|
__ _
<br /> �--i IG_ . .. .. . ... . ' . __-__.
<br /> ��� I "__' � ' .
<br /> I�, • � S`i r�.e.. ' ___. .__�fl� ._ •il� .
<br /> .���'�:w�^:. \uM.�
<br /> �. �
<br /> :,�.. �..�. . �� �,Ubll i _
<br /> --�!aaiG��„w- - °— '
<br /> --- _ • w—
<br /> „ p�ymente,which an rofemed to in Paregrwph 2,or change the amount of auch pwyments. Any excess prnceeda over an
<br /> amountrequired to pay dl ouwtuidin�indeMedners under the Note�nd thi�3ecurity buuument sh�U be pa�d w Iha rntlty
<br /> - -,� la�y ttstki�d dststto. .
<br /> -- -- - B. Feee, I.ender nuy coUect fees and chargea autFwrized by the Secrcuuy. __
<br /> _ `' 9. around�tor AccekrANon ot ikb�
<br /> s.��: (q)Defaul� Lender may,except as limited by reguladana issusd by tho Secretary in tta ca�of payment dafwlt�,
<br /> requiro immediate payment in full of a!1 suma secured by thia Secudty Instrument if:
<br /> __ _ �_� (i)sarn+wer defaults by feiling to pay in full any monthly payment required by this Secu�lry Inotrument prfor �
<br /> w or on the due dete of the neat manthly peyment,ar
<br /> -_ (ii)Bomower dcfaulta by failit�g,for a periad of thirty days,w perform any othcr obli�ationr contained in thic
<br /> _�� Sesurlty InstnunenG
<br /> (b)Sale Wilhout Credit Approvql. [.ender shell,if permitted by appNcable law and wi�h the prfor approvAl of the
<br /> -----'?�r Secnetery�require immaliate payment in full of ell the sums secured by this Security Inatniment if:
<br /> --:�.i�i,::�'� (i)AU or puR of the Prope�ty.or a beneficial interest in a trust owning ali or part of the Property,is sold or
<br /> '--_=�:-.` •� otherwise transfemed(other than by davise or descenq by the Borrower,and
<br /> -T `^•:ti�';;�,;- (ii)The Property is not occupjed by the purchaser or grantee as his ur her principal residence,or the purchnser
<br /> -__— � or grantee dces so acaupy the Property but his or her c�rdit hes not been approved in accordance
<br /> �°-_ with the nequirement�of the Secretary.
<br /> - ---�;��� (c)N�Wt�iver. lf cir�cumsta�ces occur thet would permit Lender to requirc immediste payment in full.but Lander _
<br /> dces not require such payments,Lender does not waive its rights with respect to subsequent events.
<br /> -�a�;c:.:;�� (d)ReQulAdona ot HUD Seeretary. In many circumstances regulations�ssued by the Secretary will limit Lenderg
<br /> k rights, in the case of payment defaults, to require immediate pay ment in full end foreclose if nat paid. Thic
<br /> r�.�
<br /> "=r- Security Inemiment dacs not authorize acceleration or fareclosune if not permitted by regulations of the Secretery.
<br />___---_ _—_:.:._�, -- -
<br /> - `�;� ���' (e)Mortgage Not]nsured. Borrower agrces that ahould thia Securiry Instrument nnd ihe note secur�ed thec�eby not �-
<br /> - �-°��Y �. be eligible for insurance under the National Housing Act wi�hin ninet da s from the
<br /> ;�'"":-%.": •� � date hercof,Lender ma y,at its o ption and notwithstanding anything in Paragyraph 9,require immediate payment in
<br /> ..�.;:;,: ,.
<br /> ���•�?�_::`•. " full of all sums securcd by this Security Instrument. A written statement of any authorized agent of the ecretary
<br /> � -�._ ,. •,
<br /> ��`'"''��� dated subsequent to from the date hereof,declining ta insure this Securily
<br /> a___'_
<br /> �..� '��_..sl:w,�::
<br /> :��:r:� '.., Instrument and the note secured thereby,shall be deemed canclusive proof of such ineligibility. Notwithstanding
<br /> -='=4�`•�� the foregaing. this option may not be exercised by Lender when the unavailabiliry of insurence is solely due to
<br /> • �
<br /> w•.;�`'� L.ender's feflure ta remit a mortgage insurance premium to the Secretsuy.
