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<br /> P�Ymentr.whicn a�c rcierred co in F+�r��o�C177ut�C lSir wuvi4ii JP cu.S'�pa��scnts. Ast;z.-.;e!��... u ov�r�n
<br /> -- �mountrequircd to pxy dl outrtiu�dinQ ir�de a under ti�e Note and this Secunty Inctrument chplliba pc�id w the endty
<br /> _ kQally entitlod thercto.
<br /> - e. Fea. L.ender rrwy collect fees�nd char�es suthorired by the Secrct+ry.
<br /> '° , 9. Grounds far Accekntioa ot Debt.
<br /> - (�)Defaul� l.ender mxy.except as limited by agulations issued by the Seccetary in the case of psyment defaulu.
<br /> � rcquirc immedfate payment in full of all sums secured by this Secucity Instrument if:
<br /> {i)Borrowcr defaults by failing to pay in full any monthlY puYoicoc re.{uirr,d by this Sccurtry Gutrw�k:nt prior =
<br /> � to or on thc due dnte uf thc next monthly payment,ar
<br /> (ii)Borrower def�ult�by f�ilin�.for a penod of thirty ds►ys,to prrfortn�ny other abliQations contained in this
<br /> - ��•:-.:==��°"� Security Instrument.
<br /> _ - , +� r,� (b)Sale Without Credit Approval. Lender shall,if permitted by applicable law und with the prior rpprov�l of the
<br /> ��> . � �� Secrctary.ra�uire immediatc paymcnt in full of all the sums secured by this Security Insirument if:
<br /> �'°•`•"`• ' -L (i>All or part of the Propert ,or a beneficial interest!n a trust owning aN or p:ut of thr Propeny.is sold or
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<br /> - = L...•�,,,:�w�g--� otherwise tr.u�sfrmeil(uthrr ian by devise or dcsccnt)by the Bonowor.und -
<br /> �:, -::: ,_:.: (ii)'Il�e Property is not occupied by thc purchaser or Rrantec ur+his�x her principal residence,or the purchuser
<br /> �� . .r or grantee does so occupy the Property but his or her credit has not been +�pproved in accordancc
<br /> with the requircmcnu uf the Secretary.
<br /> �"'"•'�� Ic)No W�tiver. If circumstances accur that would permit l.ender to reyuire immediate puyment in full,but l.�ender
<br /> h�° �` dces not e�equire suchpayments,Lender does not warvc iGs rishts with recpect to subscyucnt event:�.
<br /> � �+!h"•�a��!":�v�'' (d)Re�UTAIIoRg of HUU Secretary. In many circumstunces regulations issued by the Secretary wilt limit L.enderk
<br /> . '`•��.�' ���' �� r�` rightx, in the case of payment defaultx, to rec�uire immediatc puymcnt in full and foreclosc if not paid. 'I7�is
<br /> �?:r,�._'�'.�'?'���" Security Instnimrnt due,not uuQ►urize acceleranon or foreclosure if not permitted by rrgulations of the Secretary. -.
<br /> { ° ,� ''1 (e)Mort�ge Not Insured. Bomowcr agcees that should this Security Instrumcnt and the note cccured thcreby not
<br /> ;. : be eligible for insuranca under the National Housing Act within 8 m0nths from the
<br /> �' date hercof,Lender may,at i4s option and notwithstanding anything in Paragrrph 9.rcyuire immediate ps�yment in -
<br /> t'.:�+�� full of all sums secured by this Security Instroment. A written st�tement of any authorized agent of the Secretuy -
<br /> . � � dotcd subsequent tu g pippt�g f�om the date hereof,declining to insurc this Seruriry
<br /> � Tnsuument and the note secured thereby,shall be deemed conclutiive proof of such ineligibility. Notwithstu�ding
<br />;;! .. , the lbregoing,this option muy n�t be exercised by l.ender when thc unav:ulabiliry of in�;urance is solely due to
<br /> � L.ender's fnilum to remit u mortgage insurance premium to the Secretury.
<br />-_ � 10. Reinstatement. Borrower has u nght to be reinstated if Lendcr has reyui�ed immediatc payment in fuU because
<br /> � of Borrower's failurc to puy un umount due u:►der the�Note or thix Security Instrumcnt. This right •rpplies even uf'tcr _
<br />_ -• t foreclosurc procecding+ :uc imtituted. To reinstate the Security lnstrumcnt, Borrower shull tendcr in n lump sum all
<br /> • -- - ------- amounn rcquirod to•bnng Horrowerti xcount curnnt including,co che extent they �ur ubiigutiou,ui'Svjiowci u���iZr this
<br /> '• Securiry Insttument,forcclosure costs and rcatiannUle and customary atromeys'fees and expenser properly assaciated with -
<br /> the foreclosure proceeding. Upon rcinstatement by Borrawer,this Security Instrument and the obligations that it secures
<br /> i shall rcmain in effect as if Lender had not rcquired immcdiate payment in full. However,Lcnder is not required to permit
<br /> • reinstatement if: (i) Lender hns accepted reinstatement aftcr the cammencement of foreclosum proceedings within two
<br /> years immediutely prcceding the commencement of a current foreclosure procceding, (ii> reinstatement w�ll precludr
<br />` forcclosurc on different grounds in thc future.or(iii)reinstatement will adversely affec� chc priority of thc Iwn created by
<br /> this Security Instrumcnt.
