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<br /> ` j (i)All or part of the Properry,or a beneficial interest in a uust owming all or pan of the Propecty,is sold `r � `'
<br /> -- �� or othcrwise transferted(ather tltan b devise or descent),and . �—
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<br /> ^ :: s (ii)The Property is ctot oa�ied by the purchaser or grantee as his or her principal resideace. or the �i� ` .
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<br />::� ' � ,j purchaser or grantee does so occvpy the Properry but his or her credit has not beeu approved in '� ,
<br /> { accordance arith the requirements of the Sectetaiy. i:; � .
<br /> � � ; i (c)No Waive�. If circumstances ocxur that would perimit Lexcder to require immediate payment in fiill,but � - . ,_
<br /> T�� , . .� I.ender does noi require sach payments,Lender daes not waive us rights with�ect to subseguent events. ' �.`�;,��``"-
<br /> ;: ons issued b the Secte will limit �� • _ .
<br />- , • � (� LZeguiations of HUD Se�etary. In many circumstannes r�Sulati Y �Y F
<br />_�}_ Lender's rights.in the case of payment defauits.to cequire i�ediate payment in full and foiectose if not i. • ._ -
<br /> , • paid.This Security Ins�tnimeat does not autharis acceteruica.er forectosure if not permitted by regWations 4� � '_
<br /> `�; � of the 5ecretary. , -=� ,`
<br /> i; (e)Mortgage Not Lasured Borrower agrees timi.if this Securiry Insuumera and the Note are not determinod � �•r_'�`�r,' �
<br /> , � to be eligi'ble for iasurance under the National diousing Act within 60 days from the date hereof, Lender • ,
<br /> ,` ` may,at iu option, recluiie immediate Payment in fuU of aU sums serured by this S� Instmment. A
<br /> �� ' , written statement of any authorized agem of the Secretary datec�sabsequent to 60 days fn�ttce date hereof, •
<br /> :� declining to ins�ue this Security Iasuument aad the Note, shall be deeazed cunc2�cice pmof of such ;�:;�-.vtr1�`-:�� --;
<br /> `` ' ' ineli ili Notwithstandin the fo tits o tion ma not be �ised b Leader when the �r:::?'r�' _:.. .
<br /> , gib' ry• S ��. P Y Y .::;t�;:'� •',' .
<br /> �i: unavailability of;++�,*�nce is svIeIy due to LEUri`r's failure to remic a rua�e insur�u:e premium to the .,_.��zi!1,.: ::.:
<br /> � • 10. Retz��emerrt. Borrower bas ��iu to�e�instated if Lender has required imme��.e payment in fall . �s`�;��`��+L;
<br />___ . .. bec�ue of Borfowei s failure to pay an a::.c�:at�ue uad�the Note or this Seaaity Instrament.This right appiies }����,ir.�-
<br /> . . ` . even after foreclosure cn are instituted. To rei�state the Security Insavmen[, Bomnwer shaU teader in a ���` ?.7'r�;``� .
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<br /> � . ' ' . ° Iamp sum aU aznnunu aequired so bring Borrower's�unt cument ineluding. co the extent they are obligations of ��E�rr-�=•
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<br /> . Borrower auder this Security Instn+men�foreclosurc costs and reasonable and c�tomary auomeys'fees and expeases - ,..,� ,• , ,`;�
<br /> �=`t-�`-.- psnperly associa�°d with the foreelosure pcoceeding. Upon re+nc��°nt by Borrower. this Secvrity Insaument�d ..: . .
<br /> . ' � . tik obLg�rn� iLat it secures shall remaia in effece as if I.eader E*� not required immediate paymeat in full. �', • :;�` �� � ;
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<br /> Iiawcrwer, �r:�.er is not required to permit reinst�� i� ril �-nder 6�s scept�d reinstatement after the :, •.r�rs.l�, �
<br /> •� ; , ccmr�ar�of foreclosure proceediugs within twa ge��ac�;i::...�iy preoed�g ths commencemPnt of a cuaent .: "' :,��-
<br /> .-'i � . � forecto�sre pmsr.eding, (ii? reinstatement will preclv3e G.�as� on differe� grounds in the future, or (iii) . '.�.?
<br /> <'i;:; . . _ reinstatea�:�r1I:adversely affect the priority of the liea created Cy tf�i.s Seturiry Iasttumeat. :'. ',
<br />":' + 11. lBcu�a�:wer Not Reteased; Forbearaace By Lender Not� �Vaiver.Eatension of th�time of payment or ' ����•
<br /> . . .:';:;� � maw'.fication of amoni7adoa of the sums secured by this Security Insmunent granted by Lender to any suooessor in ;. ,:¢.-��r_.
<br /> � i.urr�st of Barrower shall not opemte [o release the liability of the original Borrower or Boimwer's successor ia ;:,
<br /> ``�' • . imerese.Leader shal!not be required to commence proceedings agaiast any successor in incerest or refuse to extend � �=�':'"-:•
<br /> ''� • - time for pay��at or otherwise modify amortization of the sums serured by this Securiry Tnsuument by rason of any .. , :_=,�,
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<br /> demaad made by the original Borcower or Bonower's successo:s in interest.Any forbearance by Leader in exercising �
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<br /> ;� ,.:�s.,_ any tight or remedy shall not be a waiver of or preclude the eaencise of any rig6t or teatedy.
<br /> '�� ' 12.Suocessois and Asslgos Bound;dolnt aad Several Liability;Co-Slgaeis.'fhe wven�u and agreemenu `�`°`�`•�
<br /> �j • of this Security lastrument shall bind and benefit the successors and assigns of Lender and Boirower, subject to the ' . �
<br />-'' ` provisions of paragraph 9(b). Borrower's wvenants and agreements shall be joint aad several. Any Horrower who • •� ��-
<br /> f��• co-signs this Security Instniment but daes aot eaecute the Note: (a)is co-signing this Security Jnsuument only to
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<br /> ' ' .. ; mortgage,grant and convey that Boaowet's interest in the Property under the term9 of this Secvriry Instrument;(b) : •
<br /> , � is not peisonally obligated to pay the sutns secured trH n.'�is Security lastrument: and(c)agees that Lender and any .
<br /> . - � othes Borrawer may agree to extend,modify.forbe�w�make any aocammodations witb regard to ihe terms of this � .. • .
<br /> - � Se�urity lnsuument or the Note wiehout tI�Borrower's wnsent. , _�
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