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<br /> �Vw ��Y���
<br /> (1)All or part of the Propeny. ot a beneficl� intereft in�tcust owning all or part of the Propeny,is sold
<br /> or othenvl�e trAnsferred(o�her thui by devik or descent),and
<br /> (ii) Tha Property is not occupled by the puroh�ser or granta a�his or her principal residence, or the
<br /> purch�ser or gcentee does co ocet�py the Property but his or her eredit hns not be�n npproved in „
<br /> �ccord�nce wlth thc requir�mena of tho Saretary.
<br /> (c)No Wplver. If circumstancea occur thoe would permit Lender to requin im�edlate payment in full, but
<br /> l,ender doea not require such p�yments.. Lender doc�not walve i�s rights wlth respcct to subsequent events.
<br /> (d)Re�ulatfone of HUD Sec►etwrY. In many circumstanas ngulaclons issued by ►he Scerctary will limft
<br /> Lender'e rights, in the r,ase ot payment defaults. to requin immediate payment in full and foreclose if not
<br /> p�id. Tnis Security Instrument does nat authodze acceleration or foreclosure if not permitted by regulations
<br /> of the Secretary.
<br /> (e)MortQAge Nnf Iasured. Botrower agrees that if thie Security Instcument and tha Note aze not determined
<br /> to be eligible for insurance under the National Housing Act within 60 days from the date hereof, Lender
<br /> may, at its option, require immediate payment in full of dl sums �ecured by this Security Instrnment. A
<br /> wdtten etatement of any eutbodzed agent of tAc Secretary dated subsequent to 60 days from the date hereof,
<br /> declining to insun this S�curity Instrumont and the Note, shall be damed conclusive proaf of such
<br /> {neligibility. Notwlthstanding the foregoing, cl�is option rnay not be �zercissd by Lender when the
<br /> unavailability ot insurance is tolely due to Lender's failun to remit a mortgage insurance pnmium to the
<br /> Secretary.
<br /> 10. Relnstwtement. Borrower ha�a rlght to be reinstated if l.ender has required immediatc payment in fuU
<br /> because of Borrower's failure to pay an amount due wder the Note or this aecudty Instrument. Thio right applies
<br /> even after foreclosure procadings aue instituted,To reinstate[he Security Instrument, Bonower srall tender in a
<br /> lump sum all amounts required to bring Borrower's account current including, to the eztcnt they ar�obligatione of
<br /> Borrower under this Security Instn�ment, foreclosure cost�and reasonable and customary attorneys'fees end expenses
<br /> properly asaociated wlth the foreclosuro praxding. llpon reinstatement by Borrower, this Securtry Instrument and
<br /> the obligations that it secures ahall nmain in effoct as if I.ender had not required immediate payment in full.
<br /> However. Lcnder ls not required to permit r�tnstuernent if: p) Lendar has accepted reinstatement after the
<br /> commencement af foreciosure proccedings wituiu t-.�%�y�yo :�w!�=�; Fn`-'"!'�o!he commeneement of a eurrent
<br /> foreclosure proceeding, (ii) ninstatement will preclude foreclasure on differont grounds in the future, or (iii)
<br /> ninatatomeat will adversely affect the pdoriry of the liea crcated by this Secudry Instrument.
<br /> 11. Horrower Not Released; Forbeannce$y knder Not� Wpiver. Extension of the time of payment or
<br /> modification of amortizallon of the sua�s sceured by this Security Insuument grantal by Lender ta any successor in
<br /> intereat of Borrower shall not operate to nieaise the Ilabili[y of the original Barrower or Borrower'a successor in
<br /> intereat. Lender shall not be cequlred to wmmence proceedinga agvnst any successor in lnterat or nfuse ro extend
<br /> time for payment or otherwisc modify amartization of the sums sc�cured.by this Sxurity Insttument by reason of any
<br /> dom�nd m�de by the oriEinal Borrowec or Borrower's successois in interest.My forbearance by Lender in ezercising
<br /> any right or cemedy shall not be a waiver of or preclude ttie eaercise of usy right or stimedy.
<br /> 12.Successora and Ass1Q�u Sound;Jotnt wnd Several Ltabllity;Ca+5l�nere. 'The covenants and agroements
<br /> af thls Security Inatrument shall bind u�d benefit the auccessora and aSSiBns of Lender and Borrower,subject to the
<br /> pmvisions of paragraph 9(b). Borrower's wvenants md�greements shall be joint and several. Any Borrower who
<br /> ca-signs Wis Security Instrument but does not execute tt�e Nota: (e) is co-signing this Securiry Instnrment only to
<br /> mortgage,grant and convey that Borrowor's interest in chc Properry ander the ternu of thia Securiry Instrument;(b)
<br /> is not personally obligated to pay the sums secund by thly Securiry Instrument; and (c)agrces that Lender and any
<br /> other Borrower may agra to extend,modify, forbeaz or makc any accommodations with regard to the terms of this
<br /> 5ecurity Instrument or the Note without tha�Borrower's consent.
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