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2oi�oois-� LJNIFORM COVENANTS. Borrower and Lender covenant and agr'ee as follows: 1. Payment of Principai and Interest. Borrower shall pay when due thc principal of, and interest on, thc debt evidenced by the Secand Note. 2. Payment of Property Charges. Barrower shall pay all property chargcs crnisisting of taxes, ground rents, flood and hazard insurance premiums, and special asscssments in a timely manner, and shall provide evidence of payment to Lender, unless Lender pays property charges by withholding funds from monthly payments duc to the Borrower oc by charging such payments to a line nf crcdit as provided for in the Loari A�reement. Lender may requirc Borrower to pay specificd properry charges directly to the party owed payment even thou�h Lcnder pays other property charbes as provided in this Para�raph, 3. Fire, Flood and Other Hazard Insurance. Borrawer shall insure all improvements an the Property, whether now in existence or subsequently erccted, against any hazards, casualties, and contingencies, including fire. This insurance shall be maintaincd in the amounts, to the extent and far the periods required by Le;nder. Borrower shall also insure all improvements on the 1'rnperty, whether now in existence ar subscquently erected, against lpss by floods to the extent required by Lcnder. The insurance policies and any renewals shall be held by Lender and shall include loss payable clauses in favar of, ar►d in a form acceptable to, Lender. In the event of loss, Bprrower shall give �ender immediate notice by mail. Lender may make proof of loss if not made promptly by Borrower. Eaeh insurance company concerned is hc,�reby authorized and directed to make payment for such loss to Lender, instead of to Bnrt'awcr and Lender jointly. Tnsurancc proceeds shall be applied to restoration ar repair of the damagcci Property, if the restoration or repair is economically feasible and Lender's security is not lessened. If the restaration or repair is not economically feasible or Lendcr's security would be lessened, the insurance proceeds shall be applied �rst to che reduction of any indcbtcdness under the Second Npte and this Security Instrument. Any excess insurance proceeds over an amount required to pay all outstanding indebtedness under the Second Note aiid this Security [nstcument shall be paid to the entity legally entitled thereto. In the event of fareclosure of this Security Instrument or other transfer of title to the Property that extinguishes the indebtedness, all right, title and interest of Borrower in and to insurance policies in farce shall pass to the purchascr. 4. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan Application; Leaseholds. Borrower shall occupy, establish, and use the Property as Borrower's principal residence after thc execution of this Security Instrument and Borrower (or at least one Borrower, if initially more than one persrni are Borrowers) shall continue to occupy the Properiy as Borrowcr's principal residence fpr the term of the Security Instrument, "Principal residence" shall have thc same meaning as in the Loan Agreement. Borrower shall not commit waste or destroy, damage or substantially change the Property nr allow the Properiy to deteriarate, reasonable wear and tear excepted. Barrower shall also be in default if Borrower, during the loan application process, gave materially false or inaccuratc information ar statements to Lender (or faile�l to provide Lc,�yder with any material information) in connecfion with the lpan evidenced by the Note, including but not limited tp, representations coneerning Borrower'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 ritle shall nnt be merged unless Lender agrees to the merger in writing. 5. Charges to Borrower and Protection of Lender's Rights in the Prnperty. Borrower shall pay all governmental or municipal charges, frrtes and impositions that are not included in Paragraph 2. Borrower shall pay thesc obligations on time direc�tly to the entity which is owed the payment. If failure to pay would adversely affect Lender's interest in the Property, upau Lcnder's request Borrower shall promptly furnish to Lendcr receipts evidencing these payments. Borrower shall promptly discharge any lien which has priarity over this Security [nstrument in the manner provided in Paragraph 12(c). If Borrowc,�r fails to make these paymcnts or the property charges required by Paragraph 2, or fails tp pc,�rform any other Nebraska 2 Deed of Trust (Fixed) Page 2