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<br /> • � Yrt '. _. . — "' —_
<br /> . �' gl� 102682
<br /> :�.��t� .��' ,
<br /> Any applicatlun of thc procads to the principal shall not cxtend or postponc�ha due dut�af the momhly payments.wbich
<br /> �, are referred to in Para�raph 2,or change the amount of such payments. Any'excess proceeda over an amount required to __
<br /> 1.',;.;,�: � pey all outstandin�indcbtednecs under the Not�and this Sacurity Instrum�nt shall be paid to the eatity Ic�ally cntitled thereto. —V
<br /> �
<br /> , "� w '"� i.Feer, l.ender may collect fees and char�es authorized by tho Secretary.
<br /> , .. . 9.Gro�adr fw AcceknUoa of Debl. �•-
<br /> ;....� :: .
<br /> � °'`�""ti� �` (a)pet�ult.Lender may except as limited by regulations issucd by the Secretar�in the cese of payment defaults.requirc
<br /> ;a��.. !�'°:==—--=—
<br /> � " •' immediata payment in �ull oP all sums secured by this Security Inscromen� �f: —•--
<br /> ' '�+.��=:��` (i)Borrower defaul�s by failing to pay in Pull any monthly payment required by this Sccurity Inatrument prlor to i o,
<br /> "Y' ' `*�'�' - • or on the due date of th� next monthly payment, or
<br /> --°`�'"�s.�'.x.'.i: � �_�
<br />— -=���.:�'r••:�._
<br /> y,��;, (ii)Borrowcr defaults by falling, Por a Period of thiny days.to perPorm any other obligations contained in th a
<br /> s,,,��-�--"°"�"°^' Security lnstrument. --_ _�� _—
<br /> aY:c�
<br /> .,_��.'�' ' " ficable law and with the rior a roval of the _ �______
<br /> _-�.,y�,� • , (b)Sate WitMoNl Credil Approv�l. Lender shall, if permitted by app' p pP
<br /> � �+"' � Seeretary,requir�immediate payment ia fufl of all the sums secured by this Security Instrument ii: �.1�•��-___
<br /> -- �-,r,�,-
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<br /> L— I • . • -, �: � •_
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<br /> • (i)All ar part of the Property is otherwise transferred (other than by devise or�dTescen/t�)by thc Borrower, and tiY,ti F � —�
<br /> .�,-i�i,l� .�' � V ��f7 t - rJiF� - �-
<br /> _< . ,�� • sidence,orthe 1?l�......,;�..�
<br /> .,,�:;:.,.; (ii)The Property is not occupied by the purchaser or grantee as his or her primary� � ' � F+,,.,��,r^:_
<br /> ,,; .��- ' pu�chaser or grantee does so occupy the Praperty but his ar her credit has not been upproved in sccordance with ,}5,:;.._,,,:.
<br /> , „4�i; �� � . the requirements of the Srcretary. �;�c ----
<br /> ,f�, �� ,_ ..:a �o��v+
<br /> ,,, '�"•�1 ' , (c)No Wpiver. li circumstances occur that wouid permit Lender to require immediate payrnent in full,but Lender y��r'4! I r• .
<br /> , • � does not require such payments,Lender does not wuive its rights with respect ta subsequent events. ��ti, r`�r�� _
<br /> ' '`�' '� � (d)R e gulalions of NUD SeeretAry�.ln many circumstances regulations issued by the Secrctary will limit Lender's rights �r,,,;�,ti��•t,�_
<br /> , �.��.',`.,..' ���•'��' in thecase of payment de fau lcs to requ ire i m m e d i a t e p a y m e n t f n f u l l a n d P o re c l o s e i f n o t p a i d. T h i s S e c u�i ry In s trument ;t�':�.�{;�ti?1�,��'�,�"•''
<br /> - ' `j'r�'fl�:::. �' ,� '
<br /> ' '�f��S� . daes not autharize acceleratiap or foreclosure if'rnot pernniued by regulations of the Secretary. Gf`r 3t'Y�,,,_
<br /> >� �j��1(i�;�; .
<br /> �',!r�.
<br /> ••,;�;';1 '• " � . 10.Reiagt�temeal. Borrower has a right to be reinstated ii Lender has required immediate payment in Pull because of �r��� .
<br />'� .�,�'.: .;• � Borrower's failure to pay an amount dae under the Note or this Security Instrument.This right applies even after foreclosnre �Y�_,„�,
<br /> • y ,�,. , pcoceedings are instiwted.To reinstare the Security Instrument,Borrawer shell tender in a lump sum ali amounts required '-"� •�..'. ,
<br /> '�c�y,ti.,:; ��;;!,�:�� • . _...
