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<br /> �.��~��` ���°'y`"�' nutstrs�xlin�iixlci�tcd�icss u;��l�r tlic�lotc mid ti�is:ic:curity iu�,uui��ti�t sLaU G;,��at�l tu ci��c:iitiiy Ic�.::ily cu;i:t;•�t�:;;�:t:.
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<br /> 8,Fets,L.encfer rnay colle.ct fces nnd cl�urges Authoriz:d by tt�c;SecretAry. .
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<br /> _-----_� 51.�;roundv frar.�cseieruYlu�a u:�i:��. -
<br /> (a) Uefauit. l.endar may, exccpt as limited by regukuians issuod by the Secretary in tlie cas� �f paynuut c�CGeult9,
<br /> � require immediute puyment in full of ali sumg�ecured�Fiy this Scxurity instrument if:
<br /> (i)Borm�ver dcfaults by failing to pay in full uny monthly payment requirecl by this Securtty Instninxnt prinr to ar
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<br /> on thc due date of the ncxt monthly paymcnt,or
<br /> _ tii) Horrower defaults by failiug, fos u periosl of therty days. to perform�ny �ther ablignttans c9ntainal in t �s
<br /> __— Security Instrument.
<br /> --- -� (b) Sale Without Credlt Approval. Lcnder shall, if permittul by applicuble law and with the prior appr�nvni of thc -
<br /> -_----- - Secretary,require inunediate p:�yment in fiill of all sums secured by this Security Instmment if:
<br /> (i) All or part of tlte Property, or a benefic[al intec�est in n tn�st owning all or part of the Aroperty. Is sold or
<br /> _ _ _ ___, otherwise transferrecl(otiier than by devise or deseent)by the Borrower,and
<br />-----���__�; (ii) 'the Propeiay is not oacu�ied by the purchaser ar grnntee as his ur he;• �:inciF�l r,iden�, or th� -
<br /> -_�__ ' purchuser ar�cantec does so accupy the Property but his or her credit has not been appruved in acc�rdance wlth the
<br /> n�;"�'-''`"�`�-�i requirements of die Secretary.
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<br /> `F�'�''� . (c)No Waiver.If circwnstances occur that would permit Lender to require immediute payment in full, but Lender dars
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<br /> __ nat reyuire such payments.l..ender c�oes not waive its rights witl�respect to subsequent events. _
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<br /> _�:;�.��x'?��°., . (d) Regulations of HUD Seeretary. In many circumstances regulntians is�ved by the Secretary will limit Lender's
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<br />---rT��.-, , .vti � rfights in the case of payment defaults to require imanediate pAyment in full and foreclose if not paid. This Sc�urity
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<br /> ,r{ x.:::�,��� Instrument does not authori•r.e acceleration or foreelosure if not permitted by re�ulntions of the Secretary.
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<br /> (e)Mortgoge No4 Insured.Borrower ugrecs that snauici cnis Securiiy i�ui�ui�icui�,3 i ^ a.�xec�r�:f-l:----
<br />.�.�<.;���,•�.�.�-,,:J. eligible for insurance under the National Housing Act�vithin 60 days from the date hercof, Lender may,at its option �
<br />- � ��,�"�:,��. ' and notwithstanding:u�ydiing in paragraph 9, recRuire immediate payment in full of all sums secured by this Sccurity
<br />��'.� � � ' '. •;;�.�: Instrument. A written statement of any �uthorized agent of the Se:cretary dated subsequent to 60 days from the date
<br /> J�'�'��,��-' ��=�r`'�>-t hereof,declining to insure this Security �nsirument and the Note secured thereby,shull be deemed conclusive proof of
<br /> .� • �";+.n����;�,ry� such ineligibility. Notwithstanding thc�foregoing, this o�tion may not be exercised by L.ender when the unavailnbility
<br />._..-�'�•:�?ii'+'�'-, of insurance is solely due to Lender's failure to remit a mort�age insurance premium to the Secretary.
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<br />-��'�M'"'''"""'"' 10. Refnstntcment. Borrower has a reght to be reinstat�•if C.ender hus required immcdiate paymcnt in Cull becuuse of
<br />•_�w�n�...y,... -.i.,+n.,
<br /> r+rx,.�•;. Borrower's failure to pay an amount due under the Note or this Security Instrument. This right applies cven aftcr foreclosure
<br />.,;:�:"• ",1•��'� y proceedings are instituteil. To reinstate the Securiry Instniment. Borrowcr shall tender in a lump sum all amounts required to
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<br />��+:•.. �•>�-�:aaT�:• bring Borrower's account current includin�, ro the extent they are obli�ations of Borrower under this Security nstrument,
<br /> �°�~.��"�� - .-.'.,. foreclosure costs and reasonable and customary attomcys' fees and expenses properly associated with the foreclosun;
<br />_:>>"'• � � procceding. Upon rcinstatement by Bonower,this Security Instrument and the obligations that it secures shall remain in effect
<br /> : " �^e�.�. •�. as if Lender had not required immediatc payment in full.However,Lcnder is not required to permit reinstutement if:(i)Lendcr
<br /> �-• " •- has accepted reinstatement after the commencement of foreclosure proceedings within two years immediately preceding ttie
<br /> commencement of a curcent foreclosure proceeding. (ii) reinst�tement will precludc foreclosure on different�rounds in thc
<br /> � � ����'.• future,or(iii)reinstntement will adversely affect the priority af tt�e lien creuted by tl�is Secusity Instrument.
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<br /> °t��'� . 11.�orrower Nof Releused;Forbenrance By l.ender Not A Waiver.Excension of the time of payrnent or modification of
<br /> _T:-
<br /> ,��,'�_`,'� amortization of the sums secured by this Security Jnstrument granted by Lencler to any successor in interest of Aonower shall
<br /> '.,�� not operate to rel�ase the linbility of the original Borrower or Borrower's successor in interest. Lender shall not be required to
<br /> �,� • cornmence proceedings against any successor in interest or refuse ro extend time for payment or othenvise modify amortization
<br /> � of the sums secured by this Security Instrument by reason of uny demnnd made by the original Borrower or Borrower's
<br /> � successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the
<br /> exercise of any right or remedy.
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