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<br /> w,,.�•+� abandaned Property. Borrower shell alao be in default If Bocrower, during the loan application process, guve _
<br /> materially false or inaccurate information or statements to I.endr,r (or failed to provide Lender with any material =
<br /> information) in connection with tho loan evidenced by the Noce, including. but not limited to, representations _
<br /> conceming Borrower's occupancy of the Property as a principal residence. lf this Security Instrument is on a
<br /> leasehold,Borrower shall comply with the provisions of the lease. If Horrower acqutres fa title to�he Properry,the
<br /> leasehold and fee title shall nos be merged unless Lender agrees to the merger!n writing.
<br /> 6.Condemnation.The proceeds of any awazd or claim for damages,direct or cflnsequential. in connection wlth
<br /> ,, any condemnation or other taking of any part of the Property, or for conveyance in place of coademnatlon, are
<br /> ;� hereby assigned and shall be paid to Lender to the extent of the full amount of the Indebtedness that remains unpaid
<br /> ,k under the Note and this Security Instrument. L.ender shall apply such proceeds to the reduction of the indebtedness
<br /> •• � ;; under the Note and this Security Instrument, first to any detinqucnt amounts applied in the order provided in
<br /> � paragraph 3,and thea to prepayment of principal.My application of the ptaceeds to the principal s6a11 uot eatend or
<br /> �� postpone the due date of the monthly payments, which are refened to in pazagraph 2, or change the amount of such
<br /> „ .. payments. Aay excess proceeds over an annount required to pay all outstanding indebte.dness under the Note and this
<br /> •� Security Instrument shall be paid to the eatity legally entitled thereto.
<br /> 7. Charges to Borrower and Protection of Lender's Rlghts In tbe Property. Borrower shall pay all
<br /> governmental or municipal chazges, fines and impositions that aze not included in pazagraph 2. Borrower shall pay
<br /> these obligations on time directly to the�ntity which is owed the payment. If failure to pay would adversely affect
<br /> : L.ender's interest in the Property, upon Lender's request Bonower shall promptly furnish to L.ender receipu
<br /> evidencing these payments.
<br /> ; If Borrower fails to make these payments or the paymeats required by paragraph 2,or fails to perform any other
<br /> -- �—`--_— covenan[s and agrccuicids w�,iained in ihts�ccurity Instrus�ent,or there is a l�ga!pro!�ePding rhar may cignificantly
<br /> affect Lender's dghts in the Properry (such as a proceeding in bankruptcy, for condemnation or to enforce laws or
<br /> " � regulations), then Lender may do and pay whatever is necessary to protect the value of the Property and I.ender's
<br /> righu in the Properry, including payment of taxes,hazard insurance and other items mentioned in paragraph 2.
<br /> � Any amounts disbursed by Lender uuder this paragraph shall bewme an additional debt of Borrower and be
<br /> ��; secured by this Security Instrument. These amounts shall bear interest from the date of disburseraent, at the Note
<br /> rate,and at the option of Lender.shall be immediately duc and payablc.
<br /> t Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower:
<br /> •, (a) agrees in writing to the payment of the obligation secured by the lien in a menner acceptable to I.ender; (b)
<br /> � contesu in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the _
<br /> " � Lender's opinion operate to prevent the enforcement of the lien: or (c) secures from the h�lder of the lien an _
<br /> , � agrament satisfactory to Lender subordinating the lien to this Security Instrument.If I.ender determines that any part
<br /> l of the Properry is subject to a lien which may attain prioriry over this Securiry Instrument, Lender may give
<br /> Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth �
<br /> � ' above within 10 days of thc giving of noticc. --_
<br /> � 8.Fees.L.ender may collect fees and charges authorized by the Secretary. "_
<br />-. � 9.Grounds for Acceleration of Debt. 6�
<br /> (a) Default. Lender may,except as limited by regulations issued by the Secretary, in the case of payment
<br /> defaults,requirc immediate payment in full of all sums secured by this Security Instrument if: _
<br />- �`, (i)Bonower defaults by failing to pay in full any monchly payment required'oy this Securiry Instrument `;,
<br />" • prior to or on the due date of the next monthly payment,or �
<br /> , �� (ii)Bon•ower defaults by failing, for a period of thirty days, to perform any other obligations contained __
<br /> in this Securiry Instrument. �-
<br /> '� (b) Sale Without Credit Approval. Lender shall, [f permitted by applicable law(including Section 341(d)
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<br /> . ,{ of the Garn-St. Germain Depository Institutions Act of 1982, 12 U.S.C. 1701j-3(d)) a��d with the prior -;
<br /> � approval of the Secretary,require immediate payment in full of all sums secured by this Security Instrument
<br /> if:
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