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<br /> •-� •"'�" (i)AU or part of thc Property,or a bencficial intcrest in a trust owning all or part of thc Property.is sold or �•.;.Y,;�yT,�,�_�
<br /> otherwisc transferred(other than by devise or dcscent),and ��-`'�'j�''•'=-""�
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<br /> (li) The Pmperty is not occupied by the purchaser or grantee as his or her principal residence, or the �.���+`�_•=-. _ _
<br /> purchaser or grantee does so occupy the PropercY but his or her credit has not been approved in acc;ordance :�--�
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<br /> . with the requirements of the Secretary. —�"'_
<br /> ' (c) No Waiver. If circumstances occur that would permit Lender to require immediate payment in full,but �:-
<br /> , Lendcr does not requlre such payments,L.ender docs not waive iu rights with respect w subsequent evcnts. �;,---
<br /> �. (d) Requlatbas of HUD Secretary. In many circumstances reguladons issued by the Sccretary will limit --
<br /> 1 Lender's rights,in the case of payment defaults,to require immediate payment in fuU and foreclose if not paid.
<br /> 'll�is Securiry Instrument does not authoriza acceleradon or foreclosure if not permiltul by regulations of the �-
<br /> "� Secretary. �
<br /> (c)MortgAge Not Ynsured.Borrowcr agrees that if this Security Instrument and the Notc arc not detcrmined to _ __
<br /> „�,ti bc ellgible for insurance undcr the Nauonal Housing Act within 60 days from thc date hcrcof,Lcnder may,at —
<br /> � its option, rcq�uire immediate payment in full of aU sums secured by this Securiry InstrumenG A written —
<br /> stanement of any authorized agent of the Secretary dated subsequent to 60 days fmm the date hereof,declining
<br /> • to insnre this Security Instrument and the Note, shall t�e deemed conclusive proof af such ineligibility. =_
<br /> �� t Notwithstanding the foregoing, this opdon may not be cxercised by Lender when the unavailability of _
<br /> insurance Ls solely due to Lender's failure to rerriit a moctgage insurance premium to the Secretary.
<br /> 10.Reinstatement.Horrower has a right to be reinstated if I.ender has required immediatc payment in full because
<br /> of Honower's failure to pay an amonnt due under the Note or this Scauity Instrument This right applics even after _—
<br /> --- -_-- - foreclosure proceedings are insdtuud.To reinstate the Security Inswmcni. Bonuwc� shall i�nder in a lump�utn al! _
<br /> amounts required w hring Sorrower's accoanc current including,to ihe extent they are obligadons of Borrower under
<br />- �;:',' this Security Instrument, foreclosure wsts and reasonable and cusLOmary attorneys' fees and expenses properly
<br />"`',;��� • associated with the foreclosure proceeciing. Upon reinstatement by Borrower, this Security Instrument and the
<br /> ���`° ''� �•'" obllgadons that It secures shall remain in effect as if 1-ender hed not required immediate payment tn full. However,
<br />-°• Lender is not required to pennit reinstatement if: (i) Lender has accepted reinstatement after thn commencement of y
<br />=��� �• forxlostue proceodings within two years immediately prcading the commencement of a current foreclosure
<br />- . • procoeding, (ii) ninstatement will precluda foreclosure on different grounds in the fupue.or (iiI) reinstatement will
<br /> �" �' • advusely affect the priority of the lien created by this Security Instrumen� �'�`'
<br /> 11. Borrower Not Itekased; Forbearana By Leeder Not w Waiver.Extension of the time of payment or
<br />- � '•r��: moditicadon of amortizaation of the sums secumd by this Scxuriey Instcument granted by Lender w any successor in
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<br />���,�,,,�:k p intemst of Borrowu shall not opecate to release the liability of the original Bonower or Sorrower s successor in intaesG
<br /> :�•:�•' I,ender shall not be required to commence procoedinBs a8ainst any successor in interest or refuse to extend time for
<br /> `""*'"•�`"• payment or otherwise modify amorti7ation of the sums secured by this Sectuiry Instruument by mason of any demand
<br />�"*`�����'� made by the original Borrower or Borrower's successors in interese.Any forbearance by Lender in exercising any right
<br />_*'� • - or remedy shall not be a waiver of or pceclude the exeacLse of any right or remedy.
<br /> .;,_ -, ;;" 12.Successors and Asstgns Boundi Joint and SeverAl Lt�bility;Co•Signers.The covonants and agreements of
<br />�',�;;�;r this Security Instrument shall bind and bene�t the successors and assigns of l,ender end Borrower, subject to the ---
<br />:'�.•:_:�F'.s.n provisions of paragraph 9(b). Borrower's covenants and agrcements shall bc joint and sevcral. A�ty Bonower who
<br />—'"�,�y;;;;E co-signs this Security Instrument but does not execute ihe Note: (a) is co-signing this Sc�urity Instnunent only to
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<br /> -_-.�,�,.. mongage,grant and wnvey that Borrower's interest in the Property under thc terms af this Security Instrument;(b)is
<br />-��•°•°:f��• ' not pe.rsonally obligaced to pay the sums secured by this Securlry Instrument;und (c)agrees that Lender and any other
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<br />-_-�:;-R�;;=;.: Bo�rower may agree to extend,malify,forbear or make any accommodations with regard to the terms of this ecunty _.
<br /> • Instrumcnt or the Note without that Borrower's consen� !`=_.
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