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<br /> (i)AU or part of thc Property,or a benaficitil Intcrest in a wst owning all or part of the Property,is sold or ,;" `
<br /> atheawise transfeacd(othcr then by devtse or desccnt),ond
<br /> , (a) 'I1io Property is not occupied by the purclinser or grantee as his nr her principal residence, or the
<br /> purchaser or grantee does so occupy the Property but his or her credit has not been approved in accordance :
<br /> � with ihe requirements of the Sccretary. , '
<br /> (c) No WA[ver. If circumstances occur that would permit Lender to reyuue imm�.diate pay:nent in fuU,but
<br /> i Lender dces not require such payments,Lender doe.4 not waive its rights with respect w subsequent events.
<br /> , (d) Regul�tions of HUID Secretary. In many circumstances regulatlons issued by the Secretary will limit �--.
<br /> • Lender's dghts,in the case of payment defaults,to reguire immediate payment in fuU and foreclose if not paid. � f�.;.
<br /> ' This Security Instrument does not authorize acceleradon or foreclosure if not rtniued b re aons of the 4�"�'
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<br /> ; Secretary. � ;,�' _
<br /> (e)I�1o�igage Noi Insured.Bo;rower agrees that if th�s Sccuriry Instrumcnt and the Note are not @etermined to ?`� � ' - -
<br /> be ellgil�le for insurance under the Nabonal Housing Act within 60 days from the date hereof,Lender muy,at , . ;'.:ri -
<br /> its opdon,rcquire unmediate payment in full af aU sums secured by this Security InstrumenG A wriaen � '���.1,
<br /> statemen[of any autharizcd agent of the Secretary dated subsequent to 60 days hom the date he�cof,declining -
<br /> ' � to insurc this Security Inslrument and ihe Note, shall be deemed wnclusive pmof of such incligibility. �.��°°';
<br /> ' ,.;�_ Notw[ttaslending the foregoing, this opdon may not be exercised by Lender when the unavailability of �.'-�;.,-
<br /> , insuranceis solely due W Lender's failure w remit a mortgage insurnnce premium to the Secsetary. ,.',°�'�,��--
<br /> 10.Reirtstatamen�Borrower has a dght to be reinstated if Lender has requlred immediate payment in full because �:�,'�;;"_'_
<br /> of IIorrawer's failure to pay en emaunt due imder the Note or this Security InsuumenG This r�ght applles aven eRer .,;��.�
<br /> foreclosura procaxdinge are insduued.To retnstate the Security lnstrument,Borcower shell tcnder in a lump eum e1D •���za�
<br /> emounts required w bdng Borrower's aceaunt ciurent including,to tho extent they are obllgadons of Borrower under
<br /> tt�3� �a.-u,-i:y I:.���ss:s�t, fos�lostu:. s�b «s=d re:�onable sns: cnsios^ws; ruor�c;e' f� �*u! �.YF^� �x�.�ly —
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<br /> assoclated with ihe foroclosum procoeding. Upon reinstatemant by Bortowcr, this Security Inswment and the
<br /> � obUgadons thet it secucos shall rcmain in cffect ag if I.cndcr had not rcc�uired tmmcdiata paymcnt in full. Howevcr. � �
<br /> Lcndcr is not requir�cf W permit reinstatcmcnt if: (i; Lcndcr has ecccptcd relnstatemcnt aftcr tha wmrr,cnccmcnt of � _
<br /> foreclosuro procadings within two yeara immediataly preceding the commencement of a current faroclosure --
<br /> procccding, (U) reinstatement w�l prcclude foreclosune on diffcrcnt�nunds in thc fuuuc. or (iii) �instatement wW =
<br /> adversely affcct thep�lority of tho Ilcn created by this SecurIty InstrumenG �-
<br /> � � 11. gorrovr�r Not Rekased; Forbearance By Lender Not a W�Iver.flxtcnsion of the dme of payment or `.��
<br /> . mocti2icaation of amordzation of the sums secured by this Security I►�strument gmnted by L,ender to any successor in �:.
<br /> intere,st of Boaowu shall not operate to release the liability of the original Bocrower or Boirower's successor in intems� �,�'—
<br /> � I.ender shall not be required to commence proceedings agaInst eny suceessor in interest or refuse to extend ttme for
<br /> "- payment or othe:wLse modify amortizedon of thn sums sec�ued by this Security Insuument by reason of any demend .�.,�-
<br /> �_' �_ ., made by the odgi�al Botrower or Bonower's successors in interest My forbearance by I.ender in exe�cfsing any right �=`,_L
<br />��:. � or remedy shall not be a weiver of or preclude the exercise of any right or remedy. E=�
<br /> �: - 12.SuccGSSOrs �and Assigos Bound;Jotnt and Several Liabiltty;CaSlgaers.The covenants and agreements o�
<br /> .f this Security Insaument shall bind and beneSt the successors and assigns of Lender and Borrower, subject to the �`�
<br /> s�. ---
<br /> provLvions of paregraph 9(b). Borrower's covcnants nnd ugreements shall be joint end sever�l. My Boaower who
<br /> ___ ..• - co-signs this Security Instrument but dors not eaecute the Note: (u) is casigning this Security Instrument only to -__ ___
<br />_- . • mortgage,grant a�d convey that Sorrower's interest in the Property undear the terms of this Seciuity Instrumen� (b)is �' �-
<br /> :"� not personally obGgated to pay the s�uns secumd by this Security Instrument;and(c)agrees that I.ender and any other -
<br /> �"'' '° ' Borrower ma a W extend,maiify,forbear or make an eccommodations with re ard to the temns of this Securi
<br /> _s! �5S':�;.... y � Y g h►
<br />_ Instrument or the Nate without that Borrower's consenE.
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