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<br /> ��� 91- 1U8837
<br /> _ _ , pgymenis,which ue rcPeRed la in Purag�p� 2,ur chunge the amoum�f such puyments. Any cxcesa�m�ccecix over an
<br /> `i � �mount�q uhcd ta pwy all ou�ciarxlinQ indebledness under Ihc Nac and thi�Security Inawmem rhall be paid to�he entily
<br /> �` b�ally entiticd tlx�eto.
<br /> 8. Feer, l..ender may colkct fas und dtarQca outhariud by thc Sccrrtury.
<br /> � � ';-` , 9. Grou�ds for Accele�tion of Debt. _—_
<br /> ;Y�'- Ipl De�iuN. Lende�may.except us limlted by regulu�ions i�ued by the Sccrc�ary in the rwc af p�ymem dofwUs,
<br /> .;'' requirc imrtNediate payme�t in full of all sums xccurcd by�hia Securiry los[n�ment if: �
<br /> ��---�.;;,����- li)Horrowu defuuitti by failing tu p•ry in full any monthly p�yment cryuir+cd by Ihi.r Seru�ily In�tniment pdor
<br /> " �''�� to or on Ihe due date of Ihe next monthlY paYment.ar
<br /> ,_t, ,.,. �
<br /> •-:,;1 ���1; .�� lii)Borrower defaults by fuilinQ.far A period of thirty duys�,to perform uny dlxr obligations cantaincd in�hi+�
<br /> - -?-;u �.�` Secudty Insaument. �
<br /> v�{•: ,�__�y. - f b)Sde Without Credlt Approvwl. Lender siwll.if pem�itted by upplicable luw aixt N i�h the priar appmval af the
<br /> —Y -. "' Sxrewry,require immodiete payment in fuil of ali lhe sumx secured by ihia Security In+ttumem if: ��.�
<br /> �"'" ` � '-' li)All or pan af the Propeny.or A heneficial intere4t in a tru�t awning ull or pan of the Propedy, is wld or _
<br /> �n�� �� �1; otherwise transfemd lather than by devise or dcgcenq by�he Borrower,nnd -:
<br /> �;,.��.:.��;,,;.`�::.• (ii)The Praperty is not occupied by the purchas�:r or gnu►tee:�s his ar her princip;+l rcsidence,or the purchwer �a--
<br /> �-r��i.�� •:;`,�� " or gtentce does so occupy the Praperty but his or her credit has nat been opproved in uccot+darce � "
<br /> ---`� . �76w' „---'�_.'.. with Uie reyuirements af the Secretacy. �R�
<br /> ;�1"'•.�,���� " (e)N o W a i v e r. 1 f c i rc u m s l a n c e s occur t h at wauld p ermit Lender ta r e yuire immediute payment in full,but l.ender �;--
<br /> ��' •�t,.�.':_. does not require suchp�yments,Lenderdces nol wtuve its rights w•ith reapect to subseyuent events. �_,�
<br /> ��ri` � , (d)Re�ulatioaa ot HUD Secretnry. In many circumstunces regulations issued by the Secre�ary wlll limit Lender� �••
<br /> __ `'='-'f~���W rights, in the case of�►ayment defaults, to require immedlate payment i� full and foreclose �f nal puid. This �;.
<br /> - -� —�� Security Instrument does not authorize accelerntion or fo�closure iP oa permitted by rcgulations of the S�cretcuy. �_
<br />�—_���"� (e)Mort�age Not lasured. Borrower ugreeg thut shouid�his Security Inswment nnd the note secured thereby not
<br /> _ _ �.��:' .'�' � be eligible fa� insurance under the Na�ionol Housing Act within 8 months from�he ��':_
<br /> �;?.� � .�� date hereaf, Lender may,at its option and notwithstanding unything in Puragraph 9,reyuire immediute payment in
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<br /> -},�,r � full of all sums secuRd by�hi4 Security Instrumem. A writcen stutement of any uu�horized agent of the Secretary �`r
<br /> • • -'•�'"t;�^� ^ dnted subseyuent to 8 mont hs from the date hereaf,declining to inxure thix Srcurily —�
<br /> �a��.
<br /> , �'.,:.�.: .
