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201207753 (i)All or part of tiie Properiy, or a beneficial interest in a tivst owming a11 or part of�►e PmperLy, is sold or otherwise hansferred(offier tban by des�ise or desceat), and (i� The pruperty ie not occupi�i by tl►e pmchaser or gisntee as hie or her principal residence, or the piu+ehaser or grantee dnes su occupy fhe Property b�rt 1�s ur her credit Las not been approved in accordance with the req��me�s of the Secietary- (c)No Waiv�. If circ�siances occw fhat would perm3t Lender to req�dre imme�abe�yme�in full, but Leader does�t req�dne such payme�s,I.ender does not waive�is righls wiUi iespect to subseque�events. (tn R.egulallons of HUD Secretary. Tn many ciicmnstances regulations issued by fhe 5ecretary wiII limit Lender's righis, in the case of payme�defaulls, bu req�rine immediabe payme�in full and foreclose if not pa{d„ Tbis Security Ins�ent does not authorize accelerafYon or foreclos�e if not permitted bY reg�aHo�s of U►e Secretary. (e)Mortgage Not Insm�ed.Borivwer agrees that if this Secmiiy Insh�mne�and the Nobe are not determined to be eligible for insivance �mder the Nabtonal Honsi� Act within 60 days from fhe date hereut, Lender maY, at i1s optton, ieqirine immefiiaLe payme�in fall of aII s� secwed by this Sec�lty Instn�e� A wririen siabemeut of aqj authorized age�of the Secretary dated eu�eque�to 60 days fmm ffie dabe heneo� ��g � �nsme t�s Seciuqty Tn,ytn�e� and �e Nobe, shall be deemed conclnsive proof of such inelig�iibility. Notwi�tanding fhe foiegoi�,Q- 13�is oplion may not be exercised by Lender when f�e �availebility of iffi�uance is solely �e bo Lendei's failure to remit a mortgage iffiurance piemiim►10 the 5ecretary. 10. R�tas�at��t Boriower 6as a right tiu 1� reiffi�d if Lender has req�died immediate payme� in fu11 because of Borrower's failme to pay sn aa►o�t due �mder ffie Note or fhis 5ecmiiy InRlrume�. Tlds *'Yg1rt aPPues even af6er foreclos�+e proceedings are instthrteil. Tu ne�ns�te the Securitiy I�S�� B°n'°wer shall tender in a _ lwnp s�all amo�mts req�dred 1b 1u�tng Borrower's acco�mt ciureat iaclnding, to �e egteat fhey are obligatitons of Bomower�der�ds 5ecm�ity Insh�mien�, foreclosm+e costs and reasonable and c�inmary ad�orneys' fees and expeffies pro�redy associabed wi�the goreclosime pinceeding. Upon neeins�tement by Borrower, this 3ecmity I�tr�eut and the obligabtons that it sec�mea shall zemain in e�ect as if Lender had not ieq�dted immecHate paYme� in fall- However, I.ender is not ieq�red to permit nefnsffi�eme� �'- (i) i.ender has accepbed i+eins�teme� a�ber t�e commenceme�of foieclosw+e procee$n�s wifldn two yeais immet�tabely preceding the commenceme�of a cmi+e� foreclosme proce ;nv, (ii) neeinst�eme� w�11 pmclnde foreclos�me on differe� gnoimds in the fut�u+e, or (iii) ieiffitabeme�will adversely affect ffie priority of Uie lfen created by this 5ec�nity I�t�nmieut 11. Borrow�'Not R.deased; Forb�rance By L�d� Not a Wafv�. Fxtiension of the time of payment or modificaHon of amortizalion of fhe s� secured by this 5ec�nity Insir�te�g�nted irY Lender bo anY gnccessor in iuterest of Borrower shall not opezahe 1n rele�e ffie liability of the original Boa'ower or Borrowei's successor in �i�erest Lender shall not be reqidned to commence prnceedings against any snccessor in inberest or refuse to estend lime for payme�or otherwise modify amordaahion of�e s�s secured by fhis 5ecmity In9gh�mie�by ieasoa of any demand mad�by the uri�nai Boreower or Borrower's snccessozs in iffieresL A�forbearance by Lender ia exerciaing any right or iemedy shall not 1�a waiver of or preclude�e exercise of airy dght or remedy 12. Sncce�ors and A��ps Bunnd; Joint and Sev�'al I.iabiiity; Cu-S�ne�s. The covenanls and agneeme� of�ds Sec�u�tty 7�h�mie�shall 6atnd and beneflt the successors and assigns of Lender and Borrower, subject to the provlsions of patagraph 9(b). Borrower's covena�s and agneeme�sha11 be 3oiut and seveial. Any Borrower who . co-signs this Seciuity Inslr�ent but does not exec�rte the Note: (a) is co-signing fhis Secmity Insh�ent only to morigage, �ant and com ey fhat Borrower's�tnbeiest in t�e Property�der the terms of this Sec�uity Instnune� (b) is not�isonally oWigated to pay the suffis secmed by tlds Secmity Instn�e� and(c) ag�ees ffiat Lender and any offier Borrower may sgree tn extend, �dify, forbear or make any siccommodaHons with iegazd to the 1�rms of this 3¢cwity Iffih�e�or ffie Note wifho�11�Borrower's conse� 8 61613 3 7 �� �_4Nrn+b�.oZ,.o, �S�e ��M �