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<br /> RE-RECORDEI 98. JL(j?l.',l
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<br /> 105405
<br /> evidenced by the Not, incl!_tiaing, but not limited to, representations concerning Borrower's occupanc.1 of the
<br /> Prop-rty as a princip?:! residence. If this Security Instrument is on a leasehold, Borrower shall comply with the
<br /> pr svisicr of th,, iw.asR. If Borrower acquires fee title to the Property, the leasehold and fee title shall not r;
<br /> rncrge&.;n'.ess Lender agrees to the merger in writing.
<br /> u. Condexnnation. The proceeds .cif any award or claim, for damages, direct or conmquential, in
<br /> connection with, any condemnation or other taking of any part of the Property, or for conveyance in place of
<br /> condemnation, are hereby assigned and shall be paid to Lender to the extent of the full amount of the
<br /> indebtedness that mmains unpaid under The Note and this Security Instrument. Lender shrill apply such
<br /> proceeds to the reduction of the indebtedness under the Note and this Security Instrument, first to any
<br /> delinquent amounts applied in the order provided in paragraph 3, and then to prepayment of principal. Any
<br /> application of the proceeds to the principal shall not extend or postpone the due date of the monthly
<br /> payments, which are referred to in paragraph 2, or change the amount of such payments. Any excess proceeds
<br /> over an amount required to pay all outstanding indebtedness under the Note and this Security, Instrument shall
<br /> be paid to the entity legally entitled thereto.
<br /> 7. Charges to Borrower and Protection of Lender's Rights in the Property. Borrower shall pay all
<br /> governmental or municipal charges, fines and impositions that are not included in paragraph 2. Borrower
<br /> shall pay these obligations on time directly to the entity which is owed the payment. If failure to pay would
<br /> adversely affect Lender's interest in the Property, upon Lender's request Borrower shall promptly furnish to
<br /> Lender receipts, evidencing these payments.
<br /> If Borrower fa.i,ls to make these payments or the payments required l,y paragraph 2, or fails to perform
<br /> any ether covenants and agreements contained in this Security Instrument, or there is a legal proceeding that
<br /> may significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, for condemnation
<br /> or to enforce laws or regulations), then Fender may do and pay whatever is necessary 'to protect the value of
<br /> the Property and Lender's rights in the Property, including payment of taxes, hazard insurance and other items
<br /> mentioned in paragraph 2.
<br /> Any amounts disbursed by Lender under this paragraph shall become an additional debt of Borrower and
<br /> be secured by this Security Instrument., These amounts shall bear interest from the elate of disbursement, at
<br /> the Note rate, and at the option of Lender, sha:i be immediately duc; and payable.
<br /> Borrower stall promptly discharge any lier_ which has pi"ority over this Security Instrument unless
<br /> Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to
<br /> Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings
<br /> which in the Lender's opinion op4rate to prevent the enforcement of the lien; or (c) secures from the holder of
<br /> the lien an ;:.agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender
<br /> determines that any part of the Property is subject to a lien which may attain priority over this Security
<br /> Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one
<br /> or more of the actions set forth above within 10 days of the giving of notice.
<br /> 8. Pees. l_en&.r may collect fees and charges zwthorized by the Secretary.
<br /> 9. Gro'unus for Acceleration of Debt.
<br /> (a) Default. Lender may, except as limited by regulations isslle!I by the Secretary, in the case of
<br /> payment defaults, require immediate payment in full of all sums secured by this Security Instrument
<br /> if:
<br /> (i) Borrower dcfauits by failing to pay in full any monthly payment required by this Security
<br /> Instrument prior to or on the due date of the next monthly payment, or
<br /> (ii) Borrower defaults by failing, for a period of thirty days, to perform any other obligations
<br /> contained in this Security Instrument.
<br /> (b) Sale Without Credit Approval, Lender shall, if permitted by applicable law (including Section
<br /> 341(d) o;' the Garn- St. Germain Depositary Institutions Act of 1982, 12 U,S.C. 1701]-3(d)) and with
<br /> the prior approval of the Secretary, require immediate payment in full of all sums secured by this
<br /> Security Instrument if:
<br /> n'l{(wl~ sVbDa).a1 r.'. a er 9 Initials: _
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