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<br /> paymentr, which wr rcferred to in Para��ph 2,or ch�nge Iho nmount af such paymcntA. My exce�r.proceed�over an
<br /> �nwuntrcq uirod to pry�!I outeuudin�ir�dk6kdnau undcr tha Nntc and thfa Secu�ity In�trummt rhall be p�id�o�he entity
<br /> le�dly entiiled thercw.
<br /> 8. Feee� Lender may collcct fecs and charQce Authurip.cd by Ihc 3errciary.
<br /> , 9.(irounds tor AccekrAtba ot Debl.
<br /> (�)Detaulf. Lendcr moy,cxcept es limilod by regulntionx isoued by thc Secrct�uy in the ccu�o of'paymen�cbf�ulls,
<br /> require immedlntapnyment in full oP all Aumx�eaurod by thia Secud�y In�tn�ment if:
<br /> ° (i)Barrower dufauk�by fniling to pay in t1d1 nny mrmthly pnyn►em rcyuired by�hin SecuriQy Inatmment pricx
<br /> �;; to or oo thc duu d�ue of the next momhly paymom.or
<br /> (ii)Bortower daf�ulta by failing.for a periad�af�hiAy duyx,ta pc�f�m�uny othcr ohllgatlanx contAined in�his
<br /> Security Instrumcnt.
<br /> (b)S�le VYiNiout Credit Approval. L.ender shnll,if petmilled by ap�licublc luw and with the prior appmvul af Ihe
<br /> Sec�etary.rcquioe imrnediote puymrnt in full of al)Iha sumx hecured by Ihls Sccu�ity Inxlrumcm i f:
<br /> (i)All or piut of U►e Property,or v beneficinl intaroat in o�ruxl awning all or pan af thc Propcny.is sold or
<br /> ;..,r,,, , lN�icrwi�e transferned(othcr thm by devisc or dascenq by U�e Barmwcr,und
<br /> (ii)The Pnoperty ia not occupied by Ihc purcharwr or grnnlee us hig or her prfncipul rosidencc,or�he purchuser
<br /> , - or g�ntec dves so accupy �he Prapeny bul hiR or her credit hux nat hcen approved in accordanre
<br /> - , .•. � with the requii+cmenta of the Secretary.
<br /> �?.� �:.•,� � (ci Nu VYaiver. lf circamstances cecur that would�permil Lender to�uin:immediu�c payment in full,but Lender
<br /> ,.�: . r dces na rcquirc suchpayment�,Lender daos nnl waiva ils righlx wflh respecl to suhseyucnt evcn�s.
<br /> ' �� Id)ReQulatlons of HUD Seeretary. in muny eincumetances regulation�is�ued by the Secretary wfll limi�Lender's
<br /> ' ��' � �� 'E 4 �ighta in the case of paymcnt defaults,to �equire immcdiate puymcn� in full und foreclasc it nwpaid. This
<br /> •??''r;���;`=� a,��'�' - Seeuritp Instniment daeg not authorize accelem�lnn or fom.closure if not pertnitted by regulutiom► of the Secretary.
<br /> {:::,', �''''.-'1'" :�'-''t;'
<br /> �j•:��;�. • .:,�k,,.,,y,,„�.�,,e f' (eD Mvrtgage NM Insuren. Borrower agrees that shc►uld this Securi�y Instrument und the note secure:d Ihemby nut �"
<br /> �%�.�:.•� •�• �� . i 1 or insurnnce under the National Houefn Ac�within 8 �at� from the -
<br /> ^ s,.� be el�ib e f B
<br /> ;.�3:,�.. - � date hereof,l.ender may.at its option and nawithstanding uny�hing in Puragraph 9,reyulre immediute puyment in •'"'
<br /> ' �'�"�� _�,-• r:+�i�-• full of atl aums securcd by this Sc�urity Inslrumont. A wtiuen staiemen�of uny uutho�ized agent of�he Secrelury
<br /> �''h'� ,'�`�'"`��° datad sebaequent to a �at� from d�e dule hereof,declining to i nsure Ihis Security
<br /> :! .,.`. ,�•:.,;;;;;
<br /> , �fy�;.�;;,�.:_ •,,F';;,;t�,�;.; Irteuumeot and the note secured theneby,shall Ix►dacmed ronclu�ive proof of xurh ineligibility. Notwithstnndin$ - -
<br /> • 'z.'.�x . '`' the forrgoing,thiw option may nat be ezercie,ed by Lender whcn�hc unuvuilubiliry of inaurance is wlely due to
<br /> �� ���'•'�•� L.ender's failure to remit a mortgage insurance pramium to the Secmlary.
