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20o9o72ss (i) A]] or part of'the 1?r'operty, or a beneficial :interest iu a trust owuitig all or part of the Property, is sold or otherwise tran.~+ferred (othe.r than by devise nr descent), and (ii) The Property :is not occupied by dre purchaser oz grantee as .iris or her principal residence, ur the purchaser or grantee does so occupy the 1'ropeity but his or her credit liras mot been approved in acuurdauce wi[]t the requirements of the Secretary. (c) No Waiver. if cirr;uurtiWuces occur that would perurit Lender to require iiuuiediate payirzteut in full, but Lender dues out require Such payruents, Lender does Wok waive its rights ~vidr respect to subsequent events. (d) Regulations of IIU17 Secretary. In tizauy circunistatices regulations issued by the 5ect'etary will lirziit Lender's rights, in the case of payment defatilts, tp require itrut-ediate payttient irr full and fizroclose if not paid. This Security Iirtitruurent does ii0t audrorize acceleratietn nr liueclosure if not permitted by regulations of the Secretary. (e) mortgage Nat Insured. I3urruwe:r agrees that if this Security Instruiitetit attd the Note are not detertitiired to be eligible for irisurauce under the Natiur>itl llousirrg Act widiiu 60 days from dre date hereof, Lender rnay, at ir`s option, require irzunediate payment in full of all sun4ti secured by this Security Iutitrunrent. A writtetr statetnatrt of any audrarizeci agent of dre Secretary dated sub~quetzt to 6Q days front the date hereof, dcclinittg ur itzsui'e this Security Iustrutrient and die 'Note, shall. be deemed conclusive proof of such ineligibility. Notwithstanding dre foregoing, this option Wray not bc; exercised by Lender when. Cbe urra~•:ulability of iusurar~e .is solely due to I..ender's failure to remit a mortgage itrsurance pretrrium to the 5ecret~rry. I0. Reitistaternerrt. florrowcr leas a right to be reinstated if Lender. ltas required immediate payment in full beuauae of Borru~ver"s failure to pay an anwunt dtre under dre Note or this Security lnstntment. This t7ght applies evert after fuicclusure proceedings are .itrsti.ttrtcd. To reinstate the Security instrument, 13arrower shall tender in a lunap suer all uuiotints required to bring Barro~vcr's account current including, to dre e.xtexit drey are obligations of Burro~4er uudct: this Security Itzstiu:uiexit, fcireclGSUre rusts and reasuriable and custotuaty attorneys' fees a,nd expenses prciperly associated with tyre turr:e:losuxe proceeding. lJpon reinstatement by Borrowzr, this Security lustruurent and diZ ubligatiurrs that it securer shall remain in effect as if ,Lender had not required irrunediate payment in full. );Iu~+'ever, Lender is not required to permit reiastatentettt if: (i) Lender has acc~-pted reinstatunreut after the c:aurruerrceuteut of lirrec:losure proceedings within two years iuiuiediately preceding rite commencement of a current fcu'cclasure proceeding., (ia) rein, tatentetit will. preclude furec;lusure on different gruutids in the fiititre, or (iii) xcizrstateurent wilt adversely affi:ci rite priority of the lieu. created by this Security Irrstruureut. 11. Borrower Not Released; Forbearance By Lender Not a Waiver. PxtensiQn of dre tune of payment or zitudifr4atiuu oi~ aniurtization of t}re sums secured. by this 5eutirity Irr~titruruent granted by Lender to any successor in interest of 13prrowcr shall not operate w release rite liability of the urigirtal Burrower or Borrower's successor in interest. 1',ender Shall oat be required to corrutrezrce proceedings alaiirst any successor iri interest or refuse to exteztd tirrte frir payu.rent or otherwisi; nwdity an'iortization of dre sums secured by this 5ecnrity Instrument by reason of any deuiarrd irrade by dre original Burrower rrr Borrower's successors in interest. Any forbearance by Leander in exexcis`irzg any right rrr reined}> shall out be a waiver of or preclude the exercise of any right or remedy. 12. Succescars arrd Assil;iis Bound; :)pint and Several Liability; Co-Signers. The cot~ertarnc~ and agreetnerrth of this Security lirstruruent Shall bind and benefit the successors and assigns of l..ender and $orruwer, subject to dre provisiutt,~ of paragr:apli 9(b). Borrower's cuveuants and ag.reeunents shall be joint and several. Arty Borrower who cu-aigua this Sei:uiity Itrtitruuieut but does nut execute the Note: (a) is cn-signing this Security Instrument Drily to ruurtgagc, grant and convey that Borrower's interest in ttre Property under lire rertir5 of this Se4ttrity lnstruntE:nt; (b) is out per:;ur>irlty obligated to pay the suu>.ti set:ured by this Security Itrsutirtient; and (c) agrees that Gender and any other Burrower rrray agrcC to extend, urudify, forbear or make any accatiuuudations with regard Eo dre terms of this Security Irtstruurert[ ox lire Note without that Burruw•er's consent. ®~RINE) laeo~~ Ned a o~ a ~~~~a~~:~`