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<br /> (i) AU or part of Ihe Property,or a bcneficial Intcrest in n wst owning all or psirt of thc Property,is sold or
<br /> r oth�rwiso transfcacd(othcr than by dcvisc or dcsccnt},and
<br /> (il) 'me Property is not occupied by the pnrchaser or grante�ns his or her principal resldence, or the
<br /> puredaser or grantee does so occupy tha Property but his or her credit has not been approved in accordance
<br /> with the requuemen�v of Ilio Secretery. '
<br /> (c) No Waiver. If circumstances occur that would permit L.ender to requlre immediate payment in full, but �. �fy�Y�y: _
<br /> Lender does not rcqulre such paymcnts,I.ender does not walvo its rights with respcct to subsequcnt events. �.:r,i�F�';�.�=
<br /> (d) Reguations of HIID Secaetary. In many circumstences reguledons issucd by the Secretary wiU Umit �
<br /> Lender's dghts,in the case of payment defaults,to require immediate payment in full and foreclose if not paid. 1.����`--
<br /> „ Tl�is Securlty Instrument does not suthorize acceleration or fore�losnre if not pemtitted by reg�iladons of the :---
<br /> Secrctary. �.. -
<br /> � (e)MortgAge Not Iosured.Borrower agrees that if ihis Security Instrument and the Note arc not determined to �
<br /> � be eligible for lnsurance under the Na6onal Housing Act within 60 days from the date hereof,Lender ntay.at --
<br /> its option, requira immediate payment in full of all sums secured by this Security Instivmen� A wriuen 5-_- -
<br /> <, siatement of eny authorized agent of the Secretery dated subsequent w 60 days from the date he�eof,decllning � �.�4�� —
<br /> �' to �nsw�e this Securlty Inswment and the Note, shall be deemed conclusive proof of such inellgibiliry. �`4�� `�_—
<br /> '' ' Notwithstending the foregoing, this oprion may not be exercised by Lcnder when the unavailability of , ;�.:,�.:M��
<br /> • • �} insurance is solely due w Lender's fallure to remit a mortgage insurance premium to the Sec.�retery. �� ''"�a�•
<br /> 10.Reinstatemen�Bormwer hav a rlght W be re�nstated if Len@er has required immediate payment in full because ������ "�
<br /> ' : of Boimwer's fallure w pay an amount due under the Note or this Securlty Insuumen�This right applles even after •;:�, ' ��
<br /> foreclosure procec�Ings a��nsdtuted.To reinstate the Securlty Insuument,Borrower shall tendu In a lump s�un all `-�
<br /> '`�� amounts reqaired to bring Borrower's account cunent including,to the extent they aze obllgations of Borrower under ��
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<br /> this Security Instwnent, foreclosum costs and reasonable and customary nttomeys' fees and eapenses properly �•T
<br /> ��� associated wiah ihe foreclosure proceeding. Upon reinstatement by Sorrower, this Security Instrument and the �'
<br /> �, �� � obGgudons thai it st,cures shnll remain in effect as if Lender had not required immediate payment in full.However, 1� .;i
<br /> ".�• Lender is not required to pe�mit reinstatement if: (i) Lender has accepted reinstatement after the commencement of • �
<br /> �¢ forecbsure proceedings wllhin two years immediately preceding the commencement of a curreat foc�aclosuro
<br /> ; prooeeding, (u) ninstatement will preclude faroclosure on different grounds in the fuwre, or(ill) minstate�nent wiU
<br /> actversely affoct the priodty of the Iien creatod by this Security Instr�unen� ..
<br /> 11. Borrower Not Rekased; Forbwrance By I.ender Not� Wwiver. Extension of the tune of payment or
<br />- � modificatlon of emortization of the sums secured by this Securiry Inst�ument granted by Lender w any successor in — -
<br /> �� lntcrest of Homowe[shall not operate to releaso the llability of the original Bocrawer or Hocrower's succcssor in IntetesG '
<br /> Leader shaU not be required W commence proceedings against any successor in interest or refuse to oxtend dma for �s�'
<br />-. . payment or otherwise modify amorti�ation of the suma secured by tfiis Sec�uity Inswmer►t by reason of eny demand �'-
<br />= made by the origlnal Borrower or porrower's successors in interesG A�y forbearance by Lender in exercising eny dght �
<br /> ��� �`-.• •° or remedy shafl not be a waiver of or proclude the exucise of any right or remedy. ���_-_
<br />;•�'�'� �.� 12.Successors and Ass Bouna;Jotnt and SeverAl LiabUi CaSi ers.'Ihe covenants and ��'"
<br /> iges t9i 8n egroements of �;:�t�,�;.�
<br />_.�.• . this Securlry Insuument ahall bind and benefit !ho s�cces,sors and essig�s of I.ender end Borrower, subject w the
<br /> __ -- - - provisivns oi pa►i�nq,i� 9('oj. Borr�wci's cr,vEaa�u and a�c�.-r,cni� sh�:�,jaint scs�;�.vezaf. 1`sy Ec::c::��z e:h� --_
<br /> , co•signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to �
<br />_ � mortgage,grant and wnvey thai Borrower's interest in ihe Prop�rty undcr the terms of this Secnrlty Instrumenl;(b)is �- �
<br /> .�"` �� not personally obGgated to pay the sums sec�ued by this Security Instrumenr and(c)agrces that Lender end nny olher
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<br /> -- Borrower may agreE to eatend,modify,forbetu or make any accommoda6ons with regard to the terms of thia Sscurity -
<br /> "' . Instrument or the Note without that Borrower's consent -
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