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201108149 signif"icantly affect Lender°s rights in the Property(such as a proceeding in bankruptcy, for condemnation or to enforce laws or regulations), then Lender may do and pay whatever is necessary to protect the 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 amounts disbursed by Lender under this paragraph shall become an additional debt of Borrower and be secured by this Security Lnstrument. These amounts shall bear interest from the 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 Bonower: (a) agees 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 satisfzctory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over this 5ecurity Instiwnent, 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. 8. Fees. Lender may collect fees and charges authorized by the Secretary. 9. 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 sums 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 date of the next monthly payment, or (ii) Bonower defaults by failing, for a period of thirty days, to perform any other obligations contained in this Security Instrument. (b} Sale Without Credit Approval. Lender shall, if permitted by applicable law (including Section 341(d) of the Gam-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 fiill of all sums secured by this Security Inshvment if: (i) All or part of the Property, or a beneficial interest in a hust owning all or part of the Property, is sold or otherwise transferred (other than by devise or descent), and (ii) The Property is not occupied by the purchaser os grantee as his or her principal residence, or the purchaser or grantee does so occupy the Property but his or her credit has not been approved in accordance with the requirements af the Secretary. (c) No Waivero If circumstances occur that would permit I,ender to require icnmediate paymenY in ffull, but Lender does not require such payments, Lender does not waive its rights with respect to subsequent events. (d) Itegulationsof HUD S�cretary.In �any ciacumstances regulations issued by the Secretary ewill Idmit Lender's rights, in the case of payment defaults, $o requue im�ediate payment in full 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 InsuPed.Borrower agrees that if this �ecurity 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 full of all sums secured bv this FHA Mortgage WI'fH MERS-NE VMP � ii��iiiiiiiiiiiiiiiiiii iiiiii�i�a s ii i iiii iiiii iii 9 Revised 4l98 Amended 7J04 VMP4N(N� (110b).OQ Page 5 of 10 � �