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<br /> � � In,nudlc�itofpaymc it inQfiill of i+ll eum��sc�ic d�hy I�hie��ccurity In.wirun c u IP:�y fn�Iw ca�c of pnymcnt dc�nulis, rcquirc =
<br /> • (1)Dorrowcr dafauUs by failln�tu Nny In(tiil nny m�nthly paymc�lt rcc�ulrc�1 by ihls S�curi�y Imt�umcnl prlot lu ur o�i _
<br /> tho c�uo dala oi thc nexl manihly pnymcut, or _
<br /> ... . (iq F�orrawer dePAUUe t►y failing, for u perlod ai thirty daya,to pe�to►m Any othcr nbllgntions eomaVncd in thle Seci�rfty -
<br /> In���ument. �--
<br /> _ - ______: _� (b)Sab WIlhout CrcdN App�nval,l.cndcr ehali,it{�tnilttcxl by applirabla law and�vith th:prlur appmval�,f�h�S�v�rcwry,rcqui�c l
<br /> -- imrts�:fiaia C..�syr�.ns ia tLU at a!! �hc s�1m�s«wai Ly�►�s:.-vrtc�•tn:tn�::,r. tr: L.—_____ __.__.�
<br /> Q1 All c�r part of thc Pcupcny I.r othcnvisu trnn9fcmal(uthcr than by dcvisc or dcs•caq b thc R�,rruwcr, imd
<br /> c �'
<br /> � (11)'1'ho Pmpctty is nul�xcupicd by thc punhs+scr or qt�ntca a�his on c�r prinwry •�''�� G rciidcn��e,ur�hc purcharcr or
<br /> gmnte.o doey su accupy tha Pmperly bu1 hi�on c�r crc+fil ha.v tx�t been uppn�vM in�xcorcLvxe with c nqulnme�t.r ul�hu�ecrcuvy.
<br /> lc)No Wrlver.lf clrcumstanceq occur that would petmit I.ender to requite imme�llote pnyment in hAl,but l.ciidat daos not
<br /> require oucti puymenta,Lcndc�docs nat wolve ite righta with respect ta aubscquent evcnts.
<br /> (d)Regul�tlons at HUA Secrct�ry, in many circumstunces regulntians iacucd by the Secretary��ill limit Lenda�'s�ight.r,in
<br /> tho caso of peyment defnuite,to requiro Immedinto payment in fuil und foreclose if nat paid.l'his 5ecurity Instruntent docs
<br /> not authorize uccciceuUon ar farccla�ura If n��t permlucd by rcguladans af Ihc Sccrctary.
<br /> 10. Re�nstetement. Borrowr�has a right to bc rcinstated if Lcndcr hus rcquircd immcdintc paYment in full bccnuse of
<br /> Horrower'e fallurc ta puy nn omount duc undcr thc Notc or this Sccurity Instrumcnt.This right npplics cven iiftcr foreclosurc I
<br /> proccedinge t►re instilutcd,To rolnstate the Security Inst�ument, Horrawer shall tender in a lump aum nll«maunts rcquired to f
<br /> bring aartawCr's accaunt curocnt inciuding.ta ihe extent they aro obUgations of 8arrower under �his Security Insuument. I
<br /> foreclosure costs nnd rensonable nnd customnry �ttarney's fces nnd expenses properly nssaciated with the foreclnsure
<br /> praceeding,Upon reinstatement bv Oor�ower,thi�Secu�ity Instrument nnd the abllsaUans thnt It securee shnll remain In effect as I ;
<br /> if 4cade�had not rcquircd Ima�ccii�tc payment in full.Ho��•evcr,Lendcr is not requircd ta permlt rcinstatcmcnt if:(i)Lcndcr hn� � .
<br /> ncccptcd reinstatemcnt afte� che cummencement of foreclosurc proceedings wfthln ava ycars immedintcly prccedinu thc ;
<br /> commencement of a current frreclosure prrceedln�, (ii)reinst�tement wiil preclude Pareclusure an difl'erem A�ounds in the
<br /> �;;�' Puture,ot(Ui)relnstntemen��vili a�ivcrscly affe�t the prio�ity oP thc Uen creatcd by thls Sccudty Instrumcnt. �
<br /> � 11. Burrow�e Nat Rctcased: lusbearance Uy l.enue� Not a Walve►. Gxtension of thc tlmc of paYment or madific:ttion oi'
<br /> amortluulon of thc sums secured by�this 5ec►�rity Instrumem grnnted hy Lender to anv successor in intcrest ot Uorra�ver sh�ll not ;
<br /> operate ta�eleasa tho UnblNty af the a�iginnl Etotra�ver or Oorrower's successor in lnterest. Lender ahall nat be rcquired ta �
<br /> cammeaca p�oceedings agnlnst any successor in inte�est or refuso to exte�d time for payment or othenvisc madify nmc�rtiziulan
<br /> of tha sums securcd by tMv Securiry Iflstruuienl by rensun oP any demand madc by the o�iginal }3orrowcr or florrmvc�'s .
<br /> successors in Intercat. Any Porbcarunce by l.ender in exenisinc nny righl or remedy shu►1 nat be a �vaiver of ar preclude the ,
<br /> exercise of any �ight ar remec�y. ; •.
