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�o�oossi4 (i) All or part of the Froperty, or a bcneficial int�r�st in a trust owning all ar part of the Prop�rty, is sold or otherwise transferred (other than by devise or descent), and (ii) Thc Property is not occupied by the purchaser or grantee as his on c�r principal residence, or the purchascr or grantee does sa occupy the Property but his ar her credit has not becn approved in accordance with tha requirements of the Secretary. (c) Nc► Waiver. If circumstances accur that would permit Lender to require immediate payment in full, but Lender does not requice such payments, Lender does not waive its rights with respect to subsequent events. (d) Regulations of HUD Secretary. In many circumstances regulatians issued by the Secretary will limit Lender's rights, in the case of paymcnt defaults, to require immediate payment in full and foreclose if nat paid. This Security Ynstrument does nat authorizc accelcration or foreclasure if not p�rmitied by regulatians af the Secretary. (e) Mortgagc Not Insured. Borrower agrees that if this Security Instrument and the Note are not determined to be eligible for insurance under the National Housing Act within 6U days from the date hereaf, Lender may, ai its optian, require immediate payment in full af all sums secured by this Security Instrument. A written statement of any authorized agent of the Sccretary dated subsequent to 60 days frorn the date hereaf, declinin� to insure this Security Instrument and the Nate, shall be deemed canclusive proof of such ineligibility. Natwithstanding the foregoing, this aption may not be exercised by Lender when the unavailability of insurance is solely due to Lender's failure ta remit a mortgage insurance premium to the Secretary. 10. Reinstatement. Borrower has a right ta be reinscated if I�ender has required immediate paymont in full because af' Barrower's failure ta pay an amount due under the Nate or this Security Instrument. This right applies even aftcr foreclosure praceedings are instituted. To reinstate the Security Instrument, Borrower shall tender in a lump sum all amaunts required to bring Borrower's account current including, to the extent they are obligations af Borrower under this Securiry Instrum�nt, foreclosure costs and reasanable and custamary attorneys' fees and expenscs properly associated with the foreclasure praceeding. Upon reinstatement by Borrower, this Securiry Instrument and th� obligations that it secures shall remain in effect as if Lendar had not required immediate payment in full. However, Lender is not required to permit reinstaternent if: (i) Lcnder has accepted reinstatement after the commencement of fareclosure proceedings within two years immediately preceding the commencement af a current foreclasure proceeding, (ii) reinstatement will preclude foreclosure on different grounds in the future, or (iii) reinstatement will adversely affect the priority nf the lien created by this Security Instrument. 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extensian af thc time of payment or modification of amortization of the sums secured by this Security Instrument granted by Lender io any successor in interest of Borrower shall not operate to release the liability of the original Bcarrower or F3orrower's successor in interest. Lender shall not be required to commence praceedings against any successar in interest or refusc to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of� any demand made by the ori�inal Borrower or Borrower's successors in interest. Any forbearance by I,ender in excrcising any right or rernedy shall not be a waiver of or preclude the exercise of any right or remedy. 1Z. Successors and Assigns Bouncl; Joint and Several Liabiliky; Co-Signers. The covenants and agreemcnts af this 5ecurity Instrument shall bind and benefit the successors and assigns of Lender and Borrawer, subject to the provisions of paza�raph 9(b). Borrower's covenants and agreernents shall be joint and several. Any Borrower who ca-signs this Security Instrument but daes not executc the Note: (a) is cowsigning this Security Instrument only to rnortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrces that Lender and any other Borrawer may agree to extend, modify, farbear or maka any accommodations with regard ta the terms of this 5ecurity Instrument ar the Note without that Borrower' s consent, �3sin�,�9z� i�� g: �-4N�NE) �oao�� aeaa s or a