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��15�34�9 In the event of��ss,Borrotiver shall give Lender�mmediate notice b�mai�. Lender may make proaf of loss if n��rn�t��romptly b�Borrower,Each in�urance compan��once�n.ed is hereby authorized a�d dir�cted ta make payment for su�h toss directl�r�o Lender, instead of to Borrower and to Lender jo�n.�ly.A11 ar any part of the insurance prnceeds may be applied by Lender,at its option,e�ther(a}to the reduction nf the indebtedness und�r the Note and this Security In�trument, Fust to any delinquent amounts applie�.in�he ard�r in�aragra�h 3,and tben ta prepayment of pr�n�ipal,ar�b�t�th�restoration or repair of the damaged Property.Any application af the proceeds�o the principal sha�t n��extend or postpone the due�ate of the monthly pa�ments which are referred to in paragraph�,or�hange the amount of such paymen�s.Any excess insurance pra�eeds over an arno�nt required t�pay a�I auts�anding indebtedness under the Nate and this Securi�r�ns�rument sha11 be paid to the entity legally ent��ed thereto. In the event of forec�osure of th�s�ecurity Instrument or other transfer of trt�e�o the Property that ex�inguishes the�ndebted�ness,a11 right,title and inter�st of Barrower in and to insurance policies in force sha11 pass to the purchaser. 5. �ccupancy, Preservation, IVlaintenance and Protect�on of the Property; Borrower's Loan Ap p I i cati o n;Leaseh o I d s.Borra�rer s�a11 occupy, establish, and use the Property as Barrower's princ ipa� residence within sixty days ai�er the execu�ion of this Security Instrument�or�vith�n sixty days af a later sale or transfer of th�Property�and sha11 e�ntinue to occupy the Property as Borr�w�r's principal res�dence f�r at least one year a�er the da�e of vccupancy,un�ess L�nder determines tha�requue�ent�vi1t cause undue hardship fvr Borro�ver,or unless extenuating circumsta.nces exist which are beyond Borrower's contr�l. Borrower sha1�natify Lender of an}�extenuating�ircumstances. Borro�er shall not c�mmit�vaste or destray, damage or substantially change the Praper�or allaw the Property to deterio�'ate,reasonable vveax and tear �xcepted. Lend�r may inspect the Praperty if the Property is vacant or abandoned or the loan is in default. Lender�ay take reasonable action to protect and preser�e�uch vacant or abandoned Prnperty. Borrower shall a1s�b��xa default�f Borrower,during the loan application pracess, gave materially false or inaecurat� informati�n or�taternents to Lender(or failed to prv�ide Lender with an.y material in�`ormation]in connectYon with the loan evidenced by the Note, including,but no�limited to,representatians concern.ing Borrower's occu�anc�r of the Prop�r�y as�principal residence. If this Securi�y Instrumen#is on a�eas�hatd, �orrower sha11 comply with the pro��sians of the lease. If Borrower acquir�s fee t�tle to the Prop�rty,the leasehold and fee title shat�not be merged unless Lender agrees to the merger in writing. C. Cvndemnation.The proceeds af any award or claim for damages, direct or consequential, in connection with any condernnation ar other takin�of any part of the Property, or for conveyance in place of candemn.ation, are hereby assigned and sha11 be pai�to L�nder to the extent af the fu��a.rnvu�t of the �n�iebtedness�hat remains unpaid under the Note and this Secur��Instrument. Lender sha11 apply such proceeds to the reduction of the�ndebtedn�ss under the N�te and this S�curi�y Instrument, fust to an� delinquent anlounts applied in the order provided in paragr�ph 3,and then to prepaym.ent of principal.Any application af the proceeds to the pr�ncipal sha11 not�xtend or pastpone the due date�f the manth�y paymen�s,which are referred to in paragraph ZA or change the amount of such payments.An.��xcess proceeds over an amaunt re�uired to pay a11 outstanding indebt�dness under the Note and this Security In�trument shall be paid ta the entity Iegally�nt�t�ed thereto. 7. �hargesto Borro►��rand Protectivnof Lend�r's Rights in the Property.Borrower shall pay a11 governm�n�al�r municipal charges, fines and imp�s�t�ons that�.re not included in paragraph�. Borrav�rer Sha11 pay these obligations on time dire�tly to the entity wh�ch i�owed the payment. If failur�to pay would ad�erse�}�affect Lender's interest in the Propert}�, upon Lender's request Borr�wer sha�l promptly furnish�v i�ender receipts evidencing these payments. If Borrower fails to make these payments or the payments required by paragraph 2,or fails to perform any other co�renants a�td ag�e��ents canta.ined in this S�curit�Ins�.��.t,or there is a�egal proceeding that may FHA Mortgage WITH MERS-NE Re�ised 419fi VMP C� VMP4N(NE)(1302].44 Wolters Filw�rer Financial5ervices Page 4 af 1 D q433393846�7 �233 321 Q41