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�01103639 (b) 5ale Without Cralit Approval. Lender shatl, if permitted by applicable law (including Secrion 341(d) of the Garn-St. Germain Depository Institutions Act of 1982, 12 U.S.C. 1701j-3(d)) and with the prior approval of the S�retary, require immediate payment in full of all sums secured by this Security Instrument if: (i) All or part of the Property, or a beneficial interest in a trust owning all or part of the Property, is sold or otherwise transferred (other than by devise or descent), and (ii) The Property is not occupied by the purchaser or grantee as his or her principal residence, or the purchaser or grantee does so occupy the Property but his or her credit has not been approvefl in accordance with the requirements of the Secretary. (c) No Waiver. If circumstances occur that would permit Lender to require immediate payment in full, but Lender does not require such payments, Lender does not waive its rights with respect to subsequent events. (d) Regulations of AUD Secretaiy. In many circumstances regulations issued by the S�retary will limit Lender's rights, in the case of payment defaults, to require immediate payment in fu11 and foreclose if not paid. This S�urity Instrument does not authorize accelerarion or foreclosure if not permitte� by regulations of the S�retary. (e) Mortgage Not Insured. Bonower agr�s that if this Security Insmimem and the Note are not determinerl to be eligible for insurance under the National Housing Act within 60 tlays from the date her�f, i�nder may, at its oprion, require immediate payment in full of all sums secur�i by this Security Instrument. A written statement of any authorized agent of the Seeretary dated subsequent to 60 days from the date her�f, declining to insure this Security Instrument and the Note, shall be deemed conclusive proof of such ineligibility. IVotwithstanding 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 �n.c�ra„ce premium to the Secretary. 10. Reinstatement. Bonower has a right to be reinstated if Lender has required immediate payment in full because of Bonower's failure to pay an amount due under the Note or this Security Instrument. This right applies even after foreclosure proceedings are instituterl. To reinstate the S�urity Instrument, Bonower shall tender in a lump sum all amounts required to bring Bonower's account current including, to the extent they are obligarions of Borrower under this Security Instrument, foreclosure costs and reasonable and customary attomeys' f�s and expenses properly associated with the foreclosure proc,eeding. Upon reinstatement by Bonower, this Security Instrument and the obligations that it s�ures shall remain in effect as if Lender had not re,quired immefliate payment in full. However, Lender is not require� to germit reinstatement if: (i) Lender has accepted reinstatement after the commencement of foreclosure proceeflings within two years immediately prer,eding the commencement of a current foreclosure procceding, (ii) reinstatement will preclude foreclosure on different grounds in the future, or (iii) reinstatement will adversely affect the priority of the lien created by this Security Inslxument. 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time of payment or modification of amortization of the sums se,cured by this Security Instrument granted by Lender to any suc,cessor in interest of Bonower shall not operate to release the liability of the original Borrower or Bonower's successor in interest. Lender shall not be require�i to commence proce�iings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums se�ured by this S�urity Insttvment by reason of any demand made by the original Bonower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remeriy shall ttot be a waiver of or preclude the exercise of any right or remefly. 12. Successors and Assigns Bound; Joint and Several Liability; Co-Signers. The covenants and agre�ments of this Security Instrument shall bind and benefit the successors and assigns of Lender and Banower, subjed to the provisions of pazagraph 9(b). Borrower's covenants and agreements shall be joint and several. Any Borro�ver who co-signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Bonower's interest in the Property under the terms of tlus Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instxvment; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodarions with regard to the terms of this Security Instrument or the Note without that Bonower's consent. FHA Oeed of Trust-NE J 4/98 VMP p n rr � VMP4R(NE) (0809) Wolters Kluwer Financial Services � c- J Page 5 of 9 , x�, , , . � `r,. tiA ?�'