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ti0��0449� 1111058385 covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, for condemnation to enforce laws or regulations), then Lender may do and pay whatever is necessary to protect the value of the property and Lenders rights in the Property, including payment of taxes, hazard insurance and other items mentioned in paragraph 2. Any amounts disbursed by Lender under this paragraph shall become an additional debt of Bonower and be secured by this Security Instrument. These amounts shall bear interest from the date of disbursement, at the Note rate, and at the oprion of Lender, shall be immediately due and payable. 8. Fees. Lender may collect fees and charges authorized by the Secretary. 9. Grounds for Acceleratioq of Debt. (a) Default. Lender may, except as limited by regularions issued by the Secretary in the case of payment defaults, require immediate payment in full of all sums secured by this Security Instrument if: (i) Borrower defaults by failing to pay itt full any monthly payment required by this Security Instrument prior to or on the due date of the next monthly payment, or (ii) Borrower defaults by failing, for a period of thirly days, to perform any other obiigations contained in this Security Instrument. (b) Sale Without Credit Approval. Lender shall, if permitted by applicable Iaw (including section 341(d) of the Garn-St Germain Depository Institutions Act of 1982, 12 U.S.C. 1701 j-3(d)) and with the prior approval of the Secretary, require immediate payment in full of all surns secured by this Sacurity 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 approved in accordance with the requirements of the Secretary. (c) No Waiver, If circumstances occur that would permit Lender to require immediate payment in fuil, but Lender does not require such payments, Lender does not waive its rights with respect to subsequent events. (d) Regulations of HUD Secretary. In many circumstances regulations issued by tha Secretary will limit Lender's rights in the case of paymant defaults, to require immediate payment in full and foreclose if not paid. This Security Instrument does not authorize acceleration or foreclosure if not permitted by regulations of the Secretary. (e) Mortgage Not Insured. Borrower agrees that should this Security Instrument and the Note are not to be eligible for insnrance under the National Housing Act within 60 days from the date hereof, Lender may, at its option, require immediate payment in full of all sums secured by this Sectuity Instrument. A written statement of any authorized agent of the Secretary dated subsequent to 60 days from the date hareof, declining to insure this Security Instrument and the Note shalt 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. Reinstatement. Borrower has a right to be reinstated if Lender has required immediate payment in full because of Borrower's failure to pay an amount due under the Note or this Security Instrument. This right appIies even after foreclosure proceedings are instituted. To reinstate tha Securiry Instrument, Borrower shall tender in a lump sum all amouttts required to bring Bonower's account current including, to the extent they are obligations of Bonower under this Security Instrument, foreclosure costs and reasonable and customary attorneys' fees and expenses properly associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Security Instrument and the obligations 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 (iii) reinstatement will adversely affect the priority of the lien created by this Security Instrument. 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time of payment or FHA Nebraska Deed Of Trust - 07/08 � 391.6 Page 4 of 7