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� • ��14�5��1 i j month�y payments wh�ch are referred to in paragraph 2, or�hange the amount of such payments. Any excess insurance praceeds over an amount required to pay all outstanding indebtedness under the Note and this Security Instn�ment shall be paid to the entity �ega�ly en�itled there�o. In the e�ent of fvreclosure of this Securit� Instrument or vther transfer of title�o�he Propert�that extinguishes the indebte�ness, all right, tit�e and interest of Borrov�er in and to insurance po�icies in farce shall pass to the purchaser. 5. �ccupancy, Preservation, Maintenanc� and Protection of the Pr�p�rty; Borrow�r's Loan Application;L�as�holds�orrower sha�i oecupy, establish, and use the Property as Barrower's principal residenc�within sixty days after the execution of th�s Security Instrument(ar within sixty days of a later sale or�ransfer of the Praperty}and shall continue to vccupy�he Property as Borro�er's principal residence for at least one�ear after the date of occupancy, unless Lender d�termines that re�uiremen�wi11 cause undue har�ship for Borrower, or ur��ess extenuating circumstanees exist�uh�ch are beyond B�rrower's�an�ra�. Borrower sha11 notify Lender of any extenuating circumstances. Borrower shall na�cvmmit wast� or�iestray, damage or substantially change the Pro�erty or all�w the Property to deteriorate, reasanable wear and tear excepted. Lender may inspect the Pro�erty if the Property is vacant vr abandoned or the loan is in default. Lender may take reasonab�e action to protect and preserve such�acant or aband�ned Property. Borrower sha11 also�e in default if Borrower, during the loan application process, ga�e materially false flr ir�accurate inf�rmat�on or statements to Lender(or failed t�pro��de Lender with any ma.�eria1 information}in cvnnection w�th the loan e�iden�ed by the N�te, including,but not limited to, representat�ons concerning Borrvwer's�eeupancy of the Pr�perty as a principal residence. �f this Securi�.y Instrument is vn a leaseho�d, Barrower shal�comply with the pra�isians af the lease. If Borrower acquires fee title to the Property, the leasehv�d and fee title shall not be merged unless Lender agrees to the merger in writing. S. Cond�mnat�an.The proceeds of any a�vard or c1a�m far damages,d�re�t or c�nsequential,in conne�ti�n wxth any condemnation or��her�aking af any part of the Property, ar for con�eyance in place of condemnation,are hereby assigned and shall be pa�d t�Lender to the extent of the fu1�amount�f the indebt�dness that rema.ins unpaid under�he Note and this Security Instrument. Lender sha11 apply such ' prviceeds to the reduction vf the indebtedness under the Note and�h�is Security Ins�rument, first ta any delinquent arnounts apglied in the order provided in para.graph 3,and then t�prepayment af principal. Any applicatian of the proceeds to the principal sha�l not extend or postpvne the due date of the monthXy payments, which are referred to in paragra.ph 2, or change the amount af such payments. Any�xcess prviceeds o�er an amoun�required to pay a�I autstanding indebtedness under the Note and th�s Security Instrument sha.�l be paid to the entity 1ega11y entitled thereto. ?. �hargesto Borrowerand Protection�f Lend�r's Rights in the Property.Barrower sha�l pay a1X go�ernmental or mu�ucipal charges, fines and imposi�ions that are no�ineluded in paragraph 2. Borrower shall pay these ob��gations on time diree�ly tv the entity wh.ich is owed the payment. If failure to pay wou�d adversely affe�t Lender's interest in the Property, upan Lender's request Borrower sha11 prompt�y furnish ta Lender receipts��idencing these payments. If Borrower fai�s to make these payments�r th�payments required by para.gra.ph�, or fails�o perform any other co�enants and agreements contained in this Security Ins�rument, or there �s a lega�proceeding that may significantly affect Len�ler's rights in the Property (such as a proceeding in bankruptcy,for condemnat}�n or to enforce laws or regulations�, then Lender may da and pay whatever is necessary��prote�t the va�ue of�he Property and Lender's rights in the Property, inc�uding�ayment of taxes, hazard insurance and other items mentioned rn paragraph 2. FHA Deed of Trust-NE 4�g� VMP C� VMP4R(NE}(1302}.OQ Wolters K#uwe�Financial Services Page 4 of 10