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<br /> 93.
<br /> t paya�onq. which uo nefenod w in Panigr�ph 2,or ch�n�e the amouet of wch p�yments. My excx�prc�ceedr over�n
<br /> aRwunt�eq uirod w pny�A aivaquwlinQ inde6�e�eu wK1et 1he Nate�rd�hi�Secwity In��iall be pdd w dN aadty
<br /> ,epu enti'�tiea eherew.
<br /> . � 1�. l.endar msy caQect feei aad clu�os aulhoriud by 1ho Seaewy.
<br /> 9. (iroands tae Aa�kr�No�o�Debl.
<br /> (�)De��ult. I.endar may�axcept ae Wnited by n�gW�tlons luwed i�y�e 3ocecl�ry in the ca�e of p�yme�t defsulu,
<br /> tequira Utunediate pnyment in tWl of dl�urtu sec�uad by thi�Security�nurumcnt ff:
<br /> (i)Bortower defiiulta by fdling w p►y in faU�ny manthlY p�ytnent requirod by tbi�Securlty Iruawn�t pdar
<br /> __ �.-� to a on tha due date of the next mon�hlY WYment�or
<br /> (ii)Bonower def+iult�by fiillnQ�for�period of tlJ�ty dayr�w pert'orm any other obli�ulana ca�uined in this
<br /> Securlty Insaumen�
<br /> (b)3a{e WfWout Credit Approval. Laider rh�ll,if permittod by applicabla ixw and with 1he prior approv�l of the
<br /> ge�e�y.tequine imn�odiwte psymait iri full of nll ihe wms�ecurcd by thie Security Ieutrutnent if:
<br /> (i)All or pa�t of the Property.or a beneticial interost in a aunt owning all ar pa�t of�he Pnuperty.i�wld or
<br /> otherwl�o uanafernd(other than by dovlse or descent)by�he Bor�woG and
<br /> " (il)Tha Property is not occupied by the piu�chaser or gnntee as hie ar har principal res(dence,or ihe purchaser
<br /> ' or grantea does so occupy the Property but hie or her emdit has not ban Approved in accaidance
<br /> wljth the requieiements of the Secrctary.
<br /> �T (e)No Waiver. If ci�+cumstanoea occur thut would pemtit Lender to Rquirc lmmediato payment in full,but Lender
<br /> does not reyuin suchpaymenta,L.ea�dor does not weivo its rights with reapect w subsequent events.
<br /> — (d)ReQulniow ot HUD Secr�fary 1n many clrcums�ances rcgulations iasued by the Secrotary will dmit L.ender'k
<br /> �- d�hts. in tbe case of payment defaulte, to roc�uirc immediate payment in full and foreclose i�not d. 71iis
<br /> —, Security Instrument does not authodu accelerat�on or foreclosu�e if not pem►itted by r�egulAdana of the
<br /> -- (e)Mortg,��Not Ineu�al. Barower agreen that ahould this Security Inawment end the notc secund thorcby n�t _
<br /> � be eligible for insurance under the National Housing Act withln 8 1p0At}� ftOM�
<br /> date hereof,Lender may.at its option and nawithstanding any�hing ln F'amgraph 9,require immediate payment in
<br /> tull of all suma secured by this Security Instniment. A written statement of any authodze�l agent of�he Secretary
<br /> ,:�;, �!?�`, dated aubsequent to 8 mopths from the date hereof.declining to insuro this Security
<br /> �` Inslrument und the nate secu�+ed theroby.ahall be dcemed conclusive praof of such ineligibility. Notwithstending
<br />-y ,� the fo�gaing,Ihis option may not bc axercieed by Lender when the unavailability of inaur�nce is solely duc to
<br /> l.ender�s failure to remit a mortgsge insurance pr+emium to the Secretary.
