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20110910�
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<br />additional toss pay�. Lender shall have the right to hold the policies and renewal c�rtificates. If J..ender requires
<br />Borrower shall pro�rnptly give to Lznder all receipts of paid premiums and renewal noticas. If Boaawer obtains �y
<br />form of in5uranc� coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such
<br />policy shail include a standard mortgage clause and shall aame Lender as mortgagee andlor as an additional loss
<br />payee.
<br />In the event of loss, Borrower shall give pro�apt notir,e to the insurance carrier and Lender. Lender may mak�
<br />proof of loss if not made promptly by Borrower. Unless I,endez� and Borrower otberwise agxee in writing, any
<br />inswrance praceeds, whether or not the underlying ins�urance was required by Lender, shali be applied. to restoraxion
<br />or repair of the Properry, if the restoration oz zepair is ec:onctmically feasible and Lender's secarity is not lessened.
<br />I7uring such zepair aad restoration peziod, Lemder shatl have the right to hold such ir,�,�,�nce proceeds imtil Lender
<br />has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction,
<br />provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and
<br />restoration 9n a single payment or in a series of progress payments as the work is completed. Unless an agreement
<br />is made in wziting or Appticable La.w requires interest to be paid on such insurance proceeds, Lender shall not be
<br />required to pay Borrower any interest ox earnings on such proceeds. Fees foz public adjusters, or other third parties,
<br />retained by Borrower shall not be paid out of the insur�cp proceecls and shall be the sole obligation of Borrower.
<br />If the z�storation or repair is not economically feasible or T.ender's s�urity would be lessened, the inswrance proceeds
<br />shall be applied to the snms secured by this Sccarity Instrument, whether or not then due, with the excess, if any, paid
<br />to Borrowez. Such insurance proceeds shall be applied in the order provided foz in Sectivu 2.
<br />Tf Borrower abandons the Properry, Lendez may 51e, negoriate and settie any available insuzance claim and
<br />reIated matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has
<br />offered to settle a claim, then T.ender. may negotiate and setrle the claim. The 30-day period wilI begin when the
<br />notice is given. 7n either event, or if Lender acquires the Property under Section 22 or otherwi.se, Boxxower hereby
<br />assigns to Lender (a) Borrower's rights to any insurance procceds in au amount not ta exceed the amounts unpaid
<br />under tlie Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund
<br />of nneazned premiwns paid by Borrower) wader all insurance policies covering the Properry, insofar as seich rights
<br />aze applicable to the coverage of the PropeYty. Leader may use the insurance proceeds either to repair or restore the
<br />Pxoperty oz to pay amaunts impaid under the Note or this Security Insuument, whether or not then due.
<br />6. Occupanep. Borrower shall occupy, establish, and use ttze Properry as Borrower's principal residence
<br />urithin 60 days after fhe execution of this Security Ia �*+�+ t and shall continue to occupy the Properly as Borrower's
<br />principal residence for at least one year after the date af occupancy, unless T.ender otherwise agrees in writirag, which
<br />consent shall not be unreasonably withheld, or nnless extenuating circwnstanc�s exist which are beyond Borrowez's
<br />control. �
<br />7. Preservation, Maintenance and Prote�dion of the P�ogex Inspect3ons. Borrower shalt not desffoy,
<br />damage or impair the Properry, allow the Property to deteriorate or commit waste on the Pzopezty. Whether ar not
<br />Bonrower is residing in the Properry, Borrower shall maintain the Properiy in order to prevent the Property from
<br />deterioraring or decreasing in value due to its condirion. Unless it is detemoined pursuant ta Section 5 thafi repair or
<br />restoraxion is not economically feasible, Borrower shall prom��.y zepaiz fixe �'roperiy i.f damaged to avoid further
<br />deterioration or damage. If insurance or condemnation proce�ds are paid in connection with damage to, or the taking
<br />of, the Property, Borrower shall be responsible for repairing or restoz�ing the Property onlq if Lender has released
<br />proceeds for such purposes. Lendez may disbwrse proceeds foz the repairs aud zestoration in a si�mgl.e pay�oaent or in
<br />a series of progress payments as the work is compl�ted. If the insurance or condeinnation proceeds are not sufficient
<br />to zepair or restore the Fzoperty, Bozxower is not reIieved of Bonrowex's obligation fox the complaion of such repair
<br />oz zestoration.
<br />Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause,
<br />Lender may inspect the interior of the imgrovements on the Properiy. Lender shall give Borrower norice at the time
<br />of or prior to such an interior inspection sp�ifying such reasonable cause.
<br />S. Borrower's Loan Application. Borrower sha.il be in default if, during the I.oau application process,
<br />Borrower or any persons or entities acting at the direction of Bonower or with Borrower's knowledge or consent ga.ve
<br />materially false, �aai.s�eading, oz i.naccurate information or statements to Lender (or faited to pzovide Lender with
<br />materiat information) in connection with the Laan. Material representations include, but are not Iimit�. to,
<br />represeatatioas concerning Borrower's occupaucy of the Property as Borrower's principal residence.
<br />9. Prote�tion of Lender's Iaterest in the Pcoperty and Righis Under tvis Sa.vrity Insixua�fant. Tf (a)
<br />Bozxower fails to perform the covenants and agr�ments contained in this Security Inst�nmawx, (b} tl�ere is a legal
<br />Proce�ing that might significantly affect Lender's i�erest inthe Properly and/or rights under this Secuirity Ins�ument
<br />(such as a proceeding in banlm�.ptcy, probate, for comdemnatian or forfeiture, for enforcenae.at af a lien whir,h may
<br />attaia prioriry over t3xis Security Insaumerat or to enforce laws or regulations}, or (c) Borrower has abandoned. the
<br />Properry, then Lender may do and pay foz whateeer is reasonable or appzopriate to prote�t Lender's imerest in the
<br />Properry and rights uuder this Security Instrument, including pzote,cting and/or assessing the value of the Praperty.
<br />and securing and/or repairing the Propezty. T.Qnder's actions can include, but are aot limited to: (a) paying azzy swns
<br />se�ured by a lien which has griority over this S�urity Insmimenx; (b) appeazing in court; and (c) paying reasonable
<br />attorneys' fees to prot�t its inferest in the Property and/or rights uncles this Secuzity Inst�iument, including its secured
<br />position in a bankruptcy precseding. Secuzing the Property includes, but is not limited to, ernering the Property to
<br />malce repairs, r,hange locks, replace or board up doors and windows, 8rain water from pipes, elim3nate building or
<br />other code violations or daugexous conditions, and ha.ve utilities turned on or off. Although Lender may take action
<br />under this Section 9, Iznder does not have to do so and is not u�dez any duty or obligation to do so. It is agreed that
<br />L.�nder incurs no liability for not taldng airy or all acrions authorized. under t�us Section 9.
<br />kVEBRASKA—Single Family—Fannie Mae/Freddie Mac E1tV1FORM 1NSTRUM£NT - MERS DpcB
<br />Form 3028 7/01 Page 5 of 71 www+,docmagic.com
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