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<br /> abandoned Property. Borrower shall also be in default if Borrow�r, dwing the loan applicacion proce�. gave � � . ,_
<br /> _ materially false or inaccunte information or statements to l.ender(or failed to provide Lender with any material —
<br />`.� information) in connection with the loan evidenced by the Note, including, but aot limited to, representations , . . `-�
<br /> conceming Sorrower's occupancy of the Property as a principal residence_ If this Security Instrument is on a � �
<br /> leasehold,Bosrower shall comply with the provisions of the lease. I f Borrower acguires fee r i d e t o t h e!'r o p e rt y, t h e , . _
<br /> leasehold and fee tide shall not be merged imtess 1�nder agrees to the merger in writing. • . : ��:�.
<br /> 6.Condfmnation.The proceeds of any award or claim for damages,direct or consaquentiai,in connection wich . =:�-' �; __
<br /> any condemnation or other taking of any part of the Property, or for conveyance in place of condemnation, are . � • '• .� ;� • �_.
<br /> hereby assigned and shall be paid to Lender to the extent of the tull amount of the indebtedness that remains unPaid _"'-r'�?"�`__
<br /> under the Note and this Security Ins[rument. Lender shall apply such proceeds to the reduction of the indebtedness ����
<br /> under the Note and this Security Instrument, first to any delinquent amounts applied in the order provided in ;���__
<br /> paragraph 3,and then to prepayment of principal• AnY aPPlication of the proceeds to the PrinciPal sha11 not extend or �� ::-.,.�--:.�
<br />. poscpone the due date of the monthly payments, which are refened to in paragraph 2.ar change the amount of such ,. �.=,�._:_�=
<br /> paym�uts, pny e�ccess pmceeds over an amount required co pay all outstanding indebcedness under the Note and this ; ,,�.,, . . .„
<br /> Serurity Instrument shall be paid to the entity legally enciiled thereto. � ` �='�~
<br /> 7. Charges to Borrower and Protertion of Lender's Rights in the Property. Borrower shall pay a11 �'�;�,$;.� .
<br /> t
<br /> govemmental or municipal chu'ges. fines and imposirians that are not included in paragraph 2. Borrower shall pay •• ���.
<br /> ;�� these obligations on time directly to the entity which is owed the payment. lf failure to pay would adversely affect r.'
<br /> Lender's intetest in the PropenY, upon Lender's request Borrower shall promptly fumish to Lender receipts -�-�-"__
<br /> evidencing these payments. , ✓; , ;'r -
<br /> ��� If Borrower fails to make these payments or the payments required by garagraph 2,or fails to perform any other ., 4 ,'. j�:^.
<br /> covenants and agreemenu contained in this Security Instn►ment,or there is a legal proceeding that may significandy .,..,.-t.�
<br /> affect Lender's rights in che Propercy (such as a praceeding in bankruptcy, for condemnatioa or to eaforce laws or . •• � ..��'
<br /> regulations), then I.ender may do and pay whatever is necessary to protea the value of the Property and Lender's .,;�- � � " ,�::;;; '�_; .
<br /> rights in the Property,incl¢ding payment of taxes.hazard insurance and other items mentioned in paragraph 2. �,��,�`,�, .
<br /> • °f5.:��
<br /> ,0.ny awonau disbucsed by Lender under this paragraph shall become an addiaonal debt of Borroaer aad be Q � .
<br /> secured by this Security Inscmment• These amounts shall bear interest from the date of disbursement, at the Note �� .;} r
<br /> rate,and at the option of l.ender,shall be immediately due au d pay a b le. ; + ' � _
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<br /> Borrower shall prompdy discharge any lien which has prioriry over this Se�unty Instrument unless Borrower. _ •:�..; �•, ..
<br /> . (a) agrces in writing to the payment of the abligation secured by the lien in a manner acceptable to Lender; (b) �
<br /> � ' ,;.. _
<br /> contests in good faith the lien by, or defends against enfotcement of the lien in, legal proceedings wLich in the , : �f �'
<br /> I,ender's opinion operate to prevent the enforcemenc af the lien; or (c) secures from the holder of the lien an . :„�>, .... ;,;� -T
<br /> agreemen[saasfactory to l.ender subordinating the lien to this 5ecurity Instrument.If Lender determines that anY Parc , � ' '�
<br /> • of the Properry is subjecx to a 1{en which may attain prioriry over this Securiry Instniment. I.ender may give ,���,;�- ' �:�r� '
<br /> Borrower a notice identifying the lien. B oa�wer s h a l l sa tis f y t he l i e n or take one or mora of the actions set forth - , _
<br /> above within 10 days of the giving of notice. ' '��.-_
<br /> 8.Fees.l.ender may collect fees and charges authorized by the Secretary. � �,p•:��v�s..-
<br /> 9.Grounds[�r Accelerntton ot Debt. -•-� � . -
<br /> � (a)Detault. Lender may, excepi as liauted by regulations issued hy the Secretary.in the case of payment �..��-�_�_
<br /> •^„�__°,._t�_:_ti_
<br /> defaulu.require immediate payment in fiill of all sums secured by this Security instmment if: �.
<br /> �• (i)Borrower defaults by failing to pay in full any monthly payment required by this Security Insmunent ,. ,�,.�"""`
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<br /> rior to or on the due date of the next monthly payment,or '. ��`,'--'-!
<br /> _ (iil Borrower defaulu by failing.far a period of thirty days.to pe r form any o t her o b liga tions w n t a i n e d :��;,,,�:
<br /> in this Securiry lnstrument.
<br /> �.�-._..-, ys�,a4-.
<br /> (b)Sale Without Credit Approval.Lender shall. if permitted by applicable law(including Section 341(d) ���-.
<br /> of the Gam-St. Gemiain Depository Institutions Act of 1982, 12 U.S.C. 1701j-3(d)) and with the priar -_„e��;,=.-�__=
<br /> � approval of the Secretary.require immediate paymcmt in full of all sums secured by this Security lnstniment , ,���`
<br /> if: _��:��'�-++'`��`-"�
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