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<br />,� (i)All or part of the Property,or a beneficial interest in a nvst owning all or part of the Property,is sold � �. • �
<br /> or otherwise nansferred(other than by devise or descent),and � � •
<br /> (ii)The Prnperty is not occupied by the purchaser or grantee as iris or her principal residence, or ths � - -- �--,---. �-a
<br />�� purchaser or grantee does so occupy the Property but his or her credit has not been approved in ! • ��
<br />. � accordance with the requirements of the Secretary. .• ...._V-,,�,��•
<br /> (c) Ioio Watver. If circunostaucxs occur that would permit Lender to require immediaze payment in full.but ' -- _
<br /> � Lender does not require such payments,Lender da�s not waive iu rights v+ith respect to subsequent events. ; ,h �
<br /> (� RegulatIonc oY HUD 3ecretary.In many circumstances regulations issued by the Secretary wiU limit �.. , ..���� —
<br /> �� Lender's rights, in the case of paymert defaults,to require imm +a p payment in f u l l an d forec tose i f n o t ; ,,_� _
<br /> � paid,This Security Inshument does not authorize acceleration or foreclosure if not permitted by regulations k, �--..--__
<br /> of the Secretary. - �
<br /> i (e)Mortgage Not Insured.Bflirower agrers tt�at if this Secvrity lnstrument and the Plote are not determined •
<br /> :; to be eligible for insurance ua�er the l�iarional Housing Aa within 60 days from the date hereof. Lender _
<br /> ( maY, az its option, reqtnire immediate pay�..°nt in full of all sums secured by this Secutity Instn�ment. A . ��
<br /> wriuen statemeat of any authozized agen¢of the Secretary dated subsequen[to 60 days from the date hereof, ;"''`�"�'t`°'�__
<br /> i .:...,.,=-_
<br /> i declining to insure this Secu�ety Instrument and the Note, shall be deemefl canclusive groof of such
<br /> 1 . � �:�
<br />, � ineligibility. Notwithstandino the foregoing, this oprion may not be ese�ised by Lender when the ,y�-'^� -
<br /> unavailabiliry of insurance is salely dae to LQVder's failure to remit a mortgage insurance premium to the . -���• `�`�''�'
<br /> :s . . � ',.�.
<br /> Secrecary. ..
<br /> :�• 10.Reinstatement. Bonower t�as a right to be reinstated if Lender has rec}uired immediate payment in full • ;' _,:;.
<br /> as
<br /> .�,:�., -
<br />.7 because of Borrower's failure to pay an amount due under the Note or this Security Insuument. This right applies ,
<br /> even after foreclosure pmceedings are instiruted. To reinstate We Security Instrument, Borrower shaU tender ia a _,*:� "_ _ ,'�
<br /> lump sum all amonnu a�,quired to bring Borrower's acconnt aurent including,to the extent they are obligations of �+s. . t�
<br /> Bonower uuder this Security Instrument,foreclosure cosu and reasonable and cnstomary atiomeys'fees and expenses � _� •`}� °: _-
<br /> property associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Securiry Instrument and � • ,� �
<br /> the obligations that it seaues shall remain in effect as if 1-ender had not required immediate payment in full. .�a,�� ' ` %� , . _
<br /> Howeve;, i.ender is not required to permit reinstatement if: (i) I.ender has accepted reinstatement after the . . ,�- - �; •:
<br /> .� commen�zment of foreclasure psnceedings witha�3 two years immediatety preceding the commeucement of a current �'�'"� ' :+ - �
<br /> foreclosure proceeding, (u) reuutatement will przcIude foreclosure on different graunds in the future. or (iu) S '�' � '' �
<br /> reinstatement will adve�sely affect the priority of the lien created by this Security Instrument. �. �� -• c`c�
<br />' 11.Borrower Not Reteased; �'�rbrsrance By Lender Not a Waiver. Extensioa of the time of payment ar , ,�`.- � �
<br /> modification of amortizatian of the swns secured by this Security Instrument granted by Lender to any successor in ���:, `�.�'�,• ••�'
<br /> • �
<br /> interest of Boaower shall not operate to release the liability of the original Boaower or Borrower's successor in �_
<br /> intetest.Lender shall not be reyuired to commence proce�dings against any successor in interest or refuse to extend �, �1°.�-��
<br /> time for payment or otherwise modify amortization of the sums secured by this Security Insuument by teason of any ,;;�f;�• ��"_ _
<br /> demand made by the original Borrower or Borrower's successors in interest.Any forbearance by Lender in eaercising ..-��,.;:,s;��"?`; '"
<br /> any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. ��`��"-� �`� ----
<br /> 12.Successo�s and Assigns Bo�d;Jaint and Severaf Liability;Co-Signers.The cavenants and agreements =--T-�''��
<br /> of this Securiry Instrumenc shali bind and benefic tL.successors and assigns of Lender and Borrower,subject to the _='�'��--'� --
<br /> pinvisions of paragraph 9(b)• Borrower's covenants and agceements shall be joint and several. Any Boaower who �-`��""
<br /> co-signs this Security Instmment but does not execute the Note: (a) is co-signing this Security Insuument only to __� �` • � �
<br /> ��. .` �
<br /> m�ortgage. gaant aad convey that Bo�wer's interest in the Properly under the terms of this Security Insuumenr, (b) �.�_,.;y,.,_�,.._,
<br /> is not petsonaUy abllgated to pay thE qums secured by this Security tnstrument; and(c)agrees that Lender and aay , ••'�' �'''�'°"°�P'
<br /> -rr,�r--'���..:.���!�'.'_:.
<br /> other Borrower may agee to eatend. modify,fo�r or make any accommodations arith regard to the terms of tlus -=��,>�,.� —
<br /> Security Instrument or the Note without that BorraA•er's consent. � "",r"'°`,"'�;
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