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99 112326 My amounts disbursed by Lender under this Paragraph shali 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 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 lien an agreement satisfactory to Lender subordinating the lien to this Securiry 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 satisy the lien or take one or more of the actions set forth above within 10 days of the givhg of notice. 8. Fees. Lender may collect fees and charges authorized by the Secretary. 9. Grounds for Acceleration of Debt (a) Default �ender may, eoccept as limked by regulations issued by the Secretary in the case of payment defeuRs, requKe immediate payment in full of all sums secured by this Security Instrument if: (i) Borrower defauks by failing to pay in full any monthly payment required by this Security Instrument prior to or on the due date of the next monthly payment, or (ii) Borrower defauRs by failing, for a period of thirty days, to perform any other obligations contained in this Security Instrument. (b) Sale Without Credit Approval. Lender shall, 'rf permitted by applicable law (including section 341(d) of the Gam-St Germain Depository Institutions Act of 1982, 12 U.S.C. 1701j�(d)) and with the prior approval of the Secretary, require immediate payment in full of all the sums secured by this Security Instrument 'rf: (i) All or part of the Property, or a b�eficial 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 purcheser or grantee as his or her principal residence, or the purchaser or grantee does so occupy the Property, but his or her cred'R has not been approved in accordance wkh the requirements of the Secretary. (C) NO W81V@t'. If circumstances occur that would permit Lender to require immediate payment h full, but Lender . does not require such payments, Lender does not waive its rights with respect to subsequent events. (d) RegulBtiOnB Of HUD S@CretBty. In many circumstances regulations issued by the Secretary wi11 Iimit Lenders rights, in the case of payment defaufts, to requKe immediate payment in full and forecbse iF not paid. This Security Instrument does not suthorize acceleratwn or foreclosure if 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, L�der 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 subseque�t to # Of d8y8 (90) from the date hereof, declining to insure this Security Instrument and the Note, shall be de�ned conclusive proof ot such ineligibility. Notwithstanding the foregoing, this option mey not be exercised by Lender when the unavailability of insurance is solely due to Lender's failure to remit a mortgage insurance premium to the Secretary. 10. Reinstatement. Bonower has a right to be reinstated 'rf Lender has required immediate payment in full because of Borrowers failure to pay an amount due under the Note or this Security Instrument. This right applies even after foreclosure proceedings are instituted. To reinstate 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 ot 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 InsWment and the obligations that i[ secures shall remain in effect as 'rf Lender had not required immediate payment in full. However, Lender is not required to permk reinstatement 'rf: (i) Lender has accepted reinstatement after the commencement of forecbsure proceedings within two years immediately preceding the commencement of a current foreclosure proceeding, (ii) reinstatement will preclude foreclosure on different grounds in the future, or (iii) reinstatement will adversey 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 Secur'ity 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 aga�st 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 Borrowe�s successors in interest. My forbearance by Lender in 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. rne covenants and agreements of this Security Instrument shall bind and benefd the successors and assigns Af Lender and Borrower, subject to the provisions 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 e�cecute the Note: (a) is co-signing this Security Instrument ony 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) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the term of this Security Instrument or the Note without that Borrower's consent. 13. Notices. My notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing k by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice to L�der shall be given by first class mail to Lenders address stated herein or any address Lender designates by notice to Borrower. My notice provided for in this Security Instrument shall be deemed to have been given to Borcower or Lender when given as provided in this paragraph. 14. Governing Law; Severability. This Security Instrument shall be govemed by Federal lew and the law of the jurisdiction m which the Property is located. In the event that any provision or clause of this Security Instrument or the Note F5873.LM0(2/99) Page 3 of 5