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��15��797 In the event of loss,Borro�er sha��gx�e Lender imm�diate notice b�ma��. Lender may make praof af�oss if not made promptly b��orro�v�r. Each insurance com.pany concerned�s hereby authorized and directed to make�a}r�e�.t�or such loss directly to Lender, instead af ta Bon�r�ver and ta Lend.er j aint�y.All ar any�art of the insurance proceeds nzay be applied by Lender,at�ts option,either�a}to th�redu�tion of the i�.debtedn�ss under the l�ote and t�.is Security Instrument,first ta any�lelinquent amounts applied in the order in paxagraph 3,and then to prepaymen.t�f prin�ipal,or(b}to the restorati�n or repair of the damaged �roper�.Any app�ication.of the pro�eeds to the pr�nc�pal s�hal�no��xtend o�pos�pone the due dat�af the monthly payments vvhich are referred to in paragraph 2,ar change the amount of such payments.Any excess in.�urance pro�eeds over an.amount required to pay all outstanding ind��edness under the Nate and this Security Instrument sha11 be paid to the entity�egally entit�ed thereto. In the e�ent af farectasure of th�s Security Instrumen�or�ther transfer of title t�the Praperty that extingui�hes the indebtedn�ss,a11 right,title and interest af Borrower in and to in.surance po��cies in force sha��ass to�he purchaser. �. �ccupancy, Prese�vativn, Nlaintenance and Pr�atection of th�e Property; Bar�rovr►er�'s Loan Applica#ion;Leas�holds�arro��r sha11 occupy, establish, and use the Property as�orrawer's principal residence within sixty days af�er the execution of this Security Instrument�vr within sixty days of a later sale or transfer af the Property}and sha�I continue to accupy the Property as Borro�ver`s prin�cipal residen�e for at least one year after the date�f occupanc�,unless Lender determines that requirement�vi�l cause undue hardship for Borro�er,or unless extenuating cir�ums�ances exist which are bey�nd Borr�wer's control. Borrower shall notify Lender of any extenuating circumstaaces. F�orrower sha11 nat comm�t�vaste or destray, damage or substantially change the Praperty ar a��aw the Property to deteriorate,reasonable wear and tear excepted. Le�der may inspect the Property if the Pr�perty�s vacant or a�andoned or the loan is in d�fault. - Lender ma�take reasonable action�o pratect and preserve such�acan�ar aband�ned Property. Borrower sha11 alsa be in default if Borrawer,during the loan application process,gave materially fal�e or inaccurate �nf�rmation or statements to Lender�or failed ta provide Lender�v�th any materia��nformation�in connecti�n with the loan evidenced by the Note, including,but not limit�d to,repre��ntation�concem�ng �arrower's oc�upancy af the Pro�erty as a principa�residence,If th�s�ecurity In�trum�nt is on a I�aseh�ld, �orrower sha�l comply with the provisions of th�lease. If Borrower acquires fee title to the Property,the leasehold and fee ti�I�shat�not be merged unless Lender agrees�v the m.�r�er in�rriti�g. S. Candemnation.The proceeds of any award or cla�m for damages, direct or consequent�a�, in cvnnection �ith any c�ndemnation or Qther ta.ki�.g of any part of the Praper�y, ar for con�r�yance in place of condem�aation, are hereby ass�gned and sha�l be paid to Lender ta the extent of the fu11 amount of the indebtedness that remains unpaid under the Note and this Security Instrumen�. Lender sha11 apply such proceeds to the reduct�on of the indebtedness und�r the Note and this Security Instrument, f�.rst to any de�in�uent amaunts applied in the�rder provide€��n paragraph 3,and then tfl prepayment of principal.Any application af the proceeds to the principal shall not extend or postpone the due date of�he m�nthly payment�,which are r�ferred to in paragraph 2,ar change the amaunt of such payments.Any excess proceeds over an amount required to pay al�aut�tandi.x�g indebtedness under the Note and this�ecurity Instrumen�t sha11 be paid to the entity�ega�ly entitled�her�ta. 7. �hargesto Sorror�►erand'Protectinn�f Lender��Rights in the Property.Borro�er sha��pay aI� governmenta��r municipal charg�s, f nes and impo�itions t�.at are no�included in paragraph 2. BorrQ�wer �ha11 pay these obligations on time directly to the entit�wh�ch is owed the payment. If failure to pay wou�d adverse�y affect L�nder's interes��n.�he Praperty, upan Lender's requ�st Borrovver shall promptly furnish t� Lender receipts evidencing�hese paym�nts. If Borro�rer fails to make these pa�ments or the�ayment�required by paragraph�,,or fails to perform any other co�enants and agreements contained in this Security Instr�ment,or there is a legal proceec�ing�hat may FHA Mortgage WITH MERS-NE Re�ised 419B VMP� VMP4N(NE�}�1342j.44 Wolters Kluwer Financial 5ervices Page 4 of 10 q�333487D343 �z33 374 �41Q