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<br /> '�� rcicrrod to in pntiQraph 2. or chanQe the wnount of such payments. Any exceas proceada ovcr an amount roquirod to p�y �I
<br /> .---_= oWaWndinQ indebtednerc utde�tho Note end thiv Secutity Instrument shpll be paid to the entity le�ally ent�ded thereto. '
<br /> - '�:;:;�� �.Fiw.Lender nwy callxt fow and chwrRer Authorixod by d�e Socrctary. ..� - --
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<br /> = `� � � 4.Grouad�for Acideratloa ot Debt�
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<br /> , �o)DefAUlt. l.ender mAy, except es iimital by regululiuna i+�ucxl Ly tl�e Sec�-rtary in the c,�c of payment def tc. _-
<br /> � require immaliute ps►yme�t in iull af ull sums secured by thiA Secur�ty lnstrument if:
<br /> __,:__� (i)Harrower defuults by failing ta puy in full uny monthly payment rcquired by this Security Instrument prior w or
<br /> __ -- on th�duc date of the next monthly payment.ar
<br /> - - pi) Borrower defaultx by failin�, far a period of thirty days, to perFarm any other obligations contained in �his
<br /> -- Sccurity Instrument.
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<br /> �.::�;: (b)S�le Wllhout Credlt Approval. L.ende�shall, if permitted by applicnble law and wlth the prior appmv�l of�he
<br /> �.,�,�� � Secretery,require immediate puyment in Pull uP all sums secure�by this Secu�ity Instrument if:
<br /> ' (i) Ati or psut of the Property, or a beneficiul interest in a trust owning alt oe pnrt af the Property. is sold or
<br /> ___"'�--�:1� otherwise transfened(other thon �y devise or descent)by the Borrower,and
<br /> --,---�="'��� (ii) The Property ia not occupied by the purchaser or grantee as hia ar her principal resideRCe. or the =
<br /> _i_ _ -� -•��:� . purcheser or grantee daes so accupy the Propeny but his or her credit hes not been approved in exordance with the `
<br /> -�-F"°"��-� requirements of the Secretary.
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<br /> = `'- ' (c)No Waiver.If circumstances occur thAt would permit L.ender to require immedinte puyment in full,but Lender daes
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<br /> - r.,,_�-��� � not require such payments,l.ender does nat waive its rights with respect t�subsequent events.
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<br /> - -�I�ti_. . . (d)[te�ulAtbns oi'HUD Secretary. In muny circumstances regulatians issued by tha Secretary will limit Lender's
<br /> _=_'}',,;��• ' rights in the case of payment defoults ro require immediute ps�yment in full s►nd foreclase if not paid. This Security v,_
<br /> -- -- �"'``�`-�' instrument does not authorize acceleration ar foreclosure if not permitted by regulationc af the Secretary.
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<br /> - •d�_;.t#�:: (e)MartgaQe Not Insured. 8orrower ugrees that should this Security Inxtrument und the Note secured thereby not be
<br /> --�-�n �•:..rs.:�;,;�„ eligible for insurance under the National Houging Act within 60 days fmm the date hereof, L.ender may. At its option
<br /> ,,y�� ``��►�� A� �— ' ;��I and notwithstnnding nnything in parogrnph 9, require immediate paymen� in full of all sums secured by th�s Secunty __�
<br /> -�-�: i ' � � Inxlrument. A written statement oF�ny uuthorized agent of thc Secretury dated aubsequent to 60 days Prom the date
<br /> �� Y „ .;, , hereof,deelining to insure this Security Instrument �nd the Note secured thereby, shall be deemed conclusive proof ot
<br /> ��.t,;��;ti � � such ineligibility. Notwithsts��xling the foreg��ing,this aptian may ni�t be exercised by Lender when the unavailability
<br /> of insurance is solely due to l.ender's failure to remit a mortgage insurance premium to the Secretary. �
<br /> � ' �,.+G�,..";:{ �� 10. Reinstatement. Burrower hac a right w lx reinstatecl if lxnder hati required immediutc puyment in full beeause of -
<br />, ,A�,, . � Borrower's fuilure to pay an umount due under the N�►tc or thix Security Instrumcni. This righ� upplies cvcn uAer fiireclosure irrt��
<br /> � ,�.� � pmceedings nre instituted. To reinstate the Security Ins�rument, &>rrower shall tenJer in a lump sum ull umounts required to
<br /> bring Bortower's uccount current including, t�� thr extent they ure ubligvtions �if Borrower under this Securiry Instrument, -
<br /> �°' ° foreclosure coxtti und reasonable and customary uttorneys fees unJ expcnxs pr�iperly usxociuted with the foreclosure - -
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<br /> " , �' � proceeding.Upnn reinstatement by�Born�wer, this Security Instrununt und the uhliguti��ns that it kcures shull remnin in effect -
<br /> ' us if L.ender huJ not uired immediate a ment in I'ull. Huwevcr, I.ender is nut re uire�i to rmit reinstatement if:1 i)I.ender c=��.`
<br /> _'",�i.;, �4 P'Y 4 Pe h r;r.
<br /> • °v:� � � hus uccepted reinstatement after the commencement of I'oreclo.rure pnxeedings wi�hin two years immediately preceding the
<br /> . ,: � commencement of a current firreclosure pri�cecxiing, (ii) r�intitntement will prcclude f'orcrlosure on different grounds in the �
<br /> � � � �. future,or(iii)reinstutement will adverxely uffect�he priority uf'the lien cmuted by this Security Instrument.
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<br /> " � 4 N� 11. Borrower Nnt Released:�orbearance By Lender Not a Weiver. Extensiun of the time of puyment or maiitication of " �
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<br /> • , "~ � . amortirution nf the sums sewred by this Securiry Instrunxnt granted by Lcnder t��any+uccessor in interest of Borrower shall _ _
<br /> - ,;ti: . . nnt operate to rclease the liability of the originul &xrower or eorrower's succe.�or in interest. LenJer shall nat be required to .
<br /> "7 commence prcxeedings againrt uny succesWir in interest ur refux tu extend iimc ti►r paymrnt��r�nhenvise mafify amortization •
<br /> � of the sums secureJ by this Security histrumcnt by reu.�in af uny dem�nJ made by the originul Borrower or Bonower's
<br /> ' „ successon in intercst. Any fi�rbcurunce by l.endcr in exrrcising any right ��r rcnuJy �hall niu fx:a waiver of or preclude the �
<br /> ' excrcisr of any right or remedy.
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