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��14�5757
<br /> CASE #: NE32133355fl3703 �QC ID #: ********3522Q8014
<br /> Lender,Borro�ver's accvunt shall b�credited with any�aiance remain�ng for aI�insta�lments for items �a},
<br /> tb},and (c}.
<br /> 3. Application of Payments.A�1 payments under paragraphs � and �sha�l b�applied by Lender as follovWs:
<br /> First,to the mortgage insurance premium to be paid�y Lender to the 5ecretary or�a the monthly charge by
<br /> th�5ecretary instead of the rnonthly mortgage insurance prernium;
<br /> Second, t❑ any taxes, special assessments, �easehald payments or graund rents, and fire, flood and other
<br /> hazard insurance premiums,as required;
<br /> Third,to interest due under th�Note;
<br /> Fvurth,to amortizatian of the principal of the Note;and
<br /> Fifth,to late charges due under the N�te.
<br /> 4, Fire, Flood and ather Hazard InSurance. Borrower shall insure a11 improvements on th� Property,
<br /> Wvhether now in existence or subsequent�y erected, against any hazards, casua�tties, and �ontingencies,
<br /> inc�uding f�re,for whi�h Lender requires insuran�e. This�nsurance shall he maintained in the am�unts and
<br /> for the periods that Lender requ�res. B�rrovver sha11 a1s❑insure all improvernents on the Property,whether
<br /> now in exist�nce ar subs�quently erected,against loss by flvods t❑the ext�nt required by th�Secretauy. All
<br /> insurance shall be carried with c�mpanies approved by Lender. The insurance policies and any renewals
<br /> sha�l be held by Lender and shall include �oss payable c�auSQs in favor ❑f, and in a form ac�eptable to,
<br /> L�nder.
<br /> In the event af lvss,Borrower shall give Lender immediate notice b�mail. Lender may make pro�f of lass
<br /> if n�t mad�promptly by Borrower. Each insuranc� company concern�d is hereby au�horized and dire�ted
<br /> t�make payment for such loss directly t�Lender,instead❑f to Borrovver and to Lender jointiy. A11 or any
<br /> part �f the insurance proceeds may�e applied by Lender, at its option, either �a} t� the reduction ❑f the
<br /> indebtedness under the Nvte and this Se�urity Instrument, first t� any delinquen� amounts applied in the
<br /> order ir�paragraph 3,and then to prepayrnent of principal,or�b}t�the restorati�n or repair of the damaged
<br /> Property. An�application❑f th�prviceeds to the prin�ipal sha11 not ex��nd❑r postpane the due date of the
<br /> monthly pa�ments which are referr�d ta in paragraph z, or change the amaunt of su�h paymen�s. Any
<br /> excess insurance proceeds vvQr an amount required t�pa�aIl�utstanding indebtedness under the Note and
<br /> this 5ecurity Ins�rument sha�l be paid to the entity legally entitled thereta.
<br /> In th� e�ent of foreclosure ❑f this 5ecurity Instrument �r other �ransfer of �itle ta the Property that
<br /> extinguishes the indebtedne5s, a11 right,#itle and interest of Borrvwer�n and ta insurance pv�icies in force
<br /> sha11 pass to the purchaser.
<br /> 5. Uccupan�y, Preser►�ation, Maintenance and Proteeti�n of the Property; Borrawer's Lvan
<br /> App�icatian; Leaseholds. Sarrower sha�l ❑ccupy, establish, and use the Property as Bo�rower's principal
<br /> residence within sixty days after#he executian of ihis Security Instrument ��r wi#hin sixt�days of a later
<br /> sale or transfer of the Praperty}and sha11 cantinue ta occupy the Property as B�rro�ver's principal residence
<br /> for at least vne year after the datQ of oc�upancy, unless Lender de�ermines that requirement wi11 �ause
<br /> undue hardship for Borrower, �r unless extenuating circumstances exist �hich are �eyond BorrovWer's
<br /> con�rol. Borrower sha.�l n�tify Lender vf an�extenuating circumstances. Borrow�r sha11 nat commit wa5te
<br /> or destro�, damage or substantially change the Property or allaw the Pr�perty t❑ deter�orate, reasvna�le
<br /> wear and tear excepted.Lend�r may inspect the Property if the Pr�p�rty is vacant or abandoned ar the lvan
<br /> is in default.Lende�may take reasonable action to protect and preserve such�acant or abandoned Property.
<br /> Borrower shall also be in defauXt if Bflrrawer, during the laan application pr�cess,ga�e material�y false or
<br /> inaccurate information�r statemen�s to Lender �ur failed�❑pravide Lender with any material information}
<br /> in�onnectian with the��an ev�idenced hy the Note,including,but not limited to,representatians concern�ng
<br /> Borrovver's vc�upancy of the Property as a principa�residence.If this Securit�Instrument is on a leasehold,
<br /> MERS FHA Deed vf Trust-IVE
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