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200207717 R. Fees. Lender may collect tees and charges authorized by the Secretary. 9. Grounds for Acceleration of Debt. (a) Due and Payable. Lender may require immediate payment in full of all Sens secured by this Security Instrument if. B) A Borrower dies and the Property is not tine principal residence of at least one surviving Borrower; or (ii) All of a Borrower's title in the Property (or his or her beneficial interest in a trust owning all or part of the Property) is sold or otherwise transferred and no other Borrower retains title to the Property in fee simple or retains a household under a lease for less than 99 years which is renewable or a lease having a remaining period of not less than 50 years beyond the date of the 100th birthday of the youngest Borrower or retains a life estate (or retaining a beneficial interest in a trust with such an interest in the Property). (b) Due and Payable with Secretary Approval. Lender may require immediate payment in full of all sums secured by this Security Instrument, ,Pon approval of the Secretary, if, (i) The Property ceases to be the principal residence of a Borrower for reasons other than death and the Property is not the principal residence of at least one other Burrower; or (it) For a period of longer than twelve (12) consecutive months, a Borrower fails to occupy the Property because of physical or mental illness and the Property is riot the principal residence of at least one other Borrower; or (iii) An obligation of the Borrower tinder this Security Instrument is not performed. (c) Notice to Lender. Borrower shall notify Lender whenever any of the events listed in this Paragraph (a) (it) or (b) occur. (d) Notice to Secretary and Borrower. Lender .shall notify the Secretary and Borrower whenever the loan becomes doe and payable under Paragraph 9 (a) (ii) or (b). Lender shall not have line right tit commence foreclosure unit Borrower has had thirty (30) days after notice to either (i) Correct the matter which resulted in the Security Instrument coming due and payable; or (it) Pay the balance in fill; or (iii) Sell the Property for the lesser of the balance or 95% of the appraised value and apply the net proceeds of the sale toward the balance; or (iv) Provide the Lender with a decd in lieu of foreclosure. (e) "Trusts. Conveyance of a Borrower's interest in the Property to a most which meets the requirements of the Secretary, or conveyance of a trust's interests in the Property to a Borrower, shall not he considered a conveyance for purposes of this Paragraph 9. A trust shall not he considered an occupant or be considered as having a principal residence for purposes of this Paragraph 9. (t) Mortgage Not Insured. Borrower agrees that should this Security Insburdent and the Note not be eligible for insumnee under the National Housing Act within SIXTY DAYS from fire dale hereof, if per-milled by applicable law Lender [tiny, at its option, require immediate payment in fill of all sums secured by this Security Instrument. A written statement of any authorized agent of the Secretary dated subsequent to SIXTY DAYS tionr the date hereof, declining to insure this Security Instrument and the Note, shall be deemed conclusive proof of such ineligibility. Notwithstanding the foregoing, this option may not he exercised by Lender when the unavailability of insurance is solely due to Lender's fadure to remit a mortgage insurance premium to the Secretary. 10. No Deficiency Judgments. Borrower shall have no personal liability for payment of the debt secured by this Security Instrument. Lender may enforce the debt only through sale of the Property. Lender shall not be permitted to obtain a deficiency judgment against Borrower if lie Security Instrument is l rcvaoied If this Security lnstr'ument is assigned to the Secretary upon demand by the Secretary, Borrower shall not be liable for any difference between the mortgage insurance benefits paid to Lender and the outstanding indebtedness, including accrued interest, owed by Borrower at the dine of the assignumnt. 11. Reinstatement. Borrower has a right to be reinstated if Lender has required immediate payment in fall_ This right applies even after foreclosure proceedings are instituted_ I. reinstate this Security Instrument, Borrower shalt correct the condition which fesulted in the requirement for immediate payment in full. Foreclosure costs and reasonable and customary attorneys' fees and expenses properly associated with the foreclusnfe eaXA - 021112 N, 4