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20120389� leasehold, Borrower shall comply with the provisions of the lease. If Bonower acquires fee title to the Property, the leasehold and fee title shall not be merged unless Lender agrees to the merger in writing. 6. Condemnation. The proceeds of any awazd or claim for damages, direct or consequential, in connection with any condemnation or other taking of any part of the Property, or for conveyance in place of condemnation, aze hereby assigned and shall be paid to Lender to the extent of the full amount of the indebtedness that remains unpaid under the Note and this Security Instrument. Lender shall apply such proceeds to the reduction of the indebtedness under the Note and this Security Instrument, first to any delinquent amounts applied in the order provided in paragraph 3, and then to prepayment of principal. Any applicarion of the proceeds to the principal shall not extend or postpone the due date of the monthly payments, which are referred to in pazagraph 2, or change the amount of such payments. Any excess proceeds over an amount required to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity legally entitled thereto. 7. Charges to Borrower and Protection of Lender's Rights in the Property. Bonower sha11 pay all governmental or municipal chazges, fines and impositions that are not included in paragraph 2. Bonower shall pay these obligarions on time directly to the entity which is owed the payment. If failure to pay would adversely affect Lender's interest in the Property, upon Lender's request Borrower shall promptly furnish to Lender receipts evideacing these payments. If Bonower fails to make these payments or the payments required by paragraph 2, or fails to perform any other covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in banlu�uptcy, for condemnation or to enforce laws or regulations), then Lender may do and pay whatever is necessary to protect the value of the Property and Lender's rights in the Properiy, including payment of talces, hazard insurance and other items mentioned in pazagraph 2. Any amounts disbutsed by Lender under this paragraph shall become an additional debt of Bonower and be secured by this Security Insttument. These amounts shall beaz interest from the date of disbursement at the Note rate, and at the oprion of Lender shall be immediately due and payable. Borrower shall promptly dischazge any lien which has priority over this Security Instrument unless Bonower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to ttris Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over this 5ecurity Instrument, Lender may give Borrower a notice identifying the lien. Bonower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. 8. Fees. Lender may collect fees and chazges authorized by the Secretary. 9. Grounds for Acceleration of Debt (a) Default Lender may, except as limited by regulations issued by the Secretary in the case of payment defaults, require immediate payment in full of all sums secured by this Security Insirument if: (i) Bonower defaults by failing to pay in full any monthly payment required by this Security Instrument prior to or on the due date of the next monthly payment, or (ii) Bonower defaults by failing, for a period of tturty days, to perform any other obligations contained in this Security Instrument. (b) Sale Without Credit Approval. Lender shall, if permitted by applicable law (including section 341(d) of the Garn-St. Germain Depository Institutions Act of 1982, 12 U.S.C. 1701j-3(d)) and with the prior approval of the Secretazy, reqiure imme�iate payment in full of all sums secured by this Security Inslrument if: (i) All or part of the Property, or a beneficial interest in a trust owning all or part of the Property, is sold or otherwise transferred (other than by devise or descent), and (ii) The Property is not occupied by the purchaser or grantee as his or her principal residence, or the purchaser or grantee does so occupy the Properiy, but his or her credit has not been approved in accordance with the requirements of the Secretary. FHA NEBRASKA D� OF TRUST - MERS DoslNag/c � IVmOTZ.FHA 03/21/12 Page 4 of 9 www.docmaglc.com II I II I III I II I pl I II�I I I II I I II I II II I I I I I I a I I I II IIII III