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201007735 abandoned Property. Borxower shall also be in default if Borrower, during the loan application process, gave materially false or inaccurate information or statements to Lender (pr failed to provide I.,ender with any material infoarmation) in connection with the loan evidenced by the Note, including, but not limited to, representations concerning Bprrower's occupancy c7F the Property as a principal residence. Tf 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 daznages, direct or consequential, in connection with any candemnation or other taking of any part of the Property, or for conveyance in place of condemnation, are hereby assigned and shall be paid to J_.ender to the extent of the full amount of the indebtedness that rem�ains unpaid under the Note and this Security Instrument. Lender 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 paragaraph 3, and then to prepayment of princip�l. Any application of the proceeds to the principal shall not extend or postpone the due date of the monthly payments, whi.ch are reFerred to in paragraph 2, or change the amount of such payments. Any excess proceeds aver an amount required to pay all outstanding indebt�dness 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 Property. Borrower shall pay all governmental or municipal charges, fines and impositions that are not included in paragraph 2. Borrower shall pay these abligations on time directly to the entity which is owed the payment. If failure to pay would adversely affect Lender's interest in We Property, upon Lender's request Borrower shall promptly 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 Instrument, or there is a legal proceedin� 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 Lender's rights in the ProperCy, including payment c�f taxes, hazard insurance and other items naentioned in paragraph 2. Any amounts disbursed by Lender under this paragraph shall become an additional debt o� Borrower and be secured by this Secvrity Tnstrument. These amounts sha11 bear interest from the date of disbursement, at the Note rate, and at the option of Lender, shall be irnmediately dne and payable. Borrower shall promptly discharge any lien which has priority aver this Security Instxument unless Borrower: (a) agrees in writir� to the payment of the abligation secured by the lien in a manner acceptable to Lender; (b) contests in �ood faith the lie.n by, or defends again,st enforcement af the lien in, legal proceedings which in the L.ender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. Yf I.ender determines that any part of the Property is subject to a lien which rnay attain priority over tlus Security Tnstrument, Lender may give Borrower a notice identifying the lien. Boxxower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. 8. �'ees. Lender rnay collect fees and charges authorized by the Secretary. 9. Grounds for Acceleration of Debt. (a) Default. Lender may, except as limited by regulations issued by the Secretary, in the case of payment defaults, require imrnediate payment in full of all sums secured by this Security Instxument if: (i) Borrower defaults by failing to pay in full any monthly payment required by this Security lnstnunent prior to c�r 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 cantained in this Security Instrument. (b) Sale Withoak Credit Appraval. Lender shall, if permitted by applicable law (including Section 341(d) of tlie Garn-St. Germain Depository Institutions Act of 1982, 12 U.S.C. 1701j-3(d)) and with the prior approval of the Secretary, require immediate payment in full of all surns secured by this Security Instrument it: � (seotl Paga 4 of 8 Initials:