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200705702 enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to tins Security Instnllnent. If Lender detennines that any part of the Property is subject to a lien which may attain priority over this Security Instnllnent, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within I 0 days of the giving of notice. 8. Fees. Lender may collect fees and charges authorized 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 payment in full of all sums secured by this Security Instnlment if: (i) Borrower defaults by failing to pay in full any monthly payment required by this Security Instollnent prior to or on the due date of the next monthly payment, or (ii) Borrower defaults 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, if permitted by applicable law (including section 341(d) of the Gam-St. Gennain Depository Institutions Act of 1982, 12 D.S.C. 1701j-3(d)) and with the prior approval of the Secretary, require immediate payment in full of all SUIns secured by this Security Instnllnent if: (i) All or part of the Property, or a beneficial interest in a tmst owning all or part of the Property, is sold or otherwise transferred (other than by devise or descent), and (ii) TIle Property is not occupied by the purchaser or grantec 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 require such payments, Lender does not waive its rights WitIl respect to subsequent events. (d) Regulations of HUD 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 Instnllncnt does not authorize acceleration or foreclosure if not pennitted by regulations of the Sccretary. (e) Mortgage Not Insured. Borrower agrccs that if this Security Instrument and the Note are not detennined to be eligible for insurance under the National Housing Act within eight months from tile 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 eight months from 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 be exercised by Lender when the unavailability of insurance is solely due to Lender's failure to remit a mortgage insurance prcmium to the Secretary. 10. Reinstatement. Borrower has a right to be rcinstated if Lender has required immediate payment in full because of Borrower's failure to pay an amount due uuder the Note or this Security Instmment. This right applies even aftcr foreclosure proceedings are instinlted. To reinstate the Security Instnllnent, Borrower shall tender in a lump sum all amounts required to bring Borrower's account current including, to the extent they are obligations of Borrower under iliis Security Instnllnent, foreclosure costs and reasonable and customary attomeys' fees and expenses properly associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Security Instnllllent and the obligations iliat 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 commencement of foreclosure proceedings wiiliin 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 adversely affect the priority of the lien created by this Security Instnllnent. 11. Borrower Not Released; Forbearance by Lender Not a Waiver. Extension of the time of payment or modification of amortization of the sums secured by this Security Instmment granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in intcrest or refhse to extend time for payment or oilierwise modify amortization of the SUlllS secured by this Security Instmment by reason of any demand made by the original Borrower or Borrower's successors in interest. Any 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. The covenants mId agreements of this Security Instnllnent shall bind and benefit the successors and assigns of Lender mId Borrower, subject to tile provisions of paragraph 9(b). Borrower's covenants mId agreements shall be joint and several. Any Borrower who co-signs this Security Instmment but does not exeeute the Note: (a) is co-signing this Security Instrument only to mortgage, grdnt mId convey that NEBRASKA FHA DEED OF TRUST ITEM T2696L4 (030a}-MERS (Pa!:e4oj7I'age,') ~ 5':7 GREATLAND. To Order Cell: 1-800-53(}-9393 0 Fax: 616-791-1131