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<br />1111056927
<br />Third, ta interest duc under the Note;
<br />Fourth, to amortizaiion of the principal pf the Note;
<br />Fifth, to late charges due under the Note.
<br />4. Fire, Flood and Other Hazard Insurance. I3orrowcr shall insure all improvemen[s on the Property, whether now
<br />in existence or subsequently erected, against any hazards, casualties, and contingencies, including tire, for which [.ender
<br />requires insurance. This insurancc shall bc maintained in thc amounts and for the periods that Lender requires. Borrower shall
<br />also insurc all improvements on the Property, whether now in existence or subsequently erected, against loss by floods to the
<br />extent required by the Secrctary. All insurance shall bc carricd with companies approved by Lender. The insurancc policics and
<br />any renewals shall bc hcld by Lender and shall include loss payable clauses in favor of, and in a forn� acceptable to I.ender.
<br />In the event af lass, Borrowcr shall givc Lender immediate notice 6y mail, Lcnder may make proof of loss if not madc
<br />promptly by Borrower. Each insurance company concerned is hereby authorized and directed to make payment for such lass
<br />directly to I.ender, instead of to Borrower and to Lcndcr jointly, All or any part of the insurance procecds may be applied by
<br />Lender, at its option, cithcr (a) tn the reduction of the indebtedness under the Note and this Security Instrument, �rst to any
<br />delinquent amounts applied in the order in para�raph 3, and then to prepayment of principal, or (b) to thc restoration or rcp�+ir
<br />of the damagcd Property. Any application of the proceeds to the principal shall not extend or postpone the due date of the
<br />monthly payments which are referred to in paragraph 2, or change the amount of such payments. Any excess insurance
<br />proceeds over an amount required to pay all outstanding indebtedness under the Notc and this S�curity lnstrument shall be paid
<br />to che entity legally entitled thereto,
<br />In the event of foreclosure of this Security lnstrument or other transfer of title to the Property that �xtinguishcs the
<br />indebiedness, all right, title and interest of Borrower in and to insurance policies in force shall pass to the purchaser.
<br />5. Oceupancy, Preservation, Maintenance and Protection of the property Borrower's Loan Applicatiun;
<br />I..easeholds. Borrnwer shall occupy, estahlish, and use the Property as Borrower's principal residence within sixty days after
<br />thc exccution of this 5ecurity lnstrument and shall continue to occupy the Property as Borrower's principal residence for at
<br />leasi one year after ihe aate of'occupincy, unless the 5ecret�ry determines ttiis requirement will cause undue hardship for
<br />Borrawer, ar unlcss cxtcnuating circumstances exist which are beyond f3orrowcr's controL Borrower shall notify Lcndcrs of
<br />any extenuating circumstances. Borraw shall nat commit waste or destroy, damage or substantially chan�e th� Property or
<br />ailow the Property to deteriorate, rcasonable wcar and tcar exccpted. Lender may inspect the Property if the Property is vacant
<br />or abandoned or the loan is in default, I,ender may take reasonable action to protect and preserve such vlcant or abandoned
<br />Pr�perty, Borrawer shall also be in default if f3orrowcr, during the loan application process, gave materially false or inaccurate
<br />inFormation or scat�ments to Lender (or failed to provide I.ender with any material information) in connection with the loan
<br />evidenced by the Note, including, but not limited to, rcpresentations concerning Borrower's occupancy of the Property as a
<br />principal resid�nce. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of che lease. If
<br />Borrawer acquires fee title to thc Property, thc lcaschold and fee title shall not be merged unless Lender agrees to the merger in
<br />writing.
<br />6. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />condemnation or other takin� af any part of the Property, ar for conveyance in place of condemnation, are hereby assigned and
<br />shall be paid to Lcnder to thc cxtcnt of the full amount of thc indcbtcdncss that remains unpaid undcr thc Notc and this Sccurity
<br />Instrument. Lender shall apply such procecds to the reduction of the indebtedness under the Note and this Security Instrument,
<br />�rst to any delinquent amounts applied in the order provided in paragraph 3, and then to prepayment of principal. Any
<br />applicatian of the proceeds to thc principal shall not cxtend or postpone the due date of the monthly payments, which are
<br />r�ferred to in paragraph 2, or change the an�ount of such paymei�ts. Any excess proceeds over an amount rcquired to pay all
<br />outstanding indebtedness under thc Notc and this Security Instrumcnt shall be paid to the entity legally entitled thereto.
<br />7. Charges to Borrower and Arotection of I,ender's Rights in the Property. Borrower shall pay all governmental
<br />or municipal chargcs, fines and impositions that arc not includcd in paragraph 2, Borrowcr shall pay these obli�ations an time
<br />directly to the entity which is owed the payment, lf failure to pay would adversely affect Lender's interest in the Prpperty, upe�n
<br />Lender's rcqucst I3orrowcr shall promptly furnish to Lender rcceipts cvidencing thcsc payments.
<br />If Borrower fails to makc [hese paym�nts or the payments required by paragraph 2, or fails to perform any other
<br />FFIA Nebraska Deed Of Trust - 07/08
<br />�:� 391.6 Pagc 3 uf 7
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