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201300022 damage or substantially change the Property or allow the Property to deteriorate,reasonable wear and tear excepted.Lender may inspect the Property if the Property is vacant or abandoned or the loan is in default. I,ender may take reasonable action to protect and preserve such vacant or abandoned Property. Borrower shall 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 Borrower'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 agrees to the merger in writing. 6. Condemnation. The proceeds of any award or claim for damages,direct or consequential. in connection with any condemnation or other taking of any part of the Property,or for conveyance in place of condenmation, are hereby assigned and shall 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 shall apply such proceeds to the reduction of the indebtedness under the Note and this Security Instrument, 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 shall 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 Instrument shall be paid to the entity legally entitled thereto. 7.Charges to Borrower and Protection of Lender's Rights in the Property. Borrower shall pay all governmental or municipal charges,fines and impositions that are not included in Paragraph 2.Borrower shall 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 shall 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 Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property(such as a proceeding in bankruptcy, for condemnation 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 Instrument. These amounts shall bear interest from the date of disbursement at the Note rate,and at the option 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 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 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 Borrower a notice identifying the lien. Borrower shall 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 Debt. (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 all 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 date of the next monthly payment,or (ii)Borrower defaults by failing,for a period of thirty days,to perform any other obligations contained in this Security Instrument. (b)Sale Without Credit Approval. Lender shall,if permitted by applicable law(including section 341(d) of the Gam-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 the sums secured by this Security Instrument if: (i)All or part of the Property,or a beneficial interest in a trust owning all or part of the Property.is sold or otherwise transferred(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)No Waiver. If circumstances occur that would permit Lender to require immediate payment in full,but Lender does not require such payments,Lender does not waive its rights with respect to subsequent events. (d)Regulations of HUD Secretary. In many circumstances regulations issued by the Secretary will limit Lender's rights,in the case of payment defaults, to require immediate payment in full and foreclose if not paid.This Security Instrument does not authorize acceleration or foreclosure if not permitted by regulations of the Secretary. (e)Mortgage Not Insured. Borrower agrees that if this Security Instrument and the Note are not determined to be eligible for insurance under the National Housing Act within 90 Days from the date hereof,Lender may, at its option require immediate payment in full of all sums secured by this Security Instrument. A written statement of any authorized agent of the Secretary dated subsequent to 90 Days from the date hereof,declining to insure this Security Instrument and the Note.shall be deemed conclusive proof of such ineligibility. Notwithstanding the foregoing, this option may not be exercised by Lender when the unavailability of insurance is solely due to Lender's failure to remit a mortgage insurance premium to the Secretary. 10.Reinstatement. Borrower has a right to be reinstated if Lender has required immediate payment in full because of Borrower's failure to pay an amount due under the Note or this Security Instrument.This right applies even after foreclosure proceedings are instituted.To reinstate the Security Instrument,Borrower shall tender in a lump sum all amounts required to bring Borrower's account current including,to the extent they are obligations of Borrower under this Security Instrument, foreclosure costs and reasonable and customary attorney's fees and expenses properly associated with the foreclosure proceeding. Upon reinstatement by Borrower,this Security Instrument and the obligations that it secures shall remain in effect as if Lender had not required immediate payment in full. Ilowever. Lender is not required to permit reinstatement if: (i)Lender has accepted reinstatement after the commencement of foreclosure proceedings within two years immediately preceding the commencement of a current foreclosure proceeding, (ii) 16256.CV(9.111 907971 Page 3 01'5 GOTO100249 9 t r