<br /> 12.Sueeesaon snd Asslgnv 8ouadt Jolnt nnd Several LlaDilltyt Co•51gae�s. 'The coveuants�md ugreement,af this Security ;
<br /> - lss�lLlti�Cilt shP.!!blrii!Qtt�hSt?P�!the successetc and assiR�ts of 1.OndC1'and Borrawer,subject ta the pravisions of paragraph 9.b. ;
<br /> 8orrower's covenants nnd ngreements shait he join[and several,Any 8orro�ref�vha Co-signs this Sc�unty instrumcm but daes _ - ---
<br /> not exeeute the Nau:(a)is co•signing this 5ecurit� Instrument only to maitgnge,g�unt and convey that Hrrcawer's interest in
<br /> tha Praperty under the terms of this Security Instrument;(bl is not personally obUgoted to pay the sum+secured by�his Securiry
<br /> `__ _ �•,s�„m�rt; nn�1 (c� nerees iha� Lendcr and anv ��ehcr APT/O�YCI' mny ag�cc ta extend, modify, fnrbenr ar mukc �ny
<br /> accamm�datlona�vith rcgarc! to thc tcrm vf thi�Security instrumcnt or the Natc wlttlaut thnt dorrowc��9 oonneni.
<br /> 13.NoNeea.Any notice ta 8urrower pro�i:icd fu�in this Security lnstrument shall be given by delivering it ur by matUng it bY
<br /> fi�st class mall�mlcsv nppUcable Inw rcquire�we��f'cmothcr mcthad.Thc notice shull be dirccted to thc Prope�tY Addresv or any ,
<br /> ather nddres9 Horrower designatcs 6y noti�e�o Len�icr,Any naticc►o Lendc�shall be glven by first class mi+11 to I.cndcr's i�ddress
<br /> stated herel�or any add�e�s L.ender dCSi�nntc9 by naucc to Borrmvcr.Any naticc proaided far in this Securiry In�t�umcnt sh�ll
<br /> . bo deamed to have bcen givcn to Horro�vc� or Lcndcr when gi�•en as provided in this ps�ragraph.
<br /> 14.Govcrnl�p Law;SeverabQlly.This Sccurit}•Instrumcnt shall Uc Rovcrned by l�cderal law and thc luw uf thc jurisdictian in
<br /> . which tho Property is located. In the event tha�an�provision or cluuse ef this Security lostrument or ihe yute cunflicts with ap•
<br /> plicnble law,such ronflict shall not nffect other pro��sions of this Security Insirument ur the Note��hich can be given efPect
<br /> without the mnilicH�g pro��ision. Ta tMs encl�he pratiisions of this Secuniy Instrument �nd the Note arc dcclarcd �o be
<br /> severabla
<br /> 1S,BoRawer's Copy. 8orro��er shall be 8i��en une conformcd copy af this Sccurity Instrument.
<br />: lb.As.glgament af Re�Gy.Borr.nver u�irond�ti.mally nssigns nnc:transfcrs to l.ender all Ihc rcnis and revcnucs of ehc Pfoperty.
<br /> Bor�awer autharizes Lender or Lender's agems io collect ihe rents and re�enues and hereby direc�s each tenant oi'ihe Property
<br /> to pay the rents to Lender or 1 ender's a�;enss.Howe�•er,prior ta l.ender's notice to Harrawer ni Aor�rnrer'+brench of any cuve•
<br /> i�1nt or ugreement in the Sec�+rity Anvuument,Horro��•er�Aed!coUect and reccive nU rents and revenues oP thc Properly as truslee
<br /> for the bcnefit af l.cnder and Borrower.Yhis assignme�2���s�rems canstitutes an absolutc assignmcn�nnd nm an assignmcnt for
<br />� additional sccurity anl>•.
<br /> IP Lender givcs natice of brrach�o Huin���cr:Ia1�II rcmc rcceived hy Aarro�ver shall be hrld by Barrowcr as trustec Pot benefit
<br /> af Lender unly,to be applied to the sums sc�ureJ by Ihc Scr�uity Instrumcnt:(bl I.cnder shall be entiticd to roUe�t and reccive all
<br /> of the rcnts of the Property;anA(c)cach tcnant nf'Ihc FrrpcTZy shall pay�U rent�duc aad unpa+d to Lcn��r or L�c�d.^r's agent
<br /> on l.ender's wriucn dcmand ►o che tenant.
<br /> = Aarrowe�has not executc�f am• prior as�ignmcnt of thr �enc>and has not and will n�t �xriorrn any a�i that would prcvent
<br /> _ • Lendcr from excrcising its rigM�undcr this paragraph 16.
<br /> l.cnder shnll nnt be required tc�enter up.�n,cake rantrol ui��r maimain t hc PropertY hcli�rc ar af�er gi.inp notice oP hreach ea
<br /> -; Rarrower. Hmvever, �.endet or u judirially :st+pointed rncci�cr ntay d��.�•ac c�r,y ii:r.e th.^tr i•.a hrearh.:�^+a„^I!_•a!ion of ren!�
<br /> shall not cure or waivc any dcfauh ur im•alidate any other right or remedy uf Lcnder. Thi�astii�;nmcnt c�i rents of the Property
<br /> : shall tcrminatc whcn ihc Jebt sccurcd hy thc 5ccuriiy Instrumcnt is paid in full.
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