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<br />-_-- -�---i-=--� 91-:.1 Q6238 �
<br /> paytnents.which iva refetred to in�1vag�or change the amoune of such paymente. My excess procceds over an
<br /> °--------- �utwunt�oyuiRxf w pay all outat�ndin�irtde ese under IM�Nde�nd th1�Securiry Inrtrua�ent�htll bo p�id w the endty
<br />- k��lly entillod Ihereto. -
<br /> 8. Rae. l.ender mwy collxt fees and char�en authmlzed by ibe Secretary•
<br /> 9. Growid�far Accekr�don d Debt.
<br />- (a)Dehal� Lender m�y.eacept wa limited by regul�tiom is�ued by Ihe Secretary in the case of payment defauit�.
<br />___--____;-� reyuire immediatepayment in full of ell eume secured by th{s Security Inauumrnt if: r
<br /> (i)Bamwer def4ults by failing to pay in full any manthly pnyment reyuired by this Sccurity Insswment pdor
<br /> — to or on the due dete of tho next monthly payment,or
<br /> (ii)Horrower default�by fieilinQ.for a period of thirty days.to perfom�any other obligations conwined in thiR
<br /> Saurity lnswmen�
<br /> _== (b)Sale WiWont Credtt Approv�l. Lender ahall.if permitted by appifcuble Inw and with the prior approv�l of the
<br /> Secrctwy.requi�lmmodiate payment in full of ell the aums securcd by this Secudty tnstniment iF.
<br /> w� (i)All or part of tho Property,or e 6enaficial interau in a trust owning all or part of the Property. is sold or —
<br /> -� •.;;� othenvlse tranaferted(other then by devise or descent)by the Barrower,nnd --
<br /> - ----- _� (li)'i'he Property is not occupied 6y the purch�t rhis ornheracredit rhas not cbeenrcappravul inh aecorrdance
<br /> —`�""- ar grantee daea so occupy the Property
<br /> -'"'- wilh the re:quirements af the Sec�+etary.
<br /> �'-� (e)No WAiver. If circumstances occur that would permit Lender to require immediate payment in full,but Lander
<br /> -_'_ -°— doea not t�equire such a ments.Lender dces not warve its dghts wii�i respect to subsequent events. __.
<br /> e
<br /> Y=�N (d)Re�uW�Nons ot H Seeretary. In many clrcumstances regulations issued by the Secretery wlll limit Lender a
<br /> ---`;�'';._ r�ghts. in the case of payment defaults, to require immediate payment in full and foreciose if not paid. This _
<br /> --�,�;,�„4 Seeunty Insuument dces not authorize acccleration ar fore�;losure�f not permined by regulations of the S e cretary. _
<br /> ` -- . (e)Mortgage Not Insured. Borrower agrees thet should�hia Security Instsu�mgqt,gpd the note secured thefrom the
<br /> �_:,,,�.:r.��r '.
<br /> be eligible for inaurance under the National Housing Act wilhin 9 URT 5
<br /> —.�::..e..,�;,� date 6ereof,Lender may,at its oplion end notwithstending anything in Peragruph 9,require immediate payment in
<br /> �ry�;��.� full of all sums secured by this Seeuriry Instrument. A wrftten atatement of uny nuthorized agent oi'the Secretary
<br />��'�"'';�-� dated subsequent to 9D DAYS from the date hereof,declining to inaure lhis Security
<br /> �i Instrument and the note secured Ihereby.shall be deemed conclusive proof of such ineligibility. Notwithstending
<br /> =- °•`�'.�` thc foregoing. this option may not be exercised by Lender when thc unavailability of insurance ia solely due to
<br />'"°'��'"�a:�±�. Lenderk failure to remit a mortgage insurunce premium to�he Secretary. —
<br /> `""'""` � 10. Reinetatement. Borrower has a right ta be rcinstated iF Lender has required immediate payment in full because —
<br /> --:::.r;,':. —.
