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. � 98- sc�z�s9 Any amounts disbursed by Lender under this Paragraph shall become an addiNonal debt of Borrower and be secured by �this Security Instrument. These amounts shall bear interest from the date of disbursement at the Note rate, and et the optfon of Lender, shall be immediately due and peyable. Borrower shail promptly discharge any lien which has priorky over this Security Instrument unless Borrower: (a) egrees in writing to the payment of the obiigation secured by the lien in a manner acceptable to Lender; (b) contests k� good faRh 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 trom the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines thet any part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a notice idenCrfying the lien. Borrower shall satisfy the lien or take one or more of the actlons set forth above wkhin 10 days of the gNing of notfce. 8. Fees. Lender may collect fees and charges authorized by the Secretary. 9. Grounds for Acceleration of Debt. (a) Default. Lender may, except as Hmked by regulations issued by the Secretary in the case of payment detaults, require immediate payment in (ull of all sums secured by this Security Instrument if: (i) Borrower defauRs by failing to pay in iull any monthly payment required by this Security Instrument prior to or on the due date o( the next monthly payment, or (ii) Borrower defauRs by failing, for a period of thirty days, to perform any other obligations contained in this Securky Instrument. (b) Sale Without Credit Approval. Lender shall, if permitted by app8cable taw (including section 341(d) of the Gam-St Germain Depository Institutlons Act of 1982, 12 U.S.C. 1701J-3(d)) and wkh the prlor approval of the Secretary, require immediate payment in full of all the sums secured by this Securky Instrument it: (i) All or part of the Property, or a beneficial interest in a trust owning all or part o( 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 es 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 with the requirements of the Secretary. (C) NO Waiver. If circumstances occur that would permit 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) REgulati0ns of HUD Secretary. In many circumstances regulations fssued by the Secretary will limk 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 regulatfons of the Secretary. (e) Mortgage Not Insured. Borrower agrees that H this Security Instrument and the Note are not determined to be eligible for insurance under the National Housing Act within # of days (90) from the date hereof, Lender may, at its option require immediate payment in full of all sums secured by this Securky Instrument. A written statement of any suthorized agent of the Secretary dated subsequent to # of days (90) f�om the date hereof, declining to insure this Security Instrument and the Note, shall be deemed conclusive proof of such fneligibility. 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 ff 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 aker foreclosure proceedings are instituted. To reinstate the Security Instrument, Borrower shali 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 attomey's fees and expenses properly associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Securky Instrument and the obligallons that k secures shall remain in effect as 'rf Lender had not required immediate payment in (ull. However, Lender is not required to permit reinstatement if: (i) Lender has accepted reinstatement after the commencement of foreclosure proceedings within two years immediately preceding the commencement of a cuRent foreclosure proceeding, (ii) reinstatement will preclude foreclosure on different grounds in the future, or (iii) reinstatement wfll adversely affect the priority o} the lien created by this Security Instrument. 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension 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 ot Borrower shall not operate to release the liability of the original Borrower or Borrower's successor (n interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to eutend time for payment or otherwise modify amortization of the �ums secured by this Securky Instrument by reason of any demand made by the original Bonower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a 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 o( 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 Instrument only to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Instrumenh (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, modiry, forbear or make any accommodations with regard to the term of this Security Instrument or the Note without that Borrower's consent. 13. 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 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 given by first class mail to Lender's address stated herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shail be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 14. Governing Law; Severability. Thfs Security Instrument shall be govemed by Federal law and the 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 F5813.LM0(1/B8) Pags 3 of 5