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2oiao979s (i) All or part of the Property, or a beneficial interest in a trust owning all or part of the Property, is sold or otherwise transferred (other tk►an by devise or descent), and (ii) The Property is not oc�upied by the purchaser or grantee as his or h�r principal residence, or the purchaser ar grantee does so occupy the Property but his or her eredit has not been approv� in accordance with the requirements of the Secretary. (c) No "Waiver. If circwnstances occur that wonld permit Lender to require immediate payme�nt in full, but Lender does not require such payments, Lender does not waive its rights with respect to subsequent events. (d) Regulatinns af HUD Secretary. In many circumstances regulations issued by the Secretary will limit Lender's rights, in the case of payment defaults, to require immediate payment in full and foreclose if not paid. This Security Instrument does not authorize acceleration or foreclosure if not pennitted by regulations of the Secretary. (e) Mortgage Not Insured. Borrower agrees that if this Se�urity Instrument and the Not� are not determined to be eligible for insurance ueder the National Housing Act withrn 60 day's from the ciate hereof, Lender znay, at its option, require immediate payment in full of a11 sums secured by this Security Instrument. A written statement of any authorized agent of the Secretary dated subsequent to 60 days from the date hereof, declining to insure this Security Instrument and tha Note, shall be deemed conclusive proof of such ineligibility. Notwithstanding the foregoing, this option may not be exercised by Lender when the unavailability of insurance is solely due to Lender's failure to remit a mortgage insurance premium ta the Secretary. 10, Reinstatemen� Borrower has a right to be reinstated if Lender has required irnmediate payment in full because of Borrower's failure to pay an amount due under the Note ar this Security Tnstrument. This right applies even after foreclosure proceedings are instituted. To reinstate the Security instrument, Borrower shall tender in a lump sum all amounts required to bring Borrower's account cuirent including, to the extent they are obligations of Borrower under this Security Instrument, foreclosure costs and reasonable and customary attotx�eys' fees and expenses properly assuciated with the foreclosure proceeding. Upon reinstatement by Bonower, this Se�urity Instrument and the obligations that it secures shall remain in effect as if Lender had not required immediate payrr►ent in full. However, Lender is not required to permit reinstatement if: (i) Lender has accepted reinstatement after the commencement of foreclosure proceedings within two years immediately preceding the cornmencement of a current foreclosure proceeding, (ii) reinstatement will preclude foreclosure on drfferent grounds in the future, or (iii) reinstatement will adversely affect the priority of the Hen created by this Security Tnsmunent. 11. Borrawer Not Released; Forbearance By Lender Not a Waiver. Extension af the tim� of payment or modification of amortization of the sums secured by this Securrty Instrument granted by Lender to any successor in interest of Borrower shall not opet'ate to release the liability of tl�e original Borrower or Borrower's successor in interest. Lender shall not be requrred to commence proceedings against any successar in interest or refuse to extend time for payment or otherwise tnodify amortization of the sums secured by this Security Instrt�nent by reason of any demand made by the original Borrower or Borxower' s successors in interest. Any Forbearance by Lendcr in exercising any right or remedy shall not be a waiver of or preclude the exercise of any rrght or remedy. 12. Successors and Assigns Bound; Joiat and Several Liability; Co-Signers. The covenants and agreements of tivs Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisians of paragraph 9(b). Bonrower's covex'►ants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does not e�ce�ute the Note: (a) is casrgning this Security Instcvment only to rnortgage, grant and convey that Borrower's interest in the Property under the terrr►s of this S�urity Instrurnent; (6) is not personally obligat�d to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terrns of this Security Iustrument or the Note without that Borrower's consent. 2200097304 .{`-,�' D V4NNE Inkiels 1' vMP�)�N�NE� �oao��.oi Page 5 of B 1�1- tiJ. � � . C_