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20�20724� (ii) The Properly 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 Lender does not require such payments, Lender does not waive its rights with respect to subsequent events. (d) Regulations of HUD Secretary. In many circumstances regularions issued by the Secretary will limit Lender' s rights, in the case of payment defaults, to requite immediate payment in full and foreclose if not paid This Security Instrument does not authorize acceleration or foreclosure if not permitted by regulations of the Secretary. (e) Mortgage Not Insared. Borrower agrees that if this Security Instrument and the Note are not determined to be eligible for insurance under the National Housing Act within 6 0 DAYS from the date hereof, Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. A written statement of any authorized agent of the Secretary dated subsequent to 6 0 DAYS from the date hereof, declining to insure this Security Instrument and the Note, shall be deemed conclusive proof of such ineligibility. Notwithstanding the foregoing, this option may not be 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. Reinstatemen� Bonower has a right to be reinstated if Lender has required immediate payment in full because of Bonower's failure to pay an amount due under the Note or this Security Instrument. Tlus 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 obligarions of Bonower under this Security Instrument, foreclosure costs and reasonable and customary attomeys' fees and expenses properly associated with the foreclosure proceeding. Upon reinstatement by Borrower, 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 yeazs immediately preceding the commencement of a current foreclosute proceeding, (ii) reinstatement will preclude foreclosure on different grounds in the future, or (iii) reinstatement will adversely affect the priority of the lien created by this Security Instrument 11. Borrower Not Released; Forbearance by Lender Not a Waiver. Extension of the time of payment or modification of amortization 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 Bonower's successors 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 secuted by this Security Instrument by reason of any demand made by the original Bonower or Bonower' s successors in interest. Any forbeazance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 12. Successors and Assigns Bound; Joint and Several Liability; Co-Signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Bonower, subject to the provisions of pazagraph 9(b). Bonower's covenants and agreements shall be joint and several. Any Bonower who casigns this Security Instrument but does not execute the Note: (a) is casigning this Security Instrument only to mortgage, grant and convey that Bortower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by ttus Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodarions with regazd to the terms of this Security Instrument or the Note without that Bonower's consent. 13. Notic�. Any notice to Bonower provided for in this Security Instrument 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 a.ny other address Bonower designates by notice 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 Bonower. Any notice provided for in this Security Instrument sha11 be deemed to have been given to Borrower or Lender when given as provided in this paragraph. FHA NEBRASKA D� OF TRUST - MERS DoeMaglc� NmOTL.FHA 07/03/12 Page 5 of 9 www.docmaglc.com Illallll IIII III IIIIII Ila I I II I II II I I IIIIII IIIIII �I III