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<br />200900405
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<br />remaining for all installment items (a), (b), and (c) and any mortgage insurance premium installment that Lender has
<br />not become obligated to pay to the Secretary, and Lender shall promptly refund any excess funds to Borrower.
<br />Immediately prior to a foreclosure sale of the Property or its acquisition by Lender, Borrower's account shall be
<br />credited with any balance remaining for all installments for items (a), (b), and (c).
<br />3. Application of Payments. All payments under Paragraphs 1 and 2 shall be applied by Lender as
<br />follows:
<br />First, to the mortgage insurance premium to be paid by Lender to the Secretary or to the monthly charge by
<br />the Secretary instead of the monthly mortgage insurance premium;
<br />Second, to any taxes, special assessments, leasehold payments or ground rents, and fire, flood and other
<br />hazard insurance premiums, as required;
<br />Third, to interest due under the Note;
<br />Fourth, to amortization of the principal of the Note; and
<br />Fifth, to late charges due under the Note.
<br />4. Fire, Hood and Other Hazard Insurance. Borrower shall insure all improvements on the Property,
<br />whether now in existence or subsequently erected, against any hazards, casualties, and contingencies, including fire,
<br />for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that
<br />Lender requires. Borrower shall also insure all improvements on the Property, whether now in existence or
<br />subsequently erected, against loss by floods to the extent required by the Secretary. All insurance shall be carried
<br />with companies approved by Lender. The insurance policies and any renewals shall be held by Lender and shall
<br />include loss payable clauses in favor of, and in a form acceptable to, Lender.
<br />In the event of loss, Borrower shall give Lender immediate notice by mail. Lender may make proof of loss
<br />if not made promptly by Borrower. Each insurance company concerned is hereby authorized and directed to make
<br />payment for such loss directly to Lender, instead of to Borrower and to Lender jointly. All or any part of the
<br />insurance proceeds may be applied by Lender, at its option, either (a) to the reduction of the indebtedness under the
<br />Note and this Security Instrument, first to any delinquent amounts applied in the order of Paragraph 3, and then to
<br />prepayment of principal, or (b) to the restoration or repair of the damaged property. Any application of the proceeds
<br />to the principal shall not extend or postpone the due date of the monthly payments which are referred to in
<br />Paragraph 2, or change the amount of such payments. Any excess insurance proceeds over an amount required to
<br />pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity legally
<br />entitled thereto.
<br />In the event of foreclosure of this Security Instrument or other transfer of title to the Property that
<br />extinguishes the indebtedness, all right, title and interest of Borrower in and to insurance policies in force shall pass
<br />to the purchaser.
<br />5. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan
<br />Application; Leaseholds. Borrower shall occupy, establish, and use the Property as Borrower's principal residence
<br />within sixty days after the execution of this Security Instrument (or within sixty days of a later sale or transfer of the
<br />Property) and shall continue to occupy the Property as Borrower's principal residence for at least one year after the
<br />date of occupancy, unless Lender determines that requirement will cause undue hardship for Borrower, or unless
<br />extenuating circumstances exist which are beyond Borrower's control. Borrower shall notify Lender of any
<br />extenuating circumstances. Borrower shall not commit waste or destroy, damage or substantially change the
<br />Property or allow the Property to deteriorate, reasonable wear and tear expected. Lender may inspect the Property if
<br />the Property is vacant or abandoned or the loan is in default. Lender may take reasonable action to protect and
<br />preserve such vacant or abandoned Property. Borrower shall also be in default if Borrower, during the loan
<br />application process, gave materially false or inaccurate information or statements to Lender (or failed to provide
<br />Lender with any material information) in connection with the loan evidenced by the Note, including, but not limited
<br />to, representations concerning Borrower's occupancy of the Property as a principal residence. If this Security
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<br />Nebraska Deed of Trust
<br />FilA MERS Modified
<br />The Compliance Source, Inc.
<br />www.compliancesource.com
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<br />54301NE 02/02 Rev. 04/08
<br />@2002, The Compliance Source, Inc.
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