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<br /> � 'circnmstanas.Bormwer shaII not commit waste or d�stroy,damage or subsiaatialt�'change the�operty or�aw tiie '� .� _
<br /> � , �mpercy to deterloiate,reasonable wear and tear escepted. Lender may mspect the Praperty if the Property is vacant _' � , ' : ::-
<br /> _ .. , or abaadoned or the Ioan Ls in defanit Lender may take reasonable action to pmtect aad presenre snch�cant�oy �,4 ��,� : ;
<br /> +- rr:�- �,�: S`. ��.:-
<br /> ` �. abaadoaed Propeity. Bormwer shaU aLw he in defantt if Boimwer,dniiag the loan appl�catton proaess,gav � .�.
<br /> , � Ea3se or inaaurate information�r statements to Lender(or failed to provIde Lehder artth aay materlal m6�rmation) �<. << .
<br /> � in oannection wlth the ioaa evtdenaed by the Not�,mcduding,but aot limited to,repmsenta8aas aoaoerniag B°n°wer's , r
<br /> .' � occupaacy of the Property as a principal residena��f thLs SewrIty lnstrament is on a leaseho2d,Bomnwer sLall wmply 5
<br /> ' .. -. ' wlth the pioerisions of the le,ase. If Bom�wer aoqnires fee tItle to the Propercy.the leasehold and f�t[de shall not , ,: .
<br />``� � ° be merged nnless Lender agrees to the merger in writtag. � :£..�
<br /> ` 6 Cand�nation� 'Iite pmceecfs of any award or claim for damagas,direct or consequential.in wanec[ioa with .5 .. ,
<br /> - - �f aay condemnatIon or other taWng of a�+part of the Property.or for conveyanoe in plaoe of oondemnarioA are hereby - -
<br /> -�
<br /> -.::- < <
<br /> , assigned and shall he paid w Lender to the estent of We full amonnt of the fadebtedaess that remains onpaid uader � � ��
<br /> . the Note and thLs Secatity Instroiaent Lender shaIl aPPIY�P��tO��°n flf the mdebtedness under . � •,. ,
<br /> �.'. , . the Note and this Security lnstraraeat,Szst to a�r deliuqnent amounts applied in the order pravIded ia puagtaph 3. , , :.
<br /> f' ; attd then to prepayment of principal. �►nY BPP�on of tiie pmceeds to the principal shall not e.�tend or postpone ',y '._f-.. :
<br /> ;� ° ` thc dne date of the monthiy payments,which are referreti to in paiagtaph 2.or change the amount of swch paymeais. n',
<br /> . �� AnY�s praoeeds over aa amonnt reqnired to pay ail ontstaading iadeUtednes5 nnder the Nate aad Wis Secudty - ` __
<br /> �_ �t insoroment shall be paid to the entity Iegally enatIed thereto. `' �
<br />: ,:'� . .i 7. �arges to�rca�aad Sro��afLendds Ri�ets in th$Pmpetiy. Boirower shari pay all govemmental �� �,u �_.:
<br /> - or municapat c�rarg�s,Snrs and imposit�ans that are not included in paragcaph 2 BorrQwer shali pay tItese oblI�tions --
<br /> a
<br /> i;` ' � � on t[me directiq to the entity which ls owed the pay�uen� If failure to pay vuonld advessciy affea L�nde��s interest ia :
<br /> a ue
<br /> `� ' • tfle Property,nPon Leader's request Borrower sbalt pnumptly fnmisb ta Lender rece�ipu evldencing thsse payments. . ;�• ,. _' _
<br />�.f'� Tf Bortower fails tn make these payments or the payment5 requimd bY F�f�Ph Z.or fails ta perform aay other . --
<br /> `r , . . � oavenants and agce�cmeuts o�ntained ia this Secudty Iasuameat,or Were is a 2eg�1 pmoeediag that may sf�nifrcantlY _
<br /> :s affect Leader's rights in ttte Property(sach as a pmceeding iu baataupuy.for oonQemnation or to enforce laws or . ' -: --
<br /> -:` . . � - . regulatIons),tDen Lender maydoaad paywhatever is nece�ry to pmtect thevaine of the Praperty and Lender's iights .. _`-`'-_
<br />.i f � �.�° in the Property,including PaYment of r�es,hazard iasaiance and other items mentioned in par'agiaPh Z r `.. . �-
<br /> � � ' `•'� A i ry a m o n n t s d i s b u r s e d b q L e n d e r o n d e r t h L s p a r a g a P h s h a l l b e c ome an addiuonai debt of Botrowes and be ;:-��;_3�
<br /> - secured by Wis Security instrument 'Ihese amonats shall beat interest from the date of dfisbn�sement at the Note rate, r= :
<br /> ` • •-- -_
<br />--% ' � .. aud at the oputon of Lender shall be immediately dne and payable. �- >`.;?'�=-.
