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<br /> (i)All or part of thc Property,or a heneficial intcrest in a trust owning all ar part of thc Praperty, is u�ld crr .. • :�.��;=�
<br /> otherwise transferced(other than by devise or descent).and . .. r�_
<br /> � (u) 7hc Property is not occupied by the purchaser or grantcc as his on c�r principal residcncc,ar thc .. .� �,:��-•y —�---
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<br /> purchaser or grantee does so occupy the Property but his or her credit has not been approved in ucwrdunce ,__:_=_:__-
<br /> witt��he reqiurements of the Secretary. ��;�:,%'_=----
<br /> (c) No Waiver. If circumstances accur that wauld perrnit Lcnder to require immediste payment in full,but ��,-�-
<br /> • Lender does not require such payments,Lender does not weive its rights with respect to subscqucnt cvcnGC. ,;;
<br /> (d) Regulatioas oP HUD Secretary. In many circumstances reguledons issued by the Secretery will limit ,;.,�
<br /> L.ender's rights,in the case of payment defaults,to require imrncdiate payment in fuU and forecloso if not paid. k;^:,�.
<br /> � This Security Insirument does not authorize acceleration ar foreclosure if not permiued by reguludons af the ,�
<br /> Secrctary. �..�,
<br /> (e)Mortga�e Not Insured.Borrower agrces that if this Securiry Insvument and thc Note are not dctecmincd tn � „;,.
<br /> �' � be etigible far insurancc undcr the National Housing Act within 60 daYs from the date hcreof,Lcnder may,at ''�,,i•
<br /> its option, require immediate pnyment in full of all sums accured by this Security InstrumenG A written '�''''
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<br /> statemcnt of any authorized agent of the Secretary daced subsequent to 60 days from�he date hereof. declining . �,,_..
<br /> • to insurc this Security Insirument and thc Note, shall be deemed conclusive proof of such incligibility.
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<br /> Notwittis�ending the foregoing, this opuon may not be excrcised by L.endcr when the unnvailability ot' .:�;�o
<br /> insurar►ee is solely due to Lender's failure to remit a mortgage insurance premium to the Secretary. w �3�:,'`
<br /> 10.ReiastatemenG Bonowcr has a right to bc reinstated if L.endcr has requircd immediatc paymcnt in full bcceusc . �.
<br /> � of Borrower's failurc w pay an amount due undcr the Note or tha Sccurity InswmcnG This right applics evcn after �
<br /> foreciosurG pi�a�ii.-,gs arc instituied. To seinstatc th�Srr��rity instrument, Borrower shell tender in a lump sum all ���;
<br /> emounls required to bring Borrower's account current including, m the extent they are obligations of Boaower under �
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<br /> this Security Inswmen� foreclosure wsts and reasonable and customary att�meys' fees and expenses proper y __ __ _
<br /> assnciiated wit� the toreclosure proccedin8. Upon reinstatement by Bonower, this Security Instrument and the _
<br /> �'��'� obligadons that it secures shall remain in effect as if Lender had not required immediate payment in full. However, S
<br /> Lender is not rrquired to permit reinstacement if: (i) Lender has accepted reinstatement after the commencement of _
<br /> foreclosure proccedings within two years immediatcly prcceding the wmmencement of a currcnt forcclosurc
<br /> proceeding,(ti�rcinstetcment will precludc foreclosurc on differcnt grounds in the futurc, or (iii)reinstatemcnt will
<br /> - adversely affect ihe priority of the lien created by ihis Security InsuumenG
<br /> 11. Borrower Not Releasedi Forbearance By Lender Not a Waiver. Extcnsion of thc timc of payment or �
<br /> modification of amorti�ation of the sums secared by this Security Inswment granted by Lender to eny successor in ----
<br /> interest of Borrower shell not operate to release thc liability of the original Bonower or Borrower's successcn in interest. _.
<br /> Lender shaU not be rcquired to commence proccedings egainst any successor in interest or refuse to cxtcnd time for �
<br />. ., � payment or othcnvise modify amortization of the sums securcd by this Security Instrumcnt by reASOn of any demend _
<br /> made by the original Borrower or BoROwer's suceessors in interes�Any forbearance by Lender in exercising any right � _
<br /> or rem e dy shall not be a waiver of ar preclude the exercise af any right or remedy. __
<br /> 12. Succecwrs an�l Assigns Bound;Joint and Several Liabflity;Co•Signers.The wvenants and agrc�ements of � .
<br />'-' this Security Instrument shall bind and benefit the successors and assigns of Lender and Bonower, subject to the �t.=—
<br /> pravisions of paragraph 9(b). Borrower's covenants a�id agreemw►ts shall be joint and severel. Any Borrowcr who !" v
<br /> t� " co-signs this Security Instrument but dces not execute the Note:(a) is co-signing this Security Instrument only to ��--
<br /> � mongage.grant and convey that Borrower's interest in the Properry under thc terms of this Securiry Instrumcnt;(b) is -_
<br />= not personallY obli8ated to Pay the sums sccured by this Securicy Instrument;and(c)agrees ths�t L.endcr and any othcr ����_
<br /> Borrower may agrce w extend,modify,forbcar or make any accommadations with rcgard to the u:rms of this Security '' --
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<br /> Instrument or the Note without that Borrower's consenG -
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