|
. .-...- -( . L.✓-..
<br /> '- Yn�
<br /> .. . i:"�"•' r'i r�'rS-_.
<br /> � ���.9'��I�.i.. •
<br /> I ` `�`�:.°�. :.� _ . .. ..�
<br /> � . -' . --
<br /> �_ r
<br /> 91_ 1 u8834
<br /> +. paymenta, which ore rckmed to in Parag Z,or changc ihc +unount of such payments. Any earesa Emacceda over an --
<br /> , �mount rc4uired to pay all out�tandin�indebtednew w�der thc Nac and thi,�Security Insqumeru cfudl be pdd w the entiqr
<br /> •'„ (C�BUy CllllllOA lIICRtO.
<br /> :�" S. Fea. l.cnder may collea fees and charges outhoriud by thc Secrctary.
<br /> :_ . � � :;,�, 9. Grouads for Acce{a�tion of Debt.
<br /> •(a1 DeT�ull, Lender may,except as limited by rcgulatians isaued by the Secretary in the case oi payment defwlt�,
<br /> a,;...�-...���c:w require imm�diate payment in iull of all sums secured by�his S�rurity Inrtrument if: -
<br /> ° ' '• (i)Botrower defoul�s by folling to pay ln full any monlhly paymem required by thia S�xurity Insirument prior L
<br /> � r :� w or on the due date of the next rnonthly payment,or
<br /> - �;�•�,�; ';1 . (ii)Barower defuul�by failing,fot a penad of�h�Ay days.to perfium any aher obligations conlained in this �
<br /> Security lnstrument.
<br /> v x' � Ib)Sde Witbout Credit Approval. Lender shall,if permitted by applicuble luw and wi�h the pricx approvo!uf U�e �v
<br /> __ � �e1ary rcquirc immediate paymcnt in full af�II the sums recured by this Se�:uriry Instrumcnt if: �t�'-
<br /> -�•.°l,��-; '�,�':-�; (i) All ur part of the Property,or a beneficial interest in a trust ow�iog t�0 or part a f t h e P ro p e r ty.is so l d or ==i-=
<br /> � *M�• • ahenvi+e uunsicrted lother than by devise or descent)by�he SoROwer,and �±�-
<br /> A'�•��' - �ii)71ie Property is:not oceupkd by the purchascr or grantee us his ur her principal residence.or Ihe purchaser �,:�:
<br /> ___ _ :_,.�rt;;.� ..::, or gmntee dces so occupy �he Praperty but his or her c�edit hus not been approved in xcordance --
<br />_� ,. ,:...'"` � with tbe rcquiremen4s oi the Secretary. --.
<br />- �� ' r,�`. � (c)No W�Iver. If circumstsinces occur thac would permit Lender ta requi�e immediate payment in full,but I..ender
<br />���_.-�.'�:-..- . doesnot rcquire suahp�ymems.Lenderdoes not waive its rights with respec�ta subsequent events.
<br />--- '��". .. (d)Re�uWiau ot NUD Secretary. in many circumstunces rcgulatians issued by the Sec�+etary will limit Lender�s �Y y
<br /> ��_; t��'�?�:..;•,_:` . ri hts. in �he ca+e of a ment defaults, to re uire immediate payment in full and for�eclase if not paid. This -_
<br /> *^ • �.p.`-` S curity Instrumem doeg not authorize acceierou�on or foreclosurc if nut pe�mined by regulations of the Secretery. �-
<br />�-�•;.-�i;: y . �-
<br /> �..�..� le)Mortgage No!Insured. Borrower afi�+eees that should this Security Instrument md tlie note secured�hereby not _._
<br /> 't�!—��""�� • be eligible for insurance under the Naliorwl Housing Act within th fmm�he
<br />--'-���,�,�,� ' date hereof,L.ender may,at i�s option and notwi�hstanding su�ything in P+Biragr�npfi 9grequire immediute payment in
<br /> u
<br />� � r:.�
<br /> "_�_'"�"p�' �} ' full of all sums secured by this Security Incnument. A wrinen stutement of uny authorized agent of the Secrepuy _':<:_
<br />_ _ duted subrequent ta 8 m�o it�hs from the date hereof,declining to insure this Securiry •�:.
