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20110393�
<br />item�s (a), @), end (cj a3ad any mortgage insutance pzemiuuz i.nsi�.11ment tlaat Lender has not become obligated to pay to t6e
<br />Secretazy, and I.ender sbalI pxoznptly refixad any excess fwnds to Borrower. I�nmediately prior to a fozaclosure sale of the
<br />Properiy or its acquisition by I.ender, Borrower's account shall be credited with any balance rema;nina for a1I installmen#s for
<br />items (a), (b}, and (c).
<br />3. Applica�zon of Papmeai�. AII payments under paragraphs I and 2 sha.lt be applied by Lendec as follows:
<br />�7RST, to the mortgage instuance premicuu to be paid by Leuatar to the Secretazy or to the monthly charge by the
<br />Secretary zustead of t1�e mozitlzly mortga.ge ins�raance premium;
<br />SECOND, to any taYes, special assessments, leasehoid payments or ground rents, and fire, flood and other hazard
<br />inst�auce premiums, as required;
<br />THIRD. to interest due wuder the Nota;
<br />FOURTH, ta amartizatifln of the principaI af the Note; and
<br />TTFT�T, to late charges due under the Note.
<br />4. Fire, Flood and �ther Hazard Insurance. Bonrower sb�all insnre aIl improveznents on the Property, whether now in
<br />existence or subsequemtly erected, against any hazards, casu.alties, and contingencies, inclnding �e, for wbsch Lez�der requires
<br />insurance. This insurance sha11 be maintained in tlte aznounts and for tlie periods that Lender requires. Borrower shall aLso
<br />uaswre al] improvements on the Property, whether now in existance ar subsaquently erected, against loss by floads to the e7ctent
<br />required by the Secretary. ,All imsuzauca sb.all be cazried with coxupauies appraved by Lender. The insurance policies and any
<br />renewals shaIl be helc3 by Letzdez and sb.ali include loss payable clauses iun �avor o� and in, a ftirm acceptable to, Lender,
<br />Yn the event o� loss, Borcower sb.all give Lender imme,d�iate notice by mazl. I.ender may make praof of loss if not made
<br />promptly by Borrovaer. Each insvzance company concerned is hereby auttiorized and directed to make payment for such loss
<br />directly to Lender, instead of to Borrower and to Lender jointly. All or any pazt of the iusua�ance proceeds may be a}�plied by
<br />Lenrier, at its optian, eXtb.er (a) to tbe reducdion of #he zndebtedness wadez the Note a�d this Secarity Instrument, first to any
<br />deline�uent aanounts applied in t}xe order iz� paragraph 3, and then to �xepayment of principal, or {b} to the restoration or zepair of
<br />the da�maged Properiy. Any application of the pzoceeds to #he pzincipal sha� not extend or postpone the flue date of the monthly
<br />payme�xts wbacb are referred to �uo. paragraph 2, or chan.ge the amount of such payments. Any excess ins�rance groceeds over
<br />an amaunt required tn pay all outstandimg indebtedness undez the Note aud this Securrry Instrument shall be paid to the entity
<br />legally entatled tl�ereta.
<br />Zn the evettt of foreclosure of fibis Sect�,rity Instrument or othez tra�asfez of t�tle to the Praperry that extinguishes the
<br />indebtedness, all right, iitle and interest af Borrower in and to insuraiace po�icies in force shall pass to the purchaser.
<br />5. Oceupancy, 1'reservation, Maintenanee a�d Pcotecf�o�a o� t3�e l'raperty; Borro�ver's Loan Applicat'ron;
<br />Leaseholds. Borrower shal� occupy, establish, an$ use the Property as Bormwer's principal residence within s�ixty days a;E'ter the
<br />�ecution of this Security Jnsh�ent {ar within sixty days of a Iatez sale or fransfer of the Property) and shall continue to occupy
<br />the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender determines that
<br />reqUirement will cause tmdue hardship for Borrower, or unless e�ctenuat»ng cixcuznstances exist which are beyond Borrower's
<br />conl�ol. Bonower shall notify L.ender af any e�enuatiz�g cixcumstances. Boxrower shaZl not commit waste or destroy, damaga or
<br />snbstantiatly change the Property ar allow the Properiy to deteriora.te, reasonable wear and tear excepted Lender may inspect the
<br />Proper[y if t�e Property is vacant ar abandonad or the loan is im clefault Lender may take reasonzble action to protect and presez^ve
<br />svch vacant or abandoned Property. Borrower s�all also be in default zf Borrqwer, during the loan application process, gave
<br />matenia.11y faJse or inaccurate information or statements to Lender (ar failed to prov�ide Lender with any material information) in
<br />connection witl� the loan evidenced by the Note, inciuding, but not limited to, x�presentatians concerning Borrower's occupancy
<br />af the Property as a prsncipal residence. If thss Security Ins�ra�ment is on a leasehold, Bonower shall comply with tEie provisions
<br />p£the lease. I£Bozrower acquires fce tide to the Property, the leasehold and fee title shall not be merged uuless Lencier agrees to
<br />t�e merger in wri.ting.
<br />b. Condemn�ataon. '�'h� gz'oceeds of any award or claim for ciamages, direct or cansequential, in connection with any
<br />condeznnafian or other t.aking of atty part of the ProperCy, or for conveyance in place of condemnation, are hereby assigned
<br />and shall. be�aad to Lender ta tJ�e e7ctent af the full amount of the indebEedness that reraains unpaid under the Note and this
<br />Security Fnstrument. Lender shail apply such proceeds to tb:e reduction of the indebtedness under the Note and tlzis Security
<br />Instrument, first to any delinquent amounts applied in tt�e ordez provided in patagraph 3, au8 then to prepayment of priucipaL
<br />Any appLicatian of the praceeds to the principal shaIl not e�end or postpone ti�e due date of the monthly payments, which are
<br />zefened to in paxagraph 2, or c�ge tl�e amaunt of such paymenis, Any excess pzaceeds over an amount required to pay all
<br />oufistanding u�dehtedness under the Nofie and tbas Security Insfrument shall be paid to the enti.ty lagally antitied thereto.
<br />7. Charges to Borrower aad Protectian of Lender's Rights in �►e Properiy. Bortawer skiall pay all governmental
<br />or municipal charges, fines and impasitions that are nat included iva paragraph 2. Borrower shall pay these obligations on time
<br />NEBRASItA FHA BE�D OF TRTJSf
<br />aeaw�stctaene�xs
<br />REM 26981.3 {101508)
<br />BAYNE,COOOOA34353
<br />fi/96
<br />arearD�xm
<br />3�8)
<br />000 7353
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