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<br /> � „-s abandoned PropertY. Borrower shall also be in de.faulE if Bvrrower. duriug the loan applirauon pmcess. gave .:. ` '
<br /> �;-,�--�_= = - --
<br /> ' - '`` materialty fals� or inascura[e informarion or statements co Ixader (or faile� ta provide Yxnder wi�h any matedal .
<br /> � � infomiauon) in connecdan witb the loan evidenced by the Note. including. but not limited to. tepresentations . , • ' .
<br /> x , " coaceminS Borrower's aocupaney of the Property as a principal residence. If this SecuritY instrument is on a . :' �- ;•,�,•
<br /> , • [easehotd,Borrnwer shall comply with the provisions of the tease.If Borrower acquires fee dde to the Property,the _... , �.
<br /> � � leasehotd and fee dde shall not be merged unless l.ender ag�ees to the merger in writing. . .< �; �.`,,.` .
<br /> ..l� 6.Condemnstion.The pmceeds of anyr award or claim for damages,dinecx or consequemial.in connecaon with '
<br /> . � yny caademnation or other takiag of aay part of the Praperty,or for oonveyance ia place of condemnation, ue .< �., .-°�
<br /> - .r%F��.T_-
<br /> , ' hereby assigaed and shall be paid to Ixnder w the exteat of the fuU amount of the indebtedness that remains tmpaid � , :�,.-
<br /> ' uadEr the Note and this Security Instn�ment. Lender slsall apgly such proceeds to ttte reducxion of the indebtedness .t : � __•
<br /> . • ander the Note and this Security /nsuument, first to any (elinquent amounts applied in the order provided in .. �
<br />_ ' ' ' paragraph 3,and then to pm�ayment of princjpal.Auy applicazlon of the pmceeds to the priacipal sball not extend or • "
<br /> ` pm
<br />- : . . `.. . poscpone the due date of the monthly payments,wlricb are referred to in paragraph 2.or change the amowu of sush �:_
<br /> °. ` , , _ payments. Any excess pmceeds over att amount required to pay all outstandiag indebtedness undes the Note and this . , �:�`�<,�,.
<br /> • $�jty�n�rn�ment shall be paid to itte entity legalty eAtitled ihetelo. .��:
<br /> .._ . . - Borrower shall pay all • - `-�
<br /> � � 7. C6arges to Borrower aad Protect�oa of I.ender's Rig6ts in ffie Ptnperty. -- ,�--,•• - __.
<br /> � ,.� �' governrnental or municipal charges, fines and impositions that are not included in paragraiph 2. Borrower shall pay • , Q'--
<br /> � � these obligations on tlme directly to the entity which is owed tha payment.If failure to pay would adversely affect � `�� ,��
<br /> . . . ,�:�• I e n d e r's i n t e r e s t i n t he P t u p e rt y, u pon Lender's zequest Sorrower shaU promptly fiunish to Lxnder receipts ...�..'_�___
<br /> • t t ;�_
<br /> . evidencing these payments. -
<br /> • If Borrower fails to makc these payments or the payments required bY P�S�P�2,or faiis to perform an}r other ��::
<br /> : • �. �;�;
<br /> `; covenanu and ageements contained in this Securiry Insnvment,or there is a legal pruceeding that may significanflY ��_ ' •.�.�.--
<br /> . ' ' affect Leader's rights in t8e Property(sacb as a pmceediag in banIaugtcy,for condemnation or to enforce lav�s or �:. ��-�__
<br /> , ` � regulations). then Lender may do aad pay whatever is necessary to protea the value of the Propecry aad I�nder's . �
<br /> ' righu ia the Property.including payment of taxes,ha7ard insurance and other items mentioned in paragraph 2. �_"_
<br /> .. My amounts disbursed by Lender under this paragrapb shall become an additional debt of Eorrower and be , . • —=
<br /> � ••.::�u_:
<br /> ' � s�stu�by this gecuriry Instrument. Thae amounts shall bear interest from the date of disbtusement. at the Note : �
<br /> ' � ' rate,aud at the apuon of I.ee�er.shail be immediately due aad payable. . '` ',�=�
<br /> . i , , :;b.}•';.���.
<br /> .. _.' . . Borrower sbaU pmmptly discharge any lien which has priority over this Se��uriry Iasuument unless Borrawer. ,. ._.
<br /> � (a) agrees ia wrlting to the payment of the obligation secured by t�e lien ia a manner acceptable to Leader; (b) �•°'.� " , :�=
<br /> � � i cuntests in good faith the lien by. or defends against enforcement of the lien in, legal proceedings wtuch in the .. • �:.==.
<br /> . . . '::,�`;._
<br /> Lender's opinion operate w prevent the enforcement of the lien; or (e) secures fcom the holder of the lien an � :.
<br /> .. ,. � agreeatent satisfactory to Lender subordinating the lien to this Secvriry Instrument.If Lender detennines that a�r part _ . �"''
<br /> - . � of the Property is subject to a lien which rnay attain priosiry over ttus Secuciry Instrument, Lender may give . ��'`'
<br /> . • Borrower a noace identifying the 1ien. Borrower shall satisfy the lien or take one or more of the actlons set fonh � ,.: ���� __
<br /> ' above withttt 10 days of the giving oY norice. . -�-
<br /> � ' : S.Fees.Lender may collea fees aad charges authorized by the Secretary. '•�
<br /> '.�.,� :°
<br /> • � 9.Grounds for Acceteration of Deb� ' `•�.� ' _ _
<br /> � (a)DelaWt. Lender may. except as limited by regulations issued by the Secretary,in the case of payment ` �•��;�� ; `` �
<br /> �, � � � �� , defaulu.require immediate payment in full of all sums secured by this Security Insuument if: .. : ' . -
<br /> �• (i)Bonower defaWu by failing to pay in full any mo�thly payment reqnired by this Sewriry Instrument . .
<br /> . � prior to or on the due date of the next monthly payment,or ' �
<br /> � (ii)Borrower defaults by failing,for a period of thirty days.to perfor�n any other obligations contained •
<br />`� � ' in this Security Instrument. , � •
<br /> .. ' (b)Sate Without Credit Approval.Lender sha11.if pemritted by applicable law(including Section 341(d) � • ,
<br /> • • � of the Ga�n-St. Germain Depository ]nstitutions Act of 1982, l2 U.S.C. 1701j-3(d)) and with the prior �
<br />; � .' approval of the Secretary.require immediate payment in full of all sums secured by this Sec�rity Instrument • �
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