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<br /> °- pryment�,which ar�c roferted to in A��rnph 2,or chan�e�he umount of xuch p�yments. Any cxcesa proceedr over wn
<br /> - omountroq uirod to pay all outawndie�indebtednea�under the Note w�d thi�Securlty InRqumont nhwll be paid w Ihe endty
<br /> yenUUed thea+cto.
<br /> .��� �8. Flees� L.ender may cnllect fecs and chiuge�wulwMud by the Secrotary.
<br /> 9. Crouad��or Accekr�Naa af DeM.
<br /> - (a)DefiW� Lender moy,exccpt as Umited by regulutiona issued by the Secrctary in the caso of pxyment dofiuits.
<br /> - - - = roquire in�mediwtepayment in full of all aum�secw�ed by thia Securfty Insuument if: -
<br /> _ — (i)Borrower defuulta by f�fUng to{wy in fuli ony mon�hly payment rcyuired by Ihis Security incirument ptfor
<br /> __-_- � ics ar an the dua date of the ne�t monthly paymen�,or .
<br /> (ii)Borrower defaultr by f�ilin�,for a period of thiKy days,to perFortn aoy otJur obligations contalned in�hi�
<br /> - Security Insamnent.
<br /> --= (b)4�1e Wfthout Credit ApprovW. Lender ahall.if permitted by applicable Iww und with the prior Approval of Ihe
<br /> Socnetary,requir+e immediate payment in full of all the sums secured by this Secudty lnstniment if:
<br /> �'� (i)All or part of the Propetty,or a beneficia!intercst in a qust owning all or paR of the PropeRy.is�old or
<br /> .,��,.� otlterwise transferted(other than by devise or descent)by thc Borrower,und
<br /> _-_ -._ . ,:,� (ii)Tbe Property ic not occupicd by the purcheser or grantee as his or!►er principal residence.or the purchaser
<br /> n�� or grantee daes so accupy the Property but his or her credit has not been approved in accordance
<br /> - - � with the requirements of the Secretary. _
<br /> (c)No Waiver. If circums�ences occur that would permit I.endcr to require immediete payment in full.but l.ender
<br /> __�_��`.� daea not requirc auch payments,Lender daes not waive it��ights with respect to subsequent events.
<br /> ___________=yy�� (d)ReQulwtloar of HUD Secretory. In many clrcumstances roguletlons issued by the Secretary will limit Lender�c
<br /> rights. in the case of payment defaults. to �q uire immediate payment ia Cuii+uiJ fuir,�:lose if notpa iJ. This
<br /> _ =-- Security Instrument das not awhorize acceleratlon or foreclosure if na permitted by regulatians of the Secretary.
<br /> - :-.=_`._,� (e)MortBagc Not Insured. Borrower agrees that should ihis Security Inswmenl and the notc secural thereby not
<br /> =�'�:�(Vfi�3��a:�r� be eligible for insurance under the National Housing Act within 8 months from�he
<br /> dete hereof,l.ender may,at its option and notwithstanding anything in Paragruph 9,require immediate�mymem in
<br /> L�'�, : full of all sums secured by this Securiry lnatrumenG A written atatement of++ny aulhorized agent of the Secretury
<br /> _---'�`j-��• dated subsequent to 8 months from the datc hencof,declining to inaure this Securiry
<br /> --�°=-°-'`"`'� Insttument and the nate secured thereby.shell be deemed conclusive proaf of such ineligibility. Notwithctanding
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<br /> r�u���. ,,., ihe foregaing.this option may not be exerciscd by Lender when the unavailabllity of insutance ia solely due to
<br /> - __•_.:,..:. Lender's failuro to remit a martgage insurnnce premium to the Secretary.
