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<br /> (i)All or part of thc Property,or a beneficlal intRrest in a uust owning all or p�n of tt►a I�ro�erty. is aold
<br /> or otherwise tran�ferred(mher th4n by devise or dcscent), and
<br /> (ii)The Property is aot accuplal by thc panhaser or p,rantec ea his or her princlpel residence, or the
<br /> purchaser or granta das so occupy the Propeny but his or her cralit has not f>een approved in
<br /> accordance with the requirements of tho Secrctary.
<br /> (c)No Waiver. If circumstanas occur that wauid permit Lcnder to require immaliste peyment in full. but
<br /> Lender does not requfre svch payments.I.ender doea not weive ia rights with respxt to subsequcnt events.
<br /> (d) Regul�ttong of H[JD Secrctary. ia many circumatances reguladonb issued by tha Secreeary will limit
<br /> I.eader's rights, in the case of payment defaults,to require immediate payment in full and foreclose if not
<br /> paid.This Security Iastcument does not authorize acceleradon or foreclosure if not permittai by regulations
<br /> af the Secntary.
<br /> (e)Mort;Age Not In;ured.Borrower agrees that if this Securlty Instrument and We Note ara not daerminal
<br /> to be eligible for insurance under the Nadonul Housing Act within 60 days from the date hereof, Lender
<br /> may, at its opdon, requlre immaliate paymcnt in tY�11 of ell sums axural by this Seciu9ty Instiumeat. A
<br /> written statemeat of any authorized agent of the Secntuy dated subsequent to 60 daya from the date hereof.
<br /> doclining eo insure this Security Inauument and the Note, sbell be deemed concluaive proof of such
<br /> ineligibility. Notwithstwding tha foregoing, this option may no[ be eaercisod by L.ender when the
<br /> unavWability of insurance is aolely clue to Lender'e failure to remic a mortgage insurancc prcxuium to the
<br /> Secretary.
<br /> 10.Rda9tatement. Borrower hes a ri�ht to be reinstated if L,ender ha� requind iramediate paynicnt ia full
<br /> 6ecause af Borrower's failure to pay 4a amount duc undcr the Note or this Security Instcument. This righc applies
<br /> even after foroclosurt procadings ace instItuted. To nlnstate the Securicy Inscn�ment. Borrowar s4a11 tender in a
<br /> lumn sum�ll amonnts required to bring Aorrower's�ccount curnnt including, to the extent they are obligations of
<br /> Bormwer uader this Securiry Instiument, forociosure cost��nd reaaonable and custoawy attoraeys'fees and expenaea
<br /> properly asaociated with tt►e foreclosure praceeding. Upon reinstatemeat by Botrower, this Securiry lnstruineat ond
<br /> the obllgations Wat {t securea shdl remain in effect as if L.ender had not requirod immed�ate pryym�nt in full.
<br /> Howe�er. l.ead�r Is not tequired to permit ninetatement iY: (i) I�eadcr h�s accepted niaatatement after the
<br /> co*++�Yment of foreclosure procoediugs within two years immodiately prtr.eding tLe wmmenceitunt of a current
<br /> foreclosure proceeding, (ii) reinatstement will preclude forecloaure on dlfferent grouuda ut tae ftrture. or (iii)
<br /> neinuetement will adverady dfect the pdority of the lien cceued by this Securiry Insuwt�ent,
<br /> . 11. Bonnwer Not RdeRxd; Forbearaace By I.ender Nd s Wdva. Facte�aion of the time of pryaxnt or
<br /> modificuion of anwrtization of the sum�securea by this Secvrity Insuument gr�nted by Lendar to�nny successor in
<br /> inurat of Bc�mawer shall aot operue to rclease the liabiliry of the odginal Bornower or Bomnwcr's auccesaor in
<br /> intec�est. L,wder shatl aot be required to commence proceedings against any succesaor in interest or refuee to�xtend
<br /> - time for paymeat or othenvise modify amortiration of the suaia secured by tl�is Securlry Instrumeat by rea4on of my
<br /> ' dem�ad m�de by tbe origin�l Borrower or Borrower's succawrs in ineerest.My forbeuance by L,ender in exec�ci�ing
<br /> any dght or remady stull not be e w�iver of or pcecludc the exercise of any riaht or remedy.
<br /> 12. Succeaoors aad Ae�iga�Bound;JoEnt�nd Se.e.r�l Lirbility;Co-Si�ners.The covennnte�ad agcnemenu
<br /> of this Sccurlty Inatrµment shall bind aud beuefit the�ucceasors uid�ssigns of Lender�nd Horrowcr,subjoct to the
<br /> proviefoas of puagr�ph 9(b). Borrower's wveaaats and agreemeats ah�ll be joint nnd severai. Any Borrower who
<br /> w-sig»s this Secudry Inswment but does noc exocuta the Note: (a) is co-sigaIng this Savriry [natcument only to
<br /> mortgage. grnnt and convey that Borrower's interest 9n the Property under the term+of tlile Socurity Inatcument;(b)
<br /> is not personally obligetod to pay the sums secured by this Security Insnvment;and(c)�gnes that I�der and any
<br /> other Borrowa may ugree ro extend,modify, ferbear ar make any accommodattons with regard to the terms of t2tis
<br />-. Socurity Insnvment ar the Note without that Bumnwer's coaeeat.
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