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��15�13�� In the event of�oss,B�rrower shall give Lender immediate natice by mail. Lender may ma,ke proof of loss if �.ot ma�e pro�ptly by�orro�ave�.�a�h insura�ce eo�pan�r c�n�c�rned is h�reby autharized and directed t� make payment for such loss directly to Lender,instead af t�Borrower an�l to Lender jointly.A11 or any part of the insurance proceeds may be applied by Lender,at i#s option, either(a)to the reduction of the i�.debt�dness under the l�ote and thi�Se�curity Instrurr�ent�f�st to any delinquent amounts applied in the order in�ar�.graph 3,and then ta prepayment of principal,or�b}to the restoration or repair of the damaged Properl.y.Any application of the proceeds t�the principal sha11 not extend or postpone the due date of the rr�o�thly payments which are referred to in paragraph 2,ar change the amQunt of such payments.Any excess �nsurance proceeds o�er an am�unt requvred to pay a11 outstanding indebtedness under the Nate and this Securit�Instrument sha�l be paid t�the ent�ty lega��y entitled thereto, In the event of foreclosure of this Secur�.ty Instrum�nt or other transfer of title to the Property that extinguishes the iaadebtedness,a11 right,tit�e and interest of B�rrower in and to insurance poli�ies in force shal�pass to the purchaser. � 5. �ccupancy, Preserva#ion, Maintenance and Protection of th� Prvperty; Barro►�ver's Loan Appli�tion;L+easehofdsl3onower sha�l occupy, establish, and u�e the Property as Borrower's pr�ncipal residence wrth�,n sixty days after the execution�f this Security In�trument�or within sixty days of a later sa�e ar�ransfer of the Property)and shall continue to occupy the Proper�as Borr�wer's principal residenc�for at least one yea,r after the date af accupancy,unless Lender determines that requirement will cause undue ha,rdship for Borro�ver,or unless extenuating circumstan�es exist which are b�yond Barrower's control. Borrower shall no�ify Lender of an.y extenuating circumstances.Borrower shall aot commit waste or des�ro�, damage or substant�ally change the Property or a��ow the Praperty to deteriorate,reasonable wear and tear excepted. Lender may insp�ct the Property if the Proper�is vacant or abandon�d or the laan�s in defau�t. Lender may take reasanable act�on to protect and preserve such vacant or abandoned Praperty. Barro�er shal�also be in defau�t if Borravver,during the�oan appl�cat�on process, gave materially fa�se or inaccurate . xnformatinn or statements to Lender(or failed to pravide Lender wit�a any materia�information}in connection with the�oan evidenced by the Note�including,but not 1�mited ta,representations�oncerning Borrawer's occupancy af th�Froperty as a principal residence. If this Security Instrument is on a leas�hold, Borrower sha�l comply with the provisi�ns of the lease. If Borrower acquires fee title ta the Property,the ��aseho�d and fee t�t1e shall not be merged unless Lender agr�es to the merger in writ�ng. S. Gandemnat�vn.The proceeds of any award or claim for damages, direct ar cons�quentia�, �n connection w�th any condemnati�n or other taking of any par�of the Property, or for eon�eyance in place of condemnat�on,are hereby assigned and sha�l be paid to L�nder to the extent�f the fuxl amount of the indebtedness that rema�ns unpaid under the Nate and this Secur�ty Instrument. Lender sha11 apply such praceeds ta the reduction af the indebtedness under the Nate and this Security Instsument, fu-st to any delinquent amounts applied in the drder provided in paragra�h 3,and t�aen to prepayment af�arincipal,Any applicatran of the proceeds to the principal sha1�not extend or postpone the due date of the monthly payments,which are referred to in paragraph 2,or change the amount af such payments.Any excess p�oceeds over an amount required to pay all outstan�ing indebtedness under the Note and this Securi�y Instrum�nt shali be paid to the en��ty legally entit�ed thereto. 7. Chargesta Borrov�rer�and Prote�tianof Lender's Rights in the Pr�p�rty.Borr��ver sha�1 pay a�l ga�ernmental or municipal cl�arges, fines and impositions that are nat inc�uded�n paragraph�. Borrower sha11 pay these ob�igations an time d�.rectly to the e�.tity�hich is owed the payment. �f failure to pay would adversely affect Lender's interest in the Proper�y, u�an Len�er's request Borro�er shall prompt�y furn�sh to Len�er receipts evidencing these payments. If Bono�rer fails to make these payments or the payments required by pasag;raph 2,or fails to perform any other eo�enants and agreements cofltained in�his Securit�r In.stsument,or there is a�egal prvc��ing that may FHA Mortgage VIFITH MERS-NE Re�ised 4196 VMP� VMP4N(NE�413�21.44 Wofters Kluw�er Financial Services Page 4 of 10 q 333 4�8363 �233 �89 4414