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2�110988�
<br />In the ev�t of foreclos�e of Hris Seciuity Inst�mment or othe transfer of 6tle to the Property that acfing�rishes the
<br />indebtadn�s, all right, title and interest of Boaower in �d to insia�ce policies in force shall pas to the purchaser.
<br />5. Occupancy, PreservaHon, Maintenance and Protecdon of the Property; Borrower's Loan Applicadon;
<br />Leaseholds. Bottower shal] occupy, establish, and use the Property as Borrower's principal residence within sixty
<br />days atter the ea�ecution of this Security Instrimment (or within sixty days of a later sale or transfer of the Properiy)
<br />and sLall continue to occupy the Propetty as Borrower's principal residence for at least one year after the date of
<br />accupancy, unless Lender determines that requirement will cause undue hardship for Borrower, or unless extenuating
<br />circumstances exist which aze beyond Borrower's controL Borrower shall notify Lender of any extenuating
<br />circinnstances. Borrower shall not commit waste or deshoy, damage or substantially change the Property or allow
<br />the Property to deteriorate, reasonable wear and tear excepted. Lender tnay inspect the Property if the Property is
<br />vacant or abandoned or the loan is in defaulk Lender may take reasonable ac6on to protect and preserve such vac�nt
<br />or abandoned Property. Borrower ahall also be in default if Borrower, during the loan application process, gave
<br />materially false or inaccurate information or statements to Lender (or failed to provide Lender with any material
<br />information) in connection with the loan evidenced by the Note, includ'mg, but not limited to, representations
<br />concerning Borrower' s occupancy of the Property as a principal residence. If this Secimty Instrument is on a
<br />leasehold, Boaower shall comply with the provi�ons of the lease. If �aower acquires fee tifle to the Property, the
<br />leasehold and fee title shall not be merged unless Lender agrees to the merger in writing.
<br />6. Condemnatlon. The proceeds of any award or claim far damage.s, direct or consequential, in coanection
<br />with any condemnation or other taldng of any part of the Property, or for conveyance in place of condemnation, are
<br />hereby assigned and shall be paid to Lender to the extent of ihe full amount of the indebtedness that remains uupaid
<br />under the Note and this Security Instrument Lender shall apply such proceeds to the reduction of the indebtedness
<br />under the Note and this Sec�rcity Inshvment, first to any delinquent amounls applied in the order provided in
<br />paragraph 3, and then to prepayment of principal. Any application of the proceeds to the principal shall not extend
<br />or postpone the due date of the monthly payments, wluch are referted to in paragraph 2, or change the amount of such
<br />payments. Any excess proceeds over an amotmt required to pay all outstanding indebtedness under the Note and this
<br />Security Instrument shall be paid ro the entity legally entiUed therew.
<br />7. Charges to Borrower and Protection of Lender's Rights m the Property. Borrower shall pay all
<br />govemmental or municipal charges, fines and imposi6ons that aze not included in paragraph 2. Bonower shall pay
<br />these obligations on time direcUy to the entity wkuch is owed the payment If failure to pay would adversely affect
<br />Lender's interest in the Property, upon Lender's request Borrower shall promptly fiunish to. Lender receipts
<br />evidencing these payments.
<br />If Borrower faiLs to make these payments or the payments required by paragraph 2, or fails to perform any other
<br />covenants and agreements contained in flris 3ecurity Inshvment, or there is a legal proceeding that may significanfly
<br />affect Lender's rights in the Property (such as a proceeding in baniQUptcy, for condemnation or to enforce laws or
<br />regulations), then Lender may do and pay whatever is necessary to protect the value of the Property and Lender's
<br />rights in the Praperty, including payment of taxes, ha�ard insurance and other items mentioned in paragraph 2.
<br />tlny amoimts disbursed by Lender imder this paragcaph shall become an additional debt of Borrower and be
<br />sec�sedby this Secisity Insmiment These amotmts shall beac interest from the date of disbw�sement at the Note rate,
<br />and at the option of Lender shall be unmediately due and payable.
<br />Borrower shall promptly discharge any lien wlvch has priority over Uris Security Ins�ument unless Borrower:
<br />(a) agrees in writing to the payment of the obligation sec�ued by the lien in a manner acceptable to Lender; (b) contests
<br />in g�d faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's
<br />opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement
<br />satisfactory to Lender subordinating the lien to this Sec�ity Instn�ent If Lender determines that any part of the
<br />Property is subject to a lien wlrich may attain priority over this Security Instrument, Lender may give Borrower a
<br />notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within
<br />10 days of the giving of notice.
<br />& Fe�. Lender may oollect fees and chazge.s suthorized by the Secretary.
<br />9. Gronnds for Accelera�toa of Debt
<br />(a) Defaalt Lender may, except as limited by regulations iasued by the Secretary in the case of payment
<br />defaults, require immediate payment in full of all sums sec�ued by this Security Instnmment iF
<br />(i) Barrower defaults by failing to pay in full any monthly payment required by this Security
<br />Instnmrent prior to or on the due date of the next monthly payment, or
<br />(ii) Borrower defaults by failing, for a period of thirty days, to perform any other obligations
<br />contained in t7�is Secw Inshvment
<br />(b) Sale Withont Credit ApprovaL Lender shall, if permitted by applicable law (including section 341(�
<br />of the Garn-St Germain Depoatory Institutions Act of 1982, 12 U.S.C. 1701j-3(d)) and with the prior
<br />approval of the Secr�azy, re�t�ira i�ediata Payment in fiill of all s�s seaaed by this Security Instr�ent �
<br />(i) All or part of the Properiy, or a beneficial interest in a trust owning all or part of the Property, is
<br />sold or othetwise transferred (other than by davise or descent), and
<br />(ii) The Property is not occupied by the piacheser or grantee as his or her principaT residence, or the
<br />p�schaser or grantee does so occupy the Property, but his or her credit has not been approved 'm
<br />accordance with the requirements of the Secretary.
<br />(c) No Waiver, ff circumstances occur that would permit Lender to re.quire immediate payment in fiill,
<br />but I.ender dors not req�rice suc� payments, IRnder does �t waive its rights with respect to subsaquent ev�ts.
<br />(� Regulafloas of H[JD Secretary. 1n many circumstanc� regulations issued by the Secretary w71 limit
<br />Lender's rights, in the case of payment defaulis, to require immediate payment in full and foreclose if not
<br />FHA N�RA9KA DFgf OF TRl1ST - M Q� Dod?ag(� �
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