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<br /> j�ylfblK��M��1�011�IOrCr10d(O�II 2�O�C�I�IIjO.lf10�IIiOUtlt Of f11Ch�fiyII1G111. Aqyl OKCdIt p(OOOOd�G�NOf YI , .
<br /> ,iaaow�c�reaWred oo p.y�u onawdin����s wda the No�.na a�Securitr rmawrieae�b.ti be pda a d�s.�Iq► .
<br /> {�1y ftled ttbreto.
<br /> - !. iha.L�w►der may callect fas�nd cJuir�e�wtl�orlmd by�he Sa.'roury.
<br /> .f. Groutd�tar AoalenNon at DeM.
<br /> (s)�hnM. Lettder rru�y.ezcepc�u limitod by rc�ulkfom issued by the yin thc aue of p�yrtia�t defiulu,
<br /> requiro immodl�oep�yment in fuU of�ll wnu aecurod by thi4 3ocurity InarumGn�nt�if:
<br /> (i)Bormwar defaults by failin�W p�y in full�ny manhlY pa9mcnt�equircd by thie Sxurlty Inctrua�ont prior
<br /> ° --°'�-�-� to or on�ha duo d�to of iho next momhlY PaS�n�►a'
<br /> (ii)&hmwer defaults by fiilinQ,for R perlod of�hidy day�.w parform�ny ottier obli�atiano coat�ined in thl�
<br /> Secwk}r In�trument.
<br /> (b)S�le Wltl�aut Credtt Approval. Lender ahall,if peimitted by opplkeble law md w[th�he pdor y�rov�l of the
<br /> Sxroury.requiro lmmediote payment in fbll of all the suma secuted by thie Securiry Ins�ru�aent iC
<br /> - (i)All or put of the Property�or a beneflcial inteteat in a truat ow�i�Q W a pwt of the Pimpe�ty.U wld or
<br /> _- � aherwiRe ua�uferrod(other th by davlcc or dcscent)by tho Banowe�.+�nd
<br />--- (iq 7Uo Property ic not occupied by the purchasu ar Qraruee as his ar her pincigwl residenct.or the purchaser
<br /> or grnntee does sa occuPY � �P�nY but Irs ac her c�ed'N has rat ban �ppmy�d in aaa�da000
<br /> wNh the requircments of the Secrea�r.
<br /> (e)No W�Iver. If clncumstances occerc d+xi wauld pemut Lender w rcquire immediste paymea�nai fldl.but I.ender
<br /> das notre quiro suchpxymenta,Lendettl��snot waive irs rigl�ts wit�+sospect to aubsequent avx�s., �
<br /> (d)Re4u411onr o�HUD Secretpry. In'mamy circwrwtancas reguledons issuod by the 3ecnet�y�vUl Wnit L.enderS� � '
<br /> dghts,in Ihe case ot psyment defauits,torequire immadiate pay�m t in full and foncbse)f not aAid. Thio
<br /> Securiry Instniment dues�wt autiwrize acceleration e�r'Ponclosu�if not permitted by nguluians of the Secnetary.
<br /> - - (e)11+IarRp�e Not Inaured. Homower agrees that sfiould lhia Security Incwment and 1he note s+e►ured ibereby not
<br />-- ba ellgibk for insurance wider the Nulonnl Housirig Act wlthin 8 �lo t ��
<br /> dote I�eneof.Lender may.at its option wid notwithstanding anything in Peragrar��require immediate payment in
<br />,_�;. full of all sums secunsd by this Security Inswme�N. A written sts�tement of any authoriud agent of the Secnetary
<br /> ` d�ted subsequent to 8 �pt� from the dete hereof,declining to inrure thie SeFU�ity
<br /> - Instrument and the note secured thereby,shall 6e deemed conclusive proof of such ineligibility. Notwtlhstanding
<br /> ';� the foregoing,this option may not be exercised by Lendcr when�hc unav�ilability of lnaua�anea�is solely dua to
<br />��•!"• Lenderh feilure to remit a mortgege insurance premium to the Sccretary.
