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<br /> ..�,���. �.� . ' 98- ��ii2922
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<br /> �. •�� , circumstances. Borrower shall not cortunit wastc or destroy,da�nage or subs[antially changc dic Properry or allow tlic =�.
<br /> �� Property to deteriorate, reasonable wear and tcar excepted. Lcnder may inspect the Property if the Property is vacant �
<br /> or abandoned or th� loan is in default. Lender may take reasonabla action to protect and preserve such vacant or
<br /> abandoned Propeny. Borrower shall also be in default if Borrower, durins the loan npplicuti�n pra:ess, gave materially
<br /> ' '�� false or inaccurate informatlon or statements to Lender (or failed to provide Let►dcr with any niaterial information)
<br /> in connection with the loan evidenced by the Note,induding,but not liml[ed to,representations conce�rning Horrower's
<br /> occupancy of the Property as a principal residence. If this Security Instrument is on a leasehold, Botrawer shall wmply
<br /> ,_. ,��� with thc provisions uf the lease. If Borrower acqulres fec title to the Property, thc leasehold and fec utle shall not _
<br /> �f��- be merged unless Lendcr agrees to the rnerger in writing.
<br />- 6. Cond�tion. The proceeds of any award or claim for damages. direct or consequential, in connection with
<br /> � 4 any condemnation or other taking of any part of the Property, or for conveyance in place of condemnation, are hereby
<br />'F'�' ., ' assigned and shall be paid to Lender to the extent of the full amount of thc indebtedness that remains unpaid under
<br /> ' the Note and this Securi[y Instrument. Lender shall apply such proceeds to the reduction of the indebteduess under
<br /> �� the Note and this Security Ins[rument, �rst to any delinqucnt amounts applied in the order provided In pu�graph 3.
<br /> and then to prepaymen[ of principal. Any application af the prceeeds to the principal shall not extend or postpone
<br /> - the due date of the monthly payments, which are referred to in paragraph 2,or change the amount of such payments.
<br />' . Any excess proceeds over an amount required to pay all outstanding indebtedness under the Note and this Securiry
<br /> � Instrument shall b�: paid to the entity legally entitled thereto.
<br />'• �, Ch�rges to gorrower alxl Protection of i.en�fex'a Right� in the Property. Borrower shall pay all governmental
<br /> , ., or municipal charges,fines and impositions that are not included in paragraph 2. IIorrower shall pay these obligations
<br /> on time directly to the entity which is owed the payment. If fuilure to pay would adversely affect Lender's interest in
<br /> the Property, upon Lender's request Borrower shall promptly furnish to I.ender receipts evidencing these payments.
<br /> • �' If Borrower fails to rnake these payments or the payments required by paragraph 2,or fails to perform eny other
<br /> �,
<br /> � covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly
<br /> � affect I.ender's rights in the Property (such as a procceding in bankruptcy, for condemnation or to enforce laws or
<br /> .-. �` regulations), then Lender may do and pay whatever is necessary to protect the value of the Property and Lender's rights
<br /> . in the Property, including payment of taxes,hazard insurance and other items mentioned in paragraph 2.
<br /> , .. Any amounts disburscd by Lender under this paragraph shall become an additioual debt of Borrower and be
<br />,7��.:: .��� • secured by this Security Instrument. Th.,se amounts shall bear intexest from the date of disbursement at the Note rate.
<br /> �' '`�� w.;� �� rhp ngr�n� c,f isnder shall be immediately due and payable.
<br /> ;�..,
<br />-?`.""' `; � Horrower shall promptly discharge any lien w�hich has priority over this Security lnstrument unless isorrower: �aj
<br />_'��!� agrees in writing to the payment of the obligatiou secured by the lien in a manner acceptabfe to L.ender; (b) contests
<br /> a�c�::.��• �
<br /> �-:; - in good falth the I{en by.or defends against enforcement of the lien in,legal procecdings which in the I.ender's opinion
<br />°��:-;�.�:"�,;�� operate to prevent the enforcement of the Uen; or (c) secures from the holder of the lien an agreement sadsfa�:tory
<br /> ,_�,:K , .
