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<br /> i Sc:curtty I[�sttumcnt. Lc:ndcr shall uppty such ptacccds to thc n:ductlon of the indebtcdness undcr the Note and th(s Security
<br /> Instrumcnt,tirst to uny dcllnquen[umauntaepplkd in the ordcr pravided in paragrnph 3,and then to prepaymcnt of principt�l.
<br /> Any uppliaulon at thc prcx�:cdc to thc princlpnl sht�U not extcnd or postponc thc due dntc of the monthly paymcnta,whlch �
<br /> are refercul to in pEiragruph 2,or ctwngc:ihc amount of such payments. Any excess proc:ecds ovcr an umount rcqulred to -
<br /> I puy all outsinnding indcbtcdncss under ihc Note und thls Sccudry lnstrumcnt shaU bc patd to the enUry Iegally endelcd thereta. I -
<br /> � 7. G6�rgen►o Borrowe��nd Prote�ctloo of I.eader's W=6tati la the Property. Borrowcr ahnll pay uil g�vernmentul ar C
<br /> - 1 munlclpul ctuirgcs,flncs and imposi�ian� tt�t arc not included in patagraph 2. Borrower shaU ps►y[hese obligutions an dme �
<br /> _ � dimcUy to ►hc cnuty which Ls owed thc paymcnt. If fallure to pay would udvcrsety uttect I.cnder's Intcrest ln the Property, 1J � _
<br /> upon Lcndcr's rcquest Bonowcr eh�ll pramptly funUsh to Lcnder recctpts evidencing thcse pAyments. �
<br /> • !f Bonowct fuils to makc thuc:. paymcnts or th� paymcn[s reyuirrJ by parngraph 2, ur tails tu pi:rform uny otl�cr
<br /> � covennn�.s and agrecment�cantr�ined In ehB Se;curiry Instrument,or there is a legal pracceding that mey signlficandy atfect�
<br /> � Lender's righcs in ihe Property(such as a pra�eedding in bankzuptry,for condemnatton or to enforce laws or regulatians),then
<br /> - Lender may do and pay wtuitever is necessary to protect the veluc of the Propercy and Lender's rlghts in the Property,
<br /> including paymcnt ot taxcs,h�u.ard insurance and other items mentioned in paragraph 2.
<br /> ' Any amounts disbursed by Lender undcr thls paragraph shall become an additional de;bt of Borrowcr and be sccurcd byN
<br /> ' this Sccuriry Instrumcnt. These amouats sl�ll bear inter�t from chc date of disbursement at the Noie rate,and at the nption "�'r4�'.
<br /> . of Lendcr shall be immediutaly duc and peyablo, ,�''"� '����
<br /> Borrawer sheU prompcly discharge any Uen which has prloriry over this Sccurlty Instrument unless Bano�vcr:(a)agrees ..,.�. -
<br /> • in writing ro tize payment of[he obligatioa secured by the lien in a manner acr.eptable to Lender,(b)contcsts in good faith ,
<br /> thc Hon by,or defcnds agafnst enForccmentof the lien in,legal proceedings whtch in the I.ender's opinion operata to prevent
<br /> cha enforcement of chc llen;or(c)secur�from the hulder of the liea an agreement satLsfactory to Lender subordinating tlie �� •
<br /> ..� lien to this Securtcy[nstrumen�. If Lender determines that any pan of the Properry is subJect to a Hen which may attain �'.;.:' .
<br /> � prlodty aver thia Sccutity Instrume6t,l.�n�er may give Bonnwer a notice Identifying the lien. Borrower shaU satisfy the lien � `:
<br /> .. ;� or cake one or more o f t he act ions se�C�r�h a b ove w i t U I n 1 0 d a y s o f t h e g i v i n g o f n o t i ce. :
<br /> 8. Fees. Lender may collect fecs and chsrges authorized by the Secretary.
<br /> 9. Grounds for AccelenUon ot AebG
<br /> f (a)De6rl� Lender may,except as limiteci by reguladons issued by the Secretary in the case of payment defaulu,
<br /> �'' requ'uc irnmediate paymenc in��of aU sums secured by[hls Security Instrument tf:
<br /> '.�* (t)Borrower defaults by fazliag to pay in full any monthly payment required by this Secudry Ipstrumenc prior
<br /> � . j to or oa the due date of the aexc monthly payment,or �
<br /> � (ii)Botrower defaults by tc�iliag, for a period of thirty days,to perform any other obllgatlons wntained In this ,`t
<br /> �� Security InstrumenG :•y'�; ��;,_
<br /> : �� (6)Sak Wtthout Credlt Approva4 Lender shnll,lf peraiitted by appUcable law(including section 341(d)of the Oam- ;.r+�- ;fa
<br /> _ � St.Germain Depository Institutions Act of 1982,12 U.S.C.1701 j-3(d))aad with the prior approval of the Secretery, ��ia� ��=__
<br /> - require Mmediate payment m ruu oi all sums secured'oy iais Security Inscrumcni it: _ -_ _
<br /> (i)All or part of the Property, or a bene8ciai interest�n a uust owning all or part of the Property,is sold ot �_:_
<br /> �therwise traasferred(other ihan by devise or desvent),and ,�'.'(��Q�
<br /> (iI)The Pzoperty ts not occupied by the purchaser or grantee as his or her principal residenoe.or the purchaser T-
<br /> � .' • or grante�e does so occupy tte Properry,but his or her credit has not been approved in accordance with We ti:
<br /> • � requiremenis of the Secretary, "�.
