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2Oi�.0238� (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 than by devise or descent), and (ii) The Property is not ocrupied by the putchaser or �rantee as his or her principai residenoe, or the purchaser or grantee does so occupy the Property bat his or her credit has not been approved in aocordance with the requirements of the Secxetazy. (c) No Wauver. If c:ircumstances ocetrr that would pernut Lender to require immediate payment in full, but Lender does not require such payments, Lender does not waive its rights with respect to subsequent events. (d) Regulations of HUD Secretary. In many circumstances regulations issued by the Secretazy will iimit Lender's rights, in the case of payment defaults, to reguire immediate payment ut full and foreclose if nat paid. This Security Instrument does not authorize acceleration or foreclosure if not permitted by regulations of the Secretazy. (e) Mortgage Not �nsured. Borrower agrees that if this Security Instrument and the Note are not determined to be eligible for insurance under the National Housirig Act within 60 days from the date hereof, I.ender may, at its option, require immediate pas+ment in futl of ail sums secured by this Security Instrument. A written statement of any autho�ized agent of the Seeretary dated subsequent to GO days from the date herenf, declining to insure this Security Instrument and the Note, shall be deemed canclusive proof of such ineligibility. Notwithstanding the foregoing, this option may not be exercised by Lender when the unavailability af insurance is soleiy due to Lender's failure to remit a mortgage insurance premium to the Seeretary. 10. Reinstatemen� Bonower has a right to be reinstated if Lender has r�quired immediate payment in full because of Borrower's failure to pay an amount due under the Note or this Securzty Insuument. This right applies even after foreclosure proccedings aze insdtuted, To reinstate the Security Instrument, Borrower sha12 tender in a lump sum all amounts required to bring Borrower's aa:ount curcent including, fo tbe extent they are obligations of Borrower under this Security Instrument, foreclosure casts and reasonable and customary attorneys' fees and expenses properly associated with the foreclosure proceediag. Upon reinstatement by Bonower, this Security Instrument and the obligations that it secures shall remain in effe�t as if I.ender had not required immediate payment ia full. However, I,en@er is not required to permit reinstatement if: (i) Lender has accepted reainstatement after th.e commencement of foreclosure proceedings within two years iaunediately preceding the rommencement of a current fareclasute proceeding, (ii) reinstatement wiil preclude foreclasure on different grounds in the future, ar (iii) reinstatement wili adversely affect the priority of the lien. created by this Security Instrument. 11. Borrower Not Released; Fort�earance By Lender Not a Waiver. Extension of the time of payment or modi5cation of amortization of the sums secured by this Securiry Insirument granted by Lender to any suocessor in interest of Borrower shall not operate to release the liability of the originai Borrower or Borrower's successor in interest. Lender shall not be required to commence proceedings against any suc�essor in interest or refuse 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 original Borrower or Borrower's s�cc�ssors in interest, Ariy forbearance by Lender in exercising any right or rsmedy shall not be a waiver of or preclude the exercise of any right or remedy. 12. Sncr.essors and Assigns Bound; Joint an�d Sevexal Liability; Co-Signers. The covenants and agreements of this Securiry Instn�ment shall bind and benefit the successors and assigns of L,ender and $orrower, subject tu tbe provisions of paragraph 9{b). Borrower's oovenants aad agreements shall be joint and several. Any Bonower who co-signs this Security Insttument but does not execvte the Nute: (a) is co-signing this Security Instrument only to mottgaSe, grant and convey that Borrower's interest in the Property under the terms of this Security Iastrumeni; {b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to egtend, modify, forbear or make any accommodations� with regard �to the terms of this Security Instrument or the Note without that Borrower's consent. — ��-000031 �nitids: �-4N(NE? {04Q7j Pege 5 of 8