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99 111062 Any amounts disbursed by Lender under this Paragraph shall become an addkional debt of Borrower and be secured by this Security Instrument. These amounts shall bear �terest from the date of disbursement at the Note rate, and at the option of Lender, shall be immediately due and payable. Borrower shall prompty discharge any lien which has prioriry over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the I'�en an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over this Security instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. 8. Fees. Lender may collect fees and charges suthori�d by the Secretary. 9. Grounds for Acceleration of Debt. (8) DEfBUIt. Lender may, except as limited by regulations issued by the Secretary in the case of payment defauks, require immediate payment in full of all sums secured by this Security Instrument H: (i) Bonower defauRs by failing to pay in full any monthy payment required by this Security Instrument prior to or on the due date of the next monthly payment, or (ii) Borrower defaufts by failing, for a period of thirty days, to perform any other obligations contained in th(s Security Instrument. (b) Sale Without Credit Approval. Lender shall, if permitted by applicable law (including section 341(d) of the Gam-St Germain Depository Instkutions Act of 1982, 12 U.S.C. 1701j-3(d)) and with the prior approval of the Secretary, require immediate payment in full of all the sums secured by this SecurRy Instrument 'rf: (i) All or part of the Property, or a beneficial interest in a trust owning all or part of the Property, is sold or otherwise transferred (other than by devise or descent), and (ii) The Property is not occupied by the purchaser or grantee as his or her principal residence, or the purchaser or grantee does so occupy the Property, but his or her credit has not been approved in accordance with the requirements of the Secretary. (C) NO W81Ve1'. If circumstances occur that would permit Lender to require immediate payment in full, but Lender does not require such payments, Lender does not waive its rights with respect to subsequent events. (d) RegulBtlonB Of HUD SeC�etBry. In many circumstances regulations issued by the Secretary will limit Lender's rights, in the case of payment defauRs, to require immediate payment in full and foreclose if not paid. This Security Instrument does not authorize acceleration or foreclosure 'rf not permitted by regulations of the Secretary. (e) Mortgage Not Insured. Borrower agrees that 'rf this Security Instrument and the Note are not determined to be eligible for insurance under the National Housing Act within # Of d8y8 (90) from the date hereof, Lender may, at ks option require immediate payment in full of all sums secured by this Security Instrument. A written statement of any suthorized agent of the Secretary dated subsequent to # Of dByS (90) from the date hereof, declining to insure this Security Instrument and the Note, shall be deemed conclusive proof of such ineligibiliry. Notwithstanding the foregoing, this option may not be exercised by Lender when the unavailability of insurance is solely due to Lenders failure to remit a mortgage insurance premium to the Secretary. 10. Reinstatement. Borrower has a right to be reinstated 'rf Lender has required immediate payment in full because of Borrower's failure to pay an amount due under the Note or this Security Instrument. This right applies even after foreclosure proceedings are instituted. To reinstate tha Security Instrument, Borrower shall tender in a lump sum all amounts required to bring Borrowers account current including, to the extent they are obligations of Borrower under this Security Instrument, foreclosure costs and reasonable and customary attomey's fees and expenses properly associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Security Instrument and the obligations that it secures shall remain in effect as if Lender had not required immediate payment in full. However, Lender is not required to permit reinstatement 'rf: (i) Lender has accepted reinstatement after the commencement of foreclosure proceedings within two years immedietely preceding the commencement of a current foreclosure 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 this Security Instrument. 11. Borrower Not Released; Forbearance By Lender Not a Waiver. E�ension of the time of payment or modffication of amortization of the sums secured by this Securiry 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 extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any r'�ght or remedy. 12. Successors and Assigns Bound; Joint and Several Liability; Co-signers. Tne covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of Paragraph 9(b). Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrses that Lender and any other Borcower may agree to extend, modify, forbear or make any accommodations with regard to the tertn of this Security Instrument or the Note wkhout that Borrower's consent. 13. NOtICe8. Any notice to Borrower provided for in this Security Instrument shall be given by deliver'�ng ft or by mailing it by first class mail uniess applicable law requires use of another method. The not�ce shall be directed to the Property Address or any other address Bonower designates by notica to Lender. My notice to Lender shall be given by first class mail to Lender's address stated herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided i� this paragraph. 14. Governing 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 Instrument or the Note F5813.LMQ (2/99) Page 3 of 5 