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Z�15�����
<br /> L�AN#:7���1�D41
<br /> and Urban Developm�nt�"Secretar�"},ar in any year in whi�h such p�em�urn wouid ha�e been re�uired
<br /> if Lend�r st��l held the Se�urity lnstrum�nt, each manth�y payment sha�1 also includ�either: ��} a sum
<br /> fo� th� a�r�u�! rnortgage insur�nce prerr�ium t� be pa�� by Lend�r to t�e Se��etary, or �ii} a monthly
<br /> �har�e instead vf a m�r�gage insurance premium�f this SeCurity lnstrum�nt is h�ld by th�S�cretary, in a
<br /> r�asonabie amount�a be de#ermined by fhe Secre�ary. Except far the rnonthiy charg�by t�e S�cretary,
<br /> these items are called"Es�row Items"and the sums paid to Lender are ca�led"Escrow Funds."
<br /> Lender may, at any time, collect and hold arnounts for Escrow Item�in an aggregate arnount nv��o
<br /> exc�ed the maximum amount t�at may be required fQr 8or��ower's esc�ow a�coun�under the Rea�Fstat�
<br /> 5ettlement P roced u res Act of 1974, 'I� U.5.�. Section�C�1 et seq.and implementing reg u lations, 24
<br /> �FR Par��D�4,as they may�e amended from�ime#o t�me�"RESP�"},ex��p�tha�t�e cushian or reserW�
<br /> permitted b}��ESPAfor unant��ipat�d di�bursem�nts nr disbursements�efore the Bor�awer's paym�nts
<br /> are available in the a��ount may not �e based vn amounts due for the morkgage insurance premium.
<br /> �f t�e amounts held�y Lender f�r Es�row Items�x�e�d the amaunts�e�rnitted t�be held by R�S�'A,
<br /> Lender shafl ac�ount to Borrvwer for the e�c�ess funds as r�quired by RESPA. If the amounts af fun�s
<br /> held �y L�nder at any time is not sufficient to pay the Escr�w Items wh�n due, Len�er may nv�ify fh�
<br /> Sarr�w�r�an�re�u�re Barrawe�t�make up the shvrtage as permitted by RESPA.
<br /> The Es�raw Funds are pledg�d as ad��tional security f�r all sums secured by th�s SeGurity fnstrument. If
<br /> Barrvwer ten�ers tv Lender fhe fu��paym�nt of a��such sums,Bomow�r's a���unt shall�e�redit�d wi�h tne
<br /> balance remaining fo�alf installment items�a},�b},and��}and any martgag�insuran�e premium installment
<br /> that Lender has not becorn�obli�ated to pay to the 5�cretary,and Lender shall prompt�y refund any ex�ess
<br /> funds ta Borr�wer.I mmediate�y�riorta a for��l��u�e sal�of the Prvperty ar its a�quisitivn b�Lender,Barrower's
<br /> a�count shal!b�cre�ited with any balance remaining far ali installments for items�a},tb},and��}.
<br /> �. App�ication of Payments.All payments under paragraphs � and 2 sha��b�����ied by Lender
<br /> as�oflows:
<br /> First, t�the mor#gage insurance pr�mium�o be paid by Lender�o the Secr�tary vr ta#he monthly
<br /> charge by the Secretary��s�ead a�F��e monthl�mortgage insurance pr�erniurn;
<br /> Se�ond, ta any t�xes, spec�al ass�ssments, �easehold paym�nts or ground rents, and fire, f�nod
<br /> and�ther hazard insuranc�premiums, as�equ�r�d;
<br /> Th�rd, ta int�r�st due under the Not�;
<br /> Fvurth, ta amo�tization af the principa!af the Nate; and
<br /> �i�th,tv lat�charges due under the i�ote.
