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� � � r . � :� (b) Sale Without Credit Approval. Lender shall, if permitted by applicable law (including Se�tion 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 S�urity Instrument if: (i) All or part of the Property, or a beneficial interest in a trust owning all or part of the Properiy, is sold or otherwise transfened (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 grant� does so occupy the Properry but his or her eredit has not b�n approved 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 IiiJD Secretary. 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 full and foreclose if not paid. This S�uriry Instrument does not authorize acceleration or foreclosure if not permitted by regulations of the Se,cretary. (e) Mortgage Not Insured. Bonower agrees that if this Security Instrument and the Note aze not determinerl to be eligible for insurance under the National Housing Act within 60 days from the date her�f, Lender may, ax its option, require immediate payment in full of all swns securefl by this Security Instivment. A written statement of any authorized agent of the Secretary dated subsequent to 60 days from the date hereaf, d�lining to insure this Security Instrument and the Note, shall be deemed conclusive proof of such ineligibility. Notwithstanding the foregoing, this oprion 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 Seeretary. 10. Reinstatement. Bonower 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 S�urity Instniment. This right applies even after foreclosure proceedings are instituted. 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 obligations of Bonower under this S�urity Instrument, foreclosure costs and reasonable and customary attomeys' f�s and expenses properly associated with the foreclosure proceeding. Upon reinstatement by Bonower, tlus Security in. _�mQnt and the obligations that it se�ures shall remain in effect as if Lender had not required immediate payment in full. However, Lender is not require� 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 fore�losure 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 modification of amortizarion of the sums secured by this S�urity Instrument grantefl by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Bonower or Borrower's successor in interest. Lender shall not be required to commence proc,eedings against any successor in interest or refuse to extend rime for payment or otherwise modify amortization of the sums secured by this Security Insm�ment by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remefly 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 this 5ecurity Instrument shall bind and benefit the successors and assigns of Lender and Bonower, subject to the provisions of paragraph 9(b). Borrower's covenants and agreements shall be joint and several. Any Bonower who co-signs this Security Instn�ment but daes not execute the Note: (a) is co-signing this S�uriry Instrument only to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums securerl by this S�urity Instsument; and (c) agr�s that I.ender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instcvment or the Note without that Bonower's consent. FHA Deed of Trust-NE 4/96 VMP4R(NE) (0809) VMPO Pa e5of9 Wolters Kluwer Finandal Services 9 ��J ��