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201107212 Any amounts disbursed by Lender under this paragraph shall become an additional debt of Borrower and be secured by this Security Instrument. These amounts shall bear interest from die date of disbursement, at the Note rate, and at the option of Lender; shall be immediately due and payable. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of die Property is subject to a lien which may attain priority over this Security nnstrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. Fees. Lender may collect fees and charges authorized by the Secretary. Grounds for Acceleration of Debt, (a) Default. Lender may, except as limited by regulations issued by the Secretary, in the case of payment defaults, require immediate payment in full of all suns secured by this Security Instrument if: (i) Borrower defaults by failing to pay in full any monthly payment required by this Security Instrument prior to or on the due data of the nr:xt monthly payment, or (ii) Borrower defaults by failing, for a period nf'tllirty days, to perform any other obligations contained in this Security Instrument. (b) Sale Without Credit Approval. Lender shall, ifpermitted by applicable law (including Section 341(d) of the Garn -St- Germain D:pository Tnstitntions Act of 1982, 12 I1,S,C. 17O1•j -3(d)) and with the prior approval of the Secretary, ruquim immediate payment in full of alt sums secured by this Security Insp-lmpnt if, (i) All or part of the Property, or a beneficial inlcrest in a trust owning all or part of the Property, is sold or nthorwkQ transferred (other than by dcvisc or desocnt), and (ii) The Property is not occupied by the puchascr or grantco as his or her principal residence, or the purchaser or }grantw docx w occupy The Property but his or her coedit. 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 full, 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 the Secretary will limit Lender' s rights, in the case of payment default, to require immediate payment in Rill 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 chat if this Security Instrument and the Note are not determined to be eligible for insurance under the National Housing Act within 60 days from the date hereof, Lender may, at its option, require immediate payment in lull of all sums secured by this Security Instrument. A [witten statement of any authorized agent of the Secretary dated subsequent to 60 days from die date hereof, declining to insure this Security Instrument and the Note, shall be deemed conclusive proof of such ineligibility. Notwithstanding the foregoing, this option may not be FHA Daetl of Trust -NE 0451100003 VMP 0 4190 W.1bra Kluwer Fin anslal Servlces VMP4R(NE) (1105) Page 5 a( 10