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<br /> - -- : paymcnta,.wb�tsh ate tefened to tn 2.ar chauga the�amouni of sach P$i��-�Y��t��N��'er na
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<br /> - _-— 9.�Gman�tt�rAcceteraf�a�l��. �
<br /> . (s)lAefault. i,e�der maY cxc�ePt a�limite�f by tegttla�ions issued Dq the Secretary in t�case otpsymen;defautte►
<br /> reqt�e immediaQO paymeat in ti�U of all s�m1s sec�ued hY ttds Sec�dty Insitument i� � ``-
<br />_,. ---- - ° Ei)Boirnaer defatlits by failing w pay ia fuU any moa�r Psyr�eeat re4wmd bl►this Seam'ty lnsfiutteat pitar .,
<br /> - ._�: _.. .. - - -toaratt the duedate ofthe t►eat manthiy Pa]►mt�or _ = �
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<br /> (ii)Bonrowet defa�ilts hy faiting,far a period of ttdrty days,to p�rrt`orm any otfier cbiigati�s cantained'w @�is - -- -
<br />-�_ � -�,.- -� -_ ' S - �s�ume°�' -
<br />-- @�$��ouiCrPdit AQpmva?. Lcuder sbaQifpeaniued bY aPPtiwbte taw and with theprtora�t+nvatof the� -- ---
<br />- Sec�etazy.�quiie i�diate F$Yment in full of all the sums secc�r�d by this Seayuity Tastrumeat i� �
<br />_ � �Yi}Al!or part of the perty.or a beaefiaai interest in a tn�se owning sU or part of the Froperty,is sold or
<br /> ' othenvise tiansf�d{o�ther- tt�an�y devise or de.soeat)bY the Boirower,aad
<br />� ('u)Ttte Aropeity is not aoCUpied by the p�or g�antee as t�is os her principal residenc�os the p�u�aset
<br /> - ' or grantes does so oocopy the Pkoperty but his or her c�edit t�as not 1� apptoved in aroordance
<br /> - . � widt the cequirements of the Sec�etary.
<br /> - -- �� (c)No 6Raives. U c�cccur that would permit Lxader to requue iarme�ate payment in fu11.bnt Leader _
<br />� • dces aot reguitei s�paym i.eader dces not wa�ve its rights wnh c+e�ect m sa6s�uent eveats. v-_
<br /> � �' ta)RegnlatiUn�ot HIID �'secremry m manq�ci�t�ces reguladnns�3b�r ate s�►wju ymit�Lenaerb
<br />- -N�:�°�- ri g M s,in the csse of payiae�defanits. m immediate payment ur fulI aBd.forecloss if u�F. d. 11�is -
<br /> ` r��,,�"`_ ae � Pc�3mdbYm�ati �y-
<br /> ,� w x �. Sesvn�y In�mneat daes not suthutize aooe on or forectacure if aot ons of tts� -
<br /> �;�;���:a�`ai���� ����rtgage Nat I�osured. 8aauwer ag�ees that shoutd this Seauiry In��e�ar•.d dr�nuoe sec�lchereby uot _-
<br /> �s 6e c'$bh'ble for insorance ut�'.r�ihe National Housing Ast within � � from tl�
<br /> °-- ��' - � dste h�o�L�may.at'�es�crpdcm aad nota+ithstanding anything in F�pli 9.requite itamed"�IsaYmeat ia :`' _
<br /> -_�,-��' ,��a `- `-W`_ fq11 of all su��eciued bg�S�iry Ins�umens. A written statemeat�any authorized agem u�tt�Secietary - ---
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<br /> �.:i��-•,t' ������ p ., from the d2te�.�uf�ec2'ming to insa�d�is Security -
<br /> ._ , .•_ Insaument and the note se�:thereby.shall be deemed conctusive pmnf of s�Yx a�dig�'b�7ity. Notwitbstanding = _
<br />— � � the foregoing,this opfion aiay-�not 6e exem�sed by l.cader whea the urrara�'rt�a�'a�utaace is sotely due to,
<br />� � :: .,,. `.; - Lender�s failiu�e ro remit a martgage. premium to the Secnetary. . •
<br /> � . ��� inn,r,�r,,� �
<br />��,,``;'�4`�'r�•�''t".' 10 Retarstatement Boaower has a ng6t tu be nms�red if Lender has c+aqaired immediate pay�eat�fWl because _
<br /> - � ��: � of Bmrowerk failure to pay an amount dae uader ttie•Note or tbis Security Gtssrumeru. 'lbis right ag�5ies even aRer
