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�0��0�2�0 abandoned Properry. Borrower shall also be in default if Borrower, during the loan application process, gave materially false or inaccurate inforrnation or statements to Lender (or failed 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 tlus Security Instrument is on a leasehold, Bonower sha11 comply with the provisions of the lease. If Borrower acquires :Fee title to the Property, the leasehold and fee title shall not be merged unless Lender agrees to the merger in writing. 6. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of any part of the Property, or for convayance in place of condemnation, are hereby assigned and shall be paid to Lender to the extent of the full amount of the indebtedness that rexnains unpaid under the Note and this Security Instrument. Lender sha11 apply such proceeds to the reduction of the indebtedness under the Note and tlus �curity Instrument, first to any delinquent amounts applied in the order provided in paragraph 3, and then to prepayment of principal. Any application of the proceeds to the principal shall not extend or posipone the due date of the monthly payments, which 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 tlus Security Instrument shall be paid to the entity legally entitled thereto. 7. Charges to Borrower and Protection of Leuder's Rights in the Property. Borrower shatl pay all governmental or municipal charges, fines and impositions that are not included 'uz paragraph 2. Borrower sha11 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 fumish 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 Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, for condemnaYion 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 Property, including payment of taJCes, hazard insurance and other items mentioned in paragraph 2. Any amounts disbursed by Lender under this pazagraph shall become an additional debt of Bonower and be secured by this Security Inst�ument. 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 pro�tly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of tha obligation secured 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 enforcen►ent of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the Iien to this Security Instr�mient. If Lender determines that any part of the Property is subject to a lien wluch may attain priority over this Security Tnstrument, Lender may give Bonower a notice identifying the lien. Bonower 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 £ees 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 all sums secured by this Security Instrument if: (i) Bonower defaults by failing to pay in full any monthly payment required by this Security Instrument prior to or on the due date of the next monthly payment, or (ii) Borrower defaults by failing, fox a period of thirty days, to perform any other obligations contained itt tlus Security Instruxnent. (b) Sale Without Credit Approval. Lender shall, if germitted 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 inunediate payment in full of all sums secured by this Security Instrument if: 880I.026452 8801026452 Initials: � VMP�-4N(NE) (oao�).ot Pege4 of 8