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<br /> � RE R�coRn�u t�
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<br /> abandoned Property. Borrower shall also be in default if Bonowcr, during the loap app ication �.___
<br /> materially false or inaceurate information or statements to I.ender (or failed to provide Lender with any material �._.
<br /> infortnation) In connection with thc loan evidence.d by the Note, including, but not limited to, represcntations -_
<br /> coacerning Borrawcr's occupancy of the Properry as a principal residence, If this Securlty Instrument is on a �
<br /> � ' leasehold,Borrower shall wmply with the provisions of the lease. If Bonower acquires fee title to the Property,the —.
<br /> - -' leasehold and fee title shall not be raerged unless Lender agrees to the merger in writing. _
<br /> ' 6.Condemnation.The proceeds of any award or claim for damages,direct or wnsequential, in connection with _
<br /> � any condemnation or other taking of any part of the Property, or for conveyance in place of condemnation, aze
<br /> hereby assigned and shall be paid to I.ender to the extent of the full amount of the iadebtedness that remains unpatd
<br /> under the Note and this Security Instrnment. I.ender shall apply such proceeds to die reduction of the indebtedness _
<br /> under the Note and this �ecurity lnstrument, first ta any delinquent auzowits applicd in thc order pmvided in �
<br /> ' v.. paragraph 3,and then to prepayment of principal. My application of the proceeds to the principal shall not extend or
<br /> ' postpone che due date of the monthly payments,which are referred to in paragraph 2. or change the amc�unt of such
<br /> ,� � paymenu. Any excess proceeds over an amount required to pay all outstanding indebtedness under the Note and this
<br /> Security Instrument shall be paid to the entlty legally entitled thereto.
<br /> :� 7, Charges to Borrower and Protection of Lender's Rlghts In the Property. Bonower sh�ll pay all
<br /> governmental or municipal chazges, fines and impositions that aze not included in paragraph 2. Borrower shall pay
<br /> ., these obligations on time directly to the entity which is owed the payment. If failure to pay would adversely affect
<br /> ,� I.ender's interest in the Property, upon I.ender's request Borrower shall promptly furnish to I.ender receipts
<br />_ j evtdenciag these payments. -
<br /> r If Borrower fails to make these payments or the payments required by paragraph 2,or fails to perform any other
<br /> --- - -- covenants and agreements contained in[his Secucity Iust�uri;crd, ar ther is a l�g�l proCeec3tIIa thai may sigalf c�nrty _
<br /> �. affect Lender's rights in the Property(such as a proceeding in bankruptcy, for condemnation or to eaforct laws or
<br /> . r regulations), then Lender may do and pay whatever is nec:essary to protect the value of the Property and Leader's
<br /> x rights in the Property,including payment of taxes,hazard insurance and other items mcntioned in paragrapb 2.
<br /> � Any amou�us disbursed by Lender under this paragraph shall �ecome sn additional debt of Borrower and be
<br /> • secured by this Securiry Iastrument. These amounts shall bear interest from the date of disbursement. at the Note
<br /> rate. and at thc option of Lender,shall be immediately due and payable.
<br /> Bonower shall promptly discharge any lien which has priorlty over this Security Instrument unless Borrower:
<br /> � (a) agras in writing to the payment of the obligation secured by the Ilen in a manaer ucceptable to Ltnder; (b)
<br /> � wmtests in good faith the lien by, or defends against enforcement of the llen ia, legal proceedings which ia the
<br /> � I.ender's opinion operate to prevent the enforcement of the lien; or (c) secures froui the holder of the lien an
<br /> agreement satisfactory to Lender subordinating the lien to this Security Instrument.If Lender determines that any part
<br /> of the Property is subject to a lien which may attain priority over this Securiry Instrument, Lender may sive
<br /> Borrower a notice identifying the lien. Borrower shali satisfy the lien or take one or more of the actions set forth
<br /> above within 10 days of the giving of noticc. -
<br /> , 8.Fees.Leuder may collect fees and chazges authorized by We Secretary.
<br /> 9.Grounds for Acceleration of De6t. __i_
<br /> � � . � (a) Default. Lender may, except as Ilmited by regulations issucd by the Secretary, in the case of payment _
<br /> - � � defaults,require immediate payment in full of all sums secured by this Security Instrument if:
<br /> • (i)Boi7ower defaults by failing to pay in full any monthly payment xequired by this Secudty lnstrument
<br /> ., � � �' prior to or on the due date of the next monthly payment,or
<br /> ; ;
<br /> (ii)Borrower defaults by failing, for a period of thiny days,to perform any other obligations contained
<br /> � in this Security Instrument. -�_—
<br /> � (b) Sule Without Credit Approval. Lender shall, if permitted by applicable law(including Seciion 341(d) �::_-
<br /> . of the Garn-St. Germain Depository Institutions Act of 1982, 12 U.S.C. 1701j-3(d)) and with the prior =_�
<br /> approval of the Secretary,requirc immediate payment in full of all sums secured by this Security Instrument ="�
<br /> if: '
<br /> � -0R(NE)�ssoa�.oi Puqeaot8 Init��
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