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�o��o�� abandoned Property. Borrower shall also be in default if Borrower, during the loan applic�tion process, gave materially false ar inaccurate information or statements to Lender (or failerl to provide Lender with any material infovnation) in coffie�rion with the lo� evidenced by the Note, including, but not limited to, repres�tations concerning Bonower' s occupancy of the Property as a principal residence. If this Security Instrument is on a leasehold, Borrower shall comply with the provisions of the lease. If Bonower acxluires fee title to the Property, the leasehold and fee title shall not be merged unless Lender agre� to the merger in writing. 6. Condemnation The proceeds of any award or claim for damages, direct or conse�uential, in connecrion with any condemnation or other taking 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 tha indebtedness that remains unpaid under the Note and this Sec�mty Instrument Lender sha11 apply such procc�ds to the reduction of the indebtec�ess under the Note and this Se�urity Instrument, first to any delinquent amQUnts applied in the order provided in paragraph 3, and then to prepayment of principal. Any application of the procee�s to the principal shall not eactend or postpone the due date of the monthly payments, which are referre� to in pazagraph 2, or ahange the amount of such payments. Any excess procee�s over an amount require� to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity legally entitled thereto. 7. Charges to Borrower and Protection of Lender's Rights �1n the Property. Borrower shall pay all goveinmental or municipal charges, fines and impositions that are not included 'm pazagraph 2. Bonower shall pay these oblig�ations on time dire�tly to the entity which is owed the payment. If failure to pay would adversely affec:t Lender' s interest in the Property, ►�pon L,ender� s reclnest Bonower shall promPtlY furnish to Le�der receipts evidencing these payments. If Borrower fails to make these payments or the payments require� by p�ph Z, or fails to perform any other covenants and agreements contained in this Se�urity Instrument, or there is a legal proceeding that may significantly affe�t Lender° s rights in the Property (such as a proceeding in banl�uptcy, for condemnation or to enforcx laws or regulations), then Lender may do and pay whatever is necessary to prote�t the value of the Property and Lender' s rights in the Properiy, including payment of taxes, hazard insurance and other items mentioned in pazagraph 2. Any m�nounts disburse� by Lender under this paragraph shall bei:ome an additional debt of Bonowar and be secured by this S�urity Instrument. These aznounts shall beaz interest from the date of disbursement, at the Note rate, and at the option of Lender, shall be immediately due and payable. Borrower sha11 promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agr�s in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; @) 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 enforcement of the lien; or (c) secures from the holder of the liea� an agreement satisfactory to I.ender subordinating the lien to this Se�urity Instr�nnent. If Lender determines that any part of the Property is subje�t to a lien which may attain priority over this Security Instrument, I-ender 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. Fees. I,ender may colle,ct fees and charges authorized by the Secretary. 9. Grnnnds for Acceleration of Deh� (a) Defaul� Lender may, except as limited by regulations issued by the Ser,retary, in the case of payment defaults, require immediate payment in full of all sums s�ure� by this Security Instrament if: (i) Borrower defaults by failing to pay in full any monthly payment require3 by this Se�urity Instrument prior to ar on the due date of the next monthly payment, or (ri) Bonower defaults by failing, for a period of thirty days, to perform any other obligations contained in this Security Instrument. (b) Sale Withont Credit Approval. 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 �f the Se�retazy, require immediate payment in full of all sums secured by this Security Instrument if 2200154009 D V4NNE mw�:� — VMP�-4N(Nq �oao�I.o� Page 4 of 8 � c