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<br /> � (i)All or part of the Property, ot a beneficial interest in a trust owning all or part of the Property, is sold ` ' ��
<br /> 1 or othenvise transferred(other than by devise or descent),and • . . �
<br /> '- (ii)'4'he Property is not occupied by the nurchaser or gran[ee as his or her printipal residence, or the (. . �' �
<br /> ;�a pucchaser or grantee does so occupy the Property bu[ his or her credic has not been apgroved in �- •• , �
<br /> , accordance with the requirements of the Secretary. . . --
<br /> ' (c) No Waiver. If circumstances occwr that would permit L.ender to require immediate payment in full, but ,
<br /> Lender does aot require such paymenu,Lender does not waive iu rights with respect to subsequent evenu_ �. - ' _
<br /> �' (d) RegulatIons of H[JD Secretary. in many circumstances regula[ions issued by the Secretary will limit . .-:;;`;`
<br /> ; Lender's righu, in the case of paymeat defaulu,to require immediate payment in fiill and foreclose if not , ; •t
<br /> • paid.I'his Securiry Instniment does not authorize acceleration or foreclosure if not permitted by regulations � .. . .,.,;''�
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<br /> ' • of the Secretary. � '�", =_,�.
<br /> ` (e)biortgage lYot Insured.Borrower agrees that if this 5ecurity Insmiment and the Note are not deterwined , � . ��,`,•.,.�---
<br /> t to be eligible for insurance under[he National Housing Act within 60 days from the date hereof. Lender - _
<br /> � may,at iu option. require immediate payment in full of all sums secured by this 3ecurity Instrument. A , � ;-._��: .
<br /> ; written s[atement of any authorized agent of the Secretary dated subsequent to 60 days from the date hereof, ��� � 'r
<br /> declining to insure this Securiry Insuvment and tkie Note, shall be deemecl condusive proof of such . � '.�� �
<br /> • .r;�_,.,�
<br /> � ineligibility. Notwithstanding the foregoing, this opaon may not be exercised by Leuder when the • :' •.��.�
<br /> unavailability of insurance is solely due to Lender's failure to remit a mortgage insurance premium to the -�"-`
<br /> Secretary. - ��-_-
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<br /> 10. Retasta3ement. Borrower has a right to be reinstated if Lender has required immediate payment in full .. • ,;��
<br />'� �. hecause of Borrower's failurc[o pay an amount due under the Note or this Secvrity I�strumeat. This right apglies ;.; � �� �
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<br /> even after foreclosure proceedings are instituted. To reinstate the Security Instrument, BorroW+er sha11 tender in a � Y,FY,�^ ^�
<br /> ` lump sutn all amounts required co bring Borrower's account current including, to the extent they are obligations of ' `r
<br /> Borrower undec this Securiry Inscrument,foreclosure cos[s and reasonable and customary attomeys'fces and expenses .,
<br /> in . U on reinsiatement b Borrower,this Security Instrument and . 'R�' ��:`�•_•'.�,.-
<br /> properly associated with the foreclosure proceed g p Y r ,eX�,:. •:�t; , ___
<br /> the obligations that it secures shall remain in effect as if Lender had not required immediate payment in fuU. •� �� " •�.,�_,: :
<br /> However. Lender is not required to persnit reinstatement if: (i) Lender has accepted reins[atement after the 't :�
<br /> commeacement of foreclosure proceedings within two yeus immediately preceding the commencement of a current � `�_
<br />• foreclosure proceeding, (ii) reinstatement will preclude foreclosure on different grounds in the future, or (iii) ,- •., - _
<br /> reinscatement will adversely affect the priority of the lien created by tbis Securiry[nstrument. °� r1
<br /> 11. Barmwer Not Released; Forbearance By Len der l�iot a Wa iver. Ex tension o f t h e t i m e o f p a y m e n t o r _� ��' "`��`� --
<br /> .� �,... .�, .. .
<br /> modification of amorti7ation of the sums secured by this Secvriry Instrument granted by I.ender to any successor in , -:.�:"•' �.
<br /> - interest of Bonower shall not operate to release the liabiliry of the ori Borrower or 8orrower's successor in �
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<br /> interes[. Lender shall not he required to commence proceedings aoa�t any successor in interest or refuse to eatend •�. �•:;_�,�
<br /> time for payment or o�hera+ise modify aznortization of the sums secured by this Security Instrument by reason of any •,�%~�`--
<br /> demand made by the original Borrower or Borrower's successo�s in interest.Any forbearance by Lender in eaercising ,,�.�.,f[:,;,,,,.,.�7''-'�
<br /> any ri�ht or Temedy shall not be a waiver of or preclude the exercise of any right or remedy. -- .�;-
<br /> � 12.Sncecs�ois and Asstgas Boun�;Jolnt and Several Liabtlity;Co-Signras.The covenants and agreements -t.
<br /> ' of chis Securiry Insuvment shall bind and benefit the successors and assigns of I.ender and Borrower.subject to the - — �
<br />� provisions of paragraph 9(b). Borrower's covenants and agreements s4�a11 be joint and several. My BoTrower who ,�''-=. '-
<br /> • co-signs this Securiry Instrument but does not execute the Note: (a) is co-signing this Security instnunent only to � '�-'��,���
<br /> mortgage. grant and wnvey that Borrower's interest in the Property under the terms of this Secvriry Insuument;(b) �`•-•
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<br /> is not personally obligated to pay the sums secured by[his Security Instrument; and(c)agrees that Lender and any :� ° •. --.-
<br /> other Borrower may agree to extend,modify, forbear or make any accommodations with regazd to the terms of this '-.-;�';.r �"_ _
<br /> Securiry Instrument or the Note without that Bonrower's consent. -: _ • .�.,�
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