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��15�5DU1 and d�recfied ta make payment fior such lass #o Lender, ins�ead of to Barrower and Lender jointly. Insurance praceeds sha�l be app��ed �o restoration �r repair a� �he darnaged Prop��ty, i� the restora��on o�repair is ecanomicaily feasibie and Lender's security is not less�ned. lf the restaration or repair is not economical�y feas�ble vr Lender's security r►vauid be lessened, the insurance praceeds shali be appiied firs�ta th� redu�tion af any indebtedness under the 5e�ond N�te and�his Security lnst�umen� and then ta the reductian of�he indebtedness under �he FErst Na�e and First Security 1nst�ument.Any excess insurance proceeds oWer an amount required�o pay all outstand�ng indebt�dness under �he Second No�e and this 5ecuri�y �ns�rumen� and �he First Note and First Securi'ty lnstrumen�shall be paid fo tl�e enti�y legally entitled�her�to. ln the event af�orecfosure vf this Security lns�rument❑�r other��ansfer of�itle to the Property �hat extinguishes�he indebtedness, all right,title and interest vf Bo�-raw�r in and t� insurance palicies in force shalE pass�o the purchaser. 4. C)ccupancy, Preservafion, lVla�ntenance and Protection vf fhe Praper-�y; Bvrrower's Loan App�ication; Leaseholds. Borrowe� shall oc�upy, establish, and use �he Property as Borrvwer's Principal Residence a�ter fhe execution af this Secur�ty Instrurn�nt and Barrower (�r a� l�as�one Sorrowe�, i�Enitiafiy m�re than one person are Borrowers)and shafl c�ntinue to occupy�he Praperty as Bo�rower's Principal Residence��r�he te�m of the Securi�y lnstrurnent. Borr�w�r shali not commit wa��e ❑r des��ny, damage ar subsfantially change the Proper�y or allow the Property to d��er�orafe, reasvnabie wear and tear�xcep�ed. Sorr�wer shall aisfl be in d�fau�� if B�rrower, during the [van appl�catian process, gaWe materiai�y false or inaccurate inf��matian ar �tatements�o Lender�or failed t� pro�ide L�nder with any mater�a! info�mation} in c�nnection with �he �van �videnced by �he Secvnd Note, inc�uding, but na� lim�ted ta, representa#ions concerning Borrower's ❑ccupan�y of the Properky as a Principal Res�dence. I�this Security instrument is an a leasehald, Borrower shalt cvmp�y with the pr�Uisions of the lease. �� Borrower acquires fee title ta the Property,fhe leasehald and fee title shal� na�be merged unless Lender agrees�a�he mergsr�n writing. 5. Charges to Borrower and Protec�ion�f Lender's Rights in the Praperty. Borrower shal�pay a�l gavemmen#aE ❑r municipal char�es, fines and �mpos�tions #hafi are not included �n Pa�agraph �. Ba�rov�rer shall pay these obl�gations an time directly to �he entity which is owed the payment. If failure fo pay wauld ad�ersely affect Lender's �nteres� in the Prope�ty, upon Lender's request Bor�ower shalj promptfy furnish to Lender receipts e�iden�ing these payments. Borrower shal! prom��ly discharge any I�en whi�h has priarity o�er thEs 5ecurity lnstrument�n�he manner prav�ded �n Paragraph �4{c}. i�Borrovver fails tv make these payments ar pay�he praperty charges required by Par2�g��ph 2, or fails to pe�form any ather covenants and agre�m�nts cvntained in this 5�cur��y lnstrument, o�there �s a Eegal pro�eeding �ha� may significantly afFec� Lender's r�gh#s in the Proper�y �such as a p�a�eeding in bankrup#cy,for condemnation ar�a enfarce laws or regulations},then Lender may do and pay whateve�- is necessary to protect the value of the Property and Lender's r�ghts �n th� Property, including paymen� o� properfy �axes, ha�ard insuran�e and ather i�ems mentioned in Pa�agraph�. Tn pratect Lender's securify in the Praperty, L�nder sha11 ad�ance and charg� to Borrower all amounfs due to the 5ecre#ary for the Mortgage lnsurance Prem�um as defined in �he Laa � � 754� �EN3D3N Ac�enture Mo�tgage Cadence Do�ument Center C� (3 of 13) Nebraska 5e�a�d�eed vf Trust-HECM AOJUSTABLE F�ATE o2T�a31��