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<br /> 98-112'737
<br /> (i)All or part of the Property,or a beneficial interest en a uust owning all or part of the Propeny, is sold
<br /> ur otherwlse transfernd(other thm by devise or descent),And
<br /> (ii) 'fhe Propeny is not occupied by the purchaser or grantoe as his or her principal residence, or ehe _._
<br /> purch�ser or granta das so occupy the Pcoperty but his or her credit has not been approved in
<br /> wccord�nce with the requirernenta of the Sea��tary.
<br /> (e}Nu Walver. If circumstances occur that would permit Lender to require immediat�payment in full, but
<br /> Lender doea not require such payments. ixnder das not waive its rigl►ts with respect to subsequent events.
<br /> (d)Re�ulatlon4 ot Hi1D SeeretAry.[n many circumstances regulations issued by the Secretary will limit
<br /> Lender's rights, in the case of payment defaults, to require immediate payment in full and foreclose if not
<br /> p�1d. This Sxurity Instrument does not authoriu acceleration or forxlosun if not permitted by regulatians
<br />' of the Saretary.
<br /> (e)MurtgR�e Not Insured.Bonower agrees that if this Security Insuument and the Not�are not determined
<br /> to be ellgible for insurance under the National Housing Act within 60 days from the date hereof, l.ender
<br /> may. at its option, require immediate payment in full of all sums securod by this Securit� Instniment. A
<br /> written statement of any authorizal agent of thc Secretary d�ai subsequ�nt to 60 days from the date henof,
<br /> declin[ng to insure this Security lnstrument and the Note, shall be damed conclusive proof of such
<br /> ineligibility. Notwithstanding the foregoing, this option may not be exercised by Ler►der when the
<br /> un4vailability of insurance is solely due to Lender's failun to remit a mortgage insurance premium to the ,
<br /> Secretary.
<br /> 10. Rdnsutement. Borrower has a righ[ to be reinstated if Lender has required immediate payment in full
<br /> lxcause of Bonower's failure to pay an arnount due under the Note or this Securlty lnstrument. This right applies
<br /> even after foreclosun procoe�ings are institutui. To reinstate the Securi[y [nstrument, Borrowcr shall tender in a
<br /> lump sum all amounta required to bring Borrower's account current including, to the ext�nt they are obligatiuns of
<br /> Borrower under this 5ecurity Instrum�nt,foreclosure costs and reasonable and customary attorney�'fas and expenses
<br /> properly asaociatal wtth the foreclosun praceeding. Upon reinstatement by Bonower, this Security Instrument and
<br /> the obligations �hat it secures shall remain in effect as if Lender had not required immediate pzyment in full.
<br /> Ho::aver, Lend:r ie not r���!trHi r� nermlt reinstatement if: (i)Lender hes accepted reinstatement after the
<br /> commecu:ement of foroclosure proaedings within two years immediuely pnceding the commencement of a curnnt
<br /> foreclosun proceeding. (ii) reinstatement wtll preclude forxlosuce on different grounds in the funin, or (iii)
<br /> reinstatement will udveraely affect the priority of the lien created by this Security Instrumrnt.
<br /> 11. BorruNer Not Rela►sed;Forb�nnce By Lender Ilot p Wwiver. Extensian of the time of payment or
<br /> modification of emonization of the sums saured by this Security lnstrument granted by Lender to any successor in
<br /> interest of Borrower shall not operate to nlease the liablliry of the�riginal Borrower or Borrower's successor in
<br /> interes[. Lender shaU not be required to commence pra:eedings agalnst any successor in interest or rofuse to extend
<br /> time for payment or otharwise modify amortization of the�ums securod by this Security Instrument by reason of any
<br /> deauand mxfe by the original Borrower or Borrower's successors in intenst. Any focbeuura by Lrnder in oxercising
<br /> any right or remedy shall not be a waiver of or preclude the excn;ise of any right or remcdy.
<br /> 12,Suce�ors pnd psaigns Bound; Jotnt and Several LiAbflky;Co-Signers. The covonaats and agraments
<br /> of thi�Security Instrument shall bind and brnefit the successors and assigns of Lender and Borrower, subjxt to the
<br /> provisions of paragraph 9(b). Borrower's cuvenants and agreemena shall be joint and several. My Borrower who
<br /> co•signs this Socuriry Instrument but does not execute the Note: (�) is co-signing this Securiry Instcument only to
<br /> mortgage,grant wnd convey that Borrow�r's interest in che Property under the terms of this Secudty Instcumenr, (b)
<br /> is not personally obligated to pay the sums securcd by this Security[nstrument; and (c)agras that Lender and u►y
<br /> other Borrower may agree to eztend, modify, forbeaz or make any xcommodations with regard to the terms of this
<br /> Security Instrument or the Noto without that Borrower's consent.
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