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<br /> s3- 1oes�sg
<br /> psymenu,which ue referred to in P�ra�raph 2, `a chan�e tho amoum oP auch paymenus. Any a�ceiu procoeds over�n
<br /> �mountroq uired w p�y�II outsW�din� indebtedne r under the Notes and 1hi�3eciuily Inatrumait�6�U be p�10 a llfe entity
<br /> I. le�lly entitled thercto.
<br /> `��;, B. Pl�p. L.ender mQy collect fas and chv�es nutlwriud by�he SeratarY.
<br /> f. (irounds for Aaekradon d DebG
<br /> (U Defiuk. l.mder msy,except as limitod by�rcgulalluns issued by the Secret�uy ln�he case ot paymt.nt ckfaulu,
<br /> ,�� roquire immediwlep�yment in full of WI suma cecurcd by lhis 5ocuriry Instrument if:
<br /> • ,�� ,;. .� ; (i)Bortower defaulta by failing to pay in full any monthly payment rcquircd by this Socurity InKtument prfar
<br /> ' `"` to or an�he due date of�be next monthly paytncnt�ar
<br /> , y P;ir:3alt6%° '
<br /> �`d�' ...' (ii)Bomower dafaul�s by failin��for a period of thlrty daye.to perfarm any aIK�obli�at�an�contained in thir
<br /> � u .r.:., r�..:.,• ,.�.
<br /> 'n;;...:�. � f� �CCU[jIy�IISIRlIIIC11l.
<br /> « . r,: ;�' ',� lb)SWe Witbout Crnllt ApprovW. Lender shall,jf permitted by applicnble law and wi�h the prbr appruval of the
<br /> ��• .•. , . Sxret�y.requi�e immediate payment in full of atl the sums secured by this Secu�iry In.rwmrnt ii:
<br /> " „ .` � 'fi �'` (1)All or put of the Pruperty.or a benefici�l intercat ia a tn�sl owning ull ar patt at�Mt Ptoperiy,is sold or
<br /> ��b`�^''" otherwise transferrod(other�han by devise or descent)by the B�rowcr.aad
<br /> ,' . . ..
<br /> ..:» . � �+'`� (iil The Praperry is not cecupied by tbe purchaser ar grantec ax his or her principal�sidencc. ar the purchoser
<br /> �; ` :' .�:,��r.;.::���.:• . or grantee does so accupy the Pronerty but his or her cradit Iws not been approved in wcordance
<br /> .. i. � � °"�` with the requirements of the Secretary.
<br /> ' :" ' (c)No Walver. !f clrcumstances occur that would permit Lender to require immediote payment in full.but Lender
<br /> ,t., t �..., �., � -�,��_....:a_��
<br /> t . ; . • .,,,�,� doea not require suchpayments.Lender daes not waive�ts�ights wfth re�pecl ta subsequent evenla.
<br />. , .�.� (d1 Re�ubtlon4 of HUD Secretary. In many circumstances regulationa ixsued by�he Secrotary will limil L.enderh
<br />���' � " ���-�^ � �;, �ights, in the casc of payment defaults, to rec'uire Immediate p�ymem in full und fareclose iP not paid. Thic
<br /> , . ,„ Seeurity lastrument dces not autM�rize accelerAt�on or foreclosure if not permined by regul�ions of the S e cretary.
<br /> (e)MortgAge Not Insured. Borrower agrees thot should�his Security Ins�u�al�1he nute ucurcd�hercby na
<br /> • ., be eligible for insurance under the National Housing Act within fram the
<br /> ;• • . �.� . �, date hereof,Lendsr may,at iGs option and ndwi�hstanding any�hing in Paragrnph 9,�uire immediate payment in .
<br /> � �''""' full oi all sums secured b y Instn�ment. A written ctatement of uny authorized agent of the Secretary •°y'���'
<br /> ,- �-:��... y���
<br /> ``'��'�>',;�;�;'v"•<:�"•.; from�he datc hereof,declining to insure t6is Securiry �'
<br /> , dated subsequent to
<br /> . �'" -�st�`•;�;f lnsuumeot and the wte secured�hereby, Shall be deemed conclusive proof of such ineli�ibility. Notwilhstanding
<br /> �_::•y.'s ' , ihe foregoing.this option muy not be exercised by L.ender when the unavuilabili�y of insurance is r.olely due�o
<br /> ; , . Lender fi failure to remit a mortgage insurance premium to the Secretary.
