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��15�47�9 <br /> Borr�wer cfl�enant� tha� Borrower is lawfuily seized of the estat� h�reby can�eyed and has the right ta <br /> grant and can�ey the Praperty, and that the Property is unencumbered, except far encumbrances of record. <br /> Borr�wer cavenants that Borrawer warrants and vrrill defend generally the title to the Properry against all <br /> �lairns an�demands, subject to encumbrances❑f rec�rd. <br /> B�rrower and Lender ca�enant�_a�ree,a,s fvllaws: <br /> UNIF4RM C�]VENANTS, <br /> 1. Payrnent of Principal, Borrov�er shall pay when due the principal af the debt e�idenc�d by <br /> the No�e. <br /> Z. B�rrower l�ot Released; For�earanee By Lender Nvt a Waiver. Extension vf the time of <br /> payment of the sums se�ured by this 5ecurity Instrurnent granted by Lender ta any successor in interest of <br /> Borrawer sha�l not aperate to release the liabi��ty of the original Borrawer ar Borr�wer's su�cess�r in <br /> interest. Lender shall not 1�e required to cammence proceedings against any suG�essor in interest or refuse <br /> to extend time for payment �r atherwise mod�fy amortization af the sums secured by this Security <br /> Instrument by reason of any demand made�y the ariginal Barrower or Borrawer's successars in interest. <br /> Any fnrbearance by Lender in exercising any right or reme�y shall not be a wai�er �f or preelude the <br /> e�ercise af any right or remedy. <br /> 3. Successors and Assigns Bound; Joint and Se�eral Liability; co-s�gners. Th�ea�enants and <br /> agreements af this Securit� Instrument shall bind and benefit the successors and a�signs of Lender and <br /> Borrower. Borrvwer's �ovenants and agre�ments sha�l be joint and se�eral. Any Borrower vvho co-signs <br /> this Se�urity Instrumen� but does not execute th��lvte: �a� is ca-signing this S�curity Instrum�nt anly to <br /> mortgage, grant and �onvey that Borrower's intere�t in the Praperty under the terms of this 5ecurity <br /> Instrument; �b} is n�t personally obligated t� pay the sums secured by this Security Instrument; and �c� <br /> agrees that Lender an any �ther Borrower may a�ree to extend, modify, forbear or make any <br /> accommodatians with regard tv th� term af this 5ecurity Instrument or the No�e withaut that Borrower's <br /> �ansent, <br /> 4. NDt1C�5, Any n�tice to Bvrrawer pr��ided f�r in this S�curi�y Instrument shall be gi�en by <br /> deli�ering it by mailing it by first ��ass mail unless app�icable law reQuires use of ano�her method, The <br /> nvtice shall be directed t❑ the Property Addres� or any other address Barr�wer designat�s by notice t� <br /> Lender. Any notice to Lender shall be gi�en by firs�class mail to: <br /> U.S. Department of HUD <br /> Cla DEVAL LL� <br /> �Ves�p�int I - 1255 Corporate I�ri�e,Suite 3U0 <br /> Ir�ing,T�75�38 <br /> Toll-Fre�: �877}6Z�-85�5 <br /> �r any address Lender de�ignates b� notice �o Borrower. Any n�tice pro�ided f�r in this 5ecurity <br /> Instrumenf sha�l �e deemecl to ha�e been g�ven t� Barro�ver �r L�nder vrrhen gi�en as pravi��d in this <br /> p aragraph. <br /> 5. �a�erning Law; Se��rability. This Security Instrument shall b� go�erned by Federal law <br /> and the law of the jurisdiction in which the Property is�ocated. In the event that any pra�isinn ar claus�of <br /> this Se�urity Instrument or the Nate conf�icts with applicable law, such canflic� shall not affect other <br /> pro�isions of this 5ecurity Instrument ar the Note whi�h can be given effect withou�canflicting provision, <br /> To this end the pro�isians�f this 5ecurity Instrument and the Note are dec�ared to be severable. <br /> Page 2 af 7 Initial <br />