201105343 - Laserfiche WebLink

Browse

20��0534� abandoned Property. Borrower shall also be in default if Bonower, during the loan 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 Bonower' s occupancy of the Properiy as a principal residence. If this Security Instinament is on a leasehold, Bonower shall comply with the provisions of the lease. If Borrower acquires fce title to the Property, the leasehold and fee title shall not be merged unless I.ender agrees to the merger in writing. 6. Condemnatioa The pracceds of any award or claim for damages, dire�t ar consequential, in coimection with any condemnation or other taking of any part of the Property, or for conveyance in place of condenmation, aze hereby assigned and shall be paid to Lender to the extent of the full amount of the indebtedness that remains impaid under the Note and this Security Instiiunen� Lender shall apply such proceeds to the reduction of the indebtedness under the Note and this Se�urity Instrument, first to any delinquent amounts applied in the order provided in paragraph 3, and then to prepayment of principal. Any application of the proc�ds to the principal shall not extend or postpone the due date of the monthly payments, wluch are referred to in paragraph 2, or change the amowrt of such payments. Any excess proceeds over an amount re�uire3 to pay all outstanding indebteciness under the Note and this Security Instrament shall be paid to the entity legally entitled thereto. 7. Charg� to Borrower and Protection of Lender's Rights in the Property. Borrower shall pay all governmental ar m�micipal charges, fin� and impositions that are not included in paragraph Z. Bonowea shall pay thege obligations on time directly to the entity which is owed the paymen� If failure to pay wauld adversely affe�t Lender' s interest in the Properiy, upon Lender' s request Borrower shall promptly furnish to Lender receipts evidencing these payments. If Bonower fails to make these payments ar the payments required bY Pazagraph 2, ar fails to perform any other covenants and agreements contained in this Security Instrument, or there is a legai proc�ding that may significantly affect Lender' s rights in the Properiy (such as a procce�ing in bankruptcy, for condemnation or to enforce laws or regulations), then I.ender may do and pay whatever is necessary to prote�t the value of the Property and I,ender' s righLs in the Property, including payment of taxes, hazazd insurance and other items mentioned in paragraph 2. Any amounts disburse� by Lender under this paragraph sha11 bec:ome an additional debt of Borrower and be secured by this Sec�uity Instrument. These amow�ts shall bear interest from the date of disbursement, at the Note rate, and at the option of Lender, shall be imme�iiately due and payable. Borrower shall promptly discbarge any lien which has priority over this Security Instrument wi1� Bonower: (a) agr�s in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in goad faith the lien by, or defends against enforcement of the lien in, legal proce,edings 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 aay part of the Properiy is subject to a lien which may attain priority over this Sec�rity �nstniment, Lender may give Borrower a notice identifying the lien. Borrower sl�all satisfy the lien ar take one or more of the actions set forth above within 10 days of the giving of notice. S. Fees. Lender may collect fees and charges authorized by the Secretary. 9. Grounds for Acceleration of Debt (a) Defaul� Lender may, except as limited by regulations issued by the Secretary, in the case of payment defaults, require imme�iate payment in full of all sums secured by this Security Instiwment i� (i) Borrower defautts by failing to pay in full any monthly payment required by this Sacurity Instivment prior to or on the due date of the next monthly payment, or (ii) Bonower defaults by failing, for a peri� of thirty days, ta perform any other obligations contained in this Security Instrument. (b) Sale Withont Cret�it Approvel. Lender shall, if permitted by applicable law (including Ser�ion 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 all sums secured by this Security Inslrument i£ 2200144904 ry D V4NNE trdt�: �'1 „ 1 ° VMP�-4N(Nq (oao�l.o� Pa¢. a or a