<br /> -- �---��'=•=���' 10. RelnatAtemen� Bortower has a dght to be reinstated if Lender has required imme.iiate payment in full because
<br /> -���.., �� of Borrower� failure to pay an amount due under the•Note or this Securiry Instmment. This dght applies even after
<br /> �,,,�,,�� foreclosure proceedings are inatituted. 7b reinstate the Securlty Inatrument, Borrower shall tender in a lump sum all
<br /> -_- ---- -__--_-- amos:nts res;ulted to brin��+R�wer x account current including,to the eatent they are obligations of Borrower under this
<br /> - :'�d�"-_ �'r T� Security Instrument,foreclosure costs and reusonable and customary unomeys'fees nnd expenaes properiy associated with
<br /> �-• x,:�.�...J . .
<br />'���� < <�.. ihe foreclosure proceeding. Upon reinstatement by Borrowcr,this Security Instrument.md the obligations that t secures
<br />-- 1�,,;' •,� ' shall remein in effect as if l.ender had not re.c�uired immediatc payment in full. However,Lender is not required to Qermit
<br /> — �,_�, F neinswtement if: (i) L.ender has accepted remstatement after the commencement of foreclasure proccedings withm two
<br /> - years immediately preceding the commencement of a current foreclosure proceeding, (ii) reinxwtement will preclude
<br /> ��a`,r�d=.d foreclosure on different grounds in the future,or(iii)reinstatement will adverscly affect the priority of the lien crented by
<br /> ,,,��� .-r '-r-• •• � thiaSecurirylnstrument. —
<br /> ���&a�~l :' '.. 11. Borrower Not Released: ForbearAnce b� Lender Not a Wafver. Extension of the time of payment or
<br /> - �.�:�.+,;;,,,;,�%�,�,. ' maditication of amonization of the sums secured by th�s Securit�Inswment granted by Lender to uny successor m interext
<br /> ""'n��� ,,. ,.-'� of Borrower shall not o rnte to releatie the liabilit of the ori �nal Borrower or Borrowerg successor in interest. Lender _
<br />---�._�r;:°,.,_ g -
<br /> '°�" -�`•*-^_ shall nw be required t commence praceedings aguinst any xuccessor in interest or refuse ta eatend tima for payment or _
<br /> .-`��?'"7;;,; otherwise modify amortization of the sums �ecured by this Security Inxtrument by renson of nny demnnd mnde by the
<br /> "'����'•�`.'-�-�:� .:: original Borrower or 8orrower's successors in interest. Any forbearance by Lender in exeroising nny right or remedy shall �
<br /> ��,���:�-. ,• not be a waiver of or preclude the exercise of uny right or remedy.
<br /> -�%'���-r--. > 12. Successors and Assigns Bound;Jalnt and Several LiabUity;Co-Signers. The cnvenants und Agrcements of _
<br /> ��z��-'��".��� this Security Instrument shull bind and benefit Ihe xuccesson und ussigns of Lender und Borrower,xubject to the provisionx �
<br /> „„ .,,,,�, , of Pura h 9.b. Borrower's covenunts and ugreements ,hull be joint �nd severul. Any Borrower who co-signs this
<br /> , ���y'" S�P
<br /> Securlry Instrument but doe.r•not execute the Note: (a)is co-signing thix Security Instrument unly to martguge,grcuu and _
<br /> �����'�'�'� °"� "" canvey that Borrower's interest in the Pmperty under the termz ot'thix Security Inxtrument:lb)is not per�onnlly obligated ro �
<br />- i_,t �`
<br />__•�P'��'� =' t
<br /> � pay the sums secured by this Security Instrument;und(cl ugrces�hut LenJer und any other Borrower muy agree to exlen ,
<br /> '"`�'-� �,""`��� modif forbear or make un accummalutium with regard to thc terms af thi�Sccurity Instrument or the Note without that
<br /> �_�:�'. �>�-.. ,,�,,,��:, y. Y
<br /> �.'e�„.��,. Borrower�consent.
