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201207599 In the event of foredosure of this Security Instrument or other transfer of title to the Property that extinguishes the indebtedness, all right, title and interest of 8orrower in and to insurance policies in force shall pass to the purchaser. 4. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan Application; Leaseholds. Borrower shall ocapy, establish, and use the Property as Borrowers principal residence after the execution of this Security Instrument and Borrower (or at least one Borrower, if initially more than one person are Borrowers)and shall continue [o occupy the Property as Borrower's principal residence for the term of the Security Instrument. "Principal residence"shall have the same meaning as in the Loan Agreement. Borrower shall not commit waste or destroy, damage or substantially change the Property or allow the Property to deteriorate, reasonable wear and tear excepted. Bonower shall also be in default if Borrower, during the loan application process, gave materially false or inaccurate information or statements to Lender(or failed to provide Lender with any material infortnation) in connection with the loan evidenced by the Note, including, but not limited to, representations conceming Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a leasehold, Borrower shall comply with the provisions of the lease. If Borcower acquires fee title to the Property, the leasehold and fee title shall not be merged unless Lender agrees to the merger in writing. 5. Charges to Borrower and Protection of Lendels Rights in the Properry. Borrower shall pay all governmental or municipal charges, fines and impositions that are not inGuded in Paragraph 2. Borrower shall pay these obligations on time diredly to the entity which is owed the payment. If failure to pay would adversely affect Lender's interest in the Property, upon Lenders request Borrowar shall promptly furnish to Lender receipts evidencing these payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument in the manner provided in Paragraph 12(c). If Borrower fails to make these payments or the property charges 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 afiect Lenders rights in the Property (such as a proceeding in bankruptcy, for condemnation or to enforce laws or regulations), then Lender may do and pay whatever is necessary to protect lhe value of ihe Property and Lender's rights in the Property, including payment of taxes, hazard insurance and other items mentioned in Paragraph 2. To protect Lender's security in the Property, Lender shall advance and charge to Borrower all amounts due to the Secretary for the Mortgage Insurance Premium as defined in the Loan Agreement as weli as all sums due to the loan servicer for servicing activi6es as defined in fhe Loan Agreement. Any amounts disbursed by Lender under this Paragraph shall become an additional debt of Borrower as provided for in the Loan Agreement and shall be secured by this Security Instrument. 6. Inspection. Lender or its agent may entar on, inspect or make appraisals of the Property in a reasonable manner and al reasonable times provided that Lender shall give the Borrower notice prior to any inspection or appraisal specifying a purpose for the inspection or appraisal which must be related to Lender's interest in the Property. If the Property is vacant or abandoned or the loan is in default, Lender may take reasonable action to protect and preserve such vacant or abandoned Praperty without notice to the Borrower. � ��I�I��U IYIIIII�Ivlllll Illlhl JIIlI�II U IIIil��ll Finele Oocument Sarvkea�0279(07/U7) (3 of 9) Ne6reska Semnd DeaO o/Truri-NECM FI%ED RA7E