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201208983 (ii) The Property is not owupied by the purcliaser or granLce as his or her principal residence, or the purchascr or grantcc does so occupy the Properry, Uut hi, or hzr credit hxs not been �pproved in xa ordance with tlie requirements of the Secretaty. (c) No Waiver. If cireumstances occur tliat would pern�it Lender to reqalre immcdiate payment in full, but Lender does not reqLure such payments, Lender does not waive iCs rights N ith r�spect Yo subsequent event5. (d) Regolations of HUD Seeretary. In many circumsWnces regulations issucd hy the Secreury will Iimit Lender's ri€hts, in the case of payment defaults, to requirc irrunediate payment in fiill and foreclosc if not paid. This Secarity instniment does not authorize accelc.ration or foreclosure i f not permitted by regolations of thc Sccrctary. (e) Mortgage Not Insurcd. Borrower agxees that if this Security Instrament and the Vote �re not determined to be eGgible for insur�uce uuder the Na�ional Honsing Act within 60 DAYS from the date hereof, Leuder may, at its option, requirc imrnediate payment in fiill of all sums secured by this Security Instrument. A written statement of any authorized agent of lhe Secretary datad subsequent to 6 0 DAYS from the datc hereof, declining Lo insure this Securiry Instcument and the Note, shall be deemed conclusive proof oF sueh ineligibility. Nolwithstauding the foregoing, this option may not be exercised by Lender when the unavailabiliYy of insurnncc is solely due to Lender's failure to remil a mortgage insurance premium to Lhe Secaetary. 10. Reinstxtement. Rorrower has a right to be reinstated if Lcnder has required immediate payinenL in fiill 6ecause of Borrower's failure to pay an amount due under ihe Note or this Security Instrument. This right applies even after foreclosure proceedings are instituted. To reinsiate the Seouriry histrumenL, Bouower sh�ll tender in a lump sum all amotmts required to bring Borrower's account currenY including, to the extent they are obligations of Borrower under this Security Instrument, foreclosurc costs and xeasonable xnd customary attorncys' fees and expenses properly associated with fl2e foreclosure proe�;eding. Upon reinstatemenL by Borrower, this Security InstrmnenL and the obligalion5 tl�at it eecures shall rcmain in effect as if Lender had not required immedi�te payinent in full. Howcver, Lcndcr is not rcquircd to pexrnit reinstatement iE (i) Lender has acccpled reinstatemenL aftet the commcncemcnt oC forcclosurc proceedings witliin two years immediately preceding thc commencemen[of a curtent I'oreclosure proceeding, (ii) reins4�tement will preclude foreclosnre on different grotmds in tlie fu[ure, or (iii) reinstatemeut will adversely affect d�e prioriry of ehe lien created by this Securiry InstruinenG 11. Borrower Not Relcased; Forbcarance by Lender Not a waiver. Lxtension of tlie time of payment or modificatiou of amortization of die sums secured by this Sccu�ity Instrtunent granted by Lender Co any successor in interest oT Borrower shall not operate to celease the liability of the o�i�inal Borrower or Borrower's successors in interest. Lender shall not be required to comnience procu dings against any successor in inisrest or reh�se to extcnd time for payment or otherwise modify amorrization of�hc,iuns secured by this Security Instrument by reason of any demand madeby the original Borrower or Borrower'S succe�.sors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or precludc the exercise of ttny right or remedy. 12. Successors aod Assikns Bound; .loint and Severat Liability; Co-Signers. The covenants and xgrcements of tl�is Security lnshument shall b�nd and benefit the successors and assigus of Lender and Borcower, su6ject Yo [he provisions of pazagraph 9(b). Borrowcr's covenants and agreemenls shall bejoint and several. tlny Borrower who co-signs lhis Security Instrument buL docs xiot exeeute the Note: (a) is eo-signing Lhis Security Instrument only to inortgagq grant and convey thal Borrower's interest in the Properiy under the terms of this Securiry Tnstrument (b) is not personally obligated to pav the sums secuxed by this Securitp Instrument; and (c) �grees that Lender and any other Bo�rower�nay agree to exteud, modify, forbear or make any acconvnodaLions with regard to the terms of this Securiry Instriunent or the Note witl�ot�t fl�at Borrower's consent. 13. Naticcs. Any notice to E3orrower provided for in this Security InstrumenY shall be given by delivering it or by mailing it by first class mail unless applicablc law requires use of annther method. Thc notice shall be directed to the Property Address or any otl�er address Borrower designates by notice to Lender. Any notice to Lcnder shall be given by tirst class mail w Lender's address stated herein or any address Lender dcsignates by voticc to Borrower. Any notice provided for in this Sccurity InStrument shall be deemcd[o have been givcn to Borrower or Lender when . given as providcd in this paragraph. FHA NEBRASKA DEED OF TRUST - MFRS UocMag/cQ',�TTiY� NEDOTZ.FHA D7l03112 Page 5 of 9 www.docmagic.com