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<br /> 201004323
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<br /> and shall continue to occupy the. Property as Borrower's principal residence for at least one year after the date of
<br /> occupancy, unless Lender..determines that requirement will cause undue hardship for Borrower, or unless extenuating
<br /> circumstances exist which are beyond Borrower's. control. Borrower shall notify Lender of any extenuating
<br /> circumstances. Borrower;shall..not commit waste:or.destroy, damage or substantially change the Property or allow
<br /> the Property to deteriorate,. reasonable wear and tear. excepted. Lender may inspect the Property if the Property is
<br /> vacant or abandoned or the loan. is. in default. Lender may take reasonable action to protect and preserve such vacant
<br /> or abandoned Property. Borrower shall also be. in default if Borrower, during the loan application process, gave
<br /> materially false or inaccurate. information or statements to Lender (or failed to provide Lender with any material
<br /> information) in connection with the loan evidenced by the Note, including, but. not limited to, representations
<br /> concerning Borrower's occupancy of. the Property as a principal residence. If this Security Instrument is on a
<br /> leasehold, Borrower shall comply with the .prov:isions of the lease. If Borrower acquires fee title to the Property, the
<br /> leasehold and. fee title .shall, not.be merged unless Lender agrees to the merger in writing.
<br /> 6. Condemnation. The:,proceeds ofany:award or claim for damages, direct or consequential, in connection
<br /> with any condemnation or ;other taking. of any part. of the, Property, or for conveyance in place of condemnation, are
<br /> hereby assigned and shall be paid to Lender to the extent of the frill amount. of the.indebtedness that remains unpaid
<br /> under the Note and.. this. Security-Instrument. Lender shall apply. such.proceeds:to. the reduction of the indebtedness
<br /> under the Note and this Security Instrument, first to any delinquent amounts applied in the order provided in
<br /> paragraph 3, and then to. prepayment of principal. .Any application of the proceeds to the principal shall not extend
<br /> or postpone. the due date of. the monthly paymeuts, which. are referred to in paragraph 2, or change the amount of such
<br /> payments. Any excesspro..ireeds over.an:amount required.to pay -all outstanding indebtedness under the Note and this
<br /> Security Instrument shall be paid to the entitylegally entitled. thereto.
<br /> 7. Charges to Borrower and Protection of Lender's Rights in the Property. Borrower shall pay all
<br /> governmental or municipal charges, fines .and impositions that are.not;included in paragraph 2. Borrower shall pay
<br /> these obligations on time directly to .the entity which is owed the payment. If failure to pay would adversely affect
<br /> Lender'..s interest in the Property, upon Lender's request Borrower shall promptly furnish to Lender receipts
<br /> evidencing these. payments.
<br /> If Borrower fails to, make these payments or .the payments required by paragraph 2, or fails to perform any other
<br /> covenants and agreements contained-in this Security Instrument, or there is a. legal proceeding that may significantly
<br /> affect Lender's rights in. the Property (such as a proceeding in. bannkruptcy.,. for condemnation or to enforce laws or
<br /> regulations), then Lender may do. and pay whatever is necessary to protect. the value of the Property and Lender's
<br /> rights in. the Property, including payment of taxes, hazard insurance and other items mentioned in paragraph 2.
<br /> Any amounts disbursed by Lender under this paragraph shall become an additional debt of Borrower and be
<br /> secured by this Security Ins"trient. These amounts shall beat interest from the date of disbursement at the Note rate,
<br /> and at the option of Lender shall be immediately:due and payable.
<br /> Borrower shall promptly discharge any lien. which has priority over this Security Instrument unless Borrower:
<br /> (a) agrees in writing to the.payment of. the: obligation. securedby the lien.in a manner acceptable to Lender; (b) contests
<br /> in good faith. the lien by, or defends against enforcement of the lien. in, legal proceedings which in the Lender's
<br /> opinion operate to prevent the :enforcement of the lien; or (c) secures from the. holder of the lien an agreement
<br /> satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the
<br /> Property is subject to alien which may attain priority over.this Security Instrument, Lender may give Borrower a
<br /> notice identifying the -lien. Borrower shall satisfy the lien or take one or more.of..the actions set forth above within
<br /> 10 days. of the giving of notice.
<br /> 8. ]Fees. Lender may.collect fees and-charges authorized by the Secretary.
<br /> 9. Grounds for Acceleration of Debt.
<br /> (a) Default. Lender may, except as limited by regulations issued by the Secretary in the case of payment
<br /> defaults, require immediate payment. in full of all sums secured: by this. Security Instrument if:
<br /> (i) Borrower defaults. by failing: to pay in full any monthly payment required by this Security
<br /> Instrument prior to or on. the due .date of the next ,monthly .payment, or
<br /> (ii) Borrower defaults by failing, for a period of .thirty days, to perform any other obligations
<br /> contained. in. this' Security.Instrnnnent.
<br /> (b) Sale Without Credit Approval, Lender shall, if permitted by .applicable law (including section 341(d)
<br /> of the Garn-St. Germain Depository Institutions A. ct .of 1982, 12 U.S.C. 1701j-3(d)) and with the prior
<br /> approval of the:Secretary, require immediate payment in full of all sums.secured by this Security Instrument if:
<br /> (i) All or part, of the. Property, or a beneficial:interest in a trust,owning all or part of the Property, is
<br /> sold or otherwise transfetred (other than by devise or descent), and
<br /> (ii) The Property is not occupied .by the purchaser or grantee as his or her principal residence, or the
<br /> purchaser or grantee does so occupy the Property, but his or het credit has not been approved in
<br /> accordance with. the. requirements of the Secretary.
<br /> (c) No Waiver. If circumstances occur that would permit Lender to require immediate payment in full,
<br /> but Lender does;.notrequire such: payments, Lender does not waive its rights with.respect to subsequent events.
<br /> (d) Regulations>=of'HUD Secretary. InInany circumstances.regulations issued by the Secretary will limit
<br /> Lender's nights,. in the .case. of payment defaults, to require immediate. payment in full and foreclose if not
<br /> paid. This Security Instrument does not. authorize -acceleration or foreclosure if not permitted by regulations
<br /> of the Secretary.
<br /> (e) Mortgage Not Insured. Borrower agrees that if this. Security Instrument and the Note are not
<br /> determined to be eligible for insurance under the National Housing Act within 60 DAYS
<br /> FHA NEBRASKA DEED OFTRUST - MERS pocAfegle6Pk=nV 800-648-1367
<br /> NEDOTZ.FHA. 11101108 Page 3 of 7 www.docrnaglc.com
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