<br /> 10. Retnatptemen� Borrower hes a dght to 6e reinstated if Lender has r+equired immediate payment in full because
<br /> of Borrower's failure to pay an amount due under�he•Note or thiR Security InstrumeM. 7'his�ight applies even after
<br /> fonclosure proceedings are inatituted. 'Ib reinstate 1he Securlry Instrument. Bo�rawer shall tender in a lump surn all
<br /> � amounta roquired to bdng Borrower�account curnent including,to tha extent they are obligations of Borrow�r under this
<br /> - -_ --— Sect�rity Mslrument,'forer����r..r�x1a flnci reacanable end cuswmaiv attomeys'fees and expenses�roperly associtted with
<br /> ' tho fonclosure proceeding. Upon reinstatament by Borrower,this Secu�ity Instrument arid the obligadons that k sxutes
<br /> • , '„3 i�;�'� shall rcmain in effect as if Lender had notrequired immediutc payment in full. However,Lender ia not required topermit
<br /> �•"=: �.:.'"� neinsiatement if: (i) l.ender has accepted rcinstatemant after the commencement of toreclosure proceedings witlifn two
<br /> ' ~ � ��• � years immediately preceding Ihe commencement of a current foreclosut+e proceeding, (ii) reinatatement will preclude
<br /> `' �• �"•'u'``"`A��•.�- forecloaure on differenl grounds in the futurc,or(iii)reinstutement will adversely affect the priodty of the lien crcated by
<br /> w;>�� . �.•4:... _,.:�. thisSecurit instrument.
<br /> c,� '::�'►'!�;,�: �,.:= Y
<br /> `" �zs'•' '•�+?�:'r?'{i� 1l. Borrower Not Relepsed: Ferbearance b Lender Not a Waiver. Balenaion of the tlme of payrnant or
<br /> �, €^.�-`'• ' ,
<br /> ;fi}`u;•s�r':•�,°•�r�,.�:' modificotion of amatizution of the suma secured by�h a 5ecurity Instrument granted by l.ender to any successor in intere�t
<br /> „r;:'_,;;::;�.;,�� of Bormwer shell not operate to relesse the liubility of the originul Borrower or Borrowerk successor in interest. Lendar
<br />-, .��t�y� ; s6u11 not be rec�uired to commence procee.dings against any successor in interest or rePuse to eatend tfine for payment or --
<br /> ��Si .���.�,,m.�...;...�jf otherwfse mod�fy amortize�ion of the sumR secured by �hiti Securiry instrument by mason of any demnnd mede by the =
<br /> original Borrower or Borrower's successars in interest. Any forbearunce by Lender in exercixing eny right or remedy shall
<br /> '�" �`���^'-^�.. `��• not be a waiver of or preclude the exerci+e of any right or remed . -
<br />. � _
<br /> � • `:+��'r��:,;,���ti:;; 1Z. Suecessors and Assigna 8ound;Jo1nt and Sercrraf iobifity; Ca-Signere. The covennnts and agreemente of
<br /> '�_• ,y;,,�,.,;n;,,.,,'_.:..�,, this Security Inatrument shall bind and bene6t[he successon und ussigns of L.ender and Borrower,subject to thc provisions
<br /> :. ,:,,,;�,;;,,�;.,�, ;,.. Qf Paragraph 9.b. Barowerls covenarNs ond agrecmems tihall be joim �nJ ,everal. Any Borrower who co-signs Qifb
<br /> - f,... . Securiry Instrument but daes not execu�e �he Note: (u) is ca•signing this Security Instrument only ta martgage.grmt and
<br /> convey thut Bonowerk interest in the Propeny under the terms of this Security Instrument;(b)is not personally obligated to
<br /> `�•"'� ' � pay tha eums secured by this Security Instrumen4 and(c)a�rees thw Lendcr And nn�other Bnrrower may agRe to extend.
<br /> ""��`"�' madify,forbear or ms�ke any s�ccommodations with regard to Ihe termc of this Secunty Inrtrument or the Nate wi�hout that
<br /> �"' „ Borrowerk contient. -
<br /> o,_,;, ,. ,� � 13. Noticea Any�wtice to Borrower provided for in Ihis Security Instrument shull be given by delivering i�or by -.