<br /> ° ' Instrument and tlie note secured thereby,shall be deemed conclusive proof of such ineligibility. Nawi�hstanding �.-�-
<br /> _;•=�_ :t;'-�=:. , . the for�egoing,this option muy not be exercised by Lcnder when�he unavailability of insurnnre is solcly due to ��°'
<br />'�±�l'� ;,,.:�'. • . a l.ender's failure to remit a mortguge insuranc�premium to the Secretary. �-
<br /> "�"''% �°�; ' ' 10. Relnstatement, Barower has a nght to be reinstated if Lender ha,required immedintc pnyment in full becuuse
<br /> -t•'�� �- : of Bortower?c failu�+e�o pay an nnwunl due under the�Note or�his Security Instrum�nt. This right Applies even uf�er
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<br /> __,,� _ ���;,;: :_-_,_ _ foreclosure proceedings are instiwted. 'Ib reinstate ihe Security Ins�n�ment, Borrower shnll �ender in u lump�:um ul
<br /> � . • amounts reqwred to bnng Buuu�er� accouni currcni ierlueliag.�o the extent thty are obli�utions of 9osrower unsles this �'
<br /> '� �~ Security Inswment,foreclosure cos4s und re�sonable and custumary auomey�'fees unJ expenses properly ugsociated with ---
<br /> � '�' '��' the foreclo4ure proceeding. Upon reins�Atement by Borrower,this Securily Instrument und Ihe abligaUans that it secures
<br />=';�"° �'' � • shnll remain in effect as if[.ender had not rec�uired immcdiate paymem in full. Hawever,t,ender is not required�o permit
<br /> i�•:,,.;
<br /> � ��• '��'�'�. . �+einslatement if: (i)Lender hus occepted rcmstatement nfler�he commencement of fareclosure praceedings within two
<br /> � .• • ':.,:i?• . years immediately preceding Ihe commencement of u rurrent foreclosure proceeding. (ii) reinslatement will pre�lude
<br /> •�`-��� t '"� ��^ ° foreclosure on different�rcaunds in�he fuwre,or(iiil refmtatement will udversely uffect the priority of Ihe lien crc�tcd by Q-..
<br /> . ����,;`�Q7�. ..' ��:
<br /> � Ihis Security Instrument. �-�-
<br /> ��`.`.�'}� "'�"" il. Borrower Nat Releasedi Forbearnnce bv Lender Not a Wairer. Extension oi the �ime of payment or —
<br /> `. `� ,...,.,.,:.
<br /> , modificotian of++moni�atian oi the sums secured by th�x Sccurity Imtrument grunted by Lender to uny successor in inlemst
<br /> �' ' of Borrower shnll not operate�o releuse the li•rbility of'the ori�inal Bnrrowc�or Bormwer'.s sucreswr m interes�. Lender �`--
<br />.•� ,' • . shall not be rec�uired to commencr proceedingx agu�n+� any succe�tiur in in�erest or refuce to eztend ume for payment o� ��
<br /> � otherwise mod�fy umonimtion of�he sumx tiecumd by this Security Inxtrument by reason of uny demAnd mode by�he
<br />' � :''` , original Borrower or Borrower's successon in intcrest. Any farbear:mce by Lender in exercising uny risht or remedy shall _ _
<br /> not be a waiver of or preclude the exercise of any right or remedy. __
<br /> •�� ,• �2, Successore and Assi�ns Bound;Jo{nt ond Several Liability;Co-SiRners. The covenunts und agreements of �_
<br /> � ' " _ , this Security Instrurnent shull bind and benefit the succe��on und a,tiigns of Lender and Harrower,subject to the provisions
<br />-- °���'�r '•'�,��;� of Huagraph 9.b. Borrower:coven•rnt. and agrecments xhull br joint :►nd tieveral. Any Borrower who co•sisns this �"�1
<br /> �' � ' Securiry Insuument but doea not execute the Notr. (,�)i+co-.ri�ning ihis Seruriry Instniment only to mortgage,grent and
<br /> ;.:4 ;� • ° convey thut Bormwer c lnterest in the PrapeAy under the Iertns of 1hi+Security Inslrumenr,(MI is not penonully obliga�ed to
<br /> ._ . �• pay the sums secured by ihis Security Imtrurrxnt anJ(c)agneti Ihat Lrnde�und:my other Borrower muy agree�o extend,
<br /> ° modify.forbear ar make eny xcommodutions with rcgurd to the termx nt'�his Secunty In,trument or�he Nute without thu� _
<br /> -- Borrower?c conscnt. �
<br /> :- 13. Notict�s. Any noticc to Borrowcr pravided f'or in thi�Sccurity Imtrument shull lx givrn by dclivcring it or by �_.