<br /> 4. Fi�e,Fload and�ther Ha�ard Irrsurance.Borrowershal�insure a�1 impro�ements on the Property,
<br /> whe�her naw in exis�ence or subsequently �rect�d, against any hazards, �asuaf���s, an� �on�ingen�ies,
<br /> inc��din�fr�,���w�ich Ler�d��req�ires insuran�e.This�nsurance sha��be ma�n#ained in the amoun#s and
<br /> far the periods th�t Lender requir�s. Bvrrawer shail also insure all impror�ements�n the P�operty,whether
<br /> now in exis�ence�r subsequ�ntly er�cted,against�ass�y f�ood�to the�xtent req�ired�y th�Secretar�All
<br /> insurance shall be carr�ed with companies appro�ed by Lender.The insuranc�poli�ies and any renewals
<br /> shall be held by Lender and shall i nclude la�s payable claus�s in fa�or af,and�n a form acceptable to,Lender.
<br /> �n t�e event v#loss, 8orrower sha!#�ive Lender�rnmediate n�tice bY mail. L�nder may make�ro�f
<br /> af loss if not made pramptiy by�orrvwer.Ea�h insuranc��vmpany��ncern�d is here�y autharized and
<br /> directed to make payment for such�oss direc��y to Lender,instea�of tv B�rraweran�to Lender��int�y.AI�
<br /> or any part af the insuran�e pro�eeds rnay be applied by Lender,at�ts aption, either�a}to the reduction
<br /> af�he indebtedness under th�No�e and this 5ecu�ity Instrument,first to any del�nquent am�unts applied
<br /> in the or�er in paragraph 3,an�ther�to pre�a�m�nt ot�rincip�l,or�l�}t�the restoration ar repa�r of the
<br /> damaged Property.Any application of the praceeds t� the princi�al shal� not �xtend or po�tpvn� the
<br /> due date af the monthly payments which ar�referred to in paragraph�, or change the arnount a#such
<br /> payments.Any exc�ss ins�ran�e prace�ds over an amflunt required t�pay all vutstan�ing indebtedness
<br /> under the N��e and this Security lnstrum�nt sha11 be paid ta the entity legally enfii�led thereta.
<br /> �n #he e�ent of foreclasure o�this 5e�uri�y ��rst��ment ar�t�er�rar�s��r ot title�o�he Pro�erty that
<br /> ex�inguishes the indeb�edness,all righ�,title and inter�st of Barrower in and to insurance palicies in fvrce
<br /> shall pass to the purchaser.
<br /> 5. Qccupanc�, Preser►ratian, �aintenance and Prot�ctinn of the Property; Borrawer's
<br /> Lo�n AppliGat�on; Leaseh�lds.Borrower shall occupy,�stabli�h,and use the P�aperty as Borrawer's
<br /> principal residence within si�rty days a�ter the execution of this S�cU�tty Ir�strument�or wit�in sixty days
<br /> of a la�er sale ar transfer of th� P'rop�rty} and shall cantinu� ta accupy the Property �s Borrower's
<br /> principal residence for at least on�year a�te�t�e d�te of o�cupancy, unless L�nder determines �ha�
<br /> rea�ire�ent wi�l cause�ndue h�rdship for Sor�-ovuer, or unless�xtenuating circ�ms�anc�s exist which
<br /> are beyond Qorrower's cvntr�l.B�rrower shall n�tify Lender nf any ext�nua�ing�ir�umstances.Borr�wer
<br /> shall not c�mmi�wasfe��d�stroy,�arnage or substant�a��y change�����aperty�r a�lvw�he Praper�y to
<br /> deteriorate,reasonab�e wear and tear excepted.l.ender may inspect�he Property if�he Property is�acant
<br /> or aaandoned or the Ioan is in default. Lender may take reasonabl�activn to protect and preserve such
<br /> �aean�o�abandone�F'r�perty. Borrawer shal�alsQ be�n default if Borrov��r,durin�the Ioan appiication
<br /> pro�ess, ga�e ma�erially fa�se ar ina�curate informatian or statements to �ender �ar failed to p �de
<br /> Lender uvith any materia� inforrna�ion�in�onne�ti�n with the ivan��i�enced by the Nat�, in�lu ng, bu�
<br /> FHA Nebraska Deed of T�ust-�Ig� �n ltlal S:� ' �
<br /> E!!ie Mae,Inc. Page 3 of 7 r�� FHADE �9'��
<br /> NEEFHADE
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