|
,.,,�� , i
<br /> :.17W '
<br /> ��� .. ,..
<br /> �'w�r��.. .. - ��} �.
<br /> ,rv' 11' . . � '�'qav� ' � -
<br /> . ,. .. . � � - � � .��.r
<br /> � .. - . +„ • ���ti".
<br /> � . 98_ 1�,��3s �� - . .. ��,��-
<br /> circumstancx;s.Borrowcr shull not cammlt wastc ar dcstroy,damage or substantinily�hanBc thc Praperry or ailow the �
<br /> Propeny to detctioratc,rwsanablc;wc:nr und tcar cxccptut. Lcndcr may inspcct thc Property if thc Property is vacant �
<br /> • or abundoned or the laua !s ia dctnult. Lender may take reasonable actioa to protect end presecve such vacant or ,
<br /> � abandoned Property. Barrower shaA alsa bc in default if Bonower,during the loan applirsttlon procESS,gave materially .
<br /> fulse or Inaccurate informatian ar suitements ta Lender(or laUed ta provide�.ender v►�ith any material Information) .
<br /> • in c;apnectlan witb the loaa evldence.d by the Note,including,but aot Wnited ta,eepresentntlons concerning Bonawer's
<br /> occupancy of the Prnpetry as u princIpal tesidence.If this Security Instrument is on a leasehold,Borrower shall camply
<br /> wlth ttte provislons af thc lcasc:. !f�rrowcr acquires f�;ticic w th� Pruperty,che lwschold and fec titic shall nat � _ -
<br /> be mcrged unless Lcnder agrces ta the marger in wciting. • � .. _
<br /> ' " « 6, Condcmnadon The procceds of any awurd ar claim for damages,direct or consequendal,in coanection with ,. " ��''
<br /> ,,,. : `9
<br /> any condemnation or other taking of any part of the Prapeny,or for coaveyance in place oi condemnation,are bereby .., ,., „ ,: .
<br /> assigned and shaU he pald to Londer to thc cxtent of the full amount of the indebtedness that remains unpaid under � -
<br /> .�,;� -,�
<br /> t he N o t e a n d t h i s S e c u r l ry I n s t r u m e n t. I..e n d e r s b a l l a p p l y s u c h p roceeds to the reduction of the indebtedness under • _:x��"�---
<br /> • ...,. -
<br /> the Note and this Security Iastrument,Grst to any dellnquent attiaunts applled in thc ordcr provided ia paragraph 3, w. *A'• _
<br /> _--
<br /> ;��� -
<br /> r and thea to prepayntent of principal. Any application of the proceeds to ttte prlaclpal shall not extend ar postpons ;��_
<br /> � the due date of thc monthly payments,whicb arc referred to in paragraph 2,or change the amount of such payments. �.-.�,-,-
<br /> Any excess proceeds over an amount required to pay all outstanding indebtedness under the Noto and this Security ���=�_
<br /> Instrument shall be paid to We entity legally entitled thereto. ;?W;_
<br /> 7. Charges to Bormw�er and Pmtoctiaa of[cnder's Itighta ia We Property."IIonower shall pay all goveramental ���,,,
<br /> ar municipal charges.6nes and irapositioas that are not included in paragraph 2. Borrower shall pay these obllgatiuns ,;;r':�'.'�
<br /> -.F.,
<br /> on time directly to the entity which Ls owed the paymen� If failure to pay would ad��ersely affect Lender's Interest in :,s,ti::.
