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<br /> ' circumstances.Borrower ahall not cornmit ws+ste or desuoy.damage or substantiapy chaage the Property ar allow the �.:
<br /> * prapsrty co deteflorate,teasonable wear and tear excepted. Lender may inspect tht Property iP the Properry!s vucant A
<br /> ; ; � or abandoned or the lflan is in defaul� Lender may take reasonable action to protect and preserve save mee lallr `__'
<br /> E abandoned P'roperty. Borrower shall alsa be In default if Bonower,durL►g the loun appllcatioa process,g Y
<br />_ , . � false or Inaccurate Informatton or statements to 1.eader(or failed to provido Lender wltla any matertal inf�rmadon) �,
<br /> in conuecUon with the loan evidenced by the Note,including,but not limited to.representntions concerning Bonower's
<br /> nccupz�ncy of the P�operry as a priaclpal resideace.I f t h l s S e c u r i ty I a s t r u m e n t I s o n a l c a s e h o l d,B o n o w e r s h a l l wm pl y c .
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<br /> � � with the provisions of the lease. If Borrower aoquires fee title ta the Pr4perty,chc leasel�old and fcc title shull nat
<br /> .. :�� be merged unless Lender agrees to the merger in writing.
<br /> ,���� � �ndemnadop. The proceeds of any awacd or clatm for damages,direct or consequential,in cannection with
<br /> ` any oondemnation or other taking of eny part of the Property,or foc oonveyance in plaa of condemnation,are hereby
<br /> ' �' _� assigued and shatl be pald to Lendcr to We excent of the full amount oP the indebtedness that remains unpaid under
<br /> • � the Note and this Security InstrumenG I.ender shall apply such proceeds to We reduction of the indebtedaess uader
<br /> �; t�e Note and ttds Securlty Insuument, flrst to any deliaquent amounts applleci in che order provlded in paragraph 3,
<br />- � and then to prepayment of princIpal. Any application of the proceecls to the princlpal shall not extend or postpono
<br /> � . ,;�� the due date of the monthly payments,which are refened to In patagraph 2�or change the amount of such payments.
<br /> _ ,..,}f . qay eXCess groceeds over an amount required to pay all outstandiag indebtedness undcr the Note and thLv Security
<br /> -��':�,; c; Instrument shall be paid to the entlry legally endfled thereto.
<br />'-:'$°,• � � Cba�a to Boao+Met a n d P m t�e c x l o n o t I�e a d e t"a R i�6 t s i n t L°P r n P e rt Y Bonrower shaU p a y all governmentel
<br />_,. : - o r m u n i c i p a t char ges,Bnes aad im p o sition�that are not included in paragraPh Z. Bonower shall pa� .�ese obllgatlons
<br />� � on time cl�rectly to the entity whish is owed the paymen� If failure to pay wo u l d a dvetse ly a f f e c t L e n d e r's i n t e r�t��
<br />- � " � the Property,upoa Lender's request Borrower shaU promptly futnish to Lender receipts evldencing these payn►
<br /> � If Bonower fails to make these paywents or the paymenta required by paragraPh 2,or faiLs to perforai any other
<br />����': `��*� ' caveaants and ageements contained in this Security Instaument,or thera is a legal prooeeding that may signincantly
<br />-, � ��� a�ect Lender's rIghts in the Property (sach as a proceeding in 1�aWuuPuY+for oondemnadon or to enforce laws or
<br />�:..�`'�' � regWadons),thea Leader may do and pay whatever is necessary to prouct the value of the Property and J..ender's dghts
<br /> -'���-'- � in t�e Pioperty�including payment of taxes,hazard Insurance and other items mentioned in paragreph 2.
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<br />'r'°� ���� Atry aatounts disbursed by I.ender under this patagraph s1iaU become an addittoaal debt oY Borrower and be
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<br />�;�:�;,.�,::,,� �x�by���ty��en�Th�e amounts shall bear inurest from the diste ot disbursement at the Note ra.te,
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<br />�;;,�;��-�,. and at the opdon af Leader shall be immediately due aad payable.
