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<br /> �.,�, . 1 (i)AU or pan of the Propeny,or a beneficial interest in a tn►st owning all or pan of the Property,is sold � .'f .,�ir_.-
<br /> i or otherwise transferred(other than by deviseor dcscent), and '�'�.�'.��_"
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<br /> I (ii) The Property is not occupied by the purchaser or grantee as his or her principal residence, or the --_
<br /> purchaser or gramee does so occupy the Propeny but his or her crcdit has not been approved in _
<br /> accordance wi[h the requirements of the Secretary. .�``�=
<br /> (c) No Wniver. lf circumstances occur that would permit Lender�o require immediate paym�nt in full, but
<br /> Lender does no�require such payments, L,ender does not waive its rights with respect to subsequent events.
<br /> (d) Regulattons oF HUD Secretary. In many circumstances regulations issued by the Secretary will limit __
<br /> , Lender's rights, in [he case of payment defaults, to require immediate payment in full and foreclose if not _-
<br /> � paid. This Securicy Instrument does not authorize acceleration or foreclosure if not permitted by regulations
<br /> of[he Secrctary.
<br /> (e)Mortgage Not Insured.Bonower agrees tha�if this�ecurity Instrumeut and the Note are not determined
<br /> � to be eligible for insutance under the National Housing Act within 60 days from the date heteof, Lender ,.-
<br /> may, at its option, rcquire immediatc payment in full of all sums secured by this Security lnscrument. A
<br /> �' writcen statement of any authorized agent of the Secretary dated subsequent to fi0 days from the date hereof, _
<br /> declining to insurc this Security Instrument and the Note, shall be deemed conclusive proof of such
<br /> �� ineligibiliry. Notwithstanding the foregoing, this option may not be exercised by Lender when the �a�
<br /> unavailability of insurance is solety due to Lender's failurc to remit a mortgage insurance premium to the __
<br /> � Secretary. —
<br /> � 10. Reinstatement. Borrower has a right to be reinstated if Lender has required itnmediate payment in full _
<br /> because of Bonower's failure[o pay an amounc due under the Note or this Security Instrumenc. This right applies
<br /> – even aftnr fu,cc3usurc pracc�di.~.gs arc ins:i:usad. To r^lnstate thc SPc❑riiy Tnscrument. Borrower sliall tender in a
<br /> lump sum all amounts required to bring Borrower's account current including, [o the extent they aze�bligations of --
<br /> Bonower under this Security Instrument,foreclosure costs and reasonable and customary attorneys'fees and expcnses
<br /> • properly associated with the foreclosure proceeding. Upon reinstatement by Bottower, this Security Instntment and _
<br /> � . the obligations that i[ secures shall remain in effect as if L.ender had not required immediate paymene in full. .�
<br /> � However, Lender is not required to permit reinstatement if: (i) l.ender has accepted reinstatement after the ..��.
<br /> commencemenc of foreclosure proceedin�s within two years immediately preceding che commencement of a current
<br /> � foreclosure procceding, (ii) reinstatemen[ will preclude foreclosure on different grounds in the future, or (iii) � �
<br /> reinstatement will adversely affect[he prioricy of the lien created by[his Security Instrument.
<br /> ,� 11. Borrower Not Releused; Forbcarance By Lender Not s Wniver. Extension of the time of payment or ---
<br /> � �•. modification of amonization of the sums secured by this Security Instrument granted by Lender to any successor in
<br /> x. interest of Borrower shall not operate to release the liability of the original Bonower or Borrower's successor in
<br /> interest. Lender sh�ll not be required to comrnence proceedings against any successor in interest or refuse[o extend
<br /> [ime for paymenc or othenvise modify nmortizaeion of the sums sccured by this Security Instrument by reason�f any �
<br /> r� demand made by the original Borrower or Bonower's successors in interest. Any forbearance by L.ender tn exercising ��_
<br /> } any right or remedy shall not be a waiver of or preclude the exercise of any right or temedy. �:-
<br /> � 12. Successors and Assi�ns Bound;Joint und Several Liabllity; Co-5lgners. The covenants and agreements ;*�q�
<br /> � of this Security [nstrument shall bind and benefit the successors and assigns of Lender and Borrower,subject ro the - _
<br /> provisions of paragraph 9(b). Aonower's covcnants and agrcements shall be joint and several. Any Borrower who
<br /> ; co•signs [his Security [nstrument but does not exccutc thc Notc: (a) is co-signing this Security InstnamAnt �nly to �_____
<br /> mongage, grant and convcy that Borrower's interest in the Property under thc terms of this Securiry Instrumc:nt; (b) i�"'=
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<br /> is not personally obligated to pa�- the sums secured by[his Securiry Instrumenr, and(c)agrees that Lender and any "y��._�,�;�.=___—
<br /> other Borrower may agree to extcnd, modify, forbear or makc any accommodations with rcgard to the terms of this '3�
<br /> Security Instrument or the Note without that Borrower's consent. ,, •• `�=
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