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2 0120366� significanfly affect Lender's rights in the Progerty (such as a proceeding in banl�uptcy, for wndemnation or to enforce laws or regulations), then Lender may do and pay whatever is necessary to protect the value of the Properiy and Lender's rights in the Properiy, including payment of taxes, hazard insurance and other items mentioned in paragraph 2. Any amounts disbursed by Lender under this paragraph shall bec:ome an additional debt of Borrower and be secured by this Security Instrument. These amounts shall beaz interest from the date of disbursement, at the Note rate, and at the option of Lender, shall be immediately due and payable. Borrower shall prompfly discharge any lien which has priority over this Security Instrament unless Borrower: (a) agrees in writing to the payment of the obligation securet� by the lien in a manner acceptable to I,ender; (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 I,ender subordinating the lien to this Security Instrument. If Lender determines that azry part of the Properiy is subject to a lien which may attain priority over this Security Instrument, Lender may give Boaower 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 suthorized 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 paymeat in full of all swns secured by this Security Instrument if: (i) Borrower defaults by failing to pay in full azry monthly payment required by this Security Instrument prior to or on the due date of the next monthly payment, or (ri) Borrower defaults by failing, for a period of thirty days, to perform any other obligations contained 'an this Security Instrument. (b) Sale M/ithout 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 immed'aate payment in full of all sums secured by this Security Instzument if: (i) All or part of the Properiy, or a beneficial interest in a trust owning all or part of the Properiy, 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 grantee does so occupy the Property but his or her credit 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 in full, but I.ender does not require such payments, Lender does not waive its rights with respect to subsequent events. {d) Reguletions of HUD Secretary. 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 Securi9.y Instrument does not authorize acceleration or foreclosure if not permitted by regulations of the Secretary. (e► Mortgage Not Insured BOifOWOT Sgi�3 t118i lf tt11S SCC11Tlty Tn �.ne*e+ and the Note are not determined to be eligible for insurance under the National Housing Act within 60 days from the date hereof, Lepder may liL 14l O�I4OII' require immediate payment in full of all sums secured by this FHA Mortgage WITH MERSNE Ravised 4f98 Amanded 7/04 VMP � VMP4NINE1111061.� Woltete Kluarer Flnandel Services Page 6 of 10 �i iu�mii m oi ii aimi o � i ii a iiii ii m m