<br /> =Y;� 13. Notices. Any notice to Borrower provided for in this Security Instrument �hull be given by dclivcring it or by
<br /> _"°.���' � mailing it by first class mnil unless applicuble law rcquirey us�of unother method. Thc notice shall be dirccted to the
<br />��',� �; , property Address or any other address Burrower dexignateti by nolice to Lrnder. Any nntice lo Lender shull be given by _
<br /> ' ���� ' first class mail to Lcnder's addres� stuled hcrein or uny :►ddress Lender designu�c+ by notice to Bortowcr. Any noticc �,
<br />.'�z i' � provided for in this Security Imtrumcnt lhull he deemed to huvr hecn Eivrn to Borrower or I.cnder when given us provideJ
<br /> ` � �� in this pnrugruph. _.
<br /> � ' 14. Governln� Law;Severability. This Scrurity In�trumcnt.hull tx Euvrm�J by Fcdcrul law and thc luw of the _
<br /> � j�irisdiction in which the Propeny is I�xuteJ. In thc rvenl thut uny provision or rluu�e of thic Security Instrument or the
<br /> � . NMe conflicts with upQlie�ble luw, ,uch contlict +hull n�n al'fect��thrr pruvisi��n.uf�his Security Instrument or�he Note _
<br /> which can be given eftect without the contlictinE provision. 'fi�thix end thr pravi.iom oi'�his 5ecurity Instrument ond Ihe t:
<br /> Note urc declareJ to bc zevcrahle. :
<br /> �� �� I5. Bnrrower's Copy. Bormwcr tihull lx givrn unc cunfornicJ rupy nf'this Securiry Instrumrnt. ;
<br /> � 16. As.rignment�►f Renls. Burrow�r unconditionally ati�i�m:►nd tramfrrx to LenJer ull Ihe rents nnJ revenucs i�t'thc �
<br /> � � � � , Ptoperly. Borrower uudwrir.rs Lcnder or Lcndcr�ugrnt�tc�collect thc ren1�and revrnuc�unJ herehy directs cuch Icnunt of _
<br /> thc Praperty to puy thc rcnl.to L.cndcr ur Lendcrti agcnt+. H„�ar��cr, priur to LrnJrr; nuticc ti� Borrowcr�►f gorrower's _
<br /> . brcach of uny covcnant or ugrecmcnt in thc Sccurity Imirumrn�.Bi�rrowcr�h:dl rullcrt unJ rcrcivc ull renls xnd revrnucs of =
<br /> the Property ux tnister for the Ixnctil of Lrndrr:md Bum�w•rc Thi+�titiiEnment ol'renk c��nstitute,nn abxalutc axxiFnment --
<br /> und not un assignmcnt titt uJditional xecurity unly. -
<br /> If I�ndrr oive.nrnire nf'breuch t�i Horcowcr: lul ull renls rccriveJ hy I�urr��wrr.hall tx helJ hy Bi�rruwer�►s Iruslee `_
<br /> " _ ,-- for t�enefit nf Lendcr unly.tu ix applicd ��► thc �um� +ccund hy thc S�rurity Imtrurncnl: (bl Lrndcr shull tx rnnUrd w -
<br /> e ..°• � . collect und receive ull of the rent+��f�hc Pru�xrty:suid Icl euch tenani uf thr I'ruprrty tihall p•ry all rent�duc und unpaid tu
<br /> L��ndcr or Lcndcr z ugem on Lcndcr:writtcn dcmunJ tu Uir tcnant.
<br /> � , Bom�wer hu+not exrcutcJ uny priur as,i�;nmciu ut'thc rents and hu, nui and will n��t�rtiirni any urt thut w�uuld =
<br /> • prcvent Lender frcHn exerci,ing it�ri�htx ornler�hi.P:�ro�ruph I(,. �
<br /> " � Lcndcr xhall not he rcyuireJ to entrr uFxm.takr runlral ��f or muintuin ihr f'ruperq•helixr �,r aftrr�:irinE nulirr uf :
<br /> breach to Borrowcr. Huwcvcr. Lendcr ur i�judiciully appuintrd rrcciver muy Ju.�,;U any timr Ihcrc i.a hrcarh. A�q
<br /> . ^ . ' upplicution of rents shull no1 cure or wuivc any Jefuult ur in.•aliJ:ite uny���hrr riEht or remrdy of LrnJcr. Chi,a�.i�:nmrnt
<br /> „ . of rents of the{'ruperty+hull tcrminatc when the Jcbl�ccurcJ by thc Sccurity Intitrumrm u paid in full.
<br /> ;
<br /> �.?� � ��wier t,./J��q.Ye��
<br /> � --^�c•i---°-w—.
<br /> n
<br /> i
<br />
|