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<br /> ,. � 98- 1t�14�65 � � .
<br /> J,,,, (i)All or pan of the Propetty,or a bcneficiul interest in a tnist owninb aU or part of the Property, is sold --
<br /> '` y or otherwisc transfened(other than by devise or descent),and ---
<br /> (ii) Thc Property is not occupied by thc purchaser or grantee as his on c�r principal residencc, or the , _
<br /> purchaser or grantee daes so occupy the Property but his or her credit has nat been upproved in _
<br /> accordancewith the requirements of the Secretary. '--
<br /> (c) No Waiver. If circumsta�ues occur that would permit Lcnder to require immediate payment in full, but •� _
<br /> I.ender docs not require such payments,Lender does not waive its righis with respect to subsequent events. _
<br /> (d) Regulattons of HIJD Secretury. In many circumstances regulations issued by the Secretary will limit -
<br /> I.ender's dghts, in the case of paymenc defaults, to require immediate payment in full und foreclose if not ...
<br /> paid.This Security Instrument does not authorize acceleration or foreclosur� if not permitted by regulations '} �
<br /> of the Secretary. ' •��•"
<br /> (e) Mortga�eNoi Insured.Borrower agrees that if this Securiry Instrument and the Note are not determined _,,;�. ;:
<br /> to b�eligible for insurance under the National Housing Act within 60 dayc from the date hereof, l.ender � ,_
<br /> may,at its o�tion, require inunediate payment in full of all sums secured by this Security Instrument. A .,a,.-;
<br /> writtcn statemeac of any authorized agent of the Secretary dated subsequent to 60 days from the date hereof, _,
<br /> � declining to insure this Security Instrument and the Note, shall be deemed conclusive proof of such .,,
<br /> ' ineligibilicy. Notwithscanding the foregoing, this option may not be exercised by Lender when the ;,=--- -
<br /> unavailability of insurance is solely due to Lender's failure to r�mit a mortgage insurance premium to the , —
<br /> . '�. Secretary. _*•ti:
<br /> 10. Retnstatement. Borrower has a right to be reinstated if Lender hac required immediate payment in fuli __Y
<br /> � because of Borrower's failure to pay an amount due under the Note or this Security Instrument. This right applies __�
<br /> • even after foreclosure proceec�ings are instituced. To reinstate the Security Instrument. Borrower shall tender in a
<br /> lump sum all amounts required to bring Bonower's account cucrent including, to the extent they are obligations af
<br /> Borrower under this Securiry Instrument,foreclosure costs and reasonable and cuscomary attut�,cys' tas and ezpcnscs -
<br /> � properly associated wi�h the foreclosure proceeding. Upon reinstatement by Borrower, this Security Instrument and — -
<br /> , [he obligations that it secures shall remain in effect as if I.ender had not required immediate payment in full. -_ _
<br /> However, Lender is nat required to permit reinstatement if: (i) I.ender has accepted reinstatement after the — —_i
<br /> commencement of foreclosure proceedings within [wo years immediately preceding the commencement of a cunent
<br /> • foreclosure procee.ding, (ii) reinstatement will preclude foreclosure on different grounds in the future, or (iii)
<br /> fi reinstatement will adversely affect the priority of the lien creaced by this Securiry Instrument. - _
<br /> 11. Borrower Not Released; Forbearance By Lender Not a Waiver.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 /> interest of Borrower shall not operate to release the liability of the original Bonower or Borrower's successor in --
<br /> � interest. Lender shall not be rcquired to conunence proceedings against any successor in interest or refuse to extend __
<br /> � time for payment or dherwise modify amortization of the sums secured by this Security lnstrument by reason of any ,-,
<br /> � demand made b}the original Bonawer or Borrower's successors in interest. Any forbearance by Lender in exerclsing ;-_-
<br /> � any right or remedy s�all not be a waiver of or preclude the exercise of any right ar remedy. ��=��
<br /> ; 12.Snccessors and Assigns Bound;Joint and Several Liability; Co-Signers. The covenants and agreements __---
<br /> ' of this Security Instrument shall bind and benefit the successors and assigns of L.ender and Bonower, subject to the -
<br />' '� provisions of pazagnph 9(b). Borrower's covenancs and agreements shall be joint and several. Any Borrower who =_
<br />- co-signs this Securiry Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to __
<br /> mortgage, granc and mnvey that Bonower's int�rest in the Propeny under the terms of this Security Instrument; (b)
<br /> - ' is not personally obligated to pay the sums secured by this Securiry Instrumenr, and (c)agrees that Lender and any �:��----�=���
<br /> - other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this '-•tiv.* �
<br /> Security Instrument or the Note without that Bonower's consent. " `--
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