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2oiooo9s2 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 Lcndcr 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 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 conscqucntial, in connection with any condemnation or other taking of any part of the Property, or for conveyance in place of condemnation, are hereby assigned and shall he paid to l,,endcr to the extent of the full amount of the indebtedness that remains unpaid under the Note and this Security Instrument. Lcndcr shall apply such proceeds to the reduction of the indebtedness under the Note and this Security lnstrumc,~r--t, first to any delinyuent amounts applied in the order provided in paragraph 3, and then to prepayment of principal. Any application of the proceeds to the prir-cipal shall not extend or postpone the due date of the monthly payments, which arc referred to in paragraph 2, or change the arnount of such payments. Any excess proceeds over an amount rcyuircd to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity legally entitled thcrcta. 7. Charges to Borrawer and Pratectian of bender's Rights in the Property. Borrower shall pay all governmental or municipal charges, fines and impositions that arc not included in paragraph 2. Borrower shall pay these obligations on time 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 reyuest Borrower shall promptly furnish to I..ender receipts evidencing these payments. If Borrower fails to make these payments or the payrnerrts required by paragraph Z, or fails to perform any other covenants and agreements contained in this Security Instrument, 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 l.,ender's rights in the Property, including payment of taxes, hazard insurance and other items mentioned in paragraph 2. Any amounts disbursed by Lcndcr under this paragraph shall become an additional debt of Borrower and be secured by this Security Instrument. Thcsc amounts shall bear interest from the date of disbursement, at the Note rate, and at the option of Lcndcr, shall be immediately due and payable. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower; (a) agrees in writing to the payment ot" 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, legal proceedings which in the Lender's opinion apcrate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating tkre lien to this Security Instrument. if Lender determines that any pare of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy tyre lien or take one or more of the actions set fin-th above within 10 days of the giving of notice. 8. Fees. Lender may collect fees and charges authorized by the Secretary. 9. Grounds for Acceleration of Debt. (a) Default. bender 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 tailing to pay in full any monthly payment rcyuircd by this Security Instrument. prior to or on the due date of the next monthly payment, or (ii) Borrower defaults by failing, for a period of thirty days, to perform any other obligations contained in this Security Instrument. (h) Sale Without Credit Approval Lender shall, if permitted by applicable law (including Section 341(d) of the Garn-St. Germain Depository Institutions Act of 1982, 12 U.S.C. 1701j-3(d)) and with the prior apprcwal of the Secretary, require immediate payrnent in full of all Burns secured by this Security Instrument. i f; 300007 ~~RI~~I(OAp7).G1 Pr~e4ofB Initials: '1 ~ ~'