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<br /> � BORROWER COVENAN'I'S that Borrower is lawfully seised of the estate hereby conveyed and has the right to
<br /> grant snd convey thc Pr�pe�ty ►u►d that the Property is unencumbered, except for encumbrances of rceord. Borrower
<br /> warrants and will defend generally the tltle to the Property against all clalms and demands, subJect to any encumbrances
<br /> of rccord.
<br /> THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants wi[h
<br /> limltad vnriwtioru byjurisdlction to consdtute a unlform sccurity instrunnent covedng real property.
<br />' UNIPOkM COVL-�NANTS, fiorrowcr and LxnJer �:ovenan[ and agrce as follows, r
<br /> 1. P�ytnax of Princ�pal9 I�neraK +iod We QurEa Horrower shall pay when due'the principal of,and interest
<br /> on,the debt evidenced by thc Note and late charges due under the Notc.
<br /> 2. MootLly Paymeat of Taaa,Inauanoe, imd Utha C6uBa• Borruwer shall include in each monthly payment,
<br /> together with the principal and Interest as set forth in ihe Note and any late charges, a sum for(a) taxes and special
<br /> assessments levted or to be levied against the Property,(b) teasehold payments or ground rents on the Property, and
<br /> (e) premiums for lnsurance required under pxragrnph 4. In any yeaz in which the Lender must pay e mortgage
<br /> isuurance premium to the Secretary of Housing md Urban Development ("Secretary"),or in any year in which such
<br /> pnmium would have been required if Lender stlll held the Security Instrument, each mondily payment shall also
<br /> include elther: (i) a sum for the annual mortgage lnsurance premium to be paid by Lender to the Secretary. or (ii) a
<br /> moathly charge instead of a moitgage insurance premium if this Security Instrument is hetd by the 5ecretary, in a
<br /> re�sonable amount to be determtned by the Secrotary. Except for the monthly charge by the Secretary, these items
<br /> 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 ItPms in an aggregate amount not to exceed the
<br /> maximum tunount that may be required for Borrower's escrow account under the Real Estate Settlement Procedures
<br /> Act of 1974, 12 U.�.C.§2601 et s�ge . and implemcnting regulations, 24 CPR Part 3500,as they may bc amended from
<br /> time to time ('RESPA"),except that thc cushion or reserve permitted by RPSPA for unanticipated disbursecnents or
<br /> diabursement� before the Borrower's payments sue available in the account may not be basod on amounts due for the
<br /> mortgage insurmce premium.
<br /> If the uriounts held by Lender for Escrow Items excocd the amounts pernutted to be held by RESPA, I.ender shall
<br /> s�ccount to 13orrower for the excess funds as requlrect by RESPA. If the amounts of funds held by Lender at any tlme
<br /> are not st►fflcient to pay the Pscrow Items when due. Lender may notify the Bonower and require Botrower to make
<br /> up the shortage as pern�iteed by RESPA.
<br /> 'Ihe Escrow Funds are pledged as additional securiry for all sums secureci by this Security Instn�ment. [f Borrower
<br /> tenders to Lender the full payment of all such sums. Borrower's accounc shail be crcciital witi�ii,e b«;ar,�: r�mair.=ng
<br /> for all installtnent items (a),(b),and (c)and any mortgage insurance premium installment that i.ender has not become
<br /> obligated to pay to the Secretary, and Lender shall promptly refund any excess fiinds to Borrower, lmroodiately prior
<br /> to a forcclosun sale of the Property or its acquisition by[xnder, Bonower's account shall be creditod with any balance
<br /> rnnaining for all installments for items (a),(b), and (c).
<br /> 3. Applic�tion of Prymaoti. All paymrnts under par�graphs l and 2 shall be a�plied by Lender as follows:
<br /> IQ RST, to the mortgage insurance premium to be paid by Lender to the Secretary ur to the monthly charge by the
<br /> Secretary inste�d of tha monthly mortgage insurance premium;
<br /> SEC ND, to eny tiues,specfal assessments� �essetwld payments or ground rents, and fire,floai uid other hazard
<br /> insurance preminms, as requlrod;
<br /> THIRD, to interest due under the Note;
<br /> �URTH, to acnortization of the principal of the Note; and
<br /> PIFTH, to late chuges due under die Note,
<br /> q, plrc�Fbod�od(kher ({��ard Imur�ooe. Borcower shall insure all improvements on the Property, whethcr
<br /> now in existence or subsequently erected, agalnst any hezards, ca�ualties, and contingencies, including fire,for which
<br /> Lender requires insurance. 'Iliis insurance shail be maintained in the autiounts and for the pedods that I.ender
<br /> roquires. Borrower shall also insure all improvements on the Property, whether now in existence or subsequently
<br /> erocted, agminst loss by floods to the extent required by the Secretary. AU insurance shall be carried with wmpaniea
<br /> appmval by Lender. The insurance policies and any rcnewals shall be held by l.ender and shall include loss payable
<br /> clauses in favor of,and in a form accepcable to,Lender. •
<br /> In the evrnt of loss,Bonower shall give I.ender immediate notice by mail. Lender may malce proof of loss if not
<br />= made promptly by Borrower. Esch insurance company concerned is hereby authorized and directed to n�alce pAyment
<br />— for such loss directly to Lender, instead of to Borrower and to Lender jointly. All or any part of the insurance
<br />= proceeds may be applied by Lender, at its option, either (a) to the reductiun of the indebtedness under the Note and
<br /> - thls Se+curity Instrument, first to eny dclinquent amounts applied in the order in paragraph 3,and then ta prepaymcnt
<br /> of princlpal. ur (b) to the restoration or repair of the dsmaged Property. Any application of the proceeds to the
<br /> principal shall not extend or postpone the duc date af the monthly payments which are referred to in paragraph 2,or
<br /> change the a►nount of such payments. Any excess insurance procaxis over ar► amount required to pay all outstanding
<br />— uidebtedness under the Note and this Security [nstrument shall be paid to the entity legally entitlai thertto.
<br /> In the event of foreclosure of this Security [nstrument or other transfer of title to the Propeny that extinguishes
<br /> the indebtedness, all right, title and interest of Bottower in azid to insurance policies in force shall pass to the °
<br /> purchaser.
<br />� S. Oca�pmc,y� Pre+erv�tion. M�inteeu�e aod Protectian of the Propaty� Bono�va'e Lo� Application; _-
<br /> r I,ea�eblds. Borrower shall occupy,establish, and use the Property as l�onower's princ{pal residence within sixtydays .,.
<br /> _�.�_ �_ ... ..,, ..►...��
<br /> after the execution of this Securiry Instrument (01'WIIl11R St7C[Y08Y5 Oi&IsLCi SatC U[ Uai�aicI ��u�c riv�.a.+.�, :....,....�..
<br /> continue to uccupy the Property as Borrower's principal residence for at lcast one year nfter the date of occupancy, '
<br /> unless Lender deternunes that requirement will cause undue hardship for Bonowcr, or unless extenuating `
<br /> circumstances exist which are Ueyond Borrower's control. Borrower shall notify Leuder af any extenuating �
<br /> N�RASKA-FEIA D88D OP TI'tllST �
<br /> o�+rn s��a�,,.iM1.iaoo��v.is� P�ge 2 of 6 _
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