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��14�411� �n the e�ent of 1oss,Borro�ver sha��giv�Lender immediate notic�by mail. Lender may make proof of loss if not made pramptly by$orro�ver. Each insuirance company�oncerned is hereby authorized and directed to mal�e payment for suc��ass duectly ta Lender, instead af to Borrower and to Lender jointly. A��or any part of the insurance proceeds ri�ay be applied by Lender,at its option, either(a}to the reductian�f the in�e�btedness under the Note and this 5ecurity I�strument, first to any d�linquent am�unts applied in�he order in paragraph 3,and then ta prepayment af princ�pal,ar(b}to the restoration or repair of the damaged Praper�y.Any app�icatian of the proceeds�o the principal sha11 not extend or p�stpone the due date of the monthly payments�hich are referred tv�n paragraph�,or change the amount of su�h payments.Any excess insurance proceeds o�er an amaunt required to pay a11 outstanding indebtedness under the Note and this Security Instrument shall be�a�d to the entity Iegally entitled thereto. In the event of foreclosure af this Security Instrument or other transfer of titl�to the Property that extinguishes the indebtedness,all right,title and in�erest of�orrower in and to insurance policies in force sha�l pass�o�he purchaser. 5. �ccupancy, PF��ervation, Maintenan�e and Protection of the Property; 8orrower's Loan App��cat�on;Lea�eholds.Borrower sha��occupy, e�tab�i�h, and us�the Property as Bor�'ower's principal r�sidence�vi�hin sixty days after�he execution af this Secur�ty Instrument�ar w��hin sixty days�f a later saie or tran�f�r of the Pr�perty)and sha�l continue to occupy the Property as Bvrrower's principal res�dence for at least a�.e year after�he date of accupancy,unless Lender determines that requir�ment�vi11 cause undue hardship for Borrower,or unless extenuating circumsta.nces exist which are beyond Borra�ver's control. Borr�wer shall natif�Lender af any extenuating circumstanees. Borrower shall not c�mmit waste or destroy, damage vr substantially c�.ange the Pr�perty or allow the Praper�y to deteriorate,reasonable wear and tear excepted. Lender may inspect the Prvperty if the Progerty is�racan�or abandaned or the loan is in default. Lender may�ake reasonab�e action�a prot�ct and preser�e such�acan�or abandon�d Propert�r. Barrower shali a�so be in default if Barro`uer,du�ring the loan applicatxon pracess,ga�re materially false or�nac�urate infarmation or statemen�s t�Lender(ar failed to provide Lender with any material information}in connecti�n tivith the loan evidenced by the Note, in��uding,but not limited to,representations concerning Borrower'�oc�upanc�of th�Property as a princip�l residence.If this Security Instrument i�on a leasehvld, Borrawer sha��comp��with the provis�ons of the lease. �f Borro�er acquires fe��e to the Property,the leaseho�d and fee�itle sha��not be merged un�ess Lender agrees ta th�merger in writing. �. Condemnation.The proceeds of any award or claim for damages, direct or cons�quen��a1, in Gonnection with any condemnation or o�her taking of any part of the Property, ar far conveyance in p�ace of condemn.atifln, are hereby assigned and sha11 be pa�d to Lender to the ext�nt of the full amount of the indebtedness that remains unpaid under the Nate aad this Security Instrument. Lender sha11 apply such proceeds to the reduction of the indebtedness under the Note and�his Security Instrument, fir�t�o any de�inquen�t amauats applied in the order prov�ded ir�paragraph 3, and then to prepayment of principal.Any application of the proceeds�o the principal�ha�t nat�xtend ar postpone the due date af the monthly payments,which are referred ta in paragraph 2,or change the amount of such payments. An�r excess groceeds o�er an amount requir�d t�pay a11 outsta.nding in�lebtedness under the Note and�his Secu.r�ty �nstrum�nt shall b�paid to the entity 1ega11y entitled�hereto. 7. Char�estv Borrvwerand Prote�t�vnof L+ender's R��hts in the Property.Borrow�r shall pay a11 governmental or municipal charges, fines and�mpositions that are aot included�n paragraph�. Borro�ver sha11 pay these obligations�n��me directly ta the entity which is owed the paym�nt, �f Failure�o pay would adversely affect L�nder's int�rest in the Property, upon Lender's request Borrower sha�l promptly furnish�o �.ender rec�ipts evidencin�these payments. If Bonower faits to make these payments a�r the payments required by para�raph�,or fails to perform any other covenants and agreements contained in this Security Instrument,or there is a legal proceeding that may FHA Mortgage WITH MERS-NE Re�ised 419fi VMP� VMP4N(NE)(13�2).� Wolters Itluwer Fina�cial Servi�es Page 4 af�D q�3323328�13 ��33 44� �41� .