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20i104685
<br />abandoned Praperiy. Borrower shall also be in default if Borrower, during the loan application process, gave
<br />materially false or inaccura.te information or statements to Lender (or failed to provide Lendar with any mat�ial
<br />information) in conneetion with the loan evidenced by the Note, including, but not limited to, representations
<br />concerning Borrower' s axupancy of the Propeity as a principal residence. If this Security Instrument is on a
<br />leasehold, Borrower shall comply with the provisions of the lease. If Borrower acquires fea titla to the Property, the
<br />leasehold and fe� title sba.11 not be merged unless Lender agrees ta the merger in writing.
<br />6. Condemnation. The proc�ds of any award or cl�m for damages, dire�t or conse�uential, in connection with
<br />any crondearroation or other taking of any part of tha Property, or far conveyance in place of condemnation, are
<br />hereby assigned and sba11 ba paid to Lende� to the extent of the full amount of the indebtadness that remains unpaid
<br />under the Nute and this Se�urity Tnctr�,,,,�, Lender sha11 apply such proceeds to the reduction of tha indebtedness
<br />under the Note and this Security Instrummt, first to any delinquent amounts applied in the order provided in
<br />paragraph 3, and then to prepayment of principal. Any application of the procee�s to tha principal shall not extend or
<br />postpone the due date of the monthly payments, which are referred to in paragraph 2, or change the amourrt of such
<br />payments. Any excess proceed.c over an amount requirerl to pay all outstanding indebtedness under the Note and this
<br />Security Instrument shall be paid to the entity legally entitled thereto.
<br />7. Charges to Borrower and Protectton of Lender's Rights in the Properiy. Borrower shall pay all
<br />governmental or municipal chazges, fines and impositions that are not included in paragraph 2. Borrowez ahall PaY
<br />these obligations on time directly to the entity which is owed the payment. If failure to pay would adversely affect
<br />Lender' s interest in the Properiy, upon Lender' s request Bonower shall promptly fumiah to Le�der receipts
<br />evidencing these payments.
<br />If Borrower fails to make thesa payments ar the PaYments required bY P�'�Ph 2, or fails to perform any other
<br />covenants and agr�ts contained in this Security Instr�t, or there is a legal Pr�g ��Y �S��Y
<br />affect Lender' s rights in the Property (such as a proceeding in bankruptcy, for candemnation ar to enforce laws or
<br />regulations), then I,ender may do and pay whatever is ne�essary to proteet the value of tha Property and I,ender' s
<br />rights in the Property, including payment of taxes, ha�ard insiu�anc� and other items mentioneci in paragraph 2.
<br />Any amounts disbursed by Lender under this paragraph shall be�ome an additional debt of Boaower and ba
<br />secured by this Security Instrument. These amounts sha11 be� interest from the date of disbursement, at the Note
<br />rate, and at the option of Lender, shall be immediately due and payable.
<br />Boirower shall promptly discharge any lien which has priority over this Se�urity Instrument unless Boa�ower:
<br />(a) agrees in writing to the payment of the obligation secured by the lien in a manner �table to Lender; (b)
<br />contests in good faith the lien by, ar defends against enforcement of the lien in, legal proc�edings which in the
<br />Lender' s opinion opc�ate to prevent the e�forcem�t of the lien; or (c) secures &om the holder of the lie,n an
<br />agi'eement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part
<br />of the Property is subje�t to a lien which may atta,in priority over this Security Inslrament, Lender may give
<br />Bosower a notice identifying the lien. Borrower shall satisfy the lien or take one ar more of the actions set forth
<br />above within 10 days of the giving of notice.
<br />8. Fees. Lender may collect fces and charges authorized by the Secretary.
<br />9. Gronnds for Acceleral3on of Deb�
<br />(a) Defanl� Lender may, except as limited by regulations issued by the Secretazy, in the case of payment
<br />defa.ults, require immediate payment in full of all s�mns secured by this S�urity rnctr�_en+ if
<br />(i) Borrower defaults by failing to pay in full any monthly payment re�uirefl by this Se�urity Instrument
<br />prior to or on the due date of the next monthly payment, or
<br />(u) Borrower defaults by failing, for a period of thirty days, to perform any other obligations contained
<br />in this Security Instrument.
<br />(b) Sale Withont GYedit Approval. Lender shall, if permitted by applicable law (including Section 341(d)
<br />of the Gazn St. Germain Depository Institutions Act of 1982, 12 U.S.C. 1701j-3(d)) and with the prior
<br />approval of the Saeretary, require imme�;a� payment in fiill of a11 sums secured by this Security Inslrument
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