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241103645� abandoned Property. Borrower shall also be in default if Borrower, during the loan application process, gave materially false or inaccurate information or statements to Lender (or fail�l to provide Lender with any material information) in connection 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 is on a leasehold, Borrower shall comply with the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and fee title sha11 not be merged unless Lender agrees to the merger in writing. 6. Condemnation. The proceeds of any awazd or claim for damages, direct or consequential, in connection with any condemnation or other taking of any part of the Propetty, or for conveyance in place of condemnarion, aze 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 Instrument. Lender sha11 apply such proceeds to the reduction of the indebtedness under the Note and tUis Security Instrument, first to any delinquent amounts applied in the order provided in pazagtaph 3, and then to prepayment of principal. Any application of the proceeds to the principal shall not extend or postpone the due date of the monthly payments, wluch 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 Security Instrument shall be paid to the enrity legally entitled thereto. 7. Charges to Borrower and Protection of Lender's Rights in the Property. Bonower shall pay all governmental or municipal charges, fines and impositions that are not included in paragraph 2. Bonower 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 Property, upon Lender's request Borrower shall promptly fiuvish 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 Insm�ment, or there is a legal proceeding that may significantly affect Lender's rights in the Properiy (such as a proceeding in banlQUptcy, for condemnation or to enforce laws or regulations), then Lender may do and pay whatever is necessary to protect the value of the Property and Lender' s rights in the Properiy, including payment of taxes, hazard insurance and other items mentioned in pazagraph 2. Any amounts disbursed by Lender under this pazagraph shall become an additional debt of Bonower and be secured by this Se,curity Instrument. 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. Bonower shall promptly discharge any lien which has priority over this Security Instivment unless Borrower: (a) agrees in writing to the payment of the obligation se,cured 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 subordinating the lien to tlus Security Insmiment. If Lender determines that any part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender ma.y give Bonower a norice identifying the lien. Bonower sha11 satisfy the lien or take one or more of the actions set forth above within 10 days of the giving af notice. 8. Fees. Lender may collect f� and charges authorized by the Secretary. 9. Grounds for Acceleration of Deb� (a) Default. Lender may, except as limited by regulations issued by the Se,cretary, 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 aay monthly payment required by t}us Securiry Instrument prior to or on the due date of the next monthly payment, or (ii) Bonower defaults by failing, for a period of thirty days, to perform �y other obligations contained in this Sec�arity Instrument. (b) Sale Without Credit Approval. Lender sha11, 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 immediate payment in full of all sums secur� by this Security Instrument � 1351102076 Initlals: VMP�-4N(N� (oao��.o� Page4 oi B