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<br /> (i)AU or part of tha Praperty,at o bena�cial intcrest in a trast owning�11 or pan of ihc Propcny,is sold or
<br /> athcrwisc transfcrrcd(othcr thun by dcvisc or dcsccnt).end
<br /> (ii)'Ihe Property is not occupicd by the purchascr or grantee as his ar her principal resldcnce, or the
<br /> pureha�cr or grantcc docs ao occupy iha Praperty but his on c�r crrdit htus not bxn approvcd in accordancc
<br /> �vith the rcqulremcnG�of the Sccrctary. �
<br /> (c)Na WAlve�.If clrcumstances occur Ihat w�uld permit Lcndcr to rcc{uiro immcdlatc paymcnt in fuU, but
<br /> l.cnder docs not rcquire such paymcnts.iandcr does not waivc ita dghts wlth respect to subsequent cvents.
<br /> (d) ise�ulatbne o�HUD Secretnry. In many circumstances reguladons �SSUed by �ho Secretary wiU Wnit
<br /> Lcndcr's rhghts,in ihe case of payment defaulis,to requlre Itnmcdiate paymcnt in fuA and forcclose if not paid.
<br /> 'Itiis Socuriry Instrumcnt das not euthoriT.e scceleradon or foreclosure If not permitted by regulabons of the
<br /> Sxrctary. -
<br /> (e)Mortga{e Not lnaured.Bocrowcr agnoes that if thls Securlty Instrument and the Note are not determined to
<br /> be eligible for insutence under the Nadanal Housing Act within 60 days from the date hercof,I.ender may,at
<br /> its optbn. rcquire Lnmediate paymcnt in fuA of all sums secured by this Security Instrumen� A wrinen
<br /> statement of any authorizcd agent of tha Sor,retacy datod subsequent to 60 days from the date hercof�docUnjng
<br /> to inwro Ihls Security Ir.stcument and the Note, sheU be deemed conclusivo proaf of such ineligibility.
<br /> Notwtlhstanding the facgoing, this opdon may not be exercised by Lender when thc unavailability of
<br /> insurw�Is solely due ta Lcnda's failurc to cemit a mortgage insuranr,e premium to the 5ccretary.
<br /> 10.Reinshtemrn�Borrowu ha4 a dght to be ninstaud if Lender has requircd immediate payment in full because
<br /> of Bocrowu's Failure W pay an amount due under the Note a this Socurlty Instrumen� This right applles even after
<br /> forocbsure pmcr�edings ara insdwted.To rcinstete the Securlry Insuument,Borrower shall tendcr in a lump sum aU
<br /> amounts mquirod to bring Borrower's account current including,to the extent thay am obllgations of Borrower under
<br /> this Securlty Inswment, foroclosure costs and reasonable and casWmary attnmeys' fees and expenses propeily
<br /> associaced with the foreclos�ue proceedlnB• Upon reinstatement by Borrower, this Sxusjty Instrument and the
<br /> obllgations th�t it sec�res shail rcmain in effcct as If Lender had not required immodiate paymant in full. Howevu,
<br /> i,er�der i.g not roquired to permit reinstatement if: (i)Lender has accepted reir�statement after the wmmencement of
<br /> foreclosure proceedings wtthin two years immediately pra,eding �he commencunent of a current foreclosure
<br /> prceeeding, (ii)reinstaWnent wiU proclude foralosure on differ�ent grounds in the futun,or (iti) neinstatement wlll
<br /> eci�aycty sf�ax i,:�prtcrity af the liess sxested by Q�s S!r�!*ity Tnc�men�
<br /> 11. Borrower Not ItekASed; Forbearana By Leoder Not a Waiver. Factension of the time of payment or
<br /> modificadon of amortization of the sums socnrod by this Security Instrument granted by Lender w any suoces.sor in
<br /> innaest of Bamwa shall not operate W release the liability of ihe odginal Borrowcr or Boirowu's succrssor in intcrest
<br /> under shall not be cequirod co commence pincoedings against eny successor in jnterest a nfuse to axte,�d dme fa
<br /> payma�t or atherv�rise modify amorti�adon of tha sums secund by this SecurIty Inswment by reason of any dcmand
<br /> made by the originel Bormwu or Borrowu's successors in i*►tuesG My forbearance by Lendcr in exercising any right
<br /> or rtmedy shall not be a waivu of or preclude tlia eaercise of any rlght a remody.
<br /> 12.5ucasaora And Aasigna Bound;Joint�nd Several Liabi�ty;CaSignera The covenants and ag�eements of
<br /> this Socurity Insorument shell bind and bec�efit the successors and assigns of Lenda and Borrowu. subjoct to the
<br /> provisions of paragraph 9(b). Borrowcr's covensnts and agroemcnts sha11 ba,joint and several. Any Bamwer who
<br /> co-signs ihis Sec�uity Inst:ument but does not axceuu ihe Notr.: (a) is co-signing this Sectuity Instrument only w
<br /> nw�tgagc,grant and convey that Bormwer's intaest in the Pmparty ander the terms of this Security Instr�ment;(b)is
<br /> not pusonally obl�gated to pay the sums secured by this Security Insnument;and(c)agras that Lender and any wher
<br /> Barowu may agrx to excend,modify,forbear or make any accommadations with regard to the tem�s of this Socurlty
<br /> Instrument or ihe Note without tbat Bonc�wu's wnscnt.
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