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2o�su3�o5 abandoned Property. Borrower shall also be in default 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 information) in connection with the laan evidenced by the Note, including, but not limited to, representadons concerning Borrower's occugancy of the Properiy as a principal residence. If this Security Instrument is on a leasehold, Bonower shall comply with the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and fee tifle shall not be merged unless Lender agrees to the merger in writing. b. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other ta.king 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 tmpaid under the Note and this Security Instrument. Lender shall apply such proceeds to the reduction of the indebtedness under the Note and this Securiiy Insixument, fust to any delinquent amounts applied in the order provided in paragra.ph 3, and then to prepayment of principal. Any application of the proceeds to the principal shall not extend or postpone the due date of ttie monthly payments, which are referred to in paragraph 2, or cha.nge the amount of sucli payments. Any excess proceeds over an amount required to pay all ontstanding indebtedness under ttte Note and this Security Instrument shall be paid to the entity legally entitled thereto. ?. Charges to Borrower and Profection of Lender's Rights in the Property. Borrower shall pay all governmental or municipal charges, fines aud impositions that are 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 would adversely affect Lender's interest in the Properly, upon Lender's request Borrower shall prompfly fumish 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 Security Instrument, or fhere is a legal pmceeding that may significantly affect Lender's rights in the Properiy (such as a proceeding in banla�uptcy, for condemnation or to enforce laws or regulations}, fhen Lender may da and pay whatever is necessary to protect the value of the Properiy and Lender's rights in the Progerty, including payment of taxes, hazard ins�u�ance and other items mentioned in paragra.ph 2. Any amounts disbursed by Lender under this paragraph sha11 become an additional debt of Borrower and be secured by this Security Instzument. These 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 promptly discharge any Iien wbich has priority over this Security Instrument unless Bonower: (a) agrees in writing to the payment of the obligation 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, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordina.ting the lien to this Security Instrument. ff Lender determines that any part of the Property is subject to a lien which ma.y attain priority over this Security Instrumant, L.ender may give Borrower a notice identifying the lien. Bonower 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. Grounds for Acceleration of Debt. (a) Default. Lenrier may, except as limited by regulations issued by the Secretary, in the case of payment defaults, require immediate payment in full of all sums secured by this Security Instrument if: (i) Bonower defaults by failing to pay in full any monthly payment required by this Securily Instrument prior to or on the due date of the next monthly payment, or (ri) Borrower defaults by failing, for a period of thirly days, to gerform any other obligations contained in this 5ecurity Instrument, (b) Sale Withont Credit Apgroval. Lender shall, if permitted by applicable law (including Section 341(d) of the Garn-St. Germain Depository Institutions Act of 1982, 12 U.S.C. 1701j-3(d)) and with the prior approval of the Secretary, require immedia.te payment in full of all sums secured by this 5ecurity Instrument if: ��-4R(NE} �aeo�� Page 4 of 8 Initlalg��