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<br /> . (i)All ar part of thc Properry,or a bCnc�cinl in[•:rest in a wst owning nll or pan af thc Ptoperty,is sold or "�-
<br /> ,..r�*"�` otherwisr uansferred(othcr thun by dcvisc or desccnt).and �"��
<br />- • �' '"'�' (ii) Thc Property is not occupicd by the purchascr or grantec t� his an c�r Frincipal residcncc, or thc �`.��''�'
<br /> purchascr or grantee docs so occupy ihe Property but his on c�r crcdit has not bccn approvcd in accc�rdancc �';k�
<br /> with the requirements of the Secrctary. ,��,'
<br /> (c) No Waiven If circumstances occur iha[would permit Lendcr to rcquuc immcciiatc paymcnt in fup,but __
<br /> Lcndcr does not require such paymenu.L.cnder does not waive its riEhts with respect to sabscqucnt cvenu. �• �ti'`"
<br /> (d) Reguls�tions ot HUD Secretary. In many cacumstances rcguladons issued by the Secretary will limit
<br /> Lender's rights,in the case of payment defs►ults,to require immediate payment in fuU a�id fareclose ii not pa�d. � �`��.�..--
<br /> "I1iis Security Instrument does not authorize accekration or foreclosurc iF not permitted by regulations of thc
<br /> Secretary. _.
<br /> (e)Mortgage Not�nsured.Borrowcr agrecs that if U�is Security Instrumcnt and the Note are not deterniined to ' ___
<br /> be eiigible for insurance under the National Housing Act within 60 days frnm the date hereof,I.ender may,at
<br /> its option, require immediate payment in full of all sums socured by this Security InstrumenG A wriuen
<br /> statement of any auttwrized agent of the Secretary dated subseque�t to 60 days from the date hercof,declining ;
<br /> to insure this Security Instrument and the Note, shall be deemed conclusive proof of such i�cligibility. ``
<br /> Natwithstancting the foregoing, this option may not be exercised by Lender when the unavailability of
<br /> •• insurance is solely due to Lender's failure to rcmit a mongagc insurance premium to the Secrctary. -
<br /> 10.[teinstatemeat.Borrowcr has a right to be reinstated if Lcnder has rcquircd immediatc payment in full because '"
<br /> of Bo�rower's failure to pay an amount due under the Note or this Sccurity InstrumenG This right applies even after --
<br /> foreclosur�proceedings are instiwted. To reinstate the Security Instniment, Borrower shaU tender in a lump sum aU �'
<br /> emounts required to bring Borrower's account current including, to the extent they are obligadons of Borr�wer under E':
<br /> -- ,—— �his Securiry Ins�ument, forccIosun; w�is a,id re:a�,►iat,ia iu�d cu�tu�i�aiy atia�i�cy� fc�s nrid a+'.p�.�scs pmptx'ly ��
<br /> associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Security Instrument and the `
<br /> ' obGga6ons ihat it secures shall remain in cffect aa if Lcnder had not required immediate payment in full. However. ��-
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<br /> Lender is nat required w permit rcinstatement if: (i) Lender has acceptod rainstatement after tho cammencement of �;
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<br /> :,: � • foreclosure procecdings within two years immediately preceding tha commencement of a cutrent foreclosure
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<br /> •• .• ; proceeding, (a)reinstatement will preclude foreclosure on different grounds in the fuwre,or (iu) reinstatement will
<br /> y�„_,,.,�' ' adversely effect tho priority of the lien created by this Security Inswment. — __
<br /> ; �y T�\ ��t` 11. Borrower Not Rekased; ForbexrAnce By Lender Not a Waiver. Hxtcnsion of the time of paymcnt or
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<br /> � � ,.. .: moditication of amorti�adon of the sums secured by this Security Ins[rument granted by Lender to any successor in
<br />- �y- ''�` ' � interest of Borrower shall not operete to release the tiabllity of the original Horrower or Aorrowu's successor in interes�
<br />�Y�`.�-�_' '�'�'. � Lendu shall not be required to commence proceedings against any successor in interest or refuse to extend time for
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<br />--;-:+�� payment or othcrwise modify amorti�ation of the sums socured by this Sccuriry Insdrument by reason of eny demand
<br /> --"-'.w�.�v' madc by thc original Borrowcr or Borrower's successots in intcrest.Any forbcarance by Lcnder in cxercising any right
<br />_��!`"''�� or remedy shall not be a waivcr of or preclude thc exercisc of any right or cemedy.
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<br />�""'�-�=�°� 1Z.Successors and Assfgns Bound;Joint and Severni Li�bility;CaSigners.'Ihe covenants and agrecments of —
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<br />�:�"�"'1� . this Securiry Instnunent shall bind and beneCt the successors and essigns of Lender and Borrower, subject to d�e �
<br />��,;;.,�,�"• provisions of paragraph 9(b). Borrower's covenants and agrecmenu shall be joint and sevcral. My Borrower who
<br />�••,::='��" co-signs this Securiry Instrument but @oes not execute the Note: (a) is co-signing this Security Instrument only to =�
<br />_��`*'�ti mortgage,grant and wmey ihat Borrowcr's intcrest In thc Property undcr the terms of ihis Seciuity Inswment;(b}is =�
<br />"��'L��`- not personelly obligated to pay the sums sec�ued by this Security Instrumenr and(c) agrees that Lender and any other� "
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<br /> '"' Borrower may agrec to extend,modify,forbe�r or make any accommc�dations with regard to the terms of this Securily `�-
<br />�`='a"��'' Instrument or the Notc without that Borrower's consenG =`"
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