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2015©0091 <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, <br />but Lender does not require such payments, Lender does not waive its rights with respect to subsequent events. <br />(d) Regulations 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 foreclose if not <br />paid. This Security Instrument does not authorize acceleration or foreclosure if not permitted by regulations <br />of the Secretary. <br />(e) Mortgage Not Insured. Borrower agrees 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 <br />from the date hereof, Lender may, at its option, require immediate payment in full of all sums secured by <br />this Security Instrument. A written statement of any authorized agent of the Secretary dated subsequent to <br />60 DAYS from the date hereof, declining to insure this Security Instrument and <br />the Note, shall be deemed conclusive proof of such ineligibility. Notwithstanding the foregoing, this option <br />may not be exercised by Lender when the unavailability of insurance is solely due to Lender' s failure to remit <br />a mortgage insurance premium to the Secretary. <br />10. Reinstatement. Borrower has a right to be reinstated if Lender has required immediate payment in full <br />because of Borrower' s failure to pay an amount due under the Note or this Security Instrument. This right applies <br />even after foreclosure proceedings are instituted. To reinstate the Security Instrument, Borrower shall tender in a <br />lump sum all amounts required to bring Borrower' s account current including, to the extent they are obligations of <br />Borrower under this Security Instrument, foreclosure costs and reasonable and customary attorneys' fees and expenses <br />properly associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Security Instrument and <br />the obligations that it secures shall remain in effect as if Lender had not required immediate payment in full. <br />However, Lender is not required to permit reinstatement if: (i) Lender has accepted reinstatement after the <br />commencement of foreclosure proceedings within two years immediately preceding the commencement of a current <br />foreclosure proceeding, (ii) reinstatement will preclude foreclosure on different grounds in the future, or (iii) <br />reinstatement will adversely affect the priority of the lien created by this Security Instrument. <br />11. Borrower Not Released; Forbearance by Lender Not a Waiver. Extension of the time of payment or <br />modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in <br />interest of Borrower shall not operate to release the liability of the original Borrower or Borrower' s successors in <br />interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend <br />time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any <br />demand made by the original Borrower or Borrower' s successors in interest. Any forbearance by Lender in exercising <br />any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. <br />12. Successors and Assigns Bound; Joint and Several Liability; Co- Signers. The covenants and agreements <br />of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the <br />provisions of paragraph 9(b). Borrower' s covenants and agreements shall be joint and several. Any Borrower who <br />co -signs this Security Instrument but does not execute the Note: (a) is co- signing this Security Instrument only to <br />mortgage, grant and convey that Borrower' s interest in the Property under the terms of this Security Instrument; (b) <br />is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any <br />other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this <br />Security Instrument or the Note without that Borrower' s consent. <br />13. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or <br />by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed <br />to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall <br />be given by first class mail to Lender' s address stated herein or any address Lender designates by notice to Borrower. <br />Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when <br />given as provided in this paragraph. <br />FHA NEBRASKA DEED OF TRUST - MERS Docaleg/c Moms <br />www.docmagic.com <br />NEDOTZ.FHA 07/03/12 Page 5 of 9 <br />