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�01104029 circumstances. Borrower shall not commit waste or destroy, damage or substantially change the Property or allow the Property to deteriorate, reasonable wear and tear excepted. Lender may inspect the Property if the Property is vacant or abandoned or the loan is in default. Lender may take reasonable action to prote.ct and preserve such vacant or 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 failed to provide Lender with any material information) in connecrion witlt 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, �nower sha11 comply with the provisions of the lease. If Bonower acquires fee title to the Property, the Ieasehold and fee ritle strall not be merged unless Lender agrees to the merger in writing. 6. Condemnation. The proceeds of any award or claim for damages, dire,ct or consequenrial, in connection with any condenrnatioII or other taking of any part of the Property, or for conveyance in place of condemnation, are hereby assigned and sha11 be paid to Lender to the extent of the full amount of the indebtedness that remains unpaid under the Note and this Security Insmiment. Lender shall apply such proc.eeds to the reduction of the indebtedness under the �ote and this Security Instrument, first to any delinquent amounts applied in the order provided in paragraph 3, an� then to prepayment of principal. Any applicarion of the proceeds ta the principal shall not extend or gostpone the due date of t�e monthly gayments, which are refened to iu paragraph 2, or change the amount of such pa�ents. Any excess proceeds over an amount requiF� to pay all outstancting indebtedness under the Note and this Security Insttu.ment shall be gaid to the entity legally entitled thereto. 7. Charges to Borrowe� a�d Prot�tion of Lender's Rights in the Property. Borrower sha11 pay all governmental or municipat chazges, fines and impositions that are not includec� in paragraph 2. Borrower shall pay the� obligarions on time ciirrectly to the entity which is owed. the payment. If failtire to pay would adversely affect I.ender's interest in the Pm�rty, upon Lender's request Borrower shall gromptl� fuinish to Lenc�er receipts evidencing these payments. If Borrower fails to inake these payments or the payments required by paragraph 2, or fails to gerform any other covenants � agreemenis contained in this Security Instrument, or there is a Iegal proc�ding that may significantly affect Lender's rights in the Property (such as a pr�ing in banl�uptcy, far condemnation or to enforce laws or regvlatio�), then Lender may da and pay whatever is nece.ssary ta protect the value of the Property and Lender's rights in the Property, includiag payment of taxes, hazard i�c�rance and other items mentioned in paragraph Z. tlny amounts disbursed by Lender under this paragraph shall become an additionat debt of Bonower and be secured by this Security Instrament. These amounts shall t�ear interest from the date of disbursement, at the Note rate, and at the option of Lender, shall be immediately due and payable. Borrower shail promptly discharge any lien which has priority over this Security Tnstrument unless Bonower: (a) agrees in writiag to the payment of the obligation se,curea by the lien in a manner acceptable to Lender; (b) contests in good faith the Iien 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 sa.tisfactory to Lender subordigating the lien to this S�urity Instrument. If Lender determines that any part of the Property is subjext to a lien which may attain priority over this Security Instrument, Lender may give Borrower a notice idenrifying the lien. Borrower 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. Lender may, except as limited by regulations issued by the Secretary, in the case of payment defaults, require immediate payment in full of a11 sums secured by this Security Insmiment if: (i) Borrower defaults by failing to pay in fu11 any monthly payment required by this Security Instrument prior to or on the due ctate of the next monthly payment, or (ii) Borrower defaults by fa.iling, for a period of thirty days, to perform any other obligations contained in this Security Instrument. FHA Deed of Trust-NE VMP � Wolters Kluwer Financial Services 4/96 VMP4RWE) (0809) Page 4 of 9 � ` . . � �. , '�d..