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� .>�. .. . • ..�._ ,, �. � � - , ,.�_ ',,^ ,� 98- ��11�2 ;,�� • (i) All or part of the Property,or a beneficial interest in a trust owning xll or part of the Praprrty. is sold �� ar otherwise trausferred(ather than by devise ar descent), and - (ii) The Propeny is uot occupied by the purchxser ar grantee as liis or her princip�►1 resideace. or the � ; purchaser ar grantee does so occupy the Property but his or her credit hus nut heen approved in � accordance with the nquirements of the Secretary. __ (e)No Waiver. If circwnstances occur that would permit i.ender to require immediate payment in full, but Lender does nat require such paymenu.Lender does not wxive its rights wich respect to subsequent events. - (d) Regulattans of HUA Secretary. In many circumstances regulauons issued by the Secretary will limit Lender's rights, in the case of payment defaults, ro require iuunediate paymettt in full anci f�reciase if not =. � paid. Tfux Sccurity Insuument does nat authorize acceleration or farec;losure if not pemzitted by reguladons �r af the SecreUsry. ___ (e)Mortgage Not Insured. Bonower agrees that if this Security Insuument and the Note ure not determined —_ ,� to be eligible for insurance under the Nadonal Housing Act within 60 days from the clate hereof. Lender �.- � may. at its option, require iu�mediate payment ia full of all sums secured by this Security Iasuument. A _. �- written statement of any authorized agent of the Secretary clated subsequent to 60 days from the date hereof, _ � declining to insure tbis Security Insuument and the Note, xhall be deemed conclusive proof of such Ineli�ibility. Notwith�tanding the foregoing, this option may not be exercised by Lendet when the �� uuuvxilability of iiuurance i�solely due to Lender's failure to remit a mongage insur�nce pmcnlum to the a. � Secretary. � 10. Reinstatement. Banower has a rigl�t to be retnstated if ixnder ltas rryuired imme;iiate payment in full _ — 6ccawc uf B�;rr�wcr'� f:�ture ss�p�;xt� am^��ns �iue under the Note or this Security Instruntent.Tliiti right applies even after fareclosure praceed[ngs arc Intitituted. Te� reinstate the Security Instrument, Borrawer shall tender in a lump sum all a�uounts requlred ta hring Barruwer's accouiu current incluJing, to die extent they xre oblibadous of � � Horrower under dtis Security Iasuttment,foreclusure casGti and reawnable and custaraary aetomeyh fees und expense� __ � properly assoc3ated with the foreclosure proceeding. Upon relatitatement by Bonower. this Securlty Insuument and � the obligadons that it secures shall reinain in effect as if Lender had not requlred imniediace payment In full. ��■_ � � However, Lender is not requirecl to pern�it reinstatement If: (i) Lender has accepted rei�uutteuieat after the i��, t commencement of foreclosure proceedings wlchin two yeurs iramediately preceding the commencement of a current L�_^ : foreclosure praceeding, (ii) reii�statement wfll preclude fnreclosure on dlfferent grounds in d�e future. or (iil) �Y , reinstatement will advetsely affect the priority of the lien created by this Security Instrument. --- •' 11. Borrower Not Released; Forbearance By L.ender Not a Wafver. Extension of the time of payruent or -- modification of�unortization of the sunis secured bY th�s Security Instnuuent granted by Lender to�ny successor in interest of Bonower shall not operate to release the liabiliry of the original Bonower or Borrower's successor in !_ interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend f time for paymenc or otherwise modify amortizadon af the sums secured by this Secnrity Iastniment by reuson of any demand made by the original Borrower or Barrower's succ:essors in interest. Any forbearance by I.ender in exercising �;_�. °. �. any right or reaiedy shall not be a waiver of or preclude the exercise of any right or remedy. �— � 12.Successors and Assigas Bound;Jolnt and Severul Llabiltty; Co-Signers. The covenwu and agreements �':�+��- of this Securiry Instrument shall bind and bene5t the successors and:usigns of Lender and Borrower,subject to the '.+`.�-� provisions of p�ragraph 9(b). Borrower's covenants anc�agreen�enu sh�ll be joint and several. Any Barrower who : — •r co-sign�this Security Iiutrumene but does noc execute die Note: (a) is co-sigiring d�is Security Instmment only to ,„,;.�' � mortgage,grant and convey chat Borrower's interest in die Property wider die temis of d�is Security lnstruruenr (b) ��J•; ----- ��_•�.�..�s?�-. is not personally obligated to pay dte sunts secured by diis Security Instnunent; and (c)agrees that Lender and any •�v�_ other Bonower may agree m extend, modi'ty, fc�rbear or muke any acconunodatiosu with regard to the tern�s of this -„-�:,_ Security Instrument or the Note widiout that Horrower's con�e�it. � P�ge 6 0l B wu.i.:� I { ��-4qINE1 teeoii a�� , � 1 I f- - I I . � _ __ - _