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<br /> — --- �ym..-s:t.:.c:�slt�ne�e r!�fe� te in Pr►s�sph 2.ar ciunae the�mount of ruch p�ymenu. Any excw proceod�nver�n
<br /> smountnq uic+ed to p�y dl ouatuidia�inde6kdness unde�the Noto�nd this Secunty lnstnuneiu ctutt be puu to tbe entity
<br /> k�lly entfqod thereto.
<br /> 8, Fca�. Lender rtuy colkct fas and ctiuQer�utl�orized by tho Secrcqry.
<br /> 9. iirounds for Aocelerstiau d LIeM.
<br /> (�t)petaulw Lender m�y.eacept a�limited by reguluions iaiued by the Sorrctnry in the ca:e of payment defsulw.
<br /> - -- - - - roquiro tmmediate payment in full of�H RumR sxured by thic Secudty lnswment if: _
<br /> (i)Borrowu defaults by fuUn�to pay in full�u►y monthly payment roquirai by thls Socurity inauurtKm prior
<br /> to or on the due date af the next monthly payment,or
<br /> - (ii)Bormwer defnult�by failing,for x penod of thiny days,ta peii'orm any oti�er ob�igations contained in this
<br /> Security Instrumeot.
<br /> (b)Ssle Witbomt Credit App�^ovsl. Lender shxll.if permitted by applicable law and w3th the prior approval of the
<br /> "� Socrotary,require immediptepayment in full of all the sums secured by this Security lnsuument if:
<br /> -- — (i)All or put of the Property.or A beneficial intercst fn a trust owning all or pan of the Property,is sold or
<br /> ___.,_�,_�_._.__T_�.r�_.g otherwlse uansfemd(aher than by devise or descent)by the Borrower,and
<br /> (ii)71�e Property is not acupied by the purchaser or grantee as his or her principal residence,or the purchaser
<br /> � or grantee dces so c�ccupy the Property but his or her eredit has not been approved in aecordanee
<br /> with the requirements af the Secc�etary.
<br />._..�,�. (c)No Waiver. If circumstances occur that would permit i.ender to require immediate payment in full,but Lendor
<br /> ------ daes not roqui�+suchpayments,Lender dces not wnivc its�ights wtth res�ect to subsequent events.
<br /> — (d)R�ufatlod�ot Hl1D Sctretnry. In many circumstanccs regulations�ssued 6y the Secretary will limit Lenderl�
<br /> rights. in the case of payrnent defaults, torequire immediate payment in full and focrclose �f not paid. 'tliis
<br /> � Securjty Instrument does notauthorize acceleration ar foreclosure if not pertnitted by regulatiais of ihe Secrctury. -
<br /> (e)Mort�tge Not Insured.Borruwer agrees that should this Security Insttument arid the noto securod thereby nat
<br /> . be eligible for insurancc under the Natio:tal Housing Act within 90 DAY5 from thu
<br /> '•�`"�.' � � 2- � date hercof,Lender may.stt its option and notwithstanding anything in Pwagraph 9,rcquire immediate payment in
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<br /> „ •,.;._ .�, ..•� ,�,r full of all�cums secured by ihis Security Instrument. A written stAtement of any nuthorized agent of the Secretnry
<br /> - ''""�� � ` "- � 1` dated subsequent to 9D DAYS from the datc hereof,declining to insure this Security
<br /> �i � lnsuvment and the note sccured thcreby,shall be deemed canclusive praof of such ineligibility. Notwithstanding
<br /> ' �. ��'`?• a : the foregoing, this option may not be exercised by Lender when tt�c unavailabiliry ot insurance is solely dua to
<br /> . ,,..:4. ,. ,.,.
<br /> � �� '� I.ender's failure to remit a mortgage insurance premium to the Secretary.
