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200705777 abandoned Propel'ty. Borrowel:' shall also be in default if Borrower. dm1ng the loan appllcatlon process. gave matedally false or inaccurate information or statements to Lendel:' (01:' failed to provide Lender with any material infonnalion) In connection with the loan evidenced by the Note. including. but not limited to. representations concenling BOlTower's occupancy of the Property as a pdndpal residence. If this Security Instrument is on a leasehold, Bonower shall comply with the provisions of the lease. If BOrJ:ower acquires fee title to the Propel:'ty. the leasehold and fee tttJe shall not be merged unless Lender agrees to the merger In writing. 6, Condemnation. The proceeds of any award or claim for daIDages, direct 01:' consequential, in connection with any condemnatlon or other laldng of any part of the Property. or for conveyance in place of condemnation, are hereby assigned lInd 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 :;uch proceeds to the reduction of the indebtedness under the Note and this Security Instrument. first to any delinquent amounts applted In the order pwvided in paragraph S, and then to prepayment of principal. AJiy application of the proceed'i to the pdnclpalllhall not extend or postpone the due date of the monthly payments, which aTe referred to in paragraph 2, or change the amoWlt of such payments. Any excess proceed:! over an amount required to pay all Outstanding indebtedn.....s under the Note and this Security Instrument shall be pald to the entity legally entltle.d thereto. . 7. Ch....gBll to Borrow.... a.ud PTotectlon of Lender's Rights in th" PToperty. Borrower shall pay all governmental or municipal charges, fines and Imposilions that are not included in paragraph 2. Borrower shall pay these obligations Oil time directly to the enUty which i'i owed the paymen[, If faHul'(! to pay WOuld adversely affec! Lender's interest in the Property, upon Lender's request BOJTower shall promptly furnish to Lender receipts evidencing these payments. If Borrower fails to make these payments 01:' the payments requiJ:'ed by pal'agraph 2, or faUs to perform any othel' covenants alld agreements contaIned 11l !Ids Secudty IostnJ.Il1ent, ()r there is a legal proceeding that may significanlly affect Lender's rights in the Property (such as a proceeding in bank~ptcy, for condemnation or to enforce laws or regulations). then Lender may do and pay whatever i$ necessary to protect the value of the Property and Lender's rights in the Property, inducting payment of taxes. haulrd Insurance and other items mentioned in paragnlph 2. Any amounts disbursed by Lender under this paragraph shall become aJl add1tional debt ()f Borrower and be secured by this Security Instrument. These amounts shall bear interest from the date of disbursement, l:It the Note rate, and at the option of Lender. shall be lmmedialely due and payable. Bot'cower shall promptly discharge l:Iny tien which has priority over thJs SeCUrity Instroment unless Borrower: (a) agrees in wrlUng to the payment of the obligation $ecul"ed by the lien in a manner acceptal!le t!> Lender; (b) conteslS in good faith the lien by, or defends against enforcement of the Uen In. legal proceedings which in the Lender's opln1on opeJ:ate to prevent the enforcement of the lien; or (c) secures from the holder of the lien a.n agreement sati.'lf"llctory to Lender subordinating the Uen to this Security Instnunent. If Lender determines that any part of the Property i:; subject to a lien which may attain priority over this Securil)' lnstnunent, Lender may give Borrowel" a notice identttytng the lien. Borrower shall satisty 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 autbori:l:.ed by the Secretary. 9. GroUlldll for Acceloration of Debt. (8) DetBult. Lender may, except as limited by regulations issued by [he Secretl:lry, in tbe case of payment defaults, require immediate payment In full of all 'iums secured by this Security Instrument if: (1) Borrower defaults by falling to pay in full any monthly paymen! required by this Secl1r.lty In'litrument prior to or on the due date of the next monthly payment, or (JI) Bon-ower defaults by failing, for a period of thIrty days, to perfonn any other obligations contaIned in this Securlly Instrument. (b) Sale WithOllt Credit Approval. Lender shall, If pennitte.d by applicable law (including Sectlon 341 (d) of the Gl:Irn-St. Gel:'maln Depository Institutions Act of 1982. 12 V.S.C. 110lj-3(d)) and with me prior :i:proVal of the Secretary. require iInmediate payment in filll of all SWllS secured by tbis Security Instlnt V-4N(NE:) (0'01) 01 POSO . 0' " InRI"'.~