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2oiooss~~ 9. Groundsfor Accelisrationof Debt. (a) Due and Payable. Lender may require immediate payment in full of alt sums secured by this Security instrument if: (i) A Borrower dies and the Property is oat the principal residence of at least one surviving Harrower; or (ii) All of a Borrower's title in the Property or his or her beneficial interest in a trust owning all nr part of the Property) _ is so or otherwise transferred and no other Borrower retains title to the Property In. fee simple or retains a leasehold under a lease for not less than 99 years which is renewable ar a lease having a remaining period of not less than 50 years beyond the date of the 100th birthday of the youngest Borrower or retains a life estate {or retaining a beneficial interest in a trust with suc 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 Secunty Instrument, upon approval of the Secretary, if: (I) The Property ceases to be the principal residence of a Borrower for reasons other Phan death and the Property is not the principal residence of at least one other Horrower; ar (ii) For a period of longer than twelve (12) consecutive months, a Borrower fails to occupy the Property because of physical or mental illness and the Property is not the rincipal residence of at least one other Borrower; or ~ii) An obligation of the Borrower under this Security Instrument is not performed. (c) Notice to Lender. Borrower shalt notify Lender whenever any of the events listed in his Paragraph (a) (ii) or (b) occur. (d) Notice to 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 teas had t irty (0) days after notice to either: (i) Correct the matter which resulted in the Security Instrument coming due and payable; ar u) Pay the balance in full; or iii) 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 forecbsure. (e) Trusts. Conveyance of a Borrowers interest in the Property to a trust which meets the requirements of the Secretary, or conveyance of a trust's interests in the Property to a Borrower, shall not be considered a conveyance for purposes of this Paragraph 9. A trust shall not be considered 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 1NVote not be eligible for insurance under the National Housing Act within SIXTY DAYS from the date hereof, if permitted by applipble 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 SIXTY DAYS from the date hereof, declining to insure this Security Instrument and the Nate, shall lie deemed conclusive proof of such ineligibili Notwithstanding the foregoing, this option may not be exercised by Lender when t e unavailability of insurance is solely due to Lenders failure to remit a mortgage insurance premium to the Secretary. 10. No Deficiency Judgmenu. Borrower shall have no personal liability for payment of the deb# secured by this Security Instrument. Lender may enforce the .debt only through sale of the Property. Lender shall not be permitted to obtain a deficiency judgment against Borrower 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 Borrower 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 forecbsure proceedings are instituted. To reinstate this Security Instrument, Borrower shall correct the condition which resulted in the requirement for immediate payment in full. Foreclosure costs and First American loan Production Services Nebraska HECM SecuHty Instrument © 2008 First American Real Estate Solutions LLC FALPS # U603 : 05/0$ Page 4 NMFL #8807NE (QFNE)