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99 111516 Any amounts disbursed by Lender under this Paragraph shall become an additional debt of Borrower and be secured by this Security Instrument. These amounts shall bear interest from the date of disbursement at the Note rate, and at the option of • Lender, shall be immediately due and payable. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner accepffible to Lender; (b) contests in good feith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operete to prevent the enforcement of the lien; or (c) secures from the holder of the lien en agreement satisfactory to Lender subordinating the Iien to this Security Instrument. If L�der determines that any part of the Property is subject to a lien which mey attah priority over this Security Instrument, Le�der may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above wkhin 10 days of the giving of notice. 8. Fees. Lender.may collect fees and charges authoriaed by the Secretary. 9. Grounds for Acceleration of Deb� (a) Defaul� �ender may, eoccept as limked by reguletions issued by the Secretary in the case of payment defeults, require immediate payment in full of all sums secured by this Security Instrument if: (i) Borrower defauRs by failing to pay in full any monthy paym�t required by this Security Instrument prbr to or on the due dete of the next monthy payment, or (ii) Borrower defaults by failing, for a period of thirty deys, to perform eny other obligations contained in this Securky Instrument. (b) Sale Without Credit Approval. Lender shall, if permitted by applicable law (including section 341(d) of the Gam-St Germain Deposkory Institutions Act of 1982, 12 U.S.C. 1701j-3(d)) and with the prior epproval of the Secretary, require immediate payment in full of all the sums secured by this Securiry Instrument if: (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 xcupied 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 credk has not been approved in accordence with the requirements of the Secretary. (C) NO W81v@I'. If circumstances occur that woutd penmit 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) ReguletiOns of HUD Secretsry. In many circumstances regulations issued by the Secretary will iimit Lenders rights, in the case of payment defauRs, to require inmediate payment in full and forecbse 'rf not paid. This Security Instrument does not authoriae acceleration or foreclosure if not permitted by regulations of the Secretary. (e) Mortgage Not Insured. eorrower agrees that if this Security Instrument and the Note are not determined to be elig�le for insurance under the National Housng Act wkhin # Of d yS (90) from the date hereof, Lender mey, at its option require immediate payment in tull of ali sums secured by this Securiry Instrument. A written statement of any suthorized agent of the Secretary dated subsequent to # Of d8y8 (90) from the date h�eof, declining to insure this Security Inshument and the Note, shall be deemed conclusive proof of such inelig�bility. Notwithstandhg the foregoing, this option may not be eocercised by Lender when the unavailability of insurance is solely due to Lender's failure to remit a mortgage insurance premium to the Secretery. 10. Reinstatement. Borrower has a right to be reinstated if 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 forecbsure proceedings are instituted. To remstate the Security Instrument, Borrower shall tender in a lump sum all amounts required to bring Borrower's account current including, to the extent they are obligations of Borrower under this Security instrument, forecbsure costs and reasonabie and customary attomey's fees and expenses properly associated with the forecbsure proceeding. Upon reinstatement by Borrower, this Security instrument and the obligations that it secures shall remain in effect as 'rf Lender had not required immediate payment in full. However, Lender is not required to pertnit reinstatement if: (i) Lender has accepted reinstatement after the commencement of forecbsure proceedings within two years immedietey preceding the commencement of a current forecbsure proceed'ng, (ii) reinstatement will preclude forecbsure 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. Extension of the time of payment or mod'rfication of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrowers successor in interest. Lender shail not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortizatfon of the sums secured by this Security Instrument by reason of any demand made by the orfginal BoROwer or Borrowe�s successors in interest. Any forbearance by Lender � exercising any right or remedy shall not be a waiver of or preclude the exercise of any right 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 assipns of Lender end Borrower, subject to the provisions of Paragraph 9(b). Borrow�'s covenants and agreements Sha�l be joint and several. My Borrower who co-sipns this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrument ony to mortgage, grant and convey that Borrowers interest in the Property under the terms of this Security Instrum�t; (b) is not personaly obligeted to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modi(y, forbear or make any accommodations with regard to the term of this Security Instrument or the Note without that Borrowers consent. 13. NOtICeS. My notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shali be d�ected to the Property Address or any other address Borrower designates by notice to Lender. My notice to Lender shall be given by first class mail to Lender's address stated herein or any addrass 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 in 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 c�use of this Security Instrument or the Note F5813.LM0 (2/BB) Paps 3 ot 5 1171