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�01�00699 abandoned Property. Borrower shall also be in defaalt if Borrower, during the loan application process, gave materially false or inaccurate informa#ion or statements to Lender �or failed to provide Lender with any material informahon) in connectlon 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 rs on a leasehold, Borrower shall cornply with the provisions of the lease. Tf Borrower acqu�res fee title to the Property, the leasehold and fee title shall not be merged unless Lender agrees to the merger m writing. 6. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of any part of the Property, or for 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 Tnstrument. Lender shail apply such proceeds to the reduction of the indebtedness under the Note and this Security xnstrument, first �o any delinquent amounts applied in the order provided in paragraph 3, and then to prepayment of principal. Any app3icat�on of ihe proceeds to the principal shaEl not extend or postpone the due date of the monthiy payments, which are referred to in paragraph 2, or change the amount of such payments. Any excess proceeds over an amount required to pay all outstanding indebtedness under the Note and this Secuxity Instrument shall be paid to the entity legally entitled thereto. 7. Charges to Borrower and Protection of Lender°s R"rghts in the Property. Borrower sha11 pay a11 governmentai or municipal charges, fines and impositions that are not included in paragraph 2. Borrower shall pay these obligat�ons on time directly to the entiTy which is ewed the payment. If failure to pay would adversely affect Lender�s interest in the Froperty, upon Lender's request Borrower shall promptly furnish to Lender receipts evidencing these payments. IF Borrower fails to make these payments or the payments required by paragraph 2, or fails to perform any other covenants and agreements contained in this Secunty Tnstrument, or there is a tegal proceeding that may stgnificantly 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 vaiue of the Property and Lender` s r►ghts in the Property, including payment of taxes, ha7ard insurance and other items mentioned in paragraph 2. Any amounts disbursed by Lender under this paragraph shall become an additional debt of Borrower and be secured by this Securiry Instrument. These amounts shal! bear interest from the date of disbursement, at the Note rate, and at the opt�on of Lencter, sha11 be immediatety due and payable. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligahon secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, 1egaE proceedings which in the Lender` s opinion operate to prevent the enforcernent of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a notice identifying the ]ien. Borrower shal� satisfy the lien or take one ar more of the actions set forth above within 10 days of the giv�ng of notice. 8. Fees. Lender may collect fees and chazges 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 payment defaults, reqi.ure immediate payment in full of all sums secured by this Security Instrument if: (i) Borrower defaults by failing to pay in full any monthiy payment required by this Security Instrument prior to or on the due date of the next monthly payment, or (ii) Borrower defaults by failing, for a period of thirty days, to perform any other obligations contained rn this Secur3ty Tnstrument. (b) Saie Without Credit Approval. Lender shall, if permitted by applicable law {incEuding Section 341(d) of the Garn-St. Germain Depository Institutions Act of 1982, 12 U.S.C. 1701j-3(d)} and with the pr►or approval of the Secretary, require immediate payment �n full of a11 sums secured by this Securiry Instrument It; zzoc�.ossaa D �A� Initiais ��, VMP�"J-4N(NE)1o4o71A� �aga n of 5