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<br /> 90--�.p�309
<br /> �.GroM�ds tor AeceknNo�ot Dcbl.
<br /> (�)[ht��h.Lender mAy,exccpt es liiutted by reaulations issued by the Sccrztary in the cese oF paytnr.nt dofaults,require
<br /> � immecliate payntene i7 iap af Atl sums securtd by thl�Security Instrumen! if:
<br /> (i)Bortawer def�ults by iailins to p�y in fuU any monthly payme�lt requieed by thls Security Instrument prior to or an
<br /> the dae d�►te ot the next monthly p�yment,or
<br /> � (ii)Bartawer defautts by f�llin�,for A pedod oi'thlrty days.to perform any other obUgations contained i�this Security
<br /> In�trument.
<br /> t�)S�le WM�eet Credk Apptoval.I.ender et�all�if pctmitted by applkable 4w and wiM the pdot appcaval af tbe Sec�tarY.�equtn
<br /> �nmedl�to p�ymeat in fldl af all the sums aocured by thls Se�curity In�m�meat if:
<br /> � t�A11 or put of tho Pinpe:ty is athenvise transferced(ott�er thAa by dovlso or descent)by thc Borrowa,aM
<br /> (ii)71�e PcoportY is na occ�+pied by the purchaser or gsentoo as hie cx her primwry cN socandary resideaoe,or the purchaser or
<br /> . gtao�ee does ao occ,ypy tta Pt�opea9 but l�is or her cradyt h�a not been appravod in aeoorden�.ro with the requiranents of tho Socretary.
<br /> `s�D 1�t��Ifai�e�IP circumstaneea occw t��wc�u���rsuiY�r�dtA R�insquire lmmediate payment In full,but len�er does�sat
<br /> � � cm�,� �i�a�yaent�,Lender dnes er�d vc�n��e 6t�righ�a Ra�t�i mes�r�subsepuznt e�rc�4s. �
<br /> j ��p lh�i�l�s ot H1JD Secret�ry.Ia maay csrc�aceo.�ta�.^�.�ts regul�ttians is�ued Dy th�5nretar;wi11 limit Lendrr's rlghts.�
<br /> � t�fe ca�of payment defaults,[o requtre immedi�te payment in full su�d foreclosa if nat paid.This Secudty Instrument dots
<br /> j not authorue acceleration or foreclosure if not permitted by rc�ulations of the Secretary.
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<br /> 1�. RN�l�teeert. Borrower has a dght to be retnstated if Lender has requlred immediate psyment ia fuq because oi
<br /> ' Borrower•a failurc to pRy an amount due under the Note or this Security lnstroment. Thi�right apptie�even afte�forcclosure
<br /> � proceedin�are instituted.To reinatatte the Security Instrument� Bonower ah�ll tender i��lump sum all amounts required to
<br /> � bdn� Horrower'a account cuRent lncludin�, to the extent they ue obliRation� of Barrawer under this Secudty lnstrument�
<br /> fareclaure costs and reasonable and customary attorney'� fees Rnd expeeses �roperly �ssoclated with the foreclosure
<br /> proc�edin�.Upon reinat�tement by Bonower.thi�Security Instrument and the obli j�tions thRt it secure�shall remain in effect ss
<br /> if Lender Md not required immediate p�yme�t in fup.However,Lendcr is not requirM to permit reinu�tement ii:(i)4ender has
<br /> aacepted nlnst�tement after the commenccment aP fareciosare proceedin�s withln two yars immediasely precedin� the
<br /> � commeneement of w curcent foreclosure proceedlnj� (ii)reinstatcment vrip preclude foteclosure on different Qrounds in the
<br /> future,or(ili)reinstatement w111 advercely affect the priority at the lien created by�hi�Security lasirument.
<br /> ll. loRewer Not Rekau�;Fo�n�a Br Le�der Not a Wvver. fiatension of the time of paymcnt or modification oi
<br /> unortlutlon of the sum�secured by this Seeurity Instrument granted by Lender to any successor in interest of Horrower stull not '
<br /> opente to rele�se the liability of the orisinal Barrower or Borrower's successos in interest. Lender shall not be required ta
<br /> cammence proceedin��ainst xny successor in interest or refuse to e�ctend time for payment or otherwise modify amortization
<br /> of the suma saured by this 3ecudty Instrument by rcason of any demand made by the original Borrower or Borrower's �
<br /> • successors in interest.Any forbearance bY Lender in exercising any right or rtmedy shap not be a waiver of or preciude the .