<br />�,'.�`; 'r�� ''� ""�°� Inshument and�he nwe secu t ereby, shnll be deemed conclusive proof of such ineligibility. Notwithstanding =_-
<br /> e,.-`=
<br /> ., �' ' .. �he foregoing,this option muy not be eaercised by Lender when the unuvailobility of insurs+nce is sotefy due to vT
<br />- . Lender's fuilure to remit p mortguge insursuice premium to the Secretury. �°-'J
<br /> �,� ; � 10. RelnsfAtement. Borrower hns a right to be reinctatr,d if Lender hus requited immediwe payment in fult because �
<br />��'�� �'� , of Borrower:s failure to a un nmount due under the�Notc or thic Security Inslrument. This right applies even ufter ---
<br />--= _- ._:i'bs-..�.0.,;;!�a.`:..• foreclosure proceedinR+ �instiwted. 'Ib reinstnte the Securiry Instrument, Bomower shall tender in a lump sum oll
<br /> a�-
<br /> � - - -• -. � amounts required to bring Bomower:s uccount currem including,to the extent�hey ure obiigations oi Borrower un�[Cr diia _
<br /> .,;� ' Securiry Insuument.foreclosure costs and teasonebk su�d customary unomeys'fees und expenves properly a+sociA�ed with _
<br /> ' ` � Ihe foreclosure proceedins. Upon reinstnlement by Bomower. this Security Instrument und the ab6gations thut it securcs
<br /> ' i�"� ' • shall remuin in effect as if l.cnder hud not rec�uired immedinte payment in full. Howev�r,Lender is not required to�crmit �
<br /> • � �� � reinstatement if: (i) Lender hac accepted rems�utement aGer the commencement of foreclosure proceedings withm two =
<br /> ' ° yeius immediately preceding the commencement of a current foreclosure pmcetdi�g. (ii) reinstatement will preclude -•
<br />_ � ,. •• foreclosure on different grounds in the fuwre,or(iii)tcinslulement wil) ud��ersely aifect the priority of the lien created by __._.
<br /> ,4;}?�.� f��:. this Security Instrument.
<br /> :• 7: ' � 11. Borrower Not Released; Forbearance b� Lender Not a Waiver. Extension of the time of payment or _
<br /> ,�..'' • �,;� _ • madification of amonizu�ion of the sumx secund by this Security Inctrument gmnted by Lender to ony successor in interest �_-
<br /> . ,;,, of Borrowershall not opernte to releu+c thc liobility of Ihc ori�msd Bnrrowcr or Bormwcr's tiuccessor in interest. Lender �,__
<br /> �'t;`.;; ' shall not be required to commence proceedings uguinsi an�succes.ur in intert:til or refux�to extend time for payment or
<br /> L' • � otherwise modify nmortiwtion of the sums ,ecureJ by thi. Suurity Insuument by �rason of uny demand made by the
<br /> ;:,�. . � original Boriowerar Borrower's succexsoec in in�erctt. Any for6eur:urcr by Lendcr in exercising uny right or rcmedy shWl �=-
<br /> ' ' ° y .. :'�� noi be n waiver of or preclude the exerci�of any rigM or remcdy. �_---
<br /> �• � �'!:: 12. Successors�nd Asvigns Boundi Jolnt and Several Li�bility:Co-Si�ners. The covennnts and agrcements of �
<br /> • ' � ' tt�is Sc:curity Instrument shull bi►Ki and t+enefit the successon and ussigns of Lemlcr and Bormwe�,+ubjeet to the provisions �''"'
<br /> � � • • of Pa�agraph 9.b. Bormwcrti covennnts und ngrecments shnll be joint und �cv�rul. Any Borrower who co-s�gns this -
<br /> �� � Securi�y Inwument but daes not execute the Note: (al ix co-signin�this Security Instrumen[only to mortguge,�ant nnd �A.,.,
<br />-_,�.,:;�„r ' � convey that Borrower's interest in the Property under the terms of this Securiry Imtrument;lb1 is no�personolly abligated to
<br /> : <' �i,; � • � ';`�•• puy the sums serured by this Security Instrument;nnJ lc)ugn:es�hat 4ender nnd wiX o�her eortowcr muy uIIme ta extend,
<br /> .:+,;�+�, .,._ �� L . '''' madify,forbeAr or make any uccommadations with rc�tard to thc�erm�ni'�hi�Serurny Instrurnent cx the Note without that -
<br /> = ..-: Borrower's coment. -�:.
