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20�107400 abandoned Property. Boaower shall also be in default if Borrower, during the lo� application proces.�, gave materially false or inacxurate information or statements to Lender (or faileri to provide Lender with any material information) in caame�tion with the loan evidenced by the Note, including, but not limite�i to, r�ons concerning Bosower' a acxvpancy of the Property as a principal residence. If this Sec�mty Instrument is on a leasehold, Borrower shall �ly with the provisions of the lease. If Boaower acquires fee title to the Properly, the leasehold and fee title shall not be merged unle.ss Lender agrees to the merger in writing. 6. Condemnation, The proceeds of azry award or claim for damages, dire�t or consequential, in cunnect►on with any condemnation or other taking of any part of the Property, or for conveyance in place of condemnation, aze hereby assigned and shall be paid to Lender to the extent of the full amount of the indebtec�ess that remains impaid under the Nate and this Sec�mty Instrument Le�der svall apply such proceeds to the reduction of the indebtedness under the Note and this Security Instrument, first to any delinquent amouats applie� in the order provided in paragraph 3, and then to prepayment of principaL Any applic�tion of the proceeds to the principal shall not extend or postpone the due date of the monthly payments, which are referte3 to in paragraph 2, or cl�nge the amount of such payments. Any excess proceeds over an amount re�uirefl to pay all outstanding indebtedness under the Note and t1�is Security Instrument sball be paid to the entity legally entitled thereto. 7. Charges to Borrower and Protection of Lender's Rights in the Properiy. Borrower shall pay a11 governmental or municipal charges, fines and impositions 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 Properiy, upon Lender' s re�uest Bonower shall promptlY furnish to Lend�r r�eipts evidencing these payments. If Borrower fails to make these payments or the payments re�uirefl by paragraph 2, or fails to perform any other covenants and agr�ts contained in this Security Instrument, or there is a legal proceeding that may significantlY aff�;t Lender' s rights in the Properiy (such as a proceeding in banlu�uptcy, for condemnation or to enforce laws or regv.lations), then I,ender may do and pay whatever is necessary to prote�t 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 amow�ts disburse� by Lender under this paragraph shall become an additional debt of Borrower and be secured by this Security Instrument. These amounts shall bear interest from the date of dis�ent, at tlie Note rate, and at the option of Lender, shall be imme�iately due �d payable. Borrower shall promptly discharge any lien which has priority over this Se�urity Instcument unle� BorroR'er: (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 again.4t enforcement of the lien in, legal proceedings which in the Lender' s opinion operate to prevent the enforcement of the lien; or (c) se,cures from the holder of the lien an agreement satisfactory to I�nder subordinating the lien to this Security Instrument. If I.ender dete�inas that anY P� of the Property is subject to a lien which may attain priority over this Security Inst�ment, Lender maY give Borrower a notice identifying the lien. Bonower shall satisfy the liea ar take one or more of the acct'iions set forth above within 10 days of the giving of notice. 8. Fees. Lender may colle,ct fees and charges authorized by the Secretary. 9. Gronnds for Accelerat3on of Deb� (a) Def�ul� Lender may, except as limite� by regulations issued by the Secretary, in tha case of payment 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 re�uire� by this Security Instrument prior to ar on the due date of the next monthly payment, or (u) Bonower defaults by failing, for a period of thirly days, to perforna any other obligations contained 111 th1S SOCtiilty Tn. �rr►en�, (b) Sale Withunt Cr�it Approval. L�der sha11, if pennitted by applicable law (including Se�tion 341(d) of the Garn St. G�ermain Depasitory Institutions Act of 1982, 12 U.S.C. 1701j-3(d)) and with the prior approval of the Secretary, require imme�iate payment in full of all sums secured by this Security Instmm�ent � 2200].70874 V4I� i VMPC�-4N(NF� Ioao�).ot PaBe 4 of 8