<br />°l�;:�;,.�,,.�; to I.ender subordinating the lien to this Security lnstrument. If I.endcr determines that any pan of the Property �s
<br /> .;;-�_'t'�'' subject to a lien which may attain priority over this Security lnstruim:nt, L.ender may give Borrower a notice identifying
<br /> __.a-e p.��,� the lien. Borrower shall satisfy thc licn or ta.ke onc or more of the actions set forth above within 10 days of the giving
<br /> --�Hr'2�� of noticc.
<br /> .:,.�..
<br />-_•�-':��''��� 8. Fea. l.ender may collect fees and charses authorized by the Secretary.
<br /> -"�'� 9. Ground� for Avalenuion of Debt.
<br /> _,,�.�'
<br /> -�"#3- (a) Qefwlt. Lender may,except as limited by regulations issued by the Secretary in the case of paymrnt
<br /> ___ti.,�;�=� defaults, require immediate payment in full of all sums secured by this Security Instrument if:
<br /> ;_„4:;•-;;���y (i) Borrower defaults by fatling to pay in full any monthly payment required bythis Security Instrument
<br />___=_�;_�— prior to or on the due date of the next monthly payment, ot
<br /> __-i-�-:_;»?,- (ii) Bonower defaults by failing, for a period of thiny days,to perfonn any other obligations contuined
<br /> -�-�_•'_SX`�?� :
<br /> :::r•- . , in this Securiry Instrument.
<br />- �: -.�.��,.
<br />----`^���� ,. (b) Sale Without Cralit Appmvd. Lender shall,if permitted by applicable law(including section 341(d) of
<br /> � the Garn-St.Germain Depositary Institutions Act of 1982,12 U.S.C.1701j-3(d)) and with the Frior approval
<br />=��'#�:.�.r of the Secretary, require immediate payment in full of all sums secured by this Security Instrument if:
<br /> ��'��t'. .. (i) All or part of the Aroperty,or a beneficial interest in a trust owning all or part ot'the Property, is sold
<br /> ��:�:..�••.
<br /> s.„ or othenvise transferred (other than by devise or descent). and
<br /> .:•--.--
<br /> ��r�+� -, (ii) The Property is not occupied by the purchaser or grantee as his or her principal residence, or the
<br /> .��f(-�•. . .
<br /> _ , purchaser or grantee does so occupy the Property, but his or her credit has not been approved in
<br /> � acwrdance with the requirements of the Secretary.
<br /> (c) No Waivcr. If circumstances occur that would permit Lender to require immediate payment in full,but
<br /> Lender does not require sucli payments, Lender does not waive its rights with respect to subsequent events.
<br /> ' :� (d) RegWatioos of HUD 5ocretary. In many circumstances rcgulations issued by thc Secretary will limit _
<br /> s Lender's rights,in tiie cf►se of payrncnt defaults, to require immediate payment in full and foreclose if not paid. _
<br /> � Tliis Security Instrument docs uot authoriu acccleration or forcclosure if not pen�nitted by regulations of the �..
<br /> � � Sccretary. �
<br /> � (c) Mortgage Not Insurud. Borrower agrees that if this Sccurity Instrument and the Notc are not determincd �
<br /> y I to be eli�ible for insurance under the National Housing Act within 60 DAYS from the t-
<br /> s date hcrcof,Lender may,at its option require immediatc payment in full of all sun�s sccured by this Sec;uriry �
<br /> —_s� Inctrument. A wriucn statement of any authorized agent of the Secretary dated subsequent to �
<br /> _---'
<br /> - . _ _ _� __. .
<br /> 60 DAYS from the date hcreof, declining to insun this Sccurity Instrument ancl tne ivo[e, snau oe
<br /> decmed conclusive proof of such ineligiUility. Notwithstanding the foregoing,this option may r.ot be cxercised
<br /> by L.ender when thc unavailability of insurance is solcly due to Lender's failure to remit a motcgage insurance
<br /> premium to the 5ecretary.
<br /> NSOW6SKA-FIiA UL'HD OH TkUS"P � -
<br /> i��„x�,� SYNems.I�w IBU01 419ISG2 Vagc 3 of G _
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