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' � �f ��'�:�� 20�203�:� � �,01106254 • abandoned Property. Boirower sha11 also be in default if Borrower, during the loan application process, gave materially false or inaccurate information or statements to Lender (or failed to provide Lender with any material information) in connection with the loan evidenced by the Note, including, but not limited to, representations concerning Bonower' s occupancy of the Property as a principal residence. If this Security Instrument is on a leasehold, Borrower shall comply with the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and fee title shall not be merged unless Lender agr�s to the merger in writing. 6. Condemnation. The proceeds of any award or claim for damages, direct ar consequential, in connection with any condemnation or other taking of any part of the Property, or for conveyance in place of condemnation, are hereby assigned and sha11 be paid to Lender to the extent of the full amount of the indebtedness that remains unpaid under the Note and this Security Instrument. Lender sha11 apply such proceeds to the reduction of the indebtedness under the Note and this Security Instnunent, first to any delinquent amounts applied in the order provided in paragraph 3, and then to prepayment of principal. Any application of the proceeds to the principal sha11 not extend or postpone the due date of the monthly payments, which are referred to in paragraph 2, or change the amount of such payments. Any excess proceeds over an amount required to pay all outstanding indebtedness under the Note and this Security Insixument sha11 be paid to the entity legally entitled thereto. 7. Charges to Borrower and Protection of Lender's Rights in the Property. Borrower sha11 pay a11 governuuental or municipal charges, fines and imposirions that are not included in paragraph 2. Borrower sha11 pay these obligations on time directly to the entity which is owed the payment. If failure to pay would adversely affect Lender' s interest in the Property, upon Lender' s request Borrower sha11 promptly furnish to Lender receipts evidencing these payments. If Borrower fails to make these payments or the payments required by paragraph 2, or fails to perform any other covenants and agreements contained in this Security Inshvment, or there is a legal proceeding that may significantly affect Lender's rights in the Properiy (such as a proceeding in bankruptcy, for condemnarion or to enforce laws or regulations), then Lender may do and pay whatever is necessary to protect the value of the Property and Lender's rights in the Property, including payment of taxes, hazard insurance and other items mentioned in paragraph 2. Any amounts disbursed by Lender under this paragraph shall become an additional debt of Borrower and be secured by this Security Insirument. These amounts sha11 bear interest from the date of disbursement, at the Note rate, and at the oprion of Lender, shall be immediately due and payable. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligarion secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender' s opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Boirower a notice identifying the lien. Borrower sha11 satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. 8. Fees. Lender may collect fees and charges authorized by the Secretary. 9. Grounds for Acceleration of Deb� (a) Default Lender may, except as limited by regulations issued by the Secretary, in the case of payment defaults, require immediate payment in full of a11 sums secured by this Security Instrument if (i) Borrower defaults by failing to pay in full any monthly payment required by this Security Instrument prior to or on the due da.te of the next monthly payment, or (u) Borrower defaults by failing, for a period of thirty days, to perform any other obligarions contained in this Security Instiument. (b) Sale Without Credit Approval. Lender sha11, if permitted by applicable law (including Section 341(d) of the Garn-St. Germain Depository Institutions Act of 1982, 12 U.S.C. 1701j-3(d)) and with the prior approval of the Secretary, require immediate payment in full of all sums secured by this Security InstruYnent if: 11-,06-000164 Initials:_�� V �-4N(NE) �aaa�) Page 4 of 8 