<br /> 't�:f" . �..:..,
<br /> .�, � 10, ReineWtement. Bornawer bn.s a right to be rains�ated if Lender huti mqufred immediptc pay�nent in full becuuse
<br /> '���' •. • ' of Borrower's failut+e to pay en amount due under tho•Nol¢ or this, Security Inatrument. This nght up�lic4 even after
<br /> .�,•.
<br /> =:'•` . � �•• , - forcclosure proccedinga nne inytiwted. To reins�ate tha Sacurily In�trumen�. Borrower shall tendcr Gn a lump sum ull
<br /> .��;—__ , amounts r:qaitrd so�sing Sorr�+�er:;sccauat c�rmn!!nclUding,to tne eslenl Ihey nr!��hli�nti�nA af Bortower under�his
<br /> � , ��,��'`�`�` •` Security Inatrumcnt,forecloaure coxt�,�und reaconabla and oustomary unomcys'fcrs und expenscti properly t+ssuciated with
<br /> ,'�,,. .,
<br /> ,•..• • 'f��'��''�" 1he Poreclosune proceeding. Upon reinxtatemem by Bormwer,this Securiry Ins�rument und the obligations that it secures
<br /> . �;�,°,,,;�^;-.'•.,,�,ti�;'. • shall remain in effect as if Lender hud not rec�uired imm�dlatc paymem in full. However,Lcndcr is not required to�ermit
<br /> ;. +�'•�•�,,.�,;i:::•;�.:'�� .:,, reinstatement iF. (i)Lend�r hns uccepted remstalemam ullcr the c�mmencement of foreclowure pruceedings with�n two ;
<br /> •�• . •.:;s°;,,:'a•; . yeurs immed[ntBly preceding �he commencement of u uumcsm for+eclosure praceeding, liil relnstaternent will preclude
<br /> � �� �: � ��;;� .;p.• , forecloRUt+e on dlffercnt grounds in the future,or(iii)rain�te�emen�will udvc�ely uffect the priadty af the lien acated by
<br /> • . �:t y;;. this Secur�ry[nxwmcnt.
<br /> ' • ' , Il. Borrower Not Released; Furbearance by Lender Not a Wafver. Ex�ension of the tirne of payment or '
<br /> • • modification of wnonization of the sumx secured by this Security Inhlrument grunled by Lender to uny successor in interest � �y
<br /> ' ' of Bortower shall not operate to releu+c the liubiliry of the ori�lnul Borrower or Borruwcr's successor�n mterest. Lender •
<br /> : ��� � shull not be�qui�+ed to commence proceedings ugam.r•t an?�su�cessur in imerest ar refutie lo ex�end ti me fa payment or ' "
<br /> ' otherwise modify amonixation of Ux sums ,ecureJ by thiK Securi�y Ins�rument by rearon of any Jernnnd made by the
<br /> ����'' originAl Bortower or Borrower s�uccesson in imenest. Any fi�rl�anux:c by Lender in exercising uny ri�tM or remedy xhall
<br /> ` not be a walver of ar preclude thc exerci�of nny rigM or rumedy.
<br /> ,�, ; 'i�� " '' 11. Succeasura and Assigns Bound;Join1 and 5ipvoral Liebility;Co-5ipners. Thc covenan� and Agrcemenis of
<br /> f��: ��,-'•:' `., ti�. . this Securiry[nsirument shull bind und lx:nefit the�ucce�ron und atiwignti af Lender suid Borrower,subjrci lo the provisions
<br /> ',.., f _ , ,c•'`.`•:�;, `,_ of Paragraph 9.b. Borrowcri. covconnts und ogrcemomn shall br joinl und xrvcrul. Any Borrowcr who co-signs this
<br /> `� � '::::n SecuMry inntrument but du�:s noi execuic the Noie: (a)i�.cu-si�ning lhis Securily In�mim��ot.�nly �n�nrtFt�ge,grunt and
<br /> ' '''�'' convey thnt B�mc�wer w intcrc�t in Ihc PmExrty under�hu�om��:of Ihiti Security Inxtrumrnr,(b►i�not pnr�onully obhgs��ed to
<br /> .�, puy thc sumx sccured by thiw Srcurity In,trurnem:zmJ lu)u�nec�th�u Lrndcr and an�-��thcr B��rrowrr may Agree Io extend,
<br /> r" . � , , madify,forbecu ur make ony accommodutiom wilh rcgurcl lu Ihc tcrm+uf Ihis Serunly In,trumenl or Ih�Note wilhoW thsN
<br /> ' Borrower a conncnt.
