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201108174
<br /> A11 instirance policies requii•ed by Lender and rei�ewals of such polieies s1ia11 be subject to Lender's riglzt�o
<br /> c�isapprove such polieies, shall inchide a staneiard�noitglge clause, and shall name T,ander as mortgagee
<br /> and/or as an adc�iEional loss payee. Lender sha11 have the right to hold the polioies and rei�ewal�ertificates. If
<br /> Lender rec�ttires, Borrower sha11 proinptly give to Lender all receipts of paid premiums and rel�iewal notiees,
<br /> If Borrower obtains any form oI'insurance coverage, not otllerwise required by Lender, for damage to, or
<br /> des'truction of, the Proparty, such policy shall ii�clude 1 staudard mortgage clause and sl�all na�i7e Lenc�er as
<br /> moi•tgagee and/or as an adc�itional loss payee.
<br /> In t11e event oi'loss, Borrower sh�ll give pronzpt notice to the insurance carriei•and Lender. Lender may
<br /> inalce proof of loss if not made promptly by Borrower. Unless Lender and Boi�rowei•otllerwise agree in
<br /> writing, any insurance proceeds, whether or not the Luideilying insura�ice was requirec�by Lender, shall be
<br /> ap�lied ta restoraiion or rapair of the Property, if the restoration or repair is econoinically feasible and
<br /> Lender's security is not lessened. During such repair anci restoration period, Lender shall have the right tio
<br /> hold such iilsurai7ce proceeds until Lender has had�n opportunity to inspect such Property to ensure the
<br /> worlc 11as been completed to Lender's satisfaction, provided that sucli irlspection sha11 be ttndertal�en
<br /> proinptly. Lender inay disburse proceeds for the repairs ar�d restoratiori in a sin�;le payinent or in a series of
<br /> j�rogress payments as the wor1C is completed. Unless an agreement is inade in writiiig or Applicable Z,aw
<br /> rec�uires interest to Ue paid on stich insurance proceeds, Lender shall ilot be rec�uired to pay Borrower any
<br /> intarest or earnings on such proceeds. Fees for public adjugters, or otl7er thirci parties, retained by Borrower
<br /> shall not be p�id out of the insu�a�ICe proceeds and shall be the sale obligation of Borrower. If the r�stora'tion
<br /> or repair is not economically t'easible or Lender's security would be lessened, the insiu�ance proceeds shall be
<br /> applied to t11e suins secureci t�y this Security Instrument, whether or not then due, with the excess, if auy,
<br /> paid to Borrower. SLich ii7sLtrance proceecis shall be appliad in the order provided£or in Section 2.
<br /> If Borrower abaudons the Property, Lender may file, negotiate and settla az�y avail�Ule insur�ince claiin and
<br /> related il��tters, Tf Borrower does not respond within 30 days to a notice froin Lencier that the insuranae
<br /> earrier 1�1s oFfered to setfle a claim, then Leizcler inay negotiate�11d settle tl�e claiin. The 30-d�y period wi11
<br /> begin when the natice is given. In either event, or if Lender acquires the Property under Section 22 or
<br /> otherwise, Borrower hereby assigns to Lender(a)Borrower's rights to aiiy insurance proceeds in an aiizount
<br /> not to exceed the amounts unpaid under the Note or this �ecurity Tnstrurnent, ancl(b) asry other o£
<br /> Borrower's rights(other than the right to any i•efund of uneariied�remiums p�id Uy Borrower)under�11
<br /> insut'a��ce policies covering the�T'roperty, ulsofar as such 1�ights are applicable to the covera�ge of the
<br /> 1'roperty. Lender m1y use the instirance proceeds either to repair or restore the Property or to pay asnounts
<br /> tulpaid under the Note or tlus Sectuity Instrtiunent, whether or not t1�en d�ie.
<br /> 6. OcCUparlcy. Borrower shall occupy, estaUlish, and use the Property as Borrower's principal residence
<br /> within 60 days after�lie ex�eculion of this Seeurity Tnstruinent and sha�ll contulue�to occupy tlie 1'roperty as
<br /> Borrower's principal residence for at le�st one yeai�after tlie date of occupancy, unless Lendei•otherwise
<br /> �grees in writing, which consent shall not Ue unreasonaUly witl�lield, or unless extenuating circumstaiices
<br /> exist wl�ich are beyond Borrower's conti•ol,
<br /> 7. Preservation, Maintenance and Protection of 4he Property; Inspections. Borrower shall��ot destroy,
<br /> darnage or implir the Proper�y, �llow the Property to deteriorate oi•commit waste on the Property, Whetlier
<br /> o�•not Borrower is residing in t11e Property, Borrower shall maintain the Property in orc�er to prevent t11e
<br /> Property f��om deterrorating or decreasing in valtte due to its condition, Unless it is determined pursuant to
<br /> Section 5 that repair or restoration is nol econotnically f�asiUle, Borrower shall promptly r�pair the Property
<br /> if damaged to avoid fixi'ther deterioration or dasnage. If instiu•azlee or conelemnation proceeds as•e paicl in
<br /> connection with dasnage to, or�he talcing of, the Property, Borrower shall be responsible for repa.iril�g or
<br /> restoring the Property only if Lender h�s released proceeds for such�urposes. Lender may disUurse proceeds
<br /> 231201
<br /> NCBRASKA-Single Famlly-Fannie Mae/Freddie Mac UNIFORM INS7RUM ENT Form 3028 1I01
<br /> VMP OO VMP6(NE)(1105)
<br /> Wolters Kluwer Financial Services Page 7 of 17
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