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Fourth, to arnortizution of thc principa] of the Noic; and 2 010 0 9 4 5 .�"�
<br />I'ifih, to late charges du� uncier thc Note,
<br />4. Fire, Flood and Other Hazard Insurance. Borrowcr sh<ill insurc all irnprovcmcnis on ihe Property, whether now in
<br />existence or subsequcnLly crccted against any hazardti, casua.liieti, and contingcncieti, inclu�ling ftre:, for which Lender
<br />requires insurancc. "I'his insur�nce shall bc mainCained in lhc amounts and for thc periods that Lcndcr rcquires. Borrawer
<br />shall alsa insurc all improvements �n the Property, whclhcr now in cxistence or subscqucnlly crcctcd, against loss by
<br />Iloods to the extent required by th� Sccrctary, All insurance shall he carried with companies approved by Lender. The
<br />insurance policies and any renewals sh�ll he held by Lender and shall incluc�e loss payable clauses in favor of, and in a
<br />form acceptablc to, Lender,
<br />In the event oF loss, Borrowcr shall give Lender irnm�diate naiicc by rnail. Lcndcr rnay makc proof of los� if not made
<br />prom}�tly by $orrowcr. �ach insur�ince company concerneci is herc:by auihorizcd anci directed to mak� payment for such
<br />loss directly lo �,�ndcr, insccad of to Borrower and io Lender joinily. All or any pari of ihc insurance procceds may be
<br />applied by Lender, at it5 option, cilher (a) to the reduction of the indebtedness under the Note and this Security Instrument,
<br />tirst to any dclinqucnt amounCs applied in the ordcr in Paragraph 3, and ihcn lo prc:paymcnt of principal, or (b) to ihe
<br />restoration or repair of the damaged Property. Any application of lhc procecds Co lhc principal shall nol extend or poslpone
<br />the due datc of thc monthly pa.yments which are referrcd to in Paragraph 2, or chan�e the amount of such paymenls. Any
<br />exccss insurance proceeds over an amount required to pay all outstanding indehtedness under the Note and this Security
<br />Tnstrument shall be paid to the entiiy lcgally entitled thereto.
<br />In the eveni ol forcclosure of this Securiiy Instrumcnl or othcr tr�►nsfer of title to the Property that extinguishes thc
<br />indebtedncss, all ri�ht, title and interest of Borrower in and to insurance policies in force shall pass to the purchaser.
<br />5. Occupancy, Preservation, Maintenance and Protection di the Property; Borrower's Loan Application; Leaseholds.
<br />Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty days after the
<br />cxccution of this Security Instxurncni (or within sixty days of a later sale or transfer of th,e Pro}�erty) and shall continue
<br />to occupy the Property as Borrowc:r's principal residence for at least one year after the date of occupancy, unless Lender
<br />dcicrmines that requirement will causc undue hardship for Borrower, nr unless extenuating circumstances exist which
<br />arc bcyond Borrower's control. B��rrowcr shall notify Lender of any extenuating circumstances. Bprrower shall not commit
<br />wasle or destroy, damage or subslantially change the Property or allow the Praperty tn deteriorate, reasonable wear and
<br />icar cxcepted, Lender may inspe:ct ihc Property if the Property is vacant or ahandoned or the loan is in default. Lender
<br />may take reasonable actinn to protccl and preserve such vacant or ahandoned Property. Borrower shall also be in clefault
<br />if Borrowcr, during the loan applicaiion process, gave materially false or inaccurate information or statements to Lender
<br />(or failcd to provide Lender with any matcrial information) in connection with the loan evidenced hy the Note, including,
<br />but not lirnited to, represent�tions conccrning Borrower's occupancy of the Property as �t princip�l residence. If this
<br />Security Instrument is on a leasehc>lcl, Borrower shall comply with the provisions of the lease. If Borrower acquireti fee
<br />title to lhe Property, the leasehold and fee title shall not be merged unless Lender agrees to the merger In wriking.
<br />6. Condemnatiort. "1'hc procccds of any award ar claim For damagcs, direct or consequcntial, in connection wilh any
<br />condemnation or other taking of any part of thc Property, or for conveyance in place of condemnation, are hereby assigned
<br />and shall be paid to Lcnder to the extent of thc full amount of the indebtedness that remains unpaid under the Note and
<br />this Securiiy Instrument. Lender shall apply such procceds to the reduction of the indebtedness under the Note and this
<br />Security Instrumc;nt, first to any delinquent amounts applicd in the order provided in Paragraph 3, and then to prepayment
<br />of }�rincipal. Any application of the proceeds to ihe principal sha11 not cxtcnd or postpone thc due date of the monthly
<br />payrnents, which are referred to in Paragraph 2, or change the amount of such payments. Any excess proceeds over an
<br />amount requircd to pay all outstanding indebtedness undcr lhc Notc and this Security Instrumcnt shall be pa'rd to thc
<br />entity legally eniiiled thereto.
<br />7. Charges to Borrower and Protectiort of Lender's Rights in the Property. Borrower shall pay all governmental or
<br />municipal chargc;s, lines �nd im}�ositions that arc not included in P�r�graph 2, Borrower shall pay these ohligations on
<br />HCFG-00703
<br />FHA Deed of Trust-NE Revised 4/96
<br />VMP�
<br />Wolters Kluwer Financial Services 201012153.5.0.0.400220100630Y Page 3 oi 7
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