<br /> �, :,�, 10. Reinstatemen� Botrower has a right to be reinstated if Lender has required immediate payment in full hecause
<br /> „�`r" _ of Bom►wer's failurc to pay an amount due under the•Note ot this Security Instrument. 7fiis right upplies evon afwr
<br /> - __ � fo►cclosurc Qroccedings are instituled. 'Ib reinstatc the Security Insttument. Borrower shall tender in a lump sum all
<br /> � �'•`•Y'""�'r' �� amounts r uired to brin Borrower�account current includin to the extent the are obli ations ot borrowar unda�chib
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<br /> • � ,yyu„�,,+ • Secucity Instrument,foreclosure cos�s and reasonnble and custamary nttameys'fees sind expenus properly ar+saciated with
<br /> • the foreclosure proceeding. Upon reinstetement by Borrower,this Security Instrument and the obl�gat�ans that it securcs
<br /> , ���.,�: �``'' sh�ll rcrosun i�effect as if Lender had not reyuircd immcdiute payment in full. However,Lender js not required topcRnit
<br /> �"+ .�.-�.�•• reinstatement if: (i)Lender hus accepted retnstntement after the cammencement of foreclosure proccedings w3thin two
<br />' ` ,�"�'' " years immediatcly preccding the commencemcnt of u current fareclosure �raecding, (ii)rcinstatement will priecluda
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<br /> . s•�•��•••�••�;• foreclosure on different grcwndc in th� futurc,or(iii)reinstatement will adversely affect the pnority of the lien aaanted by
<br /> � ::.- ',•.,:,�ti;,;:• : ^ this Securiry Instrument.
<br /> .,,,,,�,,.,:.,.,�� ,;,, ." 11. Borrower Not Reles�sedi Forbearance by Lender Not a Waiver. Bxtension of the time of pwymont or
<br /> _. ,�;o.,,���. ,� _. modification of amattizatian of the sums secured by this Sccuriry Inxtrumcnt granted by Lender to nny suceessor in intorest
<br /> � �.;�,...�;,:,.;,:�, . of Borrnwcr�hal!not operate to reka.�c thc liubility of thc original Borrowcr ar Borrower� sucressor m interost. Lender
<br />_— .,� � ^^ r� shell not be rec{uimd to commence proceedings aguinxt any successor in interest or mfuse to extend time for paymunt or
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<br />-.wa� .�„7,�a:.-•, •'a�`� otherwise modify amorti�ution of ihe sums xecured by thi, Securiry (n�trument by rea�on of any demand madc�by tha
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<br /> _,.�'�"�,;:;�,�c�;;: original Borrower or Borrower's succexson in intercst. Any forbearnnce by Lender in excrcising any right or mmody rha
<br /> � . . not be a wniver of or pmrlude the eacrcise of nny right or rcmcdy.
<br /> _' "`�`� � ' 1Z. Successors and AssiRns Bound;Joint and Several Liability;Co-Signers. 'll�c covenants and agreemcnts of
<br />""' : '��'�''•' •�' this Security Instrument shall bind und lxnrfit tha succcsson suid assignx of Lender und Borcowcr,subject to the prnvisians
<br /> r••
<br /> ' ' � � ��""� 3��� of Parugraph 9.b. Borrower's covcnants and ugrcemcnts shall tx jomt and scver.�l. Any Borrower who co-stgns this
<br /> •;��':�� ,c,r�,�•r3....�a,„�:a,:. Securiry Instrument but does not execute the Note: (u)is co•signing this Security]nsirument only to mortguge.grnnt and
<br /> �.`S''.��.;,�. :';:. ., convey that Borrawer ti intcre�t in ttic Pro�x:rty under thr tertnz nf thi,Security Instn►ment;!b)is not penonully obligntcd to
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<br /> a,,,,,, , ., pay the sums secumd by this Security 1n�trument;und(c)agrte�that Lender und•rny other Borrower muy agree ta extand,
<br />- -"'"�'f�'� � modlfy,forbcur or muke uny uccommcxiaticros with regard to the tertns of this Security Instrument or the Note withaut that
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<br /> • � Borrowcrl conxent.
