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201302189
<br /> LOAN#:0000362223
<br /> if Lender still held the Security Instrument, each monthly payment shall also include either: (I) a sum
<br /> for the annual mortgage insurance premium to be paid by Lender to the Secretary, or(ii) a monthly
<br /> charge instead of a mortgage insurance premium if this Security Instrument is held by the Secretary.in a
<br /> reasonable amount to be determined by the Secretary.Except for the monthly charge by the Secretary,
<br /> these items are called'Escrow Items'and the sums paid to Lender are called"Escrow Funds.'
<br /> Lender may.at any time,collect and hold amounts for Escrow Items in an aggregate amount not to
<br /> exceed the maximum amount that may be required for Borrower's escrow account under the Real Estate
<br /> Settlement Procedures Act of 1974, 12 U.S.G. Section 2601 et seq.and implementing regulations. 24
<br /> CFR Part 1024,as they may be amended from time to time("RESPA),except that the cushion or reserve
<br /> permitted by RESPA for unanticipated disbursements or disbursements before the Borrower's payments
<br /> are available in the account may not be based on amounts due for the mortgage insurance premium.
<br /> If the amounts held by Lender for Escrow Items exceed the amounts permitted to be held by RESPA,
<br /> Lender shall account to Borrower for the excess funds as required by RESPA. if the amounts of funds
<br /> held by Lender at any time is not sufficient to pay the Escrow Items when due, Lender may notify the
<br /> Borrower and require Borrower to make up the shortage as permitted by RESPA.
<br /> The Escrow Funds are pledged as additional security for all sums secured by this Security Instrument.If
<br /> Borrower tenders to Lender the full payment of all such sums,Borrower's account shall he credited with the
<br /> balance remaining for all installment items(a),(b).and(c)and any mortgage insurance premium installment
<br /> that Lender has not become obligated to pay to the Secretary,and Lender shall promptly refund any excess
<br /> funds to Borrower.Immediately priorto a foreclosure sale ofthe Property or its acquisition by Lender,Borrower's
<br /> account shall be credited with any balance remaining for all installments for items(a),(b).and(c).
<br /> 3. Application of Payments.All payments under paragraphs 1 and 2 shall be applied by Lender
<br /> as follows:
<br /> First,to the mortgage insurance premium to be paid by Lender to the Secretary or to the monthly
<br /> charge by the Secretary instead of the monthly mortgage insurance premium;
<br /> Second, to any taxes, special assessments, leasehold payments or ground rents, and fire, flood
<br /> and other hazard insurance premiums as required;
<br /> Third,to interest due under the Note;
<br /> Fourth,to amortization of the principal of the Note;and
<br /> Fifth,to late charges due under the Note.
<br /> 4. Fire,Flood and Other Hazard Insurance.Borrower shall insure all improvements on the Property,
<br /> whether now in existence or subsequently erected, against any hazards, casualties, and contingencies,
<br /> including fire,for which Lender requires insurance.This insurance shall be maintained in the amounts and
<br /> for the periods that Lender requires. Borrower shall also insure all improvements on the Property,whether
<br /> now in existence or subsequently erected,against loss by floods to the extent required by the Secretary.All
<br /> insurance shall be carried with companies approved by Lender.The insurance policies and any renewals shall
<br /> be held by Lender arid shall include loss payable clauses in favor of,and in a form acceptable to,Lender.
<br /> In the event of loss, Borrower shall give Lender immediate notice by mail.Lender may make proof
<br /> of loss if not made promptly by Borrower.Each insurance company concerned is hereby authorized and
<br /> directed to make payment for such loss directly to Lender instead of to Borrower and to Lender jointly.All
<br /> or any part of the insurance proceeds may be applied by Lender.at its option either(a)to the reduction
<br /> of the indebtedness under the Note and this Security Instrument,first to any delinquent amounts applied
<br /> in the order in paragraph 3.and then to prepayment of principal,or(b)to the restoration or repair of the
<br /> damaged Property.Any application of the proceeds to the principal shall not extend or postpone the
<br /> due date of the monthly payments which are referred to in paragraph 2,or change the amount of such
<br /> payments.Any excess insurance proceeds over an amount required to pay all outstanding indebtedness
<br /> under the Note and this Security Instrument shall be paid to the entity legally entitled thereto.
<br /> In the event of foreclosure of this Security Instrument or other transfer of title to the Property that
<br /> extinguishes the indebtedness,all right,title and interest of Borrower in and to insurance policies in force
<br /> shall pass to the purchaser.
<br /> 5. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's
<br /> Loan Application;Leaseholds.Borrower shall occupy,establish,and use the Property as Borrower's
<br /> principal residence within sixty days after the execution of this Security Instrument(or within sixty days
<br /> of a later sale or transfer of the Property) and shall continue to occupy the Property as Borrower's
<br /> principal residence for at least one year after the date of occupancy, unless Lender determines that
<br /> requirement will cause undue hardship for Borrower, or unless extenuating circumstances exist which
<br /> are beyond Borrower's control.Borrower shall notify Lender of any extenuating circumstances.Borrower
<br /> shall not commit waste or destroy.damage or substantially change the Property or allow the Property to
<br /> deteriorate.reasonable wear and tear excepted Lender may inspect the Property if the Property is vacant
<br /> or abandoned or the loan is in default.Lender may take reasonable action to protect and preserve such
<br /> vacant or abandoned Property.Borrower shall also be in default if Borrower,during the loan application
<br /> process. gave materially false or inaccurate information or statements to Lender(or failed to provide
<br /> Lender with any material information)in connection with the loan evidenced by the Note,including. but
<br /> not limited to,representations concerning Borrower's occupancy of the Property as a principal residence.
<br /> If this Security Instrument is on a leasehold, Borrower shall comply with the provisions of the lease. If
<br /> FHA Nebraska Deed of Trust-4/96 Initials:
<br /> Ellie Mae,Inc Page 3 of 7 NEEFHADE 1212
<br /> NEEFHADE
<br /> 03/05/2013 11 52 AM PST
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