<br /> Y� � 13. Notices. Any nntice to Borrower provided far in thi�Security InstNment�hull b�given by delivering it or by �
<br /> `'��,�,i � '' mailing it by fin►clu,.mail unletis upPlicablc law reNuires u.c uf another nxthal. Thc notke shull be direcled to thc
<br /> � -��� '',. Property Address or uny o�hcr ndJr�s+Borrower dezipnates by notice�o LrnJcr. Any nuticc to LenJer�hall bc given by �
<br /> � • . fint cl�.sx mail to Lcndcr:uddrex. xlated herein or uny •rddrex� Lendrr dr.ipnalr� ny noticr to Bortower. Any notice
<br /> ' � • .`:y?_ Qrovided for in this Scrurity In.lrument shnll tx deemed�o huve Imrn Eiven to Horn�wrr ur l.endrr when given as provided
<br /> ' '.: in�his paragn�ph. �..'�I
<br />- , " 14. 4overnbR La�v;SeverAbUity. Thiti 5ecurity� In.trumrnt shall 1k gov�mcd hy FrJrr•rl luw�nd the luw of�he ��•::,�
<br /> � �urisdiction in whirh Ihc 1'ro�x:rty i.I�x•rtcJ. In thc rvcm ihat any provi.ion or rlau�c ot this Srcurily Instrument or Ihc •
<br /> ote conflicts wiih applirablr I•rw, wch conflirt �hull n��t ufl'cri ulher pru�•i.iom��F thi.5ccuriry In+trument or the Note
<br /> '. � which cun be given effect withom the con0ir�in� pmvi,ian. 'li�thi+end�hr pn►vi�iun���(thi.Serurity Instrument tutd the
<br /> Note um dcclurcd lo bc�cvcrablc.
<br /> . � I5. Barrnwer's Cupy. B��m�wcr shull Lx giv�n unr c�mfi�mi�J rn���nf thi+Scruriiy In.�rumrnt. �
<br /> ��;,`\�s , • ` 16. Assignment ut Rentx. Borrow•cr unconJitionall��a+.i�n.,md tran.frr,w LrnJrr ull the nnts:u�d revrnue�of�he
<br /> �.:�..,,: • F'ropeny. Burruwer�whorir.ex Lrnder ur Lrnder�ag�n1�tu cul Iec�thc rcnt.onJ rr�enu�.und herchy dirnrts�acb tenant of
<br /> �� . thc F'roperly to pay Ihe rem+to Lrnder ur L�nder�agcnt,. Huwrvnr.pnar w l.enJrr;n��tir�tu Biirn�acr nf Borrower: , .
<br /> ;,;� brearh of c+ny covenunt or ugrecment in t}x S�rurit�•In.truuicnt,H�irru��er.hall ri•lle�t and rcccive ull rrnt+und revenur+ul'
<br /> . the Property u�tni+tee for the txnef it of Lendcr anJ Burn►��•rr. '(hi�u+.i�nmrm o1'nnt�cun.tiwtcs an ah�alwc astiignmcnt ;
<br /> < nnd not an arsignmcnt fi�r adJiti��nul xcurit}•unl�•. :
<br /> - If l.ender Nive�notice of bmurh to Burn�wrr: lal all rcnt�nrrived h�� t3orr����cr.hall ne nela Dy Bom�wer a..w.��� '•
<br /> . � for benelit of Lrnder unly,ta Ix appGrd to the .umti��runJ h�• Ihe Srcurit��In,lrum�nr,lbl Lcndrr.hall t►e rntidcd t�� ,
<br /> collect:wd mceive all oi the rrm+�>f thr Pmpen�•;;uid Ir 1 earh tenant uf thr 1'n�pen� �hall puy all rcn�+Jur•rnJ unpaiJ w
<br /> Lcndcr ur Lcndcr;ugcm un Lendrr,.�+•rittcn JemanJ tu the tcnant.
<br /> Borrower ha+ not exeeuted any prior astiiFnment ot'�he rent� :md ha. nut anJ uill nut �xrti�m�•rny uc�tha� wcwlJ
<br /> • prevent Lender trom ezerci�in�its right+wxlrr�hi�P��ragraph 16.
<br /> , • Lcndcr shnll not Ix rcyuind to cnt�r upun, t•rkr r�m�n�l ul or maintam Ihc R�i�xrtq hrti�rr �►r atlrr Eivin�e no�ire��f
<br /> brcach to Borrow•cr. Huwever,LenJer ur u judiciully ap+xrintrJ nrci�•rr m;���Ju,a ut an�� time �hem i.u brc:u:h. Any
<br /> upplicution nf nnt�sh•rll nut curc or K�aivc uny dcfaull��r mvuliJatr an}•uthrr n�hl ur rcmedy ut'L�nJrr. 'I'hi�u.�i�nment
<br /> of rents ot'the Properly zhvll lcrmin•rtc when the Jebt���un�1 by!hc Siturily In.lrument i.pa�J in full.
<br /> ' ���..r,��a���•.�
<br /> „ ;
<br /> !
<br /> . t r
<br />
|