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;•Any amounts disbursed by Lender under this Paragraph shaii become an addkionai debt of BoROwer and be secured by . this Securky Instrument. These amounts shall bear hterest from the date of disbursement at the Note rate, and at the option of Lender, shall be knmediatey due and payable. Borrower shall prompty discharge any lien wh�h has priority over this Securky Instrument unless Borcower: (a) agrees in � writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the Ilen� by, or defends against enforcement of the lien in, Iegal proceedings wh�h h the Lenders opinion operate to prevent the � enforcement of the Ilen; or (c) secures (rom the holder ot the lien an agreement satisfactory to Lender subordlnating the lien to � this Security Instrument. If Lender determines that any part of the Property is subject to a Ifen which may attain priority over this ,� Securky I�strument, Lender may give Borrower e notice identifyhg the Ilen. Borrower shall satis(y the lien or take one or more oi � the actions set forth above wkhin 10 days of the giving of notice. � S. Fees. Lender may collect fees and charges authorized by the Secretary. � 9. Grounds for Acceleration of Debt. (8) DefBUI� Lender may, except as limked by regulations issued by the Secretary in the case of payment defauRs, require immediate payment in tull of all sums secured by this Security Instrument if: (i) Borrower defaults by failing to pey h full any monthly payment requked by this SecurRy Instrument prbr to or on the due date of the next monthly payment, or (ii) Borrower defauRs by fail�g, for a period of thirty days, to perform any other oblipations contained in this Security Instrument. (b) Sale Without Credit Approval. Lender shall, ff pertnftted by applicable law (including section 341(d) of the GamSt Germain Depository Institutfons Act o} 1982, 12 U.S.C. 1701J-3(d)) and with the prior approval of the Secretary, requte immediate payment in full of all the sums secured by this Security Instrument ff: (i) All or part oi the Property, or a beneficial interest in a trust own�g all or part of the Property, is soid or othervvise transferred (other than by devise or descent), and (ii) The Property is not occupied by the purchaser or 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 wkh the requirements of the Secretary. (C) NO Waiver. I/ circumstances occur that would permft Lender to require immediate payment in full, but Lender does not require such payments, Lender does not waive its rights wkh respect to subsequent events. (d) Regulatlons of HUD Secretary. In many circumstances regulations issued by the Secretary will limk Lender's rights, in the case of payment defaufts, to require knmediate payment In full and foreclose if not paid. Thls Securfty Instrument does not authorize acceleration o� forec�osure N not permkted by reguletio�s of the Secretary. (e) Mortgage Not Insured. Borrower agrees that ff this Security Instrument and the Note are not determined to be eligbie for insurance under the National Housing Act within # Of dByS (90) f�om the date hereof, Lender may, at its option requrce immediate payment in full of all sums secured by this Security Instrument. A written statement of any authorized agent of the Secretary dated subsequent to # Of dey8 (90) (rom the date hereof, declining to insure this Security Instrument and the Note, shall be deemed conclusive prooi of such ineligibilfty. Notwithstanding the foregoing, this option may not be exerctsed by Lender when the unavailability of insurance is solely due to Lenders failure to remit a mortgage insurance premium to the Secretary. 10. Reinstatement. Borrower has a right to be reinstated ff Lender has required immediate payment in full because of Bonower's failure to pay an amount due under the Note or this Security Instrument. This right applies even aRer foreclosure proceedings are instituted. To rek�state the Security Instrument, Borrower shall tender in a lump sum all amounts required to bring Borrower's account cuRent including, to the extent they are obligations of Borrower under this Security Instrument, toreclosure costs and reasonable and customary attomey's fees and expenses properly associated wkh the forectosure proceeding. Upon reinstatement by Borrower, thts Securky 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 permit refnstatement if: (i) Lender has accepted reinstatement after the commencement of foreclosure proceedings wkhin two years immediately 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; Forbearance By Lender Not a Waiver. Extension of the time of payment or modffication of amortizatton of the sums secured by this Security Instrument granted by Lender to any successor tn hterest ot Borrower shall not operate to release the liabiiky of the original Borrower or Borrowers successor in interest. Lender shall not be required to commence proceedings against any successor in Interest or re�use to e�ctend tkne (or payment or otherwise modify amortization oi the sums secured by this Security Instrument by reason of any demand made by the origfnal Bonower or Borrower's successors in interest. My forbearance by Lender in exercising any right or remedy shall not be e waiver of or preclude the exercise of any right or remedy. • 12. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of this Securky Instrument shall bind and benefit the successors and asslgns of Lender and Borrower, subject to the provisions of Paragraph 9(b). Borrower's covenants and agreements shall be jofnt and several. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property under the teRns 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 Borrower may agree to extend, modify, forbear or make any accommodations with regard to the term of this Security Instrument or the Note wfthout that Borrower's consent. 13. Notices. Any notice to Borrower provided for in this Security instrument shall be given by deiivering it or by mailing it by (irst class mail unless applicable Iaw requires use of another method. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be gtven by first cless mail to Lender's address stated herein or any address Lender designates by notbe to Borrower. My notice provtded for fn thfs Securtty Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 14. Governing Law; Severability. This Security Instrument shall be govemed by Federal law and the law of the jurisdiction � which the Property is bcated. In the event that any provisbn or clause of this Security Instrument or the Note F5813.LMO(1/98) Paps 3 of 5 803