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<br /> ���, � RE-RECORDED
<br /> - �,:=�`.-.--�---�W---`� • ' � �.0 6118
<br /> —_ — � • a1_... � ne�n� 4l-.�
<br /> =-�I - • • � �,Ii .LVVVV 7
<br /> _�� — � 'psymp�ts,which aro r+eferned to in Paraq�p�2,or chonge Ihe otnount of such paymenta. My excew praceeds over an
<br /> m�ount cequi�ed to pay�II outrtandin�inde- btedne� wuler ihe Note and thic Security Inetrumant a�h�ll be pald w the entity
<br /> _ ' =3 k�st!!y ea�sdtled thema.
<br /> �� � 8. Flea. L.ender mey collect fees and charaes authodzed by the Secretary. `
<br /> _„��;; 9. Groundi tor AccekraHoa ot Debl.
<br /> (a)Detaul� l.ender may,oxcept us limited by cegulations iasued by the Secretary in�he c�e ot payment dofault�,
<br /> _� — �equi�e immediate payment m full uf all sums�ecw�ed by this 3ecurity lnswment if:
<br /> —;--
<br /> _ — _ --_ __ (i)Horrower defaults by failing to pay Y�YI eny monthly payment rcquired by this Secwky Imtrumant p or
<br /> - � W or on the due dete of tt�e naxt monthl ment,or �`
<br /> „,._ pi)Borrower dcfault�by failing.for a period of thirty dnys.to perform aay other obligations cantalnrai in thic
<br /> _s;�:;>� Security InstrumenG _
<br /> (b)Sale Wilhout Credit Approval. Lender shall.if permitted by applicable law and wlth�he pdor approval of the
<br /> -'-_�?? gecre�ary,rcgulre immediete payment in full of all the sums secured by thie Security Instrument If:
<br /> (i) All or part of the Property.or a beneficial interest in a trust owning all or part of�he Property,is sold or
<br /> _^^_ _ _ _^•,� othcrwise transferred(othcr than by devlse or descent)by the Borrowcr.and
<br /> �yM1— (ii)The Property is not occupied by the purchascr or grnntee us his or her principal residence.ar the purchaser
<br /> -- ;�4Y;�:=.���_�_� ot grantcc daes so occupy the Property but his or her credit has not heen appruved in accordance
<br /> _=•,�:,.�:- :.
<br /> wit6 the requirements of the Secretary.
<br /> -- -�tt•e�.•�-� (e)No Wwiver. IP circumstances occur that would permit i.ender to requirc immediate paymeM in full.but Lender `
<br /> daes not require such pay ments,Lendcr das not waive its righta with respect to subsequent events.
<br /> (d)Re�uls�dons ot HUD Secrefary. !n maoy circumstances regulations issued by ihe Secretary will Ilmit l.ender's
<br /> � ;��- `-,; rlghis, in the case of payment defaults, w require itnmediate payment in full and forectose if not pa�d. This
<br /> ",�� Security Inswment dces not authorize acceleration or foreclosure if not permitted by regulatiom of the Secretary. c -
<br /> �r:�± (e)Mortgage Not Insured. Borcawer agrees ihat should�his Security insuument and the note secured ihereby not
<br /> '`�� ?` ''' � be eligible for insuranc�under the National Housing Act within 8 mont hS fram the -
<br /> �� �:` , �� ���� . date hercof,Lender may,at its optian and notwithstending anything in Paragraph 9,require irnmeditte payment in _
<br /> ��;��`-= ��� �� ''' full of all sums secured by this Securiry Insuvment. A written statement of any authorized agent af the Secretary �._
<br /> ..._iz,r�...
<br /> - '�� , ''���� dated subsequent to 8 mont hs from tltc datc hercof,declining to insure this Security
<br /> '"-``�-p� ` '�� �' Insuument and the note secured thereby,shall be deemed wnclusive proof�f such ineligibilily. Notwithstanding
<br /> -" ��`�1� �' the foregoing. this option may not be exercised by Lender when the u�iavailabiliry of inwraice ia solely due to __
<br /> ="='�'��=�^*�,N:: a l.ender'a failure to remit a mortgaga insurance premium to the Secretary.
<br /> �e��.