<br />-=_ �;�:;;�;,;� .r_ of Borrower's failure to pey an amaunt due under thc•Note ar this Security Instrument. This right applies even after
<br /> Y. foreclosw�c praceedings ere instituted. 'li� rcinstate thc Securiry lnstrument, Borrower 4ha11 tender in n lump sum uil
<br /> -n,�•;� :_-
<br />,.L�,,..��: , amounts required to bdng Borrower's account cument mciuding,to the extent ihcy w�uUligationa of t3atsowcr under ih s
<br /> t��'�' "� � Securiry Instn�ment,fomclosure costs nnd rea.gonable and customery attomeys'fees nnd cxpenses properly�+ssociated with
<br /> ;�i._••� ; a , . the foreclosure proceeding. Upon reinstatement by Borrower. this Security Ins!rument and Ihe obligations that it secures
<br /> ���.�,;..: shall remain in effect as if Lender had not required immediate payment in full. Howevcr,Lender is not required to permit
<br /> ��. ±="° �`` relnstatement iE (i) Lxnder has accepted remstutement after ihe commencement of foreclosure proceedings withm two
<br /> ��,�� ' years immediately preceding the commencement of a cument forecloxure proceeding, (ii) reinstutement will preclude
<br /> ��:w,.��,,.• ' foreclosurc on different grounds in the future.or(iii)reinstutement will adversely nffecl the prioriry of thc lien created by
<br /> ;�.,.W�:•;;;,;•;;•' �hia Security lnstrument.
<br /> .,:�,�,�.... .. � 11. Borrower Not Released; Furbearonce by Lender Not a Waiver. Extenaion of the time of payment or
<br /> �.,,�,";;s,:�, modification of amonixation of the sums secured by thi.c Security Instrument grunteJ by Lander to uny successor�n mterest
<br /> ,,,,,K,,,,,a. of Bomower shsll not operntc ta release the liability of the original Borrower or Borrower4 succeasor in interest. Lender
<br /> r shall not be mquired to commence proceedings ugoinst uny succe+sor in in�erext or refuse ta extend time for payment o�
<br /> ' .�--- otherwise madify wnoniu►tion oP the sums xecurcd by thi�Security Intitnrment by rcuson of uny demand mgde by �he —
<br /> .�s°�''�'::x:r" •' Oil$�IIBI BOROWC�0�BOROWC�5 SUCCCSSO�3 ID 1111C1'Cti�. Any furlxurunce by Lender in excrcising nny right or remedy xhall
<br /> ��••"'�'•`:'�ly. not be a waiver of or preclude the exerci.se of any right or remedy. _
<br /> ,,,�,;,; ,---' 12. Successors and Aavigns Bound; Jolnt and Severel Uubllity;Co•Siqners. The covenants und agreements of
<br /> -"—"" ����i •� this Secudty Instrument shall bind und benefit�he succesxors und assigns of Lender und Borrower,subject ro the provisions
<br /> �;�� ,��"„ of Pivagraph 9.b. Borrowcry covenantx nnd ugreementx tihull lx: joint und severul. Any Borrower who co-s�gns this �
<br /> N.,,,,r r. Security lnstrument but does not execute the Note: (a)ix co-tiigning this Security Instrument only to mortgage,grant and
<br /> ;�:.� .;,,,,��,. ° convey that Borrower's interest in the Propeny under the�ermti of�his Securiry Inxtrument;(b)ix not personally obliguted ro _
<br /> , 1� pay the sums securcd by this Security In,trument:und Ic)agrees�hat Lender und uny other Bormwer muy ugree ro extend,
<br /> '''�� � �';�.°�:n modify,farbear or make any uccommadationx with regurd to the�erm+uf Ihi.Security Instrument ur the Nnre without thut
<br /> Borrower's consent.
<br /> .="�°="'•r".�'��^,: , l3. Notices. Any notice to Borrower provided for in this 5�curity Instrument shull lx�givcn by delivering it or by -
<br /> �d F.�:.; •�;; muiling it by first class muil unlesr upplicable luw requires u,c of unother meth�xl. The naicc xhull be directed to the
<br /> .;;'.,•. � property Address or uny other addrcss Borrowcr dexignute.by notice to Lendcr. Any noticc to Lcnd.r shull be given by _.
<br /> � • • first clnss mnil to Lendcrti addrcs, +latcd hcrein or any address Lcndcr Jcsignatcs hy natice to 8orrowcr. Any noticc
<br /> � �-, , � Provided for in this Security Instrument shull he dcemrd t�havn c�en given to Hnrrowrr or l.rndrr when givcn us provided �
<br /> in this ps�mgraph.
