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2�i0�9�� abandoned Property, Borrower shal] alsa be in dcfault if T3orrower, during the loan application process, gave materially false or inaccurate infarmatian pr stacernents to Lender (ar failed to pravidc Lender with any material information) in connection with the loan evidenced by the Note, including, but not limited to, representaiions concerning Borrower's occupancy af the Prap�rty as a principal residence. If this Security Instrument is on a leasehold, �orrower shall comply with the pravisions of the lease. If Barrower acquires fee title to the Property, the leasehold and fee title shal] not be merged unless Lender agrees ta thc rnerger in writing. 6. Candemnation. The praceeds of any award or claim for damages, direct or consequential, in connaction with any candamnation or other taking of any part of th� Property, ar for conveyance in place of eondemnation, arc hereby assigned and shall be paid to Lender to the extent of the full amount of' the indebtedness that rcmains unpaid under 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 arder provided in paragraph 3, and then co prepayment af principal. Any application af the praceeds to the principal shall not extend ar pastpone the due date of the monthly payments, which are referred to in paragraph 2, or change the amount of such payments, Any excess proceeds over an arnount 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 I.cnder's R3ghts in thc Property. &arrower shall pay all governmental ar municipal charges, fines and impositions that are nat included in paragraph 2. Borrower shall pay these obligations on time directly to the entity which is awed thc payment. It� failurc to pay would adversely affect Lender's interest in the Property, upon Lender's requcst Borrower shall promptly furnish to Lender receipts evidencing these payments. If Borrower fails to make these payments or the payments required by para�raph 2, ar fails to perform any other covenants and agreements contained in this 5ecurity instrument, or there is a legal proceeding that may signi�cantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, for condemnation or to enforce laws or regulations), then Lender may do and pay whatever is necessary to protect the valu� of the Froperty and C,ender' s rights in the Praperty, including payment of taxes, hazard insurance and other items mentioned in paragraph 2, Any amounts disbursed by Lcnder under this paragraph shall become an additional debt af Sorr�wer and be secured by this Security Instrument. These amounis shall bear interest fram thc date of disbursement, at the Note rate, and at the option of Lender, shall be immediately due and payable. Borrower shall promptly discharge any lien which has priority over this Security Instrumcnt unless Rorrawcr: (a) agrees in writing to the payment af the obligation secured by the lien in a manner acceptable to [,endcr; (b) contests in good taith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lcnder's opinion operate to prevent the enfarcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien ta this Security lnstrument. If' Lcnder determines that any part af the Property is subject to a lien which may attain priarity over this Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set farth above within ]0 days of the giving of natice. 8. Fees. Lender may collect fees and charges authorized by the Secretary. 9. Grounds for Acceleration of Debt. (a) Default. Lender may, except as limited by regulations issued by the Secretary, in the case of paymeni defaults, reyuire immediate payment in full of all sums aecured by this Security Instrument if: (i) Borrower defaults by Failing to pay in Full any monthly payment required by this Security Cnstrument priar to or on the due date of the next monthly payment, ar (ii) Borrower defaults by failing, for a periad of thirty days, ta perforrn any other obligations contained in this Security Instrument. (b) Sale Without Credit Approval. C.ender shall, if permitted by applical�le law (including Sectian 34l(d) ot� the Garn-St. Germain Depository [nstitutions Act af 1982, 12 U. S.C. 1701 j-3(d)) and with the prior appraval af thc Secretary, require immediate payment in full af all sums secured by this Security Instrumcnt if' 7.351016745 T C� Ini�ials�. "'~ � � � � ' bM P�-4 N(N E) �oa o>>.o i Page 4 0� 8 ��