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201007097 Borrower shall comply whtlt the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and fee title shall not be merged unless Lewder agrees to the merger in writing. 6. Condemttatian. 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 Property, or for conveyance in place of condemnation, arc hereby assigned and shall be paid to Lender m the extent of the full amount of the indebtedness that remains unpaid under the Nate and this Security Instrument. Lende7 shall apply such proceeds to the reduction of the indebtedness under the Note and this Security lnswmeat, first to any delinquent amounts applied in the order provided in Paragraph 3, aad them to prepayment of principal. Any application of the proceeds to the principal shall not extend or postpone the due: date of the monthly payments. which are referred to in Paragraph z, or chan~c the amount of such payments. Any excess 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. Charges to Borrower and Protection of Lender's Rights in the Propert~•. Borrower shall pay all governmental or municipal charges. fines and impositions that are not included in Paragraph 2. Borrower shall pay these obligations on time directly to the entity which is owed the payment. If (allure to pay would adversely affect Lender's interest in the Property, upon Lender's request Harrower shall promptly furnish to Lender receippts evidencing these paymarts. If 1arrower fails to make these payments s>r the pa arts required by Paragraph 2, 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 ri is in the Property (such ss a proceeding in bankruptcy, for condemnation err to enforce laws or regulatians~then Lender may da and pay whatever is necessary to ~rotext the value of the Property and Lender's rights in the Properly, including payment of razes, hazard insurance and other items me:agoned in Paragraph 2. Any amounts disbursed by Lender under this Paragraph shall become an additional debt of Borrower and be secured by this Security Instrument. These amounts shall bear interest from the date of disbursement at the Notr rate, and at the option of Lender, shall be itnmexiiately duo and payable. Borrower shall promptly discharge any lien which has priority over this Security lnstrtrment 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 faltli the liar by. or defends against enforcement of the lien in, legal proceedings which in the I,ende~'s opinion operate to prevent the enforcement of the lien: or (c) secures from the holder of the lien an agreement :satisfactory to Leader aubordit-ating the lien to this Security [nstrumcnt. if Lender drtcrmines that any part of the Property is subject to a hen which may attain pnonty aver this Security Instrument, Lender may give Borrower a notice identifyittg the liar. Borrower shall satisfy the lien err take one or more of the actions set forth above within ! 0 days of the giving of notice. 8. Fees. Lender may tollcct fees and charges authorized) by the Secretary. 9, Grounds for Acceleration of Debt. (a) Default. Lender may. accept 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 faihag to pay in full any monthly payment required by this 5exurity Instrument prior to or on the due date of the next monthly pa ent, or (ii) Borrower defaults by failing, for a period pf thirty days. to pe;rfottn any other obligations contained in this Security Instrument. (b) Salr Without Credit Approval. Leader shall, if permitted by a licable law (including section 341(d) of the Garn-St Getmaia Depository Institutions Act of 1982, 12 U.S.C. 1701j-3(d)) and with the prior approval of the Secretary, require ttnmediate payment is full of all the sums secured by this Security Instrument if: (i) All or part of the Property, or a beneficial interest in a trust awning all or part of the: Property, is sold or otherwise transferred (other than by devise or decent), and (ii) The Prpperry is not occupied by the purchaser nr grantee as his or her principal residence, or the purchaser or prantce does sn occupy the Property, but his ar her credit has not been approved in accordance with the requirements of the Secretary. (c) ;qa Wa[ver. If circumstances occur that would permit Lender to require immediate payment in full. but Larder does not require such payments. Lender does trot waive its rights with respect to subsequent events. (d) Rc¢ulations of 11UD Secretary. In many circutttstances regulations issued by the Secretary will limit Lender s ruts, in the case of payment defaults, to rttquire immediate payment in full and fartclosc if not paid. This ecrrrity Instrument dots not authorize accekratioa or fareclosurc if not permitted by regulations of the Secretary, (e) A'[ortgage Not Insured. Harrower agrees that if this Security Instrument and the Note are not determined to br eligible for insurance under the National i~Iausing Act within 60 Days frotn the date hereof, Lender may. at its option relquire immediate; payment in full of all sums secured by this Security Instrument. A written statement ofany authorized agent of the Secretary dated subsequent to 60 Days from the date hereof, declining to insure this Security Instrument aad the Note, shall be eicem~ conclusive proof of such ineligibility. Notwithstanding the foregoing, this option may not be exercised by Larder when the unavailability of insurance is solely due to Lender's failure to remit a mortgage inxurance premium to the Secretary. 10. Reinstatement Borrower has a right to be reinstated if [.ender has required immediate payment in full because of Borrower's failure co pa an amount due under the Note or this Security Instrument. This right applies even after foreclosure proceedings are instituted. To reinstate the Security instrument, Borrower shall lender in a lump sum all amounts required to bring Borrower's account current Including, to the extent they are obligations of Harrower under this Security instrument. foreclosure costs and reasonable and custantary attorneys fees and expenses pmpcrly associated with the foreclosure proceeding. Upon reinstatemart by Borrower, this Security Instrument and the obligations that it secures shall remain to effect as if Lender had not required immediate payment is full, However, Larder is not required to permit reinstatement tf: (i) Lender has accepter reinstatement after the commencement of forcciasure proceedings within two years immediately preceding the commencement of a current foreclosure proceeding, (ii) reinstatement will preclude foreclosure on different grautds in the future, or (iii) reinstatement will adversely affect the priority of the lien eccated by this Security I~trilmrnt. 11. Borro~~•er Not Released; Forbearance By Lender Not a ~~'alver. irxtension of the time of payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in intrust of Harrower shall oat operate to release the liability of the ongfinal Borrower or Borrower's successor in interest. Lesnder shall not be required to commence proceedings aggainst any successor in interest or refuse to extend time far payment or otherwise modify amortization of the sums secured by this Security instrument by reason of any demand made by the original Borrower or Borrower's 16236.CV (11i0'>) q_'~ppb;s Pu1T,C 3 0~5 FItA Nebtafka t7erd ~TNn t1r %~ J (30Ta(Wed0a51)