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<br /> - _ _ paYma�q•whtch ue r�eiene�S iu iu�:�,-�S� 2,c.-ct.�s�tt�»;ss:a�ss of wch p�ymenu. My excess pr�ceod�over�n
<br /> urwuntrequi�ed to pRy�Il outw�din�in�d�ebtod�ess unde�the Note�uid thls Sacurity ImlrutrieM d�aU be p�id to d�e edi�'
<br /> le�vly eatiNed thorcto.
<br /> !�. Fres, I.cnde�may collect fas and chv�e�autl�orized by the Secrotary.
<br /> 9. tirnunds for AaYk�tioo ot Debt.
<br /> t�)Qafl�ulb L.ender m�y.cxcxpt u limited by nQulatiats iuued by the Secrctuy M the sa�e of P�Y����
<br /> -_��_�� requiro immediatepayment in full of sU iwns xcured by this Secudty Instrumen�t ib �����y��p�
<br /> (11 Barmwu defaults by falling to{+ay in full�ny mauhtY ptyma► nq Y
<br /> - ta or an tha due due of thc next momhly payment,or
<br /> (ii)BQrmwer dafaults by f�ilinR.for a period of thirty days.to perform�nv other obli�ations cawined in this
<br /> — Sxunty Inauumcn� a val of the
<br /> ° (b)S�le VYlthout Credit Approvd. Lender shall,if pasnitted by applicable law and wlth the pri appro
<br /> Sxrntwry.rcquiro immedluo payment in fuU of�Il the sums secwed by this Security Instnu�xnt if:
<br /> - (i)All or put of thc Pmpecty.or a beneficial irttecest In�uust owning all a ptrt of the ProQertY.is�old or
<br /> _"� `� = `_- ` otharwisc uansfcrred(Wher than by devisc or descent)by the Borrower,and
<br /> - (ii)Tha T'r+operry ic not occupied by the purch�ser or g�antee as his a her principal residence.or the puochaser
<br /> — - -- -- -- or granux does so occupy the Property but his or her credit has not been a�proved in accaedu�ce
<br /> � - - ------ wllh the t+equincments of the Secretary.
<br /> (e)Na WAiver. If circumstances occur thst would permit Lender to require immedlate payn'xnt in fdl,but Ler�der
<br /> -� __ - doeA nnt ncquir+c suchpayments.Lendcr does not wafve its rights with trs�ect ta subsequent events.
<br /> -��-�n y (d)Regulallona ot HUD Secretary. In many circumstances regulations�ssued by the Secreta►y will limit L.onder�a
<br /> � , � rights, !n ihe case of payment defwlts, to�uirc immodiate payment ln full and faeclose if not prid• 'Iliis
<br /> , ;, Sccudry Instn�ment dces na audwrixC�.rr�teruuai or foreciosurc if not permitted by rcguleHons of the Serretary.
<br /> . 1 +;.�i la.�::'6..
<br /> r, �j�'O;l�. , �, .,: (a)Mortgage Not Insured. Bomawer agc+ees that should this Securiry Inswment and the note secund thereby not
<br /> �;;:::.�` �'�'��.�=r� �".-•�'`:�° be elfgible for insurance under the National Housing Act w•iihin 8 �pnths f�O"��
<br />�+r�,;.:�,� ?�� ' ._ � data hercof,Lendec may,at its optton and notwithstendireg anything in Paragraph 9,requtre immediate payment in
<br /> -�;�:;; �'�`'�`': • �''""��`''� fuU of all sums securcd by thi�Security Instrumrnt. A written statement of any suthorized agent of the Secretacy
<br />';�,:;i; _ �
<br /> ;,�:';� „�+r�'rY�.4�ha�r:a���;`; dated subr,equcnt to 8 �pppt� from the date he�+eof,declining to insure tlus Secunty
<br /> ;,;.�, , , Tnstcumant and the nae secured thereby,shall be deemed conclusive prouf of such ineligibitity. Notwithstandiag
<br /> �'���� :�y'���,• • . •-�� the fa�+cgaing,this option may not be exercised by Lender when the unavatlability of insurance!s solely due to
<br /> ' ' � .�:,..'::•. • .j Lender ti failure to remit A mongage insurance premium to the Secretery.
