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��15�545U In the event of Iass,�orrawer shall gi�e Lend�r imme�iat�aati�e by mail. Lender may nnake praof Qf lass if nat made prompt�y by Borro�v�r.Each insurance cornpany concern�d is hereby auth�rized and directed to rnake payrnent for such loss directly to L�nder,instead of to�arrawer and to Len�er jointly.A��or any part �f the insurance proceeds rnay be applied by Lender,ati�ts op�ion,either(a)to the reduc�ion of the indebted�ess under th�e I�ote and thi�Security In�trument,fust to aay de��nquent amaunts app�i�d in the order in paxagraph 3,and then to�repayrnent�f principal,or�b}to the restoration or r�pair af the damaged Prap�rty,Any app�icatran of the�roceeds to th�pr�ncipal shat�a��t�xtend or postpone rhe due date o�'the monthly paymen�s v�rlaich are referred to in paragraph�,or change the amaunt of�uch payments.Any exces� insurance proceeds over an amount required to pay a11 ou�standing indebtedness under the�T�te and this Security Instrument shall be paid to the entity legally entitled thereto. In the event of fareclosure of this Secu.rity Instrument or other transfer of t�t1e to the Property that �xtingui�h�s the indebtedness,aII right,titl�and interest of Borrower in and to insurance pa��cies in force shall pass ta the purchaser. S. �ccu��ncy, Preservatfc�n, Maintenan��and Pratsction of the Prapert�; Borrvwer's Loan Applicati�n;Leasehvlds�orro��r sha11 occupy, esta.blish, and use the Property as BQrro�ver's principal residence within sixty days after the execution of this Security Instru�nent�ar�vithin sixty days of a Iater�a1� or tranSfer af the Property)and shall c�ntinu�to occupy the Praperty as Borrawer's principal residence for at�east one year after the date af occupan�y,unless Lender deterrnines that reyuirement wi�l cause undue hardship for Barro�er,or u�less extenuat�ng circumstances exist which are be�c�nd Barrawer's contraL Barrnwer shall notify Lender af an�extenuati�ng c�rcumst�nces. Borro�ver shall not commit v�aste or destra�, damage�r substantially Ghange the Prcrperty ar allow�he Property to deteriorate,reasona�le wear and t�ar exeept�d.Lender may in�pect the Fraperty if the Property is vacant or aba.ndoned or the loan is ia default. Lender may take reasonable action ta protect and preserve suGh�acant or abandoned Propexty. Borro�er shall a1s�be in defautt if Borrot�er,during th�loan applica�ion process,ga�re materially fa�se or inacctuate inf�rmatian ar stat�rn�nts to Lender(or failed to pro�i�ie Leader with any material information�in cvnnect�on with th��a��viden��d b�th�Not�e,inc�uding,but not iim�t�d t�,r�presentation�concern�ng Borrotiver's occupancy of the Proper��s a pr�n.cipa�residence,�f this Se�urity Xnst�urnent is on a�easehold, B�rrQwer�hall cornply with th�pro�is�ons of th�lease.If Borrower acquir�s f�e tit�e to the Praper�,the �easehol�i and fee title sha�l not be merged unless Lender agree�to the merg�r in writing. f, Gondemnation.The proceeds�af any award�r claim for dan�a�ges, direct�r�vnsequ�ntial,in�annection w�th any c�nd�rnnatiQn�r other taking of any part of the Property, or for�on�eyan�e in pta�e of evndemnation, are hereby assigned and sha11 be paid to Lender to the extent of the fu11 am�uat�rf the indebtedness that remains unpaid under the No�e and this Security Instrument. Lender sha11 apply such proceeds to the redu�tion of the indebtedness under the Note and this Securi�y Instrument, first to any del�nquent amounts appli�d in the order pro�i�ed in pa.ragraph 3,and then t�prepayment of pri.ncipal.Any applicatian of the proceeds ta the principa�sh�.11 not extend or postpone the due date of the rnonthly gayments,v�thich are referred to in paragx�aph�,or change the am�unt flf such payments.Any�xcess pro�eeds o�er an a�naunt required to pay all vut.�tan�ing indebtedness�nder the Note and this Security Instrument shall be paid to the entity legal�y entitled thereto. 7. Charg�s to Bcarrvwerand Pro#ectionof Le�der's Rights�n the Property.Borrovver s�all pay a11 ga�ernmental or municipal charges, fines and imp�sitions that are not included in�aragraph 2. Borrower �ha�1 pay th�se obligatians on time directly to the entity wh�ch is otived the payment. If faiture ta pay wau�d ad��rsely affect Lender's interest in�he Property, upon Le�ader's request Borrower shait promptly furnish to Lender rece�pts evidencing these payments. If Borrower fai�s to make th�se payments or the payments require�l by paragraph 2,or faits to perform any other covenants and agreements contained in this Securi�Instrument,ar there is a l�ga�proceeding that may FHA Mortgage WITH MERS-NE Re�ised 419fi VMP� VMP4N(h1E}{1342).0� Wolters Kluwer�inancial Services qp3�38986593 4233 4�4 441Q Page4af 10