<br /> acerclse of any right or remedy.
<br /> � u�groee�oe s�d A��Boa�d;Jolat��d 3everal LisbiUty;Co•3i�seea.The covenants and agreements of this Secwity ,
<br /> iu.^trutnnent s�sll b3ud en�ber.efit the succ�csors and assigas of Lender and Borrower,subject to the provisions oi paragraph 9.b. , , _
<br /> i Borrower's covenants u►d a�eements shall be joint and sre�eral.My Borrower who co•sigifs this 5ecutiey Ittsi�utuCttt vui u'� �___. _
<br /> not execute t6e Note:lal is co-si�AinB this Security Inst�ent only to mortgage,gtaat and wnvey that Borrower's interat in
<br /> the Property surdes tbe te�ims c€this Sec��:a;.rnstrument;(�e)is not personally obligued to pay the sum�secure�by t�is Se�uity � -_
<br /> � lnstrumeat; and (c) aacces that Lender aad aay other Borrower �ay agree to extend, modify, forbear or maka any _
<br /> , accommodations aith re�,«�a ihe term of this Security Instrument or t?�e Note without that Sorrower's consent.
<br /> ' �3.Notices.Any nodce to�rrower provided for im td��as Security Instrument shall be given by delivering it ar by mailing it by
<br /> ' first class mW unles�appHcable law requires use of anotR:�tr method.The notice shail be directed to the PropeRy Address or any '�
<br /> � other sddras Bonower designates by notice to Lender.My notice to Lender shall be given by!"ust class mail to Lender's address
<br /> • stated heran or any address Lender daignata by notice to Borrower.Aay notice provided for in this Security Instrument sAall
<br /> � be deemed to have ban given to Borrower or Lender when given as provided in this paragraph.
<br /> � ', it.Go�erd��Law,Se�ersbidty.7'h9s Security Instrurneni shall be governed by Federal law and the law of trt jurisdictlon in
<br /> � which the Property is located.In the evecee¢hat any provisian or clause of this Socarity lnstrumeut or she Noce conflicts with ap-
<br /> � plia�ble law, such conflict shall not affer.ocher provisions of this Security instrument or the Note which can be given effect
<br /> vrithout the conflicting provision. To this end the provisions of this Secudty instrument and the Note are declared to b�
<br /> ; severable.
<br /> ; ]S,aorrower's Copr. Borrower shall be given one conformed copy of this Security Instrument. ��:'
<br /> M.As�l�meat oi Rents.Borrower unconditionally assigns and transfers to Lcnder all the rents and revenues of the Property.
<br /> Borrowtr autharizes Lender or Lender's agents to collect the rents and revrnues and hereby directs�ach tenant of the Property
<br /> ' to pay the rents to L.ender or Lender's agents.However.prior to Lender's notice to 9onower of Borrower's breach of any cove-
<br /> � nant or agreement in the Security Instrument,Borcower shall collect and receive all rents and revenues of the Property as trnstee
<br /> � for the benefit of Lender and Borrower.Thls assignment of rents constitutes an absolute assignment and not an assignment for
<br /> � addidonal securitY oaly.
<br /> lf Lender�ives notice oP breach to Borrower:(a)all renis received by Borrower shall be held by Bonower as trustee for be�aefit
<br /> of Lender only,to be appUed to[ha sums secured by the Security instrument:(b)Lender shall be entitled to collect and receive all
<br /> of the nnts Rf the Property;and(c)each tenant of the Propeny shall pay all rents due and unpaid to Lender or Lender's agent
<br /> on Lenda's writtrn dem�nd to the tenant.
<br /> Borrowa hu not eaecuted any prior assignment of the rents and has not and will not perform any act that would prevent
<br /> Lender from exerclsing its rights under thu paragraph 16.
<br /> Lender ahall not ix required to enter upon.take control of or maintain che Propeny before or after giving notice of breach to
<br /> Borrower.However,Lender ot a judicially appointed receiver may do so at any cime there is a breach.Any application of rents
<br /> shall not cure or waive any default or invalldate anY other right or remedy of L.ender. This assignment of rents of the Property ,__ �__
<br /> shall terminatc when the debt sscured by the Security Instrument is�aid in fuil. ,
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