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200602366 abandoned Property. Borrower shall also be in. default if Botrower, during the Joan applicatio.ll process, gave mattrially false or inaccurate information or statements to Lender (0. failed to provide l.ender with .any material infonnation) in connection with the 10ar:J. evidenced by the Note, im:luding, but not limited. to, representations cQncerning Borrower's OCCUplUJcy of the Property as 3 principal residence. If this Seeurity Instrument is on a leasehold, Borrower shall cl'lmply with the provisions of the lease. If Borrower acquires fee ti.tle to the Property, the leasehold and ftt;! title shall not be merged unless Lender agrees to the merger in writing. 6. Cond~alion. The proceeds of any award or claim for damages, direct or consequenlial, in connection with any conderrmatlon or other taking of any part of the Property. or for conveyance in place of condemnation. are hereby assigned and shall be paid to Lender to the extent of tbe fl111 amount of the indcbl~ne:'is 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, lirst 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 $.,,,11 not extend or postpone the due da,te of the monthly payments, which are referred lO in paragraph 2, or change the amount of such payments. Any excess proceeds over an amount required to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity legally entitled thereto. 1. Charges to Borrow~r' aDd Protf!Ction of Lender's Rights in the: Property. Borrower shall pay all governmental or municipil charges, fines and impositjons that are not included in paragraph 2. Borrower shall pay these obljgations on little directly to tbe entity which is owed lhe payment. If fallure to' pay would adversely affect Lender's interest in the Property, upan Lcnd~t'$ request Borrower shall promptly furnish to Lender receipts evidencing these paymen~. If Borrower fails to make these payments or the payments requited by paragraplJ :2, or fails to perform any olher covenants .and agreements contained in this Security Instrument, or there is a legal prQcerxling that may significantly affect .Lender's rigbts in the Pl:"Qpli!ny (such 35 a proceeding in bankruptcy. for condemnation or to enforce laws or regulations), then Lender may do and pay whatever is necessary to protect the "all).$ of the Property and lender's tights in me PfQpeny, including payment of taxes, hazard insurance and olher items mentioned in paragraph 2, Any amounts disbursed by Lender under this par.lgraph shall become an additional debt of Borrower and be secured by this Security Instrument. These amounts shall bear interest from the date of disbl,ll:sement, at the Notc rate, and at the option of lender, shall be immediately due and payable. Borrower shall pramptly djschar.ge any Hen which has priority !;Wer this Security Instrument unless Borrower: (a) agrees in writir,lg to the payment of the: obligation .secured by [be lien in a m~nner acceptable to under; (b) contests in gaod faith the lien by, or defends against enforcement of the lien in. legal proceedings which i.n lhe Lender's opinion operate to prevent the enfarcement of the lien; or (c) secures from the holder of the lien an agreement sati$factory [0 l.exJder subordinating the lien to this Security Instrument. If Lender detenmnes tbat any part of the Property is subject to a lien wbJch may aUain priority over this Security Instrument. Lender may give 8orrt:lwe:r a notice identifying the lien. l3ofTower shall satisfy [he lien or take One or more of the actians set farth above within 10 days of the giving of notice. S. Fees. Lender may collect fees and charges authorized by the Secretary. 9. Grounds tor Acc:c:leratiOtJ of Debt. (a) Default. ~nder may. e;x.cept as limited by Tt'Jgl,llatians issued by the Secretary, in the case of payment defa.ults, require immediate payment in fulJ of all sums secured 1)y this Security Instrument if: (i) Borrower defaults by failing to pay in full any monthly paymem required by this SecurHy Instrument prior to or on the due date of the next monthly payment, or (ii) Borrower default$ l;Iy failing, for a period of thiny days, [a perfonn any other obligations contained in this SecurilY Instrument. (b) Sale Without Credit Approval. lender shall, if pennitted by applicablt" law (including Section 341(d) or the Garn~St. Germain Depository Institutions Act of 1982, 12 U.S.C. 170Ij~3(d)) and with the prior approval of the Secretary, require inunediale payment in full of aU sum~ secured by this Security Instrument if: 4I!\-4RINEI19601, "'11'1 4 0' EI r- - Ir1lull1.:LC 03/15/2006 8:43AM (GMT-06:00)