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201502606 <br /> and no other Borrower retains title to the Property in fee simple or retains a leasehold under <br /> a lease for not less than 99 years which is renewable or a lease having a remaining period of <br /> not less than 50 years beyond the date of the 100th birthday of the youngest Borrower or <br /> retains a life estate, (or retaining a beneficial interest in a trust with such an interest in the <br /> Property). A Deferral of Due and Payable Status is not permitted when a Lender requires <br /> immediate payment in full under this Paragraph; or <br /> (c) Due and Payable with Secretary Approval. Lender may require immediate payment in full <br /> of all sums secured by this Security Instrument, upon approval of the Secretary if: <br /> (i) The Property ceases to be the Principal Residence of a Borrower for reasons other than <br /> death and the Property is not the Principal Residence of at least one other Borrower; or <br /> (ii) For a period of longer than twelve (12) consecutive months, a Borrower fails to occupy <br /> the Property because of physical or mental illness and the Property is not the Principal <br /> Residence of at least one other Borrower; or <br /> (iii) An obligation of the Borrower under this Security Instrument is not performed. <br /> A Deferral of Due and Payable Status is not permitted when a Lender requires immediate <br /> payment in full under Paragraph 10(c). <br /> (d) Notice and Certification to Lender. Borrower shall complete and provide to the Lender on <br /> an annual basis a certification, in a form prescribed by the Lender, stating whether the <br /> Property remains the Borrower's Principal Residence and, if applicable, the Principal <br /> Residence of his or her Non-Borrowing Spouse. Where a Borrower has identified a <br /> Non-Borrowing Spouse in Paragraph 9, the Borrower shall also complete and provide to the <br /> Lender on an annual basis, a Non-Borrowing Spouse certification, in a form prescribed by the <br /> Lender, certifying that all requirements for the application of a Deferral Period continue to <br /> apply and continue to be met. During a Deferral Period, the Borrower's annual certifications, <br /> required by this Paragraph, must continue to be completed and provided to the Lender by the <br /> Non-Borrowing Spouse. The Borrower shall also notify the Lender whenever any of the events <br /> listed in Paragraph 10(b)and (c)occur. <br /> (e) Notice to Borrower. Lender shall notify Borrower whenever the loan becomes due and <br /> payable under Paragraph 10(b) and (c). Lender shall not have the right to commence <br /> foreclosure until Borrower has had 30 days after notice to either: <br /> (i) Correct the matter which resulted in the Security Instrument coming due and payable; <br /> or <br /> (ii) Pay the balance in full; or <br /> (iii) Sell the Property for the lesser of the balance or 95% of the appraised value and apply <br /> the net proceeds of the sale toward the balance; or <br /> (iv) Provide the Lender with a deed-in-lieu of foreclosure. <br /> (� Notice to the Secretary and Non-Borrowing Spouse. Lender shall notify the Secretary and <br /> any Non-Borrowing Spouse identified in Paragraph 9 whenever any event listed ir� P,3� rap <br /> ��c <br />