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� ^ 98— a�ey��9 My 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 �terest irom the date of disbursement at the Note rate, and at the option of Lender, shall be immediately due and payable. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless BoROwer: (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 h, legal proceedhgs whbh in the Lendei's ophion operate to prevent the enforcement of the lien; or (c) secures from the hoider of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender deterrnines that any part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Bo�rower a notice identifying the Ilen. Borrower shall satisy the lien or take one or more of the actions set forth above withh 10 days of the giv�g of nofice. 8. Feea. Le�der may collect fees and charges authormed by the Secretary. 9. Grounds for Acceleration of Debt (a) Default. Lender may, except as Iknited by regulations issued by the Secretary in the case of payment defauRs, requKe immediate payment in tull of all sums secured by this Securky Instrument 'rf: (i) Borrower defaufts by fail�g 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) Bonower defaults by failing, for a period of thirty days, to perform any other obligations containad in this Security Instrument. (b) Sale Without Credit Approval. Lender shall, 'rf permitted by applicable law (includ�g section 341(d) of the GamSt Germain Depository Instkutions Act of 1962, 12 U.S.C. 1701 j-3(d)) and with the prior approval of the Secretary, require immediate payment in full of all the sums secured by this Security Instrument if: (i) All or part of the Property, or a benef'aial interest in a trust owning all or part of the Property, is soid or otherwise transferred (other than by devise or descent), and (ii) The Property is not occupied by the purchase� 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 � accordance wkh the requirements of the Secretary. (c) No Waiver. If ckcumstances occur that would permR Lender to require immediate payment in tuli, but Lender does not require such payments, lender does not waive its rights with respect to subsequent events. (d) Regulations Of HUD SeC�etary. In many circumstances regulations issued by the Secretary will limit Lender's rights, in the case of payment defauks, to require immediete payment in full and foreclose 'rf not paid. This Security Instrument does not suthorize acceleration or foreciosure ff not permitted by regulstions of the Secretary. (e) Mortgage Not Insured. Borrower agrees thet ff this SeCUrity Instrument and the Note 8re not determhed to be elig�le for insurance under the National Housing Act withk� # Of d8y8 L 0) fiom the date hereof, Lender may, at fts option require immediate payment in full of all sums secured by this Security Instrument. A written statem�t of any suthorized agent of the Secretary dated subsequent to # Of d8y8 (90) from the date hereof, decl�hg to hsure this Securky Instrument and the Note, shall be deemed conclusive proof of such heligibiliry. Notwkhstanding the foregoing, this option may not be exercised by Lender when the unavailebility of insurance is soley due to Lenders failure to remk a mortgage insurance premium to the Secretary. 10. Reinstatement. Borrower has a right 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 proceed�gs are instkuted. To reinstate the Security Instrument, Borrower shall tender in a lump sum all amounts required to br�g Borrower's account current includ�g, to the extent they are obligations of Borrower under this Security Instrument, foreclosure costs and reasonable and customary attomey's fees and expenses propery associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Security Instn.iment and the obligations that it secures shall remain in effect as 'rf Lender had not required immediate payment in full. However, Lender is not requKed to permit reinstatement 'rf: (i) Lender has accepted reinstatement after the commencement of foreclosure proceedings within two years �nmediatey preceding the commencement of a curcent foreclosure proceed�g, (ii) reinstatement will preclude forecbsure on different grounds in the future, or (iii) reinstatement will adversely affect the priority of the I'ien created by this Security Instrument. 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the t�ne of payment or modif"�cation of amorti:ation 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 Borrowers successor in interest. Lender shall not be requ�ed 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 orighal Borrower or Borrowers successors in interest. My forbearance by Lend� in exercising any right or remedy shall not be a waiver of or preclude the exercise of any ripht or remedy. 12. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenan�s and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and BoROwer, subject to the provisions of Paragraph 9(b). Borrower's covenants and agreements 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 �terest in the Property under the terms of this Securiry Instrument; (b) is not personaly obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Bonower may agree to extend, modify, forbear or make any accommodations with regard to the term of this Security Instrument or the Note wkhout that Borrowers consent. 13. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing k by first 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 Lenders address stated herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security Instn�ment shall be deemed to have been given to BoROwer 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 jurisdicCwn in which the Property Is located. In ths event that any provision or clause of this Security Instrument or the Note F5813.LM�(1/98) Paps 3 of 5