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201i0810G
<br />adldittonal loss payee. Lender sha1T have the right ico hold �he polic�s and renewa�l certificaces, If Lender requires,
<br />Borcower sJhalfl promptly glve to Lender all receipes of paid premiums ac�d repewaC nott4cces. If �arrower obtains any
<br />foran of insura�tce coverag�, not ot�srwise c�equired by I.ender, for damage Yo, or destrttction of, the Property, sucla
<br />poUcy sha�l Include a standarc� mortgage clause and sha�l name L,endes as mo�tgagee aacllor as an additiona� loss
<br />�aY�• '
<br />In the event of loss, Borrower shall giva. pramgt notice to the insurance cazrier and Lender. Lendea anay nnake
<br />pcaaf of loss if not nuade promptly by Borrawer, Uniless �.ender aad Borrawer ottterwise agree iu writing, any
<br />insurance proceeds, wkether or uot the underIying insurance was required by Lender, shall be applied Co restoza�aion
<br />ur repair o£ the Property, itf' tt�e restaration or repa.ir is economical2y feasible and Lender' s securiry is not lessened
<br />Daring such repair and restorafiion period, Lender shall•have the right to hold such insurance proceeda until LendBr
<br />has had an opporcu�nity to inspect such Property to ensure the work has been compieted to I.eader's satis€action,
<br />pcovided that such iu�spection s�all be undertakeu pramptly. Lenc�er may disburse praceeds for the repairs arad
<br />restaration in a single paymenc or in a series of progress paym�nts as the work is completed. U�less an agreement
<br />is made In writing or Applieabie Law requires interest to be paic� an such insuzance proceeds. Le�der sha�l not be
<br />required to pay Borrawer any interest ar earuings an such proceeds. �ees for pablic adjusters, �r other third parties,
<br />retaiaed by Bocrower shall not be paaid out af rhe ansurance proceeds and shall be the soIe obligarion Qf Borrower.
<br />If the restoration or repair is not economically feasible or Lender's secitrity would be lessened, the iasuranceps�eeds
<br />shall be applied to the sums secured by th'ss Security J[�sirument, whether or not then due, with the excess, if a�y, paid
<br />to Borrower. Such insurance proceeds shall he applied in the order provided for in Section 2.
<br />If Borrawer abandons the Property, I.ende� map file, negotiate and seftJe any availab�e insurance claim and
<br />relattedd matters. Tf �arrower does not res�nd within 30 days to a notice from Lender thai ihe insurance carrier has
<br />offered to settle a claim, ihen Lender ma� negotiate and settle the cIaim. The 30-day perind wi1� begin when the
<br />notice is given. In either event, or if L.ender acquires the Property under Section 22 or otherwise, Borrower hereby
<br />assigns to Lender (a) Barrower's rights to any ins�rance proceeds in an amounY �ot to exceed the amounts unpaid
<br />under the Note or this Securi#y Instrument, and (6} any other of �arrower's righCS {other than the right to any refund
<br />of unearned premiums paid by Bonower? under all insurance policies cavering t�e �'roperry, insofaz as such rights
<br />are applzr,able to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the
<br />Property ar to pay amounts unpaid under the Note or this Security Tnstr��men�, whether or not then due.
<br />6. Occnpancy. Borrawer shall aeeupy, establish, and use the I'roperty as Borrowe�'s principat residence
<br />within 60 daqs after the executian of this Security Iastrument and sha11 continus to �eupy the Property as Banovler's
<br />principal residence for at least oae year aft�x th� date of occupancy, unless J.ender ocherwise agrees in writing, which
<br />consent shail nae be unreasonably withhelc�, ar ttnless extenuacing cirewnstances exist which are beyond Bonower's
<br />controL
<br />7. Preservation, Maingenante and Proteccuttou of the Praperty; Ins�ections. Borrower shalt not destroy,
<br />damage ar impair ttee Property, a11ow the Prop�rty to deteriorate or commit waste an che Praperty. Whether or mot
<br />Borrower is residing in the Property. $orroweF shalI maintain the Property in arder ea prevent the Property from
<br />deteriorating or deereasing in value duc to its condition Uriiess it is determined pursuant to Section 5 that repaic or
<br />restoration is not economically feasible, Borrower shai[ prompt3y rapair the Properry if damaged to avoid further
<br />deterioration or damage. ff insvtance ar condemnation praceeds are paid in connection with damage to, or the taking
<br />of, the Pro�rty, Borrower shall be responsi'ble far repair4ng or restoring the Propezey anly if I.ender has releas�ci
<br />proceeds for such purposes. Lender may disburse proceeds for the repairs and reseoration in a single payment or in
<br />a series of progress payments as the work is cornpleted. If the insurance or condennnation proceeds are not suf�cient
<br />ta repair or restore the Property, Borrower is not relieved of Borrower's obligatian for the cornpletion of such repair
<br />or restoration.
<br />Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause,
<br />Lender rnay inspect the interior of tFie improvements on the Property. Lender shal} give Borrawer nodce at the time
<br />of or prior to such an interior inspectian specifying such reasonable cause.
<br />8. Borrower's Laan Apptica�fou. Borrower shatl be in default if, during tlie d.,oan applicaCian proceas,
<br />Borxower or ar�y persons oi entitaes acting at the direction of Ba�rower or with Borrower' s Irnow�edge or consent gave
<br />matecially false, mi.sleading, or inaccurata informaCion or statements to Lender {or failed to provide Lender with
<br />material informatian} in connection with the Loan. Material representations incIude, but are not limited ta,
<br />representations concerning Borrower's occnpancy of the Property as &orrower's principal residence.
<br />9. �rotectian of Lender's lnterest in the Properfy and 123ghts Under this Security Instrumen�. Tf (a)
<br />Borrower fails to perform the covenants and agreements contained in this Securiry Instrument, {b} there is a tegal
<br />pz'oceeding t�at might significantly affect L.ender's interest in ehe Property andlor rights under tlris Security Instrument
<br />(such as a proceecling in bantainptcy, probate, for condemnaEian or forf�ihue, for enforcement af a lien which map
<br />attain priarity aver this Securiry Ic�strument or to enforce �aws or rsgulations), or {e) Borrower has aban�onec� the
<br />Propaxty. ehe�a I.ender may do aad pay Por whatever is reasonable pz appropriate to protece I.ender's interest in the
<br />Property and cights untier this Security It�serament, including protecting andlor assessing the value of the Praperty,
<br />and securing andlor rapairing the pcoperty. �,ender's actions can °vicPude, but azenot limited to: (a) paying any swns
<br />secured by a Iien which Jtias przority over this Security Instrcunent; (b} appearing in court; ana (c) paying reasonable
<br />auorneys' fees ta protsct its ineerest in ihe Prop�Cy andlar righis under this Security Tnstrument, including its se�ured
<br />position in a banktuptcy proce�ding. Securing the Property includes, but is nat limited to, entering the Property to
<br />make rapairs, change locks, replace or boazd np doors and windows, drain water from pipes, eliminate building or
<br />other code violatians or dangerous conditions, and have utilities turned on or off. Although Lender may take actioa
<br />under this Sectiom 9, L,ender does not have to do so and is not under auy duty or obligation io do sa, it is agreed that
<br />Lender incurs no Iiabiliry for not tat�ng any or a]I actzons autharized under this Section 9.
<br />NEBRASKA—Single Famlly--Fannte Mae/Freddfe Mac UNIFOAM iNSTRUMENT - MERS DodHaglc
<br />Form 3028 1/01 Rage 5 oP 11 www.dormagic.c�om
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