<br /> ' (c)No Wairer. If clrcum55tan�es occur that wnuld permit Lender to require immediate payment in full,but Lendcr -"
<br /> �: does nac require such puyments,Lender does not waive its rlghts with respect to subsequent events.
<br /> (d)R e`�l a t l o n s o[H U D S e c rc t a ry. I m m�n y c i r c u m s t a n c e s r e g u l a u o n s i s s u e d b y t h e S e c r e t a ry w!ll l i m i t L ender's
<br /> rights,in the case of payment deGults,[o requtre immedicite paymeat 9n full and foreclose tf not paid TWs Securiry �
<br /> Instrument does not author(r.e aaeleration or foreclosure if not permitted by regulations of the Secretary.
<br /> (e)Mortgaae Not I,asrred. Horro+ver agrees that ff this Secudty Instrument and che Note are not dctern�ined to be -
<br /> �� eligible For insurance under the Necional Housing Act witl�itn 6 0 DAYS from the date hereof, _
<br />_ s: Lender may,at its option, ra�uire immediatc paymcnt in full of all sums scr.ured by this Securiry Instrument. A °-`-
<br />- � -� wrltten atatement of any authosfud agent of che Secretary dated subsequent to 6 0 DAYS from ��
<br /> �::�� the date hereof,declining to insv�e this Secutiry Instrument and the Note,shall be deemed conclusive proof of such f::_
<br /> ineligibi�ty. Notwlthttanding the foregoing,this optlon may not be exercised by I.ender whcn the unavailabiliry of
<br /> � insurance u solely due to Lender'a failure to rcmit a mongage insuraace premium to the Secretaty. __
<br /> 10. Reinsutemen� Bonower t�as a tlght to be reinstated if Lender has required kamediate payment in full because of
<br />- �� Bonower's failure to a an amount due under the Note or this Securi Instrumen� This rt t a Hes even after foreclosure ='-
<br /> �` rooeedin are insUtuted. To reL�stete thc Securf Instrumcnt,Bonower shall tender in a um sum all amounts r uired F�
<br />_ � P 8� �1' P �1 ��-:-.-
<br /> to bring Borrowcr's eccount cuncnt Includiag,to the e�ent they are obligations of Bonower under this Security Instrument, �� ''
<br /> foteclosurc ws�s apd reasonablc and customary attorneys' fees and expense,g properly assoctated with thc foreclosure ,ru gy�,'e7�'R''
<br />- proceeding, Upon reinstatement by Borrower,this Securiry Ii�strument and the obligations that it securea shall remafa ia ••.'�� �� +:
<br /> . effect es if Lender t�ad not requircd immedlatc payment in fu1L However,L.cnder ls not requlred to permit reinstatemcnt ff: "�.,'':��� '�;:-��I�
<br /> (i)L,ender has accepted reinstatement afler the wmmeucement of foreclosure prooeeding within two years immediatety � '��?., .
<br /> •• pm-0eding the wmmencement of a current forcclosure prooeedtng,(S) reinstatement will prectudc foreclosute on different '��'-r _��
<br /> . � grounds in the future,or(iii)retactatement will adversely affect the prtority of the lien crcated by this Securiry Instrument. ''..:�=�•_�
<br /> 11. Borro+rer Not Released;Forbe�nnce py I,eader Not a W�iver. Fxteasian of the tima of payment or modi[icatiop ' -
<br /> of amortization of che sums sccured by tl�Sccurity Instrument grantcd by Lender to any sucoessor in intereat of Borrower
<br /> shau not operate to releuse the Ilabllity at thc origim►t Bonower or$onower's successors in interest. L.ender shall not be
<br /> requirect to commence proccedings agni�st any successor in interest or refuse to extend timo for paymant or othetwise modity
<br />_ amortization ot the sums secured by itiis Security Instrumant by reason of any damand mada by thc originel Borrower or
<br /> > Borrower's sucassors in intcrest, Any forbearanoe by L.ender in exercising any right or remedy shall not be a waiver of or
<br />_ �� preclude the exercise nf any right or rernedy. �
<br /> 12. Curr�cme�e und Auclonn Rnrn�1�Inlnt and RPVprd I lahfliive [:n.Riunner.. Thn mvenantc Hnd Hvrrements nf th[e
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<br /> s. .-. :.� --• - -- -o--- ---- -- - o __ � _
<br />� � Sceurtry Instrument shall bind and benefn the sucoessnrs and asstgns of L.ender and Borrower,subject to the provislons nF � �
<br /> patagraph 9(b),Borrower's covenunts a►�agrecments shall be jouit and scveral. Any Borrower who co-stgns this Security �
<br /> Instrument but do�not executc thc Notr.(a)is co-signing this Su:urity Instrument only to mongagc,grant and oonvey cha�
<br />- • Borrower's interest In tke Property undcr ihe terms of this Sccutity Instrument;(b)is not personally obligated to pay the sums
<br />_ secured by this Security Instrumcnt;ancl(c)3grecs tt�at l�nder and nny othcr Bonower may agrce to extend,modify,forUear
<br /> � or make: any aaommodations with regard ta the tcrms of this Security Instrumcnt or the Notc without that Bc�rrower's �
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