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<br /> _ _ �_,___; (i)AU or part of th�Property,or a beneficial interest in a uust owning all or parc of the Property,is sold � _, . S..
<br /> �• or othecwise uansferred(other thaa by devise or descent),and -
<br /> ' � � (ii)The Property is not occupied by the purchaser or grantee as his or her principal residence,or the _ � � ,
<br /> �� - � does so the Pro erty but his or her credit has not been apg�aved in ��-__._._.__.�.-�..,-.,,
<br /> '� . purchaser or grantee �PY P ' , .. ��.9,�:
<br />_ : acxordance with the iequiremeats of the Secretary. . �,
<br /> ?Y". . �'�..5-:-,.t .��._
<br /> . , (c)No Waiver.If ciraimstances oaur that would pezmit Lr.ader to require immediate paymeat in full,buc . �;�_�_
<br />-- � � Ixnder daes not reqnire sucd�payments>1,ender d oes aot waive i t s ri g h t s w i a h r e s p e c c to subs e quent events- _ _--
<br /> • • (�Reguta8ona oY HUD Secreta�y. In many eirc�mstances re8mlations issued by the Secretary will limit ___ .T
<br />. � ` � Lendes's rights,in the case af payment defaults,to requue imme�ate PaYmen�in ful�and foreclose if not
<br /> �. . . � � ..
<br /> • Patd.This Sea�rity Insusimeent daes not anthor'rae acceleration or foreclosure if not permitted by regulations _
<br /> - � of the Secmaary. �.`-
<br /> (e)Mortgage Not ffasumed.Borrower agrees that if this Secauiry Insuament aud the Note are not determined -'
<br /> as
<br /> to be eligt'ble for msurance under the National Housing Act within 60 days from the date hereof, Lender •�_�.
<br /> � may. at its arption, recluire�e PaYment in full af all sums secured bY this Securiry Insavment. A � = . ----
<br /> `' �` written statement of aay awhorized agent of the Secretary datea sobsequent to 60 days fram tfie date hereof, �` �- -�
<br /> " ' ' deciining w insure this Se�arity Instmment aad the Note. s3ia(1 be deemed concl�-e prooF of sucb --- -----:--- —
<br />� • ' inelig►bility. Notwithstaading the foregoing, this opdon may not be exercised by Lender wiien the , � �,"'r�
<br /> ' - unavailabs�iry of insarance is soleIy due to I.ender's fa�7ure to remit a mortgage insurance premium to the � �:, . . - -
<br /> ' 5ecretaiY• �' �LL
<br />_��1'�. � - 10. 8ein�temeat. Borrower has a right to ise reinstated if Lender has required imraediate payment in fiill r '. _ `
<br /> � " because of Bortower's falnre to pay an amount dne under the Note or this Securiry Insuumen�• 'This right aPPhes . y,
<br /> even after foreclosure pmceedings are ibstituted. To reiastate the Securiry Instrument, Borrower shall tender in a :•�,: .�_ �=
<br /> . � � . Iump sum aU amoants iecl'.iired to bring�orrower's account current including,to the extent they are abligauons of ,,:, �:=----
<br /> �.�: • Bormwer under this Securiry Inst:ument.foreclosare casts and teasonable and customary attorneys'fces and expenses Y :
<br /> �;' :' _ .. pro perl y assaciated with the foreclosure proceeding.Upon reinstatement by Borrower, this Secupity Insuument and .
<br /> :�i. the obli g a t lons that it secums shall re�eain in effect as if Lender had nat requi r e d imm e d i��paymen t in f u l l. �°
<br />� However, Lender is not required to permit reinstatement if: (i) Lender has accepted reins�acement after the � "�__._�,'_�,
<br /> � ' oommeneement of foneclosute pmceedings arithin two years immediately greceding the commeacement of a casrent ��.
<br /> , ne
<br /> � foreclosure pmceedin8, (ii)reins�atement arill Preclade foreclosure on different grounds in �he future, or (iii) ' � ;. ,�
<br /> . - -- � reinstaiement wiU adversely affect d�e priflriry of the liea created by this Security Inswment. . < ,'�T;�.
<br /> 11. Borrower Not Iteleased; Forbearaace By Lender Not a Walver. Extension of the time of payment or . ,.,�.�:`':
<br /> .�_�-
<br /> ' modificatton of amord�ation of the sums socured lry this Securlty lnstniment•granted by Lend.r to any successor in .. _:�;,--�,-
<br /> ` � interest of Borcower shall not operate to release the liabiliry of the original Borrower or Borrower's successor in . � . �,__
<br /> : ,'; interes� Leader shall not be required to commence proceedings against any successor in interest or refuse to extend ..,' ` ;,?:��=�_
<br /> ` time for payment or otherarise modify+amortizarion of the sums secured by ttus Security Instrameat by reason of any _m-
<br /> E ' � , , � demand made by the original Boaower or Borrower's successors in interest.Any forbearance by 9.ender in exercising , ; =
<br /> �_.
<br /> ' • '� any right or remedy shaU not be a waiver of or preciude the exercise of any right or remedy. . - -
<br /> -�_-- -;,� u� Suc�a�s ead Assigas Boand;Joint and Severa!Uabi�fis; Co-Slga:cs. 'I'he covenants and agreemenu _
<br /> ' •>> of this Secusity Instivment shall bind and benefit the successors and assigas of lx.�der and Borrower,sub}ect to the .
<br /> ; � • , f provisions of �aragraph 9(1�). Borrower's covenants and agreements shall be joint and several. My Boaower who � •, :.St_
<br /> �.`,I; � • • �� co-signs this Security Insuument but does not execute the Note: (a)is co-signing this Securiry Instniment only to , .
<br /> mortgage,grant and canvey that Barrower's interest ia the Property ander the terms of this Security Instrument:(b) . .
<br /> ���' • � is not ge�sonally obligated to pay the sums secured by this Security lnstrument; and (c)agrers that l.ender and any . �,`. .
<br /> ' ' ; other Borrower may agree to eatend,modify, forbear or make any accommodations with regazd to the terms of this �
<br /> � ' t gectuity Instniment or the Note without tbat Bonower's wnseat. • � ' r�
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