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��14�345� In the event of 1oss, Borrower shall give Lender immediate notice by mail. Lender may n7a�e proaf�f loss if �ot made prorrip�iy by Barrower. Each insurance company cancerned is hereby autharized and dir�c�ed ta make payment far such loss direetl�r ta Lender, �n�tead of to�orro�er and to Lend�r j�i�a�ly.All or an�part af the insurance proceeds may be app�ied by Lender, at its option, e�th�r(a)to the reductian of the indebtedness under the Note and this Securit�In�trument, first to any delin�uent amounts applied in the order in paragraph 3,and then to prep�.ymen�of pr�ncipal,or(b)to the restoration or repair�f the damaged Prop�rty, Any application of the proceeds to the principa�shai�no�extend or postpone the due dat�of the mQnthly�a�ments�h�ch are referr�d ta in paragrapl�2,or change th�amount of such payments,Any e��es� insurance proceeds a�er an amount required to pay al�a�tstan�ing�ndeb�edness u�der the Note and thi� Security Instrument sha�l be paid to the entity�egal�y entit�ed thereto. I�.the e�rent of forec�osure of this Securi�Ins�rumen�or other�ransf�r of�itle to�h�Proper�r t�.at extingu�shes the ir�d�btedness,a�t r�ght,title and�nterest of Borro�ver rn and to insurance po�ic�es in force s�.all pass to the purchaser. 5. C�ccupanc�, Preservat�on, llAaintenan�e an�! Pr�o�ection �f the Property; BorrQwer's Loar� Ap p I i cati o n;Leaseh o I ds J3orrower shall occupy, estab lish, and use the P�roper� as Borrotiver's principal r�s�dence within srxty da�s a�ter tne exe�utxon of�hrs�ecu�i��nstrurr�ent�or�vrthi�x s�xt��ays of a�a#er sa�e or transfer of the Proper�y}ar�d shall cont�nue to occupy the�'roperty as Borrower's principal res�dence for at least one year after the dat�of�ccupancy,unless Ler�der determines that requireme�t will caus�undue hardsh�p for Boxrawer,�r un�ess ex�enuating circumstances�xist w�.ich ar�b�yana.�orro�ver's eor�tra�. Borrower shall notify Lender of any extenuating circumstances. Banovver shall not commit waste or destroy, damage or substantially change the Property�r al�ovv�he Property to deterior�.te,reasonable vvear and tear excep��c�. Lender may inspect the i�roper�y if the praperty is vacant ar abandoned or the�oan is in default. Lender may ta�e reas�nable action to protect and preserve such�acan�or abandon�d Praperty. Barrovver sha�l also be in default�f�orrower,during the loan applrcation process,gave material�y false ar inaccurate � i�forma�ion or s�a�ements�o Lender(or failed�o provide Le�der tivith any materia��nf�rmatior�}in cannection wi�h the l�an e�idenced�y the Note, including,but not�im�ted to,representations coneerning Borrovver's occupar�cy of the Property as a principa�residence. If th�s S�curity Instrument is an a leasehold, Borrower sha[�comply with the pra�isians of�he �e�.se. If Borrawer acauires fee�i#�e�a�he I'roper�y,the leaseho�d and fee�i�le sha1�not be merged unless Lender agrees t�the merger in turiting. �. �ond�r�natian.The�raceeds of a��a�ar�or c�a�m fflr da�ages, ��ree�ar�conseq�.��.t�a�, zn ea�.nectiQr� vvith any+condem�.ation or other takin�af any part�f the Prop�rty, or for c�n�eyance in place of condemnation, are hereby as�igned and shal�be paic�to Lender to the extent of th�fu11 amoun�af the i�debtedness t�at rema��s unpaid under the�ot��.nd this Security�ns�rument, Lende�-shat�app��r such pr�ceeds to the reductian af the indebt�dness under the Note and this Security Instrumtent, first t�any delinquent amounts applied in the order pravided in paragraph 3,arid then to prepaymen�of pri�.cipal, A�ay app�ication of t�,e proceeds to the�rincipa� sha1�nat extend or postpQne t�e due date af the month�y p�yments,u�hich are ref�rred to in paragraph 2,or change the amount of such payment�. Any exeess proceeds over an amount requ�red t�pay all outsta�ading indebtedness under the Nate and this Security In�trumen�sha�i be paid to�he en��y 1�gal��entitl�d�her��o. ?. �hargesto Bflrrawerand Prot�ct�onof Lender's Rights�n the Prape�.Borrower sha�l pay all �ov�rnment.a.l ar m.unicipal charges, fines and�m�asitians tha�are not�nclu�led in paragraph 2, Borrower shall pay th�se�b��gations an time directly ta the entity whi�h is o�v�d the pa�ment, �f faiiure to pay�rou�d adver�e�y affect Lender's interest in�he Property, upon L�nder's request I�orro�er sha1�promptly furn�sh�o Len�ler re�eipts evidenc�ng these pa}�rnents. �f Barro�ver fails�o make�h�se payments or the payn��nts r�quir�d by paragraph 2,or fails to perform any �ther co�enants and agreements conta.ined in this S�cur�ty�nstrument,or ther�is a legal proceeding that may FHA iU�ortgag�WlTH MERS-NE Re�ised 419fi VMP C�7 VMP4lV{h!E}�1342}.qQ Walters Kluwer Financial 5ervices Pa�e 4 of 10 �a3�zsl�z�� az�3 3�Z o�s