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<br /> (i)All or part of the Property,or a beneficial interest in a tnut owning all or part of the Property, is sold �! ` � '�
<br /> or otherwise cransfened(ather tLan by devise or desceny,and f , ' ` .
<br />�� {ii1 The Property is not occupied by the purchaser or grantee as his or her principal residence, or the � • ' .. -
<br /> � purchaser or grantee does so occupy the Property but his or her credit has not been approved in • ---- —.- -
<br /> � accordance with the requiretnents af the Sectetaty. , � . '.
<br /> i (c)No W�siver. If circumstances occur tha[would permit Lender to requirn immediate payment in fiill, but � < . �
<br /> Lxader does not require such payments.Lender does not waive its rights with respect to subsequent events. � �. ..-
<br /> (tn Regulattoas of HIJA Secretary. In many circumstances regulations issued by the Secretary will limit , . , - - -
<br /> � Lxnder's rights, in the case of payment defaults,to require immediate payment in full and foreclose if not . . ;�,_.�;p_�
<br /> ; paid.This Seauity Instrumenc does noc authorize acceleration or foreclosure if not permitted by regulations � °� . _-
<br /> � of the Secretary. • .:�--:- ..
<br /> (e)Mortgage Not Insured.Borrower agrees that if tl�is Securiry Instrument and che Note are not determined � � �����""'"'` —
<br /> to be eligible for insurance under the Nuional Housing Act within 60 days from the date hereof, Lendcr � �. �' ��� "
<br /> �' ;.�;.��_.�...�-�-
<br /> S writtentstatemeat o�f any authorized gent of thne Secietary dat S s��ubseq�uen�t to 60 days from the�hereof, � . � . �� �w����
<br /> , �_. �—
<br /> ° declining to insure this Securiry Instruiaent and the A[ote, shall be deemed wnclusive proof of such . ' � �;,�;:�
<br /> '� ineligibility. Notwithstanding ttie foregoing, this option may not be exercised by Lender when the . . _Y,,:.,:
<br /> unavailability of insurance is solely due to Lender's failure[o remit a mortgage+nc��*anCe piemium to tite �� •�(°-
<br /> :� s��y .:.:�,. �'..
<br /> , 10. Reiastatemeat. Borrower has a right to be reinstated if Lender has required immediate payment in full � � -��,��, •
<br /> :�' because of Borrower's failure co pay an amount due under the PIote or this Security lnsaument. This righ[applies " ''''��� _
<br /> � even after foreclosure praceedings are instituted. To reinstate the Securiry Insmunent, Borrower shall tender in a ���
<br /> . lump sum aU amounu reyuired to bring Borrower's account current including, to the extent they are obligaaons of �, �'��-��� .�^ ,
<br /> Borrower under this Security Instrument,foreclosure wsts and reasonable and customary attorneys'fees and expenses �. _
<br /> properly associated with the foreclosure proceeding. Upon reinstatement by Borrower.this Security Insuument and `
<br /> • �'�'
<br /> the obligations tha[ it secures shall remain in effect as if Lender had not reguired immediate payment in full. � . � � �'••�
<br /> _}-„�.:.
<br /> However, Lender is not required to permic reins[atement if: (i) I.ender 6as accepted reinstatement after the �� r' ;� .
<br />� commencemrat of foreclosure proceedings within two years unmediately preceding the wmmencement of a current � ���!� �"._
<br /> foreclosure proceeding, (n) reinstatement rviU preclude foreclosure on different grounds in the future, or (iri) ''�' ' `'+� -,
<br /> � � :
<br /> reinstatement will adversely affect the priority of the lien created by this Security Instrument. • �' ��•�� f.;�
<br /> 11. Bonrower Not Released; Forbearance By Leuder Not a�Vaiver. Extensian of the dme of paymeat or .�_r:.;. •,�'�,�,
<br /> modificaiion of amortuation of the sums secured b [his Securi Instrumeat anted b Leader to an successor in �� •��
<br /> Y tY 8r Y Y �.,'... ��r�,:
<br /> interest of Borrower shall not operate to release the liability of the original Borrower or Bonower's successor in �=-
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<br /> interest. Lender shall not be reyuired to commeace proceedings agaiast any successor in interest or refuse to extend �-*�- %��''�-
<br /> time for payment or otherwise modify amortization of the suws secured by this Security Insuument by reason of any ���,
<br /> �i'�:�_�—._ _
<br /> � demand made by the original Boaower or Bomower's successo�s in interest.Any forbeazance by Lender in exercising _��,,,�',�!'�. -
<br /> any right or remedy shall not be a waiver of or preclude the eaercise of any right or remedy. °. ��;� _ _
<br /> 1Z. Successors and AssIgns Bound;Joint sud Several Liability; Co-3lgners.The wvenants and agreements • - ..�•
<br /> of this Securiry Insuument shall bind and benefit�he successors and assigns of Leader and Botrower,subject to the • .'
<br /> provisions of pangraph 9(b). Borrower's covenants and agreements shall be loint and several. My Bomower who -- I='r`-- --= -
<br /> co-signs this Securiry Instniment but does not execute the Note: (a) is co-signing this Sectsrity Instmmeat only to �,-"- i� • �
<br /> mortgage.grant and convey that Borrower's interest in the Property unsler the tem�s of this Securiry lastrumenr,(b) ' �.�`'-�
<br /> �;�,--
<br /> is not pe�sonally obligated to pay the sums secured by this Security Instrumea�t;and(c)agrees that Lender and any � �
<br /> other Bonower may agree to extend.modify, forbear or make any accommodations with regard to the teang af this �••.`'����''
<br /> Seairiry Inspvment or the Note without that Borrower's consent. � �"'�'''���-�.
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