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:t �r ��-RFCARDED 2 0110 4 3 6 2 20�.105�99. circumstances. Borrower shall not commit waste or destroy, damage or substanrially change the Property or allow the Property to deteriorate, reasonable wear and tear excepted. Lender may inspe�ct the Property if the Property is vacant or abandoned or the loan is in default. Lender may take reasonable action to protect and preserve such vacant or abandoned Property. Borrower shall also be in default if Borrower, during the loan applicarion process, gave materially false or inaccurate information or statements to Lender (or failed to provide Lender with any material information) in connecrion with the loan evidenced by the Note, including, but not limited to, representarions concerning Bonower's occupancy of the Property as a principal residence. If this Security Ins�ent is on a leasehold, Borrower shall comply with the provisions of the lease. If Bonower acquires fee titIe to the Property, the leasehold and fee title shall not be merged unless Lender agr�s to the merger in writing. 6. Condemnation. The proceeris of any awazd or claim for damages, direct or consequenrial, in connecrion with any condemnation or ather takiug 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 unpaid under the Note and this Security Instrument. Lender shall apply such proceeds to the reduction of the ind�btedness uncier the Note and this Security Instrument, first to any delinquent amounts applied in the order provided in paragra.ph 3, and then to pregayment of prineipal. Any application of the proceeds to the principal shall not extend or postpone the due date af the monthly payments, which are refened to iu paragraph 2, or change the amount of such payments. Any excess groceeds over an amount required to pay atl outstanding indebtedness under the Note and this Security Instrument shall be pai@ to the entity Iegally entitled thereto. 7. Cbarges to Borro�er �ud Pratec�ion of Lender's Rig6ts in the Property. Borrower shal� gay alI governmental or municipa�. charges, fines and impositions that are not included in paragraph 2. Borrower shatl pay these obligarivns on time directly to the entity which is owed the payment. If faiIure to pay would adver�iy affect Lender's interest in. the Froperty, ugon Lender's r�uest Bonower sha11 promptly furnish to Lender re.ceigts evidegcing these P�Ym��- If Bonower faits to ma�se tFiese payments or the payments required by paragrapfi 2, or fails to perForm any other cavenants and agreements contained iu this Security Insttument, or there is a Iegal proceeding that may signifcan.tly affect Lender's rig�tts in the Froperty (such as a pr�eeding in bankruptcy, for condemnation or to enforce Iaws vr reguSarions), the� L,etcder mag do and pay whate�rrer is necessary to protect the value of the Property and Lender's rights in the Property, iacludang payment of ta.xes, hazard insurance and other items mentioned in paragraph 2. Any amounts dist��rsed by Lender under this paragraph sha11 become an additional debt of Borrower a� be secured by this Security instrument. Th� 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 lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligatioa se.cured by the Iien in a manner acceptable to Lender, (6) contests in good faittr the Tien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's op'vuon operate to prevent the enforcemern of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lie�t to this 5ecvrity Instrument. If Lender determines that any part of the Property is subje,ct to a lien which may attain 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 acrions set forth above within 10 days of the giving of notice. 8. �ces. Lender may coll�t 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 fu11 of alI sums secured by this Security Instrument if: (i) Borrower defaults by failing to pay in full any monthly payment required by this Security Instxument prior to or on the due date of the next monthly payment, or (ii) Borrower defaults by failing, for a period of tlurty days, to perform any other obligations contained in this Security Instrument. FHA Deed of Trust-NE VMP p Wolters Kluwer Financial Services � � ` 4/96 VMP4RINE1 (0809) Page 4 of 9