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<br /> abandoned Pruperty. Botrotvcr sh�ll RIS(1 hc in default if Barrowcr, during thc loan application ptocess, guvc _ :
<br /> ��, materiully false or inaccurate information or statements ro Lcnder (ar failed to provide LenSer wich u�y macedal ,,�j.
<br /> ��W:,°:�y:.=:
<br /> , .,, :,r, information) in con�iection with the loan evidenced by the Note, includ[ng, but not limited to, representatioris .t:s��
<br /> concerning Bonower's occupancy of che Propeny as a principal residence. If this Securiry lnstrument is on a `;�,�,�--
<br /> leasehold,Borrower shall comply with the provisions of tye lease. lf Borrower acquires fee title to the Property,the :.,A._��-
<br /> ;,s.�,.
<br /> leasehold and fee titic shaU not be merged unless L.ender agrees to the merger in wricing• .r.�-�_Y
<br /> 6.Condemnation.The proceeds of any uwurd or claim for damagss,direct or consequential, in connection with .J�,.�.,_} _
<br /> •� any condemnation or other taking of azsy part of the Property. or for conveyance in place of conde►nnation, ate
<br /> hereby assigned and shall be paid to l.ender to the eatent of tliee full amount of the indebtedness that remains unpaid '��.•�
<br /> under the Note and this Securiry Instrument. Lender sh�ll apply such proceeds ro the reduction of the indebtedness
<br /> under the Note and this Security Instrument, first to any delinquent amounts applted in the order provided in �;yv?�,�.,
<br /> �; paragraph 3,and then to prepayment of principal. Any application of the proceeds to the principal shall not extend or ,.;:a j�,�
<br /> ,� postpone the due date of che monthl ayments, which aze referred to in aragraph 2,or change the amount of such ,�.���
<br /> YP
<br /> �I ments. An excess proceeds over an amount rcyuired to pay all outst nding indebtedness under the Note and this �.,;�_"�
<br /> � pay y - — -
<br /> Security Instrument shall be paid to the entity legally entided thereto. go�Wer shall pay all �-•`=;�°
<br /> 7. Charges to Borrower and Protection of Lender s Rights in the PropertY• • -
<br /> �� govemmental or municipal chazges, fines and impositi4ns that are not included in parasraph 2. Bonower shall pay -.,;,«-,'�"
<br /> these obligations on time dicectly to the entity which is owed the payment. If failure to pay would adversely affect ��''
<br /> I,cnder's interest in the Property, upon Lender's request Borrower shall promptly fumish to I.ender receipts ��
<br /> evidencing these payments. a ra h 2, or fails to perform any other ��_"
<br /> � If Borrower fails to make these payments or 1.he payments required by par g p _
<br /> covenants and agreements contained in this Securiry Instrument. or therics forg ondemnation or to enforan1lawstor
<br /> �' affect Yxnder's rights in the Property(such as a proceeding in bankrup Y. _
<br /> `� regulations), then Lender may do and pay whatever is necessary to protect the value of the Property and Lender's
<br /> K rights in the Property,including pnyment af taxes,hazard ins�!rance and other items mentioned in paragrapb 2.
<br /> � pny amounts disbursed by Lender under this paragraph sUall become an additional debt af Borrower and be
<br />_ secured by this Security Instrument.These amounts shall bear interest from die date of disbursement. at the Note
<br /> � rate,and at the option of L.endcr,shall be immediatcly due and payable.
<br /> � Bonower shall promptly discharge any lien which has priority over this Security lnstrument unless Borrower:
<br /> • (a) agrees in writing to the payment af the obligation secured by the lien in a manner acceptable to Lender; (b)
<br /> contests in good faith the lien by, or defends agalnst enforcement of the lien in, legal proceedings which in the
<br /> Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an
<br /> agreement satisfactory to Lender subordinating che lien to this Security Instrument. If I,ender determines that any pan
<br /> of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give
<br /> Bonower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set fonh
<br /> � above within 10 days of the giving of nodce. �_
<br /> � �, g,gees.I.ender may collect fees and charges authorized by the Secretary.
<br /> � 9.Grounds for Acceleration of Debt. _
<br /> �. (a) Default. Lender may, except as limited by regulations issued by the Secretary, in the case of payment - -
<br /> defaults,require immediate payment in full of all sums secured by this Securiry Instrument if:
<br /> 3 �� (t) Bonower defaults by failing to pay in full any monthly payment required by this Security Instrument _
<br /> • prior co or on the due date of the next monthly payment,or �
<br /> . � � (ii)Borrower defaults by failing, for a period of chirty days,to perform any other obligations contained '`
<br /> ° in this Security Instrument. � `---
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<br /> � (b)Sale Wtthout Credit Approval. Lender shall,if permitted by applicable law(inclnding Section 341( ? L��--
<br /> of the Garn-St. Gersnain Depository Institutions Act uf 1982, 12 U.S.C. 1701j•3(d)) :uid wi�h the prior �n�,�+- __
<br /> Y approvai of the Secretary.require immediate payment in fult of all sums secured by this Security Instrumcnt t __ .
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