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201009287 abandoned Praperty. Barrower shall also be in default if Borrpwer, during the loan application process, gave materially false ar inaccurate information or statements to Lender (or failed to provide I.ender with any material info� in cannection with the loan evidenced by the Note, including, but not limited to, representations concerning Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a leasehold, Borrower shall comply with the pravisions of the lease. If Borrower acquires fee title to the Property, the leasehold and fee title shall not 6e rnerged unless Lender agrees to the merger in writing. 6. Condemnation. The proceeds of any award or claim for damag�s, direct ar cansequential, in cannectinn with any condemnation or other taking of any part of the Property, or for conveyance in place af cpndemnation, are hereby assi�ned and shall be paid to Lender to the extent of the full amount af the indebtedness that rernains unpaid under the Note and this Security Instrument. �,ender shall apply such proceeds tv the reduction of the indebtedness under the Note and this Security Instrument, first to any delinquent ampunts applied in the order provided in paragraph 3, and then to prepayment of principal. Any application of the proceeds to the principal shall not extend or postpone the due date of the monthly payments, which are referred ta in paragraph 2, or change the arnount 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 Borrowar and Prot�ction of Lender's Rights in the Property. Sorrower 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. Xf failure to pay would adversely affect Lender's interest in the Property, upon Lender's request Borrower shall promptly furnish to Lender receipts evidencing these payments. Xf Borrawer fails ta make these payrnents or the payments required by paragraph 2, or fails to perform any other covenants and agreements contained in this Security Ynstrument, or there is a legal proceeding thal may significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, for condemnation ar ta enforce laws or regulativns), then Lender may do and pay whatever is necessary to protect the value of the Property and Lender's rights in the Property, including payment of taxes, hazard insurance and other items mentianed in paragraph 2. Any amounts disbursed by �.ender under this paragraph shall become an additional debt of Borrower and be secured hy this 5ecurity Instrument. These amounts shall bear interest fronn the date af disbursement, at the Note rate, and at the option of Lender, shall be immediately due and payable. Borrawer shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) cantests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the llen to thls Security Instrument. If Lender determines thak any part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a noHce identifying the lien. Borrower shall satisfy the lien ar take one or more of the actions set forth above within 10 days of the giving, af notice. S. Faes. Lender may collect fees and charges authorized by the Secretary. 9. Grounds for Accelsration af DBbt. (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 surns secured by this 5ecurity Instrument if: (i) Borrower defaults by failing ta pay in full any monthly payment required by this 5ecurlry Instrument prior to or on the due date of the next monthly payment, nr (ii) Barrawer defaults by failing, for a period of thirty days, to perforrn any other obligatians contained in this Securiry Instrument. (b) Sale Withput Credit Approval. Lender shall, if permitted by applicable law (including Sectian 341(d) of the Garn-St. Germain Depository Institutions Act of 1982, 12 U.S.C. 1701�j-3(d)) and with the prior approval of the Secretary, require irnmediate payment in full of all sums secured by this Security Instrument iF: V�N(Nq �oao7�.o7 Page 4 0( 8 IY � �//l � �� L�C ' G" _