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<br /> • -°' (i)All or part of the Propeny. or a beneficial interest in a trust owning all or part of the Property. is sold ' , . '
<br /> "� ar otherwise transferred(ather than by dcvise or descent),and , . . ,':;_;
<br /> (il) The Property is not occupied by the purchaser or grantee as his ar her principal residence. or the • � ,•._�i ���
<br /> purchaser or grantcc does so occupy the Propeny but his or her crcdit has not been approved in ��, �;.�;;�,��ry;:�
<br /> accordance with the requiremen[s of the Secretary. '" "'"r�'
<br /> (c)No WAiver. If circumstances occur that would permit l.ender to require imm�diate payment ia full,but � �''����i��'—
<br /> Lender does not rcquire such payments,[.ender does aot waive its rights with respect to subscquent events. ' ,;.r�:
<br /> • (d) Regulations of HUD Secretxry. Ia many circumstances regulations issued by che 5ecretary will limit ��,:,��;�`
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<br /> Lender's dghts, in the case of payment defaults,to require immediate payment in full and foreclose if not __
<br /> paid.This Securlty Instrument does not authoriu acceleration or foreclosute if not permitted by ngulatioas -:.��
<br /> of the Secntary. � -��"
<br /> (e)Mortgag�Not Insured. Borrower agras that if this Security Insuument and We Note are not detetmined ,��
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<br /> to be eligible for inaurance under the National Housing Act within 60 days from the date hereof, I.rnder r,,,.«,
<br /> may, at its option, nquire immediate payment in full of all sums secured by this Securlty Instrument. A :r�__
<br /> � written statement of any authodud agent of the S�cretary dated subsequent ro 60 days from che date hereof, ' �.'r�:�,,--=
<br /> declining to insure this Security Inauumeat and the Note, shall be dxmed conclusive proof of such ��u;:
<br /> • iueligiblliry. Notwithstanding the foregoing, this option niay not be exercised by L.ender when the "':,.,•
<br /> unavailability of insurance is solely due to Lender's failure to remit a mortgage insurance premium to the ' :j;�;,�
<br /> Secntary. •, �'i.
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<br /> ;p � 10. Retastatement. Borrower hes a right to be reinstated if I.ender has required immediate payment in full _
<br /> T, because of Borrower's failure to pay an amount due under the Note or this Securiry Instiument. 7'his right applics ��_ _
<br /> �` eved after foreclosure proceedings an inscicuced. To rcia�iata t�e �curiry Ir.�irumeni, �:zo:tier sh.a!! t���!'r�^ � -----
<br /> lump sum all amounts required to bring Borrower's account current including, to the eatent they are obligations of --
<br /> �: Borrower under this Securiry Instnunent, foreclosure costs and reasonable aad customary attorn�ys'fees and expenses '—
<br /> properly associated with the forxlosure proceeding. Upon reinstatement by Borrower,this Secudty Insuvment and ���--
<br />-: �� the obligadons that it gecures shall nmain in effect as if Lender had not required immediate paycnent in full. _ _ �
<br /> � However, Ltnder is not required to pemut ninstatement if: (i) Lender has accepted ninstatement after the —
<br /> rnmmencement of foreclosure proceedinRs within two years immediately preceding the commencement of a current _
<br /> foreclosure proceeding, (ii) reinstatement will preclude foreclosure on differenc g�nunds in the fucuie. or �iii) ��. _
<br /> ; ninstatement will adversely affect the pdority of the lien creat�d by this Security Instrument.
<br /> 11. Borrower Not Released; Forbwrance By Lender Not a Waiver. Exteasion of ttte tinne of payment or
<br /> modification of amortization of the sums sectu�ed by this Securiry Instrnmeut gran[ed by Lender to uny successor in
<br /> interest of Borrower shell not operate co release the liability of the original Borrower or Borcower's successor 1n =_
<br /> interest. I.ender shall not be requlred ro commence proceedings against any successor in interest or nfuse to eatend
<br /> tlme for payment or otherwise modify amortization of the sun�s secural by this Security Instrument by reason of any
<br /> demand made by the origtnal Borrower or Borrower's successors in int�rest.Any forbearance by Lender in oaercising
<br /> � any right or remedy shall not be a waiver of or pnclude the exercise of any right or remedy. __.
<br /> 12. Successot's and As41gn9 Hound;Joint And Several Liability;Co,Signers. Ttie covenants and agrrements �;_
<br /> - • of this Securlry Instrument shall bind and benefit the successors and assigns of Lender aad Borrower,subjoct to the �
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<br /> � , provisions of paragraph 9(b). Boaower's covenants and agraments shall be joint and several. Any Bomower who :ti-
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<br /> - co-signs this Security Instrument but does not execute the Note: (a) is co-signing chis Security Insttument only to s.
<br /> . mortgage.grant and convey that Borrower's interest in the Property under the terms of this Socurity Instrument; (b)
<br /> ' is not personally obligated to pay the sum4 securod by this Security Iasuument; and(c)agtas that Lender and any �_r��"� --
<br /> other Borrower may agree to eatend,modify, forbear or make any accommodetions with regard to the terms of this •t
<br /> Securiry Insuument or the Note without that Borrower's consent. "k ��
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