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~oos~sso3 stroll also be in default if Borrower, during dre loan application process, gave materially false or ittaccurate information or statements to Lender (or failed to provide Lender widr 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 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 Ice 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 condemnation or other taking of any part of the Properly, or ibr conveyance in place of condemnation, are hereby assigned and shall be paid to Lender to die extent of the full amount of dre indebtedness that remains unpaid under the Note and this Security Instrument. Lender shall apply such procccds to dre reduction of dre indebtedness under dre Note and this Security Instrument, first to any delinquent amounts applied in dre order provided in paragraph 3, and lien to prepayment of principal. Any application of die procccds to the principal shall not extend or postpone the due date of the monthly payments, which are referred to in paragraph 2, or change dte amount of such payments. Any excess proceeds over an amount required to pay all outstanding indebtedness under die Notc and this Security Instrument shall be paid to the entity legally entitled tirereto. 7. Charges to Borrower and Protection of Lender's Rights in the Property. Borrower shall pay all governmental or municipal charges, fines and impositions drat are not included in paragraph 2. Borrower shall pay these obligations on time directly to the entity which is owed die paytnent..ll~ 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 Borrower fails to make these payments or the paytnen4s reyuired by paragraph 2, or fails to perform any other covenants and agreements contained in this Security Instrument, or Lltere is a legal proceeding that may sigtriticantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, for condemnation or to enforce laws or regulations), then Lender tray do and pay whatever is necessary to protect die value of the Property and Lender's rights in dre Property, including payment of taxes, hazard insurance and odrer itcttrs mentioned in paragraph 2. Any amounts disbursed by Lender under this paragraph shall hccotttc an additional debt of Borrower and be secured by dais Security lnstrutnent. 'lfiese amounts shall bear interest from die date of disbursctncnt, at die Note rate, and at die option of Lender, shall be immediately due and payable. Borrower shall promptly discharge any lien which has priority over dais Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by dre lien in a manner acceptable to Lender; (b) contests in good faith dre lien by, or defends against enforcement of the lien in, legal proceedings which in the L,ender's opinion operate to prevent die enforcement of dre lien; or (c) secures from Llre holder of dre lien an agreement satisfactory to Lender subordinating dre lien to this Security Instrument. If Lender detcrntines that any part of dre Property is subject to alien which may attain priority over this Security Instrument, Lcndcr tray give Borrower a notice identifying die lien. Borrower shall satisfy dre lien or take one or more of the actions set fords about within 10 days of dre giving of notice. K. Fees. Lender tray collect fees and charges authorized by dre ticcret<~ry. 9. Grounds For Acceleration of Delat. (a) Default. Lender Wray, except as limited by regulations issued by the Secretary, in the case of payment defarlts, require immediate payment in full of all sutras secured by dris Security Instrument if: (i) Borrower defaults by failing to pay in full any mondrly payment required by this Security Instrument prior to or on dre due date of the next monthly paytncnt, or (ii) Borrower defaults by failing, for a period of thirty days, to perform any other obligations contained in dris Secrrity Instrument. (b) Sale Without Credit Approval. Lender shall, i!' permitted by applicable law (including Section 341(d) of the Garn-St. Germain Depository Institutions Act of 1982, 12 LJ.S.C.17Ulj-3(d)) and with the prior approval of the Secretary, require immediate payment in full of all sums secured by dris Security Instrument it`. -4N(NE) (0407) PageAofB Initlels~