<br /> �� �� mailing it by first clati�mail unle.+ upplicable luw nyuireti uu�of anothrr methal. Thc notice shull be dirccled ta the �
<br /> : . , property Addre4s or uny other uddmss Burrower dexignuteti by notice to Lrnder. Any notice to Lrnder shull be given by __
<br /> .'; :: ' first closs mail lo Lender: addrrs,�wtcd hercin or any aJJrc.� Lendcr dr.ignu�cs by nrnicr to Bom�wcr. Any notice --
<br /> . �rovidcd for in Ihi�Security In+trumrnt+hull hc dccmed�o have hern�iven t��Norn�wcr or Lrnder when givcn u�provided
<br /> • m Ihis parngraph.
<br /> , ;�'�+, � 14. (:overninR L�w; SeverubNity. This Srcunry 6i,trum�ni.h:ill Ix go���med hy Fcdcr.�l la�v and Ihc I�K'Of II1N
<br /> • •.'��`:•�•:', )urisdiction in which�he f'roperty ix I�xatc�i. In �he evrm ihat any provi+iun ur rlau.r uf�hi.Securi�y Instmment or the
<br /> `��•� � ' Note conflicts wilh upplicable la���.wch contlict ,hall nut affrrt ather provi.iom of�hl, Security Imuumrnt or the NWr
<br /> • � which c•rn be given eftect wilhout thc contlicting pro��i,�an. Tc�thi�rnit Ihe pm�i�ie�m uf thi�Securi�y Imttument euKl the �
<br /> �.� Note ure derlund to be sevcrabl�.
<br /> . � 15. Borrower's Copy�. B�rrowrr,hall fx given une confonncd cop�•uf ihi.Securiry In.trumcnt.
<br /> �� .;,,,', . 16. Assignmenl oiRenl�. Borrowrr unconditionall�•ii�sigm and�run.fen t�i Lrnder ull�he rcnts und rev�nuc�of the �
<br /> � propeny. Borrower autlwriicti l.cnder�K l.ender'+:�gent.t�colfect tix rrnt.und re�rnuc.:►nd heRby diRCta each�ununt��1 '
<br /> the Property�o pay�Ix: renta to Lendcr or LrnJer+agrnt.. Huaevrr.priur to LrnJer:noticr lu Born�w�er af Born►w�r i i
<br /> breach of any coven;uit or ugrament in the Security h�.�rumrnt.Nnrm�►�r+h:►11 callert and rcrrivr all renl�and revenue,of ,
<br /> the Properly us ttuxtee for th�:twneiit uf Lender•rnd liurmarr. Thi,.i+�ignmcnt of renl�cun.titutc.an uh.ulutc as�ignment (.
<br /> . und not an axs�gnment for uJditlonal,ecurity only. �
<br /> .•�� ..�. ..,ta.. ..�..11..,..�. ,.1 6•• R.. .6..11 1.,h..l.l I.o R.. �n�.�w.
<br /> .. . . II LCfluCf girc�iaiiii�:n.,�.u�.. .. '::`�:5: '.. ......... .^.:'�:'.'.�..� �.."'.`°;'....�.__ ._.�..� ....:'L•yC•S`_.._..." -
<br /> • � for(�enefit of Lcnder only.Iu tx applied�lu�ihe ,um,��YUred b? the tircuritv In.tru�knt: Ib1 Lrndrr�h•rll br emided tu
<br /> ' ' collect und receive ull of thc rcn1,uf thc Pn►Fxrty:and Ir)each�enant��f Ihe F'ruFxm .h�ll pay all rentc due:u�d unpaiJ ta ,
<br /> LenJer or Lender;ugem on LenJer:wnacn dcm:md�o thc trnant.
<br /> ' Borrower hn� not excrutcd;my pri�r a.+i�;nment at�the nnts and ha. n�u anJ will nnt �xrti�rm:uiy�ct IAat would
<br /> " . prevent Lender from ezerei�ing its righl.under�hi.Ruugraph I t+
<br /> Lender+hull not be reywraoJ lu rnt�r upun,tahe cuntr��l ul'ar maintain thr 1'ropen�• txtbR ur af�rr�i�•in�n��ucr uf
<br /> • breuch tu Borrower. Huwever, Lender u�u judiriully up4+uintrd recen•cr ma� du.0 at an� tim� theR i.a bre;uh. An�
<br /> • . npplic•rtion of renlz�hull ni�t cun or wrivc any defuuq i�r m�aliJatr am uthrr rigt�l ar mmctily of t.rnJcr. Thi.a+.�gnmrnt
<br /> of rents of the PropeNy�hull lem►ina�e when thr debt ururtd My the Srcunty InNrumrnt i�paid in full.
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