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201209931 Tn the evertt oFloss, Borrowcr shall give Lender immediatc notice by maiL Lender n�ay nia�:e proot'of loss if na!m:�dc promptly by Borroiver_ �ac11 iiisurance 4umpuny concerne{3 is here6y authnrized and directed tn mttke paymenl I'c�e s�ch ]nss directly Ln T.ender, [nstead of to Borrowcr and ta Lender jofntly_ All or any part oftltc ins�erancc procceds may be applied by Lender_ at ets opfion. eil[�er(a) to tlie reducLion oPtlic indcbtedness under Llte Note and ti�is Security Instrumenl, erst Lo any clelinyuent amn�nls:cpplied in thc urder in p�ragraph 3, ❑nd ihen t.n prept3ymcnt oP principal, or(h)to thc restoration or repair of the damaged Property_ Any application al'the proceeds to the pr9ncipa[ shall not etitend o�• postpone the due dake pf the monthly pay�nents�vltioli arc;reii:rre�3 tu in para�raph 2, or change the amount of such pnyments. Any excess insurance prnceeds ovcr an amouni required to pay all outstariding incEebLedness under the Note and this Security Instrument shalt be paid to the entity leCally entitled tliereka. In the event.ol'1'orec[os�ire oP this Sec�rity Instr�mcnt ar ather lransfer ai�tiile Lo the Properly that extinguishes tl�e indebtedness, a[l right, tit[e and interest of Borrawer in and Lo insueance palioies in force shal[ pass!o the purchaser. 5. Occupancy, Preservation, Maintenance and Protectian of tt�e Property; Borrower's Loan App[ication; Leasehold5. Barrowcr shalf acc�py, establish, and use the Property as Boreower's principal residcncc witl�in si�ty days aiier the exeaution oftl�is Securily Instrument(or�i�ithin sixly days af a later sale or Lransfer ofthe Property) and shal3 enntinue tn necupy the Property es I3nrrower's principn! residence for nt lenst one year aYter Ehe date oi'occupancy, unless Lender delermines that requirement�vill cause undue hardship for Borrower, or unless e�tenuating circ�mstances exist whicl�are beyond Bprra�ver's cpntral. 13orro�vcr shall notify Lender of'any extenuating circumskances. Bnrrn«�er shnll nnk commit��nst:e or destrny, damagc or su6stanlia[ly change the I'roperty or allo�v lE�e Property to detcrioratc, reasonable�ve�r and lear excepted. Leiider i�iay iiispect tlie Property il'tlie Pruperly is vuc:�nt ur uban�ione�3 or the ivan is in �3efault. I.ender mny talce rensnnnble netion to protcct�nd prescrvc scich vacant or abandoncd Praperry. Borro�ver shall also be in deFauli i!'Borra�t=er, during the loan application process. �ave material[y faEse or inaccurate infarinatio�i o�•stateinents ta Len�ler(�r failed lu provide Lender wiLh any materi:tl information) in eoitnecdan �vith thc laan cvidenccd by the I�ote, including, but not lirr�ited to, rcpresentations concerning Dorrawcr's occupancy of the E'roperiy as a principal residence. lf tiiis Security Fnst3vment is on a leaseho[d, Rurrawer shull cumply �vilh the provisions of'the]ease. IPT3vrrn�ver acc�uires fee titic ta the Property, the leaseEiald nnd fee litle slinll not be mergcd untess Lendrr a�rccs to tltic mcrgcr in writing. 6_ Condemna#ion. Tha proceeds oFnny nwcrrd nr clnim for deun��cs, dircct or conscqucnti7l, in conncction «�ith any condemnation or otE�er taE:ing of any part ofthe Propert}•, or for conveyance in place oP cuiiJt�nnu�iun, �ru h4ruUy asai�nea!uncl shai[ b�paicl to Lender to tl�e etitent of the full amuunl of Lhe indehtedness that remains unpnid under the Nnte nnd this Security Instrtiment. Lender shnlE npply s��ch pracecds to the reduction of the indebtedness uncfer the Note and this Security lnslrument, first to any delinqueii[amau�its a�plied i�1 t11e order pruvi�3e�1 in para�raph 3, ana then ta prepayinenl al'Eari[�ci�aal. A�iy applicatinn nf the prnceeds tn the principal shnll nnt e�tend nr pnstrnne the due date nf the mnntlzly payments, which are referred to in paragraph 2, or change lhe amaunt nf sucii payments. Any excess procecds over an amoun[required to pay all oucstandinc indebtedqess wider U1e Note and[l�is Secm•iEy Insirument shall be paid to the entity legally entitled thereEo. 7. Charges ta Borrower and Protection of Lsnder's Rights in the Property. Borrower shnll �ay al[ governmental nr mcinicipnl charges, fines�nd imposicions thnt nre nnt included in pnrlgreph 2. Bnrrnwer sliall pay these obligations on time directfy to the entity �vhich is o�j�ed the paymenL IE�lailure to pay would adversely affect Lender's interest in the Property, upon Lender's request Borrower shall promptEy lurnish to Lendcr rcccipis cvidcncing thcsc puymcnts. If Borro�ver Pai[s Eo make these paymenis or the payments required by paraeraph 2. oe !'ails to perlorm any nLher covenants and agreements cantained in this Security Instrumen[, or there is a icgal proaeedin�that may zaiz-ziszaaa iQOO997000t2f}59701 99�5 FHA Mortyage WITH MERS-NE fievised dlBG �/�p p VMP4N(NEy(1109� Wf]IIC�I��UYIcrFin�n��iSeryjcc; 111z11f0�Z 3�:3'IF�M P�1]6R011❑