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incampete~rce or deat~a of ot» or more irrdi~id~~als corrstituti~~ tl~e Hamebuyar+, sa long as the <br /> tran~f <br /> er4ee~s tie ~vr{ltten tea#lce r~~pa~~ted b~ reasanabre evidence a~' s~tcl~ event #a tine Agency <br /> ~~ithi~r tlrit~ty ~3a} days of its occurrence and the trax~sfe~;ee{~~ asu~r~e~s~ the Hor~.ebuyer's <br /> ol~liatio~rs under this A~'eet~elrt, by execution of ail assinrrretrt acrd assun~ptian arcernent to <br /> be provided by the Aetrcy, ar a sale or tratrsfer ~rl~ih render federal lam ~~o~~id not, by itself, <br /> permrt the Agetrcy to e~ex~eie a due on sale or~ due orr enc~~trrb~~at~ce clal~se~ <br /> ~1r~ The Hornehuyer refinances any p~~rclrase rnaney first lien <br /> or atller permitted eneu~r~hrance to ~~hich the Agency Deed of TxRr~st has hereit~af~er defined} is <br /> subardina~e ~eaelr suelr lien, a "first Lien"~ far' a loan anra~~rrt in excess of tl~e then er~rrerrt laa~l <br /> balance secrzred by sr~clr lien ar encumbrance anti loatr cl~sit~ casts; andlar <br /> viii} The Ha~neb~~yer ~a~rd all co-signors a~r~d ca-trrartagars, if <br /> a~~y} fails to own acrd occupy the ~r~oper;#~ as #i~ei~~ ~r~it~cipai riesidence purs~~trt to ectio~a ~ a~~ is <br /> i~r ~~~r~~e~~sl~~p Default defined iii ect~on 8~ ~rnder tl~i Aree~r7e~rt, <br /> At tine request of tl~e Ha~~ebuyer, acrd for a specific occasion, tie Ae~rcy rrray, i~r <br /> its sale and ahsol~~te discr~etloir, ita ~~~ritit~g ~~ai~e the re~r~irernents of this s~zbpa~~araplr ~ and <br /> defer repayment andlor e~terrd the terrn of the Note Atry r~aiver or deferment shall be arr a case <br /> by case basis, and rra f€rfur~e rights for ~~ai~rc~~ ar clefertnet~t shall anise ar be ltnplled, <br /> Nat~~ithstandi~r the far~egain~, the Hamebuyer rnay, uparr prior ~vrittelr ap~pro~ral by the Aet~cy, <br /> refi~~arrce any First Lie~r far a loan an~outrt egr~al to ar~ less tlra~r the then c~~rret~t lawn balance <br /> sec~ued by sr~ch First Lien, <br /> Homeb~~yct• AssrsfalYC~ Loaz~ e~~ayme~~#. If there is arr e~~ent of <br /> acceleration p~iiar to the tarty-fish ~Stll~ Arrnr~rersar~r of the date of the Prarnissary Nate, the <br /> I~otr~ebrryer shall repay the Haz~reb~~yer Assistance Laa~i in accordance ~vit~h tl~is subparagraph <br /> In the event that rro evert of acceleratiatr occurs prior to the forty-fi~lr {~tlr~ Anniversary of <br /> the date of fire Prot~rissory Note, the f«I1 a~~ro~~trt of the Protnissary Natc shall he forgiven, and <br /> there slrail be fro f~rrtlrer obi iatians hereunder. <br /> ~i} Node Alrrotrnt Dtre Ili ~`~~1~, The ~virole of the Nate <br /> Anrar~t~t shat! be due in full ~vlrelr ate eve~~t of aeceleratia~r occurs, After paying alI casts and fees <br /> relati~rg to tl~e t~~ansactiatr, if any ~suclr as escrow fees, t~;at~s-~ea~ tapes, recoridi~l fees, hrokerae <br /> cam~rrissiotrs a~~d simiiar casts}, the proceeds of any such transactiat~ for, in tl~e case of arry e~~errt <br /> of acceleration atlrer than a safe, tl~e appraised value of the Property} shall be distribr~ted or <br /> applied itr the folla~virrg order ofpriarity; <br /> ~A~ Repayment of the First Lie~~; <br /> ~B} Repayn~errt of other pre-appro~red stzbazdinate <br /> iie~i~s}, if arry, as and in the lien recordrng priority that suel~ lien~s~ ~~ere approved by #lre <br /> ~ecutl~e Director pug+s~~at~t to ectiarrs l,~~i} and 14; <br /> Repa~~rrent to the Agency of the Hor~rebu~?e~~ <br /> Assistance Loan An~or~~~t; and <br /> 1. l~~Hiil~} R~ ~~J 4 ~ A ~ 1 <br /> Farm of Horrreb~~yer Loa~r Agreetnent <br /> <br /> DOCSaII~i~~b73~~r3~2~~272-~~D I <br /> l <br /> <br />