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<br /> ,;�,� (i)All or part of thc Propercy,or a bcncficial intcrest in a trust owning uU or part of thc Propeny,is sold or ;::'4
<br /> , othciv�rLse uansfcrred(oiher then by dcvisc or dcscent),and •�,.�
<br /> � (ii)'It�a property is not occupiod by tho purcha�er or gantee as h�s on c�r prtncipal residcncc,or the ��,.
<br /> purchaur or grentea does so oocupy thc Property but his on c�r credit has not bcen approvcd in accordance e _
<br /> -i with tha requ.inments of the Secretacy ent in full.but �
<br /> (c) No Waiver.If circumstances occur that would pamit l.ender to rcquin immediato PaYm
<br /> Lender does not require such payments,Lender does not waive Its rights with respect w subsequent events.
<br /> � d) Rt�ul�ttions ot NUD Secretary'. In many circumstences regul8dons issued by ihe Secretary n t aid� _
<br /> � ent in fuU and forcxlose�f p
<br /> �,; I�endu's rlghts.in the case of payment defaults.to re9uirc immcdiatc Pal+m
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<br /> � 'Ihig gxur(ty Insuument does not authoriu eccdua�on or forcclosuce ff not pumitted by regaladons of e
<br /> � Secretary. �__
<br /> (e)Mortgage Not Insured.Borrower n�ees thet if tbis Se�►ult7'Insm�men�an�111�e Note are nat dcuxmined w
<br /> �•. be eligibk for insuiance under the Natioaal Housing Act within bU daYs from the dats heseof,Lendec may.ac
<br /> its opdon, re4uire immediate PaYment in full of all sums secured by this Securlty InsuumenG A wcitt,en
<br /> stetement of any authorjzed aBent of tha Secretary dated subsequeat to 60 days from the date hereof.decUi►ing
<br /> �� W insure this Securiry Insuvmeat and the Note, shaU be deemed conclusive pnoof of such ineUgibllity.
<br /> Notwithstanding the foregoing. this optlon may uot be exercisecl by Lender when the unavailability of —
<br /> . Insurence is sokly due to I.ender's failiu�e W remit a mortgage insurance Ixemium to the Secretary.
<br /> + 10.ReinclatemenL Borrower hes a right w be ce�nstaud if i-e�du has ral�'��m�������full because
<br /> of Bosower's faiLue to PaY a�amount due under the Note or ttds Security Inst�uumen�'ll�is right applles even after
<br />- foreclosurc procadinBs are instiwted.To reinstate ihe Security Instrumen�Bomnwer shall usnder in a lump sum all
<br /> .._-__- - -'- - �,n.��c rcquired to bring Horrower's�nt cumnt including.to the extent they ace obllg2uions of Bomnwa undcr
<br /> - this Socarity Iasuument, foreclosure costs and reasonable and cuswmary aibo��.�S�ulty Instrument and�the
<br /> �{,� with tha foreclosure proceedin8• UPon reinstatement by Borrower,
<br />'�' obUgadons dwt it secures shall rcmain in effect as if Lendu had not requued fmmediate PaYR►era ic► full. However,
<br /> _ . , �`,�.,� i Laider is not ro4uired W P�dt mfismtement if: (�) Lenda has acceptecl re9nstat�ement efcer the commencement of
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<br />;,� ,�;.. foroclosure proceedinSs within iwo years imme�lacely prececlin8 the comme�ncement of a cutrent foreclosure
<br /> . " �• procoodin8, (Ii) ninstatcment wIll preclude forxbs�ro on different gmunds in the Cuwre, or(iil)reins�tetnent will
<br />-�,"' �' adversely affxt the priotlty of tlw lien created by this Socurity Instnunen�
<br />;'`'"� il.Borrower Not Itek�sedi Forbenrana B9 Leoder Not A Waiver. Extension of the pme of payment or
<br /> "�';,:�`::�.��' modificedon of amorti�adon of the sums secured by this Sxuriry Insrcumei►t granted by Lendu w any successor in
<br />�'`..'•:-;' ...`,. intarst of Borrowu shaU not operate to release the liability of the original Borrowcr a Borrowu's successor in interes�
<br />_�'� `.";�;�'� Lender shall not bc raluired to commeace prococdin8s a8ainst any successor in interest or refuse w eatend dme for
<br />_,°�'�...: '" t or othuaise modifY emo�izetbr►of the sums secund by this Socurity Instnunent by reason of any dertwnd
<br />_.-�-T.�. PaYmen
<br />-�;;;:;-:_:_;..:�,� mad�by the ortginal Horrowu or Borcower's suocessors in interest Any forb�uacice by Lender in exerclsing any right
<br />__a r:;: . �' a re�nedy shall not be a waiver of or proclude the exercise of eny right or remedy.
<br /> -- 12.SuccG.gso��and Assi�os Bound;Joint and&veral LiAbvity;Co-Signers.'fhe oovenants and agreements of
<br /> ``�=-�"`', .. this Security Insuument shall bind and beneCt the successors and assiS�s of I.ender and Borrower, subject to dtie
<br /> provisiona of paragraph 9(b). Bomowtx's covenants and agroemeats sha11 be,joi�►t and scv�ual.My Borrower who
<br /> -=-'� .�.•� co.signg this gecuriry Instrument but do�s not eaecute the Note: (a) is co-signing this Securliy Insirument only ro
<br /> --�-�'', mongage,Egaat and oonvey that Bonower's interest in the PropercY unda the te�ms of this Socurity Instrument;(b)�S
<br /> A_W,,:� � not personally obligat�ed w pay the sums seeured by this Security Instcument;and(e)agrxs that Lendu and any other
<br /> "�"."'-� .. Bocrowu may agroe to extend.modifY,forbear or make any accommodadons with regard to the tecros of this Security
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<br /> Instrumcnt or the Note without that Borrower's consen�
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