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<br /> circumstances.Barrower shall not commit waste ar destroy,damage or substantIally change the Pro�erty or allow the • ,�.:--:
<br /> Pruperty ta deterioratc,rcusunablc wcar und tcar cxcepted. L.cndcr may inspect the Praperty if thc Property is vacant � �
<br /> ur ubandoned or the laun is in default. Lender may take reasonable action to protect and preserve such vacant or � :
<br /> ubanduneci Prupc;rty. Barrawer shall also be In detault lf Bunower,during the laan application process,gave materially .- :
<br /> false or inuccurate informatian Ur statements to Lender(or fail�d to provide Lender with any material information) �:5.
<br /> in conncctian w1Yh thc laan cvidenced by the Note,including,but not limlted to,representatlons concerning Borrower's tF,_,_
<br /> :.;,:_�
<br /> accupancy of thc Properry as a princlpul residcnce.IP thls 3ecudty lnstrument is on a leasehold,Bnrrower shall comply . .__
<br /> .,• i� with the provlslans of thc lcuse. if�rruwer acqulres fec;iillc to tl�e Properry,the lcasehold and fee title shall not y��`:�
<br /> be mergcd unlcss L.ender agrc�s to thc mergcr In writing. • :.,����.._
<br /> ..��'r'' � 6. CundemnaUon. The proceeds of any award or daim for damages,direct or consequential,In connection wlth ,w_
<br /> .. _�� : � . ,l.-v_:
<br /> , aay condemnatlon or other taking af any part uf the Property,or for conveyaace In plac.e af condemnatian,are hei�eby ;n___
<br /> � assignccl and shall be paid to Lcnder to thc c�ent of the full axnount of the indebtedness chat remains unpaid under � ':,.°_;-_
<br /> � the Nate and this Securlty Instrumen� I.ender sha11 apply such procceds to the re�luction of the indebtedness under � •;:>.s:��
<br /> � the Notc and this Security Instrument,first to any delinqucat amounts applied in the order provlded in paragraph 3, �_.�_-_,
<br /> . � and then to prepayment of principal. Any applIcation of the proceeds xo the princlpal shuU not extend or postpone •;ti��'=
<br /> the due date of the monthly payments,which are referr�l to in paragraph 2,or change the amaunt of such payments. ..:;��
<br /> ; Any excess praceeds over an amaunt required ta pay all outstanding indebtedness under tlie Note and this Security �.`,�,::""
<br /> � Instrument shall be paid to the entity legaAy entitled thereto. _
<br /> �, (�arges to Barrawcr and Protecdon c�f Lcndcr's Rights in the Properiy. Bonower shall pay all govemmental
<br /> �, ��� ar municipal chatges,flnes and imposltions thet are not included in paragraph 2. Borrower shaU pay these obligations _
<br /> on time directly to the entity whicb is owed the payment. !f failure to pay would adversely affect Lcndcr's interest in _
<br /> ' � the Property,upon Lender's request Banower shall prampUy fumLsh co Lender receipts evidencing these payments. -
<br /> If Borrower faiLs to makc these payments or the payments required by paragraph 2,or falls to perform any other
<br /> � ;� covenaats and agreements contained In this Security Instrument,or there is a legal proceeding that may sibmi8cantly
<br /> affect Lender's rights ln the Property (such us a praceeding in bankruptcy, for condemnation or to enforce laws or
<br /> � regulations),then Lencler may do and pay wh�tever is necessary ta protect the value of the Property and Lender's rights
<br /> ,.:-
<br /> in the Property,Including payment of taxes,hazard insurance and other items mentioned in pAragraph 2. _ _
<br /> �' Any amaunts disbursed by L,endcr under this paragraph shall become an addittonal debt of Bonower and be �
<br /> secured by this Security Iastrument. These amounts shall bear interest from the date of disbursement at the Note rate, i.�
<br /> �� and at the option of Lendcr shall be immediately due and payable.
