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201009338 circumstances. Borrower shall not camtnit waste or destroy, dama$e or substantially change the Property or allow the Property to deteriorate, reasonable weaz and tear excepted. Lender may inspect the Praperty if the Property is vacant or abandoncd or� tho loan is in default. Lender may taloe reasonable actian to protect and preserve such vacant or abandonad Property. Borxower sha11 alsa be in default if Sorrower, during the loan application process, gave materially false or ictaccurate informazion or statements W J..ender (or fai.led to providc L.�nder with any material infurmation) in connection with the laan evidenced by the Note, including, but not limited to, rcpresentations concerning Borrowcr's occupaacy of the Praperty as a principal residence, If this Security Instrument is on a leasehold, Boarrower shall comply with the provisions of tl�e lease. If Bonrower acquires fee title to the Properry, the leasehold and fee dtle shall not be merge� unless I.ender agrees to the merger in writing. 6. Condemnation. The proceeds of any award or claim for damages, direct or consequenrial, in connectian with any condemnation or other takawg af any part of the Property, or for conveyance in place of condemz�ation, are hereby assigned and shall be paid to Lender to the extent of the full amount af the indebtedness that remains unpaid under the Note and this Security Inswment. Lender shall apply such proceeds w the reduction of the indebtedness under the Note and this Security Insavment, first to any delinquent amaunts applied in the order provided in paragraph 3, and then to prepayment af principal. Any applicadon of the proceeds to the principal shall not extend or postpone the due date of the monthly payments, which are referred to in paragraph 2, or change the amount of such payments. Any excess proceeda over an amaunt r�quired ta pay all outstanding indebtedness under thc Note and this Security Instrument shall be paid W the entiry legally entitle� thereto. 7. Charges to Borrower and Protection of I,ender's Rights in the Property. Borrower shall pay all governmental or municipal charges, fines and impositions that aze 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 wauld adversely affect Lender's interest in the Property, upon Lender's request Borrower shall promptly furnish to Lender receipts evidencing these payments. If Borxower fails to make these payments or the paymenta required by paragraph 2, or fails to perform any other covenants and agrcements contained in this �ecurity Instrument, or there is a legal proceeding that may significantly afFect I,ender's rights in the Property (such as a proceeding in banluuptcy, for candemnatio�n or to enforce laws or regulatians), then Lender may do and pay whatevcr is necessary to protect the value of tkie Property and Lender's rights in the Property includiaag payment af taxes, hazard inaurance and other items mendoned in paragraph 2. Any amounts disbursed by I endcr under this paragraph shall become an additional debt of Borrower and be secured by this Security Instrument. These amaunts shall bear interest from the date of disbursement, at the Nate rate, and at the option of L.ender, sball be immediately due and payable. Borrower shall promptly discharge any lien which has priority over tbais Securiry Instrument unless Borrower: (a) agrees in writiang to the payment of the obligation secured by the lien in a raanner acceptable to Lender; (b) contests in goad faith the lien by, or defends against enfarcement of the lien in, legal praceedings which in the I.ender's opuuon operate to prevent the enfo�ement of the lien; or (c) secures from the holder of the lien an agrec�nent sadsfactory to Lender subordina�ing the lien to this Security Instrument. If Le�ider deternunes that any part of the Froperty is subject to a lien which may attain priority over this Security Iastrument, I.ender may give Borrower a notice identifying thc lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. 8. Fees. Lender may collect fees and charges authorized by the Secretary. 9. Grnunds Por Acxeleration of Debt. (a) Default. I.ender may� except as limited by regulations issued by the Secretary� in the case of paymenC defaults. require immediate payment in full of aU sums secured by this Security Tnstrument if: (i) Borrower defaults by failing to pay in full aay monthly payment required by this Security Instrument prior to or on the duc date af the next montWy payment, or (ii) Borrower defaults by failing� for a period of thirty days, to perform any other obligations cantained in this Security Inatr►unsnt. FHA Daed qt Trwta+lE 4l8B VMP � VMP4RINH) (0809) WolMri Kluw�r FlnprN�Jpl $xvlcaa Papa a p} 9