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201103424 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 not the principal residence of at least one surviving Borrower; or CIO All of a Borrower's title in the Property (or his or her beneficial interest in a trust owning all or part of the Property) is sold 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 or 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 such an interest in the Property). ((b) Due and Payable with Secretary Approval. Lender may require immediate payment in fu(1 of all sums secured by this Security Instrument, upon approval of the Secretary, it (r) The Property ceases to be the principal residence of a Borrower for reasons other than death and the Property is not the principal residence of at least one other Borrower, or (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 rpapal residence of at least one other Bonfower, or iii) An obligation of the Borrower under this Security Instrument is riot performed. (c) Notate to Lender. Borrower shall 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 has had t4irty (30) days after notice to either: (i) Correct the matter which resulted in the Security Instrument coming due and payable; or �a) Pay the balance in full; or iir) 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. (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 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 uof this Paragraph 9. Nt Insured. Borrower agrees that should this Secuii'ty Instrument and the eligible for insurance under the National Housing Act within SIXTY DAYS from the date hereof, if itted by applicable law Lender may, at its option, require immediate payment in ful o lf 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 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 Judgments. Borrower shall have no personal liability for 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. If this Security Instrument is assigned to the Secretary upon demand by the Secretary, Borrower shall not be liable for 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 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 First American Loan Production Services Nebraska HECM Security instrument © 2008 First American Real Estate Solutions LLC FALPS # UB03 : 0501 Page 4 NMFL #8807NE (QFNE)