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��14�4SS� �n the event of los�,Borr�wer shall gi�e L�nder immed�ate�otic�by mail. Lend�r may make proof�f lass if not made prompt�y by Borrower. Each insurance company concerned i�hereby authori.�ed and duect�d to make payment for such�oss dueG�ly to Lender, instead of to�orrower and t�Lender jointl�.AlI or any part af the insurance proceeds may be appl�ed by Lender,at its aption, either�a}ta the reduct�an af the �nd�btedness ur��ler the�Tote and this See�ri�r Instrun�ent,fx�s�ta any delin�u�n�amount�applied in ti�e ord�r in paragraph 3,and then to prepayment of principa�,ar�b)to the r�storation ar repair of t�.e damaged Property.Any application of�he�r�ceeds to the princ�pal sha11 nat extend or postpone the du�dat��f the monthly payn�ents which are referr�d to in paragraph 2,or change the amaunt of such payments.Any exc�ss insuranc�proceeds o�er an amount requue�to pay al�outstanding indebtedness under�he Nate and th�s Security Instrument sha�l be pa�d to the�ntity�egally cntitled thereto. In the ev�n�of foreclosure of this Seeurity Instrum�nt or other tsan.sfer af tit�e t�th�Pr�perty that �xtingui�he�the indebtedness,a11 righ�,title and inter�st af Borro�ver�n and ta insura.nce policies in force shall pass to the purchaser. 5. �ccup�ncy, Preser�atic�n, alla�ntenance and Protectian of the Praperty; Borrower�s Loan A�p 1 i ca#i o n;Lease h o I d s.�arrower sha11 accupy, es�a.b lish, and use the Prop erty as Borrotiv�r's princ ipa� residence wit�.in sixty days after the executi�n of this 5�curity Instrument�or within s�xty days of a�at�r�a1� or transfer of the Property)and sha11 con��nue ta occupy the Property as Borrawer'�principa�res�dence for at least one y�ar after the da�e of occupancy,un�ess Lender determines that requirement will cause undu� hardship for Borra�ver,or un�ess extenuating circumstan�es exist wh�ch are�eyond B�rrawer's control. Borr�wer shall notify Lender of an�ext�nuating Gircumstances. Borra�rer shall not commit waste or de�troy, damag�ar suh�tantia��y chang�the Prop�r�y ar allaw th�Proper��a deteriorate,reasonable�te�r and tear excepted, Lender may inspect the Property if th�Property is�acant or abandoned or the loan i�i.n.defau�t, Lender may ta.ke reasanable actian to protect and�r�serve su�h�acaat ar abandoned Pr�pe�ty. B�rro�er sha�l also be in defaul�if Borrawer,durir��the laan appticat�on pracess,�ave mat�riall�false ar�naccurate inf�rmation or sta.tements to Lender(or fai�ed to prflvide L.end�r�ith any materia�infarmatio��ux connect�on with th�l�an�videnced by t�.e Note, includin�,�ut n�t limited to,representatians cancerning Borrow�r"s occupanc��f th�Property as a principal resid�nc�. If this�ecur�t�y Instrument is on a�easehv�d, ��rrower sha�l compiy v�rith the pra��sions�f the Ieasc. If Borrower acqu�res fee tit��ta the Praperty,the Ieasehaid and fee titt�shal�not be merged unless Lender agr�es to the merger in�vriting. 6. Gondemnat�on.The praceeds vf any award or Glaim for damages, direct or consequential, in c�n.n.ect�on with any eondemnatian ar other tal�ng Qf any part�f the Property, or for conveyance in place of c�nd�mnation,are hereby assigned and sha�l be paid to Lender to the extent af the fu11 amount of the �ndeb�edness that remains unpaid und�r the Note and this S�curit�Inst�um�nt. L�nder shal�apply such proceeds ta th�reduction of th�indeb�edne�s under the Note and this SC�urity In�trument, first tc�any delinquent amounts applied�n the order prv�ided in pa.ragraph 3,an�then to prepayment af principa�.Any appticati�n of th�pro��eds to the pr�ncipal shall no��xtend or p�stpone the due date af the monthly pa�rments,wh�ch are ref�rr�d to in paragraph 2,or change the amount�f such payments,Any excess proGeeds o�er an amount r�quired t�pay all outstanding indebt�dnes�under the Note and this S�curi_ty Instrument�hall be paid to the entity 1ega��y ent�tled theret�. 7. �harges to Barrawerand Protect�on of Lende�'s Ric�hts in ths Prvp�rty.Barro�ver sha11 p�y a1I governmenta.l or municipal charges, f nes and imposit�on.s th�t are not�nctud�d in paragraph 2. Barro�ver shall pay these obliga�ions on time directly ta the�ntity�hich is owed the paym�nt. If fai�ure t4 gay�vould adversely aff�ct Lender's interest in the Proper�y, upon Lender's request Borro�ver shall promptty furn�.sh to Lender re��ipts eviden�in.g th�se payments. �f�orrawer f�.��s ta make these payments or th�paym�nt�required by pa.ragraph 2,or fai�s ta p�rfarm any o�h�r covenants and agreements contai.ned in this Secur��n.strument,�r th�re is a legal proc��ding�hat may' FHA Mart�ag�WITH MERS-NE Revised 419� VMP� VMP4N(NE��1342}.�0 Wolters Kluwer Financ�ai 5�n►ices Pege 4 of 90 q43� 94141�4 � 3 411 41