additional loss payee.
<br /> fii[lic ovont of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lendar may
<br /> make proof of loss if not made promptly by 13orrower. Unless Lender and Borrower otherwise agree in
<br /> writing, any insuranee proceeds, whather or not the underlying ineuranca was required by Lender, shall be
<br /> a�plied to restoration or repair of the Property, if the restoraEion or repair is economically feasible and
<br /> Lander's semtrity is not lessened. Duriug such repair and restoration period, Lendar shall have the right to
<br /> hold such insurauce proceeds unt'il Lendsr has had an opportunity to inspect such Pro�aerty to ensure the
<br /> work has bee�i com�leted'fo Lender's satisfaetion, provided that such inspection shall be undertakan
<br /> promptly, Lender may disburae proeeeds for the repalrs and restoration in a single payment or in a serias of
<br /> prugress payments as the worl< is oompleted. Uiilass an agreement is made iu writing or A�plicablo Law
<br /> requires interesC to ba paid on such i.nsurance proceeds, Lender shall not be required to pay Borrower any
<br /> interest or e�unings on sucfi piroeeeds: Fees for public adjusters, or other Chird parties, retuined by Bonower
<br /> shall not bo paid out of the insuranca proceeds and shall be the sole obligation of Eocrower. If Y1ae restoration
<br /> or repair is not economically feasible or Lcuder's security would be lessened, the hisurauce proeeeds shall be
<br /> applied to the sums secueed by this Security Instrument, whether or uot then duo, with the excess, iF any,
<br /> paid to Borrowee. Such insurance prooeeda sha11 ba applied in the order pmvided for in Seotion 2.
<br /> Tf Borrower abandons the Yroperty, Lender may file, nagotiate and setClo any available insurance claim and
<br /> related matters. lf Borrower does not respond withui 30 days to a notica from Lender that the insura�ica
<br /> carrior l�as affered to settle a claun, Uien Lender may ncgotiate and settle the claim. The 30-day period will
<br /> begin when the notice is given, Iu either evenf, or if Lenderacquires the Property undcr Section 22 or
<br /> otherwise, Borrower hereby assigns tz� Lender(a)Borrower's rights to any 'v�sLirance proceeds in an amount
<br /> not to exceed the amounts unpaid under the Note or this Security Instrument, and(b) any other of
<br /> Bon•ower's rights (oYher than the right to any re£und of tmearned premiums paid by Hoirower)under all
<br /> insura�ice polioies oovering the Property, insofar ns such rights are applicable to the coveraga of the _
<br /> Properry. Lendor may use the insuranca proceeds eifhcr to re}�air or restore tha Property or to pay amounts
<br /> Lmpaid under ehe Note or this Sacurity Instrument, whethar or not than due.
<br /> 8. Occupancy. Borrower shall ocaupy, establish, aud use the Property as Borrower's prinolpal residenoe
<br /> within 60 days after the axecutian oYthis Socurity Instrument¢nd shall�ontinue lo ocenpy the P�roperty as
<br /> Borrower's principal residence for at least one year nfter the date oP occuF�ancy, unless Lender otliarw3se
<br /> agrees in writing, �vhicl�consont shall not be um�easonab[y withheld, or unless extenuating circumsEances
<br /> exist wliich ato beyond Borrower's control.
<br /> 7. Preservation, Maintenance and Protection of the Property; Inspections. Bonower shall naC destroy,
<br /> damage or impair the Property, allow tlia Proper6y to deterioraCe or oommit waste on tha Prpperty. Whetlier
<br /> or not Borrower is residing ni tlie Proporty, Borrower shall manrtain the Properry ln order to prauent the
<br /> Property fi�om detarioraEing �r deoreasing in value dua to its eoi�dition.Unless it is datermined pursuant ta
<br /> Seotion S tliaC repair or restorntion is not economically feasible, Borrower shall promptly repair the Property
<br /> if damaged W avoid furCher detarioiation or damage, If uisi�rnnce or condemnaCion proneeds are paid in
<br /> connection with damage to, or the Cal<ing of, the Prope��ty, Borrower shall be responsible for repairing or
<br /> restoring the Propeity only if Lender has released proceeds Por snoh purposes. Lendar may disbursa proceeds
<br /> 231t9A
<br /> NEBRASKA-Single Family-Fennie Mee/Fretltlle Mec UNIFORM MSTRUMENT Form 3020 1101
<br /> �yMp VMP6(N�f1705)
<br /> Wolter�a KIUW ar FlnenGel 5arvices � Page]of 1]
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