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I.oan No: 100410060077 2 � i � �/ 4 9�j Data ID: 794 6. Condemnation. The proceeds of any award or cldim for damagcs, direct or cvnscqucntial, in c;onnection with any condemnation or �ther takin�; of any part of the Property, or for conveyance in place of condemnation, are hereby assigned and shall be paid to L.ender to the extent of the full amount of the indebtedncss that remains unpaid under the Note and this Security Instrument. L.ender shall apply such proceeds to the reduction �f the indebtedness under the Note and this Security Instrument, first to any delinquent amounts applied in the order pr�vided in paragraph 3, and then to prepayment of principal. Any applicaiion of the proceeds to the principal shall not extend or postpone the due date of the monthly payments, which are referred to in paragraph 2, or change the amount of such paymcnts. Any excess proceeds over an amount required to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity legally entiiled theretn. 7. Charges to Borrower and Protection oF I.ender's Rights in the Property. Borrowcr shall pay all governmental or municipal charges, Cines and impositions that are not included in paragraph 2. Borrower shall pay these obligations on time direcily to the entity which is owed the payment. If failure to pay would adversely affect Lender's interest in the Pr�perty, upon Lender's request Bnrrower shall prornptly furnish to I,cnder receipts evidencing lhese payments. If Borrower fails to make these payments or the payments required by paragraph 2, or fails to perform any other covenants and agreements contained 'an this Security Instrumenc, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, for c:ondemnation or to enforce laws or regulations), then TJender may do and pay whatever is necessary to protcct the value of the Property and T,ender's rights in the Property, includrng payment of taxes, hazard insurance and other rterns mentioned in paragraph 2. Any amounts disnursed by Lender under this paragraph shall becc�rne an additional debt �f Borrower and be secured by this Security lnstrument. These amounts shall bear interest from thc ciate of disbursement al the Note rate, and at the option of I.enaer shall bc immediately due and payable. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acccptable to I.ender; (b) contesls in good faith the licn by, or defends against enforcement of the lien in, le�al proceedings which in the L.c.nder's opinion aperate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lcnder subordinating the lien to this Security Instrument. If L,en.der determincs that any part of the Propercy is subject ta a lien which may attain priorrty over this Security Instrument, Lender rztay give Borrower a notia: idcntifying the lien. Borrower shall satisfy the lien or takc one or more of the actions set forth above within 10 days oI' the giving of noticc. 8. Fees. T,cnder may wllect fees and charges authorized by the Secretary. 9. Grounds for Acceleration of Debt. (a) Default. L.ender may, except as limited by regulations issued by the Secretary in the case of paymcnt defaults, require irnmediate payment in full of all sums secured by this Security Instrument iC: (i) Borrower defaults by failing io pay in full any monthly payment required by this Security Instrument prior to or on the due date o[� the next monthly payment, or (ii) Borrower defaults by failing, for a period of thirty clays, to perform any other ohligations cont�iined in this Security Instrumcnt. (b) Sale Without Credit Approval. Lcnder shall, 'rf permitted by applicable law (includrng section 341(d) of the Garn-St Germain Dcpository Institu�ions Act of 1982, 12 U.S.C. 1701j-3(d)) and with the prior approval of the Secretary, require imrnediate payment in full of all surns secured by this Security Tnstrument if: (i) All or part of the Property, or a beneficial interest in a trust owning all nr part of the Property, is sold or otherwisc transferred (other than by devise or descent), and (ii) The Property is not ou.upied by the purchaser or grantee as his or her principal residencc, or the purchaser or grantee does so oc:cupy the Property, but his or her credit has not been approved in accordance with the requirements of the Secretary. (c) Nu Waiver. If circumstances occur that would permit Lendcr to require immediate payrncnt in full, but L,ender does not require such payrnents, l.ender does not waive its rights with respect t� subscquent events. (d) Regulations �f HUD Secretary. In many circumstances regulations issued by the Secretary will limit Lender's rights, in the case of payment defaults, to rcquire immediate payment in full and foreclose if not paid. This Security Instrument does not authorize acceleraiion or foreclosurc if not permitted by regulations of the Secretary. (e) Mortgage Not Insured. Borrower agrecs that if this Security Instrument and Che Note are not determined to be eligible for insurance under the Natinnal Housing Act within 90 days from the date hereol', Lender may, at its option require imtnediate payment in full nf all sums secured by this Security Instrument. A written statement of any authorized agent of the Secretary dated subsequent to 90 days from thc date hereoP, declining to insure this Security Instruznent and the Note, shall be deemed conclusive proof �['such ineligibility. Notwithstanding the foregoing, this option may not bc e.xercised by Lender when the unavailability of insurancc is solely due to Lender's failure to remit a mortgage insuranu; premium to the Secretary. 10. Reinstatement. Borr�wer has a right to be reinstated if Lender has required immediate payment in full because of Borrower's failure to pay an amount due under the Note or this Security Instrument. This right applies cven a�ter foreclosure proceedings are instituted. To reinstate the Security Instruztlent, Borrower shall tender in a lump sum all amounts required to bring Borrower's account current including, to the extent they are obligations ot B�rrower under this Security Instrument, foreclosure costs and xeasonable and customary attorncy's fees and expenses properly assoc'rated with the foreclosure proceeding. Upon reinstatement by Borrower, this Security lnstrument and the obligations that it secures sha11 rernain in effect as if Lender had not required itnmediate payment in full. However, Lender is not require�l to permit reinstatement if: (i) Lender has acc;epted reinstatetnent aftcr the commencemenk of forcclosure proceedings within two years immediately preceding the cornmencernent of a current foreclosure proceeding, (ii) reinstatement will preclude foreclosure on different grounds in the future, or (iii) reinstatement will adversely �iffect the priority of thc lien created by this Security Instrument. 11. Borrower Not Released; Fbrbearance By I.ender Not a Waiver. Extcnsion of the time of payment or modrfication of arnortization of the sums secured by this Seeurity Instrument granted hy Lc;nder to any sueeessar in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successor in intcrest. Lender shall not be rcquired to coz�tmence proceedings against any successor in interest or refuse to extend timc for payrnent or otherwise modify amortization of the sums secured by this Security Instrurnent by reason nf any demand made by the original Borrower or Borrower's success�rs in int�rest. Any forbearanc:c by Lender in exercising dny right or rernedy shall not be a waiver of nr preclude the exercise of any right or remedy. NEBRASKA F'HA DEED OF TRUST 1/02 (Page 3 of 5 Pages)