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20110227� abandoned Property. Borrower shall atso be in default if Borrower, during the toan applica�ion process, gave materially false or inacc�uate information or statements to Lender (or failed to provide Lender with any nnaterial information) in connection with the loan evidenc�d by the Note, including, but not limited to, tepresentatio� conoerning Borrower's occupancy of the Property as a principal residence. If this Security Instrument is oa a leasehold, Borrower shall comply with the provisions of the lease. If Borrower acquires fee tide to the Property, the IeasehoId and fee tit}e shall not be merged unless Lender agrees to the merger in writing. 6. Cflndemnatioia. The proceeds of any award or claim for damages, dired or consequential, in connectian witt► any mndemnation or other taking of any part of the Propetty, ' or for conveyancx 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 Securiry Instrument. Lender shall apply such proceeds to the reduction of #he indebtedness under the Note and this Security Instrument, first to any delinquent amounts applied in the order provided in pazagraph 3, and then to prepayment of Qrineipal. Any application of the proceeds to the principal shall not extend or postpone the due date of the monthly payments, which are referred to in pazagra{�h 2, or chan$e the amount of such payments. Any eJCCess proceeds over an amouot required to pay all ouistanding indebtedness under the Note and this Se�urity Instrument shall be paid W the entity legally entitled thereto: 7. Charges to Bor�wer and Profedion of Lender's Rights in the Property. Bonower shall pay all governmental or municipal charges, Snes and impositions that are not included in paragraph 2. Borrower shall pay these obligations on time d"uectly to the enrity which is owed the paymee� If failure to pay would adversely affed Lender's interest in the Property, upon Lender's request Borrower shall prompfly fiunish to Lender receipts evidencing these payments. If Honower fails to make these payments or the payments required by paragraph 2, or fails to perform any other oovenants and agreements contained in this Security Instrument, or there is a legal procxeding that may significantly affee�t Lender's rights in the Property (such as a prooeeding in banksuptcy, for �ndemnatian or to enforoe laws or regulations), then Lender may � and pay whatever is necessary to protect the value of the Property and Lendet's rights in the Property, including payment of tax�, hazard insurance and other ikems mentioned in paragraph Z. _ Any amounts disbursed by Lender under t6is paragraph shall become an additional debt of Borrower and be sacured by this Security Fnstroment. T'hese amounts shall bear interest from the date of disbursement, at the Note rate, and at the option of Lender, shall be immediately due and payable. Borrower shall prompt�y discharge any lien which has priority over this Security Instrument unless Banower: (a) agrees in writing to the payment of the obligation s�ued by khe lien in a manaer acceptable to Lender; (b}' contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in tbe I.ender's opinion operate to prevent the enforcement af the lien; or {c) secaues from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Secauity Instrument. If Lender datermines that any part of the Property is subject to a lien which may attain priority over this Security Inscnunent, I.entler may give Borrower a notice identi#ying the lien. Borrower shall satisfy the lien or take one or r�re of the actions set forih above within 10 days of the giving of notice. 8. Fcea Lender may colled �"ees and chazges authorized by the Secretary. 9. Grounds for Acceleration of Deb�. - _� (a} Defeult, Lender may, excspt as limited by regularions issued by the Secxetary, in the case of payment defaults, require immediate payment in full of all sums s�cured by this Se�uriry Instrument if: (i) Borrower defaults by fai�ing to pay in full any monthly payment required by this Security Instrument prior to or on the due date of t6e next monthiy payment, or ' (u) Bonower defaults by failing, for a period of thirty days, to perform any other obligations oontained in this Security Iastrument. (b} Sale Witl�ont Credit Apprnval. I.ender shall, if permitted by applicable law (including Section 341(d) of the Garn-St. Germain Depository Iustitudons Act of 19$2, J2 U.S.C. 1701j-3(d)) and with �the prior approval of the Secretazy, require immediate payment in fu1} of all sums secaued by this Security Instrument if: �-4N(N� tao» ve�e a o� s 1 02-0 initlab /n S r � �° _