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� ��15��5 In the event af�oss,Borrower shall give Lender immediate notiee by ma�l.Lender may make praof of loss if not rr�ade promptly by Barrower. Each insuraaGe c��npany concerned is her�by authv�rized and duected to make payrn�n�for such loss direc��y to Lender, instead of to Borrow�r and to Lender jointly.A��or any part of the insuran�e pr�ceeds may be applied by Lender,at its�ption, either(a}to the reduction af the indebte�.n�ss under�he Note and this Secur��y Instrument,first tv any dei�nquent a�,ounts appl�ed in the order x�.paragraph 3,and�hen to prepaymen�of principal,or�b�to the restoration or repair of the�iarnaged Froper�y.Any appli�ation of the proceeds to the principa�sha��not extend or postpane the due date of the m�nth��pa�r��nts v�th�ch are referred t�i�.�aragra�h 2,or change the�mvu�.t o�F st�ch p�yments.A�.y�xcess �nsurance proceeds over an amount required to pay a�i autstandi.ng in.deb�edness under the Nate and this Security Instrument sha11 be paid to the entity 1ega�ly�nt�tled thereto. In the ev�nt o�forec�osure�f this�ecurity Instrument or other�ransfer of tit�e ta the Property that ext�ngui�hes the indebtedness,a11 right,ti��e and intere�t of Borrower in and to i.nsura�ce policies in force sha��pass�o the pr�rchaser. �. L��cupan�y, Preservation, Maintenance and Pr�tect�on of the Prvperty; Borrawer�s Laan Ap�alica�ic�n;L�aseholds�orrawer sha��occup�r, establish, �nd use the Praper�as�3orrower's pr�neipal �esidence within sixty day�after the e�ecut�vn of th�s Se�urit�In�trument�or with�n srxt�r days of a later sale or transfe�'of the Pr�perty]and sha��contin�e to occup�th�I'roperty as�orr��ver's grincipal residence for at least ane year af�er the date�f accupancy,unless Lender determ�nes that requirement wi11 cause undue haa��sh�}�f�r Bonawer,ar unless extenuating circums�ances exist wh�ch are be�ond Borra�ver's contro�. Borrv�er s�a�l n�tify Lender af any extenuating circumstance�. Barrawer sha11 not comm�t waste or destroy, d�mag�ar sub�ta.�tiat�y change the Praperty or a��aw the Pr�p�rty ta deteriorate,reasonable wear and�ear �x�epte�.Ti.��nder may insp�ct the Froperty�f the Pr�pez�y is�acant ar abandoned�r the�oan is in defau��. Lend�r may��reasonab�e action�o prat�ct and p�es�ve such vacant or abandoned Property. Borro��r shall a�so b�in default if Borrawer, during the�oan app��catian process,gave materia��y fa�se or inaccurate �nformation or��ate�nents ta Lenc�er{or fail�d to provide Lender�vith any material information)in conn�c�iQn�rith the loan e�idence�by the Nate, inc��uding,�u�nat limited to,representations concern.�ng Borrower's�c+�upan.cy�f the Praper�y as a principal resid�n�e. If this Security Instrument is on a leaseholdA B�rrc�v�r�r s�.a��.comp�y with the prav�sion.�of the lease. If Borrovv�r acquir�s fee title to the PrQpert�,the leas�ho�d anr�fe�t�t1e shall not be merged un�ess Lender agrees to the merger in�vriting. S. �o�d��t�2t��t��.'The pr�cee�s af�ny award ar cl�im f�r damages, dir�ct or consequential,in eonnecti�n vvith any�an.�e�°nnatian or other takin.g af any part of the Property, or for conveyanc�in ptace of candemnativn, are hereby a�signe�i and�ha��be pa�d to Lenc�er to th�extent of the fu��a�nount of the inde�t�d�.ess that remains unpaid under the��te an�this S�curity Instrt�ment. ��nder sh�ll app�y such praceeds to the reductian of�he indebtedness under the Note and this 5ecurity Instrun�ent, first to any delinqu�nt amo�.n�s applied in the order pravided in�aragraph 3,and then to prepayment of principal. Any ap��cativn�f t,'�e prac�edS to the principal sha11 not�xtend.or postpone th�due date of the monthly pa�m�nts,�hiGh are refened to in paragra�h�,or ch.ange the amount of such payments. Any excess pro�eeds vver an arnount requued ta pay ai�outstanding indebte�lness under the Note and this Secur�ty �trume�.t��1�b�p�id to the en�it��ega11�entitled thereto. �. �har��e�t� Bo�rvwerand Prat�ctionvf Lender's Ri�hts�n the Property.Borro��r�ha11 pay a11 go�ernmen�a�or munxcipa��harg�s, fines and impasit�ans that are not includ�d in paragraph�. Borrower �ha�l pay the�e ob�igat��ns on t�me duectly to the enti�r which is awed the payment. If failure to pay�vou�d ad�rers�l�affect Le�.�er's interest in th�Property, upon Lender's request Borrower shall prompt�y furnish�o Lend�r re�e�pfs evi�encing these pa�ments. If]�orx�o�v�r�a��to make these payments or the payments requi�ed by pa.ragraph�,�r fa�ls to perform any oth�r c�venaa�ts a��agreements�ontained in t�.is Security Instrument,or there is a 1ega1 proceed�n�that may FHA M�rtgage W�Y�i MERS-NE Re�ised 4196 VMP� VI►I�lP4N�NE}[130�}.4D Wolters Kluwer Financi�l Senrices � Page 4 of 1 Q ��333816?93� �3233 4z5 a41