200205721 - Laserfiche WebLink

Browse

200205721 Borrower shall also be in default if Borrower, during the lomt application process, gave materially false or inaccurate information or statements to Lender (or failed to provide Lender with any material information) in connection with the loan evidenced by the Note, including, but not limited to, representations concerning Borrower's occupancy of the Property as a principal residence. If this Security Instrument is nn a leasehold, Borrower shall comply wiW the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and fee title shall not be merged unless Lender agrees to the merger in writing. 6. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of any part of the Property, or for conveyance in place of condemnation, are hereby assigned and shall be paid to Lender to the extent of the full amount of the handedness that remains unpaid under the Note, and this Security Instrument. I ender shall apply such proceeds to the reduction of the indebtedness under the Note and this Security Instrument, first to any delinquent amounts applied in the order provided in paragraph 3, and then to prepay omet of principal. Any application of the proceeds to the principal shall not extend or postpone the due dam of the monthly paymenes, which arc referred m in paragraph 2, or change the amount of such payments. Any excess proceeds over an amount required to pay all out.slandutg indebtedness under the Note and this Security Inswment shall be paid to the entity legally counted thereto. 7. Charges to Borrower and Protection of Lender's Rights in the Property. Borrower .shall pay all governnar al or municipal charges, fines and ingwsifions that are not included in paragraph 2. Borrower shall pay these obligations on time directly to the entity which is awed the payment if failure to pay would adversely affect Lender's interest in the Property, upon Lender's request Borrower shall promptly fumish to Lender receipts evidencing these payments. If Borrower fails to make these payments or the payments required by paragraph 2, or fails to perform any other covenants and agreements contained in this Security Instrument, or Were is a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, for condemnation or to enforce laws or regulations), Wen Lender may do and pay whatever is necessary to protect the value of the Property and Lender's rights in the Property, including payment of loxes, hoard insurance and other items mentioned in paragraph 2. Any amounts disbursed by Lender under this paragraph shall become an additional debt of Borrower and be. secured by this Security Instrument. These amounts .shall bur interest from the date of disbursement, at the Note rate., and at the office of Lender, shall be immediately due and payable. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; do contends, in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from We holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Burrower a notice identifying the lien. Borrower shall satisfy the lien on lake one or more of the actions set forth above within 10 days of We giving of notice. 8. Fees. Lender may collect fees and charges authorized by the Secretary. 9. Grounds for Acceleration of Debt. (a) Default. Lender may, except as limited by regulations issued by the Secretary, in the case of payment detaults, require immediate payment in full of all sums secured by this Security Instrument if. (i) Borrower defaults by fading W pay in full arty monthly payment required by this Security Instrument prior to or on the due dale of the next monthly payment, or (ii) Borrower defaults by failing, for a period of Witty days, to perform any other obligations contained in this Security Instrument. (h) Sale Without Credit Approval. Lender shall, if permitted by applicable law (including Section 341(4) of the Cam -St Germain Depositary Institutions Act of 1982, 12 U.S.C. 1701j -3(o)) and with the prior approval of We Secretary, require immediate payment in full of all sums secured by this Security Instrument if Me ft 0i G604 APFL h: 0916149191 LOAN p:001ti149193 CMAH(N E) teuo4rm eaaa 4.. e M m,ia.