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<br /> (i)All or part of thc Propcny,or a bencficia! intetest in a tmst owning all or pa�-t of the Propeny,is sold - �{ ....
<br /> ar othenvise transfcrnd(other than by dcvise or descen[),and � °
<br /> (ii)The Property is not occupied by the purchaser or grantee as his or her principal residenee, or the '��'�
<br /> purchaser or grantce does so occupy the Property but his ur her credtt has not been approved in +�"__
<br /> accordance with the requirements of the Secrecary. � ''�•-
<br /> ' (c)No Waiver.If circumstances occur that would permit I.ender to require Immediate payment in full. but ; ..
<br /> Lender does not require such payments, Lender does not waive its rights witb respect to subsequent events. i; ,_�
<br /> � (d) Reguladons of HUD Secretary. In many circumstances regulacioas issued by the Secretary will limit �.. _ �.�
<br /> Lend�.'s righc. ir. the ca: of payment defaults. ro require imcnedeace Fayneent in full and foreclose if not ��:•� ' _
<br /> x, paid.'R�is Security Instrument dces not authoriu acceleration os fos�eclosure if not permitted by regulations
<br /> of the Sccretary. �'.''°
<br /> (e)Mortgage Not Insured.Borrower agrees[hat if Ihis Securiry lnstrument and che Note aze not determined �..
<br /> . to be eligible for insurance undcr the National Housing Act within 60 days from the date hereof, Ixnder - --
<br /> ` may, at its option, require immediate payment in full of all suuu secured by this Securiry Instrument. A �.'-
<br /> ' wrttten siatemcnt of any authorized agent of d�e Secretary dated subsequent tm b0 days from the date hereof, p�
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<br /> declining to insure this Securiry Instrument and the Noce, shall be deemed conclusive proof of such �ti
<br /> ineliglbility. Notwithstanding che foregoing. QII�is option may not be exercised by Lender when the _
<br /> • unavailabiliry of insurance is solely due to LeceeIIer's failure to remit a mortgage insurana pnmium to the
<br />_ _ Secretary.
<br />• 10. Reingtatement. Borrower has u right to be reinstated ii Lcnaer�as required immcdiato payriieni in fu!!
<br /> because of Borrower's failurc to pay an amount due under the Note or this Securiry Instrument. Thls right applles
<br /> ' even after foreclosure proceedings are instituted. To renns[ate the Securlty Instrument, Borrower shall tender in a
<br /> ' ���"��� lump sum all amounts required to bring Barrower's account curront including, to the eztent they are obllgations of
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<br /> '� �' ' Barrower under this Securiry Instrumeat,fer.er.P,�sure costs and reasonable and customary attorneys'fees and expenses
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<br />�,.. . properly associat�d with the foreclosure prc�.r,Ging• Upon reinstacemens by� Borrower,this Secudry Instrument an _
<br /> ��� ' , the obligations that it secures shall remain in effect as if I.cnder had not requlred immediate payment ni full. _�
<br />- ' •;:;:�,;; However. I.ender is not requircd to perrtdt reinstatement if: (i) Lendcr has accepted reinstatement after the
<br />_ � �<<�;�� commenament of foreclosure proceedings within two yeats immediacely prececiing the wmmeacement of a curnnt _
<br />��� , foreclosure proceeding, (ii) reinstatement will preclude foreclosure oa� different grounds in the future, or (iiI)
<br /> ��,- •�� reinstatemeat will adversely affect the priority of the lien created by chis Security Instrument.
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<br />_;:�+b.,5`:_�ti,; 11. Borrower Not Released; Forbearance By Lendcr Not a Nalver. Extension of the time of payment or
<br />-a r- �,`,',>•��`': maliflcation of amortizacion of the sums secured by this Sec�riry Instrument granted by L,ender to any successoa ia
<br />:T:..�.';r,:',�;�`. interest of Borrower shall not operate to release the liabili[y of the ariginal Bonower or Borrower's successor in
<br />- ' � interest. Lender shall not be required to commeace proceedi�gs against any successor in interest or refuse to extend -
<br />;��, time for pnyment or otherwise modify amortization of the aums secured by this Securlry Instrument by reason of any _
<br /> - demand made by the original Bonower or Bonower's successors in intere.at. Any forbearance by Lender in exercising -_
<br />="" � any right or remedy shall not be a waiver of or preclude 2E�e exercise of any right or remedy. �`
<br />-"". ..'.° 12. Successors and Assigms Bound;Joint and Se�•ern1 Liability; Co-Signers. The covenants and agreements -•
<br />;"�%►�.•�� of this Security Instrument shull bind and benefit the successors and assigns of Lender and Borrower,subject to the �;--
<br />_:,h;�t,..,,., �
<br /> - -�+ �°`� provisions of paragraph 9(b). Borrower's covenants and agreements sh�ll be join[and sevcral. My Bonower who �_-
<br />�'���•� co-si ns this Securl Instrument but does not execute the Note: (a)is co-signing this Security Instrument only to --
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<br />_' • •��o.;�) mortgage,gtant and convey that Bonower's interest in the Property under the terms of this Securiry Instrument:(bj
<br /> :, ". Is not personally obligated to pay the sums secuted by tC►is 5ecurity Instrument; and(c)agrees that Lender and any
<br /> � other Borrower may agrce to extend, modify, forbear mr ma,'l•e any accommodations with regard to the terros of this
<br /> � Security Instrument or the Note wi[hout that Borrower's consent. --
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