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<br /> ---. � 91,�- 1u8841
<br /> ---� �— payments.which are nefertad ro in �ph 2,ar ch�n�e Iho wnount of wch paymcnta. Any exce.gs pmccedt over an
<br /> - - -- �tnaunlrcq uirod to p�y dl outctmdin��inde6tednes�wider the Nae an�i�his Secu�ry Insuument sh�U be p�id ta.tho aUity
<br /> - _ - -• -- b�ll entitkd thercto.
<br /> ::'��� 4 Fea. Lender may colkct fces and ch�rRes authaized by the Sarcury. -
<br /> croanas ror wccelerdion o�new.
<br /> -- Ia1 Defaulw L.eider may.exccpt as limitod by rraul�tians iscucd by tho Sc�arctary in�he wic of paymant defaultr•,
<br /> �_: �
<br /> =����'� iequiro immediite payment in(ull of ull sum.w securcd by thi�Security Inswment i :
<br /> �.'��'"� (i)Barower defaults by failing to pay in tull any monthiY prYment rcyuircd by�hia Serurity Inurunwnt priar e�
<br /> to ar on�he due dAte of the next manthlY pnYmeM.or _
<br /> (ii!Bomnwer defAUl�s by f�flin�,for A pe�iod uf ihiny days,lo perfotm any other obligations caatsined in Ibic _�
<br /> --- - ��� Security Instrumen�. --
<br /> -------_--,,,;� (b)3ale Withoat Cndit Approval. Lender stwll,if petmined by applicuble law ur�d with the prior.approval of the `
<br /> Secrctary.roquiK immediate payment in full of All the wms secured by thi,�Security In�[rument iL
<br /> (i)AII or pui of the Propeny.or�+beneficial intrrcst in a uusl uwning ull or part of tIK PrnpcAy.is sald or
<br /> - �-,�:„�-� �� otherwise tronsferrcd(aher than by devise ur dextinq by lhe Barowcr.und -
<br /> -- �" � (ii)The Property is not occupied by the purchu.ser or grantee u.4 hix�x her principrl rexidencr,ar�hv purchaser
<br /> __--«�:.' or grantee does so occupy the PropettY but his or her ctedit tw� not b�en up�pmvod in w�coni�nce --
<br /> ---.-���:•-� with the roquirements uf the Secrctary. .,
<br /> _���A����:;� (c)No Waiver. lf c�rcumstances occur thnt would permit Lender to reyu�re immeilia�e paymem in fuli.but Lemie�
<br /> -..�_� does not require suchp�yments,Lender does na wafve iGi dght�wi�b re�pect to sub�eyuem event�.
<br /> i =�_ (d)Re�ulatioas d HUD SecrNary. In many circumstances regulu�ions i�sued by the Secretary will limil Lenderk ,_
<br /> .�,.� �ights, in the case of payment defaults, to rcyuire immediute psiymen► in full ad forecbsc �f nat Puid. Thir :�..
<br /> --_ ��:�_�� P _.
<br /> Security lnswrnent does not authoriu accelerntwn ur furc�losure if ncx permitted by regulationti of the 5e�retnry.
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<br /> ��,�}�t,�s (e)Mortgage Not Insund. Bomnwer agrees that should this Securky Inswment and the noto se�urai Ihereby na
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<br /> - ���°�;``��' be eligible for insurance under the National Housing Act within 8 montha from Ure _-
<br /> �,��y�,i date hereof,Lender may,at its option wd notwi�hstunding anything in Parpgraph 9,reyuire immediate pu yment in -
<br /> _�—;;'�,'�.: •�:;�.�,'�� ' full of all sums secwed by tfiis Security In�tniment. A written statement of any aulhorized agsnl of the Secretury _
<br /> ��-,. ,;??�,� dated subsequent to 8 months from the da[:Mereof.declining ta incura thiti Security `
<br /> '°°_- ~ �'' � Insttument and�he note secured thereby.+hnll be deemed conclusive pru.�t'af such ineliRibitily. lVntwith�tanding
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<br /> "-�`7=- ''�' the foregoing, this optiom m�y nw be exercixd by Lender when �he unn�ailnbility of insuran��r is xukly due to
<br /> ��•�•y:;'�e ...
<br /> --��'�'•'�?'���x. Lender�s fa�lur�e to remit a mortgage insurance premium lo the Secretuy.
<br /> - `"�'°��`" 10. Reiostatemen� Dort+ower has a right to be reinstnted if Lender has requircd immediate pxyment in full becnuse --
<br /> "�s>i'Yv_:::i