<br /> ° � '�'' ''� 10. Relnstatemen� Borrower hes a right to be teinstated if l.eader has required immediate payment in cause =
<br /> - �>•-�`-•�•��� of Bomower+s feilure to pay an amount due under the•Notc or this Securiry Msirument. This righ�applies even after �
<br /> ��� ��`-�'�q�'•'� forcclosure proceedings ure instituted. 7b reinRtate the Security Instrument, Borrower shall tender in a lump sum all �
<br /> -'�"',e'�____r.;,,n�i��% _= amounts requi�+ed tu bring Borrower's account cument including,to the extent they are obligadons of Borrower under thia
<br /> "`�� Security Inswment,foreclosure costs anci reusonable and customury a�iurneys'f��,utid expense� operly assaclaitd s�ilh
<br /> u
<br /> the forecbsure pracceding. Upon reinstatement by Borcower.�his Security Inxtrument and the ligations that it secures �
<br /> � � !.' d: `� shall remain in effect as if Lendcr had nat required immedia�e payment in full. However,Lender is not required to permit _
<br /> _ ' �Y9G�'' �� • reinatetement if: (i)Lender has accepted reinstatement after the commencement of foreclosure praeedings withm two
<br /> .-`•�t r �. �.�.'�� years immediately preceding the commencement of a cuRent foreclosura proceeding. (ii) reinstatement will preclude __
<br />�";''{ foreclosure on different ground4 in the fuwre,or(iii)reinstatement wili advenely nffect�he priority otthe lien creuted by _�
<br /> -_- -.-.`� � this Security Instrument.
<br /> =_. - .�.�. � . 11. Borrower Not Relewsed: Forbearance bv l.ender Not a Walver. Extension of the time of payment or
<br /> . modification of emortixntion of 1he sums secured by thix Security Instrument grsanted by Lender to any auccasar in interest --.---
<br /> ' �• . "'� •"��" of Borrower xhell not operure to rclease the liubiliry of thc origfnul Borrower or Borrower's successor m interest. Lender �,_
<br /> "�� ahell not be uind to commence proceedings against ciny successor in interext or refuse to extend�ime for payment or _��
<br /> � n
<br /> .� �� � -�"'�°"�� �� otherwise rn dify umortization of the sums secured by thi4 Security Instrument by rcason of suiy demand rnude by the --
<br /> :'���°' : � � original Bortower or Borrower ti successars in interect. Any forbeanuuc by Lender in exercising any right or remedy shall �" '
<br /> `^,�`' '�° '""�1� not be a waiver of or preclude the exerciu of uny right ar remedy. �
<br /> ,7� • 12, Successors and Assf�na Bound;Jolnt And Several Liabilify: Co-SlgnerA. The covenants and agreements of �
<br /> '� �� this Security Instrument shall bind und bene�t the succe4sor�und a+wignz of Lender und earrower,�ubjxt to the provisions �
<br /> -'�r''�� �.''�" „•• " of Paragmph 9.b. BorrowerF covenuntx and ngreements shall be joint und sever�+l. Any Borrower who casigns this _.
<br />" ^',.'� r ��. . .. � Security Instrument but dces not execuie the Note: (al is co-tiigning this Scruri�y lnstrument only tc�mortgage,grnnt und �-�-
<br /> ���`� -� convey that Bortower's interrs�in the Propeny under thc tcrtns of thiti Security In+lrumenr,lb►iti na personolly obliguted to
<br /> '�W -�+��• � pay the sums secured by this Security Instrumenl:und(c;u�rees Ihat L.ender:u�d any other Borrower may agree to extend. � .
<br /> �Y Y��
<br /> � , modify.forbear or muke uny uccommcxlntion�wi�h regard to the tcrtns of this Securiry Intitrument or the Nde withaut that
<br />-��'- . � , Borrower:s consent,
<br /> :�;_;. "��;'•_ . �a • 13. Notiees. Any notice to Borrower provided for in thi�Securily Imtrument shull be Fiven by delivering it or by
<br /> " ��3" , ' � mniling it by first cluss mail unlexx applicable law reyuires uuu uf unother methixl. The rnxice shull be directed to the
<br /> � • " . propeRy Address or uny other uddresx Bortower designules by n��tice to Lendcr. Any notirc to Lcnder+hrll be given by f` `
<br /> ,.,�,.^. '. " first class muil to Lender; uddresx +tuted hrrein ar uny udJresx I.enJer drsi�nales by notirr to Bixrower. Any notice �'
<br /> . „ Qrovided fcx in this Security Inslrument tihall hc dcemed to havc hecn�i vrn t o Ru r rc�w c r or Lender wh��n givcn ati provided 4�...
