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<br /> � . Any emounts dlsbursed by Londer under thls Parag►aph shall become an edditlonal debt of Borrower and be secured by • • ��
<br /> thls Securlly Instrument.These amounis shall bear Interest Irom the date ot dlsbursement at the Note rate, and at Ihe opibn ol
<br /> Lender, shall be Immedlately due and payable.
<br /> Borrower shall promptly discharge any Ilen whlch has prforily over this Securily Instrument unless Borroeier: (a) ngroes in (A
<br /> wrlting to the payment of the obligatfon secured by the Ilen In a manner acceptable to Lender; (b) contosis In good faith the Ilen �
<br /> by, or defends against entorcement af the linn in, legal proceedings which In the Lender's opinlon operate to prevenl the
<br /> enforcement ot tfie Ilen; or (c) secures trom the holder of�he Ilen an sgroctment setislactory�o Lender subordineting the Yon to�
<br /> thls Security Instrument. H Lender ldetBorrowerhe tnotice IdentHy ng Phepl�ny Bos owlertshell satisfyhtho I Pnyorl taikePojne�or morehol O '
<br /> Security Instrument, Lendcr mny g � �
<br /> the ectlons set torth above within 10 deys o1 the givinp o1 notice. O ..
<br /> • 8. F9eg. Lender mey collocl fees and charyes authodzed by the Secretary. � -� ..
<br /> '' 9. Orounds for Accel�ratlon of Dsbt. � • „
<br /> (a) Dsfault. Londer mey, excepl as Ilmfted by repulatlone laeuod by lho Scrcrotary in tho casa ot paymont defaults. �t `
<br /> # requlre Imrnedlate paymenl U�lull ol oll sums socured by thls Security Instrument ff: ..,;�.�.:�-
<br /> (I) Borrower defaults by lalling to pey in lull any monthly payment required by this Sacurity Instrument pdor to or nn '��-�_-
<br /> ,.�,.t�, -----
<br /> the due date ot the next monthly payment, or �h�.��;�_.
<br /> (If) Borrower detaults by falling,tor a poriod ol ihlrty dnys. to perform eny other obligation� conteined in this Security •'��Kr"`
<br /> �nstrument. ,r-'=_
<br /> (b) Sale Withou4 Credit App�aval. Lender shall, if permitted by eppllcable law (Including sectfon 341(d)of tha : Y
<br /> �-w,
<br /> Oem•St �ermaln Deposftory Institutlona Act of 1982. 12 U.8.C. 1701J•3(o)) and with the prlor approvel of the Secretnry. ,,;��,�cr
<br /> requlre fmmedlate payment in lull of all the sums secured by this Security Instrument fl: .;�;
<br /> (q All or part ot the Property, or a beneticlal Interest in a trust owning all or parl oi lhe Proporry, is sold or ;�S
<br /> otherwlse transterted (other than by devlse or descent),and •���:��.
<br /> (Iq The Property Is not occupled by the purchaser or grantee as hls or her pdncipal residence, or the purchaser or ' ��+{,
<br /> • grantee does so occupy the Property, but his or her credit has not been approved In accardence wllh the ,.y ;«�
<br /> requlrements of the 3ecretary. " ���t�
<br /> (C) No WdiVer. If clrcumstances occur ihat would permit Lender to requfre irtimedlate payment in full, but Lender , 1;`.
<br /> �; does not requlre such payments,Lender does not walve its righis with respect to subsequent events.
<br /> (d) Ragulatlona Of HUd Secretary. In meny circumstances regulatlons Issued by the Secretary will ilmil -
<br /> Lender's rtghis, In the case cf payment detaults, to requlre Immedlate payment In full and forecloso if not peld. Thls r�,` r.
<br /> • Security Instrument does not authorize ecceleratfon or foreclosure If not permitted by regulatlons of the Secretary. „� ;�' •._-
<br /> (e) Mortgage Not Insure�f. Bortower agrees that If thls SecJrity In�trument and ,he Nohe a�eA nothn8a�f�Le�der �V�
<br /> be eligible for Insurance under the Natlonal Housmg i�ct wiinin Si3 u8iis .rom ...e __1e . .,
<br /> may, at Its optlon requlre immedlate payment In lull ot all sums secured by this Security Instrument. A wdtten statement ,�-
<br /> of any authorized agent of the Socretary dated subsequent to 90 d8ye from the date hereof, declining � �,
<br /> to Insure this Secudry Instmment and the Note,shall be deemed conclusive proof of such Inellgibiliry. Notwithstanding �" :.
