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9$-i�13841 ' My amounts disbursed by Lender under this Paragraph shall become an addkiona� debt of Borrower and be secured by this Security Instnament. 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. Borrower shall prompty 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 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 agreement satisfactory to Lender subordinathg the lien to this Securky 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 identitying the lien. Borrower shall satisfy the lien or teke one or more of the actions set torth above wkhin 10 days of the giving of notice. 8. Fees. Lender may coilect fees and charges suthorized by the Secretary. 9. Grounds for Acceleration of Debt. (a) Default. Lender may, except as limited by regulations issued by the Secretary in the case of payment defaufts, require immediate payment in full of all sums secured by this Security Instrument 'rf: (i) Borrower defaufts by falling to pay in full any monthly payment required by this Security Instrument prior to or on the due date of the next monthly payment, or (ii) Borrower defauRs by failing, for a period of thirty days, to pertorm any other obligations contained in this Secur'ity Instrument. (b) Sale Without Credit Approval. Lender shall, 'rf permitted by applicable law (including section 341(d) of the Gam-St Gertnain 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 Instrumant 'rf: (i) All or part of the Property, or a beneficial interest in a trust own�g 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 credR has not been approved in accordance with the requirements of the Secretary. (C) NO Waiver. If circumstances occur that would permit Lender to require immediate payment � full, but Lender does not require such payments, Lender does not waive its rights wkh 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 defaufts, to require immediate payment in full and foreclose if not paid. This Security tnstrument does not suthorize acceleration or foreclosure if not permitted by regulations of the Secretary. (e) Mortgage Not Insured. Borrower agrees that 'rf this Security Instrument and the Note are not determined to be eligible for insurance under the National Housing Act within # of days (90) irom the date hereof, Lender may, at its 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 day8 (90) (rom the date hereof, deciining to insure this Security Instrument and the Note, shall be deemed conclusive proof of such inelig�ility. NotwRhstanding the foregoing, this option may not be exercised by Lender when the unavailabilky of insurance is solely due to Lenders failure to remit a mortgage insurance premium to the Secretary. 10. Reinstatement. Borrower has a right to ba 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 I�strument. This right applies even after foreclosure proceedings are instituted. To reinstate the Security Instrument, Borrower shall tender in a lump sum all amounts required to bring Borrower's account cuRent including, to the extent they are obligations of BoROwer 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 'rf 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) re�statement will preciude 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 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 original Borrower or Borrower's 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 modi(y 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. Tne covenancs and agreements of this Securiry instrument shall bind end benefit the successors and assigns of Lender and BoROwer, subJect to the provisions of Paragraph 9(b). BoROwer's covenants and agresments shall be joint and several. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is co-signing 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 personaly obligated to pay the sums secured by this Security Instrument; and (c) agr�es that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations wkh regard to the terrn of this Security Instrument or the Note without that Borrower's consent. 13. NOtIC@S. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by meiling it by first class mail unless applicable Iaw 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 f�st 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 bcated. In the event that any provision or clause of this Security Instrument or the Note F5a13.LM�(1/68) Paye 3 of 5