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20100890i abandan�d Praperty. Barrower shall also be in default if Borrower, durin,g the loan applicatian process, gave materially false or inaccurate information or statements to L.ender (or failed ta provide Lender witlx any material infarmatian) in connection with the loan evidenced by the Note, including, but not limited to, repr�scntatia�.s concerning Borrower's occupancy of the Property as a principal residence. If [his Security Instrument is on a leasehold, Borrower shall comply with the provisions of the lease. Tf Borrower acquir�:s fee title to th� Prpp�rty, the leasehold and f"ee title shall not be merged unless Lend�r agrees to thc� merger in writing. 6. Condemnation. 'I'he pr�cceds af any award or claim for damag�s, direct or consequential, in connection with any condemnation or oth�r taking of any part of the Property, or for conveyance in place of condemnation, are hereby assign�d and shall be paid to Lender to the extent of the full amount of the indebtedness that remains unpaid undc:r the Notc 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 amounts applied in the order provided in paragraph 3, and then ta prepayment of principal. Any applicationof We proceeds to the principal shall not extend or pastpone the due date of the monthly payments, which are referred to in paragraph 2, or change lhe amount of such payments. Any excess proceeds over an amount required to pay all outstanding indebtedness 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 rnunicipal charges, fines and impositions that are not included in paragraph 2. Borrower shall pay these obligations on time directly to thc entity which is owed lhe paymcnt. If failur� t� pay would advers�ly affecC T.ender's interest in the Property, upan I.�nder's request Burrawer shall prornptly furnish to Lender receipts evidencing these payments. Tf Borrower fails to make thesc paymt;nts or thc paym�nts r�quir�d by paragraph 2, ar fails ta perfarm any other covenants and agreements c�ntained in this Security Instrument, or lhere is a legal pr��c��ding that rnay significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, for condemnation or to enforce laws or regulations), then T..ender may do and pay whatever is necessary to protect the value of the Property and T.ender's rights in the Yroperty, 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 additional debt of Borrower and be secured by this Security Instrument. These amounts shall bear interest from the date of disbursement, at the Note rate, and at the option of I,ender, shall be immediately duc and payable. Borrow�r shall promptly discharge any lien which has priarity ov�r Lhis S�GUrity Instrum�nt unlcss Bc�rrower: (a) agrecs in writing to the payment qf th� obligatian secured by tht li�n in a amann�r acceptablc; Co I.,endcr; (b) cantests in good faitli the lien by, or defends against enforcement of the lien in, legal proceedings which in th� Lender's opinion operale to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to L.ender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satis 'ty the lien or take one or more of the actions set forth abave within 10 days of the giving of notice. 8. Fees, T..ender may collect fees and charges authorized by the Secretary. 9. Grounds for Acceleration of Debt. (a) Default. T.ender may, except as limited by regulatians issued by the Secretary, in the case af payment defaults, require immediate payment in full of all sums secured by this Security Tnstrument if: (i) Borrower defaults by failing to pay in full any monthly payment required by this Security Instrurnent 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 pertorm any other obligations contained in this Security Instrument. (h) Sale Without Credit Approval. L,ender shall, if perzniCted by applicablc law (including Section 3a1(d) of the Garn-St. Germain llepository Institutions Act of 1982, 12 LJ.S.C. 17Q1j-3(d)) and with the prior approval of the 5ecretary, require immediate payment in full of all sums secured by this S�curity Instrument �r: ��4RINE) issoi� Paga 0. of 8 Ini �