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2oloosg~s 9. Groundsfor Accelerationof Debt. (a) Due and Payable. Lender may require immediate payment in full of all sums secured by this Security Instrument if: (i) A Harrower dies and the Property is oat the principal residence of at least one surviving Borrower; or (ii) All of a Borrower's title in the Property (ar his or her beneficial interest in a trust awning all or part of the Property) is sold or otherwise transferred and no other Borrower retains title to the Property in fee simple ar 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 (ar retaining a beneficial interest in a trust with such an interest in the Property); ar (iii) The Property ceases to be the principal residence of a Harrower for reasons other than death and the Property is not the principal residence of at least one other Borrower, ar (iv) 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 oat the principal residence of at least one other Harrower; or (v) An obligation of the Harrower under this Security Instrument is not performed. (b) Notice to Lender. Borrower shall notify Lender whenever any of the events listed in Paragraph 9(a)(ii}(v) occur. (c) Notice to Borrower. Lender shall notify Bonnwer whenever the loan becomes due and payable under Paragraph 9 {a)(ii}-(v). Lender shall oat have the right to commence foreclosure until Harrower has had thirty (30) days after notice to either: (i) Correct the matter which resulted in the Security Instrument coming due and payable; nr (ii) Pay the balance in full; or (iii) Sell the Property for the lesser of the balance or 95% of the appraised value and apply the net proceeds of the sale toward the balance; or (iv) Provide the Lender with a deed in lieu of foreclosure. (d) Trusts. Conveyance of Borrower's interest in the Property to a trust which meets the requirements of the Secretary, nr 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. 1p. No DeficiencyJudgmsnts.Barrower shall have no personal liability far payment of the debt 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. 11. Reinstatement.Borrower has a right to be reinstated if Lender has required immediate payment in full. This right applies even after foreclosure 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 reasonable and customary attorneys' fees and expenses properly associated with the foreclosure proceeding shall be added to the principal balance. Upon reinstatement by Borrower, this Security Instrument and the obligations that 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 within two years immediately preceding the commencement of a current foreclosure proceeding, (ii) reinstatement will preclude foreclosure an different grounds in the future, or (iii) reinstatement will adversely affect the priority of the Security Instrument. 12. Llen Status. (a) Modification. Borrower agrees to extend this Security Instrument in accordance with this Paragraph 12(a}. If Lender determines that the original lien status of the Security Instrument is jeopardized under state law (including but not limited to situations where the amount secured by the Security Instrument equals or exceeds the maximum principal amount stated or the maximum period under which ban advances retain First American Loan Production Services Nebraska WECM Second Security Instrument ®2008 First American Real Estate Solutkms LLG FALPS# WB11: 04/08 NMFL tt8808NE I]oc Id: QGNE Page 4