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'r r��:: abandoned Property. Borrower shall also be in default if Boirower, during the loan application process, gave materially false or inaccurate information or statements to Lender (or failed to provide Lender with any ma.terial information) in connection with the loan evidenc� by the Note, including, but not limited to, representations concerning Borrower's occupancy of the Property as a principal residence. If this Security Instxument is on a leasehold, Borrower shall comply with the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and fee title sha11 not be merged unless Lender agrees to the merger in writing. 6. CondemnaHon. The proceeds of any award or claim for damages, dire.ct or consequential, in connection with any condemnation 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 Instrument. Lender shall apply such groceeds to the reduction of the indebtedness under the Note and this Security Instrument, first to any delinquent amounts applied in the order provided in pazagraph 3, and then to prepayment of principal. Any application of the proceeds to the principal shall not extend or postpone the due date of the monthly payments, which aze referred to in paragraph 2, or change the amount of such payments. Any excess proceeds over an amount required to pay a11 outstanding indebtedness under the Note and this Security Instrument sha11 be paid to the enrity legally entitled thereto. 7. Charges to Borrower and Protection of Lender's Rights in the Property. Borrower shall pay all governmental or municipal charges, fines and impositions that aze not included in paragraph 2. Borrower shall 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 sha11 promptly furnish 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 condemnation 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 im�urance and other items menrioned in pazagraph 2. Any amounts disbursed by Lender under this paragraph sha11 become an additional debt of Borrower and be s�ured by this Security Instrument. These amounts sha11 bear interest from the date of disbursement, at the Note rate, and at the option of Lender, sha11 be immediately due and payable. Borrower sha11 promptly dischazge any lien which has priority over this Security Inshvrnent unless Borrower: (a) agr�s 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 wluch in the Lender' s opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower sha11 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 Deb� (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 se�ured by this Security Inshvment if (i) Borrower 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, for a period of thirty days, to perform any other obligations contained in this Security Instrument. (b) Sale Without Credit Approval. Lender sha11, if permitted by applicable law (including Section 341(d) of the C'rarn-St. Germain Depository Institutions Act of 1982, 12 U.S.C. 1701j-3(d)) and with the prior approval of the Sec,retary, require immediate payment in full of all sums secured by this Security Instrument if: 11-07-000129 Initials: � � �-4N(NE) �oaa�) Page 4 of 8 