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201iQ0304 abandoned Property. T3onrUwcr shall also be in default if Borrower, during the loan application prpc�ss, gave rnaterially false or inaccurat� infc�rmation or statements to Lender (or failed to provide Lender with any matcrial information) in connection with the loan evidenccd by the Note, including, but not limited to, representations concerning Borrower's occupancy of the Property as a princi�al residence. If this Security Instrument is on a leasehold, �3orrower shall comply with the provisions of khe. 1e.ase. If I3orrower acquires fee title to the Property, the leasehold and fee title shall not be merged unless Lender agrces tU the rncrgcr in wriling. 6. Condemnation, The proceeds of any award or claim for darnagcs, direct or consequential, in connection with any condemnation or other taking of any part of the Pra�erty, or for conveyance in place of condemnation, are hereby assigned and shall be paid to Lender ta thc exlenl of the full amount of the indebtedness that remains unpaid under the Note and this Security Instrument. L.ender shall apply such proceeds to the reduction of the indebtednesti under the Note and this Security Instrument, first to any d�linquent amounts applied in the order provided in paragraph 3, and then to prcpayment of principal. Any application of the procesds ta the prinr.ipal shall not extend or postpone thc due date nf the monlhly paym�ents, which are referred to in paragraph 2, or changc the amount of such payments. Any excess proeeeds aver an amount required to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to th� enlity legally entitled thereto. '7. Charg�s to Borrower and Protection of Lender's Rights in the Praperty. Borrower shall pay all governrnental ar municipal char�es, fincs and impositions that are not included in paragraph 2. Borrower shall pay lhese obligations on time directly to the entity which is owcd Chc payment. If failure to pay would adversely affc.ct I�ender's interest in the Froperty, upon L.ender's request Barirower shall promptly furnish to Lender receipts evidencing these payments. If Bc�rrowc:r fails to makc ihese payments or the payments required by paragaraph 2, or fails to perform any other covenants and agreements contained in this Security Ynstrument, or there is a legal proceeding that may significantly affect L.ender's rights in the Property (suc:h as a proceeding in bankruptcy, for condernnatic�n ar to enforce laws or regulations), then Lender may do and pay r�vhaCevtr is necessary to protect the value of the Prap�rly and I,ender's rights in the Property, including payrncnt of taxes, hazard insurance and other items menlioned in paragraph 2. Any amounts disbursed by I.�nder under this paragraph shall become an additiorutl debt of Borrower and be secured by lhis Security Tnslrument. These amounts shall bear interest fram ihe date of disbursement, at the Note rate, and at the optian of I,ender, shall be immediately due and payable. Borrower shall pramplly discharge any lien which has priority over Chis Security Instrument unless Borrower: (a) agrees in wriking ta the paym�:nl of the obligation secured by the lisn in a manner ac�eptable to L.ender; (b) contests in good faith the lien by, or dcfcnds against enforcement of the lien in, legal prc�ccedings which in the T.ender's opinion operate to prevent the tnfoarcement of the lien; or (c) secures from Ih� hc�lder of the lien an agreement satisfactory to Lender subordinating the lien la khis Security Tnstruinent. If L.ender determincs that any part of lhe Property is subject to a lien which may attain priprity over this Security Instrument, L.ender may givc Borrower a notice identifying the lien. Sorrower shall satisfy khe lien or take one or more of the actions set fprth above within 10 days of the giving of notice. 8. Fees, Lender may callect fees and charges authorized by the Secrekary. 9. Grouncls for Acc�ler�tipn of Dcbt. (a) Default. Lend4r may, except as limited by regulations issucd by the Secretary, in the case of payment defaults, require imrnediatc payment in full of all sums secured by this Sccurity Tnstrument if: (i) Borrower defaults by failinb t� pay in full any monthly paym�nt rcquired by this Security Instrument prior to or on the due date of the next mvnlhly payment, or (ii) Borrower defaults by failing, for a period pf I:hirty days, to perform any other obligalic�ns contained in this S�curity Instrumcnt. (b) Sale Without Cr�dit Approval. T.ender shall, if permittGd by applicable law (including Sectinn 341(d) ��f the Garn-St. Germain Depository Institutians Act oP 1982, lZ U.S.C. 1701j-3(d)) and wilh the prior approval of the Secretary, require immediafc payment in full of all sums secured by lhis Security Tnstrument if: � 4R(NE) �ssoi 1 Paqe 4 of 8 Initial� � J r'" °��-`-c-'—