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. 98- 1��3834 My amounts disbursed by Lender under this Paragraph shall become an eddkional 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 immediatey due and payable. Borrower shall prompty discharge any lien which has priority over this Security Instrument unless Borcower. (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faRh the Hen by, or defends against enforcement of the lien in, legal proceedings which in the Lenders 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 Ifen which may attain priority over this Security Instrument, Lender may give Borrower a notice identiying the lien. Borrower shall satisy 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 suthorized by the Secretary. 9. Grounds for Acceleration of Debt. (a) Defaul� �ender may, except as limited by regulations issued by the Secretary in the case of payment defauRs, requke �nmediate peyment in full of ali sums secured by this Security Instrument 'rf: (i) Borrower defaufts by failing to pay in full any monthly payment requ'red by thls Security Instrument prior to or on the due date of the next monthy payment, or (ii) Borrower defauRs by failing, for a period of thirty days, to perform any other obligations contained in this Security Instrument. (b) Sale Without Credit ApprovaL Lender shall, 'rf permitted by applicable law (includ'mg section 341(d) of the Gam-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 the sums secured by this Security Instrument 'rf: (i) All or part of the Property, or a beneficial interest 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 princ�al residence, or the purchaser or grantee does so occupy the Property, but his or her credit has not been approved in accordance with the requirements of the Secretary. (C) NO W81V@I'. If cKCUmstances occur that would permk Lender to require �nmediate payment in full, but Lender does not require such payments, Lender does not waive its rights with respect to subsequent events. (d) Regulations of HUD Secretary. In many circumstances regulations issued by the Secretary will limit Lender's rights, in the case of payment defauks, to require immediate payment in fuN and forecbse 'rf not paid. This Securiry Instrument does not authorize acceleration or foreclosure 'rf not permitted by regulations of the Secretary. (e) Mortgage Not Insured. Borrower agrees that if this Security Instrument and the Note are not determined to be eligible for insurance under the National Housing Act wkhin # of days (90) irom the date hereof, Lender may, at Rs option require immediate payment in full of all sums secured by this Security Instrument. A written statement of any suthorized agent of the Secretary dated subsequent to # Of dByS (90) from the date hereof, declining to insure this Security instrument and the Note, shall be desmed conclusive proof of such inelig�ility. Notwithstanding the foregoing, this option may not be e�cercised by Lender when the unavailability of insurance is soley due to Lender's failure to remit a mortgage insurance premium to the Secretary. 10. Reinstatement. Borrower has a rght to be reinstated 'rf Lender has required immediate payment in full because of Borrower's failure to pay an amount due under the Note or this Security Instrument This right applies even aRer forecbsure proceedings are instituted. To reinstate the Security Instrument, Borrower shall tender in a lump sum all amounts required to bring Borrowers account current including, to the extent they are obligations of Borrower under this Security Instrument, foreclosure costs and reasonable and customary attomey's fees and expenses properly associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Security Instrument and the obligations that it secures shall remain in effect as ff Lender had not required immediate payment in full. However, Lender is not required to permit reinstatement 'rf: (i) Lender has accepted reinstatement after the commencement of foreclosure proceedings within two years immediately preceding the commencement of a current foreclosure proceeding, (ii) reinstatement will preclude foreclosure on different grounds in the future, or (iii) reinstatement will adversey 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 amortiiatbn of the sums secured by this Security instrument granted by Lender to any successor in interest of Borrower shall not operate to release the Ifability of the original BoROwer or Borrowers successor in interest. Lender shall not be required to commence proceedhgs against any successor in hterest 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. Any 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. Tne covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of Paragraph 9(b). Borrower's covenants and agreements shall be Jotnt and several. My Borcower who co-signs this Security Instrument but does not euecute the Note: (a) is co-sipning this Security Instrument ony to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modiry, forbear or make any accommodatbns with regard to the term of this Security Instrument or the Note without that Bonower's consent. 13. Notices. My notice to Borrower provided for in this Securky Instrument shall be given by delivering it or by mailing it by f�st class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borrower 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 Borrower 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.LMa(1/98) Paps 3 of 5