<br /> - �° °=�"` foiectos�e�Fmcee�linSs az+e iastituted 1'o reinstate the Securiry L�mumeat,Bomnwer shaEt teuder in� lump sum all
<br />" °�`��`.•; ���'� aatovms•rer�i�ed tobring 8oirower�s acoount cument including,to the extent they�are obligascons of fioirower undcr this
<br /> � �`��:�" ';;., Security tusWmeni;foreclos�ue wsts aztd reasonable and customary auomeys'fees aad eaPeases P�P�Y�ociated with
<br /> the fat+eclosnt+e pmo�ng. Upoa tieinstatement by Botrower,tAis Securiry Imscssment and the obligauoas rhat it senues
<br /> � � shall remain in eff��i€Lertder had not m.�uired immediate payment irt fult_ i3r�+ever.Lcader is uot�to pennit
<br />- ,� �.n ,,.� reiastatement iF (i)3.:ender has aocepted remstatement after the commenceecc�af foreclosure pta��s.arittun two u -
<br /> - `' •:.'_�-:,=Y yeazs immediately p�ing the commeacement of a cunent foreclosure t�'aa�in8. (ii) jeinstatemeai w►U preclnde =-- -
<br /> ;>� :Y-�.-, : ,i::'i foreclos�on diffemnt grounds ia dr.�fuwre.or fli)teinsYatemeat will advessety�ffect t�e�of die iiea c�eated by ---—�.
<br /> . :.; ' ,�s. tLis Secuiity Instrumen�. ' • :. • � � �
<br /> ll. Borrower!�s!dteteased; Forbearanc�16�i.ender Pivt a Watv¢os �F�ctensia��a€r&o tia�+af payment or ��
<br /> •=-��,:� modification of amcKts•r,��n of the sums secured bJ�is Security lnca�ument gr�.�,ed by Lender to any sa�or m intcrest �,�°'i
<br /> ' ;�..: _'.. . :. .''_� of Boma�ver ahatt a��erate to nelease the liability aff t�e origicr�t�3orrower itr Borrower�s successar in�t�sest Lender �_,-�� _
<br /> ,i�ii[A_
<br /> � ' , - sIIall not be mq�dtio oommence pmceedings against any saa�eswr ifl Interest or rcfuse to extend time t�r paymenc or •. i.:�=�m„�.�
<br /> • othenvise��y amonization of tRe swns secured by this �ec+cri�p tnstzument by reason of aay demand matte by the , ` ' �'"
<br /> j:' . original Bmmwer or Bomnwer�s successors in interest. Any forte�se.�y Lender m exencising any right or remedy shaU � � � -•"" "=
<br /> ' � ' � " noi 6e a waiver of o:�aciude the exercise of any right or remedy. ' � �``;:�-
<br /> `' 1Z. Sueeessora�nd Assigas Bound;Joia�t a¢d Several LiaDllity;f.�igae�s. The covenants end a�eecnents of " �=`
<br /> . , this Security Insirument shall bind and benefit the smacessors and assigns o f L,e r,,�c an d Borrower.su bjeM ta�e provisions ��" � �'�`' � ����
<br /> j. a . . of Pazagtaph 9.b. Borrower's covenants and agieements shall be joint and s�s-e�al. Any Borrower c�+[w:eo-slgns this : :..;__;':�:
<br /> � , ' Secwity Instnunent but does nat eaecute the Note: (a)is co-signing this Seauity Insm�meQe oa2y to mo�a ge.g�ant and . `
<br /> �.� `�;:"''" convey that Bomnwer�s inrecest in the Property urtder the terms of this Security Instrument;(6�Fs not pe�sonally obligated to , ,; ;�,
<br /> . �",�`�'"•'�" pa y the sums secuKd b y this Securi t y lnstrumen�and(c)agrees that Lender and any otAer BQrrower may agee to eatend. •, _ `;
<br /> �`�� ��'•' '� modify.forbear or make any accommodahons with regard to the tertns of this Secrmty Inswment or thc N�te without that ..�'•�
<br /> � . .`.' , . Bormwer�sconsen� ' ''" ' �
<br /> • 13 Notioes. My notice to Borrower provided for in this Security insmmcent shall be given by detivering it or by �� , �� � �����`
<br /> ' - �E'�' � mailing it by first class mail unless applicable law requires use oi another method. The n�ice shall be ditected to the � ..
