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<br /> (i}All or part of the Propert}+.or a beneficial interest in a tnut owtung all or part of the Pcoperty.is sold _ __,�
<br /> . or otherwise transferred(other than by devise or descent),and � �. . � . _ � -
<br /> (ii)The Property is not occupied by the purchaser or grantee as his or her principal residence, or the . „ �
<br /> � purchaser or grantee dces so occupy the Property but his or her credit has not been approved in • .. ,__`
<br /> accordance with the requiremenu af the Secretary. • . �—
<br /> (c)No Waiver.If ci�umstances occur that a+ould pemnit Lender to require immediace payment in full,but - �`' ; `�,
<br /> . Lender does not require such payments.I�nder does not waive iu righu with respecc to subsequent events. � . . � __
<br /> (� Regula�ions of BUD Secretary. In many circumstances reg�larions issued by the Secretary wiU limit , �''°�_
<br /> Lender's rights,in the case of payment defaults,co require immediate payment in full and foreclose if not ; , ..,_ ��
<br /> . , ��d,���rity tn�m,�.,�+t does not suthorizc acceleration or foreclosure if not permitted by regulations f =�_-�:__
<br /> �..
<br /> of the Secretary. , .•' ` ���,.
<br /> � � '�'g'k•*•`*`„_
<br /> �,Y-#,< <
<br /> (e)Mortgage Not Insured.Borrower agrees tt�at if this Securiry Instrument and the Note are not determined �, , ,�: , A=,.-.
<br /> to be eligible for insurance under[he National Flousing Act within 60 days from ihe date hereof, Lender -�;,:_•.
<br /> ' _ i-f;:-av�.�-
<br /> " Ynay, at its oprion, require immediate payment in full of all sums secured by this Security Instrumcnt. A . .. =—
<br /> '� writtea statement of any authorized ageat of thc Secnetary daced subsequent to 60 days from the date hemof. ..' , ��'� �T'"��"'�__
<br /> -� declining to insure [his Securiry Ins[rument and thc Note, shall be deemed conclusive proot of such . ._ ,� � �,�
<br /> � �` inell�ibility. Notwithstanding the foregoing. this option may not be exercised by Lend�r wben the ,�, .t
<br /> .�� ,t unavailability of iasurance is solely due to Lender's failure�o remit a mortgage insurance premium to the -
<br /> � : Sec�etary. :� -�
<br /> . '�-{�.:
<br /> + 10. Reiastatement. Bonower has a right to be reinstated if Lender has �2quired immediate payment in full ,... ...,,.,� .,��
<br /> because nf Borrower's failure to pay an amount due under the Note or this Securiry Instrument. This right applies -.- •k
<br /> even after foreclosure proceedings are instiruted. To reinstate the Securiry Insnument, Borrower shall teader in f ' Y �-�_, ; H:
<br /> o `�' -_
<br /> tump sum all amoants required to bring Borrower's account curreat including.to the extent they are obligatcons � •. ; ; —
<br /> Borrower under this Securtty Insuument,foreclosure costs and masanable and c�stomary attomeys' fees and expenses �':*X� . :
<br /> '�,"r '�' _, ~' .�:-:
<br /> P��Y�sociated with We foreclosure proceeding. Upon reinstatement by Bo�rower,this Security Instrument and ,i�-. . •,S; ' ...
<br /> the obligaaons that it secures shall remain in effect as if Lender had not required immediate paymeut in full. .
<br /> However, Lender is not required to permit reinstatement if: (i) lxnder has accepted reinstatement after ths ..�#�` � �_•
<br /> commencement of forectosure proceedings within two years imm e diate ly preceding the commencement of a cuirent •,t .;
<br /> • foreclosure praceeding. (ii) reinstatemeut will preclade foreclasure on different grounds in the futune, or (iii) -- •i
<br /> reinstatement will adversely affect the priority of the lien created by this Securiry Instniment• '.`:1 �'
<br /> ll. Borrower Not Reteased;Forbearance By Lender Not a Watver. Extension of the time of payment or � �� �'
<br /> modificarion of amortization of the sums secured by this Security Insnua�ent granted by l.ender to any successor in ��' --
<br /> ' r�•;�n
<br /> interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successor in :;��'�. _.
<br /> � � interest. Lender shali not be required to wmmence proceedings against aay successor in interest or nfuse to eacend ���`"'! '
<br /> •:�.>_.�.�,-��
<br /> tim�e for payment or otherwise modify amortizarion of the sums secured by this Security insuument by reason of any `- ��,1_�
<br /> demand mada by the original Boaower or Bonower's successors in interest.Any forbearance by Lender in exercising ��l�'--°_:
<br /> " ``- '�
<br /> an y ri g ht or remedy shall not be a waiver of or preclude the exercise of any right or remedy. _ .. ;�--
<br /> 12.Successors and Ass3gns Bound;Joint and Several Liabftity;Co-Slp,ners. The covenants an d agreemen t s •_:�:-.,,}�:�`
<br /> ` of this Sec�riry Insuument shall bind and benefit the successors and assigns of Lender and Borcower,subjed �o�he ...y���,c
<br /> , provisions of paragraph 9(b). Boaower s covenaats and agreements shall be joint and several. Any Borrower who _;=pn�=•__:-,�__.
<br />' ' co-signs this Security Instrumens but does not execute the Note: (a)is co-signing this Securiry Instrument only to �� T � -�--.
<br /> .�r�J•_,
<br /> . mongage,grant and convey that Borrower's interest in the Property under the terms of this Securiry Instrument;(b) -r� -_,.T-
<br /> is not personally obligated to pay the sums s�cwed by this Securi Instrument;and(c)agrees that Lender and any �,���;,? � '*
<br /> ty ���:�=`,`-r'-,��_.�'•'
<br /> other Borrower may agree to extend. modify. forbear or make any accommodations with regard to ihe termg of this . _ .
<br /> ..�;. r� .t . .
<br /> � Security Instrument or the Note without that Borrower's wnsent. � ..
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