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200213670 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 data 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 four the holder of the lien an agreement satisfactory to lender sobordinating the lien to this Security Instrument If Lender determines that any part of the Property is subject to a Tien which may attain priority over this Security Instrument. Lender may give Borrower a notice Identifying the lien. Borzower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. S. Fees Lender may collect fees and charges authorized by the Secretary. 9. Gramdsfor Amoderationaf Ddit (a) Default Lender may, except as limited by regulations issued by the Secretary in the case of payment defaults, require immediate paymcnt in full of all sums secured by this Security Instrument if: in Borrower defaults by failing to pay in full any monthly payment required by this Security Instrument prior to or on the due data of the next monthly payment, or (ii) Bonrower defaults by failing_ for a period of thirty days, to perform any other obligations contained In this Security Instrument. (b) Bale Wiflgrt Credit Approval. Lender shall, if permitted by applicable law and with the prior approval of the Scachux, require immediate payment in full of all the sums secured by this Security Instrument if. (1) All or part of the Property, or a beneficial interest in a test owning all or part of the Popery, y, is sold or otherwise transferred (other than by devise or desceml by the Borrower, and (n) The Property is not occupied by the purchaser 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 . (c) No Waiver. If circumstances occur that would permit Lender to require immediate payment in full, but Lender does not regmm such payments, Lender does not waive its rights with respect to subsequent events (4 Regulations of HUD Setaretary. In many circumstances regulations issued by the Senemy will limit Lentos 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 regulations of the Secretary. (e) Mortgage Not lual¢ed. Borrower agrees that should this Security Instrument and the Note secured thereby not be eligible for insurance under the National Housing Act within 90 Days from the date hereof. Lender may, at its option and notwithstanding anything in paragraph 9, 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 90 Days from the date hereof. declining to insure this Security Instrument and the Note secured thereby, shall be deemed conclusive proof of such ineligibility, Notwithstanding the foregoing, 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 . IQ RemNalwt Bannister has a right to be reinstated if Lcndcr has rcquimd immediate payment in full because of Borrower's failure o pay an amount due under the Nine or this Security Instrument . This right applies even after foreclosure proceedings are Instituted. To reinstate the Security Instruuent, Borrower shall tender in a lump sum all amounts required to bring Borrower's account current including to the extent they are ahligations of Borrower under this Security Instrument, f neclowre costs and reasonable and customary attorneys' fees and expenses properly associated with the foreclosure 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: in Leader has accepted reinstatement after the commeneement of foreclosure proceedings within two years fmmedimely preceding the commencement of a current foreclosure proceeding. (a) reinstatement will preclude foreclosure on different grounds in the More, or (iii) reinstatement will adversely affect the priority of the lien created by this Security Instrument. IL BorrarQ Not Released; ForbearanceBy Leader Nota Waiver. Extension of the Lime 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 mlease the liability of the original Borrower or Borrower's successor in interest Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time 1'or payment or otherwise modiy amortisation of the sums secured by this Security instrument by reason of any demand made by the original Borrower or Borrowers successors in interest Any forbearance by Lender in exercising any right or remedy shall not he a waiver of or preclude the exercise diary right or remedy. 12 SucceseorsadAlegreBaond; Joel and Serval LiaJaMy; Coafttas The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of Paragraph 9.1b. Borrower s covenants and agreements shall be joint and several. Any Borrower who co -signs this Security Instrument but doe, not execute the Note. (a1 Is co- signing Iris Security Instrument only to mortgage. so cut and convey that Borrowers 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 occonhmodations with regard to the terns of this Security Instrument or the Note without hat Borrowers consent. L4. Nations. Any 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 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 doss mail to Lenders address stated herein or any address Lender designates by notice to Borrower. Any notice presided for In this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 14Gaverno w;Seucabiity. This Security Instrument shall be govemed by Federal law and the law at thejurisdicdoo In which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such rr, hors 1101 CV (801n) 1623291