<br /> Borrower shall promptly dlscharge any llen which has pdoriry over this Securiry Instrument unless Borrower:(a)
<br /> - �� �'� ugrees tn writing to the payment oi ti�e obtigaiion sr�;urr�i vy t:�e lian in a maancr acccgtable ta Lend�t;{�)�ont?s4�
<br /> �" in good faith the llen by,or defends against enforcemeut of the lien in,legal proceedings wtr.ich in the L,ender's opiniun
<br /> � .. � operate to prevent the cnforcement of the llen;or(c)secures from the holder of the lien an agreement satisfactory
<br /> � to Lender sub�rdinating the lien to this Security InstrumenG If Lender determines that any pact of the Property ls
<br /> subject to a lten which may attaIn priority over this Security Instrument,L.eader may give Banower a noticr,idencifying
<br /> the lien. Borrower shail satisfy the lien or take one or more of the acdons set forth above wtthin 10 da�5 of the giviag
<br /> " of notice.
<br />: 8. Feea. Lender may wllect fees and charges authorixed by tUc Secretary.
<br /> • 9. C�muadg[or Aooeleration of Debt
<br /> 3 (a) Default Lender may, exccpt as limitcd by regulations issucd by the Secrctary in the case of payment
<br /> defaults,require immediatc payment in full of all sums sccurcd by this Sccurity Instrumcnt if:
<br /> ' • �• (i) Borruwer defaults by fulling to pay in full any monthly payment requirul by this Security lnstrument
<br /> � prior to or on the duc date of the next monthly payment,or _'
<br /> (ti) Borrower defaults by fatling,for a�SCriod of thlrry days,to perform any other obligations contained
<br /> • � in this Securiry Instrumeat. -
<br /> (b) Ssk Without Gedit AppravaL. Lender shall,if permitted by applicable law(including section 341(d)of
<br />_ � th�Ciarn-St.Germain Depository Iastitutions Act of 1982, 12 U.S.C.1701j-3(d))and with the prior appror•si --
<br /> of the Secretary,rt:quire immediate payment in full of aU sums secured by this Securlty Insuument if: �
<br /> : � (i) All or part of the Property,or a beneficial interat in a trust owning all or part of the Property,Is sold
<br />_ � or otherwise transferrcd (other than by devise or descent).and _
<br />_ (ti) The Property is not occuplec! by the purchaser or grantee as his or her principal residence,or t�e �
<br /> purchaser ar grantee daes so occupy the Property, but his or her credit has not been approved in _
<br /> � accordance with the requtrements of the Secretary. ' ___
<br />_ (c) No Waiver. If circumstances occur that wuuld permit Lender to requlre immediate payment in full,but ___
<br /> Lender docs not require such payments,L.ender does not waive its rights with respect to subsequent events. � ;1��;��-
<br /> (d) RegulaUons of HUD Sccrctary. In many citcurnstan.:es rcgulations issue;d by the Secrctary wlll limit =_
<br /> . Lender's rlght5,in the case of payment dcfaults,to require immediate paymcnt in full and fore�:lose If not paid.
<br /> This Security Instrument docs not authorize aa:elcration or fureclosurc if not permitted by regulations of the
<br /> - Secretary.
<br /> (c) Mortgage Not Insured. Borrowcr agrees that If this Sec:uricy Instrumcnt and the Note arc not determined
<br /> _ to bc eligible for insurana:under the Natiaial Housing Act w{thin 6� DAYS from the
<br /> date:hcreof,Lender may,at Its optton require Immuliate payment In fult of all sums securecl by this Securiry
<br /> Instrument. A writtcn statement of any authorized agcnt of the Secretary dated subscqucnt to
<br /> 60 DAYS from thc date hereof,dcclining ro insurc this Security Instrument and thc Note,shall be „
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<br /> by L.cnder whcn thc unavailability of insurancc is solslyduc to L.cnder's failurc tn rcmit a mortgagc insurance
<br /> - I premium tu thc Sccrct�ry.
<br /> NE�w�sxn-��in nt�tsn o��ntusr �
<br /> i��m�•m s�,�em�,io.•.iap�oiv-ix: PagC 3 uf 6
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