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20110732G abandoned Property_ Borrower shall also be in default if Borrower, during the loan application process, gave matcrially falsc or inaccuratc information or statcmcnts to Lcndcr (or failcd to providc Lcndcr with any matcrial information) in connection with the loan evidenced by the Note, including, but not limited to, representations conceming Bonower's occupancy of the Property as a principal residence_ If this Security Instnunent is on a leasehold, Borrower shall comply with the provisions of the lease_ If Borrower acquires fee title to the Property, the leatiehold dnd fee tille shall nol be merged unletis Lender agrees lo 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 conveyance in place of condeinnation, 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 indebtedness undcr thc Notc and tbis Sccurity Instnuncnt, first to any dclinqucnt amounts applicd in thc ordcr provided in paragraph 3, and then to prepayment of principal. Any application of the proceeds to the principal shall not extend or poslpone the due date of the monthly payments, which are referred to in paragraph 2, or change the amount of such payments. My excess proceeds over an amount requirecl to pay all outstanding indebtedness under the Note and this Security Inslrumenl shall be paid lo the enlily legally enlitled lhereto. 7. Charges to Borrower and Protection of Lender's Rights in the Property. Bonower shall pay all govertunental or ruunicipal charges, fines and iinpositions that are 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 shall promptly fumish to Lender receipts cvidcncing thcsc paymcnts. If Borrower faiis 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 signiticantly affect Lender's rights in the Property (such as a proceeding in bnnkruptcy, for condemnation or to enforce laws or regulalions), lhen Lender muy do and pay whatever is nec;es�ary lo prolecl lhe value of lhe Properly 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 Bonower and be secured by this Security Instrument. 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. Borrowcr shall promptly dischargc any licn which has priority ovcr this Sccurity Instrumcnt unlcss Borrowcr: (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 operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreemenl �litifaclory to Lender suhordinaling lhe lien lo this Security Inslrumenl_ If Lender determines lhat any parl of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Bonower a notice identifying the lien. Borrower shall satisfy the lien or take one or inore 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 Debt. (a) Default. Lcndcr may, cxccpt as limitcd by rcgulations issucd by thc Sccrctary, in thc casc of paymcnt defaults, require immediate payment in full of all sums secured by this Security Instrument if_ (i) Borrower defaults by failing to pay in full any monthly payment required by this Security Instrument prior lo or on the due dule oC lhe nexl monihly paymenl, or (ii) Borrower defaults by failing, for a period of thirty days, to perform any other obligations contained in this Security Instruinent. (b) Sale Without 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 of the Secretary, require immediate payment in full of all sums secured by this Security Instrument if_ ��-4R(NE) �sso�y Page 4 of 8 Initials �' ��