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<br />and shall continue to ocaupy the Property as Borrower's principal residence for ut least one yearr at�er the date of
<br />occupancy, unless T.ender deteru�ines that requireir�ent will cause undue hardship for Borrow+er, or unless extenuating
<br />cireumstances exist which are beyond Borrower's cantral. Borrower shall notify Lender of any extenuating
<br />circumstances. Borrower ahall not commit waste or deatroy, damage or substantially change the Praperty or allow
<br />the Prop�rty 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 W protect and preserve such vacanc
<br />or abandonad Prdperty. Borrower ehall also be in default if Ba�rowcr, during the loan applicatian process, gave
<br />mat�rially false or inaccurate informat�ion or statements to Lender (oc failed tn provide Lender with any materisl
<br />information) in cannection with the loan evidenced by the Nate, includrng, but not limited ta, representations
<br />concernin$ Borrower's accupancy of the Property as a principal residence. If this Security Instrunnent is an a
<br />leasehold, Borrower shall comply with the provisions of the lease. If Borrower acquires fee title to the Property, khe
<br />leasehold and fee title sha11 not be merged unless Lender agreea ta the merger in writing.
<br />6. Condenanatlon. The proc,eeds of any award or claim for damages, direct or consequential, in connecdon
<br />with any condemnation or other taking of arry part of the Property, or far conveyance in place of condemn.ation, are
<br />hereby assi$ned and shall be paid to Lender to the extent of the �ull amount of the indebtedness that remains unpaid
<br />urui�r the Note and this Security Instrument T.ender shall apply sucln proceeds to the reduction of tl�e indebtedness
<br />undex the Note and this Security Tnstrument, firat to any delinquent amounts applied in cha order provided in
<br />paragraph 3, and then to prepayrnent af principal. Any application of the proceeds to the principat shall not extend
<br />or postpone the due date af che rnonthly payments, which are raferrod to in paragraph 2, or change the amount of such
<br />payments. Any excess proceeds over ari amou�nt required to pay ali outstanding indebtcdneas under the Note and this
<br />Security Instrument shall be paid to the e�rtity legally entitled thereto.
<br />7. Charges to Borrower and Protec#bn vf I.ender'� Rights in the Propea-ty. Borrower shall pay all
<br />governmental or municipal charges, fines end impdsitiuns that are n� included in paragraph 2. Borrower shall pay
<br />thesc nbligations on time directly to the entity which is owed the payment. If failure to pay would adveraely affect
<br />Lender's interest in the Property, upon Lender's request $arrawer shall promptly furnish to Lender receipts
<br />evidencing these payments.
<br />If Borrower fails to make these paymaits or the payments required by paragraph 2, or fails to perform any other
<br />cavenants and agreernents contained in this Security Instrument, or thcre is a lcgal proceeding that may significantly
<br />affect T,ender's rights in the Property (such as a proceediung in bankruptcy, for condemnation or to enforce laws or
<br />regulations), then Lender rnay do and pay whatever is necessary to protect rhe 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 disbuxsed by Lender undec this paragraph shall become an additional debt of Borrower and be
<br />securad by thia Security Instxumanx These amounte shall bear interest from thB date of disbursement ac the Note rate,
<br />and at the option of Len.der shall be immediately due aad payable.
<br />Borrower shall promptly discharge any lien which has priority ovcr this Secuxity Ins�ument unless Borrawer:
<br />(a) agrecs in writing to the payment of the oblig�tion secured by the lien in a manner acceptable to Lender; (b) cantests
<br />in good faid� the liem by, or defends against enfarcement of thc lien in, legal proceedings which in the Lender's
<br />opinion operatc to prevent tho enforcemcnt of the lieq or (c) securea from the holder of the lien sn agreement
<br />satisfactory to Lender subordinating the lien W this Security Instruix�ent. If Lender dete�'mines that any part of the
<br />P�roperty is subject ta a IiBn which nnay attain priority ovvr this Secuc�ry Tnstrument, Lender may give Borrower a
<br />notice identifyiu�g the licn. Barrower shal( satisfy the li�n ar take one or more of the actions set forth above within
<br />10 days of the givieg of notice.
<br />8. Fces. L,ender may collect fees and charges authorized 6y the Secretary.
<br />9. Grounds Por Acceleration of Debt
<br />(a) De.faul� �.ender may, except as limited by regulatio►as issued by the Secratary ia the case of payment
<br />defaults, require immediate payment in full of all sums secuced by this Secucity Insp�ument if:
<br />(i) Sorrower defaults by failing to pay in fiill any monthly payment required by this Security
<br />Instrument priar to or on tt�,e due date of the next monthly pay;ment, or
<br />(ii) Borrower defaults by feiling, fpr a period of thirty days, to perform any other obligations
<br />contained in this Security Instrument.
<br />(b) Sale Withoat Credit Approval. L�der shall, if permitted by applicable law (in.cluding seetion 341(d)
<br />of the Garn-St. Cienmain Uepoaitory Tnstitutiona Act of 1982, 12 U.S.C. 1701j-3(d)) and with the prior
<br />approval of the Sca�etary, require immediate payment in full of all sums seaued by Nvs Security Instnume�nt if
<br />(i) All or part of the Praperty, ar a beneficial intere�st in a truet owning all or part of the Property, is
<br />sold or othcrwise transferrcd (other than by devisc or desccnt), and
<br />(ii) Tha Proporty is not occupied by the purchaser or grancee as his or her principal residence, ar the
<br />purchaser or grantee does so occupy the Property, but his or her credit has not been approved in
<br />acnordance with the requiranents of the Secretaty.
<br />(c) No Waiver. Tf circumstances occw that would pcxrait Lendcr to require immediate paynnent in full,
<br />but C.ec►de�r does not require such payr�nents, Lender does not waive its ri�irs with res�a�t to subsequent events.
<br />(d) Regnlatlona of HUD Secretery. In many circumstances regulations iesued by the Secretary wrll limit
<br />Lcnder's rights, in thc case of payment defaults, W reyttire immediate payment in full and foreclase if nat
<br />paid. This Sccurity Instruument does not authorize acceleration or foreclosure if not permitted by regulations
<br />of the Searetary.
<br />(e) Martgage Not Ineured. Borrower agreea that if this Sccurity Inatrument and the Note arc not
<br />determined to be eligible for insurancc undcr the Natianal Houaing Act within 6 0 DAYS
<br />FHA NEBWI3KA DEID OF 7RUS'1" - M9iS DocMay�lc �vavr,� aoaa�aiaos
<br />NmOTZ,FliA 11/U1108 F+age 3 af 7' www.docmq�lc.com
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