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<br /> -� roPerrod to in pwra�raph 2. ar changa the u�uwnt�f such poymentc. Any axcess proceeds over an Amount required to pry dl
<br /> aut�taxtin�inde6todnes�uader the Note�nd thL Socurity Inwrument�Iwll ba paid ta the entity le��lly ent�lled thaeto.
<br /> _ _ �.F��t.cndc�may wllaK feea wd chae�a+�uthodzed by the Secr�atwry.
<br /> v 9.(irouud�tar Acceler�tkw�ot Debt.
<br /> --_= (�) Ikt�Wt. Lender nwy, except as Umitod by rcgulAtiona iasual by the Secrctary in thn c�e oi payment doPwlt�,
<br /> -: _ - __ -_�
<br /> rcquire inunediwe{wymant in full af�II cumg scrured by thia Secu�ity Instrument if: `
<br /> (i)Borrower defoults by fpiling ta pAy in full any nwnthly payment requirod by this Security Inatrument prior w or
<br /> — on the due date af the next monthly payment,or
<br /> __ (ii) Borrower dtfaulu by failinQ. for a periad of thirty days,to perform any othar obli�etiorw catWined in thi�
<br /> �em Secu�ity InWtument.
<br /> ---- -� (b)Sole Without Credlt Approval. Lendcr shall. if permitted by applicable law and with the prior opprovwl of the
<br /> -'`� Secretary,rcquire immediate payment in full of a!! sums secuted by this Security Instrument if:
<br /> --�� (i) All or part of the Property, or a beneficiel interest in a trust owning all or part of the Property, is sold or
<br /> ��,� otherwise tranaferrcd(other than by devise or descent)by the Barrower,end
<br /> - � (ii) The Propeny ia not occupied by the purcheaer or grantee as his or her principal residence. or tho
<br /> ;.a� purchaser or grentee does so a�rupy the ProPertY but hia or her credit has not been approved In accordatice wlth the
<br /> - -_ _ -==. requi�ement4 of ihc Sccretary. -
<br /> - �,.�� (c)No Wtdver.lf circumstances occur that would permit[.ender to require immediate payment in full. but I.ender daea
<br /> . '��'' not require such payments, Lender does not waive its rights with respact to subsequent$vents. _
<br /> ...�.�;.;_ ..
<br /> ��_--_�`.�-� . (d) Regulations ot HUD Secretary. In meny circumstances regulations issued by the Secretary will limit L.ender's
<br /> -�° rights in the case of payment defuults to require immediate payment in full and fareclose if n�t pajd. This Secu�ity
<br /> ��-- Instrument daes not authoriu acceleration or foreclosure if not permitted by regulatians of the Secretpry.
<br /> -�-��.��:r..
<br /> _ =•�^:�'� (e)Mortg�e Not Insured.Borrower ugrees thnt should this Security In�trument and the Nae secured thereby not be _
<br /> eligible for inaurance under the Nationul Hausing Act within 60 days from the date hereof,l.ender may. at its option
<br /> _ - -- �aotu;shssanding anything in paragrnpb e, require immcdiate payment in full of ell sums secured by this Securfry
<br /> ,,��.,.`���= Instrum�nt. A written s�atement of nny nuthorized agent of the Secretary dated subsequent to 60 days from the date
<br /> ==.-�y�;y�•�.., . hereof.declining to insure this Securiry Instrument and the Note secured thereby, shnll be deemed conclusive proof of
<br /> ---���` �'• auch ineli ibilit Notwithstandin the fore om this o uon mu not be cxercised by Lender when the unavailability
<br /> - .,�,.. . B Y• � 6 � S• P Y
<br />=�E •�� '`" of insurance is solely due to Lender's failure to remit a mortgage insurance premium to the Secretary.
<br />�:-��` , -.
<br />�'���%"� W'°� � 10. RelastAtement. Bormwer has n right to bc reinstatcd if Lendcr hus required immediate payment in full because of
<br /> �rec :-:
<br /> '�'=`�"'`�"`��. Borrower's fnilure to pay an amnunt due under the Nate or this Secu�ity Instrument. This �ight applies even after foreclosurc �
<br />_�`=.::.
<br /> • praceedings are institutod. To reinstate thc Security In.trument. Bc�rmwer+hull tender in a lump sum ull amounts re,quired to
<br /> +�.shoj�.'�
<br /> �� bring Borrower's account current including, ta the extent Ihey ure ubligntio�s of Borrower under this Security Instrument,
<br /> - r foreclosure costs and reasonable und customery attorneys' fees and expenses properly asu�ciuted with the foreclosure =
<br />�i'C.v�;3a�.�ir proceeding. Upon reinstntement by Born�wer,this Security In�trument und the obligatiunx thut it secures shall remain in effect
<br /> �„,,;�:�` � as if Lender had not required immediate payment in full. Howcver, Lender is not reyuired to permit reinstatement if: (i)Lender _
<br /> �=.'�` �`` hav accepted reinstatement aiter the commencement of foreclosure praccedings within two yeurs immedietely preceding the _
<br /> _-.:�"`'; :;:.�• � commencement of u current foreclosure proceecling, lii) reinstatement will preclude foreclosure on different gcounds in the
<br /> . � ��,�,; -
<br /> -�- future,or(iii)reinstatement will adversely nffect the priority of the lien created by this Security Instrument. _
<br /> _"�:�`" _ -
<br /> _- ��;;X� 11.Borrower Not Released;Forbearance By I.cnder Not a Waiver.Extension of thc lime af paymem or modificution of
<br /> '~"�"�""�""°�'`� amortization of the sums �ecured by this Security Instrument granted by l.enJer to uny succetisor in intereu of BoROwer shall
<br /> .t:.•t�'�+:.. _
<br /> �� ���:;z• not uperate to release the liability of thc original B�rmwer or &��rower's,ucresu�r in imerctit. Lender shall nc►t be required ro _
<br /> ;�Yi-Ylr,':�t+� commence proceedings ugainst nny successor in interext ar refuxe to cxtend time for payment nr otherwise modify simortization
<br /> of the sums secured by this Sccurity Instrumcnt hy reason of any dem:�nJ madc by the uriginnl Bnrrower or Bcxmwer's _
<br /> a�`�'�'� .� ° . surcesson in interest. Any forberrance by L.ender in exereising uny right or renxdy .hall nut be u waiver of or precluJc the _
<br /> ;�:� • , exercise of any right or remcdy. -
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