<br /> . l0. ReinAtatement. Bortower hns a right to be reinstated if Lender haY reyuired immediatc payment in full because
<br /> __ of Bormwer!s faiU�m to �ny an amount due under�he•Note or this Security Instn�ment. This nght apafles even c+fter
<br /> �� � ioreclosure ptaceedings are �ns�ituted. To reins�ate the Security Ins�rument. Borrower shall tend�r in a lump sum all
<br /> ' • �:�,, emountx reyuired lo bring Borrower's account curtrnt including,�o Ihe extent they nre obliga�ians of Bornnwer under this
<br /> Security Instrument,fareclosure cos�s and reusonoble and customary uttomeys'fee+anJ expenseti properly ussalated wilh
<br /> . �he forecbsure proceeding. Upon refn.rtatement by Borrower,this Securi�y Imtroment und the abligalions that it secures
<br /> shall remui�in effect av if l.ender h�d nol reyuired immediate payment in full. How�evcr,Lender is nd required to Pcrtnit
<br /> � . �, �' �� reinstatement if: li) Lender has accepted remtitatemem ufter the commencement of f'arectosure praceeding�withm two
<br /> , '"�`."��,• yesux immediutely preceding the commencement of u current foreclo,ure proceeding, (ii) reinstatement will preclude
<br /> ' '. . foreclosure on difierent graunds in ihe future,or liiil rcinstutcment will udvencly affect the priari�y oi the lien cr+ea�ed by
<br /> �., � "� •• this Security Instrument.
<br /> �. . 1 l. Borrower Not Releageds Morbearance bx Lender Not a Waiver. Ex�entiion of �he time of paymeM or
<br /> '.�,, modificution of amortixatiun af the,um+xccurcd by�hj�Security Im[rument gr:�nled by Lender to any successor in interest
<br /> j of Borrowcr shAll not operale to releuxe�he liabiliry af�hc oriEinal Bortowcr or Rarrowcrti .ucces�or in intereu. Lender
<br /> ..!'�� ' . shall not be required to commenee pr�xeedings ug.nn.�any+ucce„or in intere.�ur refuu to extend tim�for payment or =-"
<br /> {',:'�:�1. otherwire modify umortir.ation ot'the sums securcd by Ihi+Sccurity Im�rumrnt by reason of any demand rnade by the '
<br /> � ariginul Borrower or Borrowrr's,uccetisors in int�rr+�. Any Ii�rF+carance hy L.ender in exercixing any right or remedy shull .��.•
<br /> ' not be u wuio•er of or prccluJe thc cxcrcitie of uny right�x remcJy. .r''�
<br /> �` ;� 12. Successors And As.�ign�Bound:Joint and tieve�al I.iabflfty:Co-tiiRners. 'I'he covenan�s und nsmements of .,-,
<br /> .,!.,:� � this Sewrity Instrument shull bind anJ �nefi�th�,ucc�ssor�+md u..ign+of Lrnder und Horrower,aubject to thc provi�ions " j�
<br /> '`•, ,i.;,,�';;!,, '� of Paragruph 9.b. Borrowcr�covenank c+ncl agre��memc ,hull Ix�joint and uvcrul. Any Borrow•�r who casigns this
<br /> , � Security Ins�rumcnt hut does no1 cx�ru�c Ihe Note: lu)i.ro•.ignin�;�his Scrurity In�tn�ment only to mongage,grant And
<br /> • comcy Ihat Bonower's interesl in tlx Pn��xrly under Ihe Ierni.uf Ihi�Securily In�Irumrnl;IM>iti nd penonnlly obligaled to
<br /> � pny the sum�securcJ by thi. Securi�y In,trumcnt:anJ tr1 ugrer.�hat l.enJer unJ an� othcr Bixrnwer m•ry agrce lo extend. �
<br /> ` �, n�uJify,furbear or makc uny uccommixlalions with rcgard to�hr tem�s of�his Srruri�y In.trumrnt or the NMe wilhout thut �, .,.
<br /> ,•,; .•���� Borrowerx ron�ent.
<br /> 13. NuNces. Any nuticc w Harrc�u�cr pruvidcd fnr in thi.Srruri�y In�trumrnt tihall tx Eiven t►y d�livenn�, it or My � ^
<br /> mailing i� by fir.t cl•r,+mail unlr,+appliruhle law reyuims u.r ot�imother nkth�xl. 7'he nuticr tihull be directeJ to the �
<br /> � ,' Propeny Addres�or airo uthrr aJdrc�. Uorrower JetiiEna�rti h�• nusirr 1�� l.c�d�r. Am n�Hi�e tn Lcncicr+hall be given by
<br /> • firtit clo+s mail �o Lrndcr;aJJrr...ta�ed hcrrin ur�n�• u�klrc.. Lcnd�r d��ignatc�h�• n��tire ta Barrower. Any nutice
<br /> ProvideJ for in this Sccurily In.trunxnt,hull hc d¢cmrd to ha�r Ixrn Eivrn to H��rr�►wcr ar l.endrr u�hcn Fivct�r+provided �
<br /> • ' � m thi+prrrgraph.
