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<br /> (i)All or part uf dtc Property, or i►bencliclul�ntcrest io n trust c�wnin�;idl or part of'ihc Prrmcrty. iti sald —
<br /> ii:�othcrwisc transPtrr�d (othcr tiwn by dcvisc ar derccnt),und
<br /> (ii)Thc Prancrty Is nut occupicd by qic purcliusar or grc+ntcc us I�is un c�r prfi�cipnl resiJcncc, ar thc
<br /> purchciser or grnntee does so occupy the Property btrt his ��r I�cr creJit hati not been c�pprnved in
<br /> uccurduncc:witli the rcquircments of thc Secr�tary. �-
<br /> <<; `:�:a„�:. :::;���:.;;w::;:°.�'!r!�,�!r wm�ld nermit Lendcr to requirc inunedintc payencnt in Pu11, but
<br /> Lencler docs not require such payments,Lender does not wuive its riFhts with respect co subticyu�ou cvi:nts.
<br /> (d) Regu�att�ns of HUD Secretary. !n many circumstances rcguli►tions issucd by dic Sccrctnry will Iimit
<br /> Lender's rights, in the cnsc of paymcnt defuults, to rcquirc immediutc puymcnt in full and fnreclosc if nat
<br /> paid. This Securiry Instrument daes not autharir.e ucccicraticm or fnrcclosurc if not permitted by rcgulations
<br /> of thc Sccrct�►ry. •
<br /> (e)Nfarigaqe Not Insured. Borro�ver agrecs that if this Securiry Instrumcnt and tlic Notc are not dctcrmincd
<br /> ta bc eligible for insuuince under the Nntiannl Housing Act within 60 ilay, frum the datc hcrcof. Lender
<br /> may, at its option, ecquire immediate payment in full af ul1 sums secured by this Sccurity Instrument. A
<br /> �:�ritten ststemetit of any n!!rhnri�c�i necnt of thc Secretarv duted subscquent to 60 days from the dntc S�creof,
<br /> declining to insure this Security Insuument nnd the Note, shull be deemed concluslve proof ot� such
<br /> ineligibility. Notwithstundin� the forcgoing, this opiion may not be exercised by Lender when thc
<br /> unavailability of insurance is solely due to i.ender's fuilw�e t�� remit a mortgagc insurance prernium to the -
<br /> Secretary.
<br /> 10. Refnststtement. Borrower has u right to be reinstated if l,endcr lias rcquired immcdiate payment in full
<br /> because of Horrower's failure to pay an umount due under tlie Note or this Suu•rity Instrument. This right applics
<br /> even aftcr forcclosure proceedings arc instituted. To reinstate tt�e Security Instrument, Borrowcr shall tcnder in n
<br /> lump sum feU amounts requirt;d to bring Borrower's account current including, to the extent they are obligations of
<br /> Borrower under this Security Instrument,foreclosure costs und reasonable und customary attorneys' fees and expenses
<br /> praperly associated�vith thc foreclosure proceeding. Upon reinstatement by Horrower,this Security Instrument and
<br /> the ablifiations thnt it secures st�all remuin in effect as if I.ender had not rcquired imnaediate payment in full.
<br /> However, Lender is not required to permit reinstatement if: (i) Lender has ucce�icd reinstatement aftcr thc
<br /> commencement of foreclosure�roceedings within two years immediately preceding the commencement of a current
<br /> foreclosure proceeding, (ii) reinstatemens wiii prec:tuu� fu�u:i�,u�c �r� uiff��:.rt g::3uad� in !h�fst;s:�. �� ;i'::;
<br /> reinstatemcnt will adversely affect the priority af the lien creatcd by this Security Instrument.
<br /> 11. Borrower Not Released; Forbearance liy Lender Not a Walver. Extensian of the timc of paymcnt or
<br /> modification of�►mortizatian of the surns secured by this Security In,trument granted by I.ender to wiy successor in
<br /> interest of Borrower shall not aperate to rele�se the liability of the original Borrower or Borrowcr's succcssor in
<br /> interest. Lender shall not be required to commence proceedinbs against any successor in interest or refi�se to extend
<br /> time for payment or otlierwise madify amortizntion of tl�e sums secured by this Securtty Instrument by reason of any
<br /> demand made by the original Bonower or Burrower's successors in interest.Any forbenrance by Lender in exercising
<br /> nny right or remedy shall not be a waiver of or preclude the exercise of any right or remuiy.
<br /> 12.Saccessc►rs and Asslgns Dound;Joint and Several Liabflity;Co-Signers. The covennnts ancl ugreements
<br /> of this Sec�urity Instrument shsll b6nd und benefit the successors and assi�ns of C.end�:and Borrower,subject to tlie
<br /> provisions of paragruph 9(b). Borro�vcr's covenants and agreements shall be joint and sevcral. Any Sarrowet who
<br /> co-signs this Security instrument but does not execute ti�e Note: (a) is co-signing this Security Ins�rument only to
<br /> mortgage,grant and convey th�t Borrower's interest in the Property under the terms of ehis Seeurity[nstrumcnt: tb)
<br /> is not personally obligated to pay the sums secureci by this 5ecurity Inst►vment; and (e) agrees lhat Les�der and any
<br /> other Borrower mny ngree to extend,modisy, forbear or make any accommodations�vith rcgard to the tcrms af this
<br /> Security Instrument or the Note witliout that Borrower's consent.
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