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20120668� iiiioesiaa balance remaining for all installments for items (a), (b), and (c). ' 3. Appllcation of Payments. All payments under paragraphs 1 and 2 shall ba applied by Lender as follows: F� to tho mortgage insurance pramium ta be paid by Lender to the Secretary or to the monthly charga by tha Secretary instead of the monthly mortgage insurance premium; Secon to any taxes, special assessments, leaseh�ld payments or ground rents, and fire, flood and other hazard insurance premiums, as required; � 1'hir to interest due under the Note; � Fourth. to amortization of the pitincipal of the Note; Fifth, to late charges due under tha Note. ' . 4. Fire, Flood and Other Aszard Insurance. Borrower shaU inaure al] improvements on the Property, whather now in exiatenca or subsequantly arectad, against any hazards, casualtias, and contingencies, including fire, for which Lender requiras insurance. This insurance shall be maintainad in the amounts and for the periods that Lender requtras. Borrower shall also insura all improvemants on the Property, whether now in existanca or subseyuently erected, against loss by floods to the extant reyuired by tha Secretary. All inaurance shall be catrled with companlas approved by Lander.l'ha insuranca policies and any ranawals shall be held by Lender and shall includa loss payable clausas in favor of, �nd in a form accaptable to Lender. ' . In the event of loss, Borrowor shall give Lender immediate notice by mail. Lender may make proof of loss if not made promptly by Borrowar, Each insurance company concerned is hereby authorized and directed to make payment for such loss directly to Lender, instead of to Borrower and to Lender jointly. All or any part of the insurance proceeds may ba applicd by Lender, at its option, either (a) to the reduction af tha indebtedness uader tha Note and thia Securlty Instrument, first to any delinquent �mounts applied in the order in paragraph 3, and then to prepayment of principal, or (b) to the restoration or repair of the damaged Property. Any application of the procaeds to the principal shall not axtand or postpona the due date of the monthly payments which ara referred to in paragraph 2, or change the amount of such payments. Any excess insurance•proceeds over an amount required to pay all outstanding indebtedness under the Note and this Security Iastrument shall ba paid to tha entity legally entitleil thereto. ' In the avent of foreclosure of this Security Instrument or other transfer of title to the Properiy that extinguiahes the indebtedness, all right, title and interest of Borrower in and to insurance policies in force shall pass to the purchaser. 5. Occupaacy, Preservation, Maintenance aad Protection of the property Borrofver's Loan Application; Leaseholds. Borrower shall occupy, establish, and usa We Property as Borrowar's principal residance within sixty days after the execution of this Security Instrument and shall continuo to occupy the Proparty as Borrower's principal residence for at least one year after the date of occupancy, unless the Secretary detarmines this raquirament will cause undue hardship for Borrower, or unless extenuating circumstanc� exist �which ara beyond Borrower's control, Borrower ahall notify Landers of any Bxtenuating circumstancas. Borrow ahall not commit wasto or destroy, damaga or substantially change tha Property or allow the Proparty to detariorate, ressonable wear and tear excepted. Lender may inspect the Property if the Property is vacant or abandoned or the loan is in default, Lender may taka reasonable action to protect and preserve such vacant or abandoned Property. Borrowar shall also be in dafault if Bonower, during the loan application procesa, gave materislly false or inaccurate information or statamants to Landar (or failed to provida Lander with any matarial information) in connection with tha loan avidancad by the Nota, including, but not limited to, representations concarning Borrower's occupancy of the Property as a principal residenca. If this Security Instrument is on a leasehold, Borrowar sha11 comply with all the provisions of th0lease. If Borrowar acquiros fee title to tha Property, the leasahold and fee title shall not ba morgad unlass I.ondar agreea to the mergar in writing. RBA IVebraske Deed of Troet - 06/12 e� 391.14 Paga 3 of 8