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201006843 9. Groundsfor Accelerationof Debt. (a) Due and Payable. Lender may require immediate payment in full of all sums secured by his Security Instrument if: (i) A Borrower dies and the Property is rrvt the principal residence of at least one surviving Borrower; or (ii) All of a Borrower's title in the Property or his or her beneficial interest in a trust owning alt or part of the Property) .IS so ar otherwise transferred and no other Borrower retains title to the Properly rn, fee simple or retains a leasehold under a lease for not less than 99 years which is ren®wable or a lease having a remaining period of not less than 50 years beyond the date of the 100th birthday of the youngest Harrower ar retains a life estate (or retaining a beneficial interest in a trust with such an interest in the Property). (b) Due and Payable with Secretary Approval. Lender may require immediate payment in full of all sums secured by this Security Instrument, upon approval of the Secretary, if: i) The Property ceases to be the principal residence of a Borrower for reasons other han death and the Property is not the principal residence of at least one other Harrower; ar (ii) For a period of longer than twelve (12) consecutive months, a Borrower fails to occupy the Property because of ph sical or mental illness and the Property is not the rincipal residence of at least one other Bonnwer, or ~ii) An obligation of the Borrower under this Security Instrument is not perfamned. ~c) Notice to Lender. Borrower shall notify Lender whenever any of the events listed in this aragraph a) (ii) or (b) occur. (d) Notice o Secretary and Borrower. Lender shall notify the Secretary and Borrower whenever the loan becomes due and payable under Paragraph 9 (a) (ii) or (b .Lender shall not have the right to commence foreclosure until Borrower has had tFrirty (30) days after notice to either: (i) Garrett the matter which resulted in the Security Instrument coming due and yable; or ii) Pay the balance in full; or ui) Sell the Property for the lesser of the balance or 95% of the appraised value and ap Iy the net proceeds of the sale toward the balance; or (iv~ Provide the Lender with a deed in lieu of foreclosure. (e) Trusts. Conveyance of a Borrower's interest in the Property to a trust which meets the requirements of the Secretary, or conveyance of a trust's rnterests in the Property to a Borrower, shall not be considered a conveyance for purposes of this Paragraph 9..4 trust shall not be cnnsidered an occupant or be considered as having a principal residence for purposes of this Paragraph 9. (f) Mortgage Not Insured. Borrower agrees that should this Security Instrument and the NNate not be eligible for insurance under the National Housing Act within SIXTY DAYS from the date hereof, if permitted by applicable law 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 S*~ nAYS 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. No Deficiency Jud~ments. Borrower shall have na personal liability for payment of the debt secured by this Security nstrument. Lender may enforce the debt only through sale of the Property. Lender shall not be permitted to obtain a deficiency judgment against Harrower if the Security Instrument is foreclosed. If this Security Instrument is assigned to the Secretary upon demand by the Secretary, Borrower shall not be liable far any difference between the mortgage insurance benefits paid to Lender and the outstanding indebtedness, including accrued interest, owed by Harrower at the time of the assignment. 11. Reinstatement. Borrower has a right to be reinstated if Lender has required immediate payment in full. This right applies even after farecbsure proceedings are instituted. Ta reinstate this Security Instrument, Harrower shall correct the condition which resulted in the requirement for immediate payment in full. Foreclosure costs and First American Loan Production Services Nebraska HECM ARM Security Instrument ~ 2008 First American Real Estate Solutions LLC FALPS # YQ74 : 05/08 Page 4 NMFL #$913NE (QKNE}