<br />-.-„ lA. Reioctatemea� Bortuwer hes a r�ght w be reinstated if Lender has required irnm�diAte payment In fu41 h��cause
<br /> - � of Bomower's failu�ro pay an amount due under�he•Notc or�his Secur�ty Insuument. This d�ht applies evcn aFkr
<br />- �• ��� foreclosw�e procadings are instituted. 7b reinstate the Security Inswment. Borrower shall tender in a lump aum aU
<br /> "s� amonnts�equired to.bting Bomnwerk account currcnt including,to the extent ttiey ar�e oblisa►iona af Bomower under this
<br /> - ° —`° - Sec�ui[y Insuurteem,fo�oclosure costs and reasonable end customary anomeys'fees and expenses pru,prdy ans�x:iuta.i wiih
<br /> •� �1 the foreclosure�zoceeding. Upon rcinstatement by Borrowcr.this Security lnstnimrnt and the obligauons that it secures
<br /> `!'� , ahall rcmain in affec t xs if l.ender had not rec�uircd immcdiate payment in futl. However,Lender is not tequi�d to Re�mit
<br /> • �;�r.�:��,�;, oeins�atement if: (i) Lender I�as accepted remslatement after the commencement of foRClowre proceedings wlthm two
<br />-�• ''•;.+� years immedintely preceding th¢ commencement of a current foreclosure praceeding, (ii1 reinstatement wjll preclude
<br /> ���s'.��•,', foreclosuro on different grouads in the futurc,or(iii)reinstatement will adversely affett�he prioriry of the lien crcated by
<br /> , ; �f�.� this Seca n'ry Instrument.
<br /> '�''�`' �' !1. Borrower Not Released; ForbearAnce by l.ender Not a Wwiver. Extension of the timc of a ent or
<br />.;.' ;''c�-��,.�':•�.� P Ym
<br /> `'� `�"" , madification of amortizution af the sums secured by thi.s SecuritX In4trument granted by Lender to eny si�ccessor in interest
<br /> ''�����` '�'�•= of Bomower shall not operate to releace the liability of the original Borrower or Borrower's successor in interest. L.ender
<br /> - s!�+�'�== shall not be rnquired to commence proceedings egains�an�successor in interest or refuse to oxtend time for payment or
<br />�' '�;'"'"'''� �°.� ° othenvise madify umortization of the sums secw+ed by this Security Instrument by reasun of nny demand made by the
<br /> "' ,y��;���4: ,_ „ • original Horrower or Bormwer's successors in interest. Any forbeurnnce by L.ender in exercising any right or remedy si�all
<br /> .� ::., �.r,i:,'f„Lyw>,r.. � not be a waiver of ar prcclude the exercisc of any right or remedy.
<br />,; � , ,"�a��,1t�%iy,�-.ca�*•� 12. Succesaors and Asalgns Bound;Joint and Several Lfability;Co-Signers. 71�e covenants and agneements of
<br /> ., t;,�q�r,r:•,. � this Secudty lnstrument sha11 bind and benefit the successors and uxsigns of Lender and Borrower,subject to the provisions
<br /> u
<br />.-�'�;'' •��y+��"�'jb���F " of J'aragraph 9.b. Borrowerk cavenunts and agreements shall be joint and seveml. Any Bortower who co-signs this
<br /> .. ,,:. i�:.r� i:•;;.�:.+ .
<br /> .:•,;.r;,, j�:�,,;,:;:�: .;:..�,�,;;�;��,�.,,,_,� Securi�y )nstniment but dces nol execute the Note: (n)is cu-Rigning this Security Instrurnent only to mortgage.grant and
<br />-,:,,,;,,1 ,i;�� .�_ , convey that Harower's interes�in the Propeny under the te►ms of this Securiry Instniment;(b)is not personully oWigated to
<br />. :i�.,...� :. � pay the sums aecur�ed by this Securiry Ins�rumenr,and lc)u�rees that Lender and an�other Borcower mey agree to extend,
<br /> ��'`'� '�»'.:. '' modify.forbear or make nny nccommodations with regard ro the terms of Ihis Secunty Inswment or the Note without that
<br /> - ' Borrowerk conscnt.
