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<br /> referrc�! �u �� 1ra ra h 2, or chnn c thc amown ot such `—_
<br /> ,,, P� B P � paymcncs. Any cxccss procceds ovcr nn amount requirc:d to pny nll
<br /> - .. � outstandiug uedebtedncss under the Natc nnd this Sccurity Instrument shall bc paid to the cntity Ic�ally cntidcd thercto.
<br /> 8.Fees. Lender may collec:t fees nnd charges nuRhari•r.eci by thc Secretary.
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<br /> 9.Grounds for Accclerntion of Debt.
<br /> ti ' (a) Defoult. Lender may, except as limi�eci by regulations issued by the Secretary in the case of payment defaults.
<br /> ' , reyuire immediate payment in full of all sums secureci by this Security Instrument if:
<br /> (i)Borrowcr detaults by failing to pay in full any monthly paymcnt rcqui�cd by this Security Instrument prior to or
<br /> on thc due date of the ncxt monthly p;�yment,or
<br /> � ., (ii) Borrowcr dcfaults by failing, for a �criod of thirty days, to pertorm any othcr obligations contained in this
<br /> , •� . Security lnstrumcnt. �_
<br /> � .
<br /> t , . (b}Sale Y�Vithout Credit Approvul. Lender shalt, if permitted by applicable law and �vith the priar approvul of the
<br /> , Sccretary. rcquirc immediute paym�nt in full of ull sums secureJ by this Security Instrument if: �
<br /> ;j (i) Ali or part of thc Property, or a bencficial interest in a trust owning all or part of the Property, is sold ar
<br /> • othenvisc transferred(othcr than by devise or dcsccnt)by thc Borrower,und =_-=
<br /> ? �� : (ii) The Property is not occupied by the purchaser or grantee as his or her principal residence, or the -
<br /> purchaser ar g�antee does so occupy the Prc�perty but his or her credit has not been approved in accordance with the �
<br /> requiremants of thc Sccretary. ___—
<br /> " (e)No W�iver.If cirewnstances occur that wcwld permit I.ender to require immediatc payment in full, but L.ender does
<br /> not require such paymcnts, Lcnder docs nul Wuive iIs riehts with respcct to subscauent eventc. 6�-==-
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<br /> (d) Re�ulaNans of HUD Secretney. In many circumstanc:es regulations issued by the Secretary will limit L.ender's �=�
<br /> rights in thc casc of payment dcfaults to rcyuire immediatc payment in full and foreclnse if not paid. This Security �;::
<br /> Instrument does not autliorize acceleration or foreclosure if not pennitted by regulations of the Secretary. ` -
<br /> .. (e) NAortguge Not Insured. Borrower a�rces that shauld this Sewriry Instrument and the Note secured themby not bc ��'���.=
<br /> cligible for insurar..ce under the National Housing Act within 60 days fTOrn the date hercof, Lender mny, at its option "�
<br /> and notwithstanding anythine in �aragraph 9, rcyuirc immediatc paymcnt in full of all sums secured by this Sccurity '
<br /> Instrument. A written statement nt any authorized agent of the Sccretary dated subsequent to 60 days from the date � .
<br /> ' hercof,derlining to insure this Scra�ity Instrumcnt and the Note sccured thereby, shall be deemed conclusive proof of
<br /> such ineligibility. Notwithstanding the forcgoing, this option muy nut bc cxercised by Lender whcn thc unavailability _
<br /> of insurance is solely due to I.ender's failure to rcmit a mortguge insurancr premiurn to the Secretary. ' � -
<br /> l0. Relnstttten►cnt. Borro�vcr has a ri�ht to bc rr,instateJ if L.ender has rcquired immaiiate payment in fuU Ixcausc of
<br /> , Bon•nwer's failure to pay an xmount due under the Note c�r this Security Instrument. This right applies even ufter foreclosure
<br /> „
<br /> proceedings are instituted. To reinstate the Security Instrument, 8ottuwer shaU tender in a lump sum all amounts required to
<br /> bring Barrowcr's account current including, to thc extent they arc obligatiuns of Borrowcr under this Securiry Instrument,
<br /> foreclosure costs :�nd reasonable and rustomary attnrncy�' fccs and cxpenscs properly associated with thc tbreclosurc
<br /> i proceeding. Upon reinstatement by E3orrower, thi,Scruriry Instrumenc and the obligations th:a it secures shall remain in effect
<br /> b� "� as if Lcndcr had not rc uired immcdiatc
<br /> _ y payment in full.H��wcver. Lxndcr is not rcyuired ta permit rcinstatcment if: (i) I,cnder
<br /> ' „ has acrepted reinstatement after thc cummenr.emem �f foreclosure procecdings widiin two yean immediately preceding the
<br /> _ commenrement of a current f'oreclusure proceeding, (ii) reinstatement will preclude foreclusum on Jifferent grounds in the
<br /> , • future,or(iii)reinstatcment will �iJvcrsely aFfcct the priority uf thc licn rrcatcd by this Security Instrumcnt.
<br /> . 1l.Sorrower Nnt Releused;fc►rbearunce By I.ender Not a�1�Aiver.Extension ol'the time of payment or moditicatinn uf I
<br /> ! amortiration of thc sums sccurcd by this Sccuriry Instrumcnt grantcd by L.cndcr tu any wcccssor in intcrc�t of Borrowcr shall
<br /> , not operate to releasc thc li,tbility of the original Borrc,wcr or Bnrro�vcr's su�ressur in intcrest Lender shall not bc rcyuircd tci I
<br /> commcnce proceedings against any surcestior in interest or rrfusc to extend timc for pay�ncnt or othcrwise moJify amortiiation �
<br /> of thc sums sccurcd by this Sccurity Instrumcnt hy rwsun uf any dcman� madr hy thc original Brnrowcr or Borro�scr'ti '
<br /> , successon in interest, Any ti�rbrarancc by LenJcr in exerci,in� any right ar remcdy tihull nut he a waivcr��f ur prcclude thc '
<br /> ,. �� excrcisc��f any right or rcmcdy.
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