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- . —• -- -- . . . .... .�.�_��_---.��a::.P �.. 11r:7-3� � -_� .. � — —_ — k �� •��" -j� � � ww¢�� 90-�-102322 !.GrorNda t�,r AcctknUo�ot Dsbt. (�1 pet�ti;t.Le�d�� y,c�.cept�a:��ttd b;regulatians issue�.!by the 9:�ccetasY in 4he c3ss of payinent cicFaulu, reqE�Irr iminediate payment in fttU oi�Il suma secured by 1F�is Securi�y Instrument if: Zi)Borcower defaulte by [�11Inj to pay in full aAy monthly payme�lt rcqulred by this Security Instrument prior to or on � the duo date of the nesc monthly paymrnt,or (ilj Borrower default�by tailin�.for a period of thi�ty d�y�,to ne�f�rm a��g�ther�atlgAtia�s cpnte►ineci in�hi�Securitp I�t�rument. (E)SNe WWort(.l��e�t Appeovd.Lea�der tl�ll,li P��+PP�icabk law�nd with the prlor apprnval of tM Serrttuy,ro9uire icmnedi�e p�ymait in fuU of�Il the w�m xcuced by this Securiry Imaummt if: � (7 All or pvt of tho P�opetty u atherwlx 4arefertr�d(other than by deviee or desarM)by the 9orrower�and : (ii)Tho Ampe�b'is ool oocupiod by the purclmer or�n►�tee�his or her qimasy or s000Mnry resldena,oc the purchaser or � p�noe doe�so ooa�py the Propeny Dut h�i or!fa ctedit tau not been�ppaved in�aooad�noe with the ioqui�naki of the Secreury. ' (e)N�W�.lf ctrcumstsnces occur th�t would permit Lender ta require immedi�te payment In full,but Lender does not � requlre such p�yments.Lender does not waive ita rlahts with respect to subsequent e�ents. ; (�)�Ytkr of HUD S�eret�.In many ctrcumstanas re�ulations issued by the Secretuy wlll limit Lender'e right�,in � tbe c�fe of psyment defaults.to roqulre immediate payment in full and forcelosc ii not paid.Thu Secwity Instrument does ' not authorize accekratioa or fanrlosure lf aot per�nitted bv regulations of the SecreUuy. � l�. �le�e�t. Ronower h�u a ri=ht to be rcinstated if l,a�der has required immediate payment in full because of Borro�er's faiture to p�y an�nount due under the Note or this Security I�strument.Thi�rlght appUa evea after foreclosure proccedin�s are instituted.Ta reinstate the Securlty Instrument,Bonower shaU tender ia s lwnp sum dl amounts required to brins Bonowrer's ucount current inciuding, to the e�ctent they are obli�atiom of Bortower under this Secu�ity Instrument, � foracloeuxe costs and re�.wnable and customary attorney's fas and eapeases properly associated with the forcclosure t proceedin�.Upon reinstatemrnt by Bono�rer,thts Security inmumeat and the obUgatioas that it secures shsll remain ln effect as � if Lenckr had not roquired immediate payment ia fuU.However.Lender is aot required to permit reinstataneat if:(�Lertder has acoepted reinstatement after the coaunencement of foreclosure proceedings within two yars immediatdy preading the commenament of�curreat foreclosure proceedin�, (ii) reinstatement will preclude forcelosure on different grounds in the j fut�ue.or(ii�7 relnstatement will adversely affect the priority of the Gen created by this Security Instrument. ! I3.ls�rower Not Reka�e�; Foe�e�n�ce d�Le�der No!a Wairer. Eateasion of tke tIme of payment or modificatlon of amorti�t�on of the stuns socured by this Secucitf Instroment grantM by LeQder to any successor in interest of Borrower shxll not � operate to rekax the tlabllity of tl�e ori�ina[B�rrower or Borrower's sucti.-essor in interest. Lender shnll not be required to oommeaoe proaYdings a�ainst any successor na finterest or refuse to extend time far payment or otherwise modify amortizatlon • ! of the sums seciued by this Security Instrument by teason of any demand made by the orlginal Borrower�r Borrower's . suocessors in interest.Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or praludc the • exercix of any right or remaly. • � i�.4�r.