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201108$33 significandy affect Lender's rights in We Property (such as a proceeding in bankruptcy, for condemnation or to enforce laws or regulatlons), 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 Securlty Instrument. These amounts shall bear interest from the date of disbursement, at the Note nte, and at We option of Lender, shall be immediately due and payable. Borrower shall prompfly discharge any lien which has priority over this Security Inshvment unless Borrower: (a) agrees in writing to the payment of the obligaflon secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of We lien in, legal proceedings which in the Lender's op9nion operate to prevent the enforcement of the lien; or (c) secures from the holder of the Hen an agreement satisfactory 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 priorlty over this Security Instivment, Lender may give Borrower a noflce identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above with3n 10 days of the giving of noHce. 8. Fees. Lender may collect fees and charges authorized by We Secretary. 9. Grounds for Acceleration of Debt. (a) Default. Lender may, except as limited by regulaflons issued by the Secretary, in the case of payment defaults, require immediate payment in fiill of all sums secured by this Security Instrument if: (i) Borrower defaults by failing to pay in fiill any monthly payment required by this Security Inshvment prior to or on the due date of the next montWy payment, or (u) Borrower defaults by failing, for a perlod of thirty days, to perform any other obligaflons contained in this Security Instrument. (b) Sale Without Credit Approval. Lender shall, if permitted by applicable law (including Section 341(d) of the Garn-St. Germain Depository Insfltutions Act of 1982, 12 U.S.C. 1701j-3(d)) and wiW the prior approval of We Secretary, require immediate payment in full of all sums secnred by this Security Instrument if: (i) All or part of the Property, or a beneficial interest in a trust owning all or part of the Property, is sold or oWerwise transferred (other than by devise or descent), and (ii) The Property is not occupied by the purchaser or grantee as his or her pr9ncipal 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 of the Secretary. (c) No Waiver. ff circumstances occur that would permit Lender to require 9mmediate 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 regulaflons issued by We Secretary will limit Lender's rights, in the case of payment defaults, to require immediate 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 Insured. Borrower agrees that if this Security Instrument and the Note are not determined to be eligible for insurance under the Naflonal Housing Act within 60 days from the date hereof Lender may, at its opflon require immediate payment in full of all sums secured by this 1004NNE W0687799958 71/21/2077 07:OSam FHA Mnrtgaga WITH MERSNE Ravised 4/86 Amended 7/04 VMP @ VMP4N(N� (1105).00 Wolters IC�uwer Finencial Services Pege 5 of 10