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201108149 Security Instrument. A written statement of any authorized agent of the Secretary dated subsequent to 60 days from the date hereof, declining to insure this Security Insirument and the Note, shall be deemed conclusive proof of such ineligibility. Notwithstanding the foregoing, this option may not be 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.Borrower has a right to be reinstated if Lender has required immediate payment in full because of Borrower's failure to pay an amount due under the Note or this Security Instrument. This right applies even after foreclosure proceedings are instituted. To reinstate the Security Instrument, Borrower 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 proceeding. Upon reinstatement by Borrower, this Security Instrument and the obligations that it secures shall remain in effect as if Lender had not required immediate payment in full. However, Lender is not required to permiY reinstatement af: (i) Lender has accepted reinstatement after the commencement of foreclosure proceedings within two years unmediately preceding the commencement of a current foreclosure proceeding, (ii) reinstatement will preclude foreclosure on different grounds in the future, or (iii) reinstatement will adversely affect the priority of the lien created by this Security Instrument. 11. Borrower Not Released; ForbearanceBy LenderNot a Waiver. Extensioa of the time of payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Bonower shall not operate to release the liability of the original Borrower or Borrower's successor in interest. Lender shall not be required to commence proceedin$s against any successor in interest or refuse to extend time for payment or othercvise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercisiaig any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 12. Successorsand AssignsBound;Joint and S�veral L.iability;Co-Signers.The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 9(b). Bonower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrttment only to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other $orrower may agee to extend, modify, forbear or make any accommodations with regard to the terms of this Security Insfirument or the Note without that Borrower's consent. '! 3. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of anothes method. The notice shall be darected to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's adda�ess staYed herein or any address I.ender designates by notice tv Bonower. Any notice provided for in this Security Instrument shall be deemed tv have been given to Bvrrower or Lender when given as provided in this paragraph. 14. GoverningLaw; Severability.This Security Instrument shall be govemed by Federal law and 4he law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect 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 Security Instrument and the Note are declared to be severable. FHA Mor�qage WITH MERS-NE VMP � ii��iii��ii�iiii iiiiii'iiii�iii�i i ii iii ii iiiii iii 9 Revised 4J98 Amendad 7/04 VMP4N(N� (1105).OQ Page 8 of 10 � � �