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201108442
<br /> All insurance policies required Uy Lender 1nd renewals of such policies shall Ue subject to Lender's right to
<br /> clisapprove stiich policies, shall inchide a stazidard inortg�ge clause, and shall name Lender as inortgagee
<br /> and/or as an�ulditional loss payee. Lencler shall liave the right to hold tYie policies and renewll certificates. If
<br /> Lender requires, Borrower s11111 promptly give to Len�ler all receipts of paicl�renuums anci renew�til notices,
<br /> If Borrower obtlins any forin of insurance coverage, not otherwise required vy Lender, for dainage to, or
<br /> destrltction of, the Property, such poricy shall include�t standard mortgage clause and s11a11 nalne Leiider as
<br /> inortgagee and/or as an additionll lass ptiyee.
<br /> In the event of loss, Borrower sllall giva pron�pt notice to tlie insurance ca�rier and Lenc�er. Lender�nay
<br /> inalce proof of loss if not made promptly by Borrower. Unless Lencier and Boriower otherwise agree in
<br /> writing, any iiisurance proceeds, whether or not the underlying insura�ice was required U�Lender, sha11 Ue
<br /> ap�liec�to restioration or repair of the Property, if the restoration or i•epair is economically Feasible�nd
<br /> Lender's secw•ity is not lessened. Dtu�iizg such repair aiid restoration period, Lender shall have the right to
<br /> holcl such insurance proceeels Lintil Lende�•has had an o�portui�ity to inspect such Property to ansure the
<br /> worlc has been com�leted to Lender's safisl'action, �i•ov'rded that sLtch inspection sliall Ue undertalcen
<br /> promptly, Lender inay disburse proceeds for the repairs and restoration in a sii�gle payment or in� series of
<br /> progress payi'neiits as the worlc is completec�. Unless an agreeinent is macle in writing or Ap�li.eable Law
<br /> requires inter�st to be paid on such insurance proceeds, Le�der s1i111 not be required to�ay Borrower any
<br /> intei•est or earnings on such proceeds. I'ees for�ublic adjustiers, or atlier thirc�parties, retained by Borrower
<br /> s1�a11 not ba paid out of the iiistu•aiice proceeds and shall ba t71e sole obligation of Borrower. If�he restoratioii
<br /> or i���ir is not econoinic�lly feasible or Lenc�or's security woLild be lessenecl, the insLtrance proceeds sha11 be
<br /> �pplied to the sums sec�ti•ed by�tl�is Seeurity Instruiiient, whether or not then�due, wit11 tlze excess, if any,
<br /> paid to Boxrower, SLich insLtrailee proceeds sha11�e applied ii�the order providecl for in Section 2,
<br /> IF Bo�•rower abaudons tlYe Property, Lerlder may�7e, negotiate�nd settle any available i�asLU•arice�laim and
<br /> rel�ted matters, If Borrower does not respond within 30 days to a notice fi•om Lei7der that the insurance
<br /> carrier lias offered to setile a claim, then Lender intiy negotiate a�1d settle the claim. The 30-day period wi11
<br /> begin when the notice is given. In eitlier event, or if Lender�equires the Property under Section 22 or
<br /> otherwise, Borrower hereUy assigns to Lender(�)Borrower's rights to�tny insurance proceeds in an�lnount
<br /> not to exceed the ainouilts unpaid under the Note or this Security Instrtiimeilt, anci(U) any other of
<br /> Borrower's rights (other tha�i tl�e right to any refiuid of Luzeariied premitiuns paid by Boi•rower)under all
<br /> insurance policies covering the Pi�operty, insoFar as such rights are a�plicable to the coverage of the
<br /> Property. Lender may use the insurance proceeds either to rep�ir or restore tlie Property or to pay amounts
<br /> unpaid under the Note or this Security Instrument, whetller or no�then due.
<br /> 6. Occupancy. Borrower shall occupy, establish, aiid use the Property as Borrower's principal residence
<br /> witlun 60 days after the execution of this Security I�1�ti�uinent and shall continue to occupy the Property as
<br /> Bori•ower's princip�l resideuce For at least one year�fter tlie date of occu��ncy, uuless Lender otherwise
<br /> agrees in writiug, wluch conse�nt sliall not be um•eaeonably witl�eld,�or tu�less�extenuating�circtuilstauces
<br /> exist which are beyond Boi•rower's control.
<br /> 7. Preservation, Maintenance and Protection of the Property; Inspections. Borzower shall not destroy,
<br /> darilage or iinpair the Pro�erty, allow the Property to deteriorate or con�ilit waste on th�Pro�erty. Whether
<br /> or not Borrower is residing in the Pi•operty, Borrower sh�11 maintain the Property in order to preven�the
<br /> Property fi�om deteriorating or c�ecreasing in value due to its�condition, LTnless it is determined�ursu�nt to
<br /> Section 5 that rep�ir or resforation is not econoii7ica11y feasible, Borrower shall proinptly repair tha Property
<br /> if dainlged to�void further deterioratiorl or daina.ge. If instiu•ance or eorldemnatiioii proceeds are paid in
<br /> connection with da�nage to, or the talcing of, the Property, Borrower shall Ue res�onsible for repaixing or
<br /> restoring tke Property only if Lender has released proceeds for such�urposes. Lender may disburse proceeds
<br /> 231209
<br /> NEBRASKA-Single Family-Fannle Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1I01
<br /> VM P O VM P6(NE)(1105)
<br /> Wolters Kluwer Financial Services Page 7 of 17
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