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20 �207464 Security Instrwnent. A written statement of any authorized agent of the Secretary dated subsequent to 60 days from the date her�f, declining to insure this Security Instrument and the Note, shall be deemed conclusive proof of such ineligibil'ity. 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. Relnstatement. 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 right applies even after forecloswe proceedings are instituted. To reinstate the Secwity Instrument, Borrower shall tender in a lump sum all amounts required to bring Borrower's account current including, to the extent they aze obligations of Bonower under this Security Instrument, foreclosure costs and reasonable and customary attorneys' fees and expenses properly associated with the foreclosure proceeding. Upon reinstatement by Bonower, this S�urity 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 fore,closure proceedings within two years immediately preceding the commencement of a current foreclosure procceding, (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 Watver. 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 Borrower shall not operate to release the liability of the original Bonower or Bonower's successor in interest. Lender shall not be required to commence praceedings against any suc.cessor in interest or refuse 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 Borrower or Borrower' s successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or pr�lude the exercise of any right or remedy. 12. Successors and Assigns Bound; Joint and Several Liabllity; Co-Stgners. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 9(b). Bonower's covenants and agreements shall be joint and several. Any Bonower who casigns this S�urity Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Sec�uity Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrces that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Se,curity Instrument or the Note without that Borrower' s consent. 13. NotiCes. Any notice to Bonower provided for in this Security Inshvment 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 dire,cted to the Properly Address or any other address Borrower 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 designat� by notice to Borrower. Any notice provided for in this S�urity Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 14. Goveming Law; Severability. T'his Security Instrument shall be governed by Federal law and the law of the jurisdiction in which the Property is loc,ated. 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 Secwity Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Secwity Instrument and the Note are declared to be severable. 8801288840 8801298840 FHA Mortgage WRH MERS-NE Reviead 4/98 VMP � � VMP4N(Nq (1109) Wolters Kluwer Finenclal Services Pege 8 0( 10 �� �