|
:'ti� r� •
<br /> --_""�t`--- . . . . . . .-- - '. -—..._.._....._....--"---'—'----�---__-_.--'---__ '--�..:.._..�---'-----'`— _—_� - .
<br /> ..__ .. . —- - . -
<br /> �^ <� . . .. . .��:. .
<br /> .. �.
<br /> .. �..,.. . � .., �- _
<br /> �
<br /> '�^"`-J1 , . ��' .. ' '_�+...�.-��--'
<br /> . � - � • . '��,��ii'l^•!F...
<br /> � n . . . - ._.,.:.,1._
<br /> . . .. ' . ' , i ..�.a,i��
<br /> � . .. - �lel�.T.;"�_:
<br /> � �r;<{{.F'-"-
<br /> I �..�?
<br /> 1 , 1:LK�:
<br /> 1 &
<br /> ,. i , P�
<br /> � ; .,u�
<br /> .�,:_
<br /> � �_..��_.-'�?`
<br /> � 5 RE•RECORDED �":��.Q�iZB �"f"��;��� ��- -
<br /> ••�"'"�' , (i)All or part of the Property,or e bencCicial intcrest in a trust owning all or part of thc Property,Is sold or a�
<br /> , �
<br /> � '"�-`""" � atherwise aansferred(other than by devise or de.ecent),and r---
<br /> �ii) The properey is not occupied by the purcheser or grantee as his or her principal residence, or the �,=__
<br /> � purch�ser or gcantee does so occuPY the Property but hi9 or her credit has not becn approved in accordance _,
<br /> m�---
<br /> with thc rcquirements of the Secretary. . -
<br /> � (c) No Waiver. If circumstances occur that would permit Lender to require immediate payment in fuU, but _
<br /> I.ender does not require suc h paymenis,Lendec does not waive its rights with respect to subsec{uent events. =-
<br /> ' (d) Regulutions af HUD Secretary. In many circumstances regulations issued by the Secretary will limit �
<br /> Lender's rights,in thc cuse of payment defaults,to rcquire immediate payment in full and foreclose if not paid. `
<br /> f.� This Security Insm�mcnt dces not au�liorize accelerotion or foreclosure if not permitted by regulntions of the
<br /> Secrctery.
<br /> " (e)MortgAge Not Insured.Borrower agrees that if this Security Instrument and the Note are not determined to _ ,
<br /> � be eligible for insurance under the Nadanal Housing Act within 60 days from the date hereof,Lender may,at
<br /> ' its opdon, require immcAiate payment i n fu l l o f a l l sums secured b y ihis Securi ty Instrumen� A written
<br /> , },�� statement of any authorized agent of the Secretary dated subsequent to 60 days from the date hereof,declining
<br /> co insure this Securlry Instrument and the Note, shall be deemed conclusive proof of such ineligibility.
<br /> Notwithstanding th:: foregoing, this option may not be exercised by Lender when the unavailability oF
<br /> ��( insurance is salely due to Lender's feilure to remit a mortgage insurance premium to the Secretary.
<br /> {� 10.Re[astatoment.Borrower has a right to be rcinstated if Lender has required immediatc payment in fuU becausc
<br /> � of Borrower's failure w pay an amount due under the Note or this Securlty Instr�ment,'ft►1s right applies even after
<br /> �� foreclosura proccxdinBs are instituced. To reinstate the Security Tnstrument, Borrower sheU tender in a lump s�un all —
<br /> amounts required to brinB Bonowor's account current including,co the extent they are obligations of Bonower under
<br /> - --"-� thls Security tnsavment, torci:Iusura cosi�arsd tr�n�bl� end s'!cmmary aaorneys' fer.s and cxpenses properly
<br /> ��.
<br /> associated wtth the foreclosure proceeding, Upon reinstatement by Bonower, this Security Instrument and the
<br /> obHgadons that it secures shall remain in etfoet as if Lcnder had not required immedlatc payment in full. Howcver,
<br /> '� L.ender is not requlred ta pennic reinstatement if: (i) Lender has accepted reinstatement after the commencement af
<br /> foreclosure proceedings within two years immediaeely preceding the commeneement of a current foreelasure
<br /> pioceeding, (u) reinstatement will preclude toreclosure on different grounds in the fuwre, or (iu) reinstatement will
<br /> Adversely effect the prtority of the iien created by this Security Insm�ment
<br /> 11. Borrower Not Rekassed; EurbeAreace By Lender Not A Weiver. Extension of the dme of payment or
<br /> modification of emorti�ation of the sums sccured by this Security Instrument granted by Lender to any successor in
<br /> interest of Bo�rower shaU not operate co rele�se the liability of the uriginal Borrower a:Bonowcr's successor in inY.rest
<br />� L.ender shall not be requireci to commenee proceedings against anY suceessor in interest or refuse to extend time for
<br /> ' nayment or otherwise modify emorti�auon of the sums sccured by this Security Instrument by reasan of any demand
<br /> � �� made by the original Bonower or Borrower's successors in interesG Any forbearance by L�r.�.�s in exercising eny right . _
<br /> or remedy shell not be a waiver of or prcclude thc excrcise of eny right or remedy.
<br /> 12.Successors and Assigas Bound;Joint and Several Ltability;Co•Signers.The covenants and agrcemcnts of
<br /> this Security Instrument shaU bind and benefit tho successors and assigns of L.ender and Borrower, subject to die
<br /> � provisions of paragraph 9(b). Borrower's covenants and agreements shall be joint and severul. My Borrowcr who
<br /> co-signs this Sceuriry Instrument but does not execute �he Notc: (a) is co-signing tttis Scc►uity Instnunent only to
<br /> ' mortgage,grant and convey that Borrower's interest in the Properiy undet ihe teccns of this Sc;curity Instrument;(b)is
<br /> not personally obligat�ed to pay the sums sccured by this Securiry Instr�ment;and(c)agrees that Lender and eny of.her
<br /> .<..., Sonower may agree to extend.modify,forbear or make any accommodapons with regard to the terms of this Securiry
<br /> ' � _ Instrument or the Note without that Bonowcr's consenG _
<br /> . -- -_
<br /> .. f ���
<br /> �:�:,
<br /> ��4R(NE)coeo��.o� Papo 6 0l 8 ' '- i�Kj.7:� _
<br /> ,
<br /> _ - ; � -
<br /> i .. ._..... _
<br /> ,
<br /> �L _ __ __ _
<br />
|