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201107779 Securlty InstnunenL A written statement of any authorized agent of[he Secretary dated subsequent to 60 days from [he da[e hereof, declining to insnre tliis Securily Instrument and lhe Note, shall be deemed conclusive proof of such ineligibility. Nolwithstanding lhe foregoing, this option may not be exercise� by Lender when tlie unavailabilily of insm�ance is solely due to Lender's failure ro remil a mortgage insurance premium tu the Secretary. 10. Reinstatement. Burrower has a right to be ceinstated if Lender has required immediate payment in fidl because of Borrowcr's failure to pay an amount due �u�der tlie Note ur diis Securiiy Instrument. This right applies even after foreclosure proceedings are i��stituted. To reinstate tlie Security [nstrurnent, Sorrower shall tender in a lump sum all amounts required to bring Borrower's accoun[ curren[ inchidi�g, to �he exfent they are obligations of'Borrower under this Security Instrumenl, foreclosure costs and reasonable and custmnary xltorneys' fees and expenses properly associated with [he foreclusure proceeding. Upon reinstatement by Bon'ower, this Securily Instrument and lhe obilgalia�s fhat it secures shall remain in effec[ as if Lender had not required immediate payment in fu1L However, Lwder Is not required to permit reinstatemenf if: (i) Lender has accepted reinstatement after the commencemenl of foreclosure proceedings within two years immediately preceding the commencement of a current Foreclosure proceeAing, (ii) reinslalement will predude foreclosure on different gmunds in the fatare, ur (1ii) reins�atement will adversely affect 6�e priority of the (ien created by this Security Ins(rumenl. 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of tl�e time of payment or modification of amortization of [he sums secured by this Secu[ity instrument granted by Lender to any successor in interest of Borrower shall nol operale to releasc the liability of the original Borrower or Bo�rower's successor in interesl. Lender shall not be required to commence proceedings against any successor in interest or refuse to exlend tlme for pnyment or of6erwise modify amortiza[ion of the sums seareed by this Securi[y Instrument by reason of any deoiand made 6y the origi�al Borrower or 13orrower's . successors in in[erest. Any for6earanc�e by Lender in exercising any right or rernedy shall noY be a waiver of or preclude the exercise of any right or remedy. 12. Successors and Assigns Bou�d; Joint and Several Liability; Co-Signers. The covenants and agreemen[s o£ this Securify Instrument shall bind and benefit the successors and assigns of Lender and Burrower, subjec[ tu tlie provisions uf paragraph 9(b). Borrower's covenants and agreements sliall 6e joint and severaL Any Borrower who co-slgns this Security 7nsfn�ment 6u[ does not exeaite fhe Nole: (a) is casigning [his Security [nstrumenf only to mortgage, grant and convey that Boaower's interesl in the Property imder the terms of this Security l�strument; (b) is not personally obligated to pay the sums secured by this Security Instrmnent; and (c) agrees that Lender and any other Borrower may agree to extend, moAify, fmbear or make any accommodaflons with regard to the terrns of dtis Security L�shument or [he No�e wilhout thal Borrowcr's consent. 13. Notices. Any notice to Bor'rower pmvided for in this Security Ins[rnment shall be given by deliverin� it or by mailing il by first class mail unless applicable law reqaires use uf anot6er method. The notice shall he directed la the Property Address or any olher address Borxower designates by notice to Lender. Any notice lo Lendcr shall be given by first class mail to Lender's adAress stated herein or any address Lender designates 6y no[ice fo Borrower. Any notice provided for in tiris Se�curity Ins(rumenl shall be deemed to have 6cen given to Borrower or Lender when given as pcovided in this paragrapl�. 14. Goveming L2W; Sever'ability. This Security Ins[rumenf shall be governed by Federal law and [6e law of the jurisdiction in which the Propeiiy is locate�d. In [he evenl tha[ any provision or dause of [his Secnrity � Instrument or the No[e conflicts with applicable law, such conflict shall not affect uther provisions of [his Security Instrument or the Nole wluch can be given effect without khe conflicting pmvislan. To this end the provisions oF Chls Secnrity Instrument and lhe Note ace declared to be severable. _ oot iz2sseosa ciaioanx s.zsn.Da vz FHH Mortgagc WITFI MERS-NE Revis VMV4N�NC)f(1105)?00 VMP�� Wol[crs Hluwer Financial Scrvlces Peye fi of 10