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2Ui104720 abandoned Property. Borrower shall also be in default if Borrower, during #he loan applicatian pracess, gave materially false or inaccurate information or statements to Lender (or failed to provide Lender with any material informatic�n) in connec�ion with [he loan evidenced by the Note, including, but not limiled to, representations concerning Borrower's occupancy of the Praperty as a principai residence. If this Security Instrument is on a teasehold, Borrower shall comply with the provisions of the lease. Tf Borrower acquires fee title to ihe Property, the leasehold and fee title shatt not be merged unless T...ender agrees to the mer�er in writing. 6. Condemnation. The proceeds of any award or ciaim for damages, direct or cansequentiat, in connection with any condemnation or other taking of any part of the Praperty, or for conveyance in place af condemnation, are hereby assigned and shall be paid to Lender ta the extent of the fult amount of the indebtedness that remains unpaid under the Note and this Security Instrument. Lender shail apply such proceeds to the reduction of the indebtedness under the Note and this Security Insirument, first to any delinquent amounts applied in the order provided in paragragh 3, and then to prepayment af principal. Any application of the praceeds to the prineipai sha.11 not extend or pastpone the due date of the monthly paynnents, which are referred to in paragraph 2, or change the amount of such payments. Any excess praceeds over an amount required to pay all outstanding indebtedness under the Note and this Securit}� Instrument shall be paid to the entity legally entiEled thereto. 7. Charges to Borrower and Pratection a€ Lender's Rights in the Property. Borrower shall pay all governmentat or municipal charges, fines and impositions that are not included in paragraph 2. Borrower shall pay these obligati�ns on time directly to tl�e entity which is awed the payment. If failure to pay wautd adversely affect Lc:nder's interest in the Property, upon I,ender's request Borrower shall promptly furnish to Lender receipts evidencing these paymenis. If Bc�rrower faiis to make these payments or the payments requized by paragraph 2, or fails to perform any other covenants and agreements c:ontained in this Security Instrument, or there is a legal proceeding ehat may significantly afEect Lender's rights in the Progerty {such as a proceeding in bankruptcy, for condemnation or to enforce laws or regutatians), then Lender may do and pay whatever is necessary to protect the value af the Property and Lender's rights in the Prcfperty, includin� payment of taxes, hazard insurance and other items mentioned in paragraph 2. Any amounts disbursed by Lender under this para,graph shaIl become an additional debt af Borrower and be secured by this Security Instrument. These amounts shall bear interest from the date af disbursement, at the Note rate, and at lhe option of Lender, shall be immetiiately due and payable. Barrower shall promptiy discharge any lien which has prioricy over this Security Instrament unless Horrower: (a} agrees in writing to the payment o£ the obligation secured by the lien in a manner acceptabl� to Lender; (b) contests in good faith the lien by, or defends against enforcement tif the lien in, legal proceedings which in the Lender's opinion operate io prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lander subordinating the iien to this Security instrument. If Lender determines that any part of the Property is subject to a lien which may aitain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actians set forth above within 10 days of the giving of notice. 8. Fees. I,ender may collect fees and charges auihorized by the Secretary. 9. Grounds for Acceleration of Deb� (a} Default. I..ender may, except as limited bp regulations issued by the Secreiary, in the case af payment defaults, require immediate payment in full af aTl sums secured by this Security Instrument if: (i) Liorrower defaults by failing eo pay in fu1l any monthly paymen4 required by this Security Jnstrument prior to or on ihe due date of the next monEhly payment, or (ii} 13arrower defaults by failing, for a period of thirty days, to perforrn any other obligations c:ontained in this Security Instrument. (b} Sale Without Credit Approval. Lender shall, if permitted by applicable law (inctuding Section 341(d) of the Garn-St. Germain Depository Institutians Act o€ 1982, 12 U.S.C. 17p1j-3(d)) and with the prior apprc�val of the Secretary, require icnmediate payment en full of all sums secared by this Security Instrument if: -0 OOI62 Initiels: �-4N(t4E} (U407) Page4 of 8 0