|
201207225
<br /> or disbursemenis before the BorzoweYs payments are availahle in the accourt may not be bued on amounts due fur the
<br /> mortgage insurance premium.
<br /> If ihe amou�ts held by Lender for Escrow Items exceed the amounls permitted to be held by RESPA,Le�der sha0
<br /> account to Borzower for the excess funds u required by RESPA.Ifthe amoun4 of funds held by Lender at any time are
<br /> not sufficient m pay the Fscrow Items when due,Lendec may noGfy the Borrower and require Bonower to make up the
<br /> shortage as permitted by RESPA.
<br /> The Fscrow Funds are pledged as addirional security for all sums secured by this SecuriTy I�shument.If Horrower
<br /> [enders to Lender if�e full payment oF all such sums,Botrower's acwunt shatl be credited with the balance remaining
<br /> for all installment items(a),(b),and(c)and a�y mortgage insurance premium instalLnent that Lender hu not become
<br /> obligated to pay W the Seaefary,and I.ender s6at1 promptly refv�d any excess funds to Borrowec Immediately prior to
<br /> a foreclosure sale of the Roperty or its acquisi6on by Lender,Borrower's account shal(be credited with any balance
<br /> remaining for all instatlments for items(a),(b),and(c).
<br /> 3.Appiication of Payments.All payments wder paraAaphs 1 and 2 shall be applied bY Lender u follows:
<br /> FlLsT,to the mortgage insurance premium to be paid by Lender to the Secrelary or to the monihly charge by the
<br /> Secretary instead of ihe monthly mortgage inswance premium; �
<br /> Cer�nA to any ts�ces,special assessments,leasehold payments or ground rents,and fire,flood and other hvard
<br /> inswance premiums,u required; .
<br /> Th�rA to interest due under the Note;
<br /> Fnnnh,to amortization of the principal ofthe Note;and ._
<br /> EBh,to late chazges due under the Note.
<br /> 4.FSre,Flaod and Other Hazard insunuce.Borrower shatl inswe atl improvements on the R'operty,whefher
<br /> now in ncistence or subsequemly erected,agai�st any hazards,casualties,and contingencies,including Ere,for which
<br /> Lender requires insurance.This insurance shall be maimained in the amounts and for ihe periods thaz Lender requires.
<br /> Borrower shall also inswe ali impmvements on the Property,wheiher now in existence or subsequently erected,against
<br /> loss by floods w ihe extent required by the Secretary.All insurance shall be carried with companies approved by
<br /> Lendec The insu[ance policies and any renewals shall be held by Lender and shall inctude loss payable cla�ues in favor
<br /> of,and in a fo�m acceptable to,Leader.
<br /> In the event of loss,Borrowex shal(gve Lender immediate notice by mail.Lender may make proof of Ioss if not
<br /> made promptly by Borrower.Each insurance company concemed is hereby authorized and directed to make paymeut
<br /> For such toss direclly to Lende,instead of to Borzower and to Lenderjointly.All or any part of the insurance proceeds
<br /> may be applied by Lender,at its option,either(a)to tkie reduction of the indebtedness undei'the Note and titis Security
<br /> Instrument,first to any delinquent amounrs applied in the order in paragraph 3,and fhrn to prepaymeM of principal,or�
<br /> (b)to the restoration or repair ofthe damaged Property.My application ofthe proceeds to the principal shall not extend
<br /> or postpone the due date of the monthly payments which are referted to in parng�nph 2,or change the artaunt of such
<br /> paymems.Any excess insurance proceeds wer an amouM required to pay all ouoYsnding indebtedness under the Note
<br /> and this Secwity Inshvment shai!be paid to the entity legaliy rntitled thereto.
<br /> In the event of foreclosure of this SecuciTy Instrvment or oiher transfer of title to ihe Property that eatinguishes ihe
<br /> indebtedness,all right,title and interest of Borzower in and to insurance policies in force shall pass to the purchaser.
<br /> 5.Oc.cupancy,Preservation,Main[enance and Protection of t6e Property�Borrower's Loan Applicatiou;
<br /> Leaseholds.BoRower shatl occupy,establish,and use the Properry u Borrower's principal residence within sizty days
<br /> after the execufion of this Security Instrumem(or within sixty days of a later sale or transfer of the Property)ar,d shal(
<br /> continue to occupy the Properiy as Borrower's prineipal residence for at least one year after the date of occupancy,
<br /> unless Le�der determines tkiat requirement will cause undue hardship for Borrower, or unless eatenuating
<br /> circumsiances exist which are beyond Hoaower's control. Borrower shall �otify Lender of any eztenuating
<br /> circumstances.Borrower shall not commit waste or destroy,damage or subsfantially chaoge the Proper[y or a(low the
<br /> Propetty to deteriornte,rea9onable wear and tear ezcepted.Lender may inspect the Property if Ihe Property is vacant or
<br /> abandoned or the loen is in default. Lender may mlce reasonable action to protect and preserve such vacant or
<br /> FHA Nebraska D¢ad ot TrustwiRh MERS-E/96 ¢ntletl 7/06
<br /> Paqe3of8 K• �.--�+ ��
<br /> ios.inc. BorroweKs)Initieis ��
<br /> �
<br />
|