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2011081�5
<br />proceeds either to repair or restore the Properry or to pay amounts unpaid under the Note or this Security
<br />Inshument, whether or not then due.
<br />6. Occupancy. Borrower shall �cupy, establish, and use the Property as Boirower's principal
<br />residence within 6Q days after the execution of this Security Iustrument and sha11 cantwue to accupy the Property
<br />as Borcower's priacipal residence for at least one year after the date of occuQancy, ualess Lender othere�rise agrees
<br />in writing, which consent shall not be unreasoaably withheld, or tmless extenuating circu�tances exist which are
<br />beyond Borrower's control.
<br />7. Preservation, Maintenance and Protection of tbe Pro�erty; Inspections. Borrower shall not
<br />destroy, damage or impair the Property, allow the Praperty to detenarate or commit waste on the Property.
<br />Whether or not Borrower is residing in the Property, Borro�ver shall maintain the Property in order to prevent the
<br />Property from deteriorating or decreasing in value due to its condirion. Unless it is determined pursuant to
<br />S�t�on 5 tbat repair or restoratian is not economically feasible, Borrower shall promptly repair the Praperty if
<br />ed to avoid ituther deterioration ar dan�age. If insuranc� or conden�nation proceeds are gaid ia connection
<br />with ge to, or the taking of, the Property, Borrowe,r shall be resgonsible for repairing or restoring the
<br />Property only if Lender has releas� procceds for such purposes. Leader may disburse proceeds for the repairs
<br />and restoration in a single pay�nt or ut a series ofprogress payments as the work is cemipleted. If the insurance
<br />or condemnation proceeds are aot sufficient to repau or restore the Properiy, Borrower is not relieved of
<br />Borrower's abligahon far the cou�letion of such repair or restaration.
<br />Lender or its agent may make reasanable entries upon and inspections of the Property. If it has
<br />rea�nable cause, Lender umy inspect the interior of the improvements on the Property. Lender shall give
<br />Borrower notice at the time of or pnor to such an interior inspechon specifyiag such reasonable cause.
<br />8. Borrower's Loan Applicataon. Borrower shall be in default i� during the Loan apglication
<br />proc�s, Borrower or any persons or enritie.s acting at the duection of Barrower or with Borrower's knowledge ot
<br />consent gave �terially false, misleading, or inaccurate information or statements to Leade� (or failed to provide
<br />Lender with material informatioa} in conn�tion with the Loan. Material representations mclude, but are not
<br />limited to, representa�ions concerning Barrower's accup�cy af the Praperty as Barrower's principal residence.
<br />9. Frotection of Lender's Interest in the PropeMy and Rights Under this Securily Inst►vment If
<br />(a) Borrower fails to perform the covenants and agreements contained m this Security Iastrument, (b) there is a
<br />legal proceeding that might significantly affect Lender's interest in the I'rogerty and/or rights under ti�is S�urity
<br />Instrument (such as a proceediag in bankruptcy, probate, for condemnation or forfeiture, for enforcex�nt of a lien
<br />which may attain prionty over th�s Secunty Instrument or to enforce laws or regulatians), or (c} Borrower has
<br />abandoned the Property, then Lender �y do and pay for whatever is reasonable or appropriate to protect
<br />Lender's iaterest in the Progerty and rights �der this �urity Insiaument, including protecting andlor as�essing
<br />the value of the Pro�rty, and securing and/or repairing the Property. Lender's actioas can include, but are not
<br />limited to: (a) paying any sums secured by a lien which has priority over this Security Insliv�nent; (b) appeariag
<br />in court; and (c) paying r�sonable attomeys' fees to protect iis interest in the Property andlrn rights under this
<br />S�urity Instrument, mcluding its secured position in a bankruptcy proceeding_ Secunng the Prog�ty mclndes,
<br />but is not limit�l to, entering the Property to make repairs, change l�ks, replace or board up doors and windows,
<br />drain water from pipes, eliminate building or other code violations or da.ngerous conditions, and have utilities
<br />turned on or off. Although Lender u�y take action uader t�is Section 9, Leader does not have to da so and is not
<br />under any duty or obligation to do so. It is agreed that Lender incurs no lia6ility for not taking any ar all actions
<br />authorized under this Section 9.