<br /> ``' •`...� ' �•; ' Property Ad�ess or any other uddress Bomower designates by notice to l.ender. Any notice eo Lender shall be given by `"�.�;;::.
<br /> •� _�, '=��:� � first class mail to Lender�address stated hercin or any address Lcnder designates by nacice to Borrower. My notice •
<br /> �i " � � • provided for in this Security Instiument shall be deemed to have been given to Botrower or Lender when given as provi de d .
<br /> . ' in this paragrapb. �, � ' ,. .
<br /> . ',: .: . . '�r.� � 14. Governtng Law;SeverabWty. 'iUis Security Instcument shall be govemed by Federal law and the law of Ihe - , � ,
<br /> �.�',�,..
<br /> jurisdiction in avhich the Pmperty is tacated. in t6e event that any provision ar ctause of this Security lnsaument or the .. �
<br /> �.,����. . • . Note conflicts with applicable law.such conilict shall not affect other provisions of this Security Insuument or the Note .
<br /> � �`�'`�R�- which can be given effect without the conflicting provision. 'Ib this end the provisions of this Security Instrument and the :
<br /> �` � •• � Note aze declared to be severable. ' -
<br /> � ?�=:.:',� .. . 15. Borrower's Copy. Bartower shall be givec�ane conformed copy of this Security lnstrumen� �, _
<br /> _ .rt . 16. Assignment af IIents Boaower uncond�n�lly assigns and transfers to Lender all the rents and revenues of the
<br /> " '::� � ;� Ptaperty. Bonmver authorhes•Lender or Lender's agents to colterc the rienu and revenues and hereby din�cts each tenant of
<br /> �: " � �;'`; the Property to pay the rents to Lender or i.ender's�cr,t�. How�er.prior to LenderS notice to Bomnwer of Bomnwer�s
<br /> �X:�- �� '�. ' '�"����.�,`" breach of any covenant or ag�eement in the Securiry tnurumenr.Bo�rower shall coltect and receive all rents sind revenues of
<br /> • '``;`i�." n
<br /> � ,� Ne Aroperty as trustee for the benefit of Lcnder and Borrower. This assignment of rents constitutes an absolute assignment
<br /> - :,� , and not an ess�p,�ment for additional security only.
<br /> • If Lender gives no6ce of bieach to Borrower. (a)all rents received by Borrower shall be held by Borrower ac trustee .
<br /> for benefit of Lender only.to be applied to the sums secured by the Secunty lnstrumen�(b)Lender shall be entided to
<br /> . ' collect and�eoeive all of the renu of the Property;and(c)each tenant of the Property sl�Il pay all renu due and unpaid to
<br /> , � Lender or l.cnder�s agent on Lertder�s written demand to the tenant. �
<br /> Borcower hav not executed any prior assignment of the rents and has aot and will not perfotm any act that wou(d �
<br /> � �.__ ,� _ preveat Lender fmm e�cercisin�its rights urtder this Par�graph t6. ' . ' " ,
<br /> . .�; •.:. . Lender shaU not 6e reqwre�to enter upon.take control of or mainttin the Properry 6efore or after giving notice of
<br /> • bm.ach w Bamnwer. However.Lender or a judic�aUy ap�pointed receiver m�y do so at any time thee�is a breach. Any �
<br /> application of�ents shall not cum or waive any defaWt or tnvalidate any other dght or remedy of Lender. 7l�is assignment
<br /> � . of rents of the Property sha0 terminate when the debt secuted by the Security lnswmeat is p�1d in full. ,
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