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201202174 exercised by Lender when the unavailability of insurance is solely due to Lender's failure to remit a mortgage insurance premium to the Secretary. 10. Reinstatement. Bonower has a right to be reinstated if Lender has required immediate payment in full because of Borrower's failure to pay an amount due under the Note or this Se�curity Instniment. This right applies even after foreclosure proceedings aze instituted. To reinstate the Security Instrument, Bonower shall tender in a lump sum all amounts required to bring Bonower's account current including, to the extent they are obligations of Bonower under this Security Instrument, foreclosure costs and reasonable and customary attomeys' fees and expenses properly associated with the fore,closure proceeding. Upon reinstatement by Bonower, this Security Instrument and the obligations that it secures shall remain in effect as if Lender had not required immediate payment in full. However, Lender is not required to permit reinstatement if: (i) Lender has accepted reinstatement after the commencement of foreclosure proceedings within two yea.rs immediately preceding the commencement of a current foreclosure proceeding, (ii) reinstatement will preclude fore,closure on different grounds in the future, or (iii) reinstatement will adversely affect the priority of the lien created by this Security Instrument. '�'!. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time of payment or modification of amortizarion of the sums secured by this Security Instrument granted by Lender to any successor in interest of Bonower 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 modify amortization of the sums s�ured by this Secu.rity Instrument by reason of any demand made by the original Borrower or Borrower's successors iu inter�t. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or greclude the exercise of any right or remedy. 12. Successors and Assigns Bound; Joint and Several Liability; Ca-Signers. The covenants and agreements of this Security Instrument shall bind and henefit the successors and assigns of Lender and Borrower, subje,ct to the provisions of pazagraph 9(b). Borrower's cove�ants and agreements shail be joint and several. Any Borrower who co-signs this Security Instniment but does not execute the Note: (a) is co-signing this Security Instrument only 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 S�urity Instrument; and (c) agr�s that Lender and any other Borrower may agre.e to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. 13. Motices. Any notice to Bonower provided for in this Security Instrumern shall be given by delivering it or by mailing it 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 norice to Lender. Any 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. Any 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 S�urity Instnunent shall be governed 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 conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note aze declazed to be severable. 15. Borrower's Copy. Bonower shall be given one conformed copy of the Note and of this Security Instrument. FHA Deed of Trust-NE 4/96 VMP � VMP4R�NE) (1709) Wokers Kluwer Financial Services Page 6 of 10