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�:� _i��: (i) All. or part of the Propesiy, or a beneficial intetest in a trust ow.ning all or gart of the Proge�rhy, ie sold or othera�ise ixansfexr� (other than by devxse or desce�.t), and (ii} The Property is not occupied by the purchaser or gtantae as his or her grincipa,t seaideace, or the pvzc�zaser or grantee does so occupy the Properiy but his oz hex credit has not been approved itt accordaace with the requirements of the S�retary. {c) No Waivet. If cvrcumstances occur t�at would pernnit Lendez to reg,uire immediategayment ia fa1t, but Lender does not require such paynaents, Lender does not waive tts rights rwith. respect to subseqnent events. (d) Regniations of HUD Sectet�ry. In maay circumsta.ACes regulabions issued by the Secxetary will timit L�nder's zights, in. the case of payment defaul#a, to require imm�iate payment in full aad for�lose if not paid. Tlais Security Tnshument does not avthozize accelezation oz foxeclosura if nat permitted by regulatians of the Secret�ry. (e) Mortgage Not Insured. Borzower agzees that if this S�urity Instruwient and the Note are not determin.ed to be eligible for insurance uader the National Housing Act within 60 daya from the date hereo� Lender may, at i�ts option, require immediate paymeat ia full of all sums seci.ued by tbis Security Iasttum.ent. � written statement of auy autharized agent of t�te Secretary dated snbsequent to 60 days from the date hereo� declining ta insrlxe this Security Insbntment a�ud the Note, sball be deesned conclusive praof of such in.eligibility. Notv�rithstanding the foregoing, tbis option may aot be exerciaed by Lender whea. the unavai2ability of insuraace is solely due to Lender's failu� to remit a mortgage vnsir�ra,uce prexo.iwat to the 5ecz'etat�'- 16. Reinstatement Boszower has a right to be reinstated if Leader has required im�nzediate payment in full because of Borrower's failure ta pay an amo� due vadar the Note or fJus Security Instru,ment. This right applies eveu ai�ez foreclosu�re proceedings ara instituted, To reinstate the Secuzity Ins�rum�nt, Boztower shali tender in a lump sum all am.ounts required #o bring Borrower's accoimt cmrent including, to the exEent they aze abligations of Borrower wnder this Security Instrument, fareclos�ue costs and reasonabie and cns�omary attorneys' fees and e�enses properly asso�iated with the £oreclosure proceeding. Upon zeinstatement by Bonrower, tlus Security Iustnmment and the obligations that it s�c,vr� shall remaut in effect as if Lender ltad not required immediate payment in. fu1l.. How�ver, Lender is not required to pexmit reiastatement if: (i) Lender has accepted zeinstatement afiter the commencemcut of fozeclasure proceedings yvit�fiin, two y�.rs immediately preceding the commencem�nt af a cuaent forrecclosure pxaceediag, (ii} reinstatement will prealude foreclosure on differ�nt grounds in the fa�ture, or (iii) reinstatement w�ill adversely affeat the pniority of the liea created by f�his Sectu�ity Instrumeu� 11. Borrower Not Released; Forbearance Bp Lender Not a Wa�tver. Extensian of the ti�e of paymeat or saodi6catioa of amortization of the sums secwred by #hie Secunity Inst�r�mnettt gcaated Try T,eader to any successor in iaterest of Baaower shall not operate to release tlxe Iiability of tha original Borrowet oz Bonoaver's snccessor iun inter�t. Lender shall not be required to comtneu.ceproceedings against any succeasor in iateze�t or rafvse to extend tim.e for pa.ym.ent or otlzerwise modify amortization of the sums secured by this Securiiy Instrument by reason of any demand made by the oxiginal Boxrower ar Bonrawer's successars in interest. Any fosbe�tance by Lender in exezcising any right or rem.edy sl�all not be a waiver of or pzeclude the exercise of any right or remedy. 12. Snccessors and Assigns Bonnd; Joint and Several Liability; Co-Signera The covenaBts and agreemenls of thie 3e�urity Tnslxlunent shall bind aad benefit the successozs aud assigns of Lender and Borrower, subject to the pmvisions of pasagrapli 9(b}, Bozrower's covenants and agreements shall be joint aud several. Any Bormwer who co-signs this Secusity Ias6nxment but does not execute the Note: (a) is co-signing this Security T:¢etrvment only to mortgage, grant and convey that Boztowez's imterest in the Properiy under the terms of tlus Security Inshv.ment; (b) ia not persanaIly abligated to pay fhe sums se,cuz�d by this Secutity Instrument; and (c} agrees tb.at Lender and any othez Bonower may agree to extend, modify, forbear or make any accommadations wi#h regard to the fierms of this Seciuity inst�vnaent or the Note without tha.t Bozxower's consent. `y�+��'4R(NE� Z98D1) Re�5of8 �n)8als �� _