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2� 17�2�81 <br /> Iessened,the insurance pr�ceeds�hall he ap�Iie�first to the reduction of any indebtedness under a Se�ond I�ote an�i <br /> Secand S�Curity Instrument held by the Se�retary on the Pr4perty and then �o the redu�tion of the in�eb��dness <br /> under the Note and this Security Instrument�as described�n Paragraph I S}held by the Secretary on the Property an� <br /> then to the reduct�on of the indebtedness under the Nate and this Security Instrument. Any excess insurance <br /> praceeds o�er an amount req�ired to pay all outstanding indebt�dness under#h� N�te and this Security Instrument <br /> shail be paid ta t�he enti�y�egally entitled thereto. <br /> In the event o�forec�osure of this Securit}�Instr�ment or other transfer af�itle to�the Property that extinguishes the <br /> indebtedness,a��right,title and interest of Borrower in and ta insuranc��anlicies in forc�shall gass to th�purchaser. <br /> 4. Uccupan�y, Preservation, Maintenance and PratQ�tion of thQ Property; Borrower's Luan Applicatian; <br /> Leaseholds. Barrower shall occupy, establ�sh, and use �he Property as Borrower`s Principai Residen�e after the <br /> e�ecution of this Securiry Instrument and B�rrower�ar at ��ast�ne Bar�rower,if initia�ly more than one person are <br /> �orrawers} shal� cor�tix�ue to ac�upy the Praperty as Borr�wer's Principal Resicienc� for the term ❑f the Security <br /> Instrument. <br /> Borrnwer sha�� not commit waste or d�stroy,damage�r substantiaily change#he Property or allow the Praper�y to <br /> deteriorate, reasanable wear and tear excepted. Borrower sha�l alsa he in default if Barr�wer, during �he loan <br /> application pracess, ga�e ma�erially false ar inaccurate �nformaCion or s�atemen#s to Lender �ar fa�led ta pro�ide <br /> Lender with any material informati�n}in cannection with the Ioan e�idenced by the Note,including,but not l�mi�ed <br /> to, represer�tativns concer�ing B�rrov�rer's �ccupan�� of the �'roperty as a Princ�pal Res�denC�. If this Securil�y <br /> Ins�rument is on a�easehold,Borrower shall comp�y with the pravisions of the Iease.If Barrower acquire�fee title ta <br /> the Prop�rty,the leaseha�d and fee ti�1e shal�not b�m�r��d unless Lender agrees to�he merger in writing. <br /> 5. Charges fo Borrower and Prot��tion Qf Lender's RightS in the Prvperty. Barrower sha1� pay al� <br /> go�ernmenta�or municipal charges, fines and impositions that ar�not inc�uded in Paragraph 2. Barrower sha��pa}� <br /> thes�ohligatians on time dire�tly to the entity wh�ch is owe�l the payment. if failure to pay would ad�erse�y affect <br /> Lender's irtter�st in the Prop�rty, upan L�nder's request Borrower shall promptl�r furnish ta Ler�c�er receip�s <br /> �videncing these paymen�s. Borrower shall promptly discharge any lien which has priority �ver this Security <br /> Instrument in the manner provided in Paragraph 14{C}, <br /> If Borrower fail� to make th�se payments ar pay the pr�perty charges r�quired by Paragraph�, or fait5 to perf�rm <br /> any other covenants and agreements contained in this 5ecurity Instrument, or there is a Iegal proceeding �hat may <br /> significantly a�F�ct Lender's rights in the Pr�pe� tsuch as a proc�eding in banl�ru��cy, for candemnatian or to <br /> e�foree iaws or regulatians�,then Lender may do ar�d pay�vhatever is neces�ary ta protect t�e value�f the Pr�p�rty <br /> and I�ender's rights in the Property, including payment of proper�y taxes, hazar� insurance and ath�r i#emS <br /> mentioned ir�Paragraph 2. <br /> Ta protect�,ender's security in the Proper�y,Lender sha1l ad�ance and Gharge ta Borrower atl amounts due ta the <br /> Secretar�far tl�e�I�ior�gage Insuranc�Premium�"M�P"}as de�ined in th�Loan Agreement as well as all sums due ta <br /> the loan servicer f�r servicing activities ("S�rvicing Fe�"} as defin�� in �he L.flan Agreeme�t. An}� �m�ounts <br /> disbursed by Lender under this Paragraph shat�became an additionaZ debt of Borrow�r as prnvided�or in the L�an <br /> Agreement and shail be secured by this Security Instrument. <br /> �. Inspection. Lender ar its a,gent may enter on, inspec�t ar make appraisals of the Property in a reasonable <br /> manner and at reasona�le times prov�ded that Lender sha�t gi�e the Borrower notic� prior ta any inspection or <br /> appra�sal specifying a purpase for th� it�spection tir appraisa�l vvhich must be rela�ed ta I.ender's interes� in the <br /> Property. If the Properfiy is vacant or abandoned ar the loan is in default, Lender may take reasonab�e action t� <br /> �ne Re�erse Martgage,LLC Loan�rig�natar:Bruce�lsen <br /> Company-NMLS#:2U5�-Loan l�umber:3369956�73 Loan ariginator NMLS#:902398 <br /> �►Iebraska�lst M��SSecur#�y��.rt�ument{.4djustabre� �'age 3 nf 1� ��uy fJc�cs,LLC' �31d10�fli5 <br /> q�336995fi�73 �233 �38 D31'� <br />