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<br /> abandoncd Propcny. 8orrower shall also be in defauit if Borcawer, slurin� the loan appllcation proceas, gavc
<br /> materi�lly fdse or (naccurate information or stptements to Lender (or fallcd to provide Lender with any tnatcrial
<br /> informatlon) in connec�lorn with thc loan evidenced by the Note, Including, but not limited to, representatlona _
<br /> concerning Borrawer's occupancy of the Propeny as a principal residence. If this Sccurity (nstrununt is on a E -
<br /> leasehold, Borrower shdl comply with the pravi�lons of the lease. If Bonower acquircd fa title to the Property,the
<br /> leasehold and fee titic shall not bc merged unless Lender agrees to the merger in writing.
<br /> 6.Condannation,The proceeds of any award or claim for damages,dlrect or consequantial, in connxtion with
<br /> any condemnation or other taking qf any part of the Property, or for conveyana in place of condemnation, are
<br /> hereby assignat and sbdl be paid to Lcnder tu the extent e.°the full amount of the indebtedness that remalns unpaid
<br /> under the Note and this Sccurity Instrument. I.ender shall apply such proceeds to tl�e reduction of the indebtedness
<br /> under the Note and this Sauihty lnstrumcnt, first to any delinquent amoun�s applied in tlu order provided in
<br /> pazagraph 3,and then to prepayment of principal. Any application of the proceeds to the principal sball not extend or
<br /> postpone the due date of the monthly payments,which are refened to in paragraph 2, or change the amount of such
<br />- payments. Any excess prceeeds over an an�ount required to pay all outstanding indebtedness under the Note and this
<br />- Security Instrument shall be paid to the entity legally entitled thereto.
<br />- 7, ChArg� to Boreower and I'rotection of I.ender's Rights in the Property. Bonower shall pay all
<br /> govemcnental or municipal chazges, fines and impositions chat are not included in paragraph 2. Borrower shall pay
<br />_ these obligations on time directly to the entity which is owed the payment. If failure to pay would adversely affect
<br />- Lender's interest in ihe Propeny, upon L.ender's request Borrower sh�ll prompdy furnish to Lender receipts
<br /> evidencing these paymencs.
<br /> If Borrower fails to m�lce these payments ar the payments required by paragraph 2, or fails to perform any other
<br />= covenants and agreements concained in this Security Instrument, or there is a legal proceeding that may significantly
<br />- affect Lender's rights in the Propeny(such as a proceeding in bankruptcy, for condemnation or to enforce laws or
<br />' regulations), then Lender may do and pay whataver is necessary to protect the value of the Propeny and Lender's
<br /> rights in t�he Property.including payment of taxes,hazard insurance and other items mentioned in paragraph 2.
<br />= Any amounts disbursed by Lender under this paragxaph shall becomc an addlcional debt of Borrower and be
<br /> - secured by this Security Instrument. These amounts shall bear interest from the date of disbursement, at the Note
<br /> rate,and at the option of Lender,shall be immediately due and payable.
<br /> Borrower shall prompdy dischazge any lien which has priority over this Security Instrument unless Barrower;
<br /> ' (a) agrces in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b)
<br /> contests in good faitt�the IieTi by, or defends against enforcement of thc lien in, legal proceedings which in the
<br /> Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from th� holder of the lien an
<br /> agr�emcnt satisfactory to I..ender subordinating the lien to this Security Instrument.If Lender determines that any part
<br /> of the I'roperty is subject to a licn which may attain priority over this Security 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 the giving of notice.
<br /> B.Fees.l.ender may coilect fees and charges authorized by the Secrctary.
<br /> 9.Grounds for Accelerwdon ot Debt.
<br /> (p) D!(pUI�. Lender may, except as limited by regulations issued by Ghe Secretary, in the case of payment
<br /> . defaults,rcquice immediate paymeut in full uf all sums secured by this Security Instrument if:
<br /> (i) Bonower defaults by failing to pay in fuli any monthly paymen�required by this Security Instrument
<br /> prior co or on the due date of the neat monthly payment,or
<br /> (ii)Borrower defaults by failing, for a period of thirty days,to perform any other obligations contained
<br /> in this Sexurity Instrument.
<br /> (b) Sale Witlaut Credit Approval. l.ender shall, if permitted by applicable law (including Section 341(d)
<br /> of the Gam-St. Germain Depository Institutions Act of 1982, 12 U,S.C. 1701j-3(d)) and with the prior
<br /> approval of the Secretary, require immedia�e payment in full of all sums securtd by this Security Instrumcnt
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