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<br /> � pnyment�, which iue n:ferred to in P.iag+aph 2,or changt ihe arsiouet of auch�saysteata. My exc��tiiJi#an
<br /> �.. amou�trcq uired w pay all outatonding indebtednes�under the Note uid thia Secw'ity In+dument slWl be paid to 1ho antity
<br /> -,L�� k��lly entided tht�to.
<br /> - - 8. Flet�. Leeder may coUect feee and cherBes Authoriaal hy the Secretory.
<br /> A. (iround�tor Aceekratlon ot Deb�
<br /> --"�-�--..---� (a)De�iul� Lender mAy,except As limited by reguladons issued by the Secretary in the case of payment defaulta,
<br /> — __ requim immediate peyment in full of all sums cecuned by this Secudty Insuument if:
<br /> (i)Borrower defauits by failing to pay in full any monthly payment�equired by this Security Inswment prior
<br /> to or on the due dete of the neat monthly paymcnt,or
<br /> • (ii)Bormwer deftwlw by failin�,for a penad of thirty days,to perfom�AnY other obligations conteined in this
<br /> ----"� Security Instrument.
<br /> (b)3ole Wfthout CrMil Approval. Lender ahell,if pertnitted by applicable Isw and with the prior opproval of the
<br /> -�"� 3ecnetary.requit+e immediate payment i�full of all�he suma secured by thia Security Insuument if:
<br /> �aT"���•�� (i)All ar part of the Property,or a beneficial intercst in a trust owning sll or pnrt of Ihe PropeRy,is sold or
<br /> --- °_=,�:_,��'a otherwlse transferred(other than by devise or descent)by tha Borrower.and
<br /> —.-=.�s+;� (ii)The Property is not occupied by the purcheser or grantee as his or her principal reaidence.or the purchaser
<br /> ___-�,T•--- or grantee does so occupy the Properry but his or her credit has not been approved in aocordance
<br /> ���:',-. with the requiremenis of the Secretary.
<br /> ----=_-=-- (e)No Wa(ver. If circumstances occur that would permit I.ender to require immediete payment in full,but Lender
<br /> -_ --? ' dces not require such payments.Lender dces not waive its rights with respect ro subsequcnt evenls.
<br /> _ __�__ ____ _ _���,. (d)Re�ulotiona ot HUD Secretary. In many circumstances regulationa lssued by the Secrcts�y will limit Lender's
<br /> .J`.���,. dghts, in the case of payment defaults, to n.c�uire immediate payment in full end forcclose if notpaid. This
<br /> ---- Security Instrument dces not authorize scceleranon or foreclosure if nat permitted by regulations of the Secretary.
<br /> -�_�� .��• � (e)Mortgage Not Insured. Borrower agrees that should this Security Insaument and the note secured�hereby not
<br /> �'�k -�.'r;'• l�f' 6e eligible f�r insuranca under the National Housing Act within 8 mont hs from the
<br /> :.'�=��� �� """'"`�"'� date hereof,I.ender may,at ita option and notwithslanding enything in Paragraph 4,requirc immediate payment in
<br /> -- " �f ,�� full of ull sums:�ecured by this Secudty Inshument. �1 written stotement of nny authorized agent af the Secretary
<br /> ��'�� ` �' deted subsequent to B mont hs from the date hereof,declining to inaure this Securiry
<br /> .. �' aik,� • Instrument and the note secured Ihereby,shall be deemed conclusive praof of such ineligibility. Notwithstanding
<br />.�',�,:-., •�, the foregoing,this option may nw be exercised by Lender whcn the unavallability of insurance is solely due to
<br /> �+�' �'�-' .• • Lender's failure to remit u mortgage insurance premium to the Secmtary.
