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�o�� significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, for condemnation or to enforce laws or regulations), then I,ender may do and pay whatever is necessary to protect the value of the Property and Lender's rights in the Property, including payment of taxes, hazard insurance and other items mentioned in paragraph 2. Any amounts disbursed by I.ender under this paragraph shall hecome an additional debt of Borrower and be secured by this Security Instrument. These amounts shall bear interest from We date of disbursement, at the Note rate, and at the option of Lender, shall be immediately due and payable. Borrower shall prompdy 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 enforcemenl of the lien in, legal proceedings which in the Lender's opinion operate to prevent We enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordivating the lien to this Security Instrument. If Lender determines that any part of the Properiy is subject to a lien which may attain priority over khis Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy 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 authorized by the Secretary. 9. Grounds for Acceleretion of Debt. (a) Default. Lender may, except as limited by regulations issued by the Secretary, in the case of payment defaults, require immediate payment in full of all sums secured by this Security Instrument if: (i) Borrower defaults by failing 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 defaults by failing, for a period of thirty days, to perform any oWer obligations contained in this Security Instrument. {b) Sale Wlthout Credit Approval. Lender shall, if permitted by applicable law (including Section 341(d) of the Garn-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 sums secured by this Security Instrument if: (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 principal residence, or the purchaser or granlee does sc� occupy the Pruperty but his or her credil has not been approved in accordance with the requirements of the Secretary. (e) No Waiver. If circumstances occur that would permit Lender to require immediate payment in full, but Lender does not require such paymenls, Lender does not waive ils rights wilh respect to subsequent events. (d) Regulations of HUD Seeretary. In many circumstances regulations issued by the Secretary will limit Lender's rights, in the case of payment defaults, to require immediate payment in full and foreclose if not paid. This Security Instivment does not authorize acceleration or foreclosure if 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 within 60 days from the date hereof, Lender may, at its option, require immediate payment in full of all sums secured by this FHA Mortgage WITH MERSNE VMP � Woltars Kluwar Financial Sarvicea III IIII"III III �IIII Illu'I'lll I III I IIII IIII I III q03306051298 0233 393 0510 Revised 4/98 Amendad 7/04 VMP4NINEI 11 1061.00 Paga b ot 10