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20110887�
<br />All insurance policies requireri by Lender and renewals of such policies shall be subje�t 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, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices.
<br />If Bonower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or
<br />destrucrion of, the Property, such policy shall include a standard mortgage clause and shall name Lender as
<br />mortgag� and/or as an addirional loss payee.
<br />In the event of loss, Bonower shall give prompt notice to the insurance carrier and Lender. Lender may
<br />make proof of loss if not made promptly by Bonower. Unless Lender and Borrower otherwise agr� in
<br />writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be
<br />applied to restoration or repair of the Properry, if the restoration or repair is economically feasible and
<br />Lender's security 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 insp�t such Property to ensure the
<br />work has b�n complete� to Lender's satisfaction, provided that such inspection shall be undertaken
<br />promptly. Lender may disburse proceeds 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 Applicai�le Law
<br />requires interest to be paid on such insurance proceeds, Lender shall not be requirefl to pay Borrower any
<br />interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retainefl by Bonower
<br />shall not be paid out of the insurance proc�ds and shall be the sole obligation of Borrower. If the restoration
<br />or repair is not economically feasible or Lender's s�urity would be lessened, the insurance proceeds shall 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 Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2.
<br />If Borrower abandons the Property, Lender may file, negotiate and settle any available �nc�,�nce claim and
<br />relatefl matters. If Borrower does not respond within 30 days to a notice from Lender that the �nc,�rance
<br />carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30�aay period will
<br />begin when the notice 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 any insurance proceeds in an amount
<br />not to excced the amounts unpaid under the Note or this Security Instnunent, 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, insofaz 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 Se,curity Instrument, whether or not then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence
<br />within 60 days after the execution of this S�urity Instrument and shall continue to occupy the Property as
<br />Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwis�
<br />agr�s in writing, wluch consent shall not be unreasonably withheld, or unless extenuating circumstances
<br />exist which are beyond Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Bonower shall not desiroy,
<br />damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether
<br />or not Bonower is residing in the Properly, Borrower shall maintain the Property in order to prevent the
<br />Property from deteriorating or d�reasing in value due to its condirion. Unl�s it is determined pursuant to
<br />Section 5 that repair or restorarion is not ec:onomically feasible, Bonower shall promptly repair the Properiy
<br />if damaged to avoid further deterioration or damage. If insurance or condemnation procseds are paid in
<br />connecrion with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or
<br />restoring the Property only if Lender has releas� proceeds for such purposes. Lender may disburse proceeds
<br />NEBRASKA-Single Family-Fannie MaelFreddie Mac UNIFORM INSTRUMENT Form 3028 1/07
<br />VMP p VMPB(NE) (1105)
<br />Wolters Kluwer Financial Services Page 7 of 17
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