<br /> ^ � ,� " ~;� 10. Relnatatemen� Borrower hax a right to be rei�stated if Lender has required immediate payment in full because
<br /> '���-_�_ `�+±�•a:�:h�. nf pormwerh failure to pay en amount due under the•Note or this Secu�lty Instrument. This nght applies even after
<br /> � ' • �="'�'"`�` foreclosure raceedin s ar�e instituted. 7b rcinstate thc Security Instnament, Horrower shail tender in a iump sum uli
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<br /> � �,,:. amoun�a required to bnng Borrower�account current including,to the extent�hey are obligations of Borrower under this
<br /> •�• '�����--���� ' Securiry Insqument,foreclosure cos4q and reasonable and customary attorneys'fees und expenses properly assaciated with
<br /> ' � ,;,;f'r� . the foreciosure praceeding. Upon reinstatement by Borrower,this 5ecurity InAtrument and tt►e obligations thut it secures
<br /> �,, � • __ ,;:. , ahell remain in effect ax if I.endcr hed not re9uired immediste payment in full. However,Lender is not required topermit
<br /> •� �.. .., reinstatement ifl (i) Lender ha�accepted remstatement after the commencement of f'areclosure proceedings wlthin two
<br /> years immediately preceding the cammencement of n current foreclosure proceeding, (ii) reins�atement will preclude
<br /> foreclosure on different grounds in the futurc,or(iii)reinstutement will adversely affect the pdority of the lien creuted by
<br /> •'� �� ���<"� this Security Instrument.
<br /> �^`� a. _ :,. 11. Borrower Not Released; F'orbearance bx I.ender Not a Waiver. Extension of the time of payment or
<br /> ,; •.:.•� madifieation of amonization of Ihe gums secured by th�s Security Instrument g�anted by Lender to any succes4or in interest
<br /> � •j '""�� a^'``i° of Borrower shall not operate to relea�e the liebility of the original Borrower or Borcower's successor m interest. Lender
<br /> ••� "' shall not berequired to commence proceedings ngamst any succe.xor in interest or refuse to extend time for payment or
<br /> ,'',`;��(._;{;;w�,,':��' . otherwfse modify amortization of the sums secured by �his Securiry Instrument by reason of any demand made by the
<br /> • .;:';�� ' � . original Borrnwer or 8orrower's•tiuccesROrs in intere�t. Any furMeurance hy Lender in exercising nny right or remedy shall
<br /> � �. . -.�• „•,�;..�. , not be a wuiver of or preclude the exercise of any rigbt or remedy.
<br /> 12. Succes.sors And ARSlgn9 Bound; Joint and Several Liability:Co•Slgners. The covenants and ugreements of
<br /> �;;;,;, this Security Instrument shall bind and bene�t the successorti und n�signs af'Lender und Borrower,subject to the pravisions
<br /> •• 1�a . �'" of Paragruph 9.b. Borrower's covenant� and agreemenlx shull be joint und ,everal. Any Bunower who co-signs thix
<br /> . ' -�..+,•'� ."`. Security Instrument but dces not execute the Note: (n)is co-si�ning this Security Instrument onty to mortgage,grant and
<br /> •• . . t ,�.„,,:, convey that Borrowerk intcre+t in the Pmpcny undcr thc terms of this Security Instrument(b)is na pe�onally obligated to
<br /> �� . , . ;:;,�, ;,-.,.. ^,,✓/ pay the sums secured by this Security Im�rumenr,and(c)ugrecs that Lendcr und un�othcr Borrowcr mny agree to extend,
<br /> , . � ��; - _ modify,forbeur or make uny accommodations with regurd to�he tertn�ot'this Secunty Inxwment or the Note without that
<br /> �„;�y,,,.r,�,•.. .' Borrower's consent.
<br /> 13. Notices. Any notice to Borcow�r pruvideJ for in this Security Instrument xhall be given by delivering it or by
<br /> .w:d�-' , mniling it by first clusti muil unless upplicuble luw rcquire, uuu of unother methal. The nutice shull be directed to the
<br /> .• � . Property Address or nny other addres.r• Burrower dexignuter by ni�ticr�o l.cnder. Any nu►ire la Lender shall be given by
<br /> • ° • first class mail to Lender,uddress.tuteJ herein or any addreti� Lcnder drsignatcs by notice to Bortower. Any notice
<br /> � P�ovided for in this 5ecurity Inxtrument xhall fx deemed�o huvc hecn given to Borrowcr or Lendrr whcn given u.+proviJed
<br /> � � • �n this puru§ruph.
