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<br /> from time to time("RESPA"),except[hat the cushion or reserve permitted by RESPA furuuanticipzted disbursements
<br /> or disborsements 6efore the Borrower's payments are available in Ihe accoont may not be based on amounts due for
<br /> the mortgage insurancc premium.
<br /> If the amounts held by Lender for H'scrow Items exceed the amounLs permitted to be held by RF.SPA, Lender shxll
<br /> account to 6orrower for the excess funds as reqaired by RESPA. If the amuunls of funds held by L,ender at nny time
<br /> are not sufficient to pay the Escrow Items when due, Lender may notif'y the Borrower and require Bormwer to make
<br /> up the shortage as permitted Ly RESPA.
<br /> The Escrow Ftmds are pledged as addi(iona] security for all sums secured by this Securily Instrume�t. If
<br /> Borrower[enders ro Lender the fiill payment of all such sums, Borrower's account shall be credited wilh Lhe balance
<br /> remaining for all installment items(a), (b), and (c) and any mor(gage insurance premium installmenf thal Lender has
<br /> not become obligated to pay to the Secretary, and Lender shall promptly refund any excess fimds to Borrower.
<br /> Immediately prior to a foreclosure sale of Ihe Property or i[s acquisition by Lender, Borrower's account shall 6e
<br /> credit�d with any balance remaining for a11 installments for i[ems (a), (b); and (c).
<br /> 3. Application of Payments. All pay�r�ents under paragraphs 1 and 2 shall be applied by Lender as follo�vs:
<br /> FIRST, to [he mortgage insurance premium to be paid by Lender to the Sea�e[ary or ro the monLhly charge by
<br /> the Secretary ins[ead of the monthly morgage insurance premium;
<br /> SECOND, to any taxes,special assesstnents,leasehold payments or ground rents,and fire,flood and other ha�ard
<br /> insurance premiums, as required;
<br /> THIRD, ro interes[due under the Note;
<br /> FOURTH, to amortization of the principa] of the Nute; and
<br /> FIFTH, to late charges duc undcr the Note.
<br /> 4. Fire, Flood and Other Hazard Insurance. Borrower shall insure all improverricnts on the Proper�y,
<br /> whether now in existe��ce or subsequendy erected,against any hazards,casualties, and con[ingencies, including fire,
<br /> for which Lender requires irisurence. Th3s insurance shall be maintained in the amuunts and for the periods [hat
<br /> Lender requires. Borrower shall also insure xll improvemen[s on the Property, whether now in existence or
<br /> subsequently erected,agains[loss by tlonds ta ihe exLen(required by the Secretary. All insiirancesha116e carried with
<br /> companies approved by Lender. 'l�he insurance policies and any renewals shall be he�ld 6y Lender and s}iall include
<br /> loss payable dauses in favor of, and in a fonn.acceptable to, Lender.
<br /> In the event of]uss. Burrower shall give Lender immediate notice by mail. Le�ider may make proof of loss if not
<br /> made promp8y 6y Bormwer. Each insurance company concerned is hereby aathorized and directe�d to make payment
<br /> for soch loss directly ro Lendec, instead uf tu Borrower and ro Lenderjointly. Ali or any par[ of the insorance
<br /> proceeds may be applied by I,ender, at it�uption, ei[her (a) to the reduction of[he indehtedness under the Note and
<br /> this Sewrity InsVument, firs[to any delinquent amuunts applied in[he order in paragraph 3, and theu to prepaymen[
<br /> of principal, or (b) to the res[oralion or repair of the damaged Pmperty. Any application of the proceeds Co the
<br /> principa]s}iall not extend or postpone the due date of the monthly payments w}�ich are referred ro in paragraph 2, or
<br /> change Lhe amount of such payments. Any exeess insurance proceeds uver an amouiit required to pay all oulslanding
<br /> indebledness under the�Note and d�is Security Instrument shall be peid lo lhe entl[y legally cntided thereto.
<br /> In the event of foreclosuie of this Security Ii�stniment or other Irar�sfer of title to tl�e Property that extinguishes the
<br /> indeb�edness, all right, [itle and interesi of Borrower in and lo insuranc�e policies in force shall pa�tu lhe purchaser.
<br /> 5. Occupancy,Preservation,Maintenance and Proteclion of d�e Property;Borrawer's Loan Application;
<br /> Leaseholds. Borrom*er shall occapy, Pstablish, and use lhe Properry as Borrower's principal residence within sixCy
<br /> days afLer the execution of this Secw�ty Instrument (or within sixLy days of a later sale nr transfer of Lhe Property)
<br /> and shall continue to occupy the Yroperry as Borrower's principal residence for at leasP one year after the date of
<br /> occupancy, unless Lender determines lhaL reyuirement will cause undue hardship for Bon�ower, or unless exPenuating
<br /> circumstances exist which are beyond Borrower's control. Borrower shal] notify Lende�r of any extenuating
<br /> circumstances. Borrower shall not commi[waste or destmy, damage or subslautlally change the Prnperty or allow
<br /> the Property to deteriorate, reamnable wear arid tear excepLed. Lerider may inspect Che Property if the Property is
<br /> vacant or abandoned or the]oan is in defaulL Lender may[ake reasonable action to protec[and preserve such vacant
<br /> or abandoned Property. Bon'ower shall also be in default iF Bon'owcr, daring the loan applica[ion process, gave
<br /> FHA NEBRASKA DEED OF TRUST - MERS DocMaglcE�'r.e.txnnts�
<br /> NEUOTZ.FHA 07l03l12 Page 3 of 9 www.docmagiccom
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