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201109302
<br /> A11 insurauce policies required by Lender and renewals of such policies sha11 Ue subject to Leiider's right to
<br /> disap�rove suoh policies, sha11 include a stanc�ard inortgage clause, and shall na�ne Lender as inortgagee
<br /> and/or as an addition�l loss payee. Lender sha11 have the right to hold t11e policies ancl renewal certi�cates. If
<br /> Lender requires, Borrower shall proinptly give to Lender all receipts of paid preiniums and renewal notices.
<br /> If Borrower oUtains �ny forin ol insur�nce coverage, not otherwise required by Lender, for dainage to, or
<br /> destruction of, tl�e Praperty, sticli policy sha11 inc7ude a stand�rd inortglge clause and alzall naii�e Lendar as
<br /> inortga�ee a�ld/or as �n additionalloss p�yee.
<br /> In the event of 1oss, T3orrower shall give prompt ilotice to the insurance carrier and Lender. LencTer may
<br /> inalce proof of loss if not macle promptly by Borrower. Unless Lender and Borrower otherwise 2gree in
<br /> writing, any insLiranc�pa•oceeds, wllether or not the mlc�erlying insttras�ce was required by Lender, shall be
<br /> applied to restoration or repair oF the Property, if the restoration or repair is econoinically fe�sible and
<br /> Lender'�s security is not lessenecl. During such repair and restoration period, Lender shall have�tlie right to
<br /> hold such insurance proceeds until Lender has had ai1 o�portunity to inspect sLtch Property to ensure the
<br /> woi�lc has b�en completed to Lender's satisfaction, �rovided tliat such inspeetion sha11 be undertalc�n
<br /> promptly, Lender may clisburse proceecls for the repairs aud restoration iii a single payment or in a series of
<br /> progress payments as the worlc is com�leted. Unless an agreement is made in writing or Applicable Law
<br /> requires interest to be paid on such insurance proceecis, Lender shall not be requirecl to pay Borrower any
<br /> interest or eariiings on such proceeds. Fees for public acljtitsters, or o'ther third pa.rties, ret�inecl by Borrower
<br /> shall not be paid out of tlie insui•lnce proceeds �r1d sha11 be tihe sole oUligation of Borrower. If the restoratian
<br /> or repair is not econolnica7ly feasible oi•Lender's secui�ity would Ue lessened, the insurailc�proceeds sha11 be
<br /> appli�d to the sums secured by tlus Security Instrument, whetlier or not then due, with tl�e excess, if any,
<br /> paid to Borrower. SLioh insurance prooeeds shall ve applied in the order provicled for in Section 2.
<br /> If Borrower abaizclons tlie Property, Lender inay file, negotiate and settle any availaUle insurance claim and
<br /> rel�ted matters. If Borrower does not respoiid within 30 days to a notice from Lender tli�t the instu�nce
<br /> c�rrier has of�erecl to settle a claim, then Lender may negotiate anci settle the claiin, The 30-day period wi11
<br /> begin wheii the notice is given. Iiz either event, or if Lender lcquires the Property under Sectioii 22 or
<br /> atherwise, Borrower h�reby assigns to Lender(a) Borrower's riglits tp ar�y insurance proceeds in an amount
<br /> ilot to exceed the amounts un�aid titnde�'the Note or this Security Instruinent, and(b) �ny other of
<br /> Borrower's rights(other than the right to any refund of unears�ed preiniilms paid by Borrower)under all
<br /> insurance policies covering tlze Property, insofar as sach rights are applicable to the coverage of the
<br /> Property. Lender may use the insurance proceeds either to replir or restore tlze Pi•operty or to pay aiiloui7ts
<br /> unpaid under the Note or this Security Instrument, whether or not Chen due.
<br /> 6. Oecupaney. Borrower shall occupy, establish, and use the Property as Borrower's principal residence
<br /> within 60 d�ys after the execution of t�is Security Instrument and shall continue to occupy the 1'roperty as
<br /> Borrower's�rincipal residence Fnr at least one year after 1lie date of occupancy, t�nless Lender otherwise
<br /> agreea in writiiig, which consent shall not be unreasonably withhelcl, or unless extenuating circumstances
<br /> exist which are beyond Borrower's control.
<br /> 7. Preservation, Maintenance and Protection of the Property; Inspecfions. Borrower sh�ll��ot destroy,
<br /> damage or imp�ir the Property, allow the Property to deteriorate or cominit waste ozi the Property. Whether
<br /> or not Borrowar is residing in the Property, Borrower sha11 m�intain the Pio�erty in order to prevent the
<br /> Property fi•om deteriorating or decreasing in valua due to its caixclition. Unless it is deteriniiied pursua�zt tio
<br /> Sectioiz 5 that repair or restor�tion is not econoinically feasible, Boi•rower sllall proinptly repair the Property
<br /> if danl�ged to avoid Further deteriorltioii or clam�ge, If insur�nce or condenuiation proceeds are paid in
<br /> coiulectiioi�with d�mage to, or the talcing of, the Pro�erty, Borrowei•sha11 be responsiUle for repairing or
<br /> restoriiig t11e Property only if Lender 11as rele�seci proceeds for sucli purposes, Lender may c�isUrirse proceeds
<br /> 231232
<br /> NEBRASKA-Single Family-Fannie MaelFreddie 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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