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<br /> All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to
<br /> disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee
<br /> and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If
<br /> Lender requires, Bonower shall promptly give to Lender all receipts of paid premiums and renewal notices.
<br /> If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or
<br /> destruction of, the Property, such policy sha11 include a standard mortgage clause and shall name Lender as
<br /> mortgagee and/or as an additional loss pay�.
<br /> In the event of loss, Bonower shall give prompt notice to the insurance catrier and Lender. Lender may
<br /> make proof of loss if not made promptly by Borrower. Unless Lender and Bonower otherwise agree in
<br /> writing, any insurance proc,eeds, whether or not the underlying insurance was required by Lender, sha11 be
<br /> applied to restoration or repair of the Property, if the restoration or repair is economically feasible and
<br /> Lender's security is not lessened. During such repair and restoration period, Lender sha11 have the right to
<br /> hold such insurance proceeds until Lender has had an opporiunity to inspect such Property to ensure the
<br /> work has been completed to Lender's satisfaction,provided that such insp�tion shall be undertaken
<br /> promptly. Lender may disburse procce�is for the repairs and restoration in a single payment or in a series of
<br /> progress 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 proc,eeds, Lender shall not be required to pay Borrower any
<br /> interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower
<br /> sha11 not be paid out of the insurance proceeds and shall be the sole obligation of Bonower. If the restoration
<br /> or repair is not economically feasible or Lender's s�urity would be lessened, the insurance proceeds sha11 be
<br /> applied to the sums secured by this S�urity Instrument, whether or not then due, with the excess, if any,
<br /> paid to Bonower. Such insurance procee�s shall be applied in the order provided for in Se�tion 2.
<br /> If Bonower abandons the Property, Lender may file, negotiate and settle any available insurance claim and
<br /> related matters. If Bonower 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-day period�will
<br /> begin when the notice is given. In either event, or if Lender acquires the Progerty under Section 22 or
<br /> otherwise, Borrower hereby assigns to Lender(a)Borrower's rights to any insurance proceeds in an amount
<br /> not to exaeed the amounts unpaid under the Note or this Security Instrument, and(b)any other of
<br /> Borrower's rights(other than the right to any refund of unearned premiums paid by Bonower)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 procceds either to repair or restore the Property or to pay amounts
<br /> unpaid under the Note or this Security Instrument, whether or not then due.
<br /> 6. Occupancy. Borrower shall occupy, establish, and use the Properly 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 occupancy, unless Lender otherwise
<br /> agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances
<br /> exist which are beyond Bonower's control.
<br /> 7. Preservation, Maintenance and Protection of the Property; Inspections. Bonower shall not destroy,
<br /> damage or impair the Property, a11ow the Property to deteriorate or commit waste on the Property. Whether
<br /> or not Borrower is residing in the Property, Bonower sha11 maintain the Property in order to prevent the
<br /> Property from deteriorating or decreasing in value due to its condition. Unless it is detemuned pursuant to
<br /> Section 5 that repair or restoration is not economically feasible, Bonower sha11 promptly repair the Properly
<br /> if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in
<br /> connection with damage to, or the taking of, the Property, Bonower shall Ue responsible for repairing or
<br /> restoring the Property only if Lender has released proc,eeds for such purposes. Lender may disburse proceeds
<br /> NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01
<br /> VMP� VMP61NE)(71051.00
<br /> Wolters Kluwer Financial Services Page 7 of 17
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