<br /> -_-=��:�r�;_,� 10. Relnrtatement. Borrower has a right to be reingtnted if Lender has required immcdiute payment in full becauxe
<br /> of Borrower�s fallure to pay an amount due undcr the•Note or this Security Instrument. Thi�right applfex cvcn ufter
<br /> =---^������"�_� � fareclosure praccedings w�a insti�uted. 'tb reinawte the Security Inxtrument, Bartuwer shull tender in u lump �►um all
<br /> _- '•.•: '� amounts rcyuired to bdng Bomowerk occaunt curtent including,ta the extent thcy ure obligutians of Borrower uncler�hix
<br /> _ - ---,--� Sccurity lnsss:sment,farrzloseue co!sis end rc��+u�t►uhk und cuxwmury auomeyri feeK wxl expentiea properly axsocipted wi�h
<br /> __ �`�+�n,�:�,.s . the forecloxurc pra:ceding. Upon r+ein+tulement by Bc�rrawcr,thix Sccurily Inxtrumcnt und thc c�bligationx Ihot it r�ecurex
<br /> _,�;�� .'�;-,,r..., . Khall rcmain in effect as if l.ender hud no�reyuircd immeJiutc puymen�in full. Howevcr, Lcnder is not required topermi�
<br /> - -.�,.,L_.,�� reinstAtement if: (il Lender hux uccepted reinxtutement uftcr the commencement of 1'orecbtiure proceedingR wlthin �wo
<br /> '°; yeurx immediotely preceding the�ommencement of u cunent Porccloaure proceeding, (iil reinKtatement will preclwie
<br /> ---�9""'"'� foreclasure on different gmunds in thc future,or(iiil rcinxtatement will udver.r•ely affect the priority of the lien cres►ted by
<br /> __=._.a�,u-:..
<br /> _�:: ::L�;::�;°::' this�Security Ingtrument.
<br /> ' ' '� 11. Borrower Not (telensed; Forbearance by l.ender Not a Waiver. Extension of the timc of paymcnt or
<br /> �� � Y'� ���^-�• modification uf emortixation of the.r•ums secuned by thi.w Security Instrument granted by Lender to uny successor m intere:�t
<br /> �'4i°F'; ' �� ' n of Borrower shall not operute to relcace the liability�f'the ariginul Borrower or Born►wer�successor in interest. Lender
<br /> _ ��`�'* ehall not be required to commence proceedings ag�inst an�successor in interest or refuse to ex�end time for payment or
<br /> --_ ��"'�� otherwise modify amartization of the�ums tiecured by �hi+Securiry Instrument by reason of uny demund mnde by the
<br /> .•e
<br /> � ` original Borrower or Borrower's successnrx in interesl. Any forbearunce by Lender in exercising uny right or remedy xhall
<br /> ��^..',�:`.°.
<br /> - -- •,:.,,� �„ not 6e a waiver of or preclude the exercise of Any right or remedy.
<br /> "'"`. :et�:�2:a 12. Successora ond Assigns Bound:Joint And Several LlobHity;Co•5igners. 't'he covenants and agrecments of
<br /> _'=��-:��:;;=:; this Security Insaument shall bind und bcncfit the succcssors and assigns of Lendcr and Bonower,subject to the provisions
<br />--; � ,-.� of Paragraph 9.b. Borrower� covenants and agreements shall be joint und several. Any Borrower who co-signs �his
<br />= ���,�`;t,;Je,u,., Securlty Instrument but does not execute the Note: (a)is co-�igning this Security Instrument anly to mortgage,grunt and _
<br />:_-�-� , <. convey that Borrowerg interest in the Propeny unJer the tertns of this Security Instrument;lh)is not personnlly obligated to
<br /> -"1��.��-��.� pay the sums secured by Ihis Security Instrument;und(c)ugrees Ihnt Lender und uny ather Borrower may agree to extend,
<br /> _������, modify,forbeur or meke any accommodations with regurd to the tcrms of this Security Insuument or the Note without that
<br />==—` �� � ' Borrower�s consent.
