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201209696 Security Instcwnent. A written statemeut of any authorized agent of the Secretary dated subsequent to 60 days from the date hereof, d�lining to insure[his Security Instrument and the Note, shall be deeuied conclusive proof of such ineligibility. Notwithstanding the foregoing, tlus option may not be exercised by Lender when the unavailability of insurance is solely due to Lender's failwe to remit a mortgage insurance premium to the Secretary. 7 0. Reinstdtement. Borrower has a right to be reinstated if Lender has required immediate payment in full because of Horrower's failure to pay an amount due under the Note or tt�is Security Instrument. This right applies even after foreclos�e proccedings are instituted. To reinstate the Security lnstrument, i3orrower shall tender in a lump sum all amounts required to bring Borrower's account current including, to the e�ctent they aze obligations of Borrower under this Securiry Instrument, foreclosure costs and reasonable and customazy attomeys' f�s and expenses properly associated with the foreclosure proceeding. Upon reinatatement by Borrower, this Security Insh-wnent and the obligations that it secures shall remain in effect as if L.ender had not required imtnediafe payment in fulL However, Lerider is not required to permit reinstatement iE (i) Lender has accepted reinstatement after the commencement of foreclosure procezdings within two yeazs immediately preceding the commencement of a current foreclosi¢e proceeding, (ii)reinstatement will preclude foreclosure on different grounds in the future, or(iii)reinstatement will adversely affect the priority of the lien created by tltis Security Instrwnent. 11. Borrower Not I�leased; Forbearance By LerMer Not a Waiver. Extension of the time oFpayment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successor in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to eactend time for payment or otherwise modify amortization of the sums secm�ed by ttus Security Instrument by reason of any den�id made by the original Borrower or Horrower's successors in interest. Any forbeazance by Lender in exercising any right or remedy shall not be a waiver of or preclude the eacercise of any right or remedy. 12. Successors and Assigns Bound; JoiM and Several Liability; Co-Signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Horrower, subject to the provisions of paragraph 9(6). Boaower's covenants and agreements sha11 be joint and several. Any Borrower who co-signs tlris Security Instrument but does not eacecute the Note: (a)is co-signing this Security Insh�ument only to mortgage, grant and convey that Horrower's interest in the Property under the terms of this Security Inshvment; (b) is not personally obligated to pay the sums secured by ttris Security Instrument; and(c)agrees that Lender and any other Borrower may agree to e�ctend, modify, forbear or make any accammodations with regard to the tenns of this Security Inshwn�t or the Note without that Borrower's consent. 13. Notices. Any notice to Horrower provided for in this Security Instrument shaJl be given by delivering it ar by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borrower desiguates by notice to Lender. Any notice to I.ender shall be given by first class mail to I.ender's address stated herein or any address Lender desigoates by notice to Horrower. Any notice provided for in tlils Security Instrument shall be deemed to have bcen given to Borrower or Lender when given as provided in tlus paragaph. 14. Goveming Law; Severability. This Security Instrument shall be govemed by Federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Inshtiment or the Note conflicts with applicable law, such conflict ahall not affect other provisions of flils Security Inshument or the Note wlvch can be given effect without the cauflicting provision. To this end the provisions of this Security Instrument and the Note aze declazed to be severable. 2300288820 �V4NNE FHA Mwtgepe WITH MENS�NE Reviee0 4/98 VMP fp7 VMP4WNE)�11081 Wokcs Kluwri Finanua�Service¢ Pege 8 ot 10