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<br /> �^ (i)All orrW sart o�f t�e�°co�er t�han by devi e ort descent),andt����1 or part of the Property,is sold -
<br /> or othe
<br /> �.,.,,,,,,, (ii)The Progerty is not occupied by the purchaser or grantee as his or�er principal residencc:ov��n
<br /> - purchaser or grantec does so occupy the Properry but his or her crcdit has not been app
<br /> accordance wlth the recluirement�of the Sccretary. -
<br /> (c)No Walver. If circumstances aceur that would permit Lender ro xequire immediate payment in tull, but ry
<br /> �� . Ixnder docs not rt�{uire such payments,I.ender does not waive iu ri�hts with aespect to subsequent events.
<br /> (d) Regulatlons oP tND Secretary. In manY clrcumstances c�egulations Issued by the Secretary will limit
<br /> � L,ender's rights, in the case of payment defaults,to requirc immediate payment in full and foreclose if not _
<br /> � ' '�� paid.Tbis Securiry Instrument does not authorize accelasarion or foreclosure if not permitted by reguladons _
<br /> ; �; of the Secretary. —�--
<br /> �1. �`,; . (e)Mortgage IVoE Iasured.Sorrower agrees that if this�ecuri.ty Iustrutnent and the Note are not dete�ade�r =
<br /> :`-:�:�. ,, s�I� to be eligible for insurance under the Narional Housing Act within bU days from the date hereof, —
<br /> may, at its option, require immedlate payment in fu11 of all sums secured by this Securiry Iastrument. A �`
<br />- ��. ':��`^�'�� wrltten statement of any authorized agent of the Secretary dated subsequent to 60 days from the date hereof,
<br /> declining to insure this Securiry Iustrument and the Note, shall be deemed concluslve proof of such _
<br /> ��.
<br /> � ��t?� ineligibility, Nonvithstanding thc foregoing, this option muy not be exercised by Lcnder wt►en the ��::
<br /> ,;,,,�' unavailabiliry of insurance is solely due to Leuder's fa�llure to temit a mortgage insurance premium to the �
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<br /> .:..� Sectetary. �'-
<br /> 10. Re[astatement. Borrower bas a right to be reinstatecl if Y.ender has required imme�liate paymont in fu� _
<br /> ..�:M,-;�.,�,. , ber�use of Bonowet's failure to pay an amount due under the Note or this Securiry Insu'►t�nenc• This right app
<br /> even after foreclosure pmceedin8s are instituted. To reinstate the Securlry Instrument, Bonower sh�ll tender in a
<br />��p�� �. . PY arP nfiliradons of
<br /> .u,,� lump sum all amouats required to bring Borruwer's aceounc curreni iu��ad;ng. ta the E..ient th_
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<br /> ;;� Borrower under this Securiry Insuument,foreclosure costs and ceasonable and customary attoiueys'fees and expenses
<br /> � pmperiy asscelated wtth thc foreclosure proceeding. Upoa reinstatement by Borrower,this Sccudry Instrument and _
<br />_.�;�li�,:- the obligations that It secures shall remaia in effect as if Lender had not required lmmediate paymeut ln 'fu11•
<br /> ��.���R However, I.ender is nat required ca Permi� rcinstatement if: (i) L.eades has accepted reinstatement after the �
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<br /> commencement of foreclosure proceedin8s within two years immediately preceding the commencement of a currenc
<br /> ,___ .�--,__�� foreclosure pmceedinS. (ii) reinstatement wlll preclude foreclasure oa different grounds in the future� or (iii)
<br /> �._:�;�� reinstatement will edv�rsely affect the priority of tlie lien created by this Secudty Insuument. _
<br /> ��t�,� 11. Bocrower Not RdeASed; Forh�xrance By I.ender Not a VY�lver. Extenaion of the time of payment or
<br /> "``"� mocfificadou of anoortizadon of the sums s�ured by tlus Security Insuvmcnt granted by Lender to any successor in
<br /> - interest of Bomower sball not operate to release che liabiliry of the odginal Borrower or Borrower's suceessor in
<br /> interest. Lender shaU not be rcquim.�1 to commence proccedings against any sucassor in interest or refuse ta exteud
<br /> — time for payment or othecwise modifY amor�i�aqon of the sums secur�ed by tbis S�xuriry InsuuYnent by crason of any
<br /> demand made by the original Bomower ur Borrower's successors in interest.Any forbearance by I.ender in eaercising
<br /> � any right or niuedy shall not be a waiver of ox preclude the exercise of auy rtght or remedy.
<br /> 12. Succes.go�s a►nd AsslBns Bound;Joiut and Several LtabiHty;CoSigners.'fho wvenants and agrcemonts
<br /> of this Securlry InstruYUent shall bind and benefit the suc�cessors and assigns of Lender and Bonowcr,subjecc to the __
<br /> -�— provisions of paragraph 9(b). Borrower's covenants and agreements shall be joint and several. Any Bonrower who
<br />--=_--� co-signs this Secudc7� Insuument but does not eaecute the Nate: (a) ia co-signiug tlils Security�nst�ment only to
<br />-�__---` = martgage.grant and convey thAt Borrower's interest in the PcopenY under the terms of this Security Instrument; (b)
<br /> ^ �s^� is not personally abtigated to pay the sums secured by this Security Instruwent;aad(c)agras that Lender and aay
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