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�0120873� <br />Any amounts disbursed by Lender under this paragra� shall become an additional debt of Borrower and be <br />secured by this Security Instrument. These amout�ts`,sliall bear interest &om the date of disbutsement, at the <br />� �:-, <br />Note rate, and at the option of Lender, shall be immediately due and payable. <br />Borrower shall promptly discharge any lien which has priority over this Secutity Inshument unless Borrower <br />(a) agrees in writing to the payment of the obligation secu.red by the lien in a manner acceptable to Lender; <br />(b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which <br />in the Lender's opinion operate to prevent the enforcement of the lien; or (c) secures &om the holder of the <br />lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender <br />determines that any part of the Property is subject to a lien which may attain priority over this Security <br />Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take <br />one or more of the actions set forth above within 10 days of the giving of notice. <br />8. Fees. Lender may collect fees and chatges authorized by the Secretary. <br />9. Grounds for Accel�ration of Debt. <br />(a) Default. Lender may, except as limited by regulations issued by the Secretary, in the case of payment <br />defaults, require immediate payment in full of all sums secured by this Security Instrument if <br />(i) Bonower defaults by failing to pay in full any monthly payment required by this Security <br />Instrument prior to or on the due date of the next monthly payment, or <br />(ii) Borrower defaults by failing, for a period of thirty days, to perform any other obligations <br />contained in this Security Instrument. <br />(b) Sale Without Credit Approval.Lender ahall„if permitted by applicable law (including 5ection <br />341(d) of the Gam-St. Germain Depository� Act of 1982, 12 U.S.C. 1701j-3(d)) and with <br />the prior approval of the Secretary, require immediate payment in full of all sums secured by this <br />Security Insirument if: <br />(i) All or part of the Property, or a beneficial interest in a trust owning all or part of the Ptoperty, is <br />sold or otherwise transferred (other than by devise or descent), and <br />(ii) The Property is not occupied by the purchaser or grantee as his or her principal residence, or the <br />pwchaser or grantee does so occupy the Property but his or her credit has not been approved in <br />accordance with the requirements of the 5ecretary. <br />(C) No Waiver. If circumstances occur that would petmit Lender to require immediate payment in full, but <br />Lender does not require such payments, Lender does not waive its rights with respect to subsequent <br />events. <br />(d) Regulationsof HUD Secretary. In many circutnstances regulations issued by the Secretary will limit <br />Lender's rights, in the case of payment defaults, to require immediate payment in full and foreclose if <br />not paid. This Security Instrument does not authorize acceleration or foreclosure if not permitted by <br />regulations of the Secretary. <br />(e) Mortgag� Not Insured .Borrower agrees that if this Security Instrument and the Note are not <br />determined to be eligible for inaurance under the National Housing Act within 60 days from the date <br />hereof, Lender may, at its option, require immediate payment in full of all surns secured by this <br />Security Instrument. A written statement of any authorized agent of the Secretary dated subsequent to <br />60 days &om the date hereof, declining to insl�r��this Security Instrunnent and the Note, shall be <br />deemed conclusive proof of such ineligibiDi4�.°�Totwithstanding the foregoing, this option may not be <br />FHA Deed of Trus6NE <br />VMP � VMP4R(NE) (110b).W <br />WolteB Kluwer Financial Sarvicea Page b of 10 <br />