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zoioo7924 abandoned Yroperty. Borrawer shall also be in default if Borrowcr, during the loan application proc�ss, gave materially false or inaccurate information or statemcnts ta I.ender (or failed to provide Lender with any rnaterial information) in connection with the loan cvidenced by the Note, including, but not limited to, representations conc�rning Borrower's occupancy of th�. Frapsrty as a principal residence. Tf this Security Instrument is on a leas�hvld, Borrower shall comply with the prpvisions of the lease. If Borrower acquir�s fee title to the Property, the leas�hald and fee title shall not be merg�d unless I,ender agrees to the merger in writing. 6. Condemnation. The proceeds oF any award or claim for damages, direct r�r consequential, in connection with any cond�mnation or other taking of any part of the Property, or for conveyance in plaee of candemnatian, are hereby assigned and shall be paid to Lend�r ta the extent of the full amount of the indehtedness that remains unpaid under the Nate and this Security Instrument. L.ender shall apply such proceeds to the reductian af tha indebtedness under the Note and this SeGUrity Instrument, first to any delinquent amounts applied in the order provided in paragraph 3, and then to prupayment of principal. Any application of thc proc��ds to the principal shall not extend or postpone the due c�tt� af the monthly payments, which are ref�rred tn in paragraph 2, or change the amount of such payments. Any �xc:�ss praceeds over an amount required ta pay all autstanding indebtedness under the Note and this Security Instrum�nt shall be paid to the entity legally entitled th�reto. 7. Charges ta Borrower and Protection of Lender's R.ights in the Property. Bonower shall pay all governmental or municipal charges, fines and impositions that are nat includsd in paragraph 2. Borrower shall pay these obligations on tim� directly to the entity which is owed the payment. If failure to pay would adversely affect T.ender's intcr�sl in the Property, upon T.ender's request I3orraw�r shall promptly furrush to T.ender receipts evidencing these payments. If Borrawer fails to make these payments or the paym�nts arequired by paragraph 2, or fails to perform any other cav�nants and agreements contained in this Security Instrument, ar there is a legal proceeding that may significantly affect Lender's rights in the Properly (such as a proceeding in baxikruptcy, for condemnation or to �nforcc laws Ur regulations), then L,ender may do and pay what�ver is necessary to protect the value of the Property and Lender's rights in the Property, including paymr:nt of taxes, hazard insurance and other items mentioned in paragraph 2. Any amounts disbursed by Lender und�r tlxis paragraph shall become an additional debt of Borrower and be secured by this Security Tnstrument. Th�s� amounts shall bear interest from the date of disbursement, at the Note ra[c, and at the option of T.ender, shall be imm�diately due and payable. Borrower shall promptly discharg� any lien which has priority over this �ecurity Instrument unless Borrower: (a) agrees in writing to the payment of th� obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the licn by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to pr�v�nt the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien ta this Security Ynstrument. If Lender determines that any part of the Property is subject ta a lien which may attain priority over this Security Tnstrument, Lend�r may give Borrr�w�ar a notice identifying the lien. Barrawer shall satisfy the lien or take one or more of the actions se[ farth abov� within 10 days of the giving of notice. 8. Fees. Lender may collect fees and charges authorized by the Secretary. 9. Grounds Por Acceleration of Debt. (a) DePanit. I,ender may, except as limited by regulations issued by th� Secretary, in the case of payment deFaults, rsquire immediate payment in full of all sums secured by this S�curity Inst►vment if: (i) Borrower defaults by failing to pay in full any monthly paym�nt required 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 tiays, ta perfarrn any other obligations contained in this Security Instrum�nt. (b) Sale Without Credit Approval. I,ender shall, if permitted by applicable law (including Section 341(d) of the Garn-St. Germain Depository Institutians Act of 1982, 12 U.S.C. 17p1j-3(d)) and with the prior approval of the Secr�tary, require iz7amediate paytttent in Pull af all sums secured by this Security Instrument if: � 4R(NE) 1seo� 1 Paqe 4 of $ Initials; ��