<br />Any a�unts disburs�;d by Lender under this Section 9 shall become additional debt of Banower
<br />secured by this Security Instrument. These amounts shall beaz interest at the Note rate from the date of
<br />disbursemeat aad shall be payable, with such interest, upon notice from Lender to Borrower requesting payment.
<br />If this Security tastrument is on a leasehold, Borrower sball camply with all the provisions of the lease.
<br />If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge tmless Lender agrees
<br />to the merger in writing.
<br />10. Martgage Insurance. If Lender required Mortgage Insurance as a condition of inaking the
<br />Loan, Bonower sball pay the premiums required to maintam the Mortgage Insurance in effect. I� for any reason,
<br />the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer tbat
<br />previously provided such insurance and Borrower was requ�ed to make separately designated payments toward
<br />the �remiums for Mortgage Insurance, Borrower shall pay the premiums ired to obtain coverage substantially
<br />eqiuvalent to the Mortgage Insurance previously in effect, at a cost �bstantially equivalent to the cost to
<br />Borrower of the Mortgage Insurance previously in effect, from an altemate mortgage msurer sele�ted by Lender.
<br />If substantially equivalent Mortgage Insuraace covera�e is aot available, Borrower shall continue to pay to
<br />Lender the amount of the separately de.signated pay�nts that were due when the insurance coverage ceased to be
<br />in effect I.ender will accept, use and retain these pay�ats as a non-refunda6le loss reserve in lieu af Mart�a�e
<br />Insurance_ Such loss reserve sha11 be non-refundable, notwithstanding the fact that the Loan is ultimatelypaad m
<br />full, and Lender shall not be required to pay Borrower any inter�t or earnings on such lass reserve. Lender can
<br />no longer require loss reserve payments if Mortgage Ivsurance caverage (in the amount and for the period that
<br />Lender requires) provid� by an iasurer selected 6y I,euckr again beco�s available, is obtained, and Lender
<br />requires separately designated payments toward the pr�p�m� for Mortgage Insurance. If Lender required
<br />Martgage Insuu�aanee as a eanditian of inalcing the I.aan aad Borrower was required to �tce separately designated
<br />�yments toward the premiums for Mortgage Insurance, Bonower sha11 pay the premiums r�wred to maintain
<br />Mortgage Insurance in effe�t, or to provide a norrrefuadable ioss reserve, unt�l Lender's requirement for
<br />Mortgage Insurance ends in accordance with an�r written agree�ut between Borrower and I,enderproviding for
<br />such termination or until termination is required by Applicable Law_ Nothing in this S�tion 10 affe�ts
<br />Borrower's obligation to pay interest at the rate provlded m the Note.
<br />Mortgage Insurance reiinburses Lender (or any entity that purchases the Note) for certain losses it umy
<br />incur if Borrower does not repay the Loan as agreed. Borrower is not a paity to the Mortgage Insueance.
<br />Mortgage Insurers evaluate their total risk on all such insurance in force from time to time, and may
<br />enter into agreements with other partieg that share or �dify their risk, or reduce losses. These agre�uients are on
<br />teims and conditions that are sarisfactory to the �rtgage insurer and the other party (or parties) to these
<br />agreemeats_ These agreements may require the mortgage insurer ta �e gayinents using any source of funds
<br />that the mortgage insurer may have available {which may include funds obtained from Mortgage Insurance
<br />premiums)-
<br />As a r�ult of these ag��nts, Lender, any purchaser of the aote, another insurer, any reiasurer, any
<br />other entity, or affiliate of any ofthe foregoing, u�y receive (direcdy or indirectly) anmunts that derive from {or
<br />might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or
<br />NEBRASKA—Singie Faenily—Faanie Mae/Freddie Mac LTNIFQRM INSTRUMENT Modi�ed Form 3Q28 ll01 (page S of 9 pages)
<br />220SO.CV (8f11) 141625 Creative TLinldng, Inc.
<br />GOTO(002c7e7d)
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