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201501958
<br /> LOAN#: 1410006481
<br /> and Urban Development("Secretary"},or in any year in which such premium would have been required
<br /> if Lender still held the Security Instrument, each monthly payment shall also include either: (i) a sum
<br /> for the annual mortgage insurance premium to be paid by Lender to the Secretary, or (ii) a monthly
<br /> charge instead of a mortgage insurance premium if this Security Instrument is heid by the Secretary,in a
<br /> reasonable amount to be determined by the Secretary. Except for the monthly charge by the Secretary,
<br /> these items are called "Escrow Items"and the sums paid to Lender are called "Escrow Funds."
<br /> Lender may, at any time, collect and hold amounts for Escrow Items in an aggregate amount not to
<br /> exceed the maximum amount that may be required for Borrower's escrow account under the Real Estate
<br /> Settlement Procedures Act of 1974, 12 U.S.C. Section 2601 et seq. and implementing regulations, 24
<br /> CFR Part 1024,as they may be amended from time to time("RESPA"),except that the cushion or reserve
<br /> permitted by RESPAfor unanticipated disbursements or disbursements before the Borrower's payments
<br /> are available in the account may not be based on amounts due for the mortgage insurance premium.
<br /> if the amounts held by Lender for Escrow Items exceed the amounts permitted to be held by RESPA,
<br /> Lender shall account to Borrower for the excess funds as required by RESPA. If the amounts of funds
<br /> held by Lender at any time is not sufficient to pay the Escraw Items when due, Lender may notify the
<br /> Borrower and require Borrower to make up the shortage as permitted by RESPA.
<br /> The Escrow Funds are pledged as additional security for all sums secured by this Security Instrument. If
<br /> Borrower tenders to Lender the full payment of all such sums, Borrower's account shall be credited with the
<br /> balance remaining for ail installment items(a),(b),and(c}and any mortgage insurance prem►um installment
<br /> tha#Lender has not become obligated to pay to the Secretary,and Lender shall promptly refund any excess
<br /> funds to Borrower.lmmediately priorto a foreclosure sale ofthe Propertyorits acquisition by Lender,Borrower's
<br /> account shall be credited with any balance remaining for all instaliments for items(a), (b),and (c).
<br /> 3. AppEication of Payments.Alf payments under paragraphs 1 and 2 shall be applied by Lender
<br /> as follows
<br /> First, to the mortgage insurance premium to be paid by Lender to the Secretary or to the monthly
<br /> charge by the Secretary instead of the monthly mortgage insurance premium;
<br /> Second, to any taxes, speciaf assessments, leasehold payments or ground rents, and fire, flood
<br /> and other hazard insurance premiums, as required;
<br /> Third, to interest due under the Note;
<br /> Fourth, to amortization of the principal of the Note; and
<br /> Fifth,to late charges due under the Note.
<br /> 4. Fire,Flood and Other Haaard insurance.Borrower shall insure all improvements on the Property,
<br /> whether now in existence or subsequently erected, against any hazards, casualties, and contingencies,
<br /> including fire, for which Lender requires insurance. This insurance shall be maintained in the amounts and
<br /> for the periods that Lender requires. Borrower shall a[so insure all improvements on the Property,whether
<br /> now in existence or subsequently erected, against loss by floods to the extent required by the Secretary.All
<br /> insurance shall be carried with companies approved by Lender. The insurance policies and any renewals
<br /> shall be held by Lender and shall include loss payable clauses in favor of,and in a form acceptable to,Lender.
<br /> ln the event of loss, Borrower shall give Lender immediate notice by mail. Lender may make proof
<br /> of loss if not made promptly by Borrower. Each insurance company concerned is hereby authorized and
<br /> directed to make payment for such loss directly to Lender,instead of to Borrower and to Lenderjointly.All
<br /> or any part of the insurance proceeds may be applied by Lender, at its option,either(a)to the reduction
<br /> of the indebtedness under the Note and this Security lnstrument,first to any delinquent amounts appiied
<br /> in the order in paragraph 3,and then to prepayment of principal, or(b)to the restoration or repair of the
<br /> damaged Property. Any application of the proceeds to the principa! shall not extend or postpone the
<br /> due date of the monthly payments which are referred to in paragraph 2, or change the amount of such
<br /> payments.Any excess insurance proceeds over an amount required#o pay all outstanding indebtedness
<br /> under the Note and this Security instrument shall be paid ta the entity legaliy entitled thereto.
<br /> In the event of foreclosure of this Security Instrument or other transfer of title to the Property that
<br /> extinguishes the indebtedness,afl right,title and interest of Borrower in and to insurance policies in force
<br /> shall pass to the purchaser.
<br /> 5. Occupancy, Preservation, Maintenance and Protection of the Praperty; Borrower's
<br /> Loan Application; Leaseholds. Borrower shall occupy, establish, and use the Property as Borrawer's
<br /> principal residence within sixty days after the execution of this Security Instrument(or within sixty days
<br /> of a later sale or transfer of the Property) and shall continue to occupy the Property as Borrower's
<br /> principal residence for at least one year after the date of occupancy, unless Lender determines that
<br /> requirement will cause undue hardship for Borrower, or unless extenuating circumstances exist which
<br /> are beyond Borrower's control.Borrower shall notify Lender of any extenuating circumstances.Borrower
<br /> shall not commit waste or destroy,damage or substantially change the Property or allow the Property to
<br /> deteriorate,reasonable wear and tear excep#ed.Lender may inspectthe Property ifthe Property is vacant
<br /> or abandoned or the loan is in default. Lender may take reasonable action to protect and preserve such
<br /> vacant or abandoned Property. Borrower shal!also be in default if Borrower,during the loan application
<br /> process, gave materially false or inaccurate information or statements to Lender (or#ailed to provide
<br /> Lender with any material information)in connection with the loan evidenced by the Note, including, but
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<br /> FHA Nebraska Deed of Trust-4196 IIlIt1aIS: � "
<br /> Ellie Mae,inc. Page 3 of 7 NEEFHADE 0914
<br /> NEEFHADE
<br /> 03/23/2015 08:27 AM PST
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