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Any amounts disbursed 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 disbursement at the Note rate, and at the option of Lender, shall be immediately due and payable. BoROwer shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a mann�acceptabie 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 (rom the holder of the lien an agreement satisfactory to Lender subordinatng 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 shaii satisfy the lien or take one or more of � the actions set forth above wRhin 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. f � 8 D@fBUI�. Lender ma , exce t as limited b r ulations issued b the Secreta w � � Y P Y e9 y ry in the case of payment defauRs, require immediate payment in full of all sums secured by this Securky Instrument 'rf: � (i) BoROwer defauRs by failing to pay in full any monthly payment requ�ed by this Security Instrument prior to or on the due date of the next monthly payment, or N (ii) Borrower defaufts by failing, for a period of thirty days, to pertorm any other obligations contained in this Securfty Instrument. (b) Sale Without Credit Approval. Lender shall, 'rf permitted by applicable law (including section 341(d) of the Gam-St Germain Depository Instkutions Act of 1982, 12 U.S.C. 1701j-3(d)) and wkh the prior approval of the Secretary, requke immedfate payment in full of all the sums secured by this Securiry Instniment if: (i) AII or part of the Property, or a beneficial �terest in a trust owning all or part of the Property, is sold or otherwise transferred (other than by devise or descent), and (ii) The Property is not occupied by the purchaser or grantee as his or her principal residence, or the purchaser or grantee does so occupy the Property, but his or her credit has not been approved h accordence with the requirements of the Secretary. (C) NO Waiver. If circumstances occur that would permit Lender to require immediate payment ln full, but Lender does not require such payments, Lender does not waive its rights with respect to subsequent events. (d) R@gulatiOnS Of HUD S@Cret81'y. In many circumstances regulations issued by the Secretary will limit Lenders rights, in the case of payment defaufts, to require immediate payment in fuli and foreclose if not paid. This Security Instrument does not authoriae acceleration or foreclosure 'rf not permitted by regulations of the Secretary. (e) Mortgage Not Insured. Borrower agrees that 'rf this Securky Instrument and the Note are not determined to be eligible for insurance under the National Housing Act within # Of d8y8 (90) from the date hereof, Lender may, at its option require immediate payment in full of all sums secured by this Security Instrument. A wr'men statement of any suthorized agent of the Secretary dated subsequent to # Of d8y8 (90) from the date hereof, declining to insure this Security Instrument and the Note, shall be deemed conclusive proof of such ineligibility. Notwithstanding the foregoing, this option may not be exercised by Lender when the unavailability of insurance is soley due to Lender's failure to remit a mortgage msurance premium to the Secretary. 10. Reinstatement. Borrower has a right to be reinstated 'rf Lender has required immediate payment in full because of Bonowe�s failure to pay an amount due under the Note or this Security Instrument. This right applies even aRer foreclosure proceedings are instituted. To reinstate the Security Instrument, Bonower shall tender � a lump sum all amounts required to bring Borrowets account current including, to the extent they are obligations of Borrower under this Securky instrument, foreclosure costs and reasonable and customary attomey's fees and expenses properly associated wRh the foreclosure proceed�g. Upon reinstatement by Borrower, this Security Instrument and the obligations that it secures shall remain in effect as 'rf Lender had not requi�ed immediate payment h full. However, Lender is not required to pem►it reinstatement 'rf: (i) Lender has accepted reinstatement after the commencement of forecbsure proceedings withfn two years immediately preceding the commencement of a current foreclosure proceeding, (ii) reinstatement will preclude forecbsure on different grounds in the future, or (iii) reinstatement will adversely affect the priority of the lien created by this Security Instrument. 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time of payment or mod'rfication of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the origmal Borrower or Borrowers successor in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. My forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 12. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenancs and agreements of this Security Instrument shall bind and benefit the successors and assfgns of Lender and Borrower, subject to the provisions of Paragraph 9(b). Borrower's covenants and agreements shall be joint and several. My BoROwer who co-signs this Security Instrument but does not execute the Note: (a) is co-sign�g this Security Instn.iment ony to mortgage, grant and convey that Borcowers interest in the Property under the terms of this Security Instrument; (b) is not personaliy obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the term of this Security Instrument or the Note without that Borrower's consent. 13. Notices. My notice to Borrower provided for in this Security Instrument shall be given by delivering k or by mailing ft by first class mail unless applicable law requires use of another method. The notbe shall be directed to the Property Address or eny other address BoROwer designates by notice to Lender. My notice to Lender shall be given by first class mail to Lender's address stated herein or any address Lender designates by notice to Borrower. My notice provided for in this Security Instrument shall be deemed to have been given to Borrow� or Lender when given as provided in this paragraph. 14. Governing Law; Severability. This Security Instrument shall be govemed by Federal law and the law of the Jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note F5813.LM0(t/98) Page 3 of 5