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200801986 abandoned Property. Borrower shall also be in default if Borrower, during the loan application process, gave materially false or inaccurate information or statements to Lender (or failed to provide Lender with any material information) in connection with the loan evidenced by the Note, including, but not limited to, representations concerning Borrower's occupancy of the Property as a principal residence. If this Security Instrwnent is on a leasehOld, Borrower shaH comply with the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and fee title shall no~ be merged unless Lender agrees to the merger in writing. 6. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or othet taking of any part of the Properry, or for conveyance in place of condemnation, are hereby assigned and shall be paid ro Lender to the extent of the full amount of the indebtedness that remains unpaid under the Note and this security Instrument Lender shall apply such proceeds to the reduction of the indebtedne$s lWder the Note and tl:tis Security InstroInent, fitst to any delinquCDt lIIIlOunts applied in the order provided in paragraph 3, and then to prepayment of principal. AD.y application of the proceeds to rhe principal shall not extend or postpone the due date of the monthly payments, which are referred. to 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 thiB Security Inst:rument shall be paid to the entity legally entitled. thereto. 7. Chaxoges to BOlTOWec and Protection of Lender's Rights in the Property. Borrower shall pay all governmental or municipal charges, fines and impositions that are not included in paragraph 2. Bon-ower shall pay !hese obJitations on rime directly to the entity which is owed the payment. If failure to pay would adversely affect Lender's interest in the Property, upon Lender's request Borrower shall Promptly furnish to Lender receipts evidenCing these payments. If Bonower fails to make these payments or the payments required by paragraph 2, Qf fails to perform any other covenants and aiIeexnents contairted in this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceedi.rtg in banknlptcy, for condemnation or to enforce laws or regulations), then Lender may do and pay Whatever is necessary ro protect rhe value of the Property and Lender's rights in the Property, inCluding paym.ent of taxes, hazard insw'ance ~d other items mentioned in paragraph 2. Any amounts disbursed by Lender 1iI1der this paragraph shall become an additional debt of Borrower and be secured by this Sccurity Insttu.tnent. These amounts shall bear interest from the date of disbursement, at the Not~ fme, and at the option of Lender, shall be hnmediately due and payable. Borrower sball promptly discharge any lien which has priority over this Security Instrument unless Bonower: (a) agrees in writing to the payment of the Obligation secured by tbe lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal ptoc.eedings which in the Lendet's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender S\lbordinating the lien to this Security Instrument. If lender determines that any part of the Property is subject to a lien whicb may attain priority over !his Secu:dry Instrument, Lender ;may give Borrower a notice ideI1tifying the lien. Borrower shall sarisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. S. Fees. Lender:may collect fees and charges authorized by the Secretary, 9. Grounds tor Aa:eleration of Oebt. (a) Default. Lender may, except as limited by regulations issued by the Secretary, in the case of payment defaults\ require immediate paymenr in full of all sum.s secured by this Security lnstruml;!I1t if: (i) Borrower defaulrs by failing to pay in full any monthly payment required by this Security Instrument prior ro or on the due date of the next monthly payment, or (ii) Borrower defaults by failing, for a penod of thirty days, to perform any other obligations contained in this Securiry Instrument. (b) Sale Without Credit Approval. Lender shall, if permitted by applicable law (including Section 341(d) of the Garn-St. Gennain Depository Instirutions Acr of 1982, 12 U.S.C. 1701j-3(d)) and wirn the priOt approval of the Secretary, require innnediate payment in full of all sums secured by this Securiry Instrument if: _4RCNE) (9801) P~S40fB Inillsl&: {Y\ r: c5: