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�01104210 (b) Sale Without Credit Approval. Lender shall, if permitted by applicable law (including Section 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 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 Properiy is not occupied by the purchaser or grantee as his or her principal residence, or the purchaser or grantee does so occupy the Properiy but his or her credit has not been approved in accordance with the requirements of the S�retary. (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 HLTD Secretaiy. In many circumstances regulations issued by the Secretary will limit Lender's rights, in the case of payment defaults, to require immediate payment in fu11 and foreclose if not paid. This Security Instrument does not authorize accelerarion or foreclosure if not permitted by regulations of the Secretary. (e) Mortgage Not Insured. Borrower agrees that if this Security Inst�ment and the Note aze not determined to be eligible for insurance under the National Housing Act within 60 days from the date hereaf, Lender may, at its option, require immediate payment in full of all sums secured by tlus S�urity Instrument. A written statement of any authorized agent of the Secretary 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. Notwithstanding the foregoing, tlus 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 S�retary. 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 S�urity Instivment. This right applies even after foreclosure proceedings are instituted. To reinstate the Security Instrument, Borrower shall tender in a lump sum all amounts required to bring Bonower's account current including, to the extent they aze obligarions of Bonower under this Security Instrument, for�losure costs and reasonable and customary attorneys' fees and expenses properly associated with the fore�losure proceeding. Upon �reinstatement by Borrower, this Security Instrument and the obligarions 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 on different grounds in the future, or (iu) reinstatement will adversely aff�t the priority of the lien created by this S�urity Instrument. 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time of payment or modification of amortizarion of the sums s�ured by this 5ecurity Instrument granted by Lender to any successor in interest of Bonower shall not operate to release the liability of the original Bonower or Bonower's successor in interest. Lender shall not be require� to commence proceedings against any successor in interest or refuse to extend rime for payment or otherwise modify amortization of the sums securerl by this S�uriry Instniment by reason of any demand made by the original Borrower or Bonower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or pr�lude the exercise of any right or remefly. 12. Successors and Assigns Bound; Joint and 5everal Liability; Co-Signers. The covenants and agreements of this S�urity Instrument shall bind and benefit the successors and assigns of Lender and Bonower, subje,ct to the provisions of paragraph 9(b). Bonower's covenants and agreements shall be joint and several. Any Bonower who co-signs this S�urity Instrument but does not exe,cute the Note: (a) is co-signing this S�urity Instrument only to mortgage, grant and convey that Bonower's interest in the Property under the terms of this S�urity Inst�vment; (b) is not personally obligated to pay the sums secured by this Security Instn�mment; and (c) agrees that Lender and any other Borrower may agree to extend, madify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Bonower's consent. FHA Deed of Trust-NE 4/96 VMP � �� VMP4H(NE) (0809) Wolters Kluwer Financial Services Page 6 of 9