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201208501 i�ionthly payments w-htch are referred to in paragraph 2, or�hange rhe amount oF sucl� payments. Any excess insurance�roceeds over an amount requn•ed to pay all ou.tstanding indebtedness«nder the Note and this Security Instrument shail be paid to the entity legatly entitled thereto. In the event of foredosu.re ofi this Secority Instrument or othe:transfer of title to the Property that extinguisl�es die 1ndeUtedness,�Il r�ght, t3tle and�nterest af Borrower in and to insurance policies in force shail pass to the purehaser. 5. Occupancy, Preservation, Nlainfenance and Proteetion of the Property; Borrower's Loan Appficatioh;Leaseholds_Barro��er shalt occupy, esYat�lish, and use the Property as Borrvwer's urincipal residence w•[thin s�xty days afte.•the execut�on of this Security lnstrument(or w•ith�n sixcy days of e later saSe or transfer of tlte Propertyj and sha11�ontinue to occupy the Pro�erty as Bo��oti�er's principal residence i'or at ieast one��ear after the date of occ�Epancy, unless �ender cletei�nfnes that requirement�vill cause ui�due hardship for Borrower,or�rnlass extenaatin� circumstances exist whicla are beyond Boarower's control. Borro��er shall notify Lendei•of any extenuating circumstances. Borro�r�er shall not coanmft waste or destroy, damage or substantially cl�ange the Prouerty or allow the Property to deteriorate,reasonaUle wear and tear excepted. l.ender may uispect the Property if the Pi•operty Ss vacant or abandoned or the Ioan �s ir� default. Lender rnay take reasonaUle action to prote�t and prese�•e such vacant or abandoned Praperry. Bo��v.+�er shalE also be in ciefault if Borrower, dunnt;the loan app]icatian process,gave mater9ally false or��accurate �nfonnation or statements to Lender(or failed to provide Lender��th any material infonnation) tn aonnection wfth the loan evidenced by the i�ote, including,but not limited to, representations concerning Borro«,�er's occupancy of the Property as a u�'�ncipai res�dence. If t]lis 5ecur�ty Insn-ument is on a leasehald, Borrower shalf comply��,��th the provisions of the lease. !f Borro�ver acqun-es fee title to the Property, the leasehoid and fae t�tle shat] not be mer�ed unless :.ender agrees to the merger m writin�. 6. Condsmnation.The proceeds of any awa3-d or cIaim for damages, direct or consequential, in connection ��ith any condemnation or other ta]<in� of any part of the Property, or for conveyance in place of condemnation. are hereby assigned and sl�all be pa�d to Lender to the extent of the fu(I amount of the indebtedriess that remams unpa�d under the ivote and this 5ecurity (nstru7nent. Lender sha.11 apply such p�roceeds ta the reduct�on vf the indebtedness under the No#e and this Securiry [nstrument. Tirst to any delinquenT a}nounts applied in the order provided�n paragraph 3,and then to prepayrnent of princSpal. Any application ofi the proceeds to the princ�pal shalt not extend or postpone the due date of the moizt�ily payments, which are referred to 1n Uara�i�ph 2, oi-'`chan�e the amount of such paymenis. Any excess proceeds over an ar��ovnt requn'ed to pay al] outstanding indebtedness �under the Note and th3s Security Instruinent shall be paid to tl�e entity 1e�ally entitled thereto. 7. Chargesto Borrowerand Protectionof Lender'sRightsin the Property.Sorrow-c:-shalt pay all �overnrnental or mimic�pai charges, t�nes and impositions that are�3ot inci��ded in �ara�,raph 2. Borrower shall uay these obiigat�ans on time directly to the ent9ty��h9ch �s oc��ed the payment. If failure to pay would adverseiy affect t,erider's interest 1n the Praperty, upon Lender's req�iest Borro�ver sl�all promptly fut-nish to Leiidec receipts evidenc�ng these payments. If$orrower fails to mal<e these payments or the payments re�tnred by paragrapi�2,or faits to perfor�n any other covenants and agreements conta�ned in this Security instrume3�t, or there �s a legai proceeding that may significantly affect Lende:'s r�ghts in the Property i such as a proceedinp in Uanla-uptcy. for�ondemnation or Yo enforce Iaws or r��ulations}, then Lender rnay do and pay whatever ls necessary to protect tl�e value of the Property and Lender's r7ehts in tl�e !'rogeiTy, inciuding payment of taxes,]iazard insurance and otlier itetns mentioned tn paragrapn 2. FtiA�eed o/Trust-NE 4/96 VMP� VMPAR(NE)(11C5).DO Wolters Kluwer Financfal Services Page 4 of 10 �� �