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<br /> . j abaudoned Property. Borrower shall also be in default if Bonower, during the loan applecation process, gave : •
<br />-_-.� materially false oc inaccurate infonaation or statements to l.ender (or failed to provide Lender with auy material ` _
<br /> �? information) in connection with the loan evidenced by the Note, including, bu[ not limited to, representations � ,
<br /> � concerning Borrower's occupancy of the Prop�rty as a prinzipal residence. If this Security Instrument is on a ; , �
<br /> ' leasehold,Borrower shall comply with the provisions of the lease. If Borrower acquires fee tide to the Property,the f ' . ,�
<br /> ' •-j leasehold and fee title shall not be merged unless Lender agrees to the merger in writing. � . ,.,.,
<br /> 6.Condemnatton.The proceeds of any award or claim for damages,direct or consequentiat,in connecuon Qrith • • `
<br /> any condemnation or other taking of any part of the Progerty, or for conveyance in place of conde�nation, are , s � :"`_'� '
<br /> _ � hereby assigned and shall be paid w I.ender w the extent of the full aznount of the indebtedness that remains unpaid � _��;^:;,_•
<br /> under the Note and this Security Instrument. Lender shall apply such proceeds to the reduction of the indebtedness . ��,�.�..iz,,,��
<br /> under the Note and this Security InstrumenG -�'�-^s'- to any delinquent amounu applied in the order provided in ;..';,�:�•:•:..:;
<br /> ' paragraph 3,and then to prepayment of principal. Any application of the proceeds co the principal shall not extend or � . ; ��,;:.: _
<br /> postpone the due date of the montl�ly gayments, which are referred to in paragraph 2,or change the amaunt of su�h , ` , � -
<br /> ����_ .. f•_`�s:,
<br /> paymenu. Any excess proceeds over aa amount required to pay all outstanding indebtedness under the Note and this � ��, �_,
<br /> . Security Instrument shaU be paid to the entiry legally entided thereto. ' �; .`�
<br /> 7. C6arges to Borrower and ProtecGton of Lender's Rights in the Property. Borrower shall pay all ..• , `
<br /> :���^..
<br /> governmental or municipal chazges, fines and impositions that are not included in paragraph 2. Borrower shall pay : :�'_?",,��.__.
<br /> � these obligations on time direcaly to the entity which is owed the payment. If failure to pay would adversely affect ..
<br /> `�•a Lender's interest in the Praperty, upon L.ender's request Borrower shall promptly furnish to Lender receipts , �'°.��.; "
<br /> � evidencing these payments. , : '�i�:;
<br /> If�oaower fails to make these a ents or the a enu b ara h 2,or fails to erform an other i .,
<br /> P Ym P Ym recluired Y P �P P Y -- :,` � �
<br /> covenants and agreemenu contained in this Security Insuument,or there is a legal proceeding that may sigaificantly - _ •�`� � �
<br /> - affect Lender's righu in the Property(such as a proceeding in bankruptcy, for condemnation or to enforce laws or •� �� �`` �- �
<br /> regulaaons}. then Lender may do and pay whatever is necessary to protect che value of the Property and Lender's . ` ��}: � •
<br /> .r. *.. `�?;, .
<br /> � righu in the Properry,including payment of taxes,hazard insurance and other items menaoned in paragraph 2. ; � ;_
<br /> Any amounts disbwsed by I.ender wuder this paragraph shall become an additional debt of Bonower and be t"'�"• •���
<br /> secured by this Security Instmment. These amouats shall bear interest from the date of disbursement. at the Note ` �' �, �
<br /> ' '-.. • . ' ` ; .
<br /> � rate,and at the oprion of I.ender.shall be immediately due and payable. ��� " � .
<br /> Borrower shall promptly dischazge azry lien which has priority over this Security Instruinent unless Boaower. . }.
<br /> (a) agees in writing to the payment of the obligation secured by the lien in a manner acceptable to I.ender; (b) r � �:
<br /> contests in good Laith the lien by, or defends against enforcement of the lien in, legal proceedings which in the . �. ���,_-_
<br /> . of the lien• or e secures from the holder of the lien an ~��-•����'
<br /> I.ender's opinion operate to prevent [he enforcement , < ) ,�,p���
<br /> . . � agreement satisfactory to Lender subordinating the lien to this Securiry Instrument.If Lender determines that any part ; �.r, � _
<br /> ,�F ' -
<br /> • •i of the Property is subject to a lien which may attain priority over this Security Instrament, I.ender may give ,-�.;
<br /> , Bonower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set fortb -- -�— -�
<br /> ..Y�_�..��
<br /> � above within 10 days of the giving of notice. �� � "����
<br /> ..n .y��._._ ..
<br /> 8.Fee.s.Lender may wllect fees and chazges authorized by the 5ecretary. ;. �
<br /> 9.Grmmds for Acceleration of Debi. "°''""sM��
<br /> ��' (a) Defauit.Lender may. except as limited by regulations issued by the Secretary, in the case of payment .: -
<br /> .-.:�: w°f�•,ts,za;,;e immediate payment in full of all sums secured by this Security Instnunent if: '''� �� .-�s,�=
<br /> ` (i)Borrower defaults by failing to pay in fu11 any monthly payment required by this Security Insuument °""�`�""'�`'
<br /> �r�=�:
<br /> prior to or on the due date of the next monthly payment,or �` ��`��
<br /> �Rr'r.
<br />� (ii)Borrower defaults by failin�,for a period oi thirry days,to perform any other obligations contained _..- :4.-. _ .; . •
<br /> . . in this Securiry Iastrument. �'�`-��'�~-'���_�'''•_
<br /> (b)Sale dVithout Credjt Approvel. Lender shall, if permitted by applicable law(including Section 341(d) • . —
<br /> of the Garn-St. Germain DeQository Institutions Act of 1982. 12 U.S.C. 1701j-3(d)) and with the prior .' •• • -
<br /> . approval of the Secretary,rec{uire immecliate payment in full of all sums secured by this 5ecurity Instrument • : .
<br /> . if: . ' . , .
<br /> �R[NEl tssosi.oi pago 4 of 8 , u,�y,:Q . ' .
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