|
.�___. � �
<br /> , �.�:�tK���.o���. 90�--- 10 4�3 5
<br /> ' (U Rhh�ll.Leader may�except as limited by rtsu4tloa�is�ued by the Secretary in thc case of psyment defaulta.require
<br /> ima�ediate p�ytnent in ttill of vl sum�secured by this Security Insirument lf:
<br /> li111nttnwr Arjw�il�hY fwi inw!��►wY i��1�11�n�r m�nthiv narvm'�lt n!n��ir�vi�+�r lhi�Cecu�ity 1��trumenl ntinr tt►t►r t►p
<br /> . �� ehe dw d�ta�t the aext manthfy payment�or
<br /> (ii)Borrower defaults by fdUa�i�for a pedod of thirty day�,to perform any othcr obllaations contained in this Security
<br /> i Ia�cvmatt.
<br /> l�1 S�k N►MM�t Cr�t A�ravd.i.e�der aludl,if by appliaMa!aw iuid witA the p�cx�pcuval of tha Secrotary.reQu3ra
<br /> imnedi�le pryma�t io 1NI1 ot ali We sum�secuced�Sewrity inhvvt�t if:
<br /> (i)All or pat d'tbe Pi+ope�ty is athawi�e trarokrred(od�a thn by devi�e a da�ar)bY tho Borm�vu.aod
<br /> (ii)7Ue Piapeety b not ooc�pied by the purchder or�e�ntoe�hi�ar ha�prLa�ry or ie000dary raidenoe,or tho pu� or
<br /> �nbe doa a oau�y d�e Prope�ty but hi�or her credit hs mt lx��pp�v��ed io a000cdmoe wldi the requdnanaKs of the Secr�etacy.
<br /> (e)!W W�.If drcumuanca occur tbst wouW permit I.eader to requin immediate payn�eat in full.but Lender doa not
<br /> roQuire wch p�yments.Leader doa not waive Its ri�ht�with rapect to subxqumt eveats.
<br /> (i)1b�i�qor oi IND 9�entsr�.Ia many circumst�nces rejulations issued by the Secretary vriU iImit Lender's rijhu.in
<br /> tbe ca�e of p�ymeat defaulu.torequire lmmediate psyment in full uid foceclox if not paid.Th9�Secudty Instn�ment doea
<br /> not suthorize sccekration or foreclwure if not permitted by reruladons of the Secretuy.
<br /> �. �irbM�t. Borrow�er b�s a risht to be n�instated if Leader hu required icamediue paymeat in full because of
<br /> Borrower's failure to pay�tn aarount duo uader the Note or this Saurity Iastniment.This rl�ht applle�evea after forecloaure
<br /> '__ prooeedinR�are instituted.To ninstste the Security lnstruma�t,Horcower ahall tender in a lump sum all amaunts rmuired eo
<br /> � brins Borrower's acoonat current includin�, to the eateat they ue obliptlons of HorroMer under this Secudty]nsuument, �
<br /> � foroclaure costs and re�onabk and cuatomary attomey's fas and ea�penu� property associated with the foroclaaure
<br /> � prooaedins.Upon reinstatement by Borrower,th9�Secudty Instrument and the obligatioas that it secures shall remaia in effect�
<br /> if Leader bad noe reQuired iwmediate payment in full.However,Lender is not required to permit reinstatemeat if:(1)Lender has
<br /> accepted reinstatanent after the commenoemcat of foreclasure proceedinss witldn tw�o years immediately preoedin� the
<br /> ooma�eaoaaent of a current foreclosure proceeding, (i�reinstatement w1U preclude foreclosure on different ground�in We
<br /> fnrure,or(iii�reiatatemeQC wjll:dverxly affect the prlority of We lion created by this Secudty Instrument.
<br /> 11. 1o�rower 1Vot l�eka�ed; For6an�ce�Le�der Not s Waher.Bxtension of the time of payment or modification of
<br /> anortizRtion of the�w socwed by this Securit?Instrument granted by Lender to any successor in intuest of Borrawer sh�ll not
<br /> opaue to teka�e the li�bility of tAe orl�i,nai Bonower or Borrower's sucoGSSOr in interest. Leadec s,hall aot be requirai to ,
<br /> 1 commence proaodinp uainst any aucassor in interest or refuse to eatend Hme for payment or otherwise modify amortiudon • �
<br /> of tbe sums secured by thi� Secu�rity Instrument by reuaa of any dtmand mule by the original Borrowcr or BorroNer's
<br /> � � snooessors in interat. Any forbearaace by L.ender ln eaacisiag any rlght or remedy shall not be a waiver of or preclude the �..,;
<br /> � a�aciae of any rljht or remedy. � :�
<br /> � 12.3aa�ots�d AWp�Eo��d.Jof�i ud 3everat tlabWty;Ca-Sf�aen.The covenants and agrcemenu of this Savrity =_- - ,- _ :``--
<br /> + Inswment shW bind and beneflt the sucxasars and assigns of Lender and Borrower,subject to the provisions of paragraph 9.b. �
<br /> ' Borrower'a covenants and agraments shall be joint and several.Any Borrower who co-signs this Security Instrument but doa ��
<br /> � aot execute the Note:{a)is oo-signing this Sxurity Instrumrnt only to mortgage,grant and convey that Borrower's interest in -
<br /> � the Property under the tertns of this Security Instrument;(b)is not personally obligated to pay the sums secured by tlris Security -
<br /> Inatrument; and (c) ajras that Lender and aay other Borrower arzg agra to extend, modify. forbear or make any
<br /> ! acoummodation�with reprd to the term of this Security Instrument or tde Note without that Bonower's consent.
