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<br /> clrcumstenccs.Borrowcr shall nat cammit waste ar destroy,damagc ar substantiully chunge`�the Proper1ty��or�a1��hc • � " '��'�"i�`' _
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<br /> Praperty to dctcriarate,reasonable wcar and tear excepted. L.ender may inspect thc Propercy!f the Properry Is vacant ��"'
<br /> c�r abandoned or the laan !s in dcfault. Lander muy take reasonable uction to protcct und prescrve such vacant ar , . .--
<br /> abandoned Property. Borrower shuil also bc in dcfault if Borrower,during the loun application process,gave materlally �
<br /> fulsc ar Inaccuratc informatian or statements eu L.ender(or falled t�provide L.cndcr with any muteriel information) �`��'�'
<br /> ln a�nnection wieh the laan evidenced by the Notc,including,but not limited to�representatians concerning Borrower's •� �,�•
<br /> occupanry aPthe Properry as a prl�cipal resldence. IPcbis Security Instrumene is on a leasehold.�orrowar shall comply .��r�;,,�,,,_r^�_
<br /> with the provisions of the lease. If�orrower acquires fec title to the Property,thc leasehold an�i fee title shall not •
<br /> L+c mcrgcd unless Lender agrces to the merger!n wdting. �,y; a��:�.�; .
<br /> „�,,,.�+-� 6. Gondeamatioa The proceeds af any award or clalm far damages. dircct or consequenttal,in connection with �. r`�tir.�;-�-"����:_
<br /> ..� �� any candemnatlan or other taking of any part uf the Property,or for conveyance in place of condemnaUon,are hereby �""`�" �'�'=�`�•°__
<br /> asslgned and shall be paid to Lender to thc extent of the full amount of tbc indebtedness that rcmains unpaid under •.ri'����"__,�'�a
<br /> tha Notc and thts Security Instrument. Lender sball apply such proceeds to the rsduction of the Indebtedness under •�>�:+�-
<br /> thc Natc and this Secui�lty lnstxument,first to any dcltnquent smounu app8ed in the order provlded la paragraph 3, ' _L�=�"�-
<br /> and then to prepayment of principal. Any application of the praceeds to the principal shall nvt excend or postpone -' - - --- -
<br /> the due datc of tbe monthly payments,whlch are referced to in paragraph 2,or change the acnount of such payments.
<br /> Any sxcess proceeds over an amount requlred to pay all outstanding indebtedness under the Note and this Security �-
<br /> � Instrumcnt shall be paid to the entiry legally entitled thereto. '�_
<br /> 7, (�ar�ed tq 8orrawer and Protectioa of Lender's Rishta in the Property. Bonower shaA pay aU governmental
<br /> or munidpal cht►rges,8nes and impasitions that are.not included in paragraph 2. Bonower shall pay these obligations ';�"�:
<br /> � � an time directly to the entiry which is owed the paymea� If failure to pay would adversely affect Lender's intorest in •.i-�-
<br /> �; , tbe Properry,upon Lend�er's request Borrower shall promptl3�furnish to Lender receipts evidenclns ihese payments. ""_=
<br /> �� If Borrower faUs to make these payments or the payments required by pamgraph 2,or fails to pedorm any other °=:�
<br /> � covenanu and a reements contained In chis Securi Instrument,or there is a le al roceedin that ma si ficantl `'--�
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<br /> �.,�; affect I,ender's rIghts in the Property(such as a procee�ing in bankruptcy,for condemnadon or to enforce laws or
<br /> regulations),then L,ender may do and pay whatever is necessary to protect tbe value of the Property and Lender's rights �•:h��:
<br /> � in the Propetry,including payment of taxes, hazard insurance and other items mentioned in paragraph 2. ,s.'•�;
<br /> ' Any amounts disbursed by Lender under this paragraph shall become an additional debt of Borrower and be ' "'�
<br /> secured by this Security Instrument. These amounts shall bear interest frarn the date of disbursement ac the Note rate. � ������
<br /> �vc-.