<br /> ��i_ -:i Barrower shall promptiy dischar�e any t�en which has prIorltq over this SezurIty Insuumeat uni�ss Borro�ver.(a) • : _
<br /> . . . agrees in writing w the payment of the oblig�tIon secaued by the Hen in a manner ac�eptable to Lender,(b)contests ;�'� -
<br /> - . in good faith the lIen by,or defends against enforoement of�the lIen in,tepl praaeedingS wHich in the Iender's opinion �' S,;"�__
<br /> � � operate to prevent the enforcement of the lien;or(c)secares from the ho2der of tt�e lien an agreement satisfactory ,�� t�'=
<br /> ;��.-�-
<br /> - . to Lender subordinating the iten to this Secarity Insuument If I.,ender determiues that aay part of the properry is :�
<br /> u
<br /> � subject to a lien which may susia prIority over Wis Secudty Instrament,Leader may give Bonower a notice Identifying �'�.��=
<br /> � • the lien Borrower shall satisfy the lien or taIte oae or more oY the actions set forth above within 10 days of tDe giving . .:.t;
<br /> . of nouce. � r `•�r.
<br /> � • g Fe� Lender may colle�t fees and charges suthorized by the Se�aetary. • . •
<br /> . 4 tisounds for Aooeterattaa of DebL - �-
<br /> ; (ay Defanit l.ender may,escept as ltmited by regutations issued by the Secretary in the�ase of payatent � . -���-
<br /> ;a...,
<br /> defaults.require immediate payment in fuU of all sums secared by this SecurIty Insuument iL . �' :;�`'
<br /> ' � ' (h Boaower defaults by faIling to pay in full any monthly payment required by tbis 5ecariry Insuument .. ��`':.
<br /> , ' . � prlor to or on We due date of the nest monthty payment,or -_
<br />: :�.:� . (ti) Borrower defaults by failing,for a perIod of Wirty days,to perform any oWer obiigattons contained . , . _
<br /> • • ..� . • in ttils Security Insuamen� .. . ; --
<br /> (b) Sate qlithaot CYedit Appmv�aL L,ender shall,lf permitted by appllcable law(inciudiug section 341(d)of
<br /> t$e Garn-5�C3erwaia Deposicory Institutions Act of 1982,12 US.C.1701j-3(d))and wiW the prlor appraval , .
<br /> • :`� of the Secretary,require immediate payment ln f�ill of aU sums�ecured by Wis Securiry Instrument i� � : ; -
<br /> -;�., . (i) Ail or part of the Property,or a beneScial interrst in a trust owning all or pan of the Propeny,is so2d
<br /> _ • or otheiwise uansfened(other than by devLse or descent),and •
<br /> � .- (il) The Property is not occupied by the pnrchaser or grantee as his or her princlpal residence,or the , .
<br /> ; �• ' purchaser or grantee does so occupy tlte Property, but his or her credit has not been appraved ia �
<br /> accordaace witb the requirements of the Se.cretary. �
<br /> ' � . � (c) No VUsiver. If clrcumstances occvr that wouid permit Lender to require Immedlate payment in fiill,but � . . .
<br /> , � , � Lender daes not require such paycnents.Lender does not waive its rights with respect to subsequent events. �+�� ' .
<br /> • . � (d) Regalations oi HUD Secactary. In many circumstance�s regulations Lssued by the Secreta�y wiU limit .
<br /> � �� Lender's rlghts,in the case ot payment defaulf�,to require lmmediate payment In full and forectose if not paid. .
<br /> s 'I7�ls Sacurlty Instrument does not authorize acceleratton or foreclosure�f not permitted by regulations of the
<br />' ' •� Secretary. � ..
<br /> � � (e) Mortpge Not lnsarea. Bonawer agcees that if thLs Security Instrnment and the Note are not determined •
<br /> ' , to be ellgible for insurartce under the Nadonal Housing Act withln 60 DAYS from the . �
<br /> .• � datc hereof,Lender may,at its aptioa requlre lmtaedlate payment ln full of all sums secured by this Security
<br /> �:�`� f Instrumen� A written statement of any authorized agent of the Secretary dated subsequent to :
<br /> 1 60 DAYS &om We date hereo�declining to lnsure thLs Security Instrument and the Note,shall be
<br /> � � deemed conclnslve proof of such lnellgibllity. Notwlthstaading tt�e foregoing,th9s option may not be exercised
<br />,y�`�� . � by Lender when the unavailatsllity of insurance is solely due to Lender's failwe to remit a mortgage insurauce f
<br /> � � premium ro the Secrctary. i ' . ,
<br /> i
<br /> NffiR/�SKf1.FHA DS6D ON'1RUSf �
<br /> . - _ Daumm�Syntem�,Ina(b00)64?1362 Page 3 ot 6 � , .
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