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2010�7927 5. Occupancy, Preservation, Ma'vntenance and Protection of the Property; Borrower's Loan Application; Leaseholds. Borrower shall occupy, establish, and use the Praperty as Borrower's principal residence within sixty days after the execution of this Securiry Instrument (or within sixty days of a later sate or transfer of the Property) and shall continue to occupy the Property as Borrower's principal residence far at least one year after the date of occupancy, unless Lender determines that requirement will cause undue hardship for Borrower, or unless extenuatiu�g circumstances exist which are beyond Borrower's control. Borrower shall notify Lender of any extenuating circumstances. Borrower shall not commit waste or destroy, damage or substantially change the Property or allow the Property to deteriorate, reasonable wear and tear excepted. Lender may inspect the Property if the Property is vacant or abandoned or the loan is in default. Lender may take reasonable actian to protect and preserve such vacant ar abandoned Property. Borrowex shall alsa be in default if Borrower, during the loan application process, gave materially false or inaccurate infarmation or staternents to Lender (ox failed to provide Lender with any material information) in coxanection with the loan evidenced by tixe Note, including, but not limited to, representations concezning Bort'ower's occupancy of the Property as a principal residence. If this Securiry Instrument is on a leasehald, 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 ar claim for damages, direct or consequential, in connection with any condemnation or other taking of any part of the Properry, or for conveyan.ce in place of condemnation, are hereby assigned and shall be paid to Lender to the extent of the full amount af the indebtedness that remains unpaid under tlxe Note and this Security Instrument. Lender shall apply such proceeds ta the reduction of the indebiedness under the Note and this Security Instrument, first to any delinquent amounts applied in the arder provided in Paragraph 3, and then to prepayment af principal. Any application of the proceeds to the principal shall not exCeand or postpane the due date of the rnonthly payrnents, which are referred to in Paragraph 2, or change the a�mount of such payments. Any excess proceeds over an amount required ta pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entiry legally entitled thereto. 7. Charges to Borrower and Protection of Lender's Rights in the Praperty. 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 o�ved the payment. If failure to pay would adversely affect Lender's interest in the Property, upon Lender's request Borrower shall promptly fumish to Lender receipts evidencing these payments. If Borrower fails to make these payixaents or the payments required by Paragraph 2, or fails to perform any ather covenants and agreements con.tained in this Securiry Instrument, or there is a legal pxoceeding that may significantly affect Lender's rights in the Property (such as a proceeding i.ti bankruptcy, for condemnation or to enforce laws or regulations), then Lender may do and pay whatever is necessary to protect the value of the Properry and �.ender's rights in the Property, including payment of taxes, hazard insurance and other items nnentioned in Paragraph 2. Any amounts disbursed by Lender under this Paragraph shall become an additional debt of Borrower and be secured by this Secuxity Instrwnent. These amounts shall bear interest from the date of disbursement at the Note rate, and at the option of L,ender sha11 be immediately due and payable. Borrower shall proznptly discharge any lien which has prioxity over this Security Insmunent unless Barrower: (a) agrees in writing to tl�e 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 it� the L.ender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactary to Lender subordinating the lien to this Security Insixument. If Lender determines that any part of the Property is subject ta a lien which may attain prioriry over this Security Inshument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within lp days of the giving of notice. 8. Fees. Lender nnay collect fees and charges authorized by the Secretary. 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