<br />_�` 4:::...� _ �• 13. Notkea Any notire to Borrower provided for in this Security Instrument shnll bc given by delivering it or by
<br /> , muiling it by first claz, mail unless upplicuble law reyuires use of s�nother method, Thc naice shall be dinected to the
<br /> _*� . Prnpeny Address or Any other addresti Borrower designutes by naice to Lendrr. Any nairc to l.ender ahall be Riven by
<br /> ' first class mail to Lender; address stuted herein or uny uddrc+.Lender designutex by notice to BoROwer. Any notice
<br /> ��;,�:;, �y�`" "•';�, pm��ided for in this Security ln�trument sha11 he deemed to havc been given to Bormwer ar Lender when given ns provided
<br /> in tl�is parag rrph.
<br /> _ " 14. Governing Law; Sc�•erabillly. Thix Sccurity Ins�rument shull lx govcrned h}•Federal law and the law of the
<br /> „ jurisdiction in which the f'roperty is loca�ed. In the evem that any provision or cl:w,r of this Security Inswment or the
<br /> Note conflicts with upplicnble law,.uch ronflict sholl na affrc�aher provisions of this Security lnsirumem or�he Note
<br /> •'. •�°•• • wbich cun be given eff'ect without the conflicting provision. 'Ib ihis end the provisionx of this Security lnstrument and the
<br /> �"•,-.' ;,�4;. .�, ., Note arc declared to be severaMe.
<br /> � 15. Borrower s Copy. [�orrower shall tx Fivcn one confortned aipy of this Security Insaument.
<br /> �X.��-�•�r.• x 16. Asstgnment of Rents. Borrower uncunditionully assigns und trumfcr.to Lendcr ull thc rents and revenues of the
<br /> �. • �?,. Property. Borrower authorizes Lender or Lender c ugentx tn mllect the rentx and revenues and hereby directs each tenant of
<br /> _�:,i.:; • the Propeny �o pay the renls to Lender or l.ender i ngents. However,priar to l.ender',notice to Bonower oF Borrower�
<br /> r. �;..� breach vf any covenant or agmement in Ute Security Intitrument,B�xrc�wer sha)I collect and receive atl rents nnd revenues of
<br />-�'�i4';'.' :: the PropeAy as t�stee for the benefit of Lender and Borrower. This assignment of rents cunstitutes un nt+solute ossignment
<br /> ':�j�,{;' :�,�,.�t-,• and not an assignment for uddilionul securiry c,nly,
<br /> If l.ender sives notice of breuch to Bnrrower: (a)all rent�rcceived by Borrower sfiull be held bu 8ortower ae trustee
<br /> � - ivi uc��Eiii Gi i,cinier wiy,iv or appiieci io i�rc sums eecurea oy tne�ewrity instrument; �oi iender snaii be entitieu to
<br />-r� � �=� �- �- . coUect and receive al)of the rents of the Roperty; And(r)each�enam of the Ropeny shail pay all rents due and unpaid to
<br /> 'k''�'��'�"�:"'• L.ender or Lender's agent on l.ender's written demand tu thc tenant.
<br /> • • � � Borrower has not executed any prior assignment of the rents and has not and will not p�dorto any act thut would
<br /> - ;1.���•-�.-�.
<br /> - �:�s„, , . prevent L.ender from ezercising its rights under this Pnregrnph 16.
<br /> "'`- •'__� • Lender shell not be required to enter upon,tuke control of or muintain the Property brfore or�fter giving notice of
<br /> - ,,� breach to Borrower. Howeva,Lender or a judiciully upPointed receiver may do so at any time�here is a breach. Any
<br /> __—�'"�,-.;" applkntion of rents shall not cu�e or w�ive any default or mvalidate nny uther ri¢h°or remed�of Lender. 71�is ussignment
<br /> _ — . -:... of rents of the P�+operty shall terminate when tNe debt secured by the 5ecuri�y Instrument is pa�d in full.
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