|
��14�4���
<br /> ma�erxa��y false or in.accura�e ainfarma�an or sta.tements�v Lender (or failed to pra�ide Lender v�ith any ma�er�al
<br /> it�formation} in connectian �vith the Xoan evidenced by �he Nore, inc�ucli�a.g, bu� not Ii�ai.�ted xa, represe�.�at�ons
<br /> concerning Barrower's occupancy of t�a.e Property as a principa� residence. If�h�s Se�uri�y Ins�rumen� is on a
<br /> Ie�sehold, Borro�ver sha11 comp�y wi�h the pro��s�ons of�he�ease. If Borrower acquires fee t�t�e to the Prvperty, the
<br /> � �easehQld and fee�i�le sha�l no�be merged.unless Lender agrees�o fihe merger in writ�a.g.
<br /> �. Condemnation. The proceeds of an�r award or cla�.m for damages, direct or consequen�iaZi l�l COIl1I�C�IQI1
<br /> v�ith any candenanation or a�her ta�ing of an�r part of�the Praperty, or for conveyance in.place af condemna�.on, are
<br /> hereby ass�gned and shall be paxd xo Lender�a�he ex�ent af�he fu�.l amaunt of the indebtedness tha.�remauLs ura.,paid
<br /> under the Nate and this Securxty Instrumen�. Lender sha11 appl�r such proceeds to the reducf�on af the in.deb�edness
<br /> u�.der �he Note and th�.s Security Ins�ru�n,ent, fxrst ta any delinquent amoun�s applied in the order provided in
<br /> paxagraph 3, and then�o prepaymen�of princ�pa�. Any applica�ion of the procee�.s to�he principal shail not extend
<br /> or pos�one the due d.ate of�he monthl.y payments,�rhich are referre,d.�o�n paragraph 2, or cha�ge the am.awti.t of such
<br /> pay�nents. Ax�.y excess proceeds o�rer a�.amoun.t required�o pay a��ou�sfia�ading indeb�ed.n.ess under the No�e and�his
<br /> Securxty Insi�rumer�t shall be pazd�o the entity Iega�Iy entxt�ed thereto.
<br /> 7. Cbarges to Borrower and ProtectYon of Lender's Rights in the Propert�. Barr�v�rer shall pa� all
<br /> governmenta�or munaic�pa�charges, f nes and i.mpasxt�ons tha.�are no�included.xn paragraph 2. Borrower shall pa�
<br /> these ab�iga�ions on�i.m.e ci�recx�y�o the enti�y vvhieh�s ovcred�h.e�ay�n.en�. If fai�ure to pay wau�d ad�erse�y affect
<br /> Lender�s interes� in �the Froperty, upon Lender's request Bonower sha�1 promptly furnish �o Lender receipts
<br /> �
<br /> eviden.cing these paymen�s.
<br /> If B�rro�rer fa�ils to make these paymen�s or th.e paymen�s required by pa.ragraph 2, �r fails to gerfarm any ateher
<br /> co�enants aan.d agreements cantained in�i.s Securi.ty Ins�nent, or�b.ere is a legal proceeding tha�may significantl�
<br /> affecx Lender's righ�s in�he Praper�y�such as a proceeding in bankruptcy, for eondemnatian or to enforce laws or
<br /> regu�atians}, then Lender ma�do and pa�wha�ever�s necessary ta protec�xh.e va�ue of the Prapert�and L�nder's
<br /> r�ghts iati.�h.e Property, includu�g payment of�axes, hazard insurance and afher items mentioned i.n paragrap�2.
<br /> An.y amaunts disbursed by Lender under fiah�is paragraph sha.11 become an addi�iona� debti af Borra�er and be
<br /> s�cured by�us Security Instrurnenx. T"hese am.oun.ts shall beax interest from the dat�of disburseme$t at the Note ra�e,
<br /> and a��he apt�an of Lender sha�l be inamediate�y due and payab�e.
<br /> Borrower shall pramptly d�scharge an.y lien vvhich has priority aver this Securit�Ins�rument unl.�ss Borrower:
<br /> �a�agrees�n v�rriti.ng ta�e pa�m.ent af the abliga�io�.seeute�by the Iien in a manner acceptable to Lender;�b}co�tes�s
<br /> in gaad fasth �he l�en by, flr defends agaianst enforcemen� of the Iien u�, 1ega1 proceedings wh�ch in the Lender's
<br /> opi_ni�� operate to grevent �he enforcement of the I�en, or �c} secures from the holder of the lien. a,n agreement
<br /> satisfactory�a Lender subord�.n.ati�.g �,he lien ta�his Securi�y Inst�uarnen�. If Lender determin.es th.at any part af�he
<br /> Praperty is subject�o a lien vvhich may attain pr�or�t�a�er thi.s Securit�Instrumen�, I�ender may gi�e Borra�er a
<br /> nat�ce xden�ifying the Iien. Barrower shall sa�isfy the Iien or fi,�ke one or more af the ac�.ox�s set forth abo�e wi.thi�i
<br /> 1� days af the g��i�ng of notice.
<br /> S. Fees. Lender ma.y col�ec�fees and charges au�horized by�he Secretaary.
<br /> �. �rounds for Acce�eraiian of I�ebt�
<br /> [a} DefauX� Lender rnay, excep�as�im�.ted by reguiations issued by�he Secretary iu�.�h.e case of pa�rn.en�
<br /> defau.I�s, require irnmed�ate payrnen�in fuli af aI�su�.s secured by�hais Securi�y Ins�rument if:
<br /> ��} �rrawer defaul�s by fa��in.g to pa� in. full any mont�ly paymen� requiared �y thi.s Secur��y
<br /> ' Ins�u�ment prior ta or on�a.e due da�e of�he nexr rnon��payxYten�, or
<br /> ���} Borrower defaultis by fa��ing, for a periad of thir�y days, to perform a,ny other obliga�ians
<br /> canta.iaa�e�in fihis Securi�y I�nsl�u.men�.
<br /> �b} Sa�e W�thout Credit�Approva�., Lender shall,if permitted b�applicab�e 1aw�includi,n,g sec��on 34�.�d�
<br /> of the Garn-St. Germain.Depos��ory I�s�t�xu.�.oa�s Ac�of 198Z, 12 U.S.C. 1.7�1 j-3�d}} and w�th �h,e pr�or
<br /> appro�ral of�he Secaret,ar�, require immedia�e paym.�nn.�i.�.full of all sums s�ured by�hi.s Securi�r In.s�rumen�if:
<br /> �i� AI�or par�of the Proper�r, or a benef c�a�interest in a trust aw�ung all or part af�he Property, xs
<br /> sald or oth.�ar�vi.se transferred�oth.er�h.a�.by de�ise ar descent�, and
<br /> �A Naa�s� oma oF T�usT� ��s ,�,�ra,��
<br /> N ED�TZ.FHA 0?ID 31'#� Pag e 4 of 9 www.afocma�ic.co�
<br /> "� '[
<br /> r
<br /> �f • r
<br />
|