201100303 - Laserfiche WebLink

Browse

2oi�oo3o3 5. Occupancy, Preservation, Maintenance and Protection of the Property; Sarrower's Loan Application; Leasehalds. Borrower shall occupy, establish, and use the Property as Barrower's principal residence within sixty days after the execution of this Security Instrument (or within sixty days of a later sale ar transfer of the Properry) and shall continue to occupy che Property as Borz'ower's principal residence for at least one year after the date of occupancy, unless Lendex determines that requirement will cause undue hardship for Borrower, ar unless extenuating circumstances exist which are beyond Barrower's control. Borrower shall notify Lender of any extenuatang circumstances. Borrowex shall not commit waste or desCroy, damage or substantially change the Property or a11ow the Property ta deCeriorate, reasanable wear and tear excepted. Lender may inspect the Property if the Property is vacant or abandoned or the loan is in default. Lender may take reasonable action to protect and preserve such vacant or abandoned Proparty. Borrower shall also be in default if Bonnwer, during the loan application pmcess, gave materially false or inaccurate infarmation or statements to Lender (or failed ta provide Lender with any material information) in connection with the loat� evidenced by the Note, including, but not limited to, representations conceming $orrower's occupancy of the Property as a principal residence. If this Security lnstrunnent is an a leasehold, Borrower shall comply with the provisions af the lease. If Borrower acquires fee title to the Fropez the leasehold and fee title shall not be zn�erged unless Lender agrees to the merger in writing. 6. Condemnation. The proceeds of any award or claim far damages, direct or consequential, in connection with any condetxu�ation or other taking of any part of the Property, or for conveyance in place of condernnation, are hereby assigned and shall be paid to Lender to the extent of the full amount of the indebtedness that remains unpaid under the Note and this Securiry Instrurnent. Lender shall apply such proceeds to the reduction of the indebtedness under the Note and this Securiry Instrument, first to any delinquent amounts applied in the order provided in Paz'agraph 3, and then to prepayment of principal. Any applicatian of the proceeds to the principal shall not extend or postpone the due date of the monthly payments, whxch are referred to in Paragraph 2, or change the amaunt of such payments. Any excess proceeds over an amount required to pay all outstanding indebtedness under the Note and this Securiry Instxument shall be paid to the entity legally entitled thereto. 7. Charges to Sorrower and Protection af Lender's Rights in the Property. Borrower shall pay all governm�ntal or municipal charges, fines and impositions that are nat included in Paragraph 2. Borrower shall pay these obligations on time direcdy to the entity which is owed the payment. If failure to pay would adversely affect Lender's interest in the Properry, upon Lender's request Borrower shall prornptly furnish to Lender receipts evidencing these payments. If Borrower fails to make these payments or the payments required by Paragraph 2, or fazls to perform any other covenants and agreements contained in this Security Instrurnent, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in banl:ruptcy, for condemnation ox to enforce laws or regulations), then Lender may do and pay whatever is necessary to protect the value of the Praperiy and Lender's ri�hts in the Propeny, including payment of taxes, hazard insuz'ance and other items tnentioned in Paragraph 2. Any amounts disbursed by Lender under this Paragraph shall become an additional debt of Borrower and be secured by this Security Instrurnent. These amounts shall bear interest from the date of disbursement at the Note rate, and at the optian of Lender shall be immediately due and payable. Borrower shall proznptly discharge any lien which has prioriry over this Securiry Instrument unless Barrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedirigs which in the Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder af the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If I,ender determines that any part of the Property is subject to a lien which znay attain prioriry over this Security Instrument, Lender may give Borrower a naCice identifying the lien. Borrower sha11 satisfy the lien or take one or more of the actions set forth above within l0 days of the giving of nntice. 8. Fees. Lender may collect fees and charges authorized by the 5ecretary. GV2171-4 (696) Page 4 of S FHA Nebraska Deed of Trust I IIIIII II�II IIIII III�I II�1' III�I II�� IIIII IIIII IIIII I�II IIIIIII �II �II�I� II'�I II�II I�I�I IIII IIII ], 1 0 1 3 1 3 2 2 � G V 2 1 7 1 � � /'