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�01�0407� ( � (b) Sale Without Creclit Approval. Lender shall, if permitted by applicable law (including Section 341(d) of the Garn-St. Germain Depository Insriturions Act of 1982, 12 U.S.C. 1701j-3(d)) and with the prior approval of the Secretary, 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 occupiefl by the purchaser or grantee as his or her principal residence, or the the Pro e but his or her creflit has not been a roved in purchaser or grantee does so occupy p rty PP accordance with the requirements of the Seeretary. (c) No Waiver. If circumstances occur that would permit Lender to require immediate payment in full, but Lender does not waive its ri ts with res t to subs uent events. r uire such a ents � Lender does not , � P� �l P Ym . . . . . In man circumstances re arions issued b the Secretary will l�ut d R aHons of HUD Secretary y gu1 Y () � � if not L.ender s rights, in the case of payment defaults, to require unmediate payment m full and foreclose paid. This Security Instrvment does not authorize acceleration or for�losure if not permitted by regulations of the Secretary. (e) Mortgage Not Insured. Bonower agr�s that if this Se,curity Inst�ument and the Note are not dete�rmine� ional Hous' Act within 60 da s from the date hereof, Lender to be eligible for insurance under the Nat mg y ma , at its o tion, require immediate payment in full of all sums secured by this S�urity Insixument. A Y P nt to 60 da s from the date her�f written statement of any authorized agent of the S�retary dated subseque y , ent and the Note shall he deemed conclusive roof of such declining to insure this Securiry Instrum , P 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. I 10. Reinstatement. Borrower has a right to be reinstatefl if Lender has requirefl immefliate payment in fiill e of Bonower's failure to pay an amount due under the Note or this S�urity Instrument. T h is ri g ht app lies eve' after foreclosure proceedings are instituted. To reinstate the Security Instrument, Borrower shall tender in a 1 sum all amounts required to bring Bonower's account cunent including, to the extent they are obligations of Bo wer under this Security Instrument, foreclosure costs and reasonable and customary attomeys' fces and e�enses pro � erly associated with the foreclosure proc,e�ing. Upon reinstatement by Borrower, this S�urity Instrument and the i bligarions that it secures shall remain in effect as if Lender had not required immediate payment in full. Ho �ver, I.ender is not required to permit reinstatement if: (i) Lender has accepted reinstatement after the co ' encement of for�losure proceedings within two yeazs immediately pre�eding the commencement of a current for losure proceeding, (ii) reinstatement will pre.clude fore.closure on different grounds in the future, or (iu) re' ' ta.tement will adversely affect the priority of the lien created by this Security Instrument. I ll. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time of payment or mo ficarion of amortizarion of the sums secured by this Security Instrument granted by Lznder to any successor in int Est of Borrower shall not operate to release the liability of the original Bonower or Bonower's successor in int est. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend tim for payment or otherwise modify amortizarion of the sums secured by this Security Instrument by reason of any d d made by the original Borrower or Bonower's successors in interest. Any forbearance by I.euder in exercising an "ght or remedy shall not be a waiver of or preclude the exercise of any right or remedy. '12. Successors and Assigns Bound; Joint and Several Liability; Co-Signers. The covenants and agreements of 's Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the pro 'sions of pazagraph 9(b). �nower's covenants and agreements sha11 be joint and several. Any Borrower who co- �ns this 5�urity Instrument but does not exe,cute the Note: (a) is co-signing this S�urity Instniment only to mo gage, grant and convey that Borrower's interest in the Property under the terms of this S�urity Instxument;, (b) is t personally obligated to pay the sums s�ured by this Security Instrument; and (c) agr�s that Lender and any oth Bonower may agree to extend, modify, forbear or make any accommodations with regazd to the terms of this S� ' Instivment or the Note without that Bonower's consent. 3d of Trust-NE Kluwar Financial Services 4/98 VMP4R(NE) (0809) Page 5 of 9 � � . . • � `� �