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<br /> 9.Gro��tor Accekndou oi De6t. Q�_,,, �Q 2�1 �
<br /> t�)Deh�lt. Lender�nYy�exdcpt as IimitcJ by reguiKtions is9ued by the Secretnry in thrase of payment dcfaults. rcyuire
<br /> immtdixte payme�t In ful)of all sums secured 6y this Security Instrument if:
<br /> � (i)Ear.aa..r d�fauh�by f�a1L'ng e�puy in iull any momhly payme�lt required hy this Secur'ty Instrument prior ta or on
<br /> the due date of the nrxt monthly pHyment.or
<br /> (il�Banower dehults Gy fpiling� far e perind of thirty days,tQ perform any othet obllgations cnntainr�in this Seeurity
<br /> �inurumrnt.
<br /> (b)Sde Wk�an Ciedit App�av�l,l,ctxkr sAall,if ptrtnittod by wpplicablo law arn!wi�th the prior appmval of thc Socretary.roqnire
<br /> ' icnmedi�oe p�yment in full of aU the sums socural by this Security Inctruinent if:
<br /> , , (i)All or part of thc Pnoperty is otheTwlse truisfe�red(othcr than by dcvise or desa�t)by the Bomnwer, and
<br /> ; (ii)'I1w 1'eapeny is not oocupied by the p�u�ct�aser or guMa�v his or her primary or socondary residenoe, or the
<br /> gra�eo does so axupy the Propeny but hia or her cradit h�s na been app�oved in�cocd�na wich the coquim��xs of�he�Sac�r or
<br /> i m� raauy.
<br /> � (t)No Wd�er.If circumst�nces occur that would permit Lender to require immediate pAyme�t in full,but Lender does not
<br /> ; require such paymenU, Lender does not waive ju righu with respect to subsequent events.
<br /> � (�)Re�Yflo�ot HUD S�ret�.In many clrcumstances regulations issued by the Secretary wIll l�mit Lender's rights,in
<br /> � the c�ue of payment defaults.to nquire immedlate payment in fuU and forcelose if aot paid.This Sccurity Instrument does
<br /> aot authoriu axeleradon oe foralosure if not permitted by regulatians of the Secretary.
<br /> i l�. Rel�hle�eiet. Borrower hss a rigM to 6e reinststed if Lender has requircd tmmediate payment in full because of
<br /> : Borrower's failure to pay u►amount due under the Note or this Security instrument. This right aDplios even after foreclosure
<br /> ; ptoccedinp are instituted.To reinstate the Security lnstrument.Bonower shaU tender in a lump sum all amounts required to
<br /> . brinj Horrower's account current including, to the extent they are obligadons of Horrowar under this Sccwity Instrument,
<br /> � foreclosure costs wd re�sonable and customary attomey's fees and expenses praperly associated with the foreciosure
<br /> E procoedlnj.Upon reinstatement by Honov�er�this Security lnstrument and the obl9gAtions that it secures shall rem�in in effect as
<br /> , if Lender had not required immedlate payment in full.However.Lender is not required to permit reinstatement if:(i)Lender has
<br /> � aocepted reinstatement after the commenament of foreclosure proceedings within two years immediately preceding the
<br /> � commencement of a current foreclosurc proceeding, (ii)relnstatement will preclude foreclosure on different grounds in the
<br /> E future�or(iii)reinstatement will adversely affect the priority of the lien created by this Security Instrument.
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<br /> �� ll.Eorrower Not Rekased;Forbean�ce By Le�ds� Not a Walve�. Extension of the time of payment or modification of
<br /> amorti�ttion of the sums securod by this Security Insuument granted by Lender to any successor i�interest of Borrower shall not
<br /> � operatr to relwse the liabilicy af the original Borrower or Borrower's successor in interest. Lender shall not be required to
<br /> � wmmence proceedings agains;any successor in Iraerat or refuse to extend time fos payment or atherwise modify amonizadon �
<br /> � of the sums secured by this Sccurity Instrument by reason of any demand made by the orlginal Borrower or Borrower's '
<br /> succqsors in inteaai. Any forbearance bg Lender ia oxercising any right or remedy shall not be a waivcr of or preclude the
<br /> exercise of any right or remedy. .