<br /> 14. (,overning l.aw;Severabllity. Thi.Seruriry Imtrumcm �h�ll ix govcrncd hy Frdcral law unJ the luw of the
<br /> jurisdiction in which Ihe Ri�perty iw locoted. In the rv�nl that:�ny pr��visian ar cluusr of this Sccurity Insttument or the
<br /> � Note conflicly with npplirublc luw,cuch ron0ict ,hall nW uffert uthcr provi�iuns of thix Scrurity Instrument or the Note
<br /> � ' which cwi be given effect without the contliciing provixion. 'fi��hi.cnd �hc provi+ion+of thi.Srcurity Imtrument und the
<br /> ' Note are declared to Ne+cvcrablc.
<br /> I5. Borrowcr's Copy. 8nrcowcr.hull lx givrn unc cunfunneJ rupy ut'thi�Sccuritv Instrumcnt.
<br /> � , � 16. A�.giRnmenl uP Rents. HorroHCr u�x:ondiiiunally a��ign.und�ransfrr+�o Lcndcr all thr rcnts und revenurs i�t�tlx
<br /> � ' property. Borrowcr authuriie.LcnJcr ur LrnJcr:ugrntti�o rullcri ihc rcntti unJ rrvenuc.und hcrchy dircc�,cach tenant of
<br /> - the PropeAy to pay Ihe rem.to Lcndcr or Lcndcr'+agrnt+. H��wrvrr,prior to Lrndrr's noticr to Born�wcr of Biirtowcr's
<br /> - brench of uny covenant or u�recmcnt in thc Scrurity In.tromrnt.Rurro�ccr�hall cullcrt and rcccivr all nnts unJ rcvcnur.af ;
<br /> . ,- �.•;t`;-t .1«:__ the Pmoertv•rs trustce for thc l�enetu of Lcnder and k3arrawrr. 'I'hi.usxi�nmrm uf nnts rcrostilutrx an nNsolutc ur�i�tnmcnt
<br /> . ± ' und nol un ussignment fur uJJitional.ccuriry only. �
<br /> . „ ` If Lender gives notice ol'breach to Borrowrr; I;il ull rrnts rrrrivcd hp Hurcuwer.hall!x helJ hy BuRUarr u.tru.�ce
<br />, ' "" for bene�t nf LcnJrr unly.to tx upplicd tu Ih� sunt� +rcurcJ h�• �hr 5rruril�• Inztrumm�l: Ihl LrnJrr�h:dl Ix rntiticd tn
<br /> rollrct unJ receivc ull of thc rent.r uf�hc I'ri��xrty:+md lrl carh irnanl��f Ihr F'ruperiy �hcdl pay ull�nts dur anJ unpaiJ tu
<br /> „ •� . Lendcr ur Lendcr's ugem on Lrndrr'+wrillcn dcmunJ to dk trni►nt.
<br /> . Borrowcr ha, not cxrrutcd uny priur as+ignmcm uf thr rcnl. and ha, rnd and will nul �krtimn:�ny a�t th:u w�,ulJ
<br /> „ ,,. prevent Lender from rxcrci+inE il.ri�hts undcr thi.Pur��:raph 16.
<br /> ' Lcndcr�hull n�it tx reyuired to cnlcr u�m, takr ruulrul��f ur mainlain �hr 1'ri�xny ixtirr�or altcr�;i�•m�; niiurr ul ,
<br /> • brench to Borruwcr. Ilowcvcr.LcnJrr ur a judicially u��+inteJ rccciacr nuiy Ju,u al am limr Ihrrc i.u hnuch. Any
<br /> „ • applicutiun of nnts.hull nw curc ur wui�•c any drlauli ur m��alidulc any uihcr riEht ur rrnudy nf Lcndcr. "fhi,�i..iEnmrnt
<br /> • , of rcntx ul'thc I'roperty.hull Icrniinatr w•hrn thc Jrh1�.�curcd hy thr Srcurit) lu+trum�nt i,paiJ in lull.
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