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201208584 5ecurity Instrument. A written statement oF�ny autl�orized agent of tl�e Secret�ry dated suUsequent to 6U days from Che date hereaf, declinin�tn insi�re this Security lnstrument and the Note, shal! be deemed canclusive proof of sucl� ineligil�ility. i�otwitl�standing il�e foregoing, this option may not be exercised by Lender wlten the unavaiiability of insurance is solely due to Lender's failure to remit a mort�„a�e insurance premium to tiie 5ecretary. 1 0. Relnstakement. Borrower has a right to ve reinsta[ed if Lender has required immcdiaEc payment tn full Uecause of Borro�ver's failure to pay an amount due under thc Notc ar this Security Instr�imenl:. Tfiis right applies even after foreclosure proceedir�gs are institutcd. '�'o rcinstate tlie Security [nst:run3�n�, $urrawer sEiall tender in a lump sum all amaunts requirad to bring Borrower's account curren€ inclucJing, to tlte exte�tt tliey are abligaYions of Borrower under this Security [nstrumeni, forealosur�cus�s and reasonable and customary attorneys' fees and expenses properly associated �vith the foreclost[re proceedirt�;. L)pnn reins[atemenl Uy Sorrowcr, this Sccurity Inserument and the obli�atinns that it sacures shall remain in effect as if Lender E�ad nnt reqt�ired imrnec�iaYe�aymen� in full_ Hn�vever, Lendar is not reGuired ta permit reinstatement if: (i) I_.enc�er has accepi�cl reinstalernenC after tEie co�nmeneetnant af foreclosure proeeedings within two years irr3rttediately precedin�tl�e can�n�encernent af a current foreclosure proceeding, (ii) reinstnCement�vill pE�eclude foreclasure on different grounds in EF�e future, or (iii) reinstaEcmcnt wiE[ adversely af'fecC Ch� �riority nFtl�e lien created 6y this 5ec�arity lnstrumenk. 9 9_ �3orrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time ol'payme�it or modifcation of amorlizaEian of tl�c sums secured 6y tltis Security Inslrumenl granted Uy E.ender ta any successor in interest oP Borrower siiall naC oparate tu rele�se Lhe liability af tlze original F3orrawer or Borro�ver's successor in interest. Lander sltall nat �e required tn cnmmence proceedings againsk any successor in interest ar rcfusc to extend time for paymenk nr ntherwise modify amortizatian of the sums secured by this Seetirity lnstr�amenf E�y reason nf any cl�anand ntade 6y tEie orioinal Borrower or Borro�ver's suecessors in interest. Any forUearance by Lender in exercisin�aity right or remedy shali not Ue a wniver of ar preclude Lhe exercisn o['�ny rigl�c or remedy. ~ 12. Successors and Assigns Bound; Joint and Several Leability; Co-Signers. Thc covenants and :�greenients of this Security Insirument shall bind and benefit the succcssors and assigns of I._�nc�er and Borrower, subject to the pravisions of paragraph 9(b). Borra�ver's co�ertants and a�ree�t�et�ts s1ia11 be joint and several. Any Borro�ver who co-signs this Security lnstrument t�ut does not execute tUe Note_ (a) is co-signing this Security [nstrument only !o morteage, grant and convey that Einrrnwer's interest in the Property under the terms o£this Security instrumenC; (b) is not Persnnally ot�ligated to pay khe sums secured by this Security Instrument; and (c) agrees tl�nt I_.ender and any other Borrorver may agree co estend, modif'y, for�ear or make txny accommodations �vi1l1 r�g;ercl t« tl�e terms of this 5ecurity instrument or tihc NoYe �viYhout Lhat Borrower's consenl. 13. Notices. Any noEice tn Burrower pE•ovided far in lltis 5ecurity Instrument sliall bc given 6y delivering it nr by m:�ifina it hy [�rst class mail unless applicable la�v requires use of anotl�or method. The nntice shall be dir�ctecl to the I'roperty Address or any other address Ciorrower designntes l�y noFicc tn Lender. AEiy notice to Lec�der sl�al] be given Uy first class mail to Lender's address stated herein or any �dclress Leitder clesignates hy notice to Borro�ver. Any notice pravidec3 for in this 5�:curi[y [nstrun�ent s13alt be deemed to have been �iven to Borrawer ar Lender ��lien given as provided in this p1rl�r�tpli. 'I4. Gover'ning Law; Serrerability. Tltis Security lnstrumenL sii�ll be gaverned Uy Federal la�v and the Ia�v nf the jurisdickian in wlticlt the Property is locat�d. in tt�e event that any provision or dause oftE�is Security Instrument or tlie Note conf[icts wiLla applicable la�v, such canllict sl�all not affect ather provisions ot'this Security InstrurrEent or the Notc wEiich can he�iven effect without !he conflicting provision. To this end lhe provisions of this Sccurity InsCrument ancE the Nnle ure �lealared to Ue severabEe. 2012-2129262 tOOO49704O12fl3a639 0493 FHA MorSpaga WITH MERS-NE Revisa�l 41gfi VMP pp VSNP4NSNE1 C3�0�3) Wollers Kluwer Fnanoiel Services 1 01912012 2:50 PM P�ge 5 oT 16