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201208122 significan[ly affect Lender's rights in the Property (such as a proceeding in bankruptcy, for condemnation or to enforce laws or regulations), then Lender may do a�d pay whatever is necessary to protect the value of the Property and Lender's rights in the Property, lnduding payment of taxes, hazard insurance and other items mentioned in paragraph 2. Any amounts disbursed by Lender under this paragraph shall become an additional debt of Borrower and be ' secured by this Security InstramenL These amounis shall bear inleres[ from the date of disbursement, a[ the Note rate, and at the option of Lender, shall be immediately due and payable. Borrower shall prompUy discharge any lien which has priority over this Securi[y Instrument unless Borrowec (a) agrees in writing [o (he payment of the obligation secured by the lien in a manner acceptable [o Lender, (b) contes[s in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to preven[the enforcemen[of ihe lien; or (c) secures from the holder of the IIen an agreemen[satisf'actory to Lender suhordinating the lien to [his Security Instrument. If Lender determines that any part of the Properly is subjec[ to a lien which may attain priorily over this Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy tt�e lien or take one or more of the actions set forih a6ove within 10 days of the giving of nolice. 8. Ffles. Lender may collect fees and cl�arges authorized by the Secretary. 9. Grounds for Acceleration of Debt. (a) Default. Lender may, except as limiled by regula[ions 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 f'ull any monthly paymenl required by this Security Instrument prior to or on[he due da[e of the next monthly payment, or (ii) Borrower defaults by failing, for a period of thirly days, to perform any other obligations contained in [his Security Instrumen[. (b) Sale Without Credit ApplovaL Lender shall, if permitted by applicable law (including Sec[ion 341(d) of the Garn-SL Germain Deposirory Ins[itutions Act of 1982, 12 U.S.C. 1701j-3(dj) aud with the prior approval of the Secretary, require immediate payment in fall of all sums sewred by this Securi[y Instruinent if: (i) All or part of[he Property, or a beneficial interest in a trust owning all or part of the Property, is sold or othercvise transferred (other than by devise or descent), and (ii) The Proper[y is not occupied by the purchaser or grantee as hls or her principal residence, or the purchaser or grantee does so ocwpy [he Property bu[ 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 nol require such payments, Lender does not waive its rights with respect lo subsequent events. (d) Regulations of HUD Secretary. In many circumstances regulations i�sued 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 Instrmnent does not authorize acceleration or foreclosure if not permitted by regulations of the Secretary. (e) Mortgage Not Insured. Borrower agrees lhal if this Security Instrument and the Note are not determined [o be eligible for insurance under [he National Housing Acl wilhin 60 days from the date hereof. Lender may. at its option. require immediate Rayment in full of all sums secured by this OOt 123168426 CdYOank 3261.12 V4 FHP Mortgage WITH MERS-NE Revisetl 4/96 VMP(aJ VMP9N(NE)(1109).00 Wol[ers Kluwx Finanoial Services Page 5 of 10