�.as ud As��s Eo��d;Joln a�i 3eTeral ILbWty:Co-SiReen.The covenants and agreements of thia Security L�-� + Iastrument shaU bind and benefit the sua�essor�ond�ssigns of Lender and Borrower.sub9ect to the provisions of paragaph 9.b. --__ I Borrorves'�wvenants and agraments shall be joint and several.Any Borrower who co-signs this Security lnstrument but docs - - $vi cnit;uic�iva irGic:titj i"s a�-aiy�tt�ii$�uus un"'iiiii�i Tiwti uiil�i�i vTiif tv iAvfilf�lfr�lS�aIIF iTiv�BBL'cj's�iit wfiCsT:�.i�S�i3L`i'.oZ:n � t6e Property under the terms of th�i Secwity lnstrument;(b)is not personal{y obUgated to pay che sums secwed by thia Security , Inswment; aad (c) aarxs th�tt Lmder and any other Borrower may agree to extend, modtfy. forbear or make any - � ucommodations with regud to the term of this Security Insc�ument or tRe Note without that BarroRer's consent. � l3.NWEces.Any notia to Borrower provided for in this Security lnstrument shall be gicen by delivering it or by mailin8 it by ��— i first chss mail unlest applicable lsw requira use of another method.The notice shall be directed to the Property Address or any t other address Borrower deslgnates by notice to lender.Aay notice to Lender shall be�ven by first class mail to Lender's addtess ; atated 6erein or any address Lender designates hy notia to Horrower.Any notia provided for in this Security lnstrument shall ; be damed to have been given to Borrower o,r Leader when given as pro�ided in this puagraph. : I�.Go�I.�w;Se�enbWh•7'his SecuritY Instrument shall be governed by Federal law and the Iaw of the jurisdiction in whi�the Property is located.Ie the event that any provision ur clause of this Security Instrument or the Note conflicu with ap� > ' plicabfe law, such cont]ict ahall not affect other provisions of this Security Instrument or the Note which can be given effect withoat the conftictng provlsion. To this end the provisions of ttus Secwity lnstrument and the Note are declued to be �. . aeverable. a LS.Doerower's Copy Bonower shall be given one conformed copy uf this Security Instrument. ' K.A�ip�t of Ite�ts.Borrowcr unconditionaUy assigns and ttansfers to Lender all the rcnts and revenues of Ehe Propeny. , Borrower aythorizes Lender or Lender's ageats to collect the rents and revenua and hereby direct�each tenant of the Property to pay the rents to Lender or Lender's agenu.I{owever,prior to Lender's notice to Bonower of Borrower's breach of any covc- � naat or�grreement in the Security Instrument,Borrower shall collect and rcceive all rents and revenues of the Property as tnistee for the benefit of Lender and Bonower.This assignment of rents constituta an absolute azsignment and not an assignment for �dditional securitY only. If Lender gives notia of breach to Borrower:(a)all rents receivod by Borrower shall be held by Bonower as trustee far benefit of Lender only.to he applied to the sums secured by the Secwity Instrument;(b)Lender shall be entitled to collect ar►d receive all . . of the tents of tde Froperty;and(c)eaci�tenant of the Property shall pay atl renls due and unpaid to Lender or Lertder's aE[ent on�.ender's wr�tten danaad to tee tenant. Borrower has not executed any prior assignment of the renu and has not and will not perform any act that would prevent Leader from exercising its rights under this paragraph 16. Lender shall not be rtquired to enter npon.take control of or maintain the Propeny before or after giving notice of breach to Bonower.However,Lender or a judicialty appointed receivc�may do so at any time there is a breach.Any appliration of rents shaU aot cure or w�ivs any defautt or invalidate any other right or remedy of Lender.This assi�tnment of rents of the Property ' ---- shall terminate when the debt secured by ihe Securiry lnstrument is paid in full. ' � L � � r �..�! - . �. .� - -- ------.------- . _- I'a2P +nl Q � — — .«.-,�.::.,--- — — - - 3-�"� -�i-'.-..Ri�°.'7�R�Y� _,� ,...... . . . _ . . ... y.,_... �..., ,_ . ..,. . .. � � � . . ..� �-;° - C= —r S ... : ., . . . ; ' � - . .- . . . � . . � � -- , r-�--°