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~o~ooi~7o 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 6 0 DAYS 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 premium to the Secretary. 10. Reinstatement. Borrower has a tiglat to be reinstated if Lender has required immediate payment iu full because of Borrower's failure to pay an amount duo under the Nole or this Security Instrument. 'this right applies even after foreclosure proceedings are instituted. 'I'o reinstate the Security Insttutnent, 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 this Security Instrument, foreclosure 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 itt effect as if Lender had not required immediate payment in full. However, Lender is not required to permit reinstatement if: (i) Leander has accepted reinstatement after the commencement of foreclosure proceedings within two years immediately preceding khe 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 Instrument. 11. Borrower Not Released; forbearance by Lcuder Not a Waiver. lxtension of the time of payment or modification of amortization of the sums secured by this Security lnsarurnent granted by Leudet 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 interest or refuse to extend time for payment of otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower' s successors in interest. Any forbearance by Lender in exercising any right of 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 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(b). Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property under the terms of this 5ecutity lnstrument; (h) 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 accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. 13. Notiees. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it of 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 Burrower designates by notice to Leader. Any notice to Lender shall. be given by first class mail to Lender's address stated herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 14. Governing Law; Severability. This 5ecutity lustrumetat shall be governed by federal law and the law of the jurisdiction itt which the Property is located. In the event that any provision or clause of this Security lnstrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. 'l'o this end the provisions of this Security Instrwnent and the Note are declared to be severable. 1S. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 16. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Ilazardous Substances on of in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property that is in violation of any Bnvironntetatal Law. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Ilazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property. Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge. If Borrower learns, or is notified by arty governmental or regulatory authority, that any removal of other remediation of any hazardous Substances affectitg the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with 1/uvironmental Law. As used in this paragraph 16, "Ilazardous Substances" are those substances defined as toxic or hazardous substances by Enviromnental Law attd the following substances: gasoline, kerosene, other tlanunable of toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos of formaldehyde, and radioactive materials. As used in this paragraph 16, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety of etavironmental protection. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 17. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all the rents and revenues of the Property. Borrower authorizes Lauder or Lender's agents to collect the rents and tevettues and hereby directs each tenant of the Property to pay the rents to Lender or Lender's agents. however, prior to Lender's notice to Borrower of Borrower's breach of any covenant or agreement in the Security Instrument, Borrower shall collect attd FHA NE6RASKA bEED OF TRUST - M F~tS DocMagic ~',~t~rrrm~~ soo-sas-r3sz NEDOTZ.FHA 11/01/08 Page 4 of 7 www.docmagic.com