<br /> � '�' • � ,.� 10. Relnatatement. Borrowcr has a nght to be ninstnted if Lender has nquiced imraediate payment in fu11 because
<br /> � ���: ' _• �{ of Borrawer� failure ro pey un umount due under the•Note or this Security lnsuument. This right applirs even after
<br /> `•4�'`�' foreclosure pmccedings ar+e instituted. 1b reinstute the Security Instrument, Bortower shall tender in x lump sum all
<br />.«�,:�. _
<br /> `:: :, - - t+mounts requited to.bring Borrowcr!s account current tnetuding,m the excen[zhey a�ooiigatiuns af Bass�u�r us:3er this
<br /> m
<br /> ' , 5ecuriry Instn�ment,forcclosure casts and rcasonuble and customary attomeys'fees and expenses proper�y associated with
<br /> .;.�.. �'" + the foreclasure proceeding. Upon reinstutement by Borrower,this Security imuument and the obl�gations that it secures
<br /> �`• ��" ` :�� vhall mmain in offect�.ti if Lender hud not rec�uired immediate payment in full. However,Lender is not required to�ermit
<br /> _. � � , ;;. ,. reinstatement if: (i) Leoder hus accepted reinstutement after the cammencement of foreclosure proceedings within two
<br /> • yean immediatcly preceding the commencement of u current foreclosure proceeding. (ii) reinstatement w�il preclude
<br /> ''+�:';, -' . foreclosure on diffcrent grounds in the future,or(iii)reinstatcment will advenely affect the prioriry of the lien created by
<br />��'.;I:��•� ' • this Security Instrument.
<br /> ' �'.'.� .� ll. Borrower Not Released= Forbcarance by I.ender Not A WAiver. Extensi�n of the tims of paymenc or
<br /> modification of iimortii.ation of ihe sum�secumd by thir Security In+trument granted by Lender to any successor m mterest
<br />�; ;.:.•.. of$ormwer shull n�t operatc to rcicuxe thc liubility of the original Borrowcr or Borrower;�uccessor in interest. Lender
<br />�� • sfiall not be reyuiced ta commence pr�xeedings ugmnst:uiy xuccexsor in interest or refuse to extend time for pa ment or
<br /> •.;;';,.;,':.
<br />�".. otherwise malii'y amortirution of'the tiums ,ecurcd 6y this Security Instniment by re•rson of any demand m e by the
<br /> t!'. � original Bormwor or Borrower's succes�on in intercst. Any farbeur•rncc by Lender in exercising uny right or remedy shall
<br />`,"���� not bc a waivcr of or prcclude thc exrrrix of any right or rcmedy.
<br /> !;,' .
<br /> ; „ � 12. Successors and Aari�ns Boundi Joint and Several LiabUity;Co-SiAners. Thc covenants and ugreements ot
<br /> - ' this Security Instrument.hall bind and lxnefit the xuccex.on and as,ign�of Lender und Bormwer,subject to the provistons
<br /> ' ' ' of Pnragraph 9.b. Borrower: riwrnunt� and aFrecment� shall lx joint and several. Any Borrower who co-s�gns this
<br /> " Sccuriry lnstrument but dce�not cxcrutr thc Note: lal iti ro-yigning thi�Srcurity Instrument only ro mort�age,grant and
<br /> , °� �''''� convcy that Borrowcr+intcre,t in the Pru�xrty undcr the trrms of thic Sccurity instrument;(b)is not personally obbgated to
<br /> '• ' ; pay the sums secure�d by ihi�Securiry In.rirument; and lr)aFrces thut LenJcr und any other Bonower may agree to extend,
<br /> �•� • , . modify,fort►ear ur muke uny accomm�xf�tions with rcgarci to the te�m�of thi.r• Securiry Instrument or the Note without tt�at
<br /> ' ;:•,.� ,. . Borrowcr ti conxent.
