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200902768 abandoned Property. Borrower shall also be in default if Borrower, ~uring the loan application process, gave materially false or inaccurate information or statements to Lender (or ~ailed to provide Lender with any material informat. . ion) in connection with the loan evidenced by the Note, inc~'uding,but not limited to, representations concerning Borrower's occupancy of the Property 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 title to the Property, the leasehold and fee title shall not 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 cond~nation or other ~ of any part of the Property, or for fonveyam: in place of ~ion, ~ hereby 8SS1gned and shall be paid to Lender to the extent of the full amopnt of the indebtedness that remams unpaid under the Note and this Security Instrument. Lender shall apply such PI'9ceeds to the reduction of the indebtedness under the Note and this Security Instrument, flI'St to any delinquent ~unts applied in the order provided in paragraph 3, and then to prepayment of principal. Any application of the froceeds to the 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 outstaP.ding indebtedness under the Note and this Security Instrument shall be paid to the entity legally entitled thereto. I 7. Charges to Borrower and Protection of Leodor'. Rights in the Property. Borrower shall pay all governmental or municipal charges, tines and impositions that are not inbtuded in paragraph 2. Borrower shall pay these obligations on time directly to the entity which is owed the pa~t. 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. i If Borrower fails to make these payments or the payments required br paragraph 2, or fails to perform any other co. venants and agreements contained in this. Security Instrument, or there~ a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in bankrup ,for condemnation or to enforce laws or regulations), then Lender may do and pay whatever is necessary to pro t the value of the Property and Lender's rights in the Property, including payment of taxes, hazard insurance and other items mentioned in paragraph 2. Any amOunts disbursed by Lender under this paragraph shall becek' an. additional debt of Borrower and be secured by this Security Instrument. These amounts shall bear interest rtom the date of disbursement, at the Note rate, and at the option of Lender, shall be immediately due and payable. J! , Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the l.en in a manner acceptable to Lender; (b) contests in good faith the . lien by, or defends against enforcement of ttie lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien; or (d) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security mJrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over this Security Instrwnent, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien o~ take one or more of the actiODs set forth above within 10 days of the giving of notice. . i 8. Fees. Lender may collect fees and charges authorized by the Secretjuy. 9. Grounds for AcCeleration of Debt. i <a) Default. Lender may, except as limited by regulations issued by the Secretary, in the case of payment defau!.ts, require immediate payment in :tWl of all sums secured byl this Security Instrument if: (i) Borrower defaults by failing to pay in full any monthly paYment required by this Security Instrument prior to or on the due date of the next monthly payment, or I (ii) Borrower defaults by failing, for a period of thirty days, io perform any other obligations contained in this SecurltyInstrument. ! (b) Sale Without Credit Approval. Lender shall, if permitted b~ applicable law (including Section 341(d) of the Garn~St. Germain Depository Institutions Act of 1982, ~2 U.S.C. 1701j-3(d)) and with the prior approval of the Secretary, require immediate payment in full of all sums secured by this Security Instrument ~ ! i ~ _-4N(NE) 104071 Paga 4 Df 8 09-01-000345 Initiate: ~ 'iN