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��1 5��7�3 alsa notify Lender whene�er any of the e�ents listed in Paragraph l��b�and�c}occur. {e}No�ice to Secretary and Borrower. Lend�r sha�1 natify the Secretar�and Borrower�vhene�er the�oan becomes due and payable under Paragraph 1�(b}and(c}. Lend�r shail not ha�e the right to commence foreclosure until Borrower has had thirty�30�days after notice ta either: �i}Carrect the matter which resulted in the Secur�ty Instrument coming due and payable;or �ii}Pay the balance in ful l;or �iii}5e11 the Property far the�esser of th�balance or ninety-five�95%}vf the ap�raised�alue and apply the net prac�e�s of the sale�o�vard the balance;ar �iv}Pra�ide the Lender with a deed-in-lieu af fareclosure. �f}Notice tv Secretary and Eligible Nan-Borrowing Spvuse. Lender shall nottfy the Secretary and any Eligible I�on-Borrowing Spouse whene�er any e�ent listed in Paragraph 10(b}and�c} occurs during a Deferral Period. (g�Trusts.�on�eyance of a Borrower's interest in the Praperty ta a trust�vhich meets the reauirements�f the Secretary,or can�e�ance�f a trust's inter�sts in the Praperty to a Borrower, shall not be cansidered a con��yance for purposes of this Paragraph I�.A trust shall not be considered an occupant ar he cons�dered as having a Principal Residence for purpases of this Paragraph �Q. �h�Mor�gage Not Insured.Borrower agrees�hat should this�e�urity Instrum�nt and the I�1ote n�t k�e eligible for insurance under the l�ational Ho�sing Act with�n eight�8}month�from the date hereof, if permitted by app�icable�aw Lender may,at its aptrton, require immediate payment-in-fu1l af a]1 sums secured by�his 5ecurit�Instrurn�nt. A wri#ten sta.tement of a.r�y authorized agent�f th� Secretary dated subsequent ta eight{$�month�frvm th�date here�f,d�clining to insure this Security Ins�rument and the Nate,shalt be de�rned canclusi�e proof�f such ineligibi�it}�. Notwithstanding�he faregoing,this option may not be exercised by L�nder when the unavailability of insurance is sole�y due to Lend�r's failure to remit a mortgage insuranc�premium�a the Secretary. 11. No Deficiency Judgments.B�rrovv�r shall ha��no personal liability for payment of the d�b# secured t�y this Security Instrument. Lender may enfarce the debt onl�through sa1�of the Property. Lender sha�l nat be permitted ta�bta.�n a d�ficiency judgment against Bvrrower if the S�curity Instrument is foreclosed. If this S�curity Instrument is assigned ta the Secretary upon demand by the Secretary, B�rr�wer shall not k�e�i abl e for any di fference b�tween th�mortgage insurance benefits paid to Lender and the❑utstanding indebt�dn�ss,including accrued interest,owed by Sorrower a#the�ime of the assignment. lZ.Reinsta�ement by Barrawer. B�rcower has a ri�ht to he reinstated if Lender has re�uired immediate payment in full. This right applies e�en after fareclosure proceedings are instituted. To reins�ate this Security Instrument,Borrower shall c�rrect th��onditian which r�sulted in the re�uirement for immediate payment in full. Foreclosure costs and reasonable and�ustamary attarney's fees and �xpenses pr�perly asso�iated with th�far��iosure proceeding shall be added tv the Principal Balance. Upon reinstatement hy Borrawer,this 5ecurity Instrument and the obli�ations that it secur�s shall Page G of 14 HECM F irst Deed Qf Trust-2�15