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<br />20120439� 2012042
<br />damage pr substantially change the Property or allow the Property to deteriorate, reasonable wear and tear
<br />excepted. Lender may inspect the Property if the Properiy is vacant or abandoned or the loan is in defaulx
<br />Lencler may take reasonable action to protect and preserve such vacant or abandoned Properiy. Borrower
<br />shall also be in default if Borrower, durmg the losa application process, �ave materially false or maccucate
<br />information or statements to Lender (or failed to prov�de Lender with any matenal infarnnation) in
<br />connection with the loan avidenced by the Note, includ'mg, but not limited to, representadons concernu►
<br />Borrower's ocoupancy of the Prope�ty as a priacipal residance. If this Security Inswment is on a leasehol�
<br />Borrower ahall comply with the provisions of the lease. If Borrower acquires fee title to the Property, the
<br />leasehold and fee titte shall not be merged unless Lender agrees to the merger m writing.
<br />6. Condemnation. The proceeds of any award or claim for damages, direct or consec�uential, in
<br />connection with any condemnation or other talang of any part of the Property, or for conveyance m place of
<br />condemnarion, are hereby assi�ned and shall be paid to Lender to the extent of the full amount of the
<br />indebtedness that remains uapaid under t�e Note and this Security Instivman� Lender shall apply such
<br />proceeds to the reduction of tha indabtednass under the Note and this �curity Instrument, first to any
<br />delinquent amounts applied 'm the order provided in Pacagraph 3, and then to prepayment of principal. Any
<br />application of the proceetis to tha principal shall not extend or posbpone the due d�te of the monthly
<br />payments, wluch are referred to in aragraph 2, or chan�e the amowrt of such payments. Any excess
<br />proceeds over an amount required w p ay all out4tanding mdebtsdness under the Note and dtis Security
<br />Tnstrument shall be paid to the entity legally emitled thereto.
<br />7. Charges to Borrower and Protection of I,ender's R�hts in the Property. Boaower shall pay
<br />all governmental or munici�l charges, fines and �positions that aze not included 'm Para�raph 2. Borrower
<br />shall pay these obligations on time directly to the entity which is owed the payment If failure to pay would
<br />adversely affect Lender's intarest in the Property, upon Lender's request Boaower shall promptly .finaish to
<br />Lender receipts evidencing thesapayments.
<br />If Borrower fails to make these payments or the payments required .by. Paragraph 2, or fails to
<br />perform any other covenants and ageements contained . in this Security Instrument, or there is a iegal
<br />proceeding that may si�ificantly affect Lende�'s rights in the Property (such as a proceeding in banla�uptcy
<br />for condemnation or to.enforce laws or regulatiorts), then Lender may do and pay whatever �s necessa�y to
<br />�rotect the value of the Proparty and Lende�'s rights m the Property, iacluding payment of taxes, ha�rd
<br />u�surance and o�er itams mentioned 'm Paiagraph 2.
<br />Any amounts disbursed by Lendar under this Pacagraph shall become an additional debt of
<br />Borrower and be secured by this Security Instrume�. These amotmts shall bear iaterest &am the date of
<br />disbwsement at tlie Note rate, and at the option of Lender, shall be immediately due and �ayable.
<br />Brnrower shall promptly discharge azry lien which has priority over this Secunty Instrument unless
<br />Borrower: (a) agrees in writing to thepayment of the obligation secured by the lien in a manner acceptable to
<br />Lender; (b) cont�ts in good faith the 'lien try, or defends against enforcement of the lien in, legal proceedings
<br />which in the Lander's opinion operate to prevent the euforceme� of the lien; or (c) secures from the holder of
<br />the lien an ageement satisfactory to Lendar subordinatu►� the lien w this Security Instrumen� If Lender
<br />determines that any gart of the Property is subject to a uen which may attain priority over this Security
<br />Instrument, Lender may give Borrower.a notice identifying the lien. Borrower shall satisfy the lien or take
<br />one. or more of the actions set forth above within 10 days of the giving of notice.
<br />8. F�. Lender may collect fees and charges authorized by the Secretary.
<br />9. Grnunds for Acceleration of Deb�
<br />(a) Defaal� Lender may, excapt as limited by regulations issued by the Secretary in the case of paymem
<br />defaults, require immediate �ayment in full of all sums secured by this Se.curity Instrument if:
<br />(i) Borrower defaults by faiung to pay in full any monthly payment required by this Sectuity Instrument priar
<br />to or on the due date of the next monthly payment, or
<br />(u�cB�o by failing, for a penod of thiriy days, to perform a�+ other obligations contained 'm this
<br />(b) Sele Withoat Credlt Approval. Lender shall, if permitted by applicable law (includ'm� section 341(c�
<br />of .the Gazn-St Germain Depository Institutibns Act of 1982, 12 U.S.C. 1701 j-3(cn) anc� with tha pnor
<br />approval of tha Secretary, requ�re immediate payment in full of all tha sums secured by this Secunty
<br />Instrument if:
<br />(� All or part of the Pr�perty, or a beneficial interest in a tr�st owning all or part of the Ptoperiy. is sold or
<br />otherwise transferred (o ber t�an by devise or descent), and
<br />(ri) The Property is not occupied by the purchaser or gi�antee as his or her principal residence, or the
<br />purchaser or �rantee does so occupy the Property, but his or her credit has not beea approved in accordance
<br />with the requvements of the Secretary.
<br />(c) No Waiver. If circumstances occ� that would permit Lender to require immediate payment in full, but
<br />Lender does not requ� such payments, Lender does not waive rts rights wrth resp�t to subsequent eventg.
<br />(d) Regalations of =UD Secretary. In many cucumstances regulations issued by the Secretary will .limit
<br />Lender's ri , m the case of payment defaults, to require immediate payment in full and foreclose if not
<br />paid This �e�cur'iry .Insh ument dces not authorize acceleration or foreclosure if not permitted by regulations
<br />of the Secretary.
<br />(e) Mortgage Not Insnred. Borrower agrees that if this Security Instrumeat and the Note are not determined
<br />to be eligible for insuiar►ce under the National Housing Act within � D$Y$ &om the date hereo� Lender
<br />may, at its option require immediate payment in full of all swns seaired by this Sec�uity lnslrumen� A
<br />written statement of any authorized agent of the Secretary dated subsequent to 60 Days from the date
<br />hereo� declining to insure this Security Instrument and the Note, sha11 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 Lender's failure to remit a mortgage insw�anzce premium to the
<br />Secreta�y.
<br />10. Reinstatement Borrower has a right to ite reinstated if Lender has required nnmediate payment
<br />in full bacause of Borrower's failure to pay aa amount due under tha Note or this Secunty Instrument T}us
<br />right applies even after foreclosure proceedmgs are instituted. To rainstate the Security Insh�ument, Boimwer
<br />shall tender in a lump simm all amounts required to bring Borrower's account current including, to the exteat
<br />they are obligations of Borrower under this Security Inswraent, foreclosure costs and reasonable and
<br />customary attomey's fees and expenses properly associated with the foreclosure proceeding. Ugon
<br />reinstatement by Boaower, this S Instrument and the obligations that it secures shall remain in effect
<br />as if Lender had not required �� payment in full. However, Lender is not required to parmit
<br />reinstatement if (� Lender has accepted reinstatement after the commencemetrt of foreclos�re pra�eedings
<br />within two yeazs immediately preceding the commencament of a current foreclosure proceed'mg, (n)
<br />162Sb.CV (4/11)' 0115035 . P8$e 3 of 5
<br />FHA Nebraslra Dead of T�uat N�+RS �.�.����
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