<br />°—�. .�' ;; �- 13. Notices. Any notire to Borrower provided for in this Security Instrumcnt�hall tx given by delivering it or by
<br />- �•��`� . � mailin it b first cluss mail unleu:► I�wble law rc uires use of anothrr methai. The na�ce shatl be direcicsd to thu
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<br />� °;;, Pcoperty Address or uny other addnsti Borrower detiignntes by notice to Lendrr. Any notice to Lendrr shall be givesn by
<br /> �;;�� ���.;��,,:;;: first clacs mail tn Lender's�ddmss statcd hemin or any addrcs, Lrnder dexignatr. by nutirc tu Borrower. Any natice
<br /> `' •��• provided for in this Security Instrument shall be deemed to huvc bcen Fivcn ta Borrowcr or Lcnder when Fiven as pmvided
<br /> _,.�!:�;�-�=�: in ihis ara r.► h
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<br /> �_ti� 14. Governing 1.Aw; Severnbility. Thiti Securiry Instrumcnt shull tk govcmed by Federul law und the IAµ•of the
<br /> jurisdiction in which thc: Property is located. In the event that uny pruvision or rlausc of this Security Instrument or thc
<br /> —" �'''.{ �' , Note conflicts with upplicable l�w,such contlict�hall not aFfect othcr provixiun+of this Security Inxtrument or the Nnta
<br /> -"�., �:x�.�� ��r� which can be given effect without�he conflicting provi,ion. To thix end the provi�ions of this Security Instrument and th�
<br />`_`+`' Note ure dectured to be scverable.
<br /> �'' IS. Borrower's Copy. Borrowc r shull bc givcn ouc confornicd copy of thi�Scruriry In�trumrnt.
<br /> '-'"� ___ 16. Assignment ot Rents. HoROwcr unconditiunully assigns und transfcr.to Lcnder all ihe mnts and revenues of the
<br /> -- ProExrty. Bormwcr uuthorizes Lender or Lendcr's ugcnts to collect thc nnts und rcvcnucs and hcreby dicects cach tenunt of
<br /> — --- the Property to pay thc rents to Lender or Londer's a@cnts. Nowever,prinr to Lcnder's no[ice to Barrawer of Borcowcr�
<br /> breach of any covenunt or agreement in the Security Instrument,8nrrower shull collert m�d receive ull rents end revenues of
<br /> the Ptoperty as trustee for the bencfit of Lendcr und Borrower. 'i'his Assi�nmcnt of mnts con�titutes un absc�lute assignmenl
<br /> -
<br /> nd not an assiQnment for additional securitv onlv.
<br /> If Lender gives notice of breach to I3orrower. (a)•rll rents received by Bortower shnll be netd ey borrower as auscae
<br /> for benefit of Lender only,to be applied to the sums secured by the Security Instrument; (b)Lender ahall be entitled to
<br /> collect ancl receive all of the rcnts of the Property;and(c>each tenant of the f�roperty shull pay ull rents due and unpaid to
<br /> Lender or Lender�s agcnt on Lenderk written demand to the tenant.
<br /> Borcower h�.c not executod any prior assignment of!he mnts und hss.w not and will not perform any act that would
<br /> prevra�t Lcnder from exercisin�its rights undcr this Paragraph 16.
<br /> Lendcr shall not be r�eqmrcd to entcr upon,takc control of or mainta{n thc PrcWerty beforc or After giving noticc of
<br /> breach to Borrower. However.Lender or a judtctully ap�ointed mceiver muy do w ut++ny time the�e is a breach. Any
<br /> application of rents shall not curc a watve�ny default or mvulidate any other right or mmcdy of Lender. This assignment
<br /> of neiuc of the Property shall terminue when the debt secumd by the Security inswment i�paid�n full.
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