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201210500 monthly payments H-hicli are referred to in paragraph 2, or c}��nge the amount of such pa}anents. Any excess insurance proceeds over an amounC required to pay all outstanding indebtedncss under the A'Vote and tlus SecunTy ineWment shall be paid to the entity legally entitled thereto. [n the eti�ent of foreclosurc of this Security Insuument or otl�er transfer of titic lo the Properiy that extinguishes the indebtedness, all righy title and interest of Borrower in and to insurnnce policies in force shall pass to the purchaser. 5. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's loan Application;LeaseholdsBorrower sliall occupy, esrablish, and use the Property as Borrower's principal residence witlun sixty daps after the execzation of this Secunt� Instrument(or withiu sis[y days of a latec sale or transfer of the Property)and shall continue to ocaipy the Pmperty as Bo�rower's principal roside��ce for at least one year after t6e date of occupancy, wfless Lender determines that cequirment�cill canse undue h�rdship for eoiro�r•er, or unless ehtenuating circumstances exist�vhich are bevond Borrower's control. Bormwer st�ll uotifv Lender of any extemiating crrcumstances. Borrower shall not commit�aste or destroy, damage or substantially change the Properh or allow the Propem- to de[eriorate, reasonahle wear and tcar excepled. Lender may inspect the Property if the Property is cacant or abandoned or the loan is in default. Lender may take reasonable ac[ion to pmtect and preserve such�acant or abandoned Propert}. Borm�icr shall also be in default if Bonower, during the loan application process, gare materially false or inaccnr�te information or statements�.o Lender(or failed to pro�ide Lender with azry material infomiation) in connection«�ith thc loan evidenced by ttie'Vote, including,but not limited ro, represen4�tions conceming Borro«�er's occup�ncy of tUe Property as a pri�cipal residence. If thrs Sccurity lnstmment is on a Ieasehold, Bormwer shall comply �ith the pmvisions of the lease. If Borrorcer acquires fee ritle to the Property,the lzasehold a�id fee title sl��ll not be merged unless Lender agrees to ttie merger in��nting. 6. Condemnation.The proceeds of any award or claim for damages,direct or consequential,in connection with�np condemnatim�or other taking of any part of the Properh-, or for comeyance in place of condemnation,are hereby assigned and shall be paid lo Lender to the e�-tent of the full amount of thc indebtedness that remains unpaid nnder ffie Note Tnd this Security lnsuument. Lender shall apply such proceeds to the reduction of the indebtedness under the Note and this Security lnstmment, fiist to anj delinquent amonnts�pplied in the order pmvided in paragraph 3, and then to prepa�ment of principal. 9ny application of the proceeds to the principal shall not extend or postpone the due date of the monthl�� payments, which�re referred to in paragraph 2, or cliange the amount of such payments. An} excess proceeds over an amount reqnired to pay all outslanding indebtedness under the Note and this Securitp Inshument shall be paid to the entity legally en[itled Y6eretn. 7. Chargesto Borrowerand Protectionof LendePsRightsin the Property.Bormwer shall pav all governmental or municipal charges, fines and impositions that are not included in paragraph 2. Borrower shall pay ihese obligations on time direcUp to the enrity which is owed the payment. If failure[o pay would adversely affect L,ender's interest in the Property, upon Lender's request Bono��er shall promptly fiimish to Lender receipts evidencing these payments. Lf Bormwer Cails to make thesc p�yments or thc papments required by pangraph 2, or fails to perform any other covenants and agreements contained in this Security [nstrument, or there is a legal proceeding that mav significa�rtly affect Lender's dghts in the Property (such as a proceeding in bankmptcy, for wndemnation or to enforce la�;s or regulauons), then Lender may do and pay whatever is necessarv to protect the value of the Propeny and Lender's rights in the Pmpeny, including payment of taxes, har.ard insurancc and othcr itcros mentioned in parag�apL 2. FHA�eed of TmsFNE 4/B'u VMP 9 VMP4R(N6�(1105]00 Wolters Kluwe�Flnanclal Sarvlces Page 4 of 10