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<br /> � � �a—=� io�.a2s � �
<br /> Any application of the proceeds co the principal shall not ex[end or postpone[he due daae o�che monthty payments,which
<br /> are�referred to in Paragrapi� 2. or change�he amount of such payments. Any rxcess procreds over an amount required to
<br /> - ' pay all oatstanding indebtedness under the Note and this Sccurit�Instrument shall be paid tp the.entity legally entitled thereto.
<br /> 8. Fces. Lender may collect fees and charges authorized by thc�ec,�retary.
<br /> � 9. Grouads tor Accekration of ikbi. � �
<br /> (a)Detaull.Lender may.except as limited by regulation�issued by the Secretary in t he.case of payment defaults.require
<br /> " rmmediate payment in fuli of afl sums secured by this 5ecurity Instramer�t if:
<br /> (i)Bonower defaults by failing to pay in full any manthly Qaym�nt required!�y thi;:Security Instrument prior to •
<br /> or on the due date of the next monthly payment�or , ,
<br /> ' (ii)Borrower det'autts by failing, for a periad of thirty days, ta perform any oJhe.,r ubligations contained in this '
<br /> Security Instrument.
<br /> f (b)Sate Without Credit A rov�l. Lender shall,if
<br /> � pp p�cmitted b3 app�icable ia�ti a�d �Hith che prior appr�val af the
<br /> i . ; Secretary, require immediate payment in fulD of al! the sums securcct by this S:ct�rit;� lnssrument if:
<br /> � � (i)All ar part of the Property is otherwise transferred (oiher than by devise or.�lescent)by the Borrow�r, and
<br /> . .; - �
<br /> _ (ii)The Prapeny is not oceupied by the purchaser ar grantee as his or her prir*�aty or secondary residence,or the
<br /> � � - purchaser or grantee does so occupy the Property trut his or hQa credit has not.been approved.in accordance with ,
<br /> � � '. . tlte iequirements of the Secretary.
<br /> � .
<br /> i
<br /> � (c)fYa W9iver. If circumstances occur that would permit Lendes to require immedia¢e payment in fult, but Lertder
<br /> does not require such paymenis, Lender does not waive its ri�hts with respect tp subseqaent events.
<br /> (d}Regalations of NUD Secretary.In many circumstances regulatior��issued by the Secretary wilE limit�.ender's rights
<br /> � in ih�case of payment defaults to�equire imis�.diate payment irt fulf attd forecfase if not paid.This Security[nstrument �
<br /> does rrat authorize acceleration or foreclosure if nat �sermitted by regulatiQns.of�he Secretary. �
<br /> 10. Relestatement. Borrower has a right to be reinstated if Lend�r has required immediate�sayment in full because of
<br />' i Borrawer's fafilure eo pay an amount due under the Note or this Security Inetniment.This right apgiies even after foreclosure
<br /> - praceedings aze instituted.To reinstate the Security Instrument, Borrotive�shall tendes in a lurnp�-um all amounts required�
<br /> ; tn ilring Borr�.;ec-r's accounc current including,to the extent th�;arP obligatibns of 8orracver under this Security Instrument, ' `
<br /> � ' fc�rc�iosure caFu�r.d rea5onable and cu�tomary attorneys' fees and c��enses properly as,aci�ed with t�e foreclasure proce�ding. �
<br /> i i]prn reinstatement by Bacrawer,this�ecurity Instrurraent and theobligations that iE��cures shall rc-r�xain en effect as if Lender
<br /> frai�not reyuired immediate�r,��•rnent in full.However,Lender is not required ta permit reinstatement i�:(i)Lender has accepted
<br /> rei.statement after the cornn-:lcement of foreclosure proceedings witbin t�•�s y�ears imi�edaately prPCeding the cammencement � •
<br /> . of a current foreclosure proceeding, (ii)reinstatement wiJl preclude foreclosure on diffeTent grounds in the future. or (iii) '
<br /> ` reinstatement �vil!adversely affect the priority of the lien created by this Security Instrument. '
<br /> ; -_:
<br /> � I1. Borrower Not Released;Forbe�rance By Lender Nol a Walver. Extensian of'the time of payment or modi�c.ation
<br /> . � of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower -
<br /> shall not operate to release the liability of the original Borro�ver or Bonower's successor in interest.Lender shall not be required ;��
<br /> to cammence proceedings againsc any successor in intQrest or refas�to extend time for payrnea►t or othenvise modify amortization
<br /> of the sums secured by this Security lnstrument by reason of an3•de�nand made by the originaD Borrower or Borrower's successors ": ;�
<br /> in interest. Any forbearance by Lende�in exere�sing any righ,t��r remedy shall not be a�vaiver of or precfude the exercise of !�
<br /> j any right or rQmedy. ,;}
<br /> �
<br /> E 12.Successors and A��:���s BouRd�doint ansi��erai Llability;Go•Signers.The co�cn�nts and s��r:�.ments of this Security
<br /> � Instrument shati bind and benefit th�successors and assigns of�ender and Sorrower. �u�secl to t'r:z provisions of paragraph r
<br /> � 9.b. Borro��er'�covenants zrr�f agreerr.ents shal) be joint and�c:veral. Any Rorrower aho co-signs this Seeurity ]nstrument '
<br /> . i but does not e:�.ecute the Note:(a}is co-signing ihis Security Inscrument anl,to mortgage, grant an�i eonvey fflat Borrower's
<br /> , interest in the Praperty uasi�c the terms of this Sc::�:rity Instrument;(b)is not personally obl�gated t�pay the sums securcd •
<br /> by this 5ecurity Insirumeiit;a.i:d(c)agrees that Lend�.r anul any other Bprro�ver may agree tu extend,�:,odify,forbear or make ;�r�',r
<br /> any accommadations with regard to th;term of this Security (nstrument or the Note �k:?hout that Borrower's consent. ���r��
<br /> ' � �:":
<br /> � 13.Notices.Any notice to Borrower provided i'or in this Security Instrusnent shzll L-�s�iven by delivering it or by mailing . .
