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<br /> (i)All or purt af the Prc�perty,or u bencCtcial interest in u trust���vning;dl ur pw•t uf thc Pr«perty, is suld
<br /> or othenvisc transf�rrcd (oQicr lhau by dcvi�c c�r dcscenU, und
<br /> �►ii 'i'I�c Prunertv is not uc�upicil by Ihe purchus�r or �riintee ati hiti nr her principul residence, ���•�thc
<br /> purchi�scr or grimtac docs so occupy thc Property but liis un c�r crcuit nas nu► bccn uPP��'��u "'
<br /> nccordancc with thr. requirctnents of titc Sccrctary.
<br /> (c)No Wnlver. if cirrumstances occur thAt�vould pennit Lendcr to rcquirc inimediate puymcnt in 1'ull, but
<br /> Lendcr dc>cs not rcquire such payments,Lendcr docs nn[�vnivc its rights with respcct to subscqucnt evcnts. _
<br /> (d) Regulutlons of H`JD Secretnry. In many circumstances regulution+ issued by the Socretary will limit
<br /> Lendc,r's rights, in �he case of puynicnt dcfaults, to rcquirc immediute payment in full and forcelusc iF nat
<br /> paid: This Security In�t�w�ient does nat authorize scceleration or foreclosarre if nnt permitted by reFulations ,
<br /> of the Sccrctary.
<br /> (c)Mort�age Not Insured.Borrower agrces that if this Security Ir.strununt und thc Notc arc nat detcrmined
<br /> to bc cligible for insurnnce undcr the National Housing Act �vithin GO days from the datc liercof. Lender
<br /> muy, at its option, requirc immedtatc ps►yment in full of ull sums securcd by this Security Instrumcnt. A
<br /> �vritten statemcnt af any authorizcd agent of the Secretary dated subsequcnt to GO days from the date hcrcof,
<br /> declining to insure this Security Instrument nud the Note, sl�t►II be decmcd conclusive ptaoP of' such
<br /> ineligibility. Notwithstanding the forcgoing, this option may not be exercisc.�i by L.endcr wlien the
<br /> unavailability of insurance is solely duc to Lender's failure to rcmit a martgage insw•ancc prcmium to thc
<br /> Secretary.
<br /> 10. Reiustatemcnt. Borrowcr has a right to be reinstatcd if Lendcr h�s required immediate payment in full
<br /> bccause of Borrowcr's fnilure to pay an amount due under thc Note nr this Sccurity Instrument. This right upplics
<br /> even nRcr fareclosm•e procccdings ore institutetl. To rcinstate thc Security Instrument, Borrower shall tendcr in a
<br /> Imnp sunt all �mounts required to bring Aorrower's account current including, to[he extent they nre obligations of
<br /> Borrower under this Security Instrument,foreclosure costs and reasanable and cuseomnry nttorncys' fees and expcnses
<br /> properly associuted with the foreclosure proceeciing. Upon reinstatcment by Borro�ver, diis Sccurity Instrument and
<br /> the abligations that it secures si►all remain in effect as if Lender had not required inimedinte payment in full.
<br /> Howcver. Lender is not required to permtt ►'cinstatement it: ii} i..c���e� �:� ar:e�s�! *ellLt�tP�nrnt ;ifter ihe
<br /> commencement of foreclosure proceedings within tao years immediacely�prececfing the commencement of a current
<br /> foreclosure proceeding, (ii) reinstatement will preclude foreclosure on different grounds in the future, or (iii)
<br /> reinstntemcnt will adversely nffect the priority of the lien crcated by this Sczurity Instrumcnt.
<br /> 11. Borrower Not Relcased; Forbearunce By i.ender Not a Wnlver. �xtension �f thc timc of payment or
<br /> modification of amortiz�tion of tne sums secured by this Security Instrument granted by L.ender to any succ:essor in
<br /> intcrest of Horrowcr shull not operate to release thc liability of the original Borrower or Borrower's succcssor in
<br /> interest. i.ender shall not be required eo commence proceedings against any successor in interest or refuse to extend
<br /> • time for payment or otlter�visc modi(y mnortiz;►tion of thc sums secured by this Security Instrument by reasun of any
<br /> demand made by the ori�inel Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising
<br /> • any risht os remedy stiall not be a waiver of or prcclude tlie excrcise of any riglu or remedy.
<br /> 12.Successors and Assigns I�ound;Jo(nt m�d Severnl L,tubllity;Co-Signers. The covenants and .►grecmcnts
<br /> of this Security instrumcnt shall bind and benefit the successors and assigns of L.endcr and Borrower,subjcct to the
<br /> provisicns of paragrapl�9(b). Bonowcr's cuvenants and ugreements shull be joint and scveral. Any Borrawer who
<br /> cd-signs this Security Instrument but docs not exccute the Notc: (a) is co-signing this Security Instrurrient only to
<br /> mongage,grant nnd conuey that Borrower's interest in the Property undcr thc tenns of this Scc:urity Instrument; (b)
<br /> is not , �nally oblibated tn pay the sums sccurcd by diis Sccurity Inctrument; and{c)t►�rces that I.cnder��nd ainy
<br /> other Borruwer iu:ry.�g�r.c tu e�t..�d, ma�:Fy,fur�;.�r or sita.ke uny a.cc�?!�m��:ainnc wiih reeard to ths terms of this _
<br /> Security instrument or the IVote without that Borrower's consent.
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