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<br />In the eve�nt of foreclosiue of this Security Instnm�ent or oth� hansfer of tiNe to the Property that extinguiahes the
<br />indebtedness, all right, tiUe �d 'mterest of Boaawea m aod to insutance policies in force shall pass to the purchaser.
<br />5. Occapancy, Preserve8on, Maintenance and Protection of the Property; Borrower's Loan Appllcadon;
<br />Leaseholds. Bonower shall occupy, establish, and use the Property as Bonower's principal residence wiUrin aixty
<br />days after the execution of this Sec�uity Insh�ent (or wif.hin sixty days of a later sale or transfer of the Property)
<br />and shall continue to occupy the Ptopetty as Bortower's principal residence for at least one year after the date of
<br />occupaacy, uoless Lender determines that requirement will cause undue hardship for Boaower, or unless extenuating
<br />circumstaaces exist wirich ate beyond Bonower' s controL Borrower shall notify Lender of any eactenuating
<br />circumstances. Borrower shall not commit waste or deslroy, damage or substantially change the Prapetty or allow
<br />the Ptoperty to deteriotate, reasonable wear and tear excepted. Lender may inspect the Propetty if the Propetty is
<br />vacant or abandoned or the loan is in default, Lender may take reasonable action to protect and preserve such vacant
<br />or abandoned Property. Borrower shall alao be in default if Borrower, during the loan application process, gave
<br />materially falae or inaccurate information or statemeats to Lender (or failed to provide Lender with any material
<br />infarmation) in connection with the loan evidenced by the Note, including, but not limited to, representations
<br />conceroing Borrower's occupancy of the Properry as a principal residence. If this Security Instrument is on a
<br />leasehold, Borrower shall comply with the provisions of the lease. If Borrower acquires fee title to the Progetry, the
<br />leasehold and fee title shall not be merged tmless Lender agees to the merger in writing.
<br />6. CondemnaHoa. The proceeds of any awazd or claim fot damages, direct or consequential, in coanection
<br />with any condemnafion or other taldng of any part of the Property, or for conveyance in place of condemnarion, are
<br />hereby assig�ed and shall be paid to Lender to the extent of the full amount of the indebtedness that remains unpaid
<br />under the Note and this Security Instrument Lender shall apply such proceeds to the reduction of the indebtedn�s
<br />under the Note and this Security Instnmment, first to any delinquent amoimts �plied in the order provided in
<br />pazagraph 3, and then to prepayment of principal. Atry application of the proceeds to the principal shall not extend
<br />or postpone the due date of the monUily payment�, wirich are referred w in paragraph 2, or change the amount of such
<br />paymeats. Any excess proceeds over an amount reyuired to pay all outstanding indebtedness under the Note and this
<br />Security Inatrument shall be paid to the entity legally entitled thereto.
<br />7. Charges to Borrower and Protecdon of Lender's Rights in the Property. Borrower shall pay all
<br />governmental or municipal charges, fines and impositians that are not included in paragraph 2. Borrowet sball pay
<br />these obligations on time directly to the entity wirich is owed the payment. If failure to pay would adversely affect
<br />Lender's interest in the Ptoperty, upon Lender's request Borrower shall promptly ftnvish to Lender receipts
<br />evidencing these payments.
<br />If Borrower fails to make these payments or the payments required bY P�aSTaPh 2, or fails w perform any other
<br />covenants and agreement� contained in tUis Security Instrument, or there is a legal proceeding that may significxinfty
<br />affect Lender's rights in the Property (such as a proceeding in bankruptcy, for condemnation or to enforce laws or
<br />regulations), then Lender may do and pay whatever is n� to protect the value of the Property and Lender's
<br />rights in the Property, including payment of taxes, hazard insurance and other items mentioned in paragraph 2.
<br />Any amounts disbursed by Lender under this paragraph shall become an addirional debt of Bonower and be
<br />sec�ned by this Security Iastrument. These amoimts shall bear interest from the date of disbursement at the Note rate,
<br />and at the option of Lender shall be immediately due and payable.
<br />Borrower shall promptly discharge any lien wlrich has priority over this Security Instrument unless Bonower:
<br />(a) agrees in writing to the payment of the obligation secuced by the lien in a manner acceptable to Lender; (b) contests
<br />in good faith the lien by, or defends against enforcement of the lien in, legal proceediags which in the Lender's
<br />opinion operate to prevent the enforcemert of the lien; ar (c) se�ues from the holder of the lien an agreement
<br />satisfactory to Lender subordinating the lien to this Security Instrument ff Lender determines that any part of the
<br />Property is subject to a lien wlrich may attain priority over this Sec�uity Instrument, Lender may give Borrower a
<br />notice identifying the lien Bonower shall satisfy the lien or take one or more of the acrions set forth above within
<br />10 days of the giving of notice.
<br />S. Fees. Lender may collect fees and charges suthorized by the Secretary.
<br />9. Gronnds for AcceleraHon of Debt
<br />(a) Defaalt Lender may, except as limited by tegulations issued by the Secretary in the case of payment
<br />defaults, require immediate payment in full of all sums sec�ued by this Security Inslr�ent if
<br />(i) Borrower defaults by failing to pay in full any montlily payment required by tlris Security
<br />Insh�ument prior to or on the due date of the next monUily payment, or
<br />(ri) Borrower defaults by failing, far a period of thirty days, to perform any other obligations
<br />contained in this Sec�sity Inskvment
<br />(b) Sale Witho� Credit Approval. Lender shall, if permitted by applicable law (including section 341(c�
<br />of the Gam-St Getmain Depository Instidrtions Act of 1982; 12 U.S.C. 1701j-3(d)) and with the prior
<br />approval of the Secremcy, re�rira immediate �yme�t in full of all si�s se�ue3 by this Sacurity Instnmment if:
<br />(i) All or part of the Property, or a beneficial inter�t in a trust owning all or part of the Property, is
<br />sold or otherwise transferred (other thaa by devise or descent), and
<br />(ii) The Property is not ocxupied by the purchaser or grantee as his or her principal residence, or the
<br />purchaser or grantee dces so occupy the Property, butivs or her credit has not been approved in
<br />accordance with the requirements of the Secretary.
<br />(c) No Waiver. If circumstances occur that would permit Lender to require immediate paymeat in fiill,
<br />but I.ender does �t require such paymenta, I.�d� do�s �t waive its rights with respect to subsequ�t events.
<br />(� RegalaHons of HUD S�retary. In many circumatances regulations issued by the Sectetarywill limit
<br />Lender' s rights, in the case of payment defaults, to require immediate payment in full and foreclose if not
<br />FHA NEBRASKA D� OF TRUST - MERS �eg►� �
<br />NmOTZ.FHA 05/23/71 Pege 3 ot 7 www,d�nagk.cnm
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