<br /> � it by first class mail unless applErable law requires use of another method.Tite notice sl�aii:-c directecl to ti�e i'roperty Addre�s
<br /> or any other a�dress Borrower designates by notice to l.ender. Any notice to Lencler sh2!�be given by�rst class mail to Lender'�. �
<br /> address stated herein or any address Lender designates by natice to Borro�tiec.�ny notice pravided for in this Security Ins!n;inr-i�t
<br /> shall be deemed to havc been given to Horrower or !_ender when g'iccn ay prpvi�ed in this paragraph.
<br /> 14.Governtn��.aw:Severability.This Sccurity Insuument sl�alI be�a�crncd by Fcderal lativ and thc la�v oP the��ris�ic;ticfi� �
<br /> in which the Prop,��ety is located. In the event that :�ny provlsion or clause uf thls Serurity Instrumeiit or thc Note e�nflicFs
<br /> � with applicable law, such conflict shall not affect oihes procisions of this Scrbrity Instrument or dte Nute which can bc given
<br /> e1'fect without the conflictin� provision.To this end the provisious af this 5ecurity lnstrument �nd thr Note are declared to
<br />. �Tv S�L'(,`Tt`1�Si^v.
<br /> • 15. Borrower's 4opy. {3orrower shall br give�� one cunfarmed copy of'this 5ecurity Instrumrni.
<br /> ib.A�signment��i Renty.Borrov�•er u�tr�nclitiun�.11y assigns and transf'crs t�t,ender all�he rcniti and revenucs oi'thc!'rc�perry.
<br /> � Borrower authorizes Lender or Lender's abeuts to collect the rrnts antl rcvenues and hereby direcls rach trnant of the Prc�perty __ ____
<br /> to pay thc rents ta I.ender or Lrnder's agents. H��vever. prior tU I.rnder's notice to 13orrntser of 13urre��ver's breanc �>f� any '
<br /> cocenant �r agreemrnt in the Security Instrument, Qcyrtower 5hal)cullect and receive all rents and revenueti�f ifir prc�perty '
<br /> as trustee for the brnrfit nf t.endrr and Borro��cr. "i�hiti as.ri�nuient of rent� constitutes;in abwlutr ustii�;nment and nat an �
<br /> assignmcnt fcsr additinnal 5ccurity only. ,
<br /> [f Lcuder giveti twti�r oE hreach tc�liorr�ucc: (tt!a11 rents recei�ed by Borr��ver sha8 be heW b� I3nrunver:���ru�tee fnr .i�..:
<br /> 6cneft of Lai�cr oiily, tu 6c appiicd to Ihc tiums SrcurcJ by tbc Sccurity� InsUinncnt; (b► I.cu�lrr til�all hr cntiticQ t�� cullcrt
<br /> and rr�ricc al) uf the rcnt5 of thc Nrupert};tincl Icl cach tcnatu cif thr 1'rc�pitty �1riU ptly aU r�nt5 duc�����i ����naicl tc� Lcndcr Y
<br /> � ur Lcudcr'ti ,i�en� oii I,cn�lcr'� «rittcn dcmc�uQ to thc �cnant.
<br /> t3c,tra��cr ha;nc�t etie�utcd:mv��ni,r u�•.i!'.O{IIli1I lY�(Fll'TC11I4.�nd Ir,�.ne�t and 11 iU ni�t�r�rf�rr►n.w�.ict that «e�ultl��rc�ent �
<br /> t cndcr f'rcim c�crri�in�: it� riE�hts undrr �I�i� ptiraenipii 1/,. ty
<br />- ' 1 cnttrr�helt nnt hr rct�u�rr�f f��cntct upun.tal,�•�x+nU�d��1 �u m.�int�uif ihc 1'tiq,rtly hct<,rc�,t ,�It�•r t��t an;r n��t��c tH hrrarh ��
<br /> �U i��,rrf�ucr. iluti�.c��•r. � l'll/�l'[ (4 il)lS[�Itld��� ,:Jt�ll�IIICEI� IC�t'I1Ct" 1ll�f� CJf+ �(� :!! .lFl} (iUll' I�iLiC I4 .! ��t�.l��l. tl�� d��E•�li.117e�;: �
<br /> ctt fCIYI4 Slk�ill rrut �u�E•��t u.�i�c ;u« il�•!.!t►tt u� ctE+.:lu4.nr au_ i,thet siE#it Etr ��i::�cl: �+1 l�sidr. {!3�- ,F..t,,rtr:�in �•t r�nr. .,p ". "
<br /> ttie F�r��i�:•rs� �-tr,ill icrmtr��tr •.sh:ii thr drht �_�inciE f,. Itri`+c.'tin�t I�i-.(tuiu��ir! r� {�.�i�i ur �ult
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