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<br /> � � 97- ii�9�7 ��T-
<br /> abandoned Property. Borrower shall also be in default if Borrower, during the loan applicatton process, gave
<br /> • matedally false or inaccurate information or statements to i.ender(or failed [o provide Lender with any material --
<br /> � informatIon) in connection with the loan evidenced by the Note, including, but not limited to, representations _
<br /> conceming Borrowcr's cecupancy of the Propeny as a principal re�idence. Ii this Security Instrument is on a
<br /> , j leasehald, Borrower shall wmply wi[h the provislons of the leasc. If Borrowcr acquires fee title to the Propeny, the -
<br /> leasehold and fce title shall not be merged unless Lender agrees to the merger in wrlting.
<br /> � 6.Condemnation.The pra;eeds of aay award or claim for damages,direct or consequential,in connection with -
<br /> - any condemnation or other taking of any part of the Property, or for conveyance in place of condemnation, are
<br /> � horeby assigned and shall be paid to Lender to the extent of the full amount of the Indebtedness that remains unpaid [�'_`
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<br /> under the Note�nd thls Security Instrument. Lender shall apply such procceds to the reduction of the indebtedness �- _ -
<br /> under the Note and this Security Instrument, first to any dclinquent amounts applied in the order provided in —
<br /> ' �' paragraph 3,and thea to prepayment of principal.Any application of the praceeds to the principal shall nat exrend or �' -
<br /> , postpone the due date of the monthly payments, which are refened to in paragraph 2,or change the amount of such --
<br /> �� payments. Any excess proceeds over an amount reqaired co pay al!outstanding Indebtedness under the Note and this ?
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<br /> Security Instrument shall be paid to the entiry legally endtted thereto.
<br /> . � 7. Charges to Borrower and Protection of I.cader's Rlghts in tbe Property. Borrower shall pay all � - -�
<br /> govemmental or municipal chazges, fines and impositions that aze not included in paragraph 2. Bonower shall pay ��
<br /> � � these obligations on time directly to the entlty which is owed the payment. If failure to pay would adversely affect � `ru��
<br /> �M Lender's interest in the Property, upon I.ender's request Borrower shall promptly fumish to Lender reccipts -_
<br /> evidencing Wese payments. ,
<br /> __ Tf Rorrower failc to make the.ee paymentc or the paymems required by paragraph 2; or fail�to perform any other
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<br /> • � cavenants and agreements contained tn this Security[nstrument, or there is a legal proceeding that may signiftcantly E��- —
<br /> affect Lender's rights in the Property(such as a proceeding in bankniptcy, for condemnation or to enforce laws or ---
<br /> !r regulatlons), then Lender may do and pay whatever is necessary to protect the value of the Property and Lender's
<br /> rtghts in the Properry,including payment of taxes,hazard insurance and other iten�s mentinned in paragraph 2. �.��
<br /> My aznuunts dtsbursed by Lender under this paragraph shall become an additional debt of Boaower and be �,
<br /> � secured by this Security Instrument. These amounts shall bear interest from the date of disbursement, at the Note `�
<br /> rate,and at the optioa of Lender,shall be immediately due and payable. �
<br /> Bonower shall promptly dischazge any lien which has prioriry over this Securiry Instrument unless Bonower: �.
<br /> (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) [�
<br /> contests in gaod faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the k��
<br /> L�nder's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an �
<br /> � agreement satisfactory to Lender subordinadng the lien to this Securiry Instrument.If Lender determines that any part ``
<br /> �f the Property is subject to a lien which may attain priority over this Securiry Instrumeat, Lender may give
<br /> Borcower a notice:3entifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth -_
<br /> above within l0 days of the giving of notice. __
<br /> 8.Fees.Lender may collect fees and charges authoriud by the Secretary. ---
<br /> 9.Grounds for Acceleration of Debt. -
<br /> � (a) Default. Lender may, except as limited by regulations issued by the 5ecretary. in the case of payment -
<br /> „ . defaulu,require immediate payment in full of all sums secured by this Securiry Instrument if:
<br /> (i)Bonower defaults by failing to pay in full any monthly payment required by this Security Instrument •� �
<br />� prior to or on the due date of the next monthly payment,or --__
<br /> (ii)Borrower defaults by failing, for a period of thirry days,to perform any other obligations contained
<br /> _ in this Securiry Instrument. �_-
<br /> • � (b) Sale W[thout Credit Approval. L,ender shall, if permitted by applicable law(including Section 341(d) ��*��"_:
<br />, of the Gam-St. Germaiu Depository Institutions Act of 1982, 12 U.S.C. 1701j-3(d)) aud wlth the prior =�+:yy
<br />- � approval of the Secretary, requirc immediatc paymcnt in full of all sums secnred by this Security Instrument �•
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