<br /> • 11. Borrower Not Released: Forbearance b�• l.ende� Not a Waiver. Extcnsion of the time of paymeni or
<br /> modi�cation of amortirution of the sumx secured by this Security Instrument grantcd by Lender to any succes,or in intere�t =.
<br /> �;, '��� � � of Borrawcr shall not operatc ro mleasc the liability of the originul Borrowcr or Borrowcr's successor in Interest. Lender _
<br /> shult not be requited to rommrnce prc�ceedings aga�nst nny surccswr in intercst or refuxr to extend time for payment or -
<br /> • . + . otherwise modify amortir.ation of the.ums ,ecurcd by thi,Seruriry Imtrument by mason of:uiy demand made by the
<br /> � - original Borrower or Borcower'.s sucresson in interext. Any forhearancr by LenJer in excrcising uny right or remetly xhall �
<br /> not be a waiver of or preclude the exercise of any right or remedy. _
<br /> , 12. Successots and Assl�nc Bound;Joint and Srveral l.iability: Co•Si�ners. The covenunts su�d agreements of _
<br /> ., r`' this Security Instrument sh.dl bind und lx netit the wccetition and uti+ign.of Lender und Borrower,subjec�to the provisions
<br /> of Puragrsph 9.b. Borrower's covenunt.and agrecment� shull be �o�nt und scveral. Any Bnrrowcr who co-stgnx this __
<br /> •L � Security lnxtrument but dces not exrcu�e the Note: (a)ii co-tiignin�this Securiry In,trumrnt only to mortsugc,grant and
<br /> � � convey that BorrowerE intere�!in the Property unJcr thr ternis uf thi�Security Inxtn�ment:(b1 is not personally obliguted to
<br /> • pay the sums secumd by this Securiry In�trument: and(c1 agrcrx thut Lender and uny athrr Burruwer muy agrce to extend, _,
<br /> �� '. modify,fortxar or make uny uccommodations with rcgurd to thc tcrms of thi�Scrurity In�trument o�the Note without that
<br /> � �;�«� � Borrowcr's coment.
<br /> 1�� • • 13. Nutices. Any noticc to Borrower providcd for in thi�5rcurity Instrununt xhall tk given by delivering it or by -
<br /> t ' :: muilins it by fint du�ti mail uttles. appli�uble luw require.u�c of:uiother mcthixi. Thr notice xhall tx directed to the
<br /> � '.��,.,., Roperty Addrcss or any��thcr addres�Bocrowcr designiites by nntirc h�L�nJer. Any notice to Lender shall be given by =
<br /> � � first cluss muil to LenJer� uddrcss stated hemin or uny addns. Lcnder de+ignatcs by notire tc� Bortower. Any notice
<br /> �Y 'ti;,. . ;:..,;,;�, providcd for in this Security Instrument shull bc dcemed ta havr heen Fiven to Borrowcr or Lrnder whcn given as providcd
<br /> ' ���.;':.`'t•. , m this p•rragraph. _
<br /> � ' �'� • • 14. GoverninR Law;Severubillty. 'I'his Sccuriry lnstrumrnt shaU Ix govrmcJ by Federal law und the law of the -
<br /> -�`' � �`"���a;. �`�� urisdiction in which the Pmperty ix lacated. In thr rvent that any provitiiun nr rlauu ot thi�Sccuriry instrument or the
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<br /> „�•� �otc conflict.with applicublc luw, such conflict shall not affrrt othrr provitiion. of this Scrurity Imtrument or thc Notc
<br /> '`�'��:�;������ � which cun be given eftert withnut the confli�ting provixian. 7i�thi�rnd the pmvi.ions ot'thix Security lnstrument and the
<br /> ^'��-�` Note ure declared tn be ticvcrab(c.
<br /> -�� "'•��.w...r�...`..s„ 15. Borruwer's Copy. Borrower shall t►c given one rnnformed copy otthix Sccurity Instrument. _
<br /> ••.•�F•..•.. 16. Assignment of Rents. Borrower unconditinnally assign�and eran.fer+t�•Lendcr all thc rcnts and revenues of the
<br /> _� �c''"^�"':;"": PropeRy. Borrower uuthorizes Lender or Lender's agents to callcrt the rcnts und revenucs und hernby directs each tenant of -
<br /> ..y� the Pro{xrty to pay the rcnts to L.ender or Lender's ngents. Hoa�c�•er,prior to Lcndcr;notice to Bonower of Borrower'ti
<br /> - � �:,,i !p,�;. ` bresch of any wvenant or agreement in the Security In.tniment.Bocmwer sh•rll collect;uid rcceive ull rents und nevenues of ;
<br /> —=--- ---= the Properiy as trustee for the benefit of Lcnder and Borrower. This nssignment of mnts ronstitutes an ubsolutc;tssig�ment
<br /> �� and not an assi�nment for additionat security only. _
<br /> ---,� It LCtWCf$tVlS nOtiCe ot biC�Ctt to 2fOfTOwer (a)Aii rents receivea oy norruwcr�nuii oe nci�i oy nvmrwc� as iiu�icc
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