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<br /> ��.�- (i)All or part of the Property,or a bcneficial intcrest In u trust owning all or part of thc Prapeny,is sold �'--
<br /> ..s,,,�.uw+� or otherwise transferred(other chan by devise or desant),and �_�
<br /> t (ii)The Property Is not occupied by the purchaser or grantee as his or her principal residence, or the ,,,_
<br /> � j� purchaser or grantee das so occupy the Prapeny but his or her credit has not been approved in !�__
<br /> , � t acwrdance with the requirements of dis Secretary. � --
<br /> � (c) No Walver. If circumstances occur that would permic Lender co require immediate payment in full, but _
<br /> . �� ,t I.ender does not requ{re such paymenta,Lender does not waive its rlghts with respect to su bsequent events. °
<br /> �: (d) Regulatlons ot HUD Secretory. In many circumstanas regulations issued by the Secretary will limit _=--
<br /> Lender's rights. in.the case of payment defaulu,to require imme.diate payment in ftill and foreclose if not �:,
<br /> ' � paid. This Security lnstrument dces not authorize accelecation or foreclosure if not permitted by regulations =
<br /> of the Secretary. _
<br />-. (e)Mortgage Nut Insured.Bonower agrees that if this Security lustrument and the Notc azc not det�rmined •
<br />�� to be eligible for insurance under the National Housing Act within 60 days from the date hereof, I.ender -
<br />- may, at its option, require immediate payment in full of all sums secured by thls Security Instrument. A
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<br /> � written statement of uny authorizecl agent of the Secretsuy dated subsequent to 60 days from the date hereof,
<br /> declining to insure this Security Instrument and the Note. shall be deemed conclusive proof of such
<br />- ineligibility. Notwithstanding rhe foregoing, this op[ion muy not be exercised by Lender when the
<br /> I r.., unavailability of insurance is solely duc to Lender's failure to remit a mortgage insurance prcmium to the
<br /> Secretary.
<br />= 10. Reinstntemeat. Borrower lias a cight to bc rciastated if l.endcr has required immediate payment in full
<br /> ' becausc of Bonower's failure to pay an amount due under thc Nate or this Security Insuument. This right appltes
<br /> ' even after foreclosure proceedings azc instituted. To reinstate thc Securlry Instrument, Borrower shall tender in a
<br />', . - lump sum all amounts tequired to bring Borcvwcc'S uc:i:�uai cutr2nt inctuding,ta the aztent shty sre obligatiQns of
<br /> . Bonower under this Sec�uiry Instrument,foreclosure costs and reasonable and customary attomeys' fees and expenses
<br /> � properly associated with the foreclosure proceeding. Upon reinstatement by Bonower, this Securtty Instrument and
<br /> the obligations d�at it secures shall remaia in effect as if Lender had not requirzd immediate payment in full.
<br /> . However, Lender is not requircd to pemut reinstatement if: (i) I.ender has accepted reinstatement after the
<br /> commencement of foreclosure proceedings within two years immedtately preceding the commencem�nt of a current
<br />-- foreclosure proceeding, (ii) reinstatement will pteclude foreclosurc on different grnunds tn the furure, or (ili)
<br /> . retnstutement will adversely affect che prioriry of the Ilen cr�ated by this Security Instrument.
<br /> , 11. Borrower Not Released; Forbearance By Lender Not a Watver. Extension of the time of payment or
<br /> - ' ' modifieation of amortization of the sums secured by this Securiry lnstrument grantecl by I.ender to any successor in
<br /> ' interest of Bonower shall not operate to release che liabiliry of the ortginal Bonower or Borrower's successor in
<br />,'��'' "" " ,. interest. Lender shall not be required to commence proceedings against any successor in interest or refuse ro extend
<br /> , .,,. ;. time for payment or otherwise modify amoxtlzation of the sums secured by this Securiry Instrument by reason of any
<br />- � demand made by the orlginal Bono�ver or Bonower's successors in interest. My f'orbearance by Lender in exercising
<br /> _ any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy.
<br /> 12. SuccGSSOrs and Asslgns Bound;Jotnt and Several Liabttity;t;o-Signeis. ihe covenants and agreeu,cuts
<br /> � of this Secudty Instrument shall bind and benefit the successors and assigns of Lender and Bonower,subject to the
<br /> , provisions of pazagraph 9(b). Sorrower's covenants and agrecments shall be joint and severul. Any Bonower who
<br /> co-signs this Security Instrument but does not execute the Note: (a) is co-signing this Securlty Iustrument only to
<br /> � mortgage, grant and convey that Borrower's interest in die Property under tho t�rms of this Security Instrumenr,(b)
<br /> �� � is not personally obligated to pay the sums secured by this Securiry Instrument; and(c) agrees that Lender and any
<br />— „ }• other Borrower may agree to extend, modify, forbear or make any accommodations with regazd to the ternis of this
<br /> ` � Security Instrument or the Note without that Borrower's consent. _
<br /> ��4R(NH1 ie�oa�.o� reqo 5 or s imi y��C1/�
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