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<br /> ' Any em�unts disbursed by Lendar under thls Paragreph shali become an addltional de6t of Borrower and be secured by � --.
<br /> ,,, , thls Socurity Insirument. Theao emounis shell bear Interctst from tho dato of disbursement at the Note rste, and nt the optlon ot
<br /> � Lendor.ehall bo Irmedlalely due and payable. •
<br /> Borrower shcll prompUy dischargo any Iien which has priodty over thls Secudty Instrument unless Borrower. (a) aflrees In (� -
<br /> � wrling to the peyment oT the obilgailon secured by the ilen In a menner acceptable to Lender;(b) conteats In good faith the Yen y : �;
<br /> • � by, or delends agalnat enlorcement o1 the Ilen In, legal proceedinge whlch in the Lender's opinlon operate to prevent Ihe � ., _,y�i-.'
<br /> . � ".':i�
<br /> enlorcement of tha ilen; or (c) seeures irom the holder of the Ilon en egreement satlstactory to Lender subordlnating the Ilen t�
<br /> �� thls Secudry Inetrument. li Lender detorminen that any parl of tho Property Is subJect to e Ilen whlch may arialn pdorlty over 1h1� - _-_
<br /> Security Instrument, Lender may give Bunower e notice Identifyfng the Ilen. Borrower shall satlsly the Ilen or take one or more ot,�
<br /> ,..�w�'� the actlons set foRh ebove within 10 days o1 the giving ot notice. � ���.��:__.
<br /> ' ��^� ��"� 8.Feee.Lender may collect fees and charges authodzed by lhe Secretery, � �
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<br /> �, 9.Orounds for Aaceleretlon of Debt.
<br /> (a) DetBUlt. Lender may, except as Iimited by regulaAons lasued by the Secretary In the case of payment defaults. `_ _
<br /> , , requlre Immedlate payment In full of eli suma secured by this Securlty Instrument If:
<br /> (I) Borrower defaults by talling to pay in full any monthly payment requlred by thls Security Instrument prior to or on _
<br /> the due date of the next monthly payment, or -
<br /> (II) Borrower defaults by falling,for a perlod of thlrty day�. to peHorm any other obllgatlons r.ontalned In thls Security
<br /> �� Instrument. � �'�s-.
<br /> �� (b) Sale Wtthout Credit Approval. Lender shall, fl permitted by eppllcable law (Including section 341(d) of ihe m
<br /> �i.
<br /> Oarn-St Qermaln �epository Inetitutlons Act ot 1982, 1?. U.S.C. 1701J�(d)) and v+ith the pdor approval of the Secretery, �•i -
<br /> . ,
<br /> � requlre Immediate peyment In full of all the sums secured by this Secudty Instrument If: ��
<br /> •r.
<br /> • (I) All or part ot the Property, or a beneticlal interest In a trust owning all or part of the Properly, Ia sold or •
<br /> . otherwise transierred (other than by devise or descent),and ��: --
<br /> (II)The Property Is not occupled by the purchaser or grantee es his or her princlpal residence, or the purchaser or �
<br /> ��� grantQe does so occupy the Property, but his or her credit has not been approved In accordance with Ihe �A
<br /> requlrements oi the Secretary. �
<br /> '' � (e) No Wafver. If circumstances occur that would permlt Lender to requlre Immediato payment In full, but Lender
<br /> M does not requlre such paymonts, Lender does not waive Its rights with respect to subsequent evente. �
<br /> (d) Regul�t10178 of HUD Secretary. In many circumstances regulatlons Issued by the Secretary will Wnit �
<br /> Lender's rlqhts, In the case ot peyment defaults,to requlre Immediate peyment in iull and foreclose if not peld. This Q
<br />--__-___-____ �ecudN lnein�ment�!o?a not authodze acceleretlon or foreclosure ff not pertnitted by regulatlons of the Secretary. �
<br /> (e) Mortgage Not Insured. Borrower agrees that If this Securily Instrument and the Note are not determined to �
<br /> be eligible tor Insurence under the National Housing Act within 90 from the date hereot, Lender
<br /> may, at its aption require Immedlate payment In fua of ell sums secured 6y this Secudly Instrument. A written statement
<br />- � of any authodzed agent ot the Secretary dated subsequent to 90 trom the date hereoi, decllnln� —_-.