<br /> and at the option oP I.ender shall be immediately due and payable. —°
<br /> � Borrower shall promptly d{scharge any lien which has prlority over this Security Instrument unless Bonower: (a) "_� r=
<br /> a¢rees!n writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests E��_
<br /> in good faith the 11en by,or defends against enforcement of the lien in,legal proccedings which ia the Leader's opuuoa �
<br /> operate to prevent the enforcement of the lien;or(c) secures from the holder of the lien an agreemeat satisfactorv �-� _-_
<br /> to Lcznder subordinattng We licn to this Securlry Instrument If Lender determines that any part af the Praperty is ` _
<br /> . subject to a Iien which may attain priority over tlils Securiry Instrument,Lender may give Bonower a notice IdentifyIng �?
<br /> " the lien. Bonawer shaA satisfy the lien or take one or more of the actions set forth above within 10 days of the giving
<br /> of notice. - �
<br /> 8. Foea. Lender may collect fees and charges authorized by the Secretary. r::;
<br /> 9. Gmunds Cor Aooelaratbn of Debt r -
<br /> (a) Default Lender may,except as limited by regulations issued by the Secretary Im the ase of payment C•�
<br /> defaults,require immediate payment in fuA of all sums secured by this Security Insuuaaent ff: r�`�
<br /> (i) Borcower defaults by failing to pay in full an,y monthly payment required by this SecurIty Instrument `-"
<br /> prtor to or on We due date of tbe next monthly payment,or �
<br /> • (ii) Borrower defaults by faiting,for a period of thirty days. to perform any other obligatfons contained
<br /> _ in this Secu:!ty?:��•s:ment. �.`=`-_ _—
<br /> (b) Salo Wiithout Credit Appmval. Lender shall,if permicted by appUcable law(including section 341(d)of ���;
<br /> the Garn•St.C3ermain Depository Institutions Act of 1982,12 U.S.C.1701 j-3(d))and wlth the prior approval
<br /> of the Secretary,require immediate payment in tull of all sums secured by this Secur:ty Insuument if: �`�-
<br /> (i) All or part of the Properry,or a beneficial interest in u trust owning all or part of the Propeny,ls sold � 7
<br /> � or otherwise transferred(ottier than by devlse or descent),and ��;�__
<br /> • � (fi) The Property is not occupied by the purchaser or grantee as his or her principal residence,or the �_..�._ __ _
<br />- purchascr or grantee does so occupy che Property, but his or lier credit has not bcen approved in -
<br /> � acc4rds�nce wtth the requirements of the Secretary. ��.��'
<br /> (c) No Waiver. If circumstances occur that would permit L.ender to require immediate payment in full,but .. " �,:''
<br /> 1 Lender does not require such payments, L.ender does not waive its rights with rc�pect to subsequent events. ".�::�� •;;;�,���
<br /> � (d) Regulatious of HiJD Secretary. In many circumstances regulations issued by the Secretary w[Il limtt �.�5.-: "" �.
<br /> �., :
<br /> ' L.c:nder's rI hts,in the case of a ent defaults.to r� uire irnmediate a ment in full and foreclose lf not atd. ^�`t��' "'�
<br /> B p•r� w p y p• �:. ��:::.�:
<br /> � 1'his SecurIty Instrument does not authorize acceleration or foreclosure if not permitted by regulations of the ��„ ��"�;'`��:�?��
<br /> .� Secretary. • '.�-
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<br /> � I (c) Mortgage Not Insurcxl. Borrowcr agrees that if this Security Instrument and the Note arc not determinr.d -• •�� .
<br /> j to be eligible for insurance under the National Housing Act wlthin 6 0 DAYS from the
<br /> � datc hereof,Lender may,at its option require immediate payment tn full of all sums secured by this Security
<br /> Instrument. A written statement of any auth�rized agcnt af the Sccretary dated subsequcnt to .
<br /> � 6 0 DAYS from the date herwf, declining to insure this Securiry Instrumeut and the Note.shall be .
<br /> � deeme;ci conclusive proof of sueh ineligibility. Notwithstanding the foregui�ng,this option may not be exercised
<br /> � by Lender when the unavailability ot"tnsuranc:e is solcly duc to Lcnder's tailure to remu a mortgage insurance
<br /> , prcmium t�thc Secretary. �
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