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201107779 significantly affect Lender's rights in [he Yroperty (such as a prnceeding in bankruptcy, for condemnation or to enforce laws or regulatio�s), then Lender may do and pay whatevcr is necessary(o pro[ect thc value of the Property and Lender's rights in the Property, including payment of taxes, hazard insurance and other items , mentioned in paragraph 2. Any amounls disbursed by Lender under this paragraph shall becume an additional debt of Borrower and be secured by this Security InslrumenL These amounts shall bear interest &nm the date of disbursement, at the Note rate, and at the option of Lender, shall be immedialcly due and payable. Borrower shall pmmptly discharge any lien which has priority over this Security Insfrumenl unless Boaower: (a) agrees in writing to the paymen� of the obligation secured by ttie lien in a manner acceptable to Lender; (b) contests in good faith Ihe lien 6y, or defends a�rainst enforcement of lhe lien in, legal pmceedings which in the Lender's opinion operate to prevent the enforcement of the lien; m� (c) secures from the holder of fl�e lien an agreemen[satisfaclory to I.ender su6ordinafing the llen to this Security Instrume�nt. If Lender determines that any part of the Property is subjecl lo a lien which may a[tain priorily over this Security Instnimenl. Lender may give Borrower a nofice iden6fying tl�e tien. Borrower shall satisfy the lien or take one m' more of the actions set forth above withi�� 1D days of lhe giving of nntice. 8. Fees. Lender may collect fees and charges authorized by Ihe Secretuy. 9. Grounds for Acceleration of Debt. (a) Default. Lender may, cxcept as ]lmlted by regulations issued by tl�e Seaelary, in the case of payment defaults, require immediate paymenl in fidl of all sums seci�red by this Secnrity Instrumen[ if: (i) Borrower defaults by failing to pay in full any monthiy payme�nt required by this Security Instrwnent prior ro or on Ihe due date of the nex[ monfhly payment, or (ii) Borrower defaults by failing, for a period oC tliirty days, (o perform any other ohligations confained in lhis Security lnstriunenf. (b) Sale Without Credit Approval. Lender shall, if permi�ted by applicable law (i�cluding Section 341(d) of tlie Garn-St. Ge�main Deposilory Ins[i[ntlons Act of 1982, 12 U.S.C. 1701j-3(d)) and with the prior approval of lhe Secrefary; require irnmediate paymenl in full of all sims secured by lhis � Secudly Instrumenl]f: (i) All or part of the Property, or a beneficial interest in a[rust owning all or part of[lie Property, is � sold or otherwise lransfeired (uther than by devisc or descent), and (ii) The Property is nol oceupied by the purchaser ur grantee as his or her principal residence, or the purc6aser or grantee does so occupy the Property but his ur her credit has not been approved in accordvice with the require�ments of the Secrelary. (c) No Waive�. If circumstances occur thal would permit Lender to reynire immedia�e payment in PoII, but LenAer does not require sucli payments, Lender does mt waive its rights wi[h respect to subsequent evenls. (d) Regul2tioh3 of HUD Sec�etary. In many circumstances regulatious issued by the Secretary will limit Lender's rights, in the case of payment deFaults, to require immediate payment in f�dl and foreclose if not paid. This Security Inst�ument does not authorize acceleration or foreclosure if noY permit�ed 6y regulalions of the Secretary. (e) Mortgage Not Insured. Borrower agrees that if lhis Secnrity lnshvment and lhe No[e are not de�ermined �o be ellgible for insurance under the National Housing Act wiihin 60 days from the date hereof, Lender mav at its option require immediate paymenl in full of all sums s�cured 6y this 001 1 2 2 66 909fl Ci[i�ank 3.Z50.06 V2 FHP Mortgagc W IiH MERS-NF. Revis VMPoN(NCf i tOSf'W VMP g� Wolters Rluwer Flnannal$erv¢ex Page 5 ni l0