<br /> ^�i��., to bring Borrower's accounl current including.to the extent they are obligations of Borrower under this Security Instrurnent, ;
<br /> ' ''��''�`��� �'�• f4iering�sg�auc and rensonable and customary attorneys'fees and expenses properly associated with the foreclosure proceeding. : - -
<br /> . ' ,:}`;��t.1�:''• ' Upon reinstatement by Barrower.this Security Instrument and the obligatiuiis that it s¢cures sha!!reitsain ia effect as if l.ender r;.Fi��+ :__ __-
<br /> '•'� ? • ;:t�,. �. had not required immediate paYment in full.However.Lender is not required to permit reinstatement i f:(i)Lender has accepted ,,�,y��,_,�:r _ ___
<br /> y � ';� ° ' reinstatement after the commencement o i farec losu re p ro c e e d i n gs within two years immediately preceding the commencement , : ,_u�,__._
<br /> ``'�°.. . ,,-,.,..;1
<br /> ' ►���ft�r•� '� df a current foreclosure procc�eding, (iil reinstatement will preclude foreclosure on diiferent grcunds in the future,or(iii) �--
<br /> ;:{ ,,;r;,;. •�
<br /> ��t,..,.�r reinstatement will adversely affect the pnority of the lien created by this Security Instrument. �Nyl✓Tl.�-.'�_-:
<br /> �. 4 �.::.�... -_
<br />. ' ' �1f1�i� . . �-..i �_:
<br /> I1, Norrow�er No1 Rekased: BorbeAronce By Lender Not a Walver. Extension of the timc of payment or modificetion __�
<br /> � ;„���: ' . � of amortization of the sums secured by this Security Instrument grunted by Lender to any successor in interest of Borrower
<br /> . �:,_�-.
<br /> � shall not opernte to release the liability o(the original Borrower or Borrower s successor in interest.Lender shall na be required �.� i,
<br /> � ,•`,. ,. to commence proceedings against any successor in interest or refuse to extend time for payment or othe�wise modify amortization ,•��':•?�'�.,. . �
<br /> � *';�� of the sums secured by this Security Ins�rument by reatic,n of any demand mnde by the original Borrower or Borrower's successors .;o,,,,,�.:��_, 'T
<br /> E�;,,:� in interest. Any forbe�rance by Lender in exercising any right or remedy chall not be u waiver of or preclude the exercise of �:
<br /> �t�';:�;i •., � " nny right or remedy. ►:•��r -
<br /> I,��a, � �" L '
<br /> •. , � 12.Sae�sors�nd AssiRns Boand;Joiat p�d 5eveml Liabillly;Co-5tgne�.The covcnants and ugreements of this Security ��:. ����•'�." '
<br /> ' Instrument shall bind And benefit the su�cessors und nssigns ot'Lender an�Sorrow�r,subject to Ih�provigions of paraBraph �.. �:• ,
<br />;,i...�,,`.�:': .,; ,, � .,�;:,,i
<br /> �c• . •�• • � ti,•�� , 9.6. Borrower s covenants und agrcements shall t+c joint and severnl. Any Borruwer who co-signs this Security Instrument �, �" �. .'���'
<br />,..,;�li, � ��l�?�,�� . . � �,, •
<br /> ,;,;;:t+•.,1;, '~�:!' ' but does not erecute the Note:(a)is co-sfgning this Security Instrument only to mortgag�,grAnt and convcy that Borrnwer's ,..5�
<br /> '��t,�; . " interest in the Propeny under the terms o t't his Sc�uri ty I n�t r u m e n t;(b)i s n o t p c r s o n A l l y o b l i g a�e d i o p a y t h e s u m s s e cured �.
<br /> ' ' ��E�� �. by this Security instrument;and(�►agr�es�hat l.�ns�r and any other S�rrowcr msy agree�o extcnd. modify, forbear or make �,°•�;�,;z��__
<br /> �"��s���;.' ` r�" ° , any accommndations with regard lu the term uf thi�Security� Instrument or the Note wi�hout ihat Borrower's consent. •�,�;�v
<br />�;,..::,�, ,. ,. •��{,�:; - -
<br /> �`���� �� t . , ' 13. Nolkes.Any nocice to Borruwer pmvideJ for in�his 5ecurity Instrument shull bc given by delivering it or by mniling • _ ••• ' �r� _
<br />' �� ' ��'''�'� ...,,.:: � it by first rlass mail unless applicuble law requirec use ut'another method.Thc noticc shall br directed to the Properry Address
<br /> . ,. •.�.�%,
<br /> , r ��;�'t-�t,�,a � , or any other address Borrowcr designates by nutice to Lrndcr. Any iwticr t��Lcnde�shall be gi��en by flrst class mail to Lender's #
<br />'.'�..;• ':i{rii,l' � ' • address stated hcrein or any address Lcnder d�signa�cs by noticc w[3ormw•cr.Any natice prov�dcd for in this Security Instrument r.., �.�;
<br /> ;�,�;•, shall bc deemed ta have bcen gi�co to Borr��wer or l.ender �►•hen gi�•rn as provided in this paragraph. r
<br /> `,r:.. ., .
