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20110�903 (i) All or part of the Property, or a beneficial interest in a trust owning all or part of the Property, is sold ar othervvise hansfezred (other than by devise or descent), and (ii) The Progeriy is not occupied by the purchasez or grantee as his or her principal residence, or tha purchsser or �tee does so occupy the Properiy but his or her cre�it has not be,en approved in accordance wixh the requirements of the Secretazy. (c) No Waiver. If circumstaiaces occur that would permit Lender to r�uire immediate payment in full, but Lender does not require such payments, I,ender does not waive its rigl�ts with respe� to subse�uent events. (cn Regulal3ons of HYTD Secretary. In many circumstances regulations issue� by the Secretary will limit Lender's rights, in the case of payment defaults, to require immediate payment in full and foreclose if not paid This Security Instrument daes not authorize acceleration or fare�losure if not permitted by regulations of the Secretary. (e) Mortgage Not Insnred. Brnrower agrees that if this Security Instrument az�d the Note are not determined to be eligible for insurance undar tha Narional Housing Act within 60 days from the date her�f, Lender may, at its option, require immediate payment in full of all sums secure�i by t1�is Security Insttumen� A written statement of any authorized agent of the Secretary dated subsequent to 60 days from the date hereu� declining to insure this Security Instrument and the Note, shall be dcemed conclusive pr�f of such ineligi'bility. Notwithstanding the foregoiag, this option may not be exerciseri by Lender when the unavailability of insurance is solely due to Lender' s failure to remit a mortgage insurance premium to the Secretary. 10. Reinatatement� Barrower has a right to be reinstated if Lender has requirefl immediate payment in full b�ause of Borrower's fai.lure to pay an amount due under the Note or this Security Instmm�ent. This right applies even after for�losure praceedings are instituted. To reinstate the Security Instrument, Bogower shall tender in a lump sum all amounts require� to bring Borrawer's account current including, to the extent they are obligarions of Borrower under this Secunty Instrument, foreclosure casts and reasonable and customary attorneys' fces and expenses properly as�ociate� with the foreclosure proceeding. Upan reinstatement by Bonower, tlus Se�urity Insfinment and the obligations that it secures shall remain i.n effect as if L�nder had not required imme�iate payment in full. However, Lender is not renuired to permit reinstatement if (i) Lende� has accepted reinstatement after the commencement of fare�losure proceedings within two years imn,ecl;a�ly pr�eding the commencement of a cuaent foreclosure proceeding, (ii) reinstatement will preclude foreclosure on different grounds in the fixh�re, or (iii) reinstatement will adversely affect the priority of the lien created by this Se�mty Instrumen� 11. Borrower Not Releaseil; Forbearance By Lender Not a Wa�tver. Extension of the time of payment or modification of amorti�tion of the sums secuzed by this Security Tnstrument granted by Lender to any successor in interest of Boaower shall not operate to release the liability of the original Borrower or Borrower' s s�iccessor in interest. Lender shall not be aequired to commence procee�ings against any successor in interest or refuse to extend time for payment or otherwise modify amortir.dtion of the sums secured by tUis Se�urity Inslntment by reason of eny demand made by the originHl Borrower or Borrower's successars in interest. Any forb�ce by Lender in exercising aay right or remedy shall not be a waiver of or preclude the exercise of any right or rem�ly, 12. 5nccessors and Assigns Bound; Jo�ut and Several Liability; CaSigners. The covenants and agreements of this Se�urity Instrument shall bind and benefit the successors an.d assigus of Lender and Borrower, subject to the provisions o£paragraph 9(b). Bonower's covenants and agreements shatl be joint and several. Any Borrower who co-signs this Security Insttument but does not elcecute the Note: (a) is co-signing this Security Inslrument only to mortgage, grant �d convey that Borrower' s interest in the Properiy under the tecros of this Se�urity In.�trument; (b) is not personally obligate� to pay the sums secured by this Security Instciiment; and (c) agrees that Lender aud any ather Banower may agree to extend, medify, farbear or make any accommodarions with regard to the tenns of this Security Instrument or the Note without that Borrower's consent. 2200174269 D V .: �p wa�: �. VMPC�-4N(Nq roao�).ot Po� 6,� e