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20�10570� abandoned Property. Bortower shall also be in default if Borrower, during the loan applica.tion process, gave materially false or inaccurate information or statements to Lender (or failed to provide Lender with any material informa.tion) in connection with the loan evidenced by the Note, including, but not limited to, representations concerning Borrower's occupancy of the Progerty as a principal residence, If this 5ecurity Instrument is on a leasehol@, Borrower shall comply with the provisions of the lease. If Borrower acqui�es fee title to the Property, the leasehold and fee tifle shall not be merged unless Lender agrees to the merger in writing. 6. Condemnation. The proceeds of any awazd or claim for da.mages, direct or consequential, in connection with any condemnation or other taking of any part of the Progerly, or for conveyance in place of condemnation, are hereby assigned and sball be paid to Lender to the extent of the full amount of the iudebteduess that rema.ins unpaid under the Note and this Security Instrument. I.ender sha11 apply such proceeds to the reduction of the indebtedness under the Note and this Security 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 monthlq 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 tfiis Security Instrument shall be paid to the entity legally entitled thereto. 7. Charges to Borrower and Proteciaon of Lender's Rights in the Progerty. Borrower shall gay all governmental or municipa.l charges, fines and impositions that are not included in paragraph 2. Borrower shall pay these abligations on time directly to the entity which is owed the payment. If failure to pay would adversely aifect Lencier's interest in the Property, upon Lender's request Borrower shall prompfly fiunish to Lender receipts evidencing these payments. If Borrower fails to make these payments or the payments required by para.graph 2, or fails to perform any ofher covenants and agreements contained in this Security Instrument, or there is a Iegal proceeding tha.t may significantly affect Lender's zights in the Properly (such as a proceeding in banla�uptcy, for condemna.tion 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 taxes, hazard insurance and other items mentioned in paragraph 2. Any amounts disbursed by Lender under this paragraph shall become an additional debt of Borrower and be secured by this Security Inshvment. 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. Borrower shall promptly discharge any lien which has priority over this 5ecurity Instrument unless Borrower: (a) agrees in writing to the payment of the 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 ogerate to prevent the enforcement of the lien; oz (c) secures from the holder of the lien an agreement satisfactory to Lender subordina.ting the lien to this Security Instrument. If Lender determines that any part of the Properiy is subject to a lien which may attain priority ovez this Security Instrument, Lender may give Borrower a notice identifying 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. Fe�. Lender may collect fees and charges authorized by the 5ecretary. 9. Grounds for Acceleration of lleb� (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 (ri) Borrower defaults by failing, for a period of thirty days, to perform any other obligations conta.ined in this Security Instrument. (bj Sale Withont Credit Appro�al. Lender shall, 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 seeured by this Security Instrument if: (�j �-4R(NE) resou Page 4 af 8 �� ' "�d