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<br /> � ' _ ..:,� ` (i}Ali or part of Une PropertY,or a heneficia3 intesesc in a uust owning all or part of the PropertY.is sold `� _�
<br /> . or oihernise uansfernd(other thaa by devise or descent),and � _:�- :` ��
<br /> � (ri)The PmPertY is not occupied by the purchaser or grantee as his or her principal residencc, or the .`�� . �
<br /> � .. ;. . ` purchaser or grancee does so uocapy the Property but his or her c r e d it h a s not been a p groved is : ' '.. _
<br /> • , - axordance with the reqUirements of the Secretazy. ' - `- .y_�_-
<br />- .�` (c)No Waiver.If circamstances oaau that would permit Lender to requite immediate payment in fiill,but . .
<br /> ' Lander daes not teqnue such payments,Lender daes not waive its rights with respect to subsequent events. ,
<br /> ' `� In man circvmstances�gula��ns���l► the Secretaiy will limit .
<br /> �:.� (� Regolat�ons of HUD S�retarg• Y j,,;
<br /> . ' 'E Lender's rights,in the case of payment defanits,to require immediate payment in full and foieclose if aot --
<br /> � � � ` . paid.This Security Inswment does not aiuhorir.e acceleration or forEClosure if not germitted hY regulations . ` <-��-�
<br /> �ri•r�=:Y,:
<br /> . of the Secreta�7+• �--. -
<br /> ' (e)Mortgage Not Jasure�l.Borrower agrees that if this Security Inst�me°t and the Note are not determined -
<br /> ' to be eligible for insuraace under the National Housing Aa within 60 days fmm the date h�Of, Lender 4 , ":�
<br /> , - wa Y, at its o ption, r�equire immediate paymeat ia full of all sums secured by this Security jasuument. A .:�Y`
<br /> - - � wrltten statemeut of anyr authorized agent of the Secretary dated subsequent to fs0 days from t he d a t e h e r e o f, , ( ,._,y,._=
<br /> • �^.ri-.
<br /> ' ' declining w insure this Securiry Inswment and the Note, shall be deemed conclusive proof of sach __ .-.:,•.i��`
<br /> ` Ineligibiliry. NotwithstandinS the fosegoing, this opuon may aot be exercised by Lender when the ; 37�,
<br /> . � `, unavailability of insuiaace is soIelY due to Lender's failure to remit a mortgage insurance premium to the . �'=°- _
<br /> Sectetary. � �:b'�
<br /> immediate paymeat ia fuli •_ !� f=�-_
<br /> • I0. Retastatemen� Boiro�+er 1�a.s a right to be reinstated if lxuder has require�� ,
<br /> • becai�se of Borrower's fazlure to pay an amouat due under the Note or chis Seruriry Ingavmenc• This right applies }:
<br /> �� '• � � reinstate ihe S I n s m i m e n t, B o T r o w e r s h a l l t e n d e r in a � °�'
<br /> even after foreclosure pmcesedings are instinited. To �tY •;_�.,:
<br /> � lump sum aU amounts required to bring Borrower's acoount curtent includiag,to the e�tent they are o613gaaons of , -�. }r��.
<br /> t..'` ` Bonawer under tl�is Security Iasanment,foreclosure costs and reasanable and cuscomary attomeys'fees and eapeases . ,. ' —
<br /> , . .�.'_-�-=_
<br /> ' . a . properly assaciated arith the foreclosvie proceeding.Upon reinstatemeat hy Bomower,this Securiry Instn�ment aa� .. ,';::�.
<br /> . � the obligations that it secures shall rema:a in effect as if Lender dad not required immediate payment in fiill. y;�
<br /> However. I.euder is not re,quired to peimit ninstatement if: (i) Lender has accepted reinstatement aftc�r the
<br /> commenceruent of forectosure proceedings within taro years iiamediately prccxding the commencement of a cuneat ; ,.�.��
<br /> --.... ._. .._. forectosure proceeding, (ii) niastatemeat arill preclude forectosure on different graunds in the funue. or (iii) :r___
<br /> . . reinstatement will adversely affect the priority of the lien created by this Security Iastrument. . �.:,.. •'.:�.�
<br /> ;�.��=_
<br /> • 11.Borrower PTo4 Released; Forbearance By I.ender Not a Waiver. Factenslon of the time of payment or , . . �_.;.,_
<br /> • modification of amonization of the sum4 secured by this Securiry Instrument granted by Lender to any successor in � • ; . ;,�:,.
<br /> � interest of Borrower shall not operase to release the liabiliry of the original Borrower or Boaower's sucoessos in „ �;�--
<br /> :} . '�.� interest. Leader shall not be required to comraence procexdings against any successor in interest or refnse to eatend '` -
<br /> �. ��
<br /> • � time for payment or otherwise modify aznortiTation of the sums secured by this Security lnsuument by reason of any ;��
<br /> demand made by the or�ginal Borrower or Borrower's successors in incerest.Any forbearance by Lender in exercising �,��:
<br /> - . � any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. • . __�
<br /> . . ' -�� 12.Successors an�Asslgns Bound;Joint and Several Llmbility;Co-3lgners.The covenants and ageements .�:-: y.:,: ••' : i
<br /> ; of this Security Instn�ment shall bind and benefit the successors and assigas of Lender and Borrower,subject to ihe
<br /> ::, :.-':
<br /> � provisions of paragraph 9(b)• Borrower's covenanu a n d agreemen t a s h a 1 1 b e j o i n t an d s e v e r a l.A a y B o a o w e r w h o
<br /> ' • : co-signs this Security Instrument but does not execute the Note: (a)is co-signing this Security Instnunent only to . .
<br /> . ' -:� mortgage,gram and convey that Borrower's interest in the Property under the terms of this Security Instrument:(b) • .. . •
<br /> • . is not personally obligated [o pay the sums secured by this Secvrity Instrument;and(c)agrees that I.ender and any �.�
<br /> � � other Boaower may agree to eatend,modify. forbear or make any accommodations with regard to the tertns of thia .
<br /> . . Secnrity Instrument or the Note without that Borrower's consent. • • . •
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