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201108612
<br /> LOAN #: 225110900001623
<br /> if Lender still held the Security Instrument,each monthly payment shall also include either:(i)a sum for
<br /> the annual mortgage insurance premium to be paid by Lender to the Secretary,or(ii)a monthly charge
<br /> instead of a mortgage insurance premium if this Security Instrument is held by the Secretary, in a
<br /> reasonable amountto be determined bythe Secretary.Except forthe monthly charge bythe Secretary,
<br /> these items are called"Escrow Items"and the sums paid to Lender are called"Escrow Funds."
<br /> Lender may,at any time,collect and hold amounts for Escrow Items in an aggregate amount not to
<br /> exceed the ma�mum amount that may be required for Borrower's escrow account under the Real Estate
<br /> Settierr�ent Procedures Act of 1974,12 U.S.C.Section 2601 et seq.and implementing regulations,24 CFR
<br /> Part 3500,as they may be amended from time to time ("RESPA"J, except that the cushion or reserve
<br /> permitted by RESPA for unanticipated disbursements or disbursements before the Borrower's payments
<br /> are available in the account may not be based on amounts due for the mortgage insurance premium.
<br /> Ifthe amounts held by Lenderfor Escrow Items exceed the amounts permitted to be held by RESPA,
<br /> Lender shall account to Borrower for the excess funds as required by RESPA.If the amounts of funds
<br /> held by Lender at any time is not sufficient to pay the Escrow Items when due,Lender may notify the
<br /> Borrower and require Borrower to make up the shortage as permitted by RESPA.
<br /> The Escrow Funds are pledged as additional securiiyfor all sums secured by this Security Instrument.
<br /> If Borrower tendersto Lenderthe full paymentofall such sums,Borrower's account shall be credited with the
<br /> balanceremainingforall installmentitems(a),(b),and(c)and any mor[gage insurance premium instaliment
<br /> thatLender has not become obligated to pay to the Secretary,and Lender shall promptly refund any excess
<br /> funds to Borrower. Immediately prior to a foreclosure sale of the Property or iis acquisition by Lender,
<br /> Borrower's accountshall be credited with any balance remaining for all installments for items(a),(b),and(c).
<br /> 3. Application of Payments.All payments under paragraphs 1 and 2 shall be applied by Lender
<br /> as follows:
<br /> First,to the mortgage insurance premium to be paid by Lender to the Secretary or to the monthly
<br /> charge by the Secretary instead of the monthly mortgage insurance premium;
<br /> Second,to any taxes,special assessments,leasehold payments or ground rents,and fire,flood and
<br /> other hazard insurance premiums,as required;
<br /> Thi Jrd to interest due under the Note;
<br /> Fourth,to amortization of the principal of the Note;and
<br /> Fifth,to late charges due under the Note.
<br /> 4. Fire,Flood and Other Hazard Insurance.Borrowershall insure all improvements on the Property,
<br /> whether now in existence or subsequently erected,against any hazards,casualties,and conGngencies,
<br /> including fire,for which Lender requires insurance.This insurance shall be maintained in the amounts and
<br /> forthe periods that Lender requires.Borrowershall also insure all improvements on the Property,whether now
<br /> in existence or subsequently erected,against loss by floods to the e�ent required by the Secretary.All
<br /> insuranceshall becarriedwith companies approved by Lender.The insurance policies and any renewals shall
<br /> be held by Lender and shall include loss payable clauses in favor of,and in a form acceptable to,Lender.
<br /> In the event of loss,Borrower shall give Lender immediate notice by mail.Lender may make proof of
<br /> loss if not made promptly by Borrower. Each insurance company concerned is hereby authorized and
<br /> directed to make payment for such loss directly to Lender,instead of to Borrower and to Lender jointly.All
<br /> or any part of the insurance proceeds may be applied by Lender,at its option,either(a)to the reduction
<br /> of the indebtedness under the Note and this Security Instrument,first to any delinquent amounts applied
<br /> in the order in paragraph 3,and then to prepayment of principal,or(b)to the restoration or repair of the
<br /> damaged Property.Any application of the proceeds to the principal shall not extend or postpone the due
<br /> dateofthemonthly paymentswhich are referred to in paragraph 2,orchangethe amountofsuch payments.
<br /> Any excess insurance proceeds over an amount required to pay all outstanding indebtedness under the
<br /> Note and this Security Instrument shall be paid to the entity legally entitled thereto.
<br /> In the event of foreclosure of this Security Instrument or other transfer of title to the Property that
<br /> extinguishesthe indebtedness,all right,title and interestof Borrower in and to insurance policies inforce
<br /> shall pass to the purchaser.
<br /> 5. Occupancy,Preservation,Maintenance and Protection of the Property;Bocrower's Loan
<br /> Application; Leaseholds. Borrower shall occupy, establish, and use the Property as Borrower's
<br /> principal residence within sixty days after the execution of this Security Instrument(or within sixty days
<br /> of a later sale or transfer of the Property) and shall continue to occupy the Property as Borrower's
<br /> princip il residence for at least one year after the date of occupancy, unless Lender determines that
<br /> requirement will cause undue hardship for Borrower,or unless extenuating circumstances exist which
<br /> are beyond Borrower's control. Borrower shall notify Lender of any extenuating circumstances.
<br /> Borrower shall not commitwaste or destroy,damage or substantially change the Property or allow the
<br /> Property to deteriorate, reasonable wear and tear excepted. Lender may inspect the Property if the
<br /> Property is vacant or abandoned or the loan is in default.Lender may take reasonable action to protect
<br /> and preserve such vacant or abandoned Property.Borrower shall also be in default if Borrower,during
<br /> the loan application process,gave materially false or inaccurate information or statements to Lender(or
<br /> failed to provide Lender with any material information) in connection with the loan evidenced by the
<br /> Note,including,but not limited to,representations concerning Borrower's occupancy of the Property
<br /> as a principal residence. If this Security Instrument is on a leasehold,Borrower shall comply with the
<br /> FHANebraskaDeedafTrust-4196 Initials: ;�i�,. �,�y�
<br /> Online DocumeMS,Ina Pag2 3 Of 7 NEEFHADE 1108
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