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��14��133 �onveyance in lieu of condemnation, and �2} any dama�e to the Mnrtgaged Property caused by go�ernmenta�action that does not r�sult in a condemnation. (b� A1� awards of compensation in connectian with condemnation for public use of ar a taking of any of the Mortgaged Proper�y shall be paid to Lender to he applied �l�ta fees, casts and expenses (includ�ng reasonable attorneys fees� incurred by L�nder; and ��}t�the amnunt due under the N�te secured hereby in �i} amounts equal to the n�xt maturing installment�r installments of principal and�ii�with any balance to be credited to the next paymer�t due under the N�te. After payment to Lender of alI fees, costs and expenses �including reasona�le attorneys fees� incurred by Lender under this Section 2�, all awards�f damages in c�nnection with any condemnation for pub�ic use af or damage ta the Martgaged Proper�y, shall �e paid to Lender to�e applied to an a�count held for and on b�half of Borr�wer, which account shall, at the option of Lender, �ither be applied to the amount due under the Note as specified in the preceding sentence, or be disbursed for the restoratiar�. Nn amount applied to the reduction of th�principal amount due in accordance with this Sectian 2��b) shall be considered an aptional prepaymer�t as the term is used in this Security Instrument and the 1�1ote secured hereby, nor � re�ie�e Barrower from makin�regular monthly payments commen��ng on the first day of the first month following the date of receipt of the award. Lender is hereby autharized in the name of Borrower to e�ecute and deli�er ne�essary releases ar appravals or to appea� from such awards. �1. TRANSFERS �F THE Mt]RT�AGEI� PR�PERTY �R INTERESTS IN B�RR�3WER. �a} So lang as the Loan is insured or held by HUD, un�ess p�rmitted by Program �bligations, Borr�wer shall nat canvey, �.5S1�I7,transfer, p�edge, hypothecate, encumber or atherwise dispose of the Mortgaged Property or any interest therein or permit the con�eyance, assignment or transfer of any interest in Barrawer�if the effect of such con�eyance, assignment �r transfer is the creatior�or elimination of a Principal�unless permitted by Program �bligatians. Borrower need not obtain the prior written appro�al of HL]D for: (i� conveyance af the Mortgaged Property at a judicial or r�on jud�cial foreclosure sa�e under this S�curity Instrument; (ii} inclusion�f Martgaged Property in a hankruptcy estate by aperation of law under the Ur�ited States Bankruptcy Code; (iii}ac�uisition of an interest by inheritance or by court decree, ar�iv} other transfers permitted by Program �bligations. (b} If the Loan is no longer insured or held by HUD, Borravver shall not c�n�ey, assign,transfer,pledge,hypothecate, encumber ar otherw�se dispase of the Martgaged Praperty or any interest therein or permit the conveyance, assignment or transfer of any inter�st in Barrower vvithout the prior written appro�al of Lender in its sole discreti�n. Z2. EVENTS �F DEFAULT. The occurren�e af any one or more of the fallowing shali constitute either a"Mvnetary E�ent of Default"or a"��enant E�ent of Default"under this S�curity Instrument: �a� Monetary Event of Default: Any fa�lure l�y Borrower to pay or deposit when due any amount required by the Note or S�ction 7�a� or(b�of this Security Instrument. Pr��ious�ersions obsolete Pa�e 25 of 4� fvrm HUD-94��-�RCF{Re�.D3113}