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��14�455� <br /> �d}Notice to Secretary and Borrower.Lender sha11 notif�the Secretary and BorroWer whenever <br /> tl�e Ioan becomes due and payable under Para�raph 9�a�����an.d�b}.Lender sha1�not haVe the r�ght . <br /> to com�nence foreclosure unti�Borr�wer has had 3�days aft�r�ot�ce to either. <br /> �z}Carrect the matter vvhi�h resu�t�d�n the Secur�ty Instrument coming due and payable;or <br /> , <br /> �ii}Pa�the�alance in fu11; ar , <br /> �ii�� SeII the Prop�r�y for the�esser af�he�alanc�or 95%of th.�appraised value and apply <br /> � the n�t pro�eeds of tlze sale tav�ard the balar�ce; or . <br /> � �iv�Pro�id��he Lender,wi�h a deed�-in--l�eu of f�reclosure. <br /> [e} Trusts. Conveyanc�of a Borrower's interest Yn the Praper�y to a trust vvhich meets the <br /> re�uirements of the S��retary, or con�eyance of a trust's�nterests in the Property to a Barrovver, <br /> sha�� not be�onsider�d a con�eyance for purpose��f this Paragraph 9.A tru5t 5haI1 not�]� <br /> considered ar�occupant or b�consid�red as having a princ�pal residence f�r purpos�s of th�s <br /> Paragraph 9. <br /> (f}Mortgage Nat Insured.Barrov�rer agrees that should this Securit�Iristrument and the Note not <br /> be eligYble for insurance u�d�r the Nat�or�a1�ousing Act within eYbht�8�months from the date � <br /> .� hereof,if permitted by appi�cable�aw Lender may, at its option,requ�re�mmedxate payment-�n-fu�� <br /> � �. af al�su��ns s�cured b}�this Securit�Zns�rument. A v�r�tten s�at�rn.ent of any author�zed agent af the <br /> Secretary dated subsec�uent ta eight�$�m�nths from the date hereof, decl�ning to insure this <br /> � Security�nstrument and the Nate, sha�l be deemed conclus�ve pr�of of such ineligib�lity. <br /> Notwithstanding the for�gaing,this option may nat�e exercis�d b�Lender when the � <br /> unavailabi�ity�f Ynsurance,is soXely due to Lender's fai�ure ta rerni�a�nor�gage insurance prem�um <br /> to th�Secretar�. <br /> lU.No Def���ency Judgments.Borrov�er shal�have no p�rsonalliab��ity for payment of the debt <br /> secured b�tl�is S�curYty�nstrument.Lender may enforce the debt onXy thr�ugh sale of the Pr�perty. <br /> � Lender shall not be permit�ed to obtain a def ic�ency j ud�ment against B arro�ver if th�S ecurity �� � <br /> instrument�s foreclosed.Zf th�.s Secur�ty Instrument�s ass�gned to the Secretar�up�n deYnand b�the <br /> Secretary,Borro�ver sha11 not be��able far any dzfferen�e between the mort�age insurance benef ts paid � <br /> to Lender and the outstandYng�ndeb�edness, �n�luding accrued inter�st,owed by Borrov�er at the time of <br /> �h�assignment. � , : <br /> 11.Reinstatement. Borr�wer 1�as a right to be reinstated if Lender izas required�mmediate <br /> paymentµin-ful�.This right appl�es even after forec�asure praceedin�s are instituted.To reins�ate this <br /> Security Instrument,Borrov�er sha1l correct the candition which resulted�n the requirement f�r . <br /> immediate payment-�n--fu�I. Farec�asure costs and reasonab��and custnmary attarn�y's fees and <br /> � e�penses proper��assacia�ed with the for�c�osure pro�eeding sha��be added to the pr�nc�pal balance. <br /> Upon rexnstatement�y Borro�ver,th�s Secur�ty�nstrument and the ob�igat�ans that zt secures sha11 <br /> remain rn effect as if Lender had nat required immediate payment--in�full.Howev�r,Lender is not <br /> required t4 permit reinstatement if: �i�Lender has accepted reinstatement after the�ammencement of <br /> foreclosure pr�ceedings wYthin twa years immediate�y preceding the corn�nencement af a current <br /> � for�c�osure proceeding, �ii}reins�atelnent v�i��preclude forec�osure on d�fferent graunds in�he future, ar <br /> �z�i�reinstatement wi��adversely affect the priarity of�he Security Instrument. <br /> ,, <br /> Page 5 af 12 HECM rirst Deed Qf Tr�st <br />