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201108381
<br /> All iilsurance policies required Uy Lender and renewals of such policies slaall l�e subject to Lender's right to
<br /> disapprove such policies, shall iiiolude a stantiard mortigage clausa, and s11a11 naine Lender as mortgagee
<br /> and/or as an�dditional loss payee. Lender s1za11 liave the right to hold the policies and renewal certi�cates. tr
<br /> Lender requires, I3orrower shall promptly give to Lender all receipts oFpaid premiums and renewal notices.
<br /> If Borrower oUtains any forin oF insurance cover�ge, not otherwise required vy Lender, for damage to, or
<br /> destruction of, the Property, such�olicy sllall include a stanc�ard mor�gage clause and slrall naine Lender as
<br /> nzortgagee and/or�s an adciition�tl loss payee.
<br /> In tlie event of loss, Borrower sliall give prompti notice to the insurance carrier�nd Lender. Lender m�y
<br /> malce proof of loss if not nlade promptly Uy Borrower. Unless Lender and Borrower otherwise agree in
<br /> writing, any insurance proceeds, wl7ether or not t11e underlyiug instu�atzce was rec�uired by Lendei•, shall Ue
<br /> applied to restoration or repair of the Property, if the restoration or repair is economically feasible and
<br /> Lender's security is not lessene�l. During su�h repair and restora�ion period, Lender shall have the righti to
<br /> hold such insurance proceeds until Lender has had an opportunity to inspect such Prope�•ty to ensm•e the
<br /> worlc has been completed to Lencler's satisfaeiion, provided that sucli inspection shall be uildertalcen
<br /> �ron�ptly. Lenc�er rnay disburse proce�c�s for the repairs arzd restoratioil in a single payment or in a sei•ies of
<br /> prograss payments as the ve�orlc is completed. Ui7less an agreen7ent is made in writing or A�plicable Law
<br /> requires interest to ve paicl on sucli insttraiice proceeds, Lender shall not Ue required to pay Borrower any
<br /> interest or earnings on such proceecls. Fees for public adjusteis, or otlier thircl parties, retained by Borrawer
<br /> sha11 not be paid out of the i�zstu°ftnce proceeds aiid shti11 Ue t17e sole oUligation of Borrower. If the restoration
<br /> or rep�iir is not eco�zoinically feasiUle or Lender's security would be lessened, t77e insurance proceeds shall be
<br /> applied to t1�e sur7�s seoured by tliis Security Inst�•uinent, whether or not then clue, with the excess, if any,
<br /> p�id to Borrower. Such insur�nce proceeds shall Ue a�plied in tlle order provided for in Section 2.
<br /> I£Borrower al�anc�ons the Property, Lender nitiy fi1e, negotiat�and settl�any availaUle insurance claim and
<br /> related matters. If Borrower does noti respond within 30 days to a notice from Lender that tlie insurance
<br /> carrier h�s ofFered to settle a claiin, then Lender inay negotilte and settle tlie claii�l, Tho 30-day p�riod wi11
<br /> begin when the notice is given. Iii either event, or if Lender acquires the Property under Section 22 or
<br /> oiherwise, Borrower hereby assigns to Leiider(�) Bori•ower's iights to any insurance proceeds in aii amount
<br /> not to exceed the amounts unpaid under t7ie Note or this Security Instruinent, and(b) a�1y other of
<br /> Borrower's rights (other tha�1 the right to any rafund of unearned preiniuiils paid by Borrower)uiider�11
<br /> insut•aiice policies covering the Property, insof�r as stiich rights are applicaUle to tlle coverage of the
<br /> Property. Lender inay use the insui•ance proceeds either to i•epair or restore the Fro�erty or to pay amou�7ts
<br /> un�aid uncier the Note or this Security Instrument, whether or not then chie.
<br /> 6. Oceupancy. Borrower shall occupy, estaUlish, and use the Property as Borrower's pi•iizcipal residence
<br /> within 60 dlys after the executiori of tlus Secttrity Instrunlent and shall continue to occupy the Property as
<br /> I3orrowei•'s priiicipal residence Por at 1e�st one ye�i•after tlie da.te of occupancy, uilless Lender otherwise
<br /> agrees in�.vriting, whicll consent sha11 not ve uilre�sonably withhald, or u�iless oxtenuating eirctiunstances
<br /> exist whicli are beyond Borrower's control.
<br /> 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrowei�s11a11 not destroy,
<br /> dasnage or impau the Property, a11ow the Property to c�eteriorate or commit waste on the Property. Whether
<br /> or uot Borrovver�is residi�g in the Property, Borrower sliall iv�intain�he Property i�order to pravei�t the
<br /> Property from deteriorating or decreasing in value due to its condition. Unless it is de�ermined pursuant to
<br /> Section 5 that repair or restoration is not econonucally feasible, Bori•ower sh111 prom�tly repair the Property
<br /> if elasnaged io avoid further deterioration or damage, If insurance or coiidemn�tion proceeds are paicl iil
<br /> comiection wit11 damage to, or the talcing of, the Pro�erty, Borrower s11a11 Ue responsiUle for repliring or
<br /> restoring the Pro�erty only if Lei7der has releasecl proceeds for such purposes, Lender may disbitrse proceeds
<br /> 231205
<br /> NEBRASKA-Single Fam Ily-Fannle M ae/Freddie M ac UNIPORM INSTRUM ENT Form 3028 1/01
<br /> VMP(� VMP6(NE)(1105)
<br /> Wolters Kluwer Flnancial Services Page 7 of 17
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