<br /> m this pnrt�graph. ;�
<br /> • 14. Covernin� Law:tieverubillty. This Security Instrument tihall Ix gavrmcJ hy Frdcral Isw und the luw ot'the
<br /> jurisdiction in which the Property is I�xuted. In Ihe evcnt thut:my provixion ur cluuxe of this Securily Inslrument or the �
<br /> '� � � � Note conflicts with upplicubM law, such cuntlirt+hull n��t:dicct �nhcr pnwisi��m of thi�Suuriry Intiirument or the Note
<br /> • which cun be given eftect withow the conllicting pruvisinn. 'lii this rnd the pruvitiion.nf�his Security Inswment and the �,.,,
<br /> Note urc declared to be+rvcrublc.
<br /> ; IS. Rnrr��wcr'�('npy. H�na���rr.hall hrpi�.•u��ur.�mt��rni.•d.up� �d thi.tir.wit� In.uurn�•nt. �
<br /> 16. Assipnmcnt oi Nents. Hurtowcr uncouJitiunully u..ign,anJ trcunlrr,�o l.cndcr all tli�rcnt.an�i rcvenucs al thc
<br /> prope�ly. Borruwcr uuthoriic,Lendcr or Lender�agent�a�c��lkrt�hc ren�.an�l mvcnues und hereby Jirect+cach tenant of
<br /> the Propeny to pay thc n�nts to I.ender or Lrndcr�agent.r. f I„wrvrr.priur lu Lcndcr's notice tc�Bc,rn►wcr ot'Borrowcr's �
<br /> breuch of�ny covenunl or ugrcement in Ihc S�curily In.trumrnt.Borcowcr tihadl rollcct and receivc all rent.und rcvenue.of
<br /> �•� the Property as truslec for thc ixnrtit iif l.rnder und Bom�wrr. This u�xignmr�t uf rcnlx ron+titute+:in abzolutc assignment
<br /> ' and not rn ustiignment for additionul sccuriry ouly. r"
<br />, , ,
<br /> If Lender gives notice ol'breurh a�Rorrowcr. 1a1 all renl�rccri�•cd by R��rru��•cr.hall Ix helJ hy Barmwcr a�trustec !
<br />..__ _ • . ' ' ' _ ' . . . .. . . .. . . a �. .�.. c...._:... �_..._.....__.. .L. � .....a.....l...11 �.......�:d...l �..
<br /> - - - tOf DCI1C11[oI I.Cllae� only. �o txt ap�ntru iu uir �u�n�.c��ucu nv u�� a...u�n. ���.,������..��.. u.� .. �...�. .... ... ......�.. ... f�....
<br /> collect and rcccive all��f�hc rrnt��,f the I'ro�xm�:and�r►rarh trn:mt of thc I'ruprrh•�hall pay :�II r�m�Jue und�unpaiJ i�� ,
<br /> , �"" Lender or LenJcr'�aEcm on l.cndcr��vrinen dcniand tu thc tcnant.
<br /> ,- , Borrower huc nut executcd any priur a,tii�nmrm ul'Ihr rcnt� :uiJ ha. nu�and aill not perti►nn nny art thut a•ould �.
<br /> • � , prevent LenJer from cxcrcising it�riEhtti undrr�hi+ P:iragraph I h. �.
<br /> ., . Lender tihall not tk rcyuircd to enter u�wn.lak�rimtrnl uf or maintain the I'raprrly txti�rr or altrr givin} nulirr uf
<br /> breuch to Borrower. Hi�wever. LcnJcr or u ju�iciully ap�x�inted recrivcr may da �u al any linu Iherc i�:i hrcarh. An�• ,
<br /> ,,, �,. aPplication ol'rcnt.sh•rll no�cure or wai�•c an} �icfauli ur im•aliJatc:my�uthrr right ur rrnxd�•�,t'LrnJcc "fhi�a�,ignmrm
<br /> of rents ot'Ihe Pmperty+hall terminutc whcn tlu�khl,ccureJ hy thc Securiq In,trumrnt i,paid in ful I.
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