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<br /> �� � refcrred to in para�ruph 2, or changc thc amount of such paymcnts. Any cxce.ss procecds ovcr an umuunt rcquirccl to pny ul{ K-'��'.`��'�'�"''�`'`
<br />- '. outstanding indcbtedne;s uRder the N�te and this Security Instn►ment shall be puid to thc entity legully entiticd thereto. �'rt• �"'`�°`��u-`=
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<br /> �� 8.Cees. Lender may c�llect fees and churges autho:izec!by the Secretary. '��.,�.-•»r,.�._..,_ .�,e,
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<br /> 9.Groun�is fur�►ccelrrallon of Debi. °1'��- �Y
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<br /> ". (n) Defae�it. I.endcr may, exccpt as limitcd by rc�ulations issued by the Secretary in tl�c case of payment defaults, = .•��:�•K,,.-�_,__.
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<br /> require imme�fate payment in full of all sums secured by this Security ]nstrument if: , >„-��*:'-"'��-"
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<br /> (i)Borrower defat►Its by faili�g to pay in full nny monthly payment required by this Security Instrument prior to or �. y,�+�� �
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<br /> , . on the due date of the next monthly payment,or :;�ln:,.,._�_;.�___��..�-:
<br /> , (ii) Borrower defaults by failing, for a period of thirty days, to perform any other ubligations containcd in this ��===y �
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<br /> „ (6) S�le Wlthout Cred[t Approval. Lendcr shall, if permitted by applicable law and with the prior approval of thc ,.�=%���--°-===
<br /> Sccretary.require immediate payment in full of all sums secured by this Sewrity instrument if: ' �,� �-�
<br /> . (i) All ar part of the Property, ar a bcneficial interest in a trust owning aA or purt of the Propeny, is sald or �=��';u-�,=.:-- -
<br /> . � „ othcrwise transferred(other thun by devise ardesccnt)by the Borcower, and ��'�:�-¢.,,��_
<br /> . (ii) The Proper[y is not occupied by the purchaser or grantee as his or her principul residence, or the ' ., �:���==-
<br /> purchdser or grantee does so occupy the Property but his or her credit has not been approved in accordanee with the " ';a:�F�`:-
<br /> , , „ requirem:.nts of the Sec:retury. _ ��'�'�"
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<br /> (c)No W�tiver.If circumstances occur that would permit Lender to require immediate payment in full, but I.ender does �� :;;"�-�'�
<br /> not require such payments,Lender docs not waivc its rights with respecc to subsequent events. r�
<br /> -� (d) Regmlattons of[�UD Secretury. In many circumstunces rcgulations issued by the Secretary wiU limit Lender's , f� •�
<br /> rights in the ca�e of payment defaults to require immediate payment in full and foreclose if not paid. This Securiry +
<br /> Instrument does not authorize acceleration or toreclosurc if not permitted by re�ulations of the Secretary.
<br /> (e)IVlartgage Nut Insured.Borrower agrees that should this Securiry fnstrument and the Note secured thereby not be �.,����� .y n�
<br /> , � eligible for insurance under the h`ational Housing Act within 60 days from the date hereof, Lender mny, at its optian +
<br /> snd �iotwithstanding anything in paragraph 9, require immediaie payment in full of all sums secured by this Security
<br /> Instrument. A written s[atement of any authorizcd agent of the Secretary dated subscquent ta 60 days from the date '. �`:�'
<br /> hereof,declinin� t�insure this Sccurity[nctrument and the Note secured thereby,shall be deemed conclusive proof of '•'� �
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<br /> such incligibility. Nohvithstanding the foregoing, this option may not be exercised by Lxnder when the unavuilability ��' .
<br /> of insurance is solely due to Lender's failure to remit a moitaage insurancc premium to the Serretary. � ,
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<br /> 10. Reinstatement. Borrowe� has a right to be reinstated if L.ender has reyuired immecliate payment in full because of � � �,'�y=�==-
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<br /> -, Borrawer's failure ro pay an umount duc under the Note or this Security Instrument. This right �ipplies even after foreclosure . �:---
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<br /> • proceedings arc institutcd. To reinst.�te thc Sccurity Instrument. Borrou•cr�hall tcndcr in a lump sum all xmounts rrquired to , �
<br /> .' brin� Borrower's account current including, to the extent they arc obligations of Borrower uncler this Security Instrument. � �:•
<br /> ,.} , forcclosure costs and re:tsonable �utd customary attorneys' fees and expenses properly associatcd with the forcclosure `�'s
<br /> . proceeding. Upon reinstatement by Rorrower. this Security Instrument and thc obligations that it serures shall remain in effect ', c�''
<br /> , as if Lender had not required immediatc payment in full.Howcver,Lender is nat required to permit reinstatemcnt if: (i) Lender "
<br /> has accepted reinstatement after the rommencement of forcclosure prixeedings within two years immediately pre:ceding the f'
<br /> cammencement of a current foreclosure proceeding. (ii) reinstatement will Freclude forcclosure on differcnt grounds in the ��`'
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<br /> future,or(iii)reinstatement wiU ad��ersely affect thc priority uf the lien crested by this Sewriry Instrument. •
<br />` 11.Borrotiver Not Released: Forbe:irance By Lender Nnt u �Vz�ir•er. Gxtension of'the time of payment u►•modificatiun af r `� •
<br /> � amortization of the sums tiecured by this Scrurity lnstrument granted by Lendcr to any succcssor in intcrest ut�Borrower shall
<br /> not operate to rcle:ue the liability ot the original k3ormwer ur E3orrower's successor in interest. L.ender tihall not be reyuired to
<br /> � commence proce��ings against any sucressor in interest ur refu�c tu zxtcn�i timc li�r paymcnt or othr.rwise modify amortiz:ition �
<br /> 5 . of thc sums sccurcd by this Sccuriry Instrumcnt by rcason of any Jcmntxl madc by thc uriginal Borrowcr or Aorrowcr's �
<br /> • ' successon in interest. Any forbearance by I.rnder in exerrisin� any right ar rCnt�dy shall nol bc a waiver uf or precluJ�the �
<br /> , � cxcrcisc of:my right or remctiiy. �
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