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<br /> (i)All or part of thc Property,or a bcncC�clal intcrest in a wst owning nll ar pan of tho Pro{�rty,is aold or ��_Y
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<br /> othcrwisc transtcrred(othcr than by devisc or dcsccny,and
<br /> ' (ii) Thc PropertY is not occupicd by thc purchascr or grantcc as his on c�r principal residcncc,or t�c ��__
<br /> � purcheser or grantee does so occuPY the Propercy but his or her credit has not heen approved in accordanx ';;{,�;�;�__.
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<br /> with thc rcquiremcnis of thc Scerctnry. 4=��----
<br /> (c)No Waiver. If circumstances occur that would perm�t Lender to requue immediate paymcsnt in full. but ;�^
<br /> Lcnder docs nat rcquire such paymcnts,Lendcr does not waiva its rights with respoct to subsequent cvanw. �V_
<br /> (d) Regulxtions of HUD Secretary. In many circumstances regutations issued by the Sceretary will Umit �
<br /> Lendcr's rights,in�he ca�e of payment defaul�s.to rcquirc immedjate paymcnt in full and foreclosc if not paid. �:`,�_
<br /> ''• insmiment docs not authori�a acceleration or foreclasure if not pe,cmitted by regulations of Iha _-
<br /> • This Securiry - _ -
<br /> �; 5ecretary. , ��°-�-_
<br /> ;I- (e)Mortgage Not Insured.Borrower agrecs that if this Security Instrument end tha Notc urc not dctermined to
<br /> • ba eligible tor insurance under the National Housing Act within 60 days from the date hercof.Lender may,at i ;-:_�,.,.,_
<br /> its option, require immediate payment in full of all sums securod by this Secur,:ty InsuumenG A wsitten ��-•�—
<br /> statemcnt of any authorized agcnt of thc Secretary datccl subsequcnt w 60 daYs from tt�e dato hereof,declining E;__ _
<br /> �- to insnre this Saurity Insuument and tha Note. shall bc deemed conclusive proof of such ineGgibiGry. ��---�--�-
<br /> Notwithstanding ihe foregoing. ihis option may nat be eaercised by Lcnder when the unavailability of _
<br /> � insurance is solely due to Lender's failure eo remit a mocigage inswencc pre+►uun►to the Sec��S'� full becau.9c
<br /> 10.Reinstatement. Borrower has a dght to bc reinstated if i.endcr has recluired unme��P�y �� eveh aftc�'
<br /> of Boaower's tailure to pay an an►ount duo under the Natc or this Sccurity Insuumcn�'Itiis right app
<br /> - - --- fa�2Q���prx�.ectings are instituted.To reinstatcs thu Secwity Instrumant, �ocrower shall tender in a lump surn a13
<br /> --- - -- _ amounts requireci to bring Borrower's account current including�to the exw�ni uiay a�e ablig���of Eec�Qetrr ���er
<br /> , , �his gccnrity Instrument, forcclos�ue costs and reasonabla and customtuy attomeys' fees end expenses propulY
<br />'� , �ociated with the foredosure proceeding• UPon reinstatoment by Borrower, �l►is Secusiry Insuument and the
<br /> � obligadons that it secur�;s shall remain in effect as if 1.ender had not required immediate PaYment in full. However,
<br /> '" " Lendcr is not requircd to Pernu�reinstatament if: (i) Lender has �ccePUd re�nstatement uft,er the commencemenc oi
<br /> ±, foreclosure proceedmss W�thin two years ur►mediatolY Pre�d�g �e canmencement of a cuxrent faeclosure
<br /> . proc.eetling, (u) reinstatcment will preclude foreclosure on diffacent�ounds in the fuWre, or(iii)reinstaLem�nt wiZl �
<br /> � edversely affect the priority of the lien created by this Security Insuument
<br /> il. Bonower Not Released; Forbenrana By I.ender Not Q Wo��e�• ��sion of ihe timme of �y��t�
<br /> moditicarion of amart+zation of che sums secured bY this Secui►�Y Instmmcnt grant,ed by I..ender to anY
<br />"'� interest of Borrower shall not operate to ralease the liabUity of the original Hotrower or Borrower's successor in intaes�
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<br />-i•; - . Lender shall not be required �n commenccs procecdinBs aSainst any successor in interest or nfuse to ea�tend tirne or
<br /> _ payment nr otherwise modify an►a�ri7adon of the sums secured bY this Securlty Insuvment by reason of any demand
<br /> ..��.. .�.:.I`` made by the odgin�l Borrower or Borrower's successors in interes�Any forbearance by Lender in exercising any riglit
<br />'�.V,�.•. _ or rcmedy shall not De a waiver of ot presluda the exerclse of any right or rcmedy.
<br />�`_ lZ.Successoi's and AsslB�s Bounds Joiut and&veral Li�b�ity;Co-Siguers.Th�covenants and e8ra�e��s°j
<br /> �-'`�; this gecurity Instrument shall bind and benefit tha successors and assi8�s of I.ender end Borrower,subjoct w the
<br /> ;,y;j.:' .y4: provisions of paragraPh 9(b).Borrowec's covenants and agreements shall be joint and several.Any BoTrower wino =
<br /> :;;` ; co-signs this Scxurity Instrument but does not execut� tha Note: (a) is co•signing thi� Secu�ity Inswment only ta
<br /> ' , ,,��f m�gag�,grant and convey that Bocrower's interest in the Property undet tho teims of this Sacuriry Instrument;@) is
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<br /> •� ,•,��.��r.�' �o�p�rsonally obligated to pay the sums secur e d by t h i s S e c u r i ry I n s t r u m en t;and(c)a g r e e s that Lender and any ottzer
<br /> - ' �.,,•;,;�� gorrowcr may agrce to cztend,modify,forbcar or meke any aceommodauons with regard t�o�he terms of this Securiry
<br /> -•��;;�"�' Instrument or thc No[e wi�hout that Bocrowcr's consent
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