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Any amounts disbursed by Lender under this Paragraph shall become an additionel debt of Borrower and be secured by � this Security Instrument. These amounts shall bear interest from the date of disburseme�t at the Note rete, and at the option of � Lender, shall be immediatey due and payable. ' BoROwer shail promptly discharge any lie� whfch has priorky over this Security Instrument unless BoROwer: (a) ayrses h, writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests In good faith the tlen��'� by, or detends ayainst enforcement of the lien in, legal proceedings whbh h the Lenders opinion operate to prevent the � enforcement of the Ben; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the Ilen to N this Securky Instrument. If Lender detennines that any part ot the Property is subject to a Uen which may attafn priority over this (� Security Instrument, Lender may gNe BoROwer a notice identifyhg the lien. Borrower shall satisfy the lien or take one or more of A the actions set torth above within 10 days of the givhg of notice. Q: 8. Fees. Lender may coilect fees and charges authorized by the Secretary. 9. Grounds for Acceleration ot Debt. (a) Default. Lender may, except as Iimked by regulations issued by the Secretary in the case of payment defauRs, requke immediate payment h full of all sums secured by this Securky Instrument ff: (i) BoROwer defauRs by fafling to pay in full any monthly payment required by thfs Securfty Instrument prbr to or on the due date of the next monthly payment, or : (iq BoROwer defaults by faltlny, for a perbd of thkty days, to pertorm any other oblipatbns contahed in this Security Instrument. (b) Sale Without Credit Approval. Lender sheil, if permitted by appl�able lew (including sectlon 341(d) of the Gam-St Germain Deposkory Instkutions Act o} 1982, 12 U.S.C. 1701 j-3(d)) and wkh the prior approval of the Secretary, requke fmmediate payment in full of all the sums secured by this Securky Instrument M: (i) All or part of the Property, or a beneficiel interest in a trust own�g 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 or grantee as his or her principal residence, or the purchaser or grantee does so occupy the Property, but his or her credft has not been approved in accordance wkh the requirements of the Secretary. (C) NO Waiver. If circumstances occur that would permit Lender to requke immediete payment h full, but Lender does not require such payments, Lender does not watve ks riphts wkh respect to subsequent events. (d) Regulations of HUD Secretary. in many c�cumstances regu�actons Issued by the secrecary wia iimh Lender's rights, in the case of payment defeuRs, to require immediate payment in full and foreclose ff not paid. This Security Instrument does not authorize acceleration or foreclosure if not permkted by regulations of the Secretary. (e) Mortgage Not Insured. Borrower agrees that N this Securky instrument snd the Note are not determined to be eligible tor insurance under the National Housing Act within # Of dBxS �90) from the date hereof, Lender may, at ks option require immediate payment h full of all sums secured by this Security Instrument. A written statement o( any suthoriz�d agent of the Secretary dated subsequent to # of days (90) irom the date hereot, declining to �sure this Securiry Instrument and the Note, shall be deemed concluslve proof of such ineligibility. Notwkhstanding the foregoing, this option may not be exercised by Lender when the unavailabilRy of insurance is solely due to Lender's failure to remit a mortgage insurance premium to the Secretary. : 10. Reinstatement. BoROwer has a right to be reinstated if Lender has required immediate payment in full because of Borrowers failure to pay an amount due under the Note or thts Security Instrument. This right applies even after foreciosure proceedings are instituted. To reinstate the Security Instrument, BoROwer shall tender in a lump sum ell amounts requked 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 attomey's fees and expenses properly associated with the forectosure : proceeding. Upon reinstatement by BoROwer, this Security Instrument and the obligations that k secures shall remafn in effect as 'rf Lender had not required immediate payment in full. However, Lender is not required to permit reinstatement if: (i) Lender has : accepted reinstatement efter the commencement of foreclosure proceedings wkhin two years knmediately preceding the : commencement of a cuRent foreclosure proceeding, (ii) reinstatement wiil preclude toreclosure on different grounds in the future, : or (iii) reinstatement will adversey alfect the priority of the lien created by this Securfty Instrument. 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time of payment or modHication of amortization of the sums secured by this Securfty Instn.iment granted by Lender to any successor in interest o} : Borrower shali not operate to release the IiabiBty of the original Bonower or Borrower's successor in interest Lender shall not be required to commence proceedings against any successor in interest or re(use to extend time for payment or otherwise modi(y amortization of the sums secured by this Security Instrument by reason of any demand made by the orfginai Borrower or : eorrower's successors h interest. Any forbearance by Lender in exercishg any ripht or remedy shall not be a waNer of or preclude the exercise of any right or remedy. ' 12. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenancs and : agreements of this Securky Instrument shall bfnd and benefit the successors and assigns of Lender and Borrower, subject to the provisions ot Paragraph 9(b). Borrower's covenants and agreements shalt be joint and several. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is co-signing th(s Security Instrument only to mortgage, grant and convey that Borrowers interest in the PropeRy under the terms of this Securky Instrument; (b) is not personaily obligated to pay the sums secured by this SecurRy 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 Securky Instrument or the Note wkhout that Borrowers �: consent. 13. Notices. Any notice to Borcower provided for in this Security Instrument shall be given by delivering ft or by mai�ing it : by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lender. My notice to Lender shall be given by first cless maii to Lender's address stated herein or any address Lender designates by notice to Bonower. Any notice provided for in thfs Securfty Instrument shali be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 14. Governing Law; Severabiliry. This Security Inst►ument shall be govemed by Federal law and the law of the jurisdiction in which the Property is located. I� the event that any provision or clause oi this Security Instrument or the Note F5813.LM0 (1/98) Pag• 3 of 5