<br /> •. � � 14. Governins I.uw;tieve�abilitv. 'Thi. Sccurity Imtrumcnt�hull Ixr guvrmrJ by Fedcrul luw und Ihc luw of thc `
<br /> •,. ' „ jurisdiction in whirh thc I'roperty is lixatrd. In the cvcnt Ihut nny provisiun ar rlauu of�his Security Ins�rumem or the
<br /> , Note conFlicts with up�licuble law, wch cunflirt �hull nu1 atl'rci olher pnwi.ium uf thi. ticrurity Inztrumrnt c�r the Note F
<br /> " • which cun bc given effect without ihe contlictin�pr�►vi�i�m. "li�ihi�end thr�xo�•i�ion���f�hi�Scruriry Instrument�nd the �
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<br /> NWe are declureJ ti�be�cvcrablr. =
<br /> . 15. Borrower's Cupy. l3�irrowcr�hall Ix pivcn onc cunt'umird c�►py uf thi.5crurily Imtrumenl. �
<br /> . 16. Assignment of Itenls. Horrower un:unJiliunally a��ipn+ :ukl Iran�fcr.tu l.cndcr all Ihc rrntx anJ revenues uf Ihc
<br /> . ,. , property. Borrowcr authoriic�LcnJ�r or LrnJ�r',:i�:ent.tur��Ucrt �hc rrnl+:md rrvrnur.und hcrcby Jircc��cach Icnunt ut' �
<br /> =-�- the Roperly to pay thc rcnts to LenJcr i�r l.rixicr'+a�rnt,. F lu��cvcr. priur tu LrnJc�'s notice to Borcowcr af Batmwcr a ,
<br /> � ' brcuch of uny covenunt ur ugrcement in dk Securily In.trument.N��rniwer�hall rullcct:md receivc all rent+und rrvenurx o(
<br /> Ihe Propeny ax trustcc ti�r Ihc Fxnefit ut'Lcnder:md Hurruu•cr. Thiti astiignntcm i�l mnts ronslitutrs im nbsolWC usxignment !
<br /> '�-r - ._.�_��.,�..�_.�._ und not an uxsiRnmrnl ti�r udJitional.ccurity unle. -
<br /> • .. . .. .. . .... ,..,��. .,.._.....__... ._......_
<br /> .�-----rt--�r- - �f�..Ctl(�C��,`IVl'ti IIOhCC Of hl'l'71l'h lO HO�ry1WtP: I:U�III rcnt�nccrva•u vy nunuwc� .u.�u i�c nc�u uy uv��v....� ��.,.�.......
<br /> � � for benefil of l.endcr only.a� Ix upplirJ tu thc ,ums ururcv hy thr tirrunty Inxtrumenr, lh1 Lcndrr�hall Ix rntilkd tu
<br /> - •� ' collect und reccivc ull nf thc rrnt.ut thc Pn��ny:und�c i�:�ch kn:m��,f thc{'roprny ,hall pa�•all rcn1,Juc and unnuid t�� �
<br /> ' "� ° , • Lendcr ar Lender's u�;rnt im Lendcr'+wriucn JemanJ to thr irnam.
<br /> ` Bortower huti nat rxcrutcd any prior a.,i�mnent �►f Ihr renl.and hu� no� and will not �kHi�nn any :ict that wuulJ -
<br /> � . , .. prevent Lender from czcnising it�right.undcr thi+I:mi�:raph I h.
<br /> , Lender shull not Ix reyuired to cmer u�m, lukr r�mu��l �dur muintain thr 1'ruFnrry Ixfurc ur atirr�;iving nut�re uf
<br /> ".,.: ` breuch to Horcuwcr. Huwcvcr. LcnJcr ur u �uJicially appuimcd recci�rr may du�u at any timr Ihcrc i. a hrcarh. Any
<br /> " � , applicution uf rcnt+rhull not cum ur wuivc smy JrGiuh��r m�:tliJatc an�•othrr riEht ar rcnmJy uf Lcndrr. "1'hi.a.,i�:nment
<br />— ,. .f.. - of rents ul'thc F'�operty shull Icrminotr whcn thc Jcht.rcured h�•�hr ticrurity In.�rumrnt i.paid in full.
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