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<br />' (i)All or part of the Propen}r,or a beneficlal interest ia a tnist owning all or part of the Property. is aold
<br /> or othenvise uansfernd(other then by devise or descent). and
<br /> (ii)The Property is not occupial by the purchaser or grantee a�Dis or her principal resideaa, or the
<br /> purchaser or graatee doa so occupy the Property but his or her credit hu not been approvcd in =
<br /> accordance wlth the requtnmeats of the Secretary.
<br /> (c) No Wdver.If citcum�tances occur thu would pemiit Lender to require immodiue pryment in full,but
<br /> Leader doa not require such payments.Lender does not waive its righta wltd respect to subseqaent ovenu_
<br />� (d) Rc�uladoaq ot HUD S¢crehry. Ia many circumstwces ngulatIons iasued hy the Secretuy will Iimit
<br /> Lcader'a rIghta,in the case of paya�ent defaulta.to require immediue paymcnt ia fuU and forxlose if not
<br /> paid.This Securlty Insuumeat does not autb.oriu acceleradon or foreclosure if not pern�itted by ngulutons
<br /> of the Socreta.y. -
<br /> (e)Mort�a�e 1�Tot Iasured.Bozrower agrees that if thi+Securlry Inswment and the Note are not determiaed
<br /> to ba eligible for inrirance under[he Nadonal Housing Act withia 60 daye from t�e due hereof, Leader
<br /> may. at its option, requin inunediate payment in fuU of all aum4 secured by thLs Secluiry Insmiment. A
<br /> wrltten statement of Anp a�•thorized agent of the Secretary dated subsequent to 60 daya from the date heroof,
<br /> decluilng to inaure this Securlty Iastrument and the Note. ahall be damed conclusive pmof of such
<br /> � ineligiblliry. Notwithstanding the foregoing. this option may not be exercised by Lender when ttte
<br /> unavailabiliry of insurance is aolely due to I.ender's failure to nmit a mortgage insarance pnmiwn to t]n
<br /> . Seeretary.
<br /> 10.Rdmt�tement. Borrower has a rlgltt to be reiastated if L.euder has reqnired iunmedi�te payment in fvU
<br /> because of Bomower's failure to pay aa amount due under the Note or this Secudty Instcum�nt.This rIght applia
<br /> evcn a1'ur io�Iosun piocoaiiu�i aie i,;a'iutod. Tv ccfr�,�aic tha�csuiiy itts�xat, Ectm:.:,t o2s:.0 tsadrs fa s
<br /> lump awn all aaiounta required to brIng Barrowet's accouat current including. to tuo eatent they ue obligations of
<br /> Borrower under this Secudty Instrument,forectoaure costs and reasonable and cuatomuy attomeys'fees end exprn.ges
<br /> � properly asac�ciatod with the foroclosure pracading. Upon reinstatement by Borrower, this Securiry Insuvment and
<br /> the obl�gationa that it secures shall remain in effect as if Lender h�d not roquirod immediate paymant in full.
<br /> � However, Lender js not �uind to permit reinstat�inent if: (t) L�ader h� accepted ninstuemeat after the
<br /> commencement of forulosure proceedings within two years immediauly preceding th�cammencement of a curneat
<br /> foroclosuce proceeding, (ii) reinstatement wlll pnclude foreclosure on dlffennt grounds ia the futun, or(iii)
<br /> ninatuemeat wUl adveraely affxt the prlorlty of the lien created by thia SecurIty Instrument.
<br /> � 11.Botrower Not Rdea4ed;�brbau�nce By I.enda Not a Wdver. Fa[teosIon of the time of paymeat ot
<br /> modiRcation of amortizuton of the sumv aecured by tl�is Security Insaument granted by I.endor to any suooeswr in
<br /> interest of Borrower sh�ll not operaic to xelease the liabllity of the orlginal Borrower or Borrower'a succe.isor tn
<br /> • intenst. Le�nder shall uot be requind to commenee proceedings ageinst aay suocessor in iatenst or refuse to extend
<br /> time for payment or otherwise modify amortlzadon of the sums secueed by this Securiry Instn�ment by rcisoa ot any
<br /> . . dea�and made by the origtnal Borrower or Bomower's suca;ssors in inurest.Any forbearance by L�ender in exen�ising
<br /> ' aay right or nemedy sLa11 not be a waiver of or preclude the exercise of aay rIght or nmody.
<br /> 12.Succasors and Aastgos Bound�Jotnt and Several Ltability;Co,Signere.T'he coveaants and agrocm�nta
<br /> � , of tWs Secudty Instcument shall bind and bene8t the successora and asaigns of Lender and Borrower.subjxt to tho
<br /> pmviatone of ps�ragraph 9(b). Botrower's covenanta and egraments shall be joint and aeveral. Any Borrower wlw
<br /> co-signs this Securiry Insuument but doea nat�xecuu the Note: (a) is co-signing this Secudty Instn�meat only to
<br /> mortgage,grant and coavey that Borrower's inurest in the Property under the terms of tLis SecurIry Instrumeat; �b)
<br /> ia not persanally obligated to pay the sum�aecured by this Securiry Instrnmeat;and(c)agrees tlut Lender and any
<br /> other Borrower may agne to eaund.modify, forbear or make any accommodations with regerd to the urma of tLis
<br /> Sccudty Instrumeat or the Note without that Borrower's consent.
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