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<br />; . : E (iy AU or part of the Property.or a beneficial interrst in a uuse owning all or part of the Property.is sold . i 4 ,
<br />, _,_ _-: � or othetwise trmsferred(othcr than by devise or descent).and ; , •
<br /> - - ;.' ; (ii)The P[operry is nat occupied by the purchaser or grantee as his or her principal residence. or the
<br /> - - -- --� purchaser ar grantee does so occupy [he Froperty but his or her credit 6as not been approved "m ----� —
<br /> . . ,. �; asoordance arith the zequirements of the Secretary. • . �z :
<br /> �.` �� ' (c)No V�'atver. If circumst�nces occur that would permit Lender to require immediate payment in full,but ... �, ,
<br /> �F ' � . "�� Lender does not require such paymeau,lender daes not waive iu rights wit6 respect ta subsequent events. , .�;°, « ��.-
<br /> _-, - (�RegWations of HIJD Secretary. In many cir¢umstances segulatioas issued by the Secretary arill Iimit _ -.. _-
<br /> <'�' . � Lender's rights, in the case of payment defaults,to requue imrnediate payment in fiili and foreclose if not , �
<br /> ?`< . , paid.This Security Ins �+�+�!±*daes nat authorize acceleration or foreclosure if not permitted by regulations • �:�. _ .
<br />�� _ � of tfle Secrerery. ' rv -. -
<br /> �." (e)Mortgage Not Iasm�ed.Borrower agrees that if this Security Insuument and the Note are not determined ��,•��1�.
<br /> '' � to be eligible for ias�uance under the National Housing Act within 60 days from the date heieof, Lender - .�` `� ��.`
<br />.i� , � .�
<br /> "�' " . may.at iu opuon, reciuire immediate payment in full of all sums secvred by this Security Insuument. A : •..e:=,
<br /> :�:••. , ' --
<br /> ..r`.. , written statement of any authorized ageat of the Secretary dated subsequent to 60 days frotn the date hereof, . .: ��,�,
<br /> � declining to insure this Security Insuument and th� Note, shall be deemed wnctusive proof of such •'-"
<br />�'-<.. � ` '�{.,_:_
<br /> j; ineligibility. Notwithstanding the foregoing, this option may not be exercised by Lender when the ,,,�_
<br /> :i�: . . . -. - unavailabiliry of insurance is sotely due to Lender's failute to remit a mnrtgage insuranse premium to the , ::_�'��
<br />�s - � - ' �-- - � .�-=
<br /> ., • :.�� S�,. . �-
<br /> F��� . 10. Retastatement. Borrower has a right to be reinstated if Lender has required immediate payment in full � `~�,i+
<br /> -. � ' ,•:�. -
<br /> :F�� . because of Borrower's failure to pay an amount due under the Note or this Security Iastcument. This right applies , -__
<br /> ��:,._:�;,...
<br /> evea after forecIosuie pmceedings are instituted. To reinstate the Security Instrument, Borrower shall tender in s ;_;�:;
<br /> - � ` lump sum all amounts required to bring Boaower's account cunent including,to ti�e extent they are obligations of __ '"�'��--��
<br /> �.,�_.
<br />'�'s . Borrower under this Sea�rity Instrument.foreclosure costs and reasonable and customary attomeys'fees and eapepses ' x`-_:�=_
<br /> . � u....::�.,
<br /> . properiy associated with the foreclosure pmceeding. Upon ninstatement by Borrower,this Security Instr�ment and " �:}�4-ax�
<br /> `'1 � the obligations that it secures shall remain in effect as if Leader had not required ima�ediate paymeat ia full. �!��;�:
<br /> ;,�: ., t j`^.�--.
<br /> • • , • However, Lender is aot iequired to pecmit reinstatement if: (i) Lender has accepied reinstatement after the . _T��
<br /> } � , commencement of foreclosure proceedings within two years immediately preceding the commencemeat of a curreat '�:: ��•
<br />.:>� ' � ' � � foreclosure pmceeding, (ii) reinstatement will preclude foreciosure aa differrnt grounds in the futuce, or (iii) . . :�-•�T.'',
<br /> •:;� , reinstatement will adversely affect the prioriry of the lien created by this Security Iusnument. • � �,: � :.�:-;,r:_
<br />_ ' 11. Borrower Not Release�; Forbea�snce By Lender Not a WaJver. E�ctensioa of the time of payment or . , "=����•
<br /> c.r.3'
<br /> . � � - modification of amortizatioa of the sums secured by this Security Iastrument granted by Lender to any successor ia =->
<br />. - . �.� .4(^..�
<br /> ' � interest of Boaower shall not operate to release the liability of the original Bonowerwr Borrower's successor in •
<br />- . , � • interest. I.ender shall not be required to commence proceedings against any successor in interest or refuse to emend �.�!s�`
<br /> �'��'; � � ' , time for payment or othetwise madify amortlzation of the sums secured by this Securiry Instr�ment by reason of aay ' .. . . `��z_
<br /> ' • demand made by the original Borrower or Boaower's successors in intesest.Any forbearance by Lender in exentising � ; . ��-
<br /> • � any right or cemedy shall not be a waiver of or preclude the exercise of any right or remedy. �• � `�'�'
<br /> � IZ.Succ�sors and Assigns Bound;Joiat and Several Liabllity;Co-Signeis.The covenants aad agreements ' ` : ,_ .' "°'�'�
<br /> ..,..
<br /> ��;:''� = of this Secwiry lastrument shall bind and benefit the successors and assigns of Lender and Borrower,subject to the ; , -
<br /> . � provlsions of paragraph 9(b). Bonower's covenants and agreements shall be joint and several. Any Borrower who � � _
<br /> . ' . co-signs this Security Instrument but daes not eaecute the I�Iote: (a) is co-signiag this Security lastniment onIy to •
<br /> � mongage.grant and wnvey that Borrower's interest in the Properry under the[ermv of this Security lnstrument;(b) • - '
<br /> . is not personally obligated to pay the sums secured by this Security Instrumeat: and(c)agrees that I.ender and any �_ � ' �
<br /> other Borruwer tnay agres to euend,modify, forbear or make any accommodations with regard to the terms of this ; ,
<br /> ! Securiry[nstrument or the Note without that Bonower's consent. _ .,:
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