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2012042
<br />damage pr substantially changa the Property or allow the Properiy to deteriorate, reasonable wear zmd tear
<br />excepted Lender may inspect the Property if the Properiy is vacant or abandon� or the loan is in defaul�
<br />Lender may take reasonable action to protect and preserve such vacant or a6andoned Property. Borrower
<br />shall also be in default if Borrower, durmg �e loan apphcation process, �ave materially false or maccurate
<br />information or statements to Lender (or failed to provide Lender wrth a�ry matenal information) ia
<br />connection with tha loan evidenced by the Note, including, but not limitad to, representations concernu►
<br />Borrower's occupancy of the Propariy as a principal residance. If this Sacurity �nslrument is on a leasehol�
<br />Borrower shallcomp ly with the provisions of the lease. If Borrower acquires fee title to the Properiy, the
<br />leasehold and fee title shall not be merged unless Lender agrees to the merger m writing.
<br />6. Condemnatlon. The proceeds of any award or claim for damages, direct or consec�uential, in
<br />connection with eny condemnation or ather talang of any part of the Property, or for conveyaace m place of
<br />condemnarion, are hereby assigned and shall be paid to Lender to the extent of the full amount of the
<br />iadebtedness that remains imnpaid under t�e Note and this S Instrumen� Lender shall apply such
<br />proceeds to the reduction of the indebtedness under the No � this Security Jnstrument, first to any
<br />delinquent amounts applied 'm the order provided in Paragraph 3, and th�n to em of principal. Any
<br />application of the proceeds to the principal shall not extend or postpone t du d�te of the monthly
<br />payments, which are referred to in h 2, or chan�e the araount of such payments. A�ry excess
<br />p: eeds over an amount required w pa�a outstanding mdebtedness under the Note aad this Security
<br />I��ent shall be paid to the eatity legally entitled thereto.
<br />7. Charges to Borrnwer and Protection of Lender's R�hts in the Property. Boaower shall pay
<br />all governmental or municipal ch�ges, imes and 'nnpositions that are not included 'm Para�raph 2. Boaower
<br />shall pay these obligations on tfrne directly to the entifiy which is owed the payment If failure to pay would.
<br />adversely affect Lender's interest in the Property, upon Lender's request Borrower shall promptly.furnish to
<br />Lender receipts evidencing thesa payments.
<br />If Borrower fails to make these payraents or the payments required .by. Paragraph 2, or fails to
<br />perform any other covenants and agreements contained . in d�is Security Instrument, or there is a legal
<br />proceeding that may significantly affect Lende�'s ri m the Property (such as a proceeding in banlauptcy
<br />for condemnation or to.enforce laws or regulations ,�then Lender may do and pay whatever is necessary to
<br />�rot�t the value of the Properiy and Lendei's rights in the Properiy, including payment of taxes, ha�rd
<br />u�surance and other items mentioned in Parag�aph 2.
<br />Any amount5 disbursed by Lender undar this Patagraph shall become an additional debt of
<br />Borrower and be secured by this Security Inswmern. These amounts shall beaz interest &om thc date of
<br />disbiusement at the Note rate, and at the option of Lender, shall be immediately due and �ayable.
<br />Borrower shall promptly discharge any lien which has priority over this Secunty Instrument unless
<br />Borrower: (a) agrees in vmiting W the psyment af the obli�ation secured by the lien in a manner acceptable to
<br />Lender, (b) conte,cts in good faith the lisn by, or defends against enforcement of the lien in, legal Proceedin&g
<br />which in the Lender's opimion operate to pravent the enforcement of the lien; or (c) seaues from the holder of
<br />the lien an agreement satisfactory to Lendar subardinatm� the lien W this Security Inst�ment. If I,ender
<br />determines that any part of �►e Property is subject to a uen which may attain pnority over this Security
<br />Instrument, Lender may give Borrower,a notice idenrifying the lien. Borrower shall satisfy tha lien or talce
<br />one. or more of the actions set forfh above within 10 days of the giving of notice.
