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201106775 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. Bonower has a right to be reinstated if Lender has required immediate payment in full because of Bonower's fa.ilure to pay an amount due under the Note or this Security Instrument. This right applies even after foreclosure proceedings aze instituted. To reinstate the Security Instrument, Bonower shall tender in a lump sum all amounts required to bring Borrower's account current including, to the extent they are obligations of Borrower under this Security Instrument, foreclosure costs and reasonable and customary attomeys' fees and expenses properly associated with the foreclosure proc�eding. Upon reinstatement by Borrower, this Security Instru.ment and the obligations that it se,cures 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 proc,eedings within two years immediately preceding the commencement of a current foreclosure groceeding, (ii) reinstatement will preclude foreclosure on different grounds in the future, or (iuj reinstatement will adversely affect the priority of the lien created by this Security Insmiment. 11. Borrower Not Released; Forbearance By Lender Not a Waiaer. Fxtension of the tiine of payment or modificarion of amortization of the sums secured by this Security �nstrvment grant�t by �.ender to any successor in interest of Borrower shall not operate to release the �iabilEty af the ori� Borrower or Barrower's successor in interest. Lender shall not be reqtured to corn�ea�ee procee�.ings a.gainst any successor in interest or refuse to extend time for payment or otherwise modify amortiaation of the sums securect by this Se�urity Inst�ment by reason of any demand made by the origina� Borrower or Bonower's successo�s in interesc. Aay forbearance by Lender in exercising any rigl�t ar rem�dy s?�all not be a waiver of or preclude the e�eaei.se of �y right or remedy. 12. Succ�sors ared Assegns �nd; Joint and Several Liabil'rty; Co-Sigreers. The cavenants anc� agreemenxs o�this Se�aaity �ent shall bind and benefit the successors and assigrzs of L.er�der � Borro�, sub�ect to th� grcB�sictns o€ garagraph 9@). Borrower's covenants anc� agreenients sha�1 be jaint and severaP. Ar�y Bc>arower �fio co-signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Irtstnranent anly to mortgage, grant and convey that �orrower's iaterest in the Prop�rty un€ier the terms of t�tis Security Instrument; (b) is not personatly obligated to pay the sums secured by this 5ecurity Inst�ent; and. (c) agrees that Lender and any other Borrower may agree to extend, modify, farbear oz make a�►Sr aceom�ations with regard to the terms of this Security Instrument or the Note without ttiat Bvrrow+er's co�sent. 13. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first ciass mail unless applicable law requires use of anflther method. The norice shall be dir�ted to the Property Address or any other address Borrower designates by norice to L.ender. Any notice to Lender sha11 be given by first class ma.il to Lender's address stated herein or any address Lender designates by norice to Borrower. Any norice provided for in this Seeurity Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 14. Governing Law; Severability. This Security Instrument shall be govemed by Federal law and the law of the jurisdiction in which the Property is located. In the event that any pmvision or clause of this Security InstYUment or the Note conflicts with applicable law, such conflict shall not affe�t other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this S�urity Instrument and the Note are d�lazed to be severable. 15. Borrower's Copy. Borrower sha11 be given one conformed copy of the Note and of this Security Instrument. FHA Deed of Trust-NE 4/96 VMP 0 VMP4R�NE) (1105) Woiters Kluwer Financial Services Page 8 of 10