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201 205460 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. Borrower has a right to be reinstated if Lender has required immediate payment in full b�ause of Bonower's failure to pay an amount due under the Note or this Security Instrument. This right applies even after for�losure proceedings are instituted. To reinstate the Security Instrument, Borrower shall tender in a lump sum all amounts required to bring Bonower's account current including, to the extent they aze obligarions of Bonower under this S�urity Instrument, foreclosure costs and reasonable and customary attomeys' fees and expenses properly associated with the foreclosure procee�ing. Upon reinstatement by Borrower, tYus Security Instrument and the obligations that it se,cures shall remain in effect as if Lender had not required immediate payment in full. However, Lender is not required to permit reinstatentent if: (i) Lender has accepted reinstatement after the commencement of foreclosure proceedings within two years immediately preceding the commencement of a current fore,closure proceeding, (ii) reinstatement will preclude foreclosure on different grounds in the future, or (iii) reinstatement will adversely aff�t the priority of the lien ereated by this Security Instrument. 11. Borrower IVot Released; Forbearance By Lender Not a Waiver. Extension of the time of payment or malification of amortization of the sums s�ured by this S�urity Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successor in interest. Lender shall not be required to co�erice proceedings against any successor in interest or refuse to extend rime for payment or otherwise modify amortization of the sums secuse� by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preeIude the exercise of any right or remedy. 12. Successors and Assigns Bound; .loic�t and Several Liabifity; Co-Signers. The covenants and agreements of this Security Instruaient shatl bind and benefit the successors and assigns of Lender and Borrower, subje,�t to the provisions of paragraph 9(b). Bonower's covenants and agreements shall be joint and several. Any Borrower who co-signs this 5ecurity Instrament but does not ex�ute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's interest ia the Property under the terms of this Security Iastrument; (b) is not gersonally obligated to pay the sums secured by this Security Instrument; and (c) agr�s that Lender and any other �rrower may agree to extend, modify, forbear or make any accc>mmodations with regazd to the terms of this Security Instnunent or the Note without that Bortower's consent. 13. Notices. Any norice to Borrower provided for in this Security Instnunent sha11 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 Bonower designates by norice to Lender. Any norice to L�nder shall be given by first class mail to Lender's address stated herein or any address Lender designates by notice to Bonower. Any notice provided for in this Security Instniment shall be dcemed to have be,en given to Bonower 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 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 are declazed to be severable. 15. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. FHA Deed of Trust-NE 4/96 VMP � VMP4RWE) (1109) Woltera Kluwer Finandal Services Page 8 of 10 n ta