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201201861 (b) Sale Without Credit Approval. Lender shall, if permitted by applicable law (includittg section 341(d} af the Garu-St. Germain Depositary 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 sums secured by thus Security Instn�ment if: {i) All or part of the Property, or a beneficiai interest in a trust owning atl or part of the Property, is sold or otherwise transferred (other than by devise or descent), and (ii} T'he Property is not occupied by the purchaser or grantee as his ar her principal residence, or the purchaser ar grantee does so occupy the Property, hut his or her credit has not been approved in accordance with the requirements of the Secretary. (c} No Waiver. If cit�cumstances occur that would permit Lender to require immediate payment ut fizll, but Lender does not require snch payments, Lender does not waive its rights with respect to subsequent events. (d) Regulatians a£ HUD Seeretary. �n znany circw��stances regulations issued by the Secretary will limit Lender's rights, in the case of payment defaults, to require i.tnmadiate payment in full and foreclase if not paid. This Security Instrument does not authorize acceleration or foreclosure if not permitted by regula#ions of the Secretary. {e) Mortgage Not Insu�red. Bonrower agrees that if this Security Instt�ument and the Note aze not deterrnined to be eligible for insurance under the National Housing Act within 6d days from the date hereof, Lender may, at ifis aption require immediate payment in full of aII sums secured by this Security Instrument. A written statement of any authorized agent of the Secretary dated subsequent to 60 days from the date hereof, declining to insur8 this Secunity Ia:stn�ruent and the Note, shall be deerned conr•lusive proof of such ineligibitity. Notwithstanding the foregoing, this option may not be exercised by Lender when the unavailability of insurance is solely due to Lander's failure to remit a mortgage insurance premium to the Secretary. l0. Reinstatemen�. Borrower has a right ta be reinstated if Lender has required immediate payment in full because of Borrower's failure to pay an amount due under the Note ar this Security Instrument. This right applies even after fareclosure proceedings are instituted. To reinstate the Security Instrument, Borrower shall tender in a lump sum all amounts required to bring Boirowez's account current including, to tbe extent they are obligations of Borrower under this Securitty bast,ruuaent, foreclosure costs and reasonabje and customary attorneys' fees and expenses properly associated wifih the foreclosure proceeding. Upon reinstateznent by Borrower, this Security Inst�vment and the obligations that it secures shall remain in effect as if Lender had not requ.ired immediate payment in full. However, Lender is not required to permit reinstatement if: {i) Lender has accepted reinstatement after the commencemenY of fareclosure proceedings within two years zmnnediately preceding the commencement of a current foreclosure proceedang, (ii) reinstatement will preclude foreclosure on different grounds in the future, or {iuj reinstatement wiil adversely afFect the priority of the lien created by this Security InstrUment. 11. Borrower Not Released; �'arbearance by Lender Not a Waiver. Extension of tl�e tinne of payment or modification of amortization ofthe sums secueed by this Security Instnunent granted by Lender ta any successor in interest of Borrower shall not operate to release the liabiliry of the original Borrower or Borrower's successors in i.nterest. Lender shalt not be required to commence proceedings aga.inst any successor in in#erest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Insixument by reason of any demand made by tlae original Bonower or Barrower's successors in interest. Any forbeaeance by Leuder in exercising any right or remedy shall not be a waiver of or preclude #he exercise of any right or remedy. 12. Successors and Assigns Bound; Joiat aud Several Liability; Co-Signers. The covenants and agreements af 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 cavenants and agreements shall be joint and several. Any Borrawer who co-signs this Security Instniment but does nat execute the Note: (a} is co-signing this Security Instrument only to mortgaga, grant and canvey t1�at Borrower"s interest in the Properiy under the terms of tlus 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 eactend, modify, forbear or rnalce any accommadations with regard to the fierms of this Security Instrument or the Note withaut that Borrower's consent. NEBRASKA FHA 13EED OF TRUST NEBRASKA-MERS REM 2698L5 (091911) BAYNE,C0000441 S81 6(96 GrealDocs� (Page b of 9} oaao�a�ss