<br />`:t�� �. 14.Governing I.Aw;5everabili��.This Sccurity Im�rum�nt�hvll bc go��ernrd by�Federul I.i�� und the law of the jurisdiciion �
<br /> �,:��. in�vhich the Property is loca�ed. In the evrnt th:►t anY prositiion a�rlause of this Srrurity Intitrument or the Note contli�t. ;
<br /> �kr�;t, uith applicable law,+uch�unfli.:t tihall not affect �nhcr rri�vi.i�m�uf this Securin�Imtrument ur ihe Notr��•hinc�un bc givrn
<br /> '�n� el'1'cct a�ithout the contlicting pro�ision.Tu �hi�cnd thc pru�i.ion+ol'thi,Sccurii�• Inslrumcnt and Ihc Note are declured to �.
<br /> �
<br /> h� sc��crablc.
<br />' ;,:`,'• 1S. Borrower'+Cop�. Horro����r ,I�ull hc Eivcn unc conl'urmcd cupy uf this ticcuri�y li�titrumvnt. '
<br /> � 16.Awgi�enmeN of Renls.&�rro��cr unrunditionall>a+,i�n,and�ran�fcr,ia l.�ndrr aU th�rentti anal rccrnu��oF the Pro�xrt}•.
<br /> • . .. .Th:� Borrower authori�es Lrnder ar l.en�i�r'�ua�nt�lu cullect thc rrou and n�•cnue+and hercby dirrc��euth�enunt ol the Pro�rty
<br /> �o pay the rents tu l.cndcr ur Lend�r'.agant�. Ho�ve��r. �riur�u (�nder'. nutirC to B��rro��•er ul' Borrw�•Ct'. brearh uf an�
<br /> , �. ,.�;• �� co�•rnant or agrecmcnt in thr 5«urity In�.irumrm. liurru��cr �hall rullcr� and re�ri�•r all r�nt,and revrnuc+of thc Pro{xrty
<br /> ac trux�er for thC bcnrl'it uf I.rnJer anJ Borrua•er. I'hi�a,�i�mncn� uf rrm. cumtitutr.an abwlutc a+,ignmeni and not un
<br /> •' :' :�.�•. assignm�nt for addilional x�urit>�unly. �
<br /> ' • If l.rndcr gi�e.naticc�,I'brearh�u 13urruarr:1.�1 all r�nl.r�c�i�rd h�•Rurr�►a�r,hall h�hrld h� Burra�vcr ati trutitcc t'ur
<br /> ' benct'it of Lrndcr unl�•. ��,nr:�r�i��d �u�i���um.•�currd hy�hr ti�ruri�� I����nuncm: Ihl l cn�kr ,hull bc rnti�lyd tu ��,Ilec�
<br /> � and r�tici�•c all uf thr rrnt.ul'thr Pro�xrt�•; :►nJ 1�1 carh irnant i�f Ihr Pruprr�y•htdl pa>all rem+ �luc:u�d unpaid to 1 cndrr
<br /> or I.cndrr'ti agcnt �,n Lrnder', ��ritt�n drnuu�d ta thr trnam.
<br /> Bi�rru���er huti nu1 crcrutcd an�• prior a�,ignmrn�ul thr rcnn and I�a,na�and���ill ni.�perlorio :m> urt�hu1��uuld prr�rnt
<br /> }: . � I cndrr 1'rum r�crci�inp it. righ�•und�r thi�p�rag�aph 16.
<br /> ' l.rnJcr�hall nw bc rcyuirrd h�rmer upan,talr�unlrul�H ur ma�nt:�in thc Proprrl> Ikt��rr or a uc� eninE nuii��ol hrrarh
<br /> � ro Burru�vcr. Hu��c�rr. I cudcr ��r a �udiciall� :�rp�,��u�d r«<�«r���.�> du,�� :u an> iimr�hrrr i� a h�.ach. \m .y,�,li�:w�m
<br /> ' af rcnl� ,hall n��t �ur�ur ��ai�e an� dcfuult or imulid:ur any atNrr riEh� ui r�mrd> al I rnJrr. 1 lu� a.•ipnn►rni .,t �rw. rl
<br /> , Ihe Pruperl>• .h+dl Icrminutc ahcn �hr drhl .�.ureJ h� �hr tic�uril> In,trumrnt i. ��a��l m tull.
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