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<br />All insurance policies required by Lender and renewals of such policies shall be subject to I,ender's right to
<br />disapprove such policies, shall include a standazd mortgage clause, and shall name Lender as mortgag�
<br />and/or as an addirional loss payee. Lender shall have the right to hold the policies and renewai certificates. If
<br />L,ender requires, Borrower shall promptly give to Lender aI1 receipts of paid premiums and renewal notices.
<br />If Bonower obtains any form of insurance coverage, not otherwise required by Iznder, for damage to, or
<br />destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as
<br />mortgagee and/or as an additional loss payee.
<br />In the event of loss, Borrower shall give prompt notice to the insurance cazrier and Lender. Lender may
<br />make proof of loss if not made promptly by Borrower. Unless Lendex and Borrower otherwise agree in
<br />writing, any insurance proc.eeds, whether or not the underlying insurance was required by Lender, shall be
<br />applied to restoration or zepair of the Property, if the restoration or repair is econoinically feasible and
<br />Lender's s�urity is not lessened. During such repair and restoration period, Lender shall have the right to
<br />hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the
<br />work has been completed to Lender's satisfaction, provided that such inspe�tion shall be undertaken
<br />promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of
<br />progzess payments as the work is completed. 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 Bonower any
<br />interest or earnings on such proceeds. Fces for public adjusters, or other third parties, retained by Borrower
<br />shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restora.tion
<br />or repair is not economically feasible or Lender's security would be lessened, the insurance procceds shall he
<br />applied to the sums secured by this S�urity Instrument, whether or not then due, with the exaess, if any,
<br />paid to Bonower. Such insurance proceeds shall be applied in the order provided for in Section 2.
<br />If Borrower abandons the Property, L.ender may file, negotiate 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 />carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-clay period will
<br />begin when the notice is given. In either event, or if Lender acquires the Properiy under Section 22 or
<br />otherwise, Borrower hereby assigns to Lender (a) Bonower's rights to any insurance procee�s in an amount
<br />not to exc.eed the amounts unpaid under the Note or this Security Instrument, and (b) any other of
<br />Banower's rights (other than the right to any refund of uneazned premiums paid by Borrower) under all
<br />insurance policies covering the Property, insofar as such rights are applicable to the coverage of the
<br />Property, Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts
<br />unpaid under the Note or this S�urity Instxvment, whether or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Bonower`s principal residence
<br />within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as
<br />Bonower's principal residence for at least one year after the date of accupancy, unless Lender otherwise
<br />agrees in writing, which consent shall not be unreasonably withiield, or unless extenuating circumstances
<br />exist which are heyond Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspectior�s. Bonower shall not destroy,
<br />dama.ge or impair the Property, allow the Property to deteriorate or commit waste on We Property. Wtiether
<br />or not Borrower is residing in the Property, Bonower shall maintain the Properiy in order to prevent the
<br />Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to
<br />S�tion 5 that repair or restoration is not economically feasible, Bonower shall promptly repair the Property
<br />if damaged to avoid fiurther deterioration or damage. If ittsurance or condemnation proceeiis are paid in
<br />cobnection with damage to, or the taking of, the Properiy, Borrower shall be responsible for repairing or
<br />restoring the Praperty only if Lender has released proceads for such purposes. Lender may disburse proceeds
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMEPIT Form 3028 1/01
<br />VMP � VMP6(NE) (190b)
<br />Wolters Kluwer Financial Servic�s Page 7 af 17
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