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2oioossi4 abandoned Property. Borrower shall also be in default if Borrower, during the loan application prpcess, gava materially false or inaccurate informatian ar statements to [,ender (or failed to provide I�ender with any material information) in connection wiih the loan evidenced by the Note, including, but not limited to, representations concerning �arrawer's occupancy af the Property as a principal residencc. lf this Security Instrument is on a leaschold, Borrower shall comply with the provisians of the lease. If Borrawer acquires fee title to the Property, the leasehold and fee titic shall not 6e mergcd unless Lender agrees to thc mcrg4r in writing. b. Condemnation. The proceeds of any award ar claim for damages, direct or consequential, in connectian with any condemnatian or other taking of' any part of th� Property, or far conveyance in place of condemnation, are hereby assigned and shall be paid to Lender to the extent of the full amount of the indebtedness that remains unpaid under the Note and this Security Instrument. Lender shall apply such pracecds to the reduction af the indebtedness under the Nate and this Security Instrument, first ta any delinquent amounts applicd in the order provided in paragraph 3, and then ta prcpayment of principal. Any application of the proceeds to the principal shall nat extend or postpone the due date of the manthly paymcnts, which are referred to in paragraph Z, or change the amaunt af such payments. Any excess proceeds over an amount required to pay all outstanding indebtedness under tho Note and this 5ecurity Instrument shall be paid to the entity lega!]y entitled thereto. 7. Charges ta Borrowcr and Protection of Lender's Rights in the Property. Borrawer shall pay all gavernmental or municipal charges, fines and irnpositions that are not included in paragraph 2. Borrower shal] pay thes� obligations an time directly ta the entity which is owed the payment. If failure to pay would adversely affect Lender's interest in thc Property, upon Lender's request Borrowcr shall promptly furnish to Csender receipts evidencing these payments. If Borrower fails to make these payments ar the payments required by paragraph 2, or fails to perform any ather cavenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affact Lender's rights in the Fraperty (such as a praceeding in bankruptcy, for condemnatian or to enforce laws or regulations), then Lender may do and pay whatever is necessary to protect the value of the Aroperty and Lender's rights in the Property, including payment of taxes, hazard insurance and athcr items mentioned in paragraph 2, Any amounts disbursed by Lender under this paragraph shall become an additional debt af Borrower and be securcd by this Security Instrument. These amounts shall bear interest from the date of disbursement, at the Note rate, and at the aptian of Lender, shall be immediately due and payable. Barrowar shall promptly discharge any lien which has prioriry over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable ta Lcndcr; (b) contests in gaod faith the lien by, or defends against enforcement oF the lien in, legal praceedings which in thc Lender's opinion operate to prevent the enforcement of the lien; ar (c) secures fram the holder of the lien an agreement satisfactory to I.ender subordinating the lien to this Security Instrument. If Lender determina5 that any part af the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a natice identifying the lien. Borrawer shall satisfy the lien or take one or more of the actions set farth abovc within 10 days af the giving af notice. S. Fees. Lender may collect fces and charges authorized by the Secretary. 9. Grounds for Acceleration af Debt. (a) Aefault. Lender may, except as ]imited by regulations issued by the Secretary, in the case af payment dcfaults, require immediate paymcnt in full of all sums secured 6y this S�curity instrument if: (i) Sorrower defaults by failing to pay in f'ull any monthly payment required by this Security instrument prior to or on the due date af the next monthly payment, or (ii) Borrower defaults by failing, for a period of thirty days, to perform any other obligations contained in this Security Tnstrument, (b) Sale Without Credit Approval. Lendcr shall, if permitted by applicable law (including Sectian 341(d) vf the Garn-St, Gerrnain Depositary Tnstitutions Act of 1982, 12 U. S. C. 1701 j-3(d)) and with the prior appraval of the Secretary, require immediate payment in tull of all sums secured by this Security Instrument if: 1351015924 �-4N(NE) �oao�) Page A a1 8 