<br />�-���._•� gQn�wPr cnatl promptty cttscharge aay lien�which has priority over this Securiry L�strument uniess Borrower. (a)
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<br />_.;�y�..,t " agrees in wtiting to the payment of the obHgation secural by the llen in a manner acapiabie iv I.xu�ai;� m��t� °
<br /> �:J�� ` which in the I.cnder's o inion
<br /> - __;....t.,.,:,.�' in good faith the IIen by,or defends agatust enforament of the lien in,legal proaedla�C P
<br />�'"'��4_. � '� o rate to revent the enforcement of the llen;or(c)secures from the holder ot tha lien an agreement satlsfactory
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<br /> ----- to Lender subordinutiag the lien ta this Security Instruman� If Lender deurmines tUat any part of the Property!s
<br />=������ subf ect to a lien which may attai�e prioriry rn+er thts Securiry Instrum�nt,Lender may give Horc�ower a uocioe ideatifying
<br /> ----:-��;� the lien. Bonower shatl satisfy the llen or take one or more of the acdons set forth above withdn 10 days of the givIng
<br /> ---.__.-_:�:.- of notioe.
<br />_�__•:�s'.,�� g, Foes. Lender way oollect fees and charges authorized by tDn Secretary.
<br /> —_=�� 9. atoams 1'or�ooe�aatinn of Debt.
<br /> - " -_-- (aj Debdt Lender may,axcept as iimited by regulatioas issual by the Socretuy ia the case of payanent
<br /> defaults,require immediate payment in full of all sums secured by thia Secsurl���°��ty Instrunfent
<br /> - (i) Barnower defiults by failing to pay in full any montLlY PaYa► �1 bY
<br />� prIor to or on the due data of the next monthly payment,or
<br /> �u� sorrower aer�u�rs by cawng,for a period of thiriy days.w paform any other obligations oontainal
<br /> In this Secudry Insuumen�
<br /> (�� S�1�e qRt�oat(�dIt wppmvaL Lander sLall,it permitted by applicable law(Including section 341(d)of
<br /> the�}ara.g� permain Depository Institutions A�t of 1982, 12 U.s.c.i�oi�-3(d))and wiW tLe pdor approval
<br /> � of tha Secretary,require Imanodiate payment in full of all suau secured by this Sa."urltY lnsuument if:
<br /> -- (I) All or part of the Prap�rty,or a beneScial interat in a uust owning all or part of tha Pmpetty,Ls sold
<br /> or otherwise uansfernd (other than by davtse or desoent),and
<br /> -- (ii) The Propeny Ls aot accupied by the purchaser or grantee as his ar her prIndpai residenoe,or the
<br /> purchaser or gruntee does so occupy the Properry, but his or her cxodit has not be�n approvod in
<br /> ���� axordance wIth thc requirements of the Secretary.
<br /> ;,,-"`-„s��� (c) No Wa�ivet If circumstances oocur that wauld permit Lender to require immodtau payment in fu14 but
<br /> -�:•��:�%�s� Lender does not require such payments,Lendcr does not waive its rIghts wtth nspect to subsequent avents.
<br />�:=':?�ti k:,.:� (d) Reauls�ioos of HUD Sacretary. In many clrcuwstaaces regulations issued by the Secretary wW limit
<br /> ��,`°"�:;r<`� �` Lender's dghts,in the c�se of payment defaulis,to require immediate payment in full and foraclose it not putd.
<br /> "''`:�'-�:� �-a` 'Chis Security lnsuument does not authorize acceleration or foreclosure I[uot pettnitted by regulattons af the
<br /> �Y`:f'�,;�:�. Secreta
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<br /> '��' -� (e) Moct¢aeNot In��u�ed. Borrower agrees that if this SecurIty Insuumeat and the Nvte are not determined
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<br /> � ,. to be e]iglble for�nsaranc�under the National Housing Act wlthia 60 DAYS from the
<br /> `���'r� ' date hereof,Lender may,at its option tequlre immcdiate payment in tull of all sums secwrod by this Security
<br /> !`>T�;��.;'� ''' � Instrumen� A wtItten statement of any authorized agent of the Seaetary dattd subsequent to
<br /> �4 �n navs from the date hereof,declining to insun this Secudty Instrument aad the Note�shall be
<br /> ' �u'.�r;�rr �� ., dee�ed oonclusive proof of such inellgibWty. NotwlWstanding the[ongoiag,this�ption may not ue cxercisod
<br /> . , by Lender when the unavailabllity of insurance is solety due to LenQer's failure to remit a mortgage insurance
<br /> ' , premium to the Secretary.
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