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�4��0��9i abandpned Property. Borrower shall also be in default if Borrower, during the loan application process, gave materially false or inaccurate infarmation or statements to Lender (or failed to pravide Lender with any material inforrnatian) in connection with the loan evidenced by the Note, including, but not limited to, representations concerning $orrower's occupancy of the Property as a principal residence. If this Security Instrument is on a leasehold, Borrowcr sha11 comply with the pravisipns of the lease. If Borrower acquires fee title to the Praperty, 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 condemnation or other taking af any part of the Praperty, or for conveyance in place of condemnation, are hereby assigned and shall be paid to I.ender to the extent of the full amaunt of the indebtedness that remains unpaid under the Nate and this Security Instrument, I,ender shall apply such proceeds to the reduction of the indebtedness under the Note and this Security Instrument, first to any delinquent amaunts applied in the order provided in paragraph 3, and then to prepayment of principal. Any application of the proceeds to the principal shall not extend or postpone the due date of the m�onthly 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 outstanding indebtedness under the Nate and this Security Instrument shall be paid to the entitq legally entitled thereto. 7. Charges to Borrower and Protection af Lender's Rights in the Property. Borrower shall pay all gavernmental or municipal charges, fines and impositions that ars not included in paragraph 2. Sorrower shall pay these obligations on trme directly to the entity which is owed the payment. If failure to pay would adversely affect Lender's intsrest in the Property, upon Lender's request Borrawer shall pramptly furnish to Lender receipts evidencing these payments. If Borrower fails to make these payments or the payments required by paragraph 2, or fails to perform any other covenants and agreements contained in this Security Instrurnent, or there is a legal proceeding that may signi�'icantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, for condemnation or to enforce laws or xegulations), then L,ender may do and pay whatever is necessary to protect the value af the Property and L.ender's rights in the Prpperty, including payment of taxes, hazard insurance and other iterns mentianed in paragraph 2. Any amounts disbursed by I.,ender under this paragraph shall become an additional debt pf Borrower and be secured by this Security Instrument. These amounts shall bear intexest from the date of disbursement, at the Notc rate, and at the option of Lender, shall be im�mediately due and payable. Borrower shall promptly discharge any lien which has priority over this SecuriCy Instrument 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, legal proceedings which in the L,ender's opinion operaCe to prevent the enforcement of the lien; pr (c) secures from the holder of the lien an agreement satisfactory to L.ender subordinating the lien to this Security Instrument. If I,ender determines that any part of the Property is subjsct to a lien which may attain priority over this Security Instrument, I.ender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one pr more of the actions set forth above within 10 days pf the giving of notice. $. �'ees. Lender may collect fees and charges authorized by the Secretary. 4. Grounds for AcceleratIon of Debt. (a) Default. L.ender may, except as limited by regulations issued by the Sccretary, in the case of payrnent defaults, require immediate payment in full of all sums secured by this Security Instrumenc if: (i) Borrower defaults by failing to pay in full any monthly payment required by this Security Instrument prior tp or on the due date of the next monthly payrnent, or (ii) Borrpwer defaults by failing, for a period of thirty days, to perform any pther obligations contained in this Security Instrument. (b) Sale Without Credit Approval. Lender shall, if permitted by applicable law (including Sectipn 341(d) of the Garn-St. Germain Depository Institutions Act of 19$2, 12 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 Instrurnent if: II I I II IIII I I I II �I�I I I I II I'I�III III II I I I( I I I I I I III gQ3225306016 0233 2fi7 0408 VMP�-4N�NE) loaD�).ot Pa9e a ot s Initials: � �