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201009453 time dire�ily lo lhe entity which is ow�d ihc payment. If failure to pay would aciverstly affect Lcndcr's intcresl in thc Prnperty, upon Lender's request Borrowcr shall promptly furnish to I.,ender r4cc:iplti cvidcncing lhcsc payments. If Borrower fails to makc Chcsc payments nr the paymcnts required by Paragraph 2, or faila to per#orm any other covenants and agreements containcd in lhis Security Inatrumcnt, ar lhere is a le�a] proceeding that may significantly affect Lenc�er's rights in the Ptoperty (such as a proceecling in bankruptcy, for condemnation or to enforce laws or rcgulations), i.hcn Lender may do and p�y whatever is necessary lo prolect the value of the Property ancl Lender's rights in thc Properly, including payment of taxes, hazard insurance and olhcr items mentioned in Paragraph 2. Any amounts dishursed hy Lender under this paragraph shall becomc an additional debt of Borrower nnd be secured by this Security Instrumenl. 'l�hcsc amounts shal] bear interest from the date of dishursement, at the Note rate, and at the option of Lender, Shall bc 'rmmaiiately due and payablc. Borrower shall promptly discharge any lien which has priority over this Security Instntment unless Borrower: (a) agrees in writing to the paytnent of the obligation secured by the licn in a manner zcceptable to Lender; (b) contests in good faith the lien by, or defcnds against cnforcement of the licn in, legal proceedings which in the Lender's opinion operate to prevent the enf��rccment of the lien; or (c) secures from the holder of the lien an agreement satitifactory io Lcndcr subordinating the lien lo lhis Sccurity Instrument. If Lcnder determines that any part of the Property is subject to a lien which may attain ptiority ovcr this Security Instrumcni, Lender may give Borrnwer a notice identifying the lien. Borrowcr shall satisfy the lien or take onc or more of the actions sct forth above within ] 0 days o� the giving of notice. 8. Fees. Lcnder may collect fees and chargcs authorized hy the Secretary. 9. Grounds for Acceleration of Debt. (A) Default. Lender tnay, except as limited by regulations issucd by ihc Secrelary, in the case of payment defaults, require immediate paym�;nt in full of all sums securcd by this Security Instrument if: (i) Borrowcr defaults hy failing to pay in full any monthly payrnent requircd by this Sccurily Instrument prior to or on thc clue date of the next monthly payment, or (ii) Borrower defaults by failing, for a period of thirty days, to perform any othcr obligalions contained in this Security Insttumcnt. (B) Sale Without Credit Approval. Lender shall, ifpetmiiied by applicablc law (including Section 341(d) of the Garn-St. Germain De}�ository Institulions Act of 1982, 12 U.S.C. 1'�Olj-3(d)) and with the prior approval of the 5ecretary, rcquire immedi�te payment in full of all sums secured by thi5 Sccuriiy Insirumcnt if: (i) All or part of the Property, or a bcnelicial interest in a tru5t owrung all or part of the Property, is sold or otherwise transferred (other than by devise or descent), and (ii) The Property is not occupicd by the purchaser ot grantcc as his or her princip�l residence, or the purchaser or grantee does so nccupy the Property but his or her credit has not been approved in accordance with the requirement�ti of thc Secret�ry. (C) No Waiv�r. If circumstances occur that would permit Lender to require immediate payrnent in full, bui Lcndcr does not require such payment�s, Lender docs not waive its right�� with respcct to subscqucnt cvents. (D) R�gulations of HUD Secretary. In many circumstances regulations issucd 6y the Secretary will limit Lender's rights, in thc case of payment defaults, to require immediate paymenl in full and forcclose if not paid. This Security Instrument does not authorize acceleration or foreclosure if not permitted by regulations nf the Secretary. (E) Mortgage Not Insured. Borrower agrecs thal if this Security Instrument and the Note are not dcicrmincd to be eligible for insurance under the N�tional �Iousing Act within 60 days from the date hereof, Lendcr may, at iis option, require immr;cliatc payment in full of all sums secured by this Security Instrumcnt. A wriiicn statement of any authorized agetzt of the 5ecrclary dated subsequent to 60 days from the date hereof, declining to insure this Security Instrument and the Note, shall be deemed conclusive proof of such incligibilily. Notwithstanding the foregoing, this option may HCFG-00703 FHA Deed of Trust-N� VMP� Wolters Kluwer Financial Services 201012153.5.0.0.400220100630 Y Revised 4196 Page 4 017 '6335510217' �