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<br /> • (i)All or part of the Properry.or a bens�cial interest in a tnut awning all or part of the Property.is sold � f � , • �
<br /> or otherwise transferred(other tban by devise or desceny,an d ,., .
<br /> (ri) The Property is not occupied by the purchaser or grantee as his or her principal residencx, or the •
<br /> - pur�haser or �,�antee does so accapY the PmPenJ► but h9s or her credit has not been approved in -.-.------ _
<br /> .� accordance with the requiremenrs of the Secretary. . _
<br /> (c)No Waiver.If circ+*+n�n�PC a�ur thac would permit Ixnder to require ttnmecliate payment in fiill, but �. ,� ,
<br /> Lender does not require such payments.Lender does not waive its rights with respect to subsequent eveuts. � , _ . ,
<br /> (d1 Regnlatlons of HUD Secretary. In many circumstances regulations issued by the Sectetary will limit , .;..,:- ._- `-- .
<br /> Ixnder's rights,in the case of payment defaulu,to require immediate payment in full and foreclose if not
<br />; paid.This Security lnstmment does not authorize acceleration or foreclosuie if not permiued by�iladons • Y-
<br /> of the Secretary. . . -. ;�';
<br />• (e)Morigage Not Lns�smed.Borrower agrees that if this Security Insaument and the Note aie not dete�ined ,i �� -�;==-
<br /> to be eligible for insurance under the Natioffal Housing Act widrin 60 days from the date hereof, Lender � : �:,`•:..�r=_-.`
<br /> � may. at its option, reqnite immediate payment in fiill of all sams secured by this Security Instrumeni. A , =
<br /> • written statement of any a�;zhorized agent of the Secretary dated subseqneni to 60 days from the date hereof, • �-�- ��
<br /> ,� �.. _
<br /> � declining to insure tlris 5ecuriry Instnmient and the Note, s6a11 be d�emed wnclusive proof of such ;< ��
<br /> . �.��;�-;--
<br />, in�ligibility. Notwiths�wding the foregoing. this option may not be exercised by L.ender when the .5 t,�,,___'
<br /> unavailability of inst�*�n�is solely due to Lendei s failure co remit a mortgage insaiance premium to the '�-.::
<br /> 5ecretary. . `."."`��
<br /> 10.Reinstatement. Borrower has a right to be reinstated if Lender 6as reyuired immec6ace payment in full �;
<br /> ";' , „'�!�".'_
<br /> because of Roaower's failure to pay an amounc dne under the Note or this Security InsaumenG This right applies . . ,s-
<br /> even after foreclosure proceedings are instituted. To reinstate the Securitp Instrument. Borrower sball cender in a .. � - . «.�.
<br /> "-; lUmp sum all amonnu required to bring Boaower's accouni carrent includiuS,to the extent they are obligations of -` -���.._
<br /> -�*,--
<br /> ,t Borrower under this Security Instr��nent.foreclosure costs and reasonable and cnstomary attorneys'fee.s and expenses ��� : -
<br /> R property associated with the foieclosure proceeding. Upon reinstatement by Bocrower. this Security rncer�_ei!r and '. .;;;,�; : '�.
<br /> _ { ' ;�r.:
<br /> �; the obligations [hat it secures sha11 remain in effect as if Lender had not iequired immediate payment in f�U. � ��`�'
<br /> •� ��-
<br /> However, I.snder is not required to permit reinstatement if: (i) Lender has accepted reinstatc�ent aRer the ,
<br /> ; commencement of foreclosure proceedings within taro years immediately preceding the commenceme�nt of a wrzent .;r :
<br /> ' foreclosnre proceeding, (ii) reinstatement will pieclude foreclos�re on different grounds in the famre, or (iii) �� ��,. ; ,
<br /> � reinstatement will adversely affect the priority of the lien created by this Sewrity Instrument. :��: � �,�# :' '
<br /> _ � 1!. Borrower Not Yteteas�; Forbearance By I.ender Not a Waiver. Extension of the time of payment or °f ,
<br /> madificadon of am�nization of the sams secured by this Secu:ity Instrnmeni granted by Lender to any successor in � �
<br /> 't interest of Borrower shall not operate to release the liability of the origi�a! Borrower or Borcower's succ�sor in �- t�
<br /> � �t' .='-
<br /> interest.Lender shall nnt be required to commence proceedings agai�nst any successor in interest or refuse w extend �'°� ;�
<br /> � � time for payment or otherwise m�.dify amortizadon of the sums secured by this Security Insmiment by reason of any .'�i.;-
<br /> . E demand made by the ori�inal Borrower or Boaower's successars in interest.Any forbearance by Lender in exercising �" ',-�;:
<br /> , any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. ��"_ --
<br /> 12.Snccessors aad Assigns Bound;Joint and SeveQal UabSlIty;Co-Signers.The covenants and agreements ------�,-,
<br /> � of dus Secarity Iasuament shaU bind and benefit the saccessors and assignc of Lender and Borrower.subject to the ..,
<br /> � pravisions of paragraph 9(b). Borrower's covenants and asreements shall be joint aad several. Any Borrower who _ _
<br /> � co-signs this SeWrity Insttument but does not execute the Note: (a) is co-signing this Security Instrament only tn ''=�'�• . � �
<br /> �' � mortgage.g�ant and convey tbat BorroNer's interest in the Prc�perty under the ternis of this Secutity Instr�ment; (b) �• . . ..�'-,
<br /> is not personally abligated to pay¢tie sums secared by tiris Security Instrument: and(c)agrees that Lender and any . ` .,_�,�--- `_� '
<br /> other Borrower may agree to extend. modify,forbear or make any accommodations with regard to t��tenns af this �`"-"-�-!" _---�`"i�--
<br /> Sec.vrity Instrument or the Note without that Bonower's wnsent. ����''_�` -
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