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200213481 Any amounts disbursed by Lender under this Paragraph shall become an additional debt of Borrower and be secured by this Security Instrument. These ...net, shut 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 file obligation secured by the lien in a manner acceptable to Lender', (h) 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) secrues from the holder of the lien 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 only attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Borrowet shall satisfy the lien or take one of more of the actions set forth above within 10 days of the giving ofamice - N. Fees. Lender may collect fees and charges authorised by the Secretary. 9. Grounds for Acceleration of Debt. (a) Default. Lender may, except as limited by regulations issued by the Secretary in the case of payment defaults, require immediate puymcut in full of all sums secured by this Security Instrument if (it Borrower defaults by failing to pay in full any monthly payment required by this Security Instrument prior to or on the due date al the next monthly payment, or (Ip B...we, defaults by failing, for a period of thirty days, to perform any other obligations contained in this Security lnstrurnent. (h) Sale Without Credit Approval. Lender shall, if permitted by applicable law and with the prior approval of the Secretary, require immediate payment in full of all the sums secured by this Security Instrument if: (i) All or part of the Property, or a beneficial interest in a trust owning all or pant of tine Property, is sold n otherwise transferred (other than by devise or descent) by the Borrower. and (it) The Property is not occupied by the pufchuser of 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 (d) No Waiver. 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) Regulations of HIJD Secretary. In many circumstances regulations issued by the Secretary will limit Lender's rights, in the case of payment defaults. to require immediate payment in full and foreclose if not paid. This Security Instrument does not authorize acceleration or foreclosure if not permitted by egulations of the Secretary. (e) Mortgage Not Insured. Borrower agrees that should this Security Instrument and the Note secured thereby not be eligible for m,urunce under Ilm National Housing Act within 90 Days from the date hereof, Lender may, at its option and notwifhstanding anything in pamgmph 9, require immediate payment in fall of all sums secured by this Security Instrument A wriften statement of any authorized agent of the Secretary dated subsequent to 90 Days from the dale hereof, declining to insure tills Security Insnunnent and the Note secured thereby, shall be deemed conclusive proof of such ineligibility . Notwithstanding the fonegoing, this option may 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. 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 foreclosure proceedings are instituted. To reinstate the Security Instrument. Borrower shall tender in a lamp suer all amounts required to bring Borrower's account current including, to the extent they arc obligations of Borrower under this Security Instrument. foreclosure costs and reasonable and customary attorneys' fees and expenses properly associated with the foreclusure proceeding. Upon reinstatement by Borrower, this Security Instrument and the obligations that it secures shall amain in effect as if Lender had not required immediate payment in full. However, Lender is not required to permit reinstatement if; 0) Lender bus accepted reinstatement after the commencement of foreclosure proceedings within two years immediately preceding the ummencement of a current fofech sue proceeding. iii) reinstatement will preclude foreclosure on different grounds in the future, or (Ill) reinsfatmnenl will advenely affect the priority of the lien created by this Security Instrument. 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension ofthe time of payment or modification 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 Bo lowei 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 secuted by this Security Instrument by reason of any demand made by the original Borrower or Bunvwefs successors in interest Any forbearance by Lender in exercising any fighter remedy shall nut be u wuivenff or preclude the exeicise of any right or remedy. 12. Successors and Assigns Bound; Joint and Several Liability; Co- Signers. The euvenvrts and agreennents of dtis Security Insrument shall hind and benebl the lace :a,ms and'asslgns of Lender and Bormwer, subject to the provisions of Paragraph 9b Bormwefs covenants and agreements shall be joint and several. Any Borrower who co signs this Security Insounnent but does not execute the Note (a) is co-signing this Security Instrument only to mortgage, grant and mnvcy that Borrower interest in the Property underthe terms of this Security Instrument, (b) is not personally obligated to pay the suns secured by this Security Instrument: and (c) agrees that Lenderand any other Bonower may agree to extend, modify, forbear or mukc any accommodations with regard to the terms of this Security Instrument or the Note without that Borower's muscat. 13. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by fist 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 Lender shall be given by first class mail to Lender's address stated herein or any address Lcndcr designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Bonower or Lender when given as provided in this paragraph. 14. Governing Law; Severabilily. This Security Instrument shall be governed by Fedeal law and the law of thejunsdicuon in which file Property is located In Ilse event that any provision or clause ofthis Security Instrument or the Note conflicts with applicable law, such Pogo 3 ors 1101- Cc(M1) 1611,14 GOT000039e 201