<br />. to insure thls Security Instrurnent and the Note, shall be deemed conclusive proof of such Inellglhility. NotwithstendMig
<br /> the foregoing, this option may not be exerclsed by Lender when the unevailability of Insurance Is solely due to Lender's
<br /> tafluro to remit a mortgage Insurance premium to the Secretary.
<br /> �. 10. R9instetement. Borrower hes a rlght to be relnstated if Lendar has requlred immedlate payment In lull because of
<br /> , Borrower's fallure to pay an amounl due under tho Noto cr ihic Security Instrum�nt. This dght epplles evon arier foreclosure
<br />-. , proceedings are Instituted. To reinstate the Securlty Insimment, Bortower shell tender In a lump sum all amounts requfred to
<br /> � '" ' bdng Borrower's account current Inciuding, to ihe extent they are obligatlons of Borrower under thls Secudty Instrument,
<br />• -� toreclowra costs ard reasonable and customary attamey's fees end expenses prope►ty associated with the foreclosure
<br /> , proceeding. Upon relnstatement by Borrower, thls Security Instrument und the obllgatlons that it secures shall remaln In effect as
<br /> II Lender had not requlred Immedlate payment In fuli. However, Lender Is not required lo permit relnstatement if: (I) Lender has
<br /> accepted reinstatement after the commencement of foreclosuro proceedings withln lwo years Immedlately preceding ihe
<br /> commencement oi e current loreclosure procoeding, pi) reln�taiQment wlll preclude foreclosure on dfiferent grounds in the tulure. � � -
<br /> _ �� or(Ilf)re4istatement wlll adversely aNect the priodiy of the Ilen created by this Security Inslrument. - -
<br />-' ' � y 1. Borrower Not Released; Forbearance By Lendor Not a Watver. Extenslon ot the tlme ot payment or -
<br /> � modificatlon ot amortizatlon o1 the sums secured by thls Securily Instrument grented by Lender to any successor In Interest oi �ai
<br /> Borrower shall not operate to release the Ilabllity ef ihe alglnal Borrower or Bonower's successor In Interest. Lendor shall not be ---
<br /> required to commence proceedings against any successor In Interest or re(use to extend time for peyment or otherwlse modify
<br />- amortizetion of the sums secured by this Security Insimment by reason of any demand made by the orlginal Bortower or '�,^,�u-
<br />� Borrowers successors In Interest. Any forbearance by Lender in exerdsing eny right or remedy shell not be e weNer oi or �+s���:
<br /> ��..a
<br /> preclude the exercise of any rlght or remedy. . �-� -�-
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<br /> I 12. Successors and Asaigna Bnund; Joint and Several Liability; Co-signers. Tne covenants end �1��=
<br /> � agreements of ihls Seairiry Instrument shell bind and benefit the successors and asslgns of Lender and Borrower,subJect to the
<br /> provisions of Paragreph B(b). Borrower's covenents and egreements shall be Jolnt and oeveral. Any 8orrower who co•signs thls
<br /> I Security!nsinimant hut does not execute the Note: (a) Is co•signing this Socuriry In�trument only to mortgage, grant and conrey
<br /> i ihat Barrowur's interest In the Property under ihe terms of this S�:aw�t�• I:i:trum�vu �n� �� :�ot pWSOnully obligated lo pey Ihe
<br /> sums secured by thls Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modiry,
<br /> forbear or make any accommodations with regard to the lerm of this Security Instrument or the Note without that Borrower's
<br /> consent.
<br /> 13. NotICeS.Any notice to Borrower provided for In this Securfty Instrument shetl be given by dellvering It or by malling ft r -�
<br /> - ' by firsl class mail unless epplicable law requires usa oi another mothod. The notice shall be directnd to tho Property Address or �
<br /> any other address Borrower deslgnates by notice to Lender. My notice to Lender shall be given by Tirst ciass mail lo Lender's �
<br /> i
<br /> address stated herein or any addross Lender deslgneles by notice to Borrower. Any notice provlded for in thls Security �
<br /> Insirument shall be deemed to have been given to Boirownr or lendar when given as provided In lhls paragreph. ;
<br /> 14, GoVerlling Law; SeV8�8bllity. This Security Instrument shell be governed by Federal law and the law ol the �
<br /> �urisdiclion in which the Property is located. In tha event that nny provision or clause of this Secwity Instrument or the Note �
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