201103035 - Laserfiche WebLink

Browse

�Oi103035 abandoned Property. Borrower sha11 also be in default if Bonower, during tha loan application process, gave materiaily false or inaccurate infornnation 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 on a leasehold, Borrower sha11 comply with the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and fee title sha11 not be merged unless Lender agrees to the merger in writing. 6. Condemnation. The proceeds of any award or claim for damages, direct or conseqnential, in connection with any condemnation or other talcing of any part of the Property, or for conveyance in place of condemnation, are hereby assigned and sha11 be paid to Lender to the extent of the full amount of the indebtedness that r�►�+.�n� unpaid under the Note and tlus Security Instrumeizt. Lender 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 prepayment of principal. Any application of the proceeds to the principal sha11 not extend or postpone the due date of the monthly payments, which are referred to in paragraph 2, or change the amount of such payments. Any excess proceeds over an amount required to pay a11 outstanding indabtedness tmder the Note and this Security Instrument sha11 be paid to the entity legally entitled thereto. 7. Charges to Borrower and Protection of Lender's Rights in the Property. Bonower sha11 pay a1] governmental or municipal charges, fnes and impositions th�t aze not included in paragraph 2. Borrower sha11 pay these obligations on time directly to the entity which is owed the payment. If failure to pay would adversely affect Lender's interest in the Properiy, upon Lender's request Bonower sha11 promptly furnish to Lender receipts evidencing these payments. If Bonower fails to make these payments or the payments required by pazagraph 2, or fails to perform any other covenants and agreements contained in this Security Instrument, or there 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), then Lender ma.y do and pay whatever is necessary to prote�t the value of the Properiy and Lender's rights in the Property, including payment of taxes, hazard insurance and other items mentioned in paragraph 2. Any amounts disbursed by Lender under this pazagraph shall become an additional debt of Borrower and be secured by this Security Instrument. These amounts sha11 bear interest from the date of disbursement, at the Note rate, and at the option of Lender, sha11 be immediaiely due and payable. Bonower sha11 promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligarion secured by the lien in a manner acceptable to Lender; (b) contests 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 the 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 ma.y attain priority over this Security Instrument, Lender ma.y give Borrower a notice identifying the lien. Bonower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. 8. Fees. Lender may collect fees and charges authorized by the Secretary. 9, Grounds for Acceleration of Deb� (s) Defaul� Lender may, except as limited by regulations issued by the Secretary, in the case of payment defaults, require immediate payment in full of all sutns secured by this Security Instrument if: (i) Bonower defaults by failing to pay in full any monthly payment required by this Security Insttument prior to or on the due date of the next monthly payment, or (ii) Borrower defaults by failing, for a period of thirty days, to perform any other obligations contained in this Security Instrument. (b) Sale Without Credit ApprovaL Lender shall, if permitte@ by applicable law (including Section 341(d) of the Garn-St. Germain Depository Institutions Act of 1982, 12 U.S,C. 1701j-3(d)) and with the prior approval of the Secretary, require immediate payment in full of a11 sums secured by this Security Instrument if 22ooi22a3o varn�rE Irtklsls VMP�-4NINE)1oao�l.o� PeBe a ot s