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<br /> (i)All or pArt of the Property,or a beneflctal interest ia n trust owning ull or purt nf th�Property.la sold °
<br /> ' or otherwtse trrunsferred(other then by devise or descent).And
<br /> � (ii)'I'he�ropertY Is not occupled tiy the punhttser or grnntee us his or her principal residence. or tl►e
<br /> , purchnser or graatee does so accupy the Progerty but his or her credit has not been approved ln ''�..::
<br /> ._^�, accordaace with the mquirementa of the Secretarr.
<br /> •• ' (c)No Vi►citver. if circumstances occur that would permit Lender to require imme�fate payment in full, but . .
<br /> `" Lendet does not require sush payments.L.ender doe.c not waive its r��hts with respect to subsequent events. •
<br /> (d) Regulattons ot HUD Secretary. In mcu►y circumstances regulattons issued by the 5ecretary will limit .��
<br /> ' Lender's d�hta, W the case of payment defaults,to requim imraedtate payment ia full ar�d foreclose if uot •..,u�.,
<br /> , paid.This Security Instniment daes not authorize ecceletatton or forcclosure if not permitted by re�ulattona -_
<br /> of the Secretary. `;.-
<br /> � ', U (e)MortgoRe Not dasured.Borrower agrees that if this Security Instrument and the Note are not de►emained ;��r_,T
<br /> - "' e to be eligible for insurAnce under the National Housin�Act within 60 daya from the date hereof. Lender '.; „
<br /> °�' may.at its option, require immafiate payment in full of all sums securcd by thia Securiry Instrument. A --
<br /> � wrlttca state�ueat of any authorized agent of the Secretary dated subsequeat to fi0 days from the date hereof. �',. -
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<br /> declinin� to insure this Securiry Insaument aad the Nate, shall be deemed conctusive proof ot such ��°•`'
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<br /> ' �: ineligibility. Notwithstanding the fotegoinQ, this option znay not be exercised by Lender when the '�;��'
<br /> uanveilability of in9unwce is solely due to Le�der's failure to remit a m�n�age Waurance pmmium to the
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<br /> 10. Ite9nstcotement. Borrower has a dght to be reinatated if�nder has required immedfate paymeut ln ii�ll �
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<br /> ' because of Borrower's failure to pay aa amount due uader the Note or this Security Instn�ment. This right ePPlies �;u
<br /> .:�:: even after forectosure proceedinIIs are i►�stituted. To rcin.gtate the Security Instrument, Borrow�r shnll teuder in a �
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<br /> 7':, „, lwap sum all aznounts required to bring Borrower s account current Includiu ,ta the eatent tbey are obligt�tians of ---_.
<br /> "'s�`y� Borrower uader tt►is Securiry Instmment,foreclosure costs and reasonabie and customary attornsys'fees and expenses
<br /> � pmperly associated with the foreclosure proceedia8•Upon reinstatepnEnt by Borrower. thia Security Instnu�nent and
<br /> , � Q��}�{Qpy ��a_r. ic secures ahatl remain in effect as [f Lender had not require� immediaq�paymsat in fuli.
<br /> �, � � Iiovjrever, Lender is aot requiced to petmit reinatatement it: (i) i.ender has acxspted ICIA3lafCIDCAt �CT �he
<br /> commencement of foreclosuee proceedinga wlthia two years immediately preceding the commencement of a curreat
<br /> ' foreclosure ptor.eeding. (Ii) reinstatement will preclude forecloxnre on different grounds in the tl�tu�e, ar (iti)
<br />- � reiastatemee�t w1�11 adversely affect the prlority of th0lion created by thia Securlry Iastcument.
<br /> ' ' 11. �mower Not ReteASedt Forbenraace By Lender NoY n WNver. Bxtensioa of the time of paymant or
<br /> � modiflcation of amortization of We sums secured by this Security tasuument granted by Leader to uay suac�vvsor ia
<br /> � interest of Bo�sower shull aot operate to release tho liability of the origiaal Borcower or Borroaer's su�cessor in
<br />-- �':,M. lnterest. Lender shall not be reyuired to commeace prucxedings agaiast any successor in fnterest or refuse 4oastend -
<br /> " tirae for paynaeat or othenvise modify umorti7ation of the sums secured by this Securlty Insmrmeut bY rcason of auy
<br />= dxnmand made by the original Borrower or Bormwer's successors in interest.Aay forbearance by Lender ia exercisin�
<br />,�:°.�.;:,:::, any dght or remedy s1ia11 not be a waiver of or preclude the ezercise of any r�ght or rcmedy.
<br /> "`��� - - 12.Suocessors and Assfgns Boandi Joic.K aud SevetrW Llablttty;Co-Slgnera.The covennnts aad a�resnfents
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<br /> of this Security Iastcunnent shsilt bind aad benefic the successors nnd assigns of Lender aad lBorcower�auldj�a to e
<br />��''`'�"'�:-'� h 9 Borrower's covenants ond a ments shall be ofat aad several. Any Borr�wer who -
<br />,.•.., pmviatons af parugrsrp (b). S� 1 �
<br />-• � �::;.� oo-sigas this Securlry Inatruraent but does not execute the Note: (a)is casigatng thia Security Inatrument only to
<br /> �. mortguge�graat and convey that Borrower's interest in the Progeny under the terms of tbis Se��uriry Tnauument;(b)
<br /> �'.. .,,,�u�. ,� is aot personally obligated to pay the sums s�x:ured by this Secudry lnatn�ment: and(c)ag�+ees chat Leades and any _
<br />�'.:.r�>y�:,., other Borcower may agree to eatend.moilify. forbear or make any accommodations with re�ard to the te�of this
<br /> `"�:: � Secnrity Insm�ment or the Note without that Bore+ower's wnsent.
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