<br /> the foregoing, thls optlon mey not be exerGsed by Lender when the unavnilabllity of Insurance Is solely due to lender's '�:
<br /> fallure to remit a moAgage Insurance premlum to ihe Secretary. h ;,,
<br /> , 10. Reinstetement. Borrower hes a rlght to be relnstated if Lender has requlred Immedlate payment In full because of '�
<br /> Borrower's Tailure to pay an emount due under the Note or this Security Instrument. This right applles even after foreclosure
<br /> proceedings are InslKuted. To reinstate the Security Insirument, Borrower shall tender In a lump sum all amounts required to �_
<br /> bring Borrower's account curtent Including, to the extent Ihey are obligatlons of Bortowor under this 3ecurity Instrummt, �
<br /> torocloaure costs and reasonablv and customary ariomey's fQes and expenses properly assoclated with the taeclosure
<br /> proceeding. Upon relnstatement by Borrower, this Security Instrument and the obligatlons that It secures shall remaln in eftect es ��-
<br /> H Lender had not requlred Immediate payment In full. However. Lender Is not required to permit relnstatement if: (I) Lender has �•�'f
<br /> o accepted relnstatemenl after the commencement of loreclosure proceedings withln two years immcdiataly preceding Ihe __��__ _ —
<br /> y commencement of a current foreclosure proceeding, (ii)relnstatement wlll preclude foreclosure on dliferent grounds In the fulure, __
<br /> or(Ilq relnstetement wlll adveraely aHect the prlority of the Ilon created by this Secu�ity instrument. =_�-
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<br /> � 11. Borrower Not Released; Forbearance By Lender Not a Wafver. Extenslon of the tlme ot payment or
<br /> modiflcatlon of amortizatlon oi the sums secured by this Secuiity Instrument grented by Lender to any successor In Interesl of ;�N
<br /> Borrower shell not operate to release the Iiabllity ot the originel Borrower or Bortower's successor In interest. Lender shoU not be .':'.'}:
<br /> requlred to commence proceedings agalnst any successor In Interest or re(use to extend tlme for payment or otherwise modily . �:���qN,�,'`
<br /> �Y L}'4 L�tf'y�ti'.•�
<br /> amottlzatlon of the sums secured by this Securiry Insirument by reason of eny demend mede by the orlglnel Bortower or „ ��� � .
<br /> Borrower's successors in Interest.Any forbeerence by Lender in exercising any right or remedy shall not bo n waiver of or ,,c.�-,�.
<br /> .,.
<br /> preclude the exerclse of any dght or remody. �:
<br /> f�,:.
<br /> 12. Successora and Assfgns Bound; Jaint and Several Llabllity; Co-signers. The covenents end • • ,.
<br /> egreements of this Security Instrument shall bind and benetit the successors and assigns of Lender end Borrower, sub�ect to Ihe
<br /> provislons o( Paregraph 9(b). Bnrrower's covenants and etgreements shall be Joint and several. Any Borrower who co•slgns ihls
<br /> Sacuriry Instrument but does not execute the Note: (a)Is co•slgning this Security Instrument only to mortgage, grant and convey
<br /> that Borrower's interest In the Property under the terms oi thls Security Instrument: (b) Is not personelly obligated to pay the
<br /> sums socured by ihis Securily Instrument; and (c) uyrees ihat Lender and any olher Bonower moy agree to extend, modity.
<br /> torbear or make any accommodatlons with regard to the term ot thls Securily Instrument or the Nate without that 8orrewer's
<br /> � con3ent.
<br /> � 13. NOtICes. Any nolice to Borrower prowded tor in tlils Security Instrument shall b�given by delivering it or by maihng it
<br /> ._a. ��.., o........r.. ddrlracc nr .
<br /> by tirst clnss mail unless epplicabte lew requlres use ot eno�ner meinod. Tna noiiov ai�ni���d��a:.t.:.. .o .•... • •-,.-••, •�---- � �
<br /> eny other eddress Borrower designetes by notice lo lender. Any notice to Lender shall be given by tirst class mail to Lender's I
<br /> eddress steted herein or any address Lender designetes by notice lo Borrower. A�iy nolice provided for in this Seuuity
<br /> Instrument shall be deemed lo have been given to Bonower or Lender when given ns provided in this paragraph. ,
<br /> 14. Governing Lilw; Severability. This Security Instrument shall be gove�ned by Federal lew and the law ol the
<br /> jurisdiction in whfch ihe Property is located. In the event thpt any p�ovision or clause of ihis Security Instrument or the Note
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