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200207163 (i) All or par( of the Property, or a beneficial interest in a trust owning all or part of the Property, Is sold or oilorwlsc transferred (other than by devise or descloo, and (if) the Property is not occupied by the purchaser or grunter as his or her principal residence, or the purchaser or graphic does so occupy the Property but his or her credit has not beat approved in wNam;e with the requirements of the Secretary. be) No Waiver. If cusnull ianccs occur that would permit Lender to require immediate payment in full, but Leader dues not require such payments, Lender does not waive Its rights with respect to subsequent events. (d) Regulations of HIM Secretary. In more circumstances regulations issued by the Secretary will limit Lender's rights, In the case of payment defaults, to require immediate payment in full and foreclose if not paid. This Swudty Instrument does not authorize acceleration or foreclosure if not permitted by regulations of the Scestary. fe) Mortgage Not Insured. Borrower agrees that if this Security Instrument and the Nom arc not dcmnnined to be eligible for in. surance under die National Housing Act within 6C days from the date hereof. Lender nay, at its option, require immediate payment in full of ell sums Insured by this Security Instrument. A vrittcn statement of may authorized agent of the Secretary dated subsequent to 60 days from the date hereof, declining to insure this Security Instrument acid the Note, shall be deemed conclusive proof of such ineligibility. Notwithstanding the foregoing, this option may not be exercised by Lender when the unavailability of insurance Is solely due to Leder's failure to romp a mortgage insurance premium to the Secretary _ [B. Reinstatement. Borrower has a Fight m be reinstated If Lender has required immediate payment in full because of Borrower s failure to pay an amount clue under the Note or this Security Instrument. This right applies eve n after foreclosure proceedings am instituted. To reinstate the Security Instrument, Borrower shall lender In lump sum all amounts required to bring Borower's noromt curet mduding, to the extent they are obligations of Borriever under this Security Ills( runicnt, foreclosure coats had aeuuonnble and customary attorneys fees and expenses property associated with the foreclosure pmtaeding. I pon reinstatement by Borrower, this Security Instrument mid the obligations that it secures .shall remain in effect as if Lender had not required immediate payment in full. However, Lender is not required to pinmlt reinstatement It: (i) Lender has accepted renorneraten alter the ,mininsocaseat of foreclosure proceedings within two years In ncd'mtch preceding the commencement of a current fincoosurc marauding, (it) minetateileat will Preehadc foreclosure on differar grounds in ilia finite, or (iii) reinstatement will advcrscly affect the priority Of file lien created by this Security Instrument_ I1. Borrower Not Released; Forbearance By Lender Nut a Waiver. Ixttionon of the time of payment or modification of nmorization of the sums secured by this Security Inoumcnt named by Lender to my successor it interest of Borrower shall not Operate to release the liability of the original Borrower Or Borrower's successor ccccor in interest. Lender shall not be required to continence preadarags against any successor in Interest or refuse m extend time for payment or otherwise modify amortization of the suana secured by this Security Inswnican by reason of my demand made by the original Borrower or Borrower's successors in interest Any forbearance by Lcndcr In exercising any right or remaly shall not be a waiver of or preclude the exercise of any right or remedy_ 12. Successors and Assigns Bound; .mint and Several Liability; Co- Signers. The wvenams and agreements of (his Security Instrument shall bind had benefit (lie successors and assigns of Lender and Borrower, subject to the provisions of paragraph 9(h)_ Borrower covenants and agreements shall bejelnt and several. Any Borrower who To stairs this Seamus Instrument but does amt execute the Note (a) is co signing this Security Instrument only to mortgage, grant acid convey that Borrower's interest in the Prieto) under the terms of this Security Instrument; (b) is not personally ohheated to pay the sums secured by this Security Instrument; and (c) agrees that Lender still any other Borrower may agree to extend, modify, tabour or male may accommodations with regard to the terms of this sec rity Imtrument or the Note without that Borrowers consent (M,��" ,)'V. 'KN M4NINEI mecca tau ore „„ xi l C