Common use of Other Grounds Clause in Contracts

Other Grounds. Lender may require immediate payment in full of all outstanding principal and accrued interest, upon approval by an authorized representative of the Secretary, if: (i) The Property ceases to be the principal residence of a Borrower for reasons other than death and the Property is not the principal residence of at least one other Borrower; (ii) For a period of longer than 12 consecutive months, a ▇▇▇▇▇▇▇▇ fails to physically occupy the Property because of physical or mental illness and the Property is not the principal residence of at least one other Borrower; or (iii) An obligation of the Borrower under the Security Instrument is not performed.

Other Grounds. Lender may require immediate payment in full of all outstanding principal and accrued interest, upon approval by an authorized representative of the Secretary, if: (i) The Property ceases to be the principal residence Principal Residence of a Borrower for reasons other than death and the Property is not the principal residence Principal Residence of at least one other Borrower;; or (ii) For a period of longer than 12 consecutive months, a ▇▇▇▇▇▇▇▇ fails to physically occupy the Property because of physical or mental illness and the Property is not the principal residence Principal Residence of at least one other Borrower; or (iii) An obligation of the Borrower under the Security Instrument is not performed.