<br />& F�. Lender may colle,ct fees and charges authorized by the Searetary.
<br />9. Grounds for Acceleration of Deb�
<br />(a) Defaal� Lender may, except as limitad by regulations issued by the Secretary in the case of payme�rt
<br />defaults, require immediatepaym�t ia full of all sums secured by this Security Tnstcument if:
<br />(� Borrower defaults by failing to pay in fiill any monthly gayment required by this Seaarity Inst�ument prior
<br />to or on the due date of the next monthly payment, or
<br />(u) Borrower defaults by failing, for a penod of thirty days, to perform any other obligations contained 'm this
<br />security Insmiment.
<br />(b) Sale Withoat Credit ApprovaL Lender shall, if permitted by applicable law (including section 341(�
<br />of.We Garn-St Germain Depository Instit�tions Act of 1982, 12 U.S.C. 1701j-3(cn) and with the pnor
<br />approval of the Secratazy, reqwre unmediate payment in full of all the sums secured by this Secunty
<br />Instrument if
<br />(i) All or part of the , or a beneficial interest in a tn�st owning all or part of the Properiy, is sold or
<br />otherwise hansferred (�dian by devise or descent), and
<br />(ri) 1'he Properiy is not occupied by the purchaser or gante,e as his or her principal residence, or the
<br />purchaser or �rantee does so occupy the Properiy, but his or her credit has not been approved in accordanca
<br />with tha requ�rements of the Secretary.
<br />(c) No Waiver. If circumstances occur that would parmit Lender to require immediate payment in full, but
<br />Lender does not reqw� such payments, Lender does not waive rts rights wrth respect to subsequent events.
<br />(d) Regalations of YUD Secretary. In many circumstances regulations issued by the Secretary will .licnit
<br />Lender's rigl ts, m the case of payment defaults, to require immediate payment in full and foreclose if not
<br />paid This Security.Instrument dces not suthtsrize acceleratiion or foreclosure if not permitted by regulations
<br />ofthe Secretary.
<br />(e) Mortgage Not Insnred. Borrower agrees that if tlus Security Instrument and the Note are not determined
<br />to be eligible for insurance under the National Housing Act within � DaYs from the date hereo� Lender
<br />may, at its option require immediate payment in full of all sums secwed by this Security Instrument A
<br />written statement of any authorized agent of the Sacretary deted subsequent to 60 Days from the date
<br />hereo� declining to insure this Security Inswment and the Note, shall be deemed conclusive proof of such
<br />ineligibility. Notwithstanding the foregoing, this option may not be exercised by Lender when the
<br />unavailability of ins�u�ance is solely due to I.ender's failure to renoit a mortgage insurance premium to the
<br />Secreta�y.
<br />10. Reinstatemen� Boaower has a right to be reinstated if Lendar has required 'unmediata payment
<br />in full because of Borrower's failure to pay an amount due under the Note or this Security Iastrument T7us
<br />right applies even aRer foreclosure proceedmgs are instituted. To reinstate the Security Instrument, Borrower
<br />shall tender in a lump sum all amounts required to bring Borrowe�"s account cuirent including, to �e extent
<br />they are obligations of Borrower under this Security Instrum�t, foreclosure costs and reasonable and
<br />customary attorney's fees and expenses properly associated with the foreclosure proceeding. Upon
<br />reinstatement by Borrower, this Sa�Instrument aad the obligations that it secures shall remaw ia effect
<br />as if Lender had not required imm payment itt full. However, Lender is not requaed to permit
<br />reinstatement if: (� Lender has accepted reinstatement after the commencement of foreclosure proceedings
<br />within two ywrs immediaUely preceding the commencamant of a current foreclosure proceeding, (u)
<br />16256.CV (9/i i) O115035 page 3 of S
<br />FHA Nebisska Daed of Trust Iu�RS �.�.����
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