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<br /> -- (i)All or gart of the Property,or a beneficiai interest in a trust owning all or part of the Properry,is sold I ` _ ' .--
<br /> � or otherv�rise uansferred(other[ban by devise or descent).aud �. - � � •,'�
<br /> �i)The Property is not occupied by the purchaser or gtantee as his ar her principai residence, or the
<br /> pu�haser or grantee does so occupy the Praperty but his or her credit has not been approved in . _ � —
<br /> accordance with the reqniiements of the Secretacy. � -
<br /> (c) No Waiver.If cinvmstances occur that would permit Lender to requite immediate payment in full,but � .. _
<br /> � , Lxnder does not require such paymenrs,Lender does not waive its rights with respect w subsequent events. _ • � ,;;�_� ._,,i-
<br /> (� Reg�ilatIons of AUD Serretary. In many circamstances regulations issued bp the Secietary wiU limit • �
<br /> Lender's rights. in the case of payment defanits,to require immediate payment in full and fotectose if not � . `'` o=�--
<br /> ' paid This Secarity inn**�-°nt daes nnt anthnrize acceleration or forecl�sare if r�t�ermiued by reguladons , :�.�;���
<br /> of the Secretary. ' ' � :~�" `�,:Sa:
<br /> . (e)Mortgage Not ir�ed.Borrower agrees that if this Security Instn�nent and the Note are aot dete�ined �„ � ��:����d� _
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<br /> to be eligible for insurance under the National Housing Act within 60 days fram the date hereof, Lender -.• "
<br /> � ujay,at its option, �equire immediate payment in fnll of all s�s secaced by this Security Instrmne�. A , . �'"�, �•
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<br /> written statement of anp authorized agent of the Secretary dated sabsequent to 60 days from the date hereof. ; '' 3. ` � ,
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<br />� - declining to insure this Secarity Insaument and tfie Note, shall be deemed conclusve proof of snch _ ____. ���':�' -
<br /> .-: ineligibility. NotwitluYanding the faregoing, tlris option may not be eicercised by Lender when the '�
<br /> � � unavailability of insurance is solely d�to I.ender's failure to remit a mortgage insurance p3emivm w the ���'��� � v`
<br /> - Secretary. ,,
<br /> 10. Reinsta3ement. Borrowzr i�as a right to be reinstated if I.ender has required immediate payment in foll ' � .—
<br /> becavse of Borrower's failure to pay an amonnt due under the Note or this Securiry Instmmen� This right applies
<br /> • even after foreclostue proc�edings ate instiwted. To rei�state the Secarity Insavmeni, Bormwer shall tender in a ,.��: .��=--�
<br /> � lumg smn all amonnts r�qnired to bring Borrower's account current including, to the exteni they are obligadons of ':�,:,i� •5° - _
<br />• Bormwer under this Security Insmrment,foreclosure cos�ts and reasonable aad customary attorneys' fees and expenses �-� - t`. , _
<br /> " properly associated with the foreclos�ue pmceeding. Upon reinstatement by Borrower.this Security Insuament and ��"�-� �`� :% –
<br /> � the obligations that it secuies shall remain in effect as if Lender had not required immediate paymeai in full. ��:,.�F��� _–
<br /> . Howwer, Lender is not tequired to permit reinstatement if: (i) Lender has accepted reinstatement after the �� = „�.':: �•
<br /> - commencement of forclosare proceedings within two years immediatelq preceding the commencement of a cunent -'.'�"t:: � -- :�. , ...
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<br /> foreclosure praceeding, (ii) reinstatemeat wiIl preclude foreclosnre on digferent grounds in the fatare, or (rii) ` �.::--
<br /> reinstatement will adversely affect die priority of the lien created by this Secarity Insuument. �•, 1 ��� `• �`
<br /> . 11. Borrower Not Released; Forbearance By Lender PIot a Waiver. Extension of the tirne of payment or �:�_
<br /> modification of amortiTation of the sanns secared by this Secarity lnstcumens granted hy Lender to any successor in '�_��-�
<br /> interest of Borrower shal] not operate to release the liabilitq of the original Barrower or Borrower's saccessor in �;,.. :-�"'
<br /> inierest. I.ender shall not be mquired to wmmence proceedings against any successor in interest or refuse to emend �.-- . '�` _.
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<br /> ��,� time fir payment or otherwise modify amortizatian of the s�s secared by this Secuaity Instnmmeni by reason af any � �°
<br /> demand made by the original Boaower or Boaower's successo�s in interest.Any forbeazance by Lender in exercising ��--��`����
<br /> . ..� any right or remedy shall not be a araiver of or preclnde the exercise of any right or remedy. ���,
<br /> -.,� 12. Saccessozs and Asslgns Bmmd;Join!and Several I.�abEUty; Co-Signws.The covenants and agreements ;.��,'`,
<br /> of this Sesairiry Insuament shall 6�ind and benefit the successors and assisns of I.ender and Bonower. sabjert w the �'�-�� =`
<br /> esa ri
<br /> � pravisions of paragraph 9(b).Boaower's wvenants and ageements shall be joint and several. Any Bonower who y���
<br /> :! co-signs this Security InsaumenE but does not execute the Note: (a)is co-signing tlris Security Insuument only to ,%'�����e�-n —
<br /> � mortgage,grant and wm+ey that Bonower's interest in the Property nnder the terms of tlris Security Instrument:(b) :�;;`��'.,,;'°"�,;,�-.-_.
<br /> :. � is not personally obligated to pay the sams secured by this Security Insuument;and(c)agrees that Lender and any ..,y�� +� •'
<br /> ' ' other Borrower may agree to extend,mo�lify. forbear or make any accommodadons with mgard to the terms of this � ..�z
<br /> . . .`' Secarity Insuument or the Note without tLat Borrower's consent. �"'��"'" _
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<br /> ���RINE)�aeon v,q•a oe e IMiab:�f�. .
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