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<br /> rcfcrrcd t��in pamgrapli 1. ur rhungc thc nnuiunt i�f such paym�nts. Any cxccs�. pmrccds ovcr an umount rcyuired ro pay cdl
<br /> outtiton�ling u►dchtcdnctis undcr�tic Not�nnd ihf,Sccui Ry li�st�imc�it shnll bc paid tc�thc cnt;ty Icb:►ily cntitlec!tt�ereto.
<br /> 8.Fccv. IAndcr ntuy cuIl�:Li fi:c�iunl rhur�cs uudr��rind by thc 5ccrcuiry.
<br /> 9.(.ronnd�Eur�lccclet��tinn aF Ikht.
<br /> (s►) Uetault. Lend��r mny. cxccpt us limitcd Uy rcgulations issucd by thc Sccretury in the case of payment dcfuuits,
<br /> rcyuirc immatintc paymcnt in Pull of ull tiums sccurcd by this Sccurity Instnimcnt if:
<br /> (i>Borrowcr defnultti by failing to p:►y iu full uny monthly payment required by this Security Instrument prior to or
<br /> on thc dur,dntc of�ha next monthly paymcnt,or
<br /> (ii) I3urrowcr defnults by failing. for a period of thiny dnys, to perform any other abligations contained in this
<br /> Security Instrument.
<br /> (b)Sale Wlthot�t Credit Apnrovul. L.endcr shall, if ptirniitted by applicabie law and with the prior approvnl of the
<br /> Secretary,requirc imme�iiuto payment in fuU of ull sums secured by this Security Instrument if:
<br /> (i) All or part of tho Property, ur a benefictal interest in a teust ownin� all or part of the Property, is sold or
<br /> utherwisc�r�ansfCre�l iutlte►��hun by devise nr descent)by thc Barrowcr,and
<br /> (ii) The Pruperty is not occupied by the purchaser or grantee as his ur her p�rin:ipal residence, or the
<br /> purchnscr or grantee does so occupy the Property but his or her credit has not been approvec]in accordance with thc
<br /> requirements of the Secretary.
<br /> (c)No Wnlver.If circumstances occur tliat would permit Lender to require immediate payment in full,but Lender does
<br /> not require such payments,Lender ducs not wnive its rights with respect to subsequent events.
<br /> (d) Regalattons of HUD Secretary. In muny circumstances regulations issued by the Secretary will limit Lender's
<br /> rights in the cuse of payment defuults to requi��e immedinte payment in full and foreclose if not priid. This Security
<br /> Instrument daes not authorize acceleration or foreclosure if not perreiitted by regulations of the Secretary.
<br /> (e)Mortgage Noi Insured.Horrower agrees that should this Secusity lnstrument and the Note secure,ci thereby not be
<br /> cligible for lnsurancr under the Nationul Housin�Act�vithin 60 days from the dAte hereof, Lender may, at its option
<br /> and notwithstunding anything in paragraph 9, reywire immediate payment in full of all smns secured by this Securiry
<br /> Instrument. A written statsment of any authorized Agent of the Secretary dated subsequent to 60 days from the date
<br /> hereof,declining to insure this Security Instrument und the Note secured thereby, shall be deemed conclusive praof of
<br /> such ineligibility. Notwithstnnding the fore�oing, this option may not be exercised by Lender when the unavailability
<br /> of insurance is solely due to Lender's failurc to remit a mortga�e insurance premium to the Secretary.
<br /> 10. Reinstatement. Borrower has a right to be reinstated if Lender has required immediute payment in full because of
<br /> Borrower's fuilure to pay an amount due under ehe Note or this Security Instn�ment. This right applies even ufter foreclosure
<br /> proceedings arc instituted. 'Co reinstate the Security Inssrument, Borrower shall tender in a lump sum all amounts required to
<br /> b,i�g Ba�rower's ac.cou�t cuna��i includ{ng, to the c�:cm the� are oblig�iions of Eo;rower ur.der this Securlry Instrument,
<br /> • F�..a,.l,,,��. ���.� „�,3 ,��„�,�t��� .�nil ���ctmm�rv �rt.vvn.�..c• FPPC ar�d rxnPn�ec �rnnrrly ncc�c�atexl with die fot�closUre
<br /> pro.:eeding, Upon rcinstatement by Borrowcr,this Security+Instrument and thc obligaYions diat it secures shall remain in effect
<br /> us if Lendcr hud not rcquired immcdiate paymenc in full. However,Lender is not reyuirecl to permIt ceiustateinent if: (i)I..ender
<br /> has uccepted reinstatement nfter the commencement of foreclosure pra+e.edings within two years immediately preceding the
<br /> comuierecenient�f a current foreclosur�proceeding. (ii) reinstatement�ti�l! preclude foreclosure on different grounds in the
<br /> future,or(iii)reinstutement wil!adversely affect the priority of the lien created by this Secudty Instrument.
<br /> 11. Borrower Not Released;Forbearance By Lender Not a Waiver. Extension of the time of payment or modiTication of
<br /> amortization of the sums sccureci by this Securiey Instrument granted by Lender to any successor in interest of Borrower stiall
<br /> ; not operate to release the liability of the original Borrower or Horrower's successor in interest. Lender shall not be required to
<br /> ; commence pmceedings against any successar in interest or refuse to extend time for payment or otherwise modify amortization
<br /> .; of thc sums secured by this Security Instrument by rcasnn of any demand mude by the original Borrower or Borrower's
<br /> � successors in intercst. Any forbearunce by Lender in exerrising any right or remedy shall not be a waiver of or pri:clude the
<br /> exercise of•�:ny right or remedy.
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