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201210800 monthly paymcuts�t-hich are referred to in paragraph 2, or change the amount of such pavments. Any exccss iiisurance proceeds over an aniowit required to pap all outstanding indebtedness under the Note and this 5ecurify Tnstrurnent shall be paid to the entity lcgally entitied thereto. In the event of Foreclosure of this Security Instrument or other t�t�nsfer of title lo the Properh lhat extinguishes the iudebLedness,all riglit, title and inlerest of Borro�scr in and to ixisurance policies in force shall pass io the purch��ser. 5. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan Application;Leaseholds F3orro��er st►aII occupy, estabiish, and use the Propertm� as Borrower's principal residcncc within siat� days after tlie exccution of this Sccurity InstrumenL(or wit}un siaty days of a latcr salc or tr<�nsfer of t1�e Property)and shall continue to occupy the Property as Borro�ver s principal residence for at least one year aftcr thc date oP occupancy,uiiless Lender determines that rcquircmcnt�vill cause undue hardship for Borro�ver, or wlless e�tenuating circumstances esist�vltich are beyond Borrow�er's coni.rol. Borrower shall notify Lender of any extenuatina circuinstances. Borrower shall not coinmit�vaste or destroy, dam�ge or substantially change the Property or allo�v the Property to deteriorate, reasonable wear a�id tear e�cepted.Lender mas-inspect the Properiy if the Propert� is vacant or ab�ndoned or tl�e loan is in default. Lender may take reasanablc action to protect and presen�e such vacant or abandoncd Property. Borrowcr shall also be in deFault iP Sorro�ver,during the loan applicxtion process, gave maleriall_y false or inaccurate iuforn�ilion or st.ttements to Lender(ar failed to provide Le�uler rvith any inateria] information)in connection with the toan e�-rdenced b�� the Note, incli�ding,but not limite:d to, represeutaiions concerning Borrower's occiipancyo uf the Propert_y as a principal residence. I.f this Security Instrument is on a leasehold, Borro�ver shall comply with the provisions of the lease. If'Borrower acquires fee title to the Property, thc leasehold and fee title shall not be merged unless Lender agrees to the�nerger in writing. 6. Condemnation.Thc procecds oF any award or claim for damages,direct or consec�uential,in conncction ��rith any condemnation or other taking of anS-part of the Property, or for conceyance in place of condeinnaiion,are tiereby assigncd and shalt be paid to Leuder to the e�tent of lhe full amount af thc indeUtedness thaY remains unpaid under the Note and this Security�Instrument Lender shall apply such proceeds Lo the rednction of the indebtedness under the Note and this Security Instrument, first to any delioc�uent amoimts applied in the ordcr provided in pa.ragraph 3,�nd then to prepaymcnt of principal. Anj- application of thc proceeds to the principal shall not extend or postpone the due date of the monthl,y payments,�vhicli are referred to in paragraph 2,or chanoe the amount of such payments. Ain c�cess proceeds over an axnount required to pay all outstanding indebtedness under the Note and this Securitv Instrument shall be paid to tlie enkity legally eyrtitled th�roto. 7. Chargesto Borrowerand Protectionof Lender'sRightsin the Property.Borrower shall pay all governmecual or municipal charges,fines and impositions tllat are not included in par�graph 2. Borrower shail pay these obligations on time dircetly to the entity�wtuch is ow�ed the payment. if failure to pay�rould adversely affecl Lender's interest in the Property, upon I.,ender's request Bono«�er shall pro�nptly furnish to Lender receipts evidencing these payments. lfi Bornos�er fails to make these payments ar the payments recluired by parigraph 2,or rails to pertorin any other covei�anls and agreeruents cont<�ined in tluis Seciirity Instrt�rnent,or there is a legal proceeding that may si.gni�ca.ntiv a.ffeci Lender's rig3its in the Property (such�s a procecding in banknxptcy,for condemnation or to enforce la��s or regutations),then Lender may do and pay�c�hatever is necessary to protect the value of the Property and Letider's rights in tlze Property, including payment of taYes, hazard insurance and other items xnentioned iri paragraph 2. FHA Deec!of Trust-NE Al96 VMP C�.' VMPaR(NE)('1105).00 Wolters Kluiver Financial Services Page 4 of 10