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2o~ooss43 security is not lessened. If the restoration or repair is not economically feasible yr Lender's security would be lessened, the insurance proceeds shall be applied first to the reduction of any indebtedness under a Send Nate and Second Security Instrument held by the Secretary on the Property and then to the reduction of the indebtedness under the Nate and this Security Instrument. Any excess insurance proceeds over an amount required to pay all outstanding indebtedness under the Nnte and this Security Instrument shall be paid to the entity legally entitled thereto. In the event of foreclosure of this Security Instrument or other transfer of title tv the Property that extinguishes the indebtedness, all right, title and interest of Harrower in and to insurance policies in force shall pass to the purchaser. 4. Occupancy, Preservation, Maintenance and Protection of th® Property; Borrower's Loan Application; Leaseholds. Borrower shall occupy, establish, and use the Property as Borrower's principal residence after the execution of this Security Instrument, and Harrower (or at least are Borrower, if initially more than one person are Borrowers) shall cantinas to occupy the Property as Borrowers principal residence for the term of the Security Instrument. "Principal residence" shalt have the same meaning as in the Loan Agreement. Borrower shall not commit waste ar destroy, damage ar substantially change the Property or allow the Property to deteriorate, reasonable wear and tear excepted. Hvrrower shall also be in default if Borrower, during the loan application process, gave materially false ar inaccurate information or statements to Lender (or failed to provide Lender with any material information) in connection with the loan evidenced by the Nate, including, but not limited to, representations concerning Bnrrows~s occupancy of the Property as a principal residence. If this Security Instrument is on a leasehold, Borrower shall comply with the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and fee title shall not be merged unless Lender agrees to the merger in writing. 5. Charges to Borrower and Protection of Lender's Rights In the Property. Borrower shall pay all gavemmental or municipal charges, fines and impnsitbns that are rat included in Paragraph 2. Borrower shall pay these nbligatbns on time directly to the entity which is owed the payment. If failure to pay would adversely affect Lender's interest in the Property, upon Lender's request Borrower shall promptly furnish to Lender receipts evidencing these payments. Borrower shall promptly discharge any lien which has priority aver this Security Ir-stniment in the manner provided in Paragraph 12(c). If Borrower fails to make these payments or the property charges required by Paragraph 7, or fails to perform any other covenants and agreements contained in this Security Instrument, ar there is a legal proce~ling that may significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, for condemnation nr to enforce laws ar regulations), then Lender may da and pay whatever is necessary to protect the value of the Property and Lender's rights in the Property, including payment of taxes, hazard insurance and other items mentioned in Paragraph 2. 7o protect Lender's security in the Property, Lender shall advance and charge to Borrower all amounts due to the Secretary for the Mortgage Insurance Premium as defined in the Loan Agreement as well as all sums due to the ban servicer far servicing activities as defined in the Laan Agreement. Any amounts disbursed by Lender under this Paragraph shall become an additional debt of Harrower as provided far in the Loan Agreement and shall be secured by this Security Instrument. 6. Inspection. Lender or its agent may enter on, inspect yr make appraisals of the Property in a reasonable manner and at reasonable times provided that Lender shall give the Borrower notice prior tv any inspection or appraisal specifying a purpose far the inspection or appraisal which must be related to Lender's interest in the Property. If the Property is vacant ar abandoned ar the loan is in default, Lender may take reasonable action to protect and preserve such vacant or abandoned Property without notice to the Borrower. 7. Condemnatton.The proceeds of any award ar claim for damages, direct or consequential, in connection with any condemnation or other taking of any part of the Property, nr far conveyance in place of condemnation shall be paid to Lender. The proceeds shall be applied first to the reduction of any indebtedness under a Second Nots and Second Security Instrument held by the Secretary on the Property, and then to the reduction of the indebtedness under the Note and this Security Instrument. Any excess proceeds over an amount required to pay all outstanding indebtedness under the Nate and this Security Instrument shall be paid tv the entity legally entitled thereto. 8. Fees. Lender may collect fees and charges authorized by the Secretary. First American Loan Production Services Nebraska HELM ARM Security Instrument Q 20D6 First American Real Estate Solutions LLC FALPS # YQ73 : 05JD8 Page 3 NMFL ay89i3NE (QKNE)