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<br /> '� (i)All or part of the Propetty,or a beneficial intzrest in a aust owning all or part of the Property.is so or ,. . . ..
<br /> `� i .. • ' • . .
<br /> � othea�vise pransferre�(other than by devise or descent),aad �
<br /> � (u'�'ihe Property is not accupied by the purchaser or grantee as his or her P��Provrd in�aocordance `
<br /> purchaser or grautee does so occupy the Property but his or hes credit has not beeu app .
<br /> with the requirements of the Secretary. . , ` , .,�`.• .
<br /> � (c)No Wafver.If cacumslances occar d�at would permit Lender co require immediate payment in full,but ' -- .._ .
<br /> Lendes dces noi reqnire such g�yment�.Lender does not waive its rights with respect w subsequent ev�� � - �_, . _..._ '-=�"` (
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<br /> (d) Regulat�or+s oi HUD Secretary. In many circumstances regulations issued by the Seaetar5+ � . _ -..;.;
<br />' I.ender's rigdu,in the cass of payment dafaults,to reiIuire immediate paY�►emt in full and foreclose if not paid. • _ '. --:.
<br /> T h i s S¢cwi t y Instrument dces not authorize accelerarion or fareclosure if not permitted by regulations of the € ''`�,�;�,�
<br /> Secretary �� ' �r;^--��.-�---
<br /> {e)Mostgage Not Insured.Borrower agre�s t1�at if this Se�ity�ns�ent and the Note are aot deterrnined tD f , . _
<br /> be eligible for insarancc ander the Natioual Ho�sing Act aithin b�daYs from the daie here°f,Lendea may,at � � � "� ,
<br /> its option, nquire irnmediate PaYment in full of all sums secured by tLis Security Insirument A wriuen p .,`.�`.��
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<br /> s�tatement of any anthorizecl agent of the Seccetary datrd sobseciuent w 60 days from the darE hereof,declining :: '=�--�w,_•._
<br /> tn insure tbis Security In.�tnment and the Note, shall be deemed conclusive proof of such ineiigibility. f� ' `;�?iE�'—
<br /> '•� Notarithstat►ding the foregoing, this option may not be exercised by Lender when the unavailability of ��---
<br /> inswance is solely dus w I.endea's failure to remit a mortgage ins�rance premium to the Secretary. ; ;.�:`,'. -v.�
<br /> 10.Reinstate�ent Borrower has a right to be reinstated if Lendea has required immediate payment in full because ,, � ' .:
<br /> �f Borrowes's faniure to pay an amount due undea the Note or this S�tY Inst�men�This right applies even after . - -- ..r� �
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<br /> foreclosute proceedinSs are instiwted.To rein.state the Security In4uument, Borrower shall tender in a l�unp sum all ,• • ' '<: •�_._
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<br /> a m o u n t s r e quired to brin g Bonower's account current including,w the eatent they are obligations of Borrower under .. � ,;:,
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<br /> this Security lnsuument, foreclosure costs and reagonable and custnmary atinn►eys' fees and expenses proper lY '•�._� . • .
<br /> a�ociatect with the foreclosure proce�ding. Upon reinstatement by Boaower, this Sec�uity �uu�eut and the .. • . , -
<br /> obligations that it secares shall remain in effect as if Lender had not r.,quired iramediats paYment in full. However, . ';;
<br /> Lendea is not required to permit reinstarement if: (i) l.ender has accePted reinstat�ement after the commencement of - -- , ..�.
<br /> • foreclosiue proceedmSs within twa Years im��ly pr�dmg the �°m�nenc�ment of a current foreclosare _ : : I: � '
<br /> P�S, (U�r e i a s m t$m e n t w i ll p r e c l u d e f o r e c2 o s u re on different g rounds in the future.or(iri)reinstatemeut will : .___� ' ;e �„
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<br /> • ad,veisely affect the priarity of the lien created by this Sec�uiry Insuument ,,,. .
<br /> 11. Borrower Not Releasetl; Forbearance By Lender Not a 6Vaiver. Extension of the uime of payment or • a,�:� �� '.
<br /> modification of amorti�ation of the sums secured by this Security Inswment g�anted by Lender to any successor in . .,�.�r `�.
<br />• • intaest of Bormwer sha11 not opexace tn release the liability of the origina!Barmwer or Borrower's successor iu interest. ..,,�;,.. ��-_
<br /> Lender shall not be requued to cammence proceedinBs aga�nst any successar in interest or refnse to extend time for � .-.`;�...:!�_;`�:::�:;:-`
<br /> :� .•.,r
<br /> payment or otherwise modifY amorozation of the sums secared by this Security Insuument by reason of any demaad ..:;,�,�,'y��. -"
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<br /> made by the original Bolrower or Borrow�'s successo�s in interest Ai►y forbearance by I.euder in exercising anY n8ht ..,��.��-„
<br />_ ar remedy shaU not be a waiver of or preclude the exercise of any right or remedy. � ::T Y -.
<br /> 12.Succeasors smd Assigns Bound;Joint and Several Liabilitp;Co-Signera'Ihe wveaants and agreemeAts of , :_�,;,., ;�;' -
<br /> � this gecurity Instrument shall bind and beaiefit the successors and assigns of I.ende.r and Boaower, subject w the - LL __
<br /> provisions of para�apb 9(b).Bosower's covenants and agreements sha11 be joint and several.Any Borrower who . . +�r�.�. `..
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<br />� � co-si�s this Security Instrument but does not eaecnte the Note: (a) is co-signin8 this Security InsuumeR►t only to . .
<br /> � mortgage,grant and convey that Borrower's intesest in the Property under the terms of this Security Instnuncr►t;(b)is • : . ;
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<br /> not personally obligated w pay the sums secumd by this Security Ins�trument;and(c)agrees that Lender and any other .;.'.�;. . �
<br />.. Botrawer may agree to eactend,modify,fnrbear or make any accomn►odations with regard w the t,enas of this Securiry � ...�
<br /> Inswment or the Notc without that Bonow�'s consent . •
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