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<br /> 1 (i)All or part of the Property,or a hencficial interest in a trust owning aU or pan of the Property,is sold or ` �
<br /> .; otheawise vansfar�d(other tuas►by dcvi�e or descent),and p � _--_
<br /> ' (ii) Ths Property is not accupied by the puzchaser or grantee as his or her principal residence, or thc Y - _
<br /> � puichaser or grantee dces so occupy the Property but his or her credit has not bee.�►appmved in accordance � . � ��
<br /> .� with the requiraments of the Secretary. . ., t ' �"�
<br /> (c)No Waiver. ff circumstances accur that would permit Lender w require immediate payment in fuU, but � : �' �
<br /> - I.enu�c u�,rci:�nir��uch pa;zn�ts,I.ander�s no*_waive icc righu with respect w subsequent events t..-----. - . --- --:-__—
<br /> • (d) Regulations of HIJD Secretary. In many cucumstances regulatioas issued by the Secretary will limit � . " . —
<br /> Lender's rights,in the case of payment default4.to ncluire immediai�payment in full and foreclose if not paid ' '.� ---
<br /> Tt�is Security Insuuraent does not authorize accel�auon or fonclmsure if aot permiued by regulations of the � °� �. • '-_'
<br /> Secretary. . ' . --- •�_�.-
<br /> (e)Martgage Not Iasmred.Borrower agrees thai if this Security Instnunent and the Note are not determined to ``- :"".± ;�
<br /> �. be efigible for insurance under the National Housing Act within 60 days from the date bereof,Lender may,az � � "�' • ' ,�,=�
<br /> its opiion, require immediate paymeut in full of all swns secured by this Sec.�uity Insorument A wriuen � � r —
<br /> .. statement of any suthosized agent of the Secretary dated subsequent to 60 days from the date hereof,declining �- .` - �' _;
<br /> ; w insure this Security InsLniment and the NoLe,sha11 be dcemed conclasive pmof of such ineligibility. t,�;.�.' � T " `
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<br /> Notwit6standing the forego�g, this option may not be ea�ci.sed by I.ender when the unavailabiliry of ��-,�,Y
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<br /> ms�ance is soSaly due tn Le�edea's failure w remit a mortgage insurance premium to the Serretary. ��.. ;�; ' :-r,;:�--
<br /> 1 0.II 2�i n s t�temen L Borrower h a s a rig h t w b e re i a s t a t e d i f L e n d e r d a s r e q u i r e d i m m e d i a i e p a y m e n t i n f u ll b e c a.u s e !� �`` "
<br /> • of Bormwer's failure tn pay an amount dus undea the Note or t6is Sequity Instrument This right applies even aftea � ;t'��..',c� '
<br /> foreclosure proceed'u�gs are instituted. To reinstate the Security Instrument, Bomower shall tendea in a lump sum all 'r �• � r'--'
<br /> �:4 . . .'��,�;.�1 :�: �
<br /> amonnts required to brc��Borrower's account currer►t iacluding,to tlae extent ihey are obligadons of Borrower under . , •3 � .
<br /> this Seauity Insuument, forectosnre costs and re�sonable and customary auomeys' fees and expenses properly • +;�j ` 7 :
<br /> associated witb the foreclosure p�d'u�g. Upon reinstateuaent by Borrower. this Security Insorument and the .
<br /> .` obligations that it secures shall rema�in effect as if Lender tsad not nquired immediate payment in fiill. However, ,�,;;� �. ��
<br /> '`'`�� I.ender is not required tn pem�it re�s�atement if (i) Lenda has accep0ed reinstatement a�'ter the commencement of •� _
<br /> foreclosure praceedings within two years immediately preceding the commencement of a current foreclosure `�`�� �J..�� �
<br /> proceeding, (ii)reinstatement will preclude foreclosure on different gounds in the future,or (iri) reinsmtemwi will ;� >- . �
<br /> adv�sely affect the priority of the lien created by this Securiry Insmunent � ��-. � ���
<br /> 11. Borrower Not Reteased; For6earense Sy Lender Not a Waiver.F.�ctension of the time of payment or � ,.�;, • �: _;� �, '��
<br /> madification of amo�on of the sums secured by this Sec�iry Insm�meait granted by Lendea to any successoz in �"°�!.-•���� t� �
<br /> 8�
<br /> interest of Borrowes shall not operate to re2ease the liabili of the original Bosower or Borrow�'s successor in iaterest �. .�'"' ''`—-�•�
<br /> ty � :f .,..rm{_,.
<br /> � Lender shall not be required to commence pmceedings against any successor in interest or refuse to extend time for . ..,�,+ �;•-��°L_
<br /> C"T�.�7.. +�".'�..1----
<br /> payment or othelwise mo�ify amortizatron of the sums secuced by this Serurity Instrument by reason of any demand `� .�`�� -''�
<br /> . made by�he original Borrower or Bomowe,r's suscessors in interesr.My forbearance by L,ender in eaercising any right .. :' `�� ' ��
<br /> or remedy s.hall not be a waiver of or preclade the exeacise of eny right or remedy. "�•'•�
<br /> � 12.Successors and Assigns Bound;Jotnt and Several L;a6ility;Co-Siguera 7t►e covenants and agreements of :• �
<br /> this Security Insuument shaU bind and benefit the successors and assigns of Lendea and Borrower, svbject to the ;=:a�- �S
<br /> . provisions of paragraph 9(b). Bolrower's covenants and agreements sdall be joint and sevesal.My Borrowea who ,`���'.�u
<br /> • co-signs thic Seciuity Insuument but dces noi execute the rtotc: (a) is co-signing this Security InsUUment only w """� .' —
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<br /> mortgage,grant and convey that Borrower's inuxest in the Propeaty under the terms of this 5ecurity Inswma►t;(b)is _..��,4��
<br /> not persanally obligated w pay the sums secured by this Security Insdrumen�and(c)agees that Lender and any offier , ��;-;�-=�_.-_
<br /> 4 Borrower may agree w eatend,modify,forbesic or make any accommodations with regard m the trams of this Securiry �.: _
<br /> Insuument or the Note without that Banower's cansent `'?��"�'' `'�� "
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