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�E.R�cc���98- � n�9�
<br /> circumstanc�.Borrawer shall not commit waste or destray,damags ar substan chang�tl�e
<br /> Property to deterlorate,reasonable wear atod tcar t�, �r � � �� ��or aIlow the
<br /> or abandoned or t!►G loan is ia defanit I,ender tn�take reasonable action�to protxt an�l pt+esetv�e such varant�or
<br /> abandoned Properry. Borroaer shell aLco be in defanit if Borrcwver,dnrin�the loan application process�gave materially .
<br /> false or inaccurate infarmation or statemencs to Leader(or failed to provide I.endzr wiW any taaterial informaUon)
<br /> in connection�vith the laan evidenoed b}r the Note,inclnding,but not limited to.representations concerning H�ormwer's
<br /> occupancy of the Prop�ny as a principal residenoe.If this Security Instrument is on a leaseho]d,Borrovver shall oomply
<br /> with che provicioas ot the lease. if Borrower aoquires fee tiUe to the Propetty,the le�ehoid and fee title shaIl not
<br /> be merged unless Lender agc�es to the merger in writing. ,.
<br /> b- Cc�ademnztion. The proceeds of aay awazd or claim for damages,direct or consequeatial,'fn connectIon with �
<br /> any condemnation or other t�king of aay part of the Property,or for wnveyance in p1ac�of oondemaation,are hereby �
<br /> assigned and s6ali ae paid to L.ender to the extent of the fail amonnt of the indebtedness that remains unpaid nader `
<br /> ehe Note az►d this Secarity In.ctrument [eader shalt apply such proceeds to the rednction of t6e indebiedness nn�er }"�
<br /> the Note and this Security Iasuumena,first to aay delinquent amounts apg(ied in the order providod ia paragraph 3, • �
<br /> and then to prepayme�t of principa]. Amr application of the prooeecLS to the principal shall not extend or postpone �
<br /> the due datc of the monthty paymenis,which are refened to in paragraph 2,or change the amonnt of such payments. � �
<br /> Any ezcess proceeds ovsr an amount required to pay a11 outstanding indebtedaess under tlie Note aad thLs Secnrity y�
<br /> dnsvumeut shall be paid to the entity lega[ty entided thereto.
<br /> 7- Cbarges to Bu�ro�er aad�'xotoctioa of I.eadcr's R ts In ttre
<br /> $6 Pro�ty- Bormwer shall pay all gwemmenta!
<br /> or municipal charges,fines and imposiuons that are aot included in para�aph 2 Borrawer shali pay th�e obligations
<br /> on time directly to Lhe entity which is ovved the payment If fallnre to pay would adversely aPfecc I.ender's interest ia
<br /> the P;operty,upon Leader's request Borraw�er shall prompity furnish to L.ender rxeipts evidendng these paymenu.
<br /> 1f Bonow�r fails to make t�ese gayn;enu or the paymenes required try para,graph 2,or�aits to pedorm aity ether
<br /> cave;aants and agreemenu coattaine.l in this Secuticy inatrument,or there is a legal grocee�ing that may significantly
<br /> affect Lender's righu in the Pmpesty (such as a proceed�ng in bankruptry, for condemnation or to enforce laws or
<br /> regulations),then l.ender m�}+d��and pay whatever is necessary to protect the value of the Property and L.ender's rights
<br /> in the Property,inciuding pa�ment of taxes,hazard ias�araace and other items mentioned in paragsaph 2.
<br /> Fany amounts disbursed by I.,ender ander this paragraph shall b�Ome an additional debt of Barrower and be
<br /> secured by this Security Instrument These amaunts shali bear ic�tetest from the date of disbuisement at the Note ra.e,
<br /> and at the option of Lender shall be immediately due and payable.
<br /> Borrower shail promptty discharge any lien which has priority over this Security lnstrument unless Borrower: (a)
<br /> agrees in writing to the payment of the obligation secured by the lien in a manner acceptahle to I,ender,(b)contests
<br /> cn good fai.h the lien by,or defends against enforcemeat of the lien in,legal proceedings which in the Lender's opinioa
<br /> aperate tv prcvent the enforcement of the lien;or(c) secures from the holder of the lien an agreement satis[actory
<br /> to I.ender subordinaung the lien to this Sec�rity Instrumeni. If Lender determines that any part of the Property is
<br /> subject to a lien which may attain priority aver this Security Instrument,[..ender may give Borrower a notice identifying
<br /> the(ien. Eorrower shatl satisfy the liea or take one or more of the astions set forth above�vithin 10 days of thc giving
<br /> of notice.
<br /> 8. Fees. ix,nder mav collect fces and charges authorized by the Secretary.
<br /> 9. Gronncis fos Aeoekrar�ion of DebL
<br /> (a) DefauIL L.ender may, eucept as timited b}� regulations issued by the Secretary in the case of payment
<br /> defaslts,require immediate payment irk full of ali sums secured by this Security Instrument if:
<br /> (i) Borrower defau!�s by faiting to pay in tull any monthIy paymen:required by this Security Ir.strument
<br /> prior to or on the due cdate of the n monthly paynent,or
<br /> (ii) Borrower defaults by failing,for a period of thirty days,to pedorm any other obflgations contained
<br /> in this Security Instre�ment
<br /> �) ��1�°�t Credit Apprevat. Lender shall,if permitted by applicable law(inciuding sertion 341(d)of
<br /> the Garn-St.Germain De�ository Institvtions Act of 1932,12 U.�.C. 17Q1j-3(d))and with the prior approval
<br /> of the Secretary,require immediate payment in full of atl sums secured by this Security lnswment if:
<br /> (i) All or part of the Property,or a beneficial interest in a tn�st naming all or part of the Property,is so(d
<br /> or othenvise transferred�other thaa by devise or descent),and
<br /> (ii) The Property is not occupied by the purchaser or grantee as his or her principal residence, c�r the
<br /> purchaser or grantee does so occupy the Property, but his or her credit has not becn approved in
<br /> accorclance with the requirements of the Secretary.
<br /> (c) N�o Waiver. If circumstances occur thac would permit I.eader to require immediate paym,:nt in full,but
<br /> L.ender do� not require such payments,Lender does nOt�vaive its rigii�s with respect to sutxeyuent events.
<br /> �d) �E�� of HLTD Sxretary. In many circumstances regulati��ns issued by the Secretarv will limit
<br /> L.ender's rightt;,in the case of paymeat defaults,to require immediate payment in fuil and foreclose if not paid.
<br /> This Security Instrument dc�es not authorize acccletation or forec!�sure if not permitted by regulations of the
<br /> Sccretary.
<br /> ��� 1�°rtgab►c N°�Insared- Borrow�er agrees that if this Securiq�Instrument and the iYote are not determined
<br /> ta be eligibie for insuranzc undcr the National Housing Act within 60 LAYS
<br /> ciate hereof,L,cnder may,at i�s option require immediate payment in full of ali sums secured by thisfSecurrty
<br /> !nstrument. A wriecen statement of any authorized agent of the Secretary dared subsequcnt to
<br /> 60 DAYS from the date herenf,decllning to insure this Security Instrument and thc Note,shall be
<br /> deemcd c:wnclusive proof of such ineligibiliey. Notwithstanding the foregolnG,this option may not bc e�ercised
<br /> by Lender when the unavailabi2Ity of incurance is solely due to Lender's failure to remit a mc,rtgage insurance
<br /> premium to the Secretary.
<br /> I
<br /> r�fsx�src,.-f�in r�u�or-�xusr
<br /> dx��u s�,<�,.,�„�.teum�ix: Page 3 of 6 �
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