<br /> ' �� ; .c-.,, �:' 14. (:overnfn�Law;Se�•erability. Thiti Seruril� Imin�ment .hall Fx �u�rrned by 1=edcral la� •rnd�he lave uf th� j
<br /> ' juri.rdiction in whirh thc Pm�xny� iti I�xatcd. In �hc cvent �hat am pn�vi.iun ur rlau+�at'�hi�Securiq•lo�irumen�or thr
<br /> ! . �','���,�I� Nnte conflirtti wilh appli�ahlr la���.wrh runflirt+hall not aflect�nhrr pr�,�i.iun.�d'Ihi,Srruril}�Imirunxnt or the Nute
<br /> ,,,.. .•� , ; �' ':, which cun he givcn rticct withaut thc canflictin�pro��irinn. li,thi.cnJ tFk pruvi.ion,of thi.Sccurity In�trurmnt und Ihc
<br /> . � �� Note ure declareJ w Ix.e vrrahle. '
<br /> '' � _" ' 1S. Burrower's Copr. t3urruwer,ha11 h��.i��rn+�ne conl�,mird�opy uf thi+Seruriq•Imtrument.
<br /> : 16. A�.cignment uP Ren��. Borroxer unr��nJitionally a��i�:n+anJ tran+trr.w LenJrr ull lhc rcnt�und mv��nue+of thr
<br /> Propeny. Borrowcr autharii�s Lcnikr or LenJer i agent+ta roU�rl Ihc rcniti anJ rr�enur.anJ h�reby dirc�t.rach tenant nl'
<br /> . � � Ihe Property ti�puy Ihe rent. to Lrndcr ur Lcndcr:a�.•rnt.. Ho��cvrr.prior to l.�nder:natice t�,Born�w cr��f Bom►wrr:
<br /> brr.ach of:u�y covcnunl or agr�emrnt in Ihe Seruril� In.�rumcnt.Hurr��Wrr.hul!rullcrt and rerci.r all nnt.anci mvrnue,��f
<br /> `L_— �he Pmrcnv nc�ruztec for Ih�Menrlii c•f LrnJer unJ Burn�w cr. Thi.a+.i�nmem at'rcnt.c��n.liwtr+un ah+olut�u.xignment
<br /> und not;ui nssignment for•rddiiional�ccurity anly. �
<br /> •� !�" If Lender give,noticc of breuch to Hum►wrr. �u 1 all rrm.rerr��eJ hp Nurcu��er.hall tx h�ld by&�rrov►•er vti tru.trr
<br /> for benefit of Lendcr only,w bc upplieJ to Ihe +um+ .ecurcJ by�hr Scrunl} In.tromrnt: Ibl Lendrr�h•rtl!x entideJ tu
<br /> , collect and receive all of the�tr�t.ul'Itn Propeny:und�rl cxh tenam��F ihe Ro�xm +hall p�y all rcrn+duc ui�J unpaid iu
<br /> ��' Lendcr or Lendcr y vgent un Lender�wriuen drmand tu�hr tcnum.
<br /> •' � Bormwer hu. not cxecuteJ nny prior u�.ignmem�►f thc r�m�unJ ha. not und a•ill n�n�x Hi�m�:u�y act�hat would
<br /> � . �., prevent Lendrr from ezercisin�it�right+unJer thi�Prr-�graph 16.
<br /> � : • Lender sholl not be reywred ro cmer upon,r.�ke cuntml ut�ur maintain Ih�F'ru�xny txtarr ur afhr Ei��ing nulice of
<br /> � , � bttiarh �o Bormwer. Howev�r.Leiuler or a judici�U� vpRwint�d rcrci�•rr m•ry do.o a1 any umc Ihrre i.a brcarh. An�
<br /> � application of renh+hall nut cure or v►�•rive�ny Jefault ur mvulidalr an�•i�lher right ur r�med)af'LenJ.r. Thi+a.,i�:nment
<br /> � ,. of�nts of tln H�erty�holl tcrtninwe when Ihr dcht xecureci by�hc S�wurity Imwmrnt�.pa�d in lull.
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