<br /> ; l2.S�oaieots aed '
<br /> As�a aoand;Jotnt snd Seveni Liability;Co-Sigoera. The c��enants and agreements of this Security ! _�
<br /> Iestrument shaU bind and bentfit the suxessors and assigns of Lender and Bonower,subject to the provisions of paragraph 9.b.
<br /> ; BorrOwe!'3 covenints and agreements shall be jnint and c�ver�l.Aa;Hoao:��r�:�ha ea-sigrss this securiri tnstrument buc dnes '
<br />- -- -�'- . [lOt C1tCtilILC It1C I�OIC.(8)1S C�-signing this�ecurity instrument only to mortgage,grant and convey that Borrower's interesi in : --
<br /> the Property undtr the terms of this Security Instrument;(h)is not personally obllgated to pay the sums secured by this Security
<br /> Instrument: and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any
<br /> � accommodations with regard to the tarm of this Security Instrument or the Note without that Bonower's consent. -
<br /> �4 13.Noda�.Any notice to Borrower provided for in this Security Insteument shall be given by delivering it or by maillng it by .1
<br /> first clau mail unless applicable Iaw requires use of anothor method.The natice shall be directed to the Property Address or any
<br /> s � other addras Bonower deslgnates by notice to Lender.Any notice to Lender shall be given by ferst class mail to Lender's address
<br /> . stated herein or any addr�ss Leader designates by notice to Barrower.Any notice pro�zded for in this Security Instrument shall �
<br /> i bt damed to have been given to Borrower or Lender when given as provided in t1�is �aragraph. - �
<br /> � 14.GovereL�s I,sw;Se�erabWty.This Security Insuument shall be governed by Federal law and the law of the jurisdiction in , �-
<br /> ! which the Property is located.ln the event�that any provision or clause of this Security Instrument or the Note conflicts with ap- t•—
<br /> : pllcable law, such conflict shall not affect other provisions of this Security insttument or the Note which can be given effect °""�
<br /> without the conflicting provision. To this end the provisions of this Secority instrament and the Note are declazed to be :�
<br /> ' severable.
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<br /> : lS.Borrower's Copy.Borrower shall be given one conformed copy of this Security Instrument.
<br /> ' 16.A�i=emeai o!Rent�.Bonower uncoscditionally assigns and transfers to Lender all the rents and revenues of the Property.
<br /> ' Borrower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs each tenant of the Property �
<br /> to pay the rents to Lender or Lender's agents.However,prior to Lender's notice to Borrower of Borrower's breach of any cove-
<br /> � nant ar agreemeni in the Security Instrament,Borrower shall collect and receive all rents and revenues of the Property as trustee
<br /> for the benefit of Lender and Bonower.This assignment of rents constitutes an absolute assignment and not an assignment for
<br /> � additional security only.
<br /> If Lender gi�es notice of breach to Bonower:(a)all rents received by Sorrower shall be held by Borrower as trustce for ber.efit
<br /> of Lender only,to be appUed to the sums secured by the Security Instniment;(b)Len�:r shall bt entitled to coltect and receive all
<br /> of��e rents of ihe Propeny;and(c)rach tenant of the Property sliall pay all rents dtie and unpaid to Lender or Lender's agent
<br /> on Lender's writtea demand to the cenant.
<br /> Borrower hzs cot executed any prior assignment of the rents and has not and will not perform any act that would pre�ent
<br /> Lender from excrcising its rights under this paragraph 16.
<br /> Lender shall not be required to enter upon,take contrvl of or mainaain the Pro�sery before or after giving notice of breach to
<br /> $orrower.However.Lender or a judicially appointed rece3ver may do so at any time there is a breach.Any application of rents --_- —
<br /> . sha11 not cvre or waive any default or invalidate any other right or reenedy of Lender,This assignment of rents of the Property �
<br /> shall terminate when the debt secured by the Security Instrument is paid in full.
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