<br /> ' � , ° .` 13. Notices. Any nuticr to Borruwer pr.rvided for in ihis Security in,trument shuli be given by delivering it or by
<br /> �z mailing it by �nt rlutix mail milc.ti applirablc Itiw reyuir�s utic oi unother methai. The natice sha11 be ditected to the
<br /> � �' • Property Addresx or uny�nhcr address Borrowrr desi�:pute.ny n«���to l.ender. Any notice to Lender sha11 be given by
<br /> � � ' � fint c1ASS mnil to Lendcr; �ddms, stuted herein or any addres� Lendcr designat�. by rnxice to Borrower. Any noticc
<br /> j:, '•• •y ! ' provided for in this Scrurity Inxuumcnt shull tx decmrd to haee becn given to Borcawcr or�ender when given a�provided
<br /> ,,;
<br /> .•�'�r � m this parugraph.
<br /> �"•� � �'(;� .� " ' 14. Governin�Law;tieverability. Thi�Srcurity Intitrumcnt tihall br govcmrd by Fed�ral law �rd the law of the
<br /> jurisdiction in which the Proprrty ix hxaud. !n the evrnt thut an�•provi.inn ��r rlause of this Securicy lnstrument or the
<br /> � !; � , Note conflicts with upplicublc law�..uch cantlict �hall not attrrt othrr pr��visiom of thi. Serurity Inswment or the Note
<br /> , . . � � which can be given eti'ect without thr rnnflictin�pruvixion. 1i�thi.rnd thr provisiom ot'this Stcuriry Inswment and the
<br /> �,�;'� � � � Note:�re dcclured to bc ticvcrablr.
<br /> IS. Borro�ver's Copy. B��n�,N er vhall lx�:iven onc ranti�rnicd cupy uf thix Srcurity Insvum�ot.
<br /> FT �.� . ' ib. As�i�nment uf Rents. Borruwrr uncunditionally a�.i�nti and uansfcn to Lender•rli the mnts and revenues of the
<br /> . Property. Bormwer authoriics Lendcr or Lcnder:agcnt.tei cuticct thr Rntti and revenues ac►d tn:reby diri�c[s each tenant of
<br /> ��,;� ; thc Propeny to pay the rcnts w Lcnder or LrnJer:agcnt+. Howevrr,priur to Lcndc�:noticc to Borrow�r af Bor�ower's
<br /> �"'�� , • - � �ti • breach of�ny covenunt or agmcmcnt in the S�curity In�trumeni.8om.wer.haU cullect:uid rereive alt rents and revenues uf
<br /> �:f'-. ?.. �, •� •.;��• - the Property as ttust�Y for the benetit of Lcnder and Borniwer. Thi.r•ussignmrnt of rents constiwtes an absolute assignme�u
<br /> -.ec+r�., � �:,... ,�
<br /> �nd not an assignment for udditiunul,ccurity unly.
<br /> .._u�_�_u�...n....,,......n�n,.�e..r
<br /> - - . If LenGer 6�ves notice of nrearn�o esorrow•er: ta1 aii rems n-�eivc�i oy ovuo..c�ivan a�...n.�+�� w..�^�•—�--.__
<br /> - ,� '�� , -, for bcncfit of Londer only,to be applicd to the �ums ucured by th�Sccunty lnstrument;(b)Lendcr shap be enutled to
<br /> �c� � • � collect and receiva ull of the�t�nts uf the Property;�u�d(c>carh tcnant ot'ttk F'roperty shall pay all rents due and unpaid to
<br /> ' ��� �"° ' '` Lendrr or Lcnder�agent on Lcnder�writtcn demand to the tenunt.
<br /> --_„� �:��,� � ����� � Bortow�er hns not ex��cuted any pricx auignmrnt uf thr rents and h•rr nd;u►d will nnt perfortn :uiy xt that would
<br /> -- ;, . prevent Lender from exercisin&its right.r undcr thiti Pan►graph I6.
<br /> �',�;•.�. •,�. Lender shall not be reywmd to cnter upon.take control uf or m•rintuin the Property before or after giving notice of
<br /> ,. :� brexh tu Bomowor. Howcver,Lcnder or u�udicirlly ap�uinted r�ticivcr may do��•rt:u�y time there is a brcxh. My
<br /> ';,� ;:: application of rente�hrll not rurc or wuive;►ny�kfuult or invalid:ur any wtwr right or remedy of Lender. This�iQnment
<br /> � of rcnts of the Property shnll termiiwte whcn the debt secur��d by thc Security Insuument i�pu�d in full.
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