<br /> � 1J. Natieea. Any nuticc w Borcower provided for in thia Sccurily Insirumrm .hull tx��tiven hy delivering it or by
<br /> .••� muiling it by Gr.t clus4 mail mileti.r upplicable law n:yuin�x use uf anodier mrilxxl. Tl�r nu�ice rhall be dimcled to Ihe
<br /> � �.,. x .. Property Add�ts�or uny�nhcr addre�,Bexmwer Jc�ignuta�hy nn�ice a►LrnJ�r. Any nutice to Lrnder+hull bc Fiven hy
<br /> firsl class muil to L.end�r: aJdress ,tated hcnin or uny nddnnrs Lcndrr Jr+i�n;ilr� hy nutirr io Durrowcr. Any notice
<br /> �;. + � �rovided for in Ihiy Security Intitrumcnt.hull Fk decmed�u hu�•c lxen�iven ta Bom��vrr or Lenckr wlxn given as provided �
<br /> �; ' m this puragraph.
<br /> p 14. (ioverning I.uw:Se��erability. Thi�Scruriiy Inrm�ment ,hull h�govrmed by Fedcrnl Inw und thr luw of the �
<br /> � : ";,��•.:�: Judsdiction in which Ihc Properny i�I�xuted. In tl�c eve�u diul:�ny pn»�isinn or rluuse of this Srcurity Instrument or Ihe
<br /> '� �� , � Nole conflicl:�with upplicuMe law. �urh ronflicl shul)nut atrrct other provi.ionti of Ihi� Cecuriiy Instrumcnt or the Nnte �
<br /> � which cun 6e given eftec�wiihout the rnn0icting pn»•ir�iun. 'li�thir.end thr provi.iuns oT thi�Serurity In�trument and the ;
<br /> �� Note utc decluntd lu ht�xcvcraBle. � .
<br /> ;�d�. +•` " 15. Borrowcr's Cnp�v B�mower shall bc given one cunli�micd cup����t'thix Scruri�y In.trum�nt. ,
<br /> �•�` 16. As.Qignmant uP Rents. Burtuwer unconditiomtlly:irsignn anJ iran.fer.tu LenJrr ull�he rcnt.:uiJ rrvenuc,of the '
<br /> � • .;;,•.'i'. � Propeny. Borrower authurires Lendcr or Lender�agemti lo collec�tNc rem.und revcnurs and heRby di mcts c•rch trn�nt ot' �
<br /> � � ' �� the PropeRy ta puy thc rentx tu l.eoder or Lendcr's up�ntn. Huwevcr,priur to LenJcr+notirr iu Barrower uf Borr�wer's •
<br /> ,; . ' � ;� �•�:'�,���� breach of qny covenunt or u�rcement in the Security In,uwneni,Borrt�wcr shall rullerl und rcccive ull irms und revenue+of '
<br /> 5` `+�4�� the Property ue livKlae for 1hc benefit of Lender aixl Bumnvor. '1'hia ussi�tnmcM of rcnls conslitulcs un z;Molute assignr►�ent !
<br /> �.� .•'�(�r. .
<br /> "" �� :!.. ' and na an wsignm�nt for udJiti��nul securiry only.
<br /> ' ti t�w.4.r n:u.,,n.uw•n nf hmn_h�.�t3�u�rnw�+r• (ol yll n.nlc rnrniv�ul hv Rnrrnu•rr�hsdl Ih.• hi�l�1 hV iinrmwer u�trusta.•c
<br /> �..�_..�»___.
<br /> ' fw benefit of l.endcr anly.to be upplicd to thc�ums�ooumd by Il�c 3ccurity Inctn�nxn�: Ib) Lender ahull tie entiU��d to �
<br /> � . i` collect and receivc nll ot'the nents of ihe Pn�peny;s�nd(u)uach Icnunt uf�he I�ni�xny�h�ll puy nll mat�dur m�d unpaid to
<br /> ,�` � .. Lender or Lender's-ugent on LenJer's written Jcmund to tUo�unum.
<br /> �:! ` .. ^ Borrower ha�nut executed any prior ussignment of'U�o mmn and hu� mn und will nu� �xrtinm uny uct lhat would
<br /> � � �, . prcvent l.ender fnnm exercising i�i rights under thix Paru�nq�l� 1(►.
<br /> a
<br /> ' Lender shalt nw br Ryuined to cnter upon,tal;e rumn�l of or mnimuin�hc Pm�xny Ixli�m ur oftcr giving notice uf �
<br /> ���, breach to Borrower. HuwQVCr,LcnJcr or u judici�lly up��inled n.�eivcr mu►•do,u ul a�ry�lirne Iher�i�u brearh. Any
<br /> ' Applicwion of rentH shull na cure or wuive uny del'�ult or i1'vc►Ifdulc wiy i►Ihcr ri�ht ur nmrdY of Lcmlcc Thi.a„ignmcnt
<br /> ��'` • of renta of�he P�+operty shull terminute when thr.Jebt u�ureJ by�hc S�tiurity In.�runxnt i.puid in i'ull.
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