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<br /> (i)All or part of ttte Fmpeaty,or a beneficial int�+est in a trust ovming all or part of the Property,is sold or . � � .` -�
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<br /> • otherwise uransfeared(other thau by devise or descent).and
<br /> (ii) 7t�e Property is not occupied by the purehaser or grantee as his or her principal residence, or the . � __
<br />.-�- Rurchascs or�antee d�s sn occupy the Pro�erty but his or her credit has not been approved in accordance ._ _ �
<br /> —=�-. . '
<br /> with the reqairemeats of the Serretary. � � _ �'_.
<br /> �_ (c)No Watver.If cincumstar►ces occur that would pemut Lender w require inamediate payment in full,but ..' ...�
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<br /> I.ender does noi require such payments,Lendea does not waive iss rig4ts with res�tect to subseyuent eveuts. � :'z �--n•�-�..
<br /> � (d) Regolations ot HLJD Secredary. In many citcumstances iegulaiions issued by the Secretary will timit , '.. .. r.�
<br /> Lender's rights,in the c�se of pa}+ment defaults,to requae immediate payment in full and foreclose if aot paid - - ___
<br />. ' 'Ibis 5ecurity Instrument does aoi autharize acceleratian or foreclosure if not peamitted by regulations of the , ;���`"`
<br /> Secretary. , , >9:;�.-;-._-,�
<br /> (e)Mortgage Not Insured.Borrawer ag�ees that if[his Security lnstrumenY and the Note are aot deoeirnined to " �; . -
<br /> be etigible for ins�uance under the Nazional Housing Act within 60 days from the date hereof,Lender may.at E�e.���"'""`:_
<br /> . its op�on, r�4uire immediate payment in full of all sums secu�i by this Sec�uity Insuumeat A writi�n . .. �`_'" --
<br /> •' statement of any authorized agent of the Secretary dated subsequeut to b0 days from the date hereof,declmiAg � `--�- —�--
<br /> • W insmte this Secauity L�suument and the Note, st�all be dee�ned conclusive proof of such inelig��7ity. .�' ��'
<br /> IVotwithstandir►g the foregoing, d�is option may not be exe�cised by Lender ahen the unavailabi7'iiy of � ry-=
<br /> _ =�--_
<br /> insurat►ce is solely due tn I.eadea's failure to remic a mongage iustirance premium w the Secaetary. _�r�: _-.-:
<br /> � - 10.Reinatatemen�Boaower has a righi to be reinstaied if I.endea hag required immediat�paymea�t iu full because • ..:
<br /> of Borrower's failure tn pay an amount due under the Note or this Security Inswmeat'EUis right applies even aftra • ,.��
<br /> � foreclosure p�ceedings are instituted.To reinstate tlie Sec�nrity Instrument, Barrower shall tender in a lump sum all �_,�:.�:°;,�
<br /> ;.� amounts required w bsing Bormwer's account ciurent mcluding,w the extent they are obligations of�orrowe,r iu►dea ::_. ` � ` ..•.
<br /> this Secanriry Inslrament, foreclos�ue oosts and masonable and customary atwmeys' fees and eapenses properly �'.'
<br />.;��;:> . . _
<br /> �'"� associated with the foreclosure proceeding. Upon reinslatement by Borrower, this Security Instrvmea�t and the '—
<br /> � � obligali�ons that it secures shall remain in effect as if Lender had not required immediate payment in full. However. �
<br />� - Iender is not required w peamit reinstatement if (7 Lender has accepted reinstatement after the commencement of ---
<br /> . • foreclosu� prncoedings with;n two yea�s nnmediately p�cedi�ng the commencemeat of a cu�rent foreclos�ue _
<br /> o ec
<br /> . " proceeding,(u�reinsrater.r►e�i wiil preclude forectosvre on different grouads in rhe fupue,or(iii)reinstatement will �-�:�', `�� .
<br /> : adveasely affect We prioriry of the 6en created by this Se�urity Instrument �.•: '� ¢�`�.r__-.
<br /> . 11. Borrawer Not Rek�s2d; Fo^bearaace By Lender Not a BVa[ver.Extens9nn of the time of payment or `• �`
<br /> : modffcation of amortizanion of the sums seciued by ihis Security Ins�usent gcanted by I.endea to any successar in �`�'
<br /> , - iniar�of Borrower sdall not og�ate W m1�se the liability of the orig�al Bo�rowe�m Bormwea's succ�ss�in in�rest. ?!'f,'`�`'
<br /> � '• -• :
<br /> � • Lender shaU not be required to commence Proceedi�8s against any successor in int�or refuse to extend time far f�� _-����
<br /> . payment or othetarise modify amorti�ion of the sums secured by thiis Socurity Instrumeut by reaton of any demand �y2'`
<br /> made by the original Barrower or Borrowea's successors in interest.My forbearance hy Lender in exer�ising any right ��
<br /> � ; or re�edy shall not be a a+aiver of or preciude the exercise of any right or rernedy. �;,�„�,��.._� -
<br /> ' 1Z.Saccessors aad As.dgns Bouad;Joint and Several Liab�ity;Co-Sigaers.The covenants and a�erments of " � •_���
<br /> '� this Security Instrument shall bind and beneflt the successais and assigns of Lender and Boxmwea, subject to the '
<br /> i
<br /> . �....� provisions of patagraDh 9(b). Borrower's covenants and agreements shall be joint and several. My Borrower who _. . ��_
<br /> co-signs this Security Instrument but daes not execute the Note: (a) is co-sigaing this Security Instrument only w �`: , x-
<br /> mortgage.grant z�.�convey tuat Borrower's inteaest in the Prop�rty under the tcrms of this Ser�uity Instrumcnt;(b)is �'�`"='"c°"'�'
<br /> ' not pasonally obsgated w pay ttce sums secured by this Seauity Instrumeat;and(c)agrees that Lender and any other �' '`�'�iO�'�:�
<br /> Sorrower raay agree to eactea�d,madify,forbear or make a�y accommodarions with regard to the teams of this Secaai.r3; .�-.=.,,..-;.•: � -.:.-'---
<br /> � Inswment or the Note without that Borrower's consent :.. °' '�
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