<br /> �.• ..„ mailing it by firat rla.ss mnil unless upplicable law reyuireti usc of unothcr method. Thc naicc shall be dinected tn the
<br /> _ , � . Property Address or any other address Borrower designate� by notice to Lender. Any notice to Lender shall be given by --
<br /> - � firsl class mnil to Lender's uddress swted hercin or any uddress Lender designwes by notice to Borrower. Any nauce
<br />:_.. ;;
<br />:_`-, �;•; ';•t M;��;,,�:'. �,, . provided for in this Securi�y Instrument shull be deemeJ ta huve bcen givcn to Hixrower or Lendcr when given as provided _
<br /> K:,' '�. :.t', .• in this paragraph. �
<br /> r�� �,.: � ;., :,; 14. Governing Low;Severabqity. This Sccuriry Inr:trumen� sholl hc gavemed by Federol luw wtd�he low of the -
<br /> " urisdic�ion in which the Propeny is locctted. In the event thm any provixion ar cl�uxe of this Securiry Instrument or the -
<br /> .'�.• ; . �ote conflicts with applicuble luw, xuch contlict rhull not affect othcr provizionx of Ihis Security Instrumem ar tha Note
<br />- ,: • which can be giveu effect without the conflicting provision. Tu this rnd the provi.riam of�hi�c Securiry Instrument and the
<br />,. Note are declared to be severuble.
<br /> _ � �• . _ � 15. 8orrower's Copy. Borrower shull bt given one conformrd copy of thiti Security Intitniment.
<br /> 16. Assignment of Rents. Borrowcr uncondition:illy ussign+und irunsfers Io Lender ull�he r�nts und revcnuex of�he `
<br />�: ' Property. Bonower authuriaes l.endcr�x Lenderti agents w collect thc rents and rcvenucs and hereby directs each t�nam of °
<br /> . •�:
<br /> ;•.;�! :� - thc Property to pny the rents to Lcnder or Lendcrk agcoth. However,prior�o Lender'.s notice to Borrower of Bo�mwer's
<br /> =`� , r' •:. :� bneach of eny covennnt or ogreement in the Serurity Imwmem,Borrow•er shall collert and receive�II rents and revenues of
<br /> "'��'�� ' .�a''�:• . � the Properry as trustee fbr the benefit of Lcnder and Borrower. This assignment of rents constitutes nn absolute s�ssignment "'
<br />-'��:,���' •-•'"��' '_� and not an nssignmcnt far ndditianal�ecuriry only.
<br />-;;. • ' If Lender gives notice of breach to Bomower: lal all rem.r•received by Borrower shull be held by Bomower as trustee
<br /> - for benefit of lxnder mlv_to be onnlied w�he sums�:ecured bv the Secuntv Inswmenr. (b1 Lcndcr shnll be entitled to =
<br />- _'i,��• ';,,°� =, collect and receive all uf ihe rent�of the Propeny;�nd(c)each tenant of the 1'roperty shull puy nll renta duc and unpnid te
<br /> -= :.w ::.:,�;' .. L.ender or Lender�agent on Lender�c wriaen demund to the tenant.
<br /> � • Bo�rower has not executed any prior ussignment of the rents und has not ond will not pedortn any act that would .
<br /> � '• . � ' '` prevent l.ender from exercisin$its rights under this Hwgraph 16.
<br /> � '"'°hi`:'.� I.ender shnll not be wred to enter u n take control of or maintein the Pro n Mfore or after rv�n naice of
<br /> .�•,��. ��.. . req po . pe Y B � �
<br /> bm.ach to Bornnwer. However,Lender or a judiciully ap�win�ed receiver muy do+o ut any time there i�a breacM. My
<br /> �`°'�-�+� applicalion of rents shall not cure or walve any deEuul�or mvnlidate,u�y ocher right ur remedy of Lendcr. 7'his ussignment
<br /> +��� � •��• of renta of the vhell terminate whrn the debt securcd b the Securit Instmmen�is aid in full.
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