<br /> �
<br /> i f3.N�dca.Any notia to Bonower provided for in this Secutity Instrument shall be given by delivering it or byr maiIing lt by
<br /> � firat cl�ss mail nnkss applicable law requires use of another method.The nodce shall be directed to the Property Address or any
<br /> : other addras Boaower design�tes by noda to Leader.Any notIce to Lender shall be givea Uy first class mail to Lender's address
<br /> • atued heran or any address Lender desi�aates by notice to Bonower.Any aodce provided for in this Security Instrument shall
<br /> be deemad to have been given to Borrower or Lender whea given as provided in this paragraph.
<br />• �
<br /> 14.Go�er�s I,�w;&�eraWifty.This Security Instrument shall be govemed by Federal taw and the law of the jurisdiction in
<br /> rvhich the Property is loc�ted.In the event thAt xny provision or clause of ttris Security Iastrument or the Note conflicts with ap-
<br /> plkabk law,such contlkt shall not affect other provisions of this Security lnstrumeat or the Note which can 6e�ven effect
<br /> ' w�ithaut the confUeting provision. To this ead the provisions of th�s SecurIty Instrument and the Note aze declared to be �
<br /> severabk.
<br /> i�
<br /> lS.Eorrower'a Copy.Borrower shall be given one conforwsd copy of this Security Instrument.
<br /> ' K.Atrip�t o!Re�b.Borrower uaconditionally assigns and transiers to Lender all the rents and revenues aF tt�e Property. � �
<br /> Borrower authorizes I.ender or Lender's agents to collext the rents nnd reveaua and hereby directs each tenant of tbe Propert� •
<br /> , to pay the rents to Leudet or Lender's agents.However,prior to L.ender's notice ta Borrower of Borrower's breach of any cove-
<br /> nant or�grament in the Security Instrument,Boaower shall collect and receive all rents and revenues of the Propeny as trustee
<br /> for the benefit of Leader and Borrower.Tliis assignment ef rents constitutss an abses:te assignment and not an assignment for
<br /> addition�security only.
<br /> If Lender gives notice of breach to Borrower:(a)all rents received by Bonower shall be held by Boaower as tnuta for benefit
<br /> of Lender only,to be applied to the sums saured by the Secudty Instrument;(b)Lender shall be entitled to coUect and receive aII
<br /> of the rents af the Ptoperty;and(c)each tenant of the Property shall pay all renu due and unpaid to Lender or Lender's agent
<br /> on Lender's written demand to the tenant.
<br /> Borrower has not eaecuted any prior ass;gnment of the rents and has not and will not perform any act that wonld prevent •
<br /> Lender from eacetcising lts rights under this paragapb 16.
<br /> ' Lender shall not be sequired to enter upon,take control of or maintain the Property before ar after giving notice of breach to
<br /> Borrower.Hawever,Lender or a judicially appointed receiver may do so at any time there is a breach.Any application of rents
<br /> shaIl not cure or waive any default or invalidate any other right or remedy of L.ender.This assignment of rents of the Property ' --�� -
<br /> shall terminate when the det,t secured by the Security Instrument is paid in full. '
<br /> �
<br /> �
<br /> L �
<br /> �t
<br /> ti
<br /> to
<br /> tA
<br /> . ,
<br /> Page 3 oj 4 �
<br /> __ __- _ -_ _...,..�.� - - -�--
<br /> ------ ---�CfD!YLM►YYw.��s.i.•. �[' - ++��Mj•,-'�.j,t n 1 �Ft-t�'�)�1/s Yi.dR+ine'.rr.i.#T�edrb�':,��sv..:.c.sc� - - -" .
<br /> _ . � . ,� .�..c Sc� _"_...SSL.�� ��-i;��_ , t�.a �,�". 7-!'^`Y'Y
<br /> — �
<br /> -_._.�R,�..� �„�:.._., .; r ,q^�r:. '*��Ti!�',,S'�'z,�,�+'°�,,� � '' � . ...: -�-,�r�.��-...-���''*� , , :*,.- . ""�.�s'f�.�. -.�C��;3k�.'A?��?' .y:'.
<br />
|