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201209238
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Last modified
11/2/2012 8:15:05 AM
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11/2/2012 8:15:04 AM
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DEEDS
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201209238
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�a��o9��� <br />Any amounts disbursed by Lend�r under this pazagraph shall become an additional debt of Bonower and be <br />s�ured by this S�urity Instrument. These amounts shall bear interest from the date of disbursement, at the <br />Note rate, and at the option of Lender, shall be immediately due and payable. <br />Borrower shall promptly dischazge any lien which has priority over this Security Insmiment unless Bonower <br />(a) agrees in writing to the payment of the obligation secured 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 proce�ings which <br />in the Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from 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 chazges authorized by the Secretary. <br />9. Grounds for Acceleration of Debt. <br />(a) Defauit. Lender may, except as limited by regulations issued by the Secxetary, in the case of payment <br />defaults, require immediate payment in full of all sums se,cured by this Se�urity Instrument if: <br />(i) Bonower defaults by failing to pay in full any monthly payment required by tlus Security <br />Instrument prior to or on the due date of the next monthly payment, or <br />(ri) Bonower defaults by failing, for a period of thirty days, to perform any other obligarions <br />contained in this Security Instrument. <br />(b) Sale Without Credit Approval. Lender shall, if permitted by applicable law (including Section <br />341(d) of the Garn-St. Germa.in Depository Institutions Act of 1982, 12 U.S.C. 1701j-3(d)) and with <br />the prior approval of the Secretary, require immefliate payment in full of all sums secured by this <br />S�urity Instrument if: <br />(i) All or part of the Property, or a beneficial interest in a trust owning all or part of the Property, 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 />purchaser or grantee does so occupy the Property but his or her credit has not been approved in <br />accordance with the requirements of the Secretary. <br />(c) No Waiver. If circumstances occur that would permit 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) Reguladons of HUD Secretary. In many circumstances regulations issued by the Secretary will limit <br />Lender's rights, in the case of payment defaults, to require immediate payment in full and foreclos� if <br />not paid. This 5ecuriry Instrument does not authorize acceleration or fore�losure if not permitted by <br />regularions of the Secretary. <br />(e) Mortgage Not Insured. Borrower agr�s that if this Security Instrument and the Note are not <br />determined to be eligible for insurance under the National Housing Act within 60 days from the date <br />her�f, Lender may, at its option, require immediate payment in full of all sums s�ured by this <br />Security Instrument. A written statement of any authorized agent of the Seeretary dated subsequent to <br />60 days from the date her�f, declining to insure this Security Insmiment and the Note, shall be <br />deemed conclusive proof of such ineligibility. Notwithstanding the foregoing, this oprion may not be <br />FHA Oeed of Trust-NE 4/98 <br />VMP Q VAAP4R(NE) (1109) <br />Walters Kluwer Financial Services Page 5 of 10 <br />
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