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2� 1 ���7�5 <br /> In the e�ent�f foreclosure of this Securi�y Instrument or oth�r transfer of title to the PrQperty that extingu�shes the <br /> �ndebtedness,ail right,title and interest of B�rrower in and to insuran�e policie�in forc�sha�i pass to the purchaser. <br /> 4. Uccupancy, PreSer�ation, Maintenance and Protection af the Praperty; B�rrow�r's Loan A�plication; <br /> Lease�ia�ds. �arrawer shall accupy, establish, and use the Praperty as Barrower's Principa� Resi�ence after the <br /> execution of this Security Ins�rum�n� and Borrower �ar at least one Borrawer, if initially more than ane person ar� <br /> Borrowers} sha�l cantinue to occupy �he Property as Borrower's Principal Residen�e far the term of the Securi�y <br /> Instrument. <br /> Borrflwer shall nat commit was�e or destrny, damage ar Substan�ially change the Property or aliow the Proper�y to <br /> �eteriorate, reas�nab�e wear and tear excepted. B�rrower sha�l also be in default �f Borrower, during the l�an <br /> �.ppli�ation process, ga�e materially faise ar inac�urate infarmation or sta�em�nts to Ler�der �or failed to �ro�ide <br /> Lender with ar�y material rnformation}in cannection wi�h the laan e�idenced by the Note, inc�uding but nat limited <br /> to, r�presentations concerning ��rrawer's occupancy of the Praperty as a Frincipal Residence. If this Security <br /> Instrum�nt is on a leaseho�d,�orrawer sha11 carr�ply�vith the pra�isions�f the lease. If B�rrawer a�quires fee titi� <br /> to�he Property,the leasehold and fee title shall not be merged uniess Lender agrees ta the merger in writing. <br /> �. Charges t4 Barrower and Protectifln flf Le�der's Rights in the Frnperty. Borrnwer sha�� pay alI <br /> go�ernmental or municipal charges, fines and impositions that are nat inGluded in Paragraph 2. Barrower shal� pay <br /> these obligations on time directly ta th� �ntity whi�h is awed the payment. �f failure to pay wou�d ad�ers+ely affe�t <br /> Lender's �nter�st in the Pr��ert�, u�vn Ler��er's request Borrower shall pr�mpt�y furnish ta Lender receipts <br /> evidencing these payrnent�. Barro�er shall promptly discharge any lien which has p�iority a�er this Security <br /> Instrument in the manner pra�ided in Paragraph 14(C}. <br /> If Borrower fails to rnake these payments or pay th� propei-ty charges required by Paragraph 2,or fails tfl perform <br /> �ny other coveriants and a�reernents c�ntain�d in this Secur�ty Instrument, ar th�re is a legal pro�eeding that may' <br /> sign�fi�ant�y affect Lender's rights in the Property (such as a proceeding in ban�Cruptcy, for candemnatian or to <br /> enforce Iaws or regu�ations},then Lender may da and pay vvhate�er is necessary�o pra�ect�he vaiue of the Prapert� <br /> and Lender's rights in the Pr�perty, including payment of proper�y taxes, hazard insurance and other items <br /> rn�ntioned in Paragraph 2. <br /> To protect Lender's security in the Praper�y, Lender shall ad�ance and charge ta Borrower a1� amounts due to the <br /> Secretary for the Martgage Insurance Premium�"MIP"}as defined in�he Loan Agreement as we11 as al� sums due ta <br /> the loan servicer far servicing activities �"Ser�ricing Fee"} as defined in the L�ar� Agre�mer�t. Any am�unts <br /> disbursed by Lender under this Paragraph shall become an additional debt of Borrawer as pr��ided for in the Loan <br /> Agreemen�and shall�e secured by this 5ecurity Instrument. <br /> b. �n5pectian, Lender or its agent may enter on, inspect or make appraisals �f�he Praperty in a reasonable <br /> manner and at reasonable times pro�ided �hat Lender shall give the Borr�wer notice prior to any inspection or <br /> appraisal specify�ng a purpose f�r Che ir�s�ectian ar appraisal which must be related to Lender's ir�terest in the <br /> Prnperty. If�he Praperty is �acant or abandoned or the Ioan is in default, Lender rnay take reasonable action to <br /> protect and preserve such vacant ar�.bandoned Property without n�tice to the Borrower. <br /> 7. Gondemnatian. The proc�eds of any a�vard or c�a�m for damages, direct❑r consequential, in cannection with <br /> any c�ndemnation or other taking of any part af�he Praperty,ar for con�eyance in place af condemnation, sha�l be <br /> paid ta Lend�r.The proc�eds shal�l�e applied first ta the reduction of any indebtedness under the Secand]�a�e and <br /> this Security Instrument and then to the reductian �f the indebtedness under the Firs� NoCe and �irst Securi�y <br /> Instrument. Any excess proceeds o�er an am�unt required to pay aIl autstanding indebtedness under �he Second <br /> 4ne Re�erse Mortgage,LLC Loan 4riginator:Ti ffany Dav is <br /> Comp�ny-NMLS#:2�52-Loan h�umber:334388�5�3 Laan Originator NMLS#:753Z81 <br /> Nebraska-2"�Security Instrumen��Adjustab�e) Page 3 of�1 �Bay�7acs,LLC D3/D11��15 <br /> q�3349$$2�0� �'�?'2 Q�I7 �311 <br />