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201107903
<br />abaadoned Property. Borrower shall also be in default if Borrower, during the loan application process, gave
<br />materially false or ina.ccurate information or statements to Lender (or faile� to provide Lender with any nnaterial-
<br />information) in co�me�ion with the lo� evidenced by the Note, including, but not limited to, representstions
<br />concerning Boxrower° s occupancy of the Property as a principal residence. If this Security Instrument is on a
<br />leasehold, Borrower sl�ll �omply with the provisions of the lease. If Borrower acquires fe,e title to the Property, the
<br />leasehold and f� title shall not be merg� unless Lender a�ees to the merger in writing.
<br />6. Condemnation. The praceeds of any award ar claim for damages, dire�t or consequential, in comiectiar► with
<br />any condenmation or other talcing of any pazt of the Properiy, or for conveyance in place of condemnation, are
<br />hereby assigned and sl�all be paid to Lender to the extent of the full aznount of the indebtedness that remains impaid
<br />under the Note and this Security Tnctrn,,,en�. Lender shall apply such proca�s to the re�uction of the indebte�n�
<br />under the Note and �his Se�uity Insttvment, first to any delinquent amouuts applied in the order provided in
<br />paragraph 3, and then to prepayment of principal. Any aPplication of the proc�s to the principal sball not extend or
<br />postpone the due date of the monthly payments, which are referred to in pazagraph 2, or change the amount of such
<br />payments. Any excess procee�s over an amount re�uired to pay all outstanding indebtedness under the Note and t1�is
<br />S�urity rnstn�**+en� shall be paid to the entity legally entitled thereYo.
<br />7. Charges to Borrower and Protection of Lender's Rights �in the Property. Bo�ower shall pay all
<br />governmental or mucucipal chazges, fines and imposirions that are not included in paragraph Z. Bonower shall pay
<br />these obligations on time dire�tly to the entity wlrich is oweri the payment. If failura to pay would adversely affect
<br />Lender' s interest in the Property, upon I,ender' s request Bonower shall promptly fumish to Lender re�eipts
<br />evidencing these payments.
<br />If Borrower fails to meke these payments or the payments requirefl by paragraph 2, or fails to perform any other
<br />covenants and agr�ts contained in this Se�urity Instri�ment, or there is a legal proceeding tUat may signific�ntly
<br />affect Lender' s rights � the Properiy (such as a groceeding in bankruptcy, for condemnation or to enforce laws or
<br />regutations), then Lender may do and pay w�iatever is necessary to prote�t the value of the Progeriy and Lender's
<br />rights in the Property, including payment of taxes, hezard insurance and other items mentioned in paragraph 2.
<br />Any amowrts clisburse� by Lender under this p�graph sUall become an additional debt of Bonower and be
<br />secured by this 5ecurity Instrument. These amounts shall beaz interest from the date of disbursement, at the Note
<br />rate, and at Yhe optaon of I.ender, shall be imme�iately due and payable.
<br />B�arower shall promptly discharge any lien which has priority ova this Se�urity Instrument unless Bonower:
<br />(a) agrees in writing to the payment of the obligation se,cured by the lien in a manner acceptable to Lender; (b)
<br />contests in gaad faisth the lien by, or defends against enforcement of the lien in, legal proceedings which in the
<br />Lender's opinion ope�ate to prevent the enfarcement of the lien; or (c) secures from the holder of tha lien an
<br />agreement satisfactory to Lender subordinating the lien to this Se�urity Instrument. If I.ender determines that any part
<br />of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give
<br />Borrower a notice identifying the lien. Borrower shall satisfy tha lien or take one or more of the actions set forth
<br />above within 10 days of the giving of notice.
<br />8. Fees. Lender may colle,ct fees and charges authorized by the Secxetary.
<br />9. Gronnds for Acceleration of Deb�
<br />(a) Defanl� Lender may, except as limiteri by regulations issued by the S�retazy, in the case of payment
<br />defaults, require imme3iate payment in full of all sums se�ure� by this Se,cuurity Insirument if
<br />(i) Borrower defa.ults by failing to pay in full any monthly payment required by this Security Inshument
<br />prior to or on the due date of the next manthly payment, or
<br />(u) Borrower defaults by failing, for a period of thirty days, to perform any other obligatirn�s contained
<br />i21 this Security rn. �m �.
<br />(b) Sale Withont Credit Apprnval. Lender shall, if pexmittefl by applicable law (including Se�tion 341(�
<br />of the Garn St. Germain Depository Insritutions Act of 1982, 12 U.S.C. 1701j-3(d)) and with the prior
<br />approval of the Se�retazy, require imme3iate payment in full of all sums sec,vred by this Security Instrument
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