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2�v�.�0596 � LOAH #� HQ112096053 provisions ofthe lease. If Borrower acquires feetitle to the Property, the leasehold and fee tiUe shall not be merged unless Lender agrees to the merger in writing. 6. Condemnatlon. The pr�eeds of any award or claim for damages, direct or consequential, in connection with any condemnation or othertaking of any part of the Property, orfor conveyance in plsce of condemnation, are hereby assigned and shall be paid to Lender to the extent of the iull amount of the Indebtedness that remains unpaid under the Note and this Security Instrument. Lender shall apply such proceeds to the reduction of the indebtedness under the Note and this Security Instrument, flrst 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 shall not extend or postpone the due dete of the monthly payments, which are referred to in paragraph 2, or change the amount of such payments. Any excess proceeds overan amount required to pay all outstanding indebtedness under the Note and this Security Instrument shell be paid to the entity legally entitled thereto. 7. Charges to Borrower and ProtecUon of Lender's Rlghts in the Property. Borrower shall pay all govemmental or municipal charges, fines and impositions that are not included in paragraph 2. Borrower shall pay these obligatlons on �me direcUy to the entity which is owed the payment. ff failure to pay would adversely affect Lender's interest in the Property, upon Lender's request Borrower shall prompUy tumish 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 Instrument, or there is a legal proceeding that may sign'rficanUy affect Lender's rights in the Property (such as a proceeding in bankruptcy, for condemnaUon orto enforce laws or regulations), then Lender may do and paywhatever is necessary to protect the velue of the Property and Lender's righis in the Property, including payment of taxes, hazard insurance and other ftems mentioned in paragraph 2. A►1y amounts disbursed by Lender under this paragraph shall become an additional debt of Borrower and be secured by this Security Instrument. These amounts shall bear interestfrom the date of disbursement, at the Note rate, and at the option of Lender, shall be immediately due and payable. Borrower shall promptiy discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writlng to the payment ot the obligation 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 ofthe lien an agreement sa6sfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a Ilen which may attain priority over this Security Instrument, Lender may give Borrower a notice identiTying the lien. Borrower shali saUsiy the lien or take one or more of the actions set forth above within 10 days of �e giving of notice. S. Feea Lender may collect fees and charges authorized by the Secretary. 9. Grounds for AcceleraUon of Debt (a) Default Lender may, except as limited by regula�ons issued by the Secretary, in the case of payment defaults, require immediate payment in iull of all sums secured by this Security Instrument 'rf: (i) BorrowerdefaultsbyfailingtopayiniuilanymonthlypaymentrequiredbythisSecurity Instrument prior to or on the due date of the next monthly payment, or (fi} Borrower defaults by failing, for a period of thirty days, to pertorm any other obUgaUons contained in this Security Instrument. (b) Sale Without Credit Approval. Lender shall, if permitted by applicable law (including Section 341(d) of �e Gam-St. Germain Depository Institutions Act of 1982, 12 U.S.C. 1701 j- 3(d}} and with the prior approval of the Secretary, require immediate payment in full of all sums secured by this Security Instrument if: (i) All or part of the Property, or a beneficial interest in a trust owning sll or part of the Property, is sold or othervuise trensferred (other than by devise or descent), and (ii) The Property is not occupied by the purchaser or grantee as his or her principal residence, or the purchaser or grantee does so occupy the Property but his or her credit has not been approved in accordance with the requirements of the Secretary. (c) NoWalver.IfcircumstancesoccurthatwouldpermitLendertorequireimmediatepeyment in iull, but Lender does not require such payments, Lender does not waive its rights with respect to subsequent events. (d) RegulaUons of HUD Secretary. In many circumstances regulations issued by the Secretary will limit Lender's rights, in the case of peyment defaults, to require immediate payment in full and foreclose 'rf not paid. This Security Instrument does not authorize acceleration or foreclosure 'rf not permitted by regulstions of the Secretary. (e) Mortgage Not Insured. Borrower agrees thet 'rf this Security Instrument and the Note are not determined to be eligible for insurance under the National Housing Act within 60 days from the date hereof, Lender may, at its option, require immediate payment in iull of all sums secured by this Security Instrument. A written statement of any authorized agent of the Secretary dated subsequent to 60 days from the date hereof, declining to insure this FHA Nebreske Deed ot Truet - 4/s6 Zaitials � D� online Documerrts, Inc. Pege 4 Of 7 NEEFHADE 11oa