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20120766� 7. Charges to Borrower and Protection of Lender's Rights in the Property. Borrower shall pay all governmental or municipal charges, flnes and impositions that are not included in paragraph 2. Borrower shall pay these obligaflons on tlme direcdy to the entity which is owed the payment. If failure to pay would adversely affect Lender's interest in the Property, upon Lender's request Borrower shall prompdy furnish to Lender receipts evidencing these payments. If Borrower faiLs to make these payments or the payments required by paragraph 2, or fails to perform any other covenants and agreements contained in this Security Inswment, or there is a legal proceed9ng that may significandy affect Lender's dghts in the Property (such as a proceeding in bankruptcy, for condemnaflon or to enforce laws or reguladons), then Lender may do and pay whatever is necessary to protect We value of the Property and Lender's dghts in the Property, including payment of taxes, hazard insurance and other items mentioned in paragraph 2. Any amounts disbursed by Lender under this paragraph shall become an addiflonal debt of Borrower and be secured by this Secuntty Instrument. These amounts shall bear interest from the date of disbursement at the Note nte, and at the option of Lender shall be immediately due and gayable. Borrower shall promptly discharge any lien which has priority over this Security Inshvment unless Borrower: (a) agrees in writing to the payment of We obligaflon secured by the lien in a manner acceptable to Lender; (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 the Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over this Securlty Inshvment, Lender may give Borrower a notice identlfying the lien. Borrower shall satisfy the lien or take one or more of the acHons set forth above within 10 days of the giving of notice. 8. Fees. Lender may collect fees and charges authorized by We Secretary. 9. Grounds for Acceleration of Debt. (a) Default. Lender may, except as limited by regulations issued by the Secretary in the case of payment defaults, require immediate payment in full of all sums secured by this Security Instrument if: (i) Borrower defaults by failing to pay in full any montjily payment required by this Security Instrument prior to or on the due date of the next monthly payment, or (ii) Borrower defaults by failing, for a pedod of thirty days, to perform any other obligaflons contained in this Secutlty Instrument. (b) Sale Without 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 immediate payment in full of all sums secured by this Security Instnvment if: (i) All or part of the Property, or a beneficial interest in a trust owning all or part of the Property, is sold or othervvise transfened (oWer 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 circurastances 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 regula8ons 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 Security Instrument does not authorize acceleration or foreclosure if not permitted by regulations of the Secretary. (e) Mortgage Not Insured. Borrower agrees that if this Security Instr�ment and the Note are not determined to be eligible for insurance under the National Housing Act within 30 DAYS from the date hereof, Lender may, at its option require immediate payinent in full of all sums secured by this Security Instrument. A written statement of any authorized agent of the Secretary dated subsequent to 30 DAYS from the date hereof, declining to insure th9s C�CC - 7 590�NE (08/11) Page 4 of 8 InlUals: �� v l� e� �