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. 99 11229� Any amounts disbursed by Lender under this Paragreph shall become an addkional debt of Bonower and be secured by this Security Instrument. These amounts shall bear interest irom the date of disbursement at the Note rate, and at the option of Lender, shall be immediately due and payable. Bortower shall prompty discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the oblipation 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 proceed'ngs which in the Lender's opinbn operate to prevent the enforcertient of the lien; or (c) secures trom the holder of the Nen an agresment satisfactory to Lender subordinatinp 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 pive Borrower a notice identi(ying the li�en. Borrower shall satisy the lien or take one o� more of the actions set forth above wkhfn 10 deys of the pivinp of notbe. 8. FeeB. Lender may collect fees and charges authoriaed by the Secretary. 9. Grounds br Acceleration of Debt (a) Defaul� �ender may, except as limited by regulations issued by the Secretary in the case of payment defaufts, require immediate payment in full of all sums secured by this Security instrument ff: (i) Borrower defauks by faNhg to pay in fuli any monthy payment required by this Security Instrument prior to or on the due date of the next monthy payment, or (ii) Borrower defauRs by failing, for a period of thirty days, to perform any other obli8ations contained in this Security Instrument. (b) Sale Without Credit Approval. Lender shaii, if permitted by applicable law (including section 341(d) of the GamSt Germain DeposRory Institutions Act of 1982, 12 U.S.C. 1701 j-3(d)) and with the prior approval of the Secretary, require immediete payment in full of ali the sums secured by this Security Instrument if: (i) All or part of the Property, or a beneficial int�est in a trust owning all or paR of the Properry, 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 xcupy the Property, but his or her credit has not been approved in accordance with the requirements of the Secretary. (C) NO Waiver. if circumstances xcur that would permit �ender to require immediate payment in full, but Lender : does not requ're such payments, Lender does not waive its rights with respect to subsequent events. (d) Regulations of HUD Secretary. In many circumstances repuletions issued by the Secretary will limit : Lender's riphts, in the case of payment defauks, to require inrr�ediate payment h full and forecbse if not paid. This Security Instrument does not authorize acceleration or forecbsure if not permitted by repulatans of the Secretary. (e) Mortgage Not Insured. Borrower egrees that if this Security Instrument and the Nore are not decermhed co : be elip�ble for insurance under the National Housing Act within # Of d8y8 (90) irom the date hereof, Lender : may, at its option require immediate payment in full of all sums secured by this Security Instrument. A written statement of any authorized agent of the Secretary dated subsequent to # Of d8y8 (90) from the date h�eof, declining to insure this Security Instrument and the Note, shall be deemed conclusive proof of such inelipibility. Notwkhstanding the foregoing, this option mey not be exercised by Lender when the unavailability of insurance is soley due to Lender's failure to remit a mortgage insurence premium to the Secretary. 10. Re111St8tER�1@Ilt. Borrower has a right to be reinstated ff Lender has required immediete payment in full because of BoROwers failure to pay an amount due under the Note or this Security Instrument. This right applies ev� atter forecbsure prxeed'ngs ere instituted. To reinstate the Security Instrument, Borrower shall tender in a lump sum all emounts required to bring Borrower's account current including, to the extent they are obligations of Borrower under this Security Instrument, forecbsure costs and reasonable and customary attomey's fees and expenses propery associated wkh the forecbsure 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 if: (i) Lender has accepted reinstatement after the commencernent of forecbsure proceedings within two years immediatey preceding the commencement of a current forecbsure proceeding, (ii) reinstatement will preciude forecbsure on different grounds in the future, or (iii) reinstatement wilt adverseN affect the priority of the lien created by this Security Instrument. 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extensbn of the time ot payment or modification of amortizatbn of the sums secured by this Security Instrument granted by Lender to any successor in interest of : BoROwer shall not operate to release the liability of the oripnal Borrower or Borrower's successor in interest. Lender shall not be required to commence proceedhgs against any successor h interest or refuse to extend time for payment or otherwise modiy : amortizatbn of the sums secured by this Security Instrument by reason of any demand made by the oripinal Borrower or Borrower's successors in hterest. My' forbearance by Lender in exercising eny ripht or remedy shall not be a wahrer of or : preclude the exercise of eny right or remedy. 12. Successors and Assigns Bound; Joint and Severai Liability; Co-signera rne covenancs and : agreements of this Security Instrument shall bind and benefit the successors and assi8ns of Lender and Borrower, subject to the : provisbns of Paragraph 9(b). Borrower's covenants and agreements shall be joint and several. My Borrower who co-signs this Security Instrument but does not eocecute the Note: (a) is co-signin� th� Security Instrument ony to mortgage, grant end convey that BoROwer's interest in the PropeRy under the terms of this Security Instrument; (b) is not personaly obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodatans with regard to the term of this Security MsWment or the Note without that •Borrower's consent. i_ 13. Notices. nny notice to BoROwer provided for in this Securiry Instrument shali be given by delivering it or by mailing k : by first class mail unless epplicable law requires use of another method. The notice shall be directed to the Property Address or : any other address Borrower desipnates by notice to Lender. My notice to Lender shall be given by first class mail to Lenders : address stated herein or any eddress 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 Securiry Instrument shall be govemed by Federal law and the law of the jurisdictbn in which the Property is bcated. In the event that any provision or clause of this Security Instrument or the Note FSBI3.LM0(2/99) Paps 3 of 5 