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�011033�3 <br />abandoned Property. Bonower shall also be in default if Borrower, during the loan application process, gave <br />materially false or in�ccurate information or statements to Lender (or failed to provide Lender with any material <br />information) in connection with the loan evidenced by the Note, including, but not limited to, representations <br />concerning Bonower' s occupancy of the Properiy as a principal residence. If tlus Security Instrument is on a <br />leasehold, Borrower sha11 comply with the provisions of the lease. If Bonower acquires fee, title to the Property, the <br />leasehold and fee title sha11 not be merged unless Lender agrees to the merger in writing. <br />6. Condemnation. The proceeds of any award or claim for damages, direct or consequenrial, in connection with <br />any condemnation or other taking of any part of the Property, or for conveyance in place of condemnation, aze <br />hereby assigned and shall be paid to Lender to the extent of the full amount of the indebtedness that r�**+�n� unpaid <br />under the Note and this Security Instrument. Lender shall apply such proceeds to the reduction of the indebtedness <br />under the Note and this Security Instrument, first to any delinquent amounts applied in the order provided in <br />paragraph 3, and then to prepayment of principal. Any application of the proceeds to the principal sha11 not extend or <br />postpone the due date of the monthly payments, which aze referred to in paragraph 2, or change the amount of such <br />payments. Any excess proceeds over an amount required to pay all outstanding indebtedness under the Note and this <br />Security Insttument sha11 be paid to the entity legally entitled thereto. <br />7. Charges to Borrower and Protection of Lender's Rights in the Property. Bonower shall pay a11 <br />governmental or municipal charges, fines and impositions that aze not included in paragraph 2. Bonower sha11 pay <br />these obligarions on time directly to the enrity which is owed the payment. If failure to pay would adversely affect <br />Lender' s interest in the Property, upon Lender' s request Bonower sha11 promptly furnish to Lender receipts <br />evidencing these payments. <br />If Bonower fails to make these payments or the payments required by paragraph 2, or fails to perform any other <br />covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly <br />affect Lender' s rights in the Property (such as a proceeding in banla�uptcy, for condemnation or to enforce laws or <br />regulations), then Lender may do and pay whatever is necessary to protect the value of the Property and Lender' s <br />rights in the Property, including payment of taxes, hazard insurance and other items menrioned in paragraph 2. <br />Any amounts disbursed by Lender under this paragraph sha11 become an additional debt of Borrower and be <br />secured by this Security Instrument. These amounts sha11 bear interest from the date of disbursement, at the Note <br />rate, and at the option of Lender, sha11 be unmediately due and payable. <br />Bonower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: <br />(a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) <br />contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the <br />Lender' s opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an <br />agreement satisfactory to Lender subordinaxing the lien to this Security Instrument. If Lender determines that any part <br />of the Property is subject to a lien which may attain priority over this Security Instrument, Lender ma.y give <br />Bonower a notice idenrifying the lien. Bonower shall satisfy the lien or take one or more of the actions set forth <br />above within 10 days of the giving of notice. <br />8. Fees. Lender may collect fees and chazges authorized by the Secretary. <br />9. Grounds for Acceleration of Deb� <br />(a) Defaulk Lender may, except as lunited by regulations issued by the Secretary, in the case of payment <br />defaults, require immediate payment in full of a11 sums secured by this Security Instrument if: <br />(i) Bonower defaults by failing to pay in full any monthly payment required by this Security Instrument <br />prior to or on the due date of the next monthly payment, or <br />(ii) Bonower defaults by failing, for a period of thirty days, to perform any other obligations contained <br />in this Security Instrument. <br />(b) Sale Withont Credit Approval. Lender sha11, if permitted by applicable law (including Section 341(d) <br />of the Garn-St. Germain Depository Institutions Act of 1982, 12 U. S. C. 1701 j-3(d)) and with the prior <br />approval of the Secretary, require immediate payment in full of a11 sums secured by this Security Instrument <br />if: <br />2200122217 D V4NNE <br />i�n�ei8. . . . <br />VMP�-4N(NE) loao�).o� Pege 4 of 6 �"' ,p � �� <br />�} °`( <br />