200910238 - Laserfiche WebLink

Browse

200910238 shall also be itt default if l3orrawer, during; the lawn appl.icatior] process, gave materia.lIy false or inaccurate il]forn]atian or statements to l_.endcr (or failed to pruvide Lender witlz any material infc?rntation) ill L'attIll;Ctralt with the laara ev-idenc.ed by ti]e Note, i.ncluc1.ing, bt.rt not limited to, representations Cancernii7;~ }3orrotiver's occ).zpancy of the Property as a principal residence. If this Secturity Instrutatent is on. a leasehold, Borrower shall comply with the pts.)visions of the lease. If I3arro~~~er acquires fee title to the Pral,~erty, the leasehold and fee title sltall riot be l]]erbed un]es.s T_.wncier agrees to the merger in writing. 6. Candemna.tlpn. The proceeds of azay award or claim for dan]ages, direct or consequential, i~] coztnectian with any candenu]ation ar other takin; of any part of the Property, ar for conveyance ira place of candenmatian, are hereby assigned and shall be paid to Lender to the extent of fete full tunaunt of the indebteclraess that remains unpaid under the Note at]d rh.is Security Instrument. Let]det' shalt apply such praceed.s to the reduction of the incl.ebtedt]ess under the Note and Tl]is StGUr'fty IltStl'tlIt]t~rlt, first to any delinquent ariwunts applied in the ard.er provided ill paragraph :~, and then to prepayment of principal. Any application. of the proceeds to the principal shall not extend or postpone the due date of fete utontl]ly payznertts, which are referred to in paragraph 2, or change ttte arnou.l]t of such paytxlents. Any excess proceeds aver an an]ount required to pay all atztstan.ding indebtedness under the ?vTote and this Sectzriry Instr-tmient. shall be paid to the entity legally entitled thereto. "1, CI]arges to I3arrower and l'lotectiozr of Lendcl's Rights in the Fxoperty. t3arrower shall pay all gavernntental or li]unicipaI charges, fines and irt]pasitiozts that are not included ila paragraph 2. Rarrowc:r sl]all pay these obligations on time directly to the entity which is awed the payment. If failure to pay waitlcl adversely a:Ffecc Lerder's interest in the Property, upon Lender's request Bon-ower shall promptly furnish to Lender receipts evidencing these payttaents. If Borrower f'ai.ls to make these payments ar daa payments required by paragraph 2, or #hils to perform any other covenants and agt'eements contained itt this Security Instrument, or there is a legal proceeding that relay sigt]ificantly affecC Lender's rights in the Property. (such as a proceeding in Uaa]kxuptcy, far cander]ua<ltion ar to enforce laws or regulations), then I..end.er may da and pay whatever is necessary to prntect the valae of the Praper•ty and Lender's rights in the Property, including payla]ent of taxes, hazard insurance and otl]er items mentioned in paragraph 2. Any arnaunts disbursed by I.eucler under this paragraph sltall becan]e an additional debt of I3ormwer once be secured by this Security Irtstrtrt]aent. These arroaulxts shall bear interest from the date of disbursentezat, at the Nate rate, and at tlae option of I.end.er, shall be immediately due anti payable. Borrower shall pron]ptl}> discharge any lien which has priority over this Security Instrument artless Borrower; (a) agrees in writing to the paymelat of the abiigation secured by the lien h] a n]aruner acceptable to Lender; (b) contests i.za good faith the Hera by, ar defends aga..inst enforcement of the lien in, legal proceecl.ings tivlaicla ill the L,ettder's opinion operate to prevent the enforcement of the Bert; or (c) secures Eton] dte balder of the lien an agreement satisfactory to Lender subordinating the lien to this Secui°ity Instrttntent. If bender cietezinin~s that any part of the Fraperl:y is suhjec-t to a lien which may attaita priority over this Security Instrument, Lender n]ay give Borrower a notice identifyitag ttte lien. Borrower shalt satisfy the lien or take one or more of the actions set Earth above within lD days of ttte giving of notice. 8. )gees. I,erader ztaay collect fees and charges authorized by fete Secretary. 9. Grounds for Acceleratiot] of L1ebt, . (a) Default. Lender naay, except as lunited by regulations issued by the Secretary, in rho case of payment defaults, require in]rnediat.e payn]ent in fizl.! of all st)nts settrred by this Sectzri.iZr Instrument if: (i) l3orrawer defaults by failing to pay rn full any naanti.]Jy paytnertt regtzit'ec] by this Security ll]strtztnetat prior ro or on the due clan of the next monthly payment, ox (iij Borrower defaults by failing, fpr a period of thixty days, to perform any outer obligations contained in this Security Irastt~ument. (l]) Sale Without Cteclit ri.pl]z•aval. Lender shall, if permitted by applicable law (including Section 341(d) of tl].e Garn-St. Germairt Depository Instinrtions Act of 1982, I.2 LI.S.C.l7~lj-3(cl)) and with. the prior approval of the Secretary, require immediate payment in full of alt stints secured by this Security Instrument if: -AN(NE) (0407) Pagedof8 Inititlf3:,.J~.~