<br />-`�''�� "�� `� '� � 13. Notices. Any notice to Borcower provided for in this Sccuriry Instrument shall be given by delivering it or by
<br /> - -`�'y���"-' muiling it by fint class muil unkss applicable law requires use of unothcr method. The nntice �hull be direc�ed to the
<br /> -°_ ��`""'��"''�S7 Property Addreas or any ather uddresr Borrower designutes by no�ice�o Lcnder. Any notice to Lender shall be given by
<br /> —� ��•� • frst class mail to Lenderl uddress stuted herein or uny addres, Lcnder designutes by nwice �o Borrower. Any notice
<br />==�� • � ° Provided for in this Securiiy In�trumcn�shnll be deemed to huvc heen given to Borrower or Lender when given ns provided
<br />_ML ° ' m this parngraph.
<br /> - t- . P � � 14. CoverninR Law; Severability. Thi,Securi�y Instrument xhull lx guvcrncd hy Federal luw smd Ihc law of the
<br /> o • . jurisdiction in which Ihe Property is lacmed. In the rvenl thut uny provision or cluuu��f this Security Instrument or the
<br /> � Note conflicts with upp licuble law, xuch contlict.hull not uffec�o�hrr provi.i�in�uf'thi� Security Instrument or the Note
<br /> � - , which can be givc;n effect wi�how the contlicting provixion. Ti�thix rnJ�hc pmvisions ol'this 5ecurity Instrument and the
<br /> , Note urc declared to be�everable.
<br /> - 15. Borrower's Cnpy. Horrower shull Ix given onc r�mfiirnxd c��py of this Security Instrument.
<br /> • � 16. Asslqnment of ttent�. Borrower unconditionully atisigm und trun.lcr.tu L�nder ull the ren�s und revenucs uf the
<br /> �. ,. Propetty. Borrawer uuthori-r.cs L��nder ur LrnJrr:a�tentti to c��llcct thc rcnt.and rcvcnuc�and hcreby dirccts euch tenum of
<br /> , • • the Property to puy 1he rents lo Lende�or Lcixlcr;a�en�x. Howcver,pric�r to Lrndcr�notice to Bormwcr of Burrower+
<br /> • • breach of any covenwN or ugreemenl in the Sccuriry In.irument.Borrower,haU collec�und rcreive uU rentx and rcvenue�of
<br /> � the Property us Irustee for Ihe henctit ol'Lcnder und 13arrawrr. Thi�us.i�nmem�d'rrnts cunstitwes un obsolutc ussignmem
<br /> "• - ` • ' und not an ussignment for udditionul+ecurity�►nly.
<br /> �� If Lender gives notice of hrcuch�o Borruwer: (ul ull rcnt+nceived by B��rn►wer�hull he Ixld hy Bon'ower us tni+tee
<br /> 1�14..,'t.�+�i�;,__� . _ F,..Ivn.F:t�.f 1 a�dPr nnlv �n Fr nnnli�d m the �umz .uured hv thc Srrurilv In.trumcnC Ib) Lcnder�hull be enlided to
<br /> . � collect nnd rcccive ull of ihe rentx of ihc Property;und(cl euch tcnum ul Ihc F'ru�rty�hull p:�y all nnts Jue und unpaid to
<br /> Lender or Lender's ugent un Lender�wrinen demand to the tcnunt.
<br /> � Borrower has not executed uny prior ussignment of thc rent. unJ hs�.mn anJ will mn pertortn uny uct thut wnuld
<br /> ' ` ' prevent Lender t'rom excrcisin�iis righls under this Parugruph I h.
<br /> � ` • Lender shall not bc reqwred to cnter upon,take control uf i►r muintuin the Proprny hefare or ufter biving noticc uf
<br /> • bren�h to Borrower. However,Lender or a judiciully upQuintcJ rcceiver muy do su ul uny time there i+a breach. Any
<br /> ' " applicution of rentti shall not cum or waivc nny dcfuult ur mvulidutc any othcr righl ur nmcdy of Lrndcr. 'I'his us�ignmrnt
<br /> �- of rents of the Properly shall Ierminate when the debt+ecurcd by thc Sccuriry In,trument i~paid in full.
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