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<br /> abandoned Property. Borrower shall also be in default if Borrower, during the loan application process, gave � • . � s<' ,i:
<br />� materially false or inaccurate information or statements to Lender (or failed to provide Lender with any material ,
<br /> information) in canneccion ��vith the loan evidenced by [he Note, including, but noc limited co, reFresentacions �.:
<br /> conceming Borrower's occupancy of the Properry as a principal residence. If this Security Instrument is on a i � . .. • _
<br /> leasehold. Borrower shaU comply with the provisions of the lease.If Borrower acquires fee title to the Property, the � . • '—
<br /> leasehold and fee tide shall not be merged unless Lender agrees to the merger ia writing• f . ,,.;
<br /> 6.Coudemnation.The proceeds of any award or claim far damages,direct or consequential,in conneccion with , • ��_�
<br /> any condemnation or other taking of any part of the Property, or for conveyance in place of condemnauon, are �..' : . :.�:. ., �,•;.� �";
<br /> hereby assigned and shatl be paid to Lender to the extent of the full amount of the indebtedness that remains unpaid E_ . __.,�,•.=�._-_
<br /> under the Note and this Securiry Instr�ment• Lender shaU apply such proceeds to the reduction of the u►debtedness M :, ��=.-�---��_ --
<br /> under the Note ucd this Security Insuument. firsc to any delinquent amonnts applied in the order provided in . : ''*� •���
<br /> . paragraph 3,and then to prepayment of prinsipal. AnY application of the proceeds to the principal shall not extend or � % •' ��";.���.
<br /> postpone the due date of the monthly payments,which are refemed to in paragraph 2,or change the amount of such � � ��,�-°
<br /> payments. Any excess proceeds over an amount reqnired to pay all outstanding indebtedness under the Note and this : '�.�,�.�=,y�-.,
<br /> , ,�,., .
<br /> Security Instnunent shall be paid to[he enti:y legally entitled thereto. � .;,.��._--
<br /> 7. Cbatges to Borrower and Protedton of Lender's Rights In the Progerty. Borrower shall pay all _
<br /> governmcntal or muniCipal charges. fines and impositions that are not included in paragraph 2. Borrower shall pay ,_ ., .. - '�
<br /> � these obligations on time directly to the enury which is owed the payment. If fa�7ure to pay would adversely affect _ _ �� ._
<br /> - y.---
<br /> Lender's interest ia the Property, upon Lender's request Borrower s h a l l promp dy f u m i s h t o L e n d e r r e c e i p t s .���._„_
<br /> evidencing these payments. .' �� _ - --
<br /> � If Boaower fails to make these payments or the payments required by paragraph 2,or fails to perform any other
<br /> .• covenanu and agreemeats contained in this Security Instr�menc. or there is a legal proceed'mg that may significandy —_
<br /> affecc Lender's rights in the Property(such as a proceeding in bank►uptcy, for condemnation or to enforce laws or �: 'Y
<br /> regulations), then Lender may do and pay whatever is necessary to protect the value of We Properry aad Lendei s :',;�, �. �;-_
<br /> rights in the Properry,including payment of taxes,hazard insurance and otTaer items mentioned in paragraph 2• .. `>;..��
<br /> My amounu disbuised by I.ender under tLis paragraph shall become an additional debt of Borrower and be % _„ _
<br /> secured by this Security Instniment. These amounts shall bear interest from the date of disbursemenc, at the Nose ��'," : ti; �
<br /> rate,and at the option of Lender.shall be immediately due and payable. �� �;;` :;°' �.
<br /> Bonower shall promptly discharge any lien which has priority over this Security Instrument unless Borcower: • �;,k';,
<br /> (a) agees in writing to the payment of the obligation secured by the lien in a manner acceptable [o L e n der: (b) ;��.,•:
<br /> - cantesta in good faith the lien by. or defends against enforcement of the lien in. legal proceedings whtch in the � �:
<br /> Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the tien an . ,��•. �€
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<br />• � agreement satisfactory to Lender subordinating the lien co this Security Instrumeat. If Lender determinea tha[any part • :��•:• � '
<br /> ' of the Property ia subject to a lien which may attain priority over this Security Instrument. Lender may give •� -�* �� �
<br /> Borcower a nouce identifying the lien. Borrower shall satisfy the liea or take one or more of the actions set fotih �-�" .
<br /> ��` :.
<br /> ' above within 10 days of the giving of notice. '_ '��` � �
<br /> .:1 ---
<br /> � 8.Fees.Lender may collect fees and chazges authorized by the Secretary.
<br /> .; 9.Grounds for Accele�attan of Debt. �.-���� '
<br /> ! (a)Detault. Lender may, except as limited by regulations issued by the Secretary. in the case of payment �:��.
<br />' ` defaults,require unmediate payment in full of all sumg secured by this Security Instrument if: - "4 --
<br /> '�` (i)Borrower defaults by failing to pay in full any montlily payment required by this Securiry Instrument - ,�_��,�.�,:-
<br /> prior to or on the due date of the next monttily payment,or '`
<br /> . �:�..;::::;
<br /> ' (ii)Borrow�er defaulu by failing.for a period of thirty days,to pedarm any other obligations wntained �`` • .,�,r„ .
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<br /> (b)Sate Without Credit Approval. Lender shall,if permitted by applicable law(including Section 341(d) ° ' - ' ' .'_• �-.�
<br /> of the Gam-St. Germain Depository Institutions Act of 1982. 12 U.S.C. 1701j-3(d)) and with the prior ���-y�:,;;��;;�,;,�„-_
<br /> � approval of the Secretary.require immediate payment in full of all sums secured bY tLis Securiry Instnunent .,_,;a:,�__�_�:
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