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<br /> (i>All or pan of the Property,or a btneGcfal interest in a trust ownir�g a!I or part of the Property,is sold
<br /> or otherwlse transferred(athcr th�n by dcvisc or descent),and
<br /> (ii) 'Phe Prapecty is not occupled by the purchaser or grantee as his or her principal residence,or th�
<br />' puechaser or granta das so cecupy the Property but his or her credit l�as no[ been approved in
<br /> accocdanc�with the requirementa of the Secretary. �
<br /> (e)No Walver. If cireumstances occur that woulc!permit Lender to requlre immediate payment in full, but
<br /> Lender does not reyuire such payments,Lender does not waive its rights with recpect ta subsequent cvents,
<br /> (d) RegulAtions of HUD Secretary. ln many circumstances regulations issued by the Secretary will limit
<br /> Lender's rights, in the case of payment defaults, to r�quire imnnediate payment in full and foreclose if not
<br /> paid.This Securiry Irtstrument daes not authoriu acceleration or foreclosure ef not permitted by regulations
<br /> of the Secretary.
<br /> (e)MortgAge Not Insured.Borrower agrees that if this Security instrument and the 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 aption, require immaliate payment in full of all sums sa:ured by this Security Instrument. A
<br /> written statement of any authoriud agent of the Secretary 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 the foregoing, this option may not be exercised by Lender when the
<br /> unavailability of insurance is solely due to Lender's failure co remit a mortgage insurance premium to the
<br /> Secre�ary.
<br /> 10. Relnstatement. Boaower has a right to be reinstated if Leuder has rcquired immediatc payment in full
<br /> because of Borrower's failure to pay an amount due under the Note or this Security Instrument. This right applies
<br /> even after farxlosurc prucecdings aze instituted. To reinstate thc Security Instrument, Borrower shall tender in a
<br /> Dump sum all amounts required to bring 13onower's account current including, to the extent they aze obligauons of
<br /> Borrower under this Security Inscrument, forcclosure costs and reasonable and customary attorneys'fees and ezpenses
<br /> properly associated with the foreclosure prceeeding. Upon reinstatement by IIorrower, this Security Instrurnent and
<br /> the obligatians that it �xures shall cemain in effect as if L,ender had not required immediate payment In full.
<br /> However, Lender is not required to permic reinstatement if: (i) Lender has accepted reinstatement after the
<br /> commencement of foreclosure proccedings within two yeus itrunediately preceding ttie commencement oi a cu.nenc
<br /> forcelosure proceeding, (ii) reinstatement will preclude foreclosure on different graunds in the future, or (iii)
<br /> reinstatement will adversely affect the priority of the lien created by this Security Instrument.
<br /> 11. Borrower Not Released; Forbeara�ce By Lender Not e Waiver. Eztension of the time of paymen�or
<br /> modification of emortization of the sums secund by this Security Instrument grantecl by Lender to any sucassor in
<br /> interest of Borrower shall not operate to rel�au the liability of the original Borrower or Borrower's successor in
<br /> interest. I.ender shall not be required to commence proccedings agains[any successor in interest or refuse to extend
<br /> time for payment or otherwise niodify a�norti7ation of che sums secured by this Security Instrument by nason of any
<br /> danand made by the original Borrower or Boirower's successors in interest.Any for6eazance by Lender in exercising
<br /> any�ight or remcdy shall not be a waiver of or preclude the exercise of any right or remedy.
<br /> 12. Successo:s and Assigns Bound;Joint and Several Liabiltty; Co-Signers. The covena�us and agreements
<br /> of this Security Instrument shall bind and benefit the successors and assigns of Lender and Bonower, subject to the
<br /> provisions of paragraph 9(b). Borrower's covenants and agreements shall be joint and several. Any Borrower who
<br /> co-signs this Security instrument but dces not execute the Note: (a) is co-signing this Seeurity Anstrument only to
<br /> mortgage, grant and convey that Bonower's interest iri the Propeny under the terms of this Security Instrument:(b)
<br /> is not personally obligated to pay the sums secured by this Security Instrument; and (c)agrees tha�Lender and any
<br /> nth�r A�rniwer may a¢ree to extend, modify, forbear or malcc any accommodations with regard to the ternu of this
<br /> Security Insuument or the Note withouc that 9orrower's consent.
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