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2o�oosi45 abandoned Property. Barrawer shall also he in default if Borrower, during the loan application process, gave rnaterially false ar inaccurate information or statemcnts to Lender (or failed to provide Lender with any material inforntation) in connection with the laan evidenced by the Note, lncluding, but nat limited to, representatians concerning Borrower's occupancy of the Property as a principal residence. Tf this Security Instrument is on a leasehold, Borrower shall cornply with the provisions of the lease. Tf Borrower acquires fee title to the Property, the leasehold and fee title shall not be merged unless Lender agrees to the merger in writing. b. Condomnation. 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, are hereby assigned and shall be pald to I.ender to the extent of the full amount of the indebtedness khat remains unpaid under the Note and this Security Instnament. Lender shall apply such proceeds to the reduction of the indebtedness under the Note and this Security Instrument, flrst to any delinquent amounts applied in the order provided in paragraph 3, and ihen to prepayment of principal. Any application of the proceeds to the principal shall not extend or postpone the due date of the monthly payrnents, which are referred to in paragraph 2, ar chan�e the amouat of such payments. Any excess proceeds over an axnount required to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity legally enHtled thereto. 7. Charges to Borrower and Protection of Lender's Rights in the Property. Barrawer 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 failure to pay would adversely affect Lender's interest in the Property, upon Lender's request Bnrrower 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 tn perfotm any other covenants and agreements contained in th�s Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a praceeding in bankruptcy, for condemnadon or to enforce laws or regulations), then Lender may do and pay whatever is necessary to protect the value af the Property and Lender's rights in the Property, including payment of taxes, hazard insurance and other items mentioned in paragraph 2. Any amounts disbursed by I,ender under this paragraph shall become an addiUonal debt af Borrower and be secured by this Security Instrument. These amaunts shall bear interest fram the date of disbursement, at the Note rate, and at the option of Lender, shall be immediately due and payable. Borrower shall prompdy discharge any lien which has priority over this 5ecurity Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; @) contests in good faith the lien by, or defends against enfnrcement of the lien in, legal proceedings which in the Lender's npinion operate to prevent the enforcement of the lierr; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If I.ender determines that any part of the Property is subject to a lien which may attain priority over this 5ecurity Instrument, I,ender rnay give Borrower a notice identifying the lien. Barrower shall satisfy the lien or take one or more af the actions set forth above within 10 days of the giving of notice. 8. Fees. I,ender may collect fees and charges authorixed by the Secretary. 9. Grounds far Acceleration of Debt. (a) Default. Lender may, except 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 lf: (1) Borrower defaults by failing to pay in fu11 any ►nonthly payrnent 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 days, to perform any other obligations contained in this 5ecurity Instrument. (b) Sale Without Credit Approval. Lender shall, if permitted by applicable law (including Section 341(d) of the Garn-St. Germain Depository Institutions Act af 1982, 12 U.S.C. 17Q1j-3(d)) and with the prior approval of the Secretary, require immediate payment in full of all sums secured by this Security Instrument if: V�N(Nq �oao�).ai Page 4 of 8 5 V�'