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200808377 abandoned Property. Borrower shall also be in default if Borrower, during the loan application oroeess, gave materially false or inaccurate infonnation or statements to Lender (or tailed to provide Lender with any material information) in ~nnection with the loan evidenced by the Note, including, but nOl limited to, representatiOIl5 concenting Borrower's occupancy of the Propetty as a principal residence. If this Security Instrument is on a leasehold, Borrower shall comply with the provisions of the lease. If Borrower acquires fee tiUe to the :Property, the leasehold and fee title shall not be merged unless Lender agrees to the merger in writing. 6. CondemIllltion. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taldng of any part of the Property, or for conveyance in place of condemnation, are hereby assigned and shall be paid to Lendu to the extent of the full amount of the indebtedness that remains unpaid under me Note and this Security InstruJnellt. Lender shall apply ~h proceeds to the reduction of the indebtedness under the Note and this Security In&trument, first to any delinquent amounts applied in the order provitlecl in paragraph 3, and then to prepayment ofpJincipal. Any application of the proceeds to the principal shall not extebd or postpone the due date of the monthly payments, which are referred to in paragraph 2, or ch~e the amoWlt of such p,-yments. Any ex.cess 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. 7. Cha~es to Borrower and Protection of Lender's Rights in the ProPerty. Borrower shall pay all governmental or municipal charges, fmes and impositions that are not included in paragraph 2. Borrower shall pay these obligations on time diXtttly to the entitY which is owed the payment, If failure to pay would adversely affect Lendet'$ huerest in the Property, upon Lender's teq11e$t llorrower shall promptly furnish to Lender receipts evidencing these paym.ents. If Borrower fails to make these payments or the payments required by paragraph 2, or fails to petfonn any other covenants and agreements contained in this Security Im;troment, or there is a legal proceeding that may significantly affect Lender's rights in the PropertY (such as a proceeding in bankruptcy, for condemnation or to enforce laws or regulations), then Lender may do and pay whatever is necessary to protect the value of the Property and Lender's: rights: in the Property, oocludinJ;!: payment of taxes, hazard insurance and other items mentioned in paragraph 2. Any amounts disbursed by Lender under this paragraph shall 'become an additiOnal debt of Borrower and be set..-ureQ by this: Security InstJ:UtDent. These amounts .shall bear interest from the date of disbursement, at the Note rate, and at the option of Lender, shall be immediately due and payable. Borrower shall promptly d.ischarge any Hen which ha.s priority over this: Security InsrrumelU unless Borrower; (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien. in, lega.l, proceedings which in the Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an ~en~ satisfactoxy to Lender subordinating the lien to this: security Instrument. If Lender determines th8.t any part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a notice identifying the Hen. Borrower shall satisfy the lien or take one Ot more of the actions set forth above within 10 days ofllie SivinS of nonce. 8. Fees. Lender may collect fees and charges authorized by the Secretary. 9. GrolInds for Acceleration of Debt. (8) Default. Lender may, except as limited by regulations issued by the Secretary, in the case of :payment defaults, require immediate payment in full of all sums secured by this Security Instrument if: (i) Borrower defaults by failing to pay in full any monthly payment required by this Security Wttu.n1eIl.t prior to or on the due date of the nex.t mOl1.lh1y payment, or (ii) Borrower defaults by failing, for a period of thirty days, to perfonn any orher Obligations contained. in this Security Instrument. (b) Sale Without Credit Approval. Lender shall, if pennitted by applicable law (including Section 34l(d) of the Garn-St. Germain Depository Institutions Act of 1982, 12 U.S.C. 1701j-3(d)) and with the prior approval of the Secretary, requite inwediate paym.en~ in full of all sums S(ll..'Ured by this Sec..'Urity Instrument if: Gl\4RINEI196011 paoe .. or B lrutial"'~