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20�20743� exercised by Lender when the unavailability of insurance is solely due #o Lender's failure to remit a mortgage �n�� premium to the 5ecretary. 10. Reinstetement. Borrower 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 Security Instrument. This ri$lit applies even after foreclosure proceedings aze instituted. To reinstate the Security Instrument, Borrower shall tender in a lump sum all amounts required to bring Borrower's account current including, to the extent they are obligations of Borrower under this Security Instrument, foreclostue costs and reasonable and cusYomary attorneys' 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 years immediately preceding the commencement of a current foreclosure proceeding, (ri) reinstaf,ement will preclude foreclosure on different grounds in the future, or (ui} reinstatement will adversely affect the priority of the lien created by this Security Instrument. 11. Borrower Not Releesed; Forbearence By Lender Not a Waiver. Extension of the time of payment or modification of amortization of fhe sums secured by this Security 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 commence proceedings against any successor in interest or refiise to extend time for payment or otherwise modify amortization of the sums �� secured by this Security Instrument by reason of any demand made by the original Bortower or Borrower's successors in interest. A� forbearance 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 end Assigns Bound; Joint and Severel 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 para.graph 9(b). Borrower's covenants and agreements sha11 be joint and several. A� Borrower who co-signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Insirument only to mortgage, grant and convey tha.t 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 5ecurity Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, moclify, forbear or ma.ke any accommodadons with regard to the terms of this Security Instrument or the Note without that Borrower's consent. 13. Notices. Any notice to Borrower 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 Properiy Address or any other address Bortower 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 Borrower. Airy 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. Goveming Law; Severebility. This Security Insttvment shall be governed by Federal law and the law of the jutisdiction in which the Progerty is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, sucfi 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 pmvisions of this 5ecurity Instrument and the Note are declared to be severable. 15. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Insttvment. FHA Deed o} Ttust�NE 4/88 VMP � VMP4R(NEi (it061.00 Wolmrs Kluwar Financlal Servicea Page 6 of 10