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200707835 enforcement of the lien; or (c) secure~ from the holder of thc licn an agreement satisfactory to Lender subordinating thc licn to tins Security Instrument. If Lender detennines that any part of the Property is subject to a lien which may attain priority ovcr this Security Instrument, 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 10 days of the giving of notice. 8. I"ees. Lender may collect fees and chargcs 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 paymcnt defaults, require immediate payment in full of all sums secured by this Security Instrument if: (i) Borrower defaull~ hy 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 default~ by failing, for a period of thirty days, to perfonn any other obligations contained in t.his Security Instnllnent. (b) Sale Without Credit Approval. Lender shall, if pennitted by applicable law (including section 341 (d) of the Gam-St. Gennain Depository Inst.itutions Act of 1982, 12 U.S.c. 1701j-3(d)) and with the prior npproval of the Secretary, require immediate payment in full of all smns secured by this Security Instrument if: (i) All or part of the Property, or a beneficial interest in a trust owning all or part of the Propert.y, is sold or otherwise transferred (other than by devise or descent), and (Ii) TIle Property is not occupied by the purcha.~er or 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 require such payments, Lender does not waive its rights with respect to subsequent events. (d) Regulations of HUn 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 pennitted by regul ations of the Secretary. (e) Mortgage Not Insured. Borrower agrees that if this Security Instrument and the Note are not determined to be eligible for insurance under the National Housing Act within eight months from the 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 Instnunent 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 mort.gage 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 Seeurity Instnunent. This right applies even after 1~)reclosLlre proeeedings are instituted. To reinstate the Security Instrument, Borrower shall tender in a lump sl1m all amounts required to bring Borrower's account currcnt including, to the extent they are obligations of Borrower under this Security Instmment, foreclosure costs and reasonable mId customary attomeys' fees and expellse~ properly associated with the foreclosure procceding. Upon reinstatement by Borrower, this Security Inst.rument and the obligations that it secures shall remain in effect as if Lender had not required immediate payment in fnll. However, Lender is not required to pennit reinstatement if: (i) Lender ha.~ accepted reinstatemcnt after thc commencement of foreclosure proceedings wit.hin t.wo years immediately preceding the commencement of a current foreclosure proceeding, (ii) reinstatement will preclude forcclosure on different grounds in the future, or (iii) reinst.at.ement. will adversely affect the priority of the lien created by this Security Instrument.. 11. Borrower Not Released; J<'orbearance by Lender Not a Waiver. Extension of the time of payment or modification of amortization of t.he sums secured by this Security Instnnnent 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 snccessor in intercst or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument. by rea.~on of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or rcmcdy 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 agrecmcnts of this Security Instnunent. shall bind and benefit the snccessors and assigns of Lender and Borrower, subject to the provisions of paragraph 9(b). Borrower's covenmIts and agreements shall be joint and several. Any Borrower who co-signs this Secnrity Instmment but does not. execute t.he Note: (a) is co..signing this Security Illstnullent only to mort.gage, grant ~Uld convey that. NEBRASKA FHA DEED (>J;' TRUST ITEM T2696L4 (030a>---MERS (Page 4 (!r 7 pages) GREATLANO . To Order Call; 1-800-630-93930 Fax; 616-791-1131 ~cw