<br /> the Property,upon Lencler's request Bonower shall promptly furnLSh to L.ender receipts evidencing Wese payments. _.-
<br /> If Borrowei iails to make these payments or the payments required by paragraph 2,or fails to perform any other :;=4�',
<br /> ccrvenants and agr�ements contained in this Security Insuument,or there is a Iegal proceeding that may sigttUicantly ��
<br /> affec[Lender's rights 1�the Properry(such as a proceeding in bankrupery,for condemnation or to enforce laws or '.,��:
<br /> regulations),Wen Lender may do aad pay whatever is necessary to protect tlievalue of the Property and Lender's rights �"'�'�Y
<br /> �. in the Property�including payment of taxes,ha7ard insurance and other items mendoned in paragraph 2 ,`=�'"
<br /> ,•�;:-.��
<br /> Any anaounts disbursed by Lender under tWs paragraph shall become an additianal debt of Borrower and be ;f j�
<br /> ' � secured by this Security Instrumen� These amouats shall bear interest from the dato of disbursement at the Note rate,
<br /> and at the optlon of Lender shall be frnmediately due and paysi�le. _
<br /> `�' Borcower shall promptly discharge an5•llen which l�as priority over this Security Insuurnent unless Borrower:(a) _
<br /> � agrees in writing to the payment of the obligatIon secvred by trie uea in a manner accepcabie to LGndar;(�}iaatesis F .•�_ °—
<br /> in good faith We llea by,or defends agalnst enforcemeat of the lien in,legal proceedings which in the Leader's opinion ` _
<br /> � operate to prevent the enforcement of the lien;or(c)secures from the holder of the lien an agreement satisfactory � =
<br /> .,� to Lender subordinating the lien to thfs Security Instrumen� If I.ender deterniines that any part of thc Properry is 't:� r�
<br /> subject to a lien which may attain priority over this Security Instrument,Leader may give Bonower a notice identffying
<br /> the lien. Borrower shall satlsfy the lien or take ono or more of the actions set forth above within 10 clays of the gtving W ��-
<br /> ��
<br /> of notice. �`
<br /> & Foes. Lender may collect fees and cbarges suthorIzed by the Secretary.
<br /> 9. C3rounds for Aooeletatioa of Deb� _
<br /> (a) Defauit Lender may, except as Wnited by regulations issued by the Secretary in the case of payment -,
<br /> � defaults,require immedlate payment in full of all sums secured by this Se.curity Instrument if:
<br /> (i) Bonower deEsults by failing to pay ia full any monthly payment required by this Ser.urity Inscrument
<br /> prtor to or on the due date of the aext monthly payment,or —
<br /> (ii) Borrower defaults by failing,for a period of thirty days,to petform any other obligations contained �:
<br /> in this securiry Instrumcn� �,;::---
<br /> (b) Sale Without Credit ApprovaL Lender shall,if permitted by applicable law(including section 341(d)of = _
<br /> the C3arn-S�Geimain Depo�itory Institutions Act of 1982,12 U.S.C.1701j-3(d))and with the prtor approval _
<br /> of the Secretary,require immediate payment In full of all sums secuced by this Security Instrument if: - -6 -
<br /> (i) All or part of the Property,or a beneflctal interest in a trust owning all or part of the Properry,is sold
<br /> or otherwtse transfenc:d(other than by deviac u�uwccui),and �---
<br /> (ti) The Property is not occupicd by thc purchascr or grantee as his or her principal residence,or the .;;����,�;
<br /> � purchaser or grantee does so occupy the Property, but his or her credit has not been approved in -- �
<br /> accorciance with the requirements of the Secretary. ��"�
<br /> (c) No Waiver. If circumstances occur that would permit L,ender to require immediate payment in full,but � .- �`���
<br /> Lender does not require such payments,Lender does not waive its d�hts with respect to subsequent events. ��:+'��.•. �.::'." .
<br /> (d) Regutation�s ot HUD Socretary. In many circumstanccs rcgulations issued by the Secretary will limit ��•�"�i;=`s'��.•
<br /> ,.,, ..-c;.
<br /> Lender's rights,in the.rase of payment defaults,to require immediate payment in full and foreclosc if nnt paid. ��"y� <'� '•
<br /> . t .
<br /> This Security Instru�nent does not authorize acceleration or foreclosure if not permitted by regulations of the ' �
<br /> � Secretary.
<br /> � (e) Mort�age Not Insurod. Bonower ag,rees that if this Securiry Instrument and the Note arc not determined
<br /> i to be eligible fos Insurance under the National Housing Act within 60 DAYS from the
<br /> datc hercof,Lender may.at its option require immuliate payment in tull of all sums secured by this Security
<br /> � Instrument. A written stai�ment of any authorizcd agent of thc Secretary dated subsequcnt to �
<br /> ; 60 DAYS from the date hereof.declining to insure this Security Instrument and the Note,shall be
<br /> ' dc;c:med conclusive proof of such incli�ibiliry. Notwithstanding tne toregomg,tnis op�ion may not oe exercised ; ---�---
<br /> by Lcnder when thc unavatlability of Insurana;Is solcly due to L.ende:r's fa[lurc to rcmit a mortgagc Insurance �
<br /> premium to the Secretary. !
<br /> i
<br />- i
<br /> NlililtASKA-1•f{A D}3IiU UN 7RUSl' � �
<br /> D.:.v:r.em tiptem�.Inc l�)ula�b2 }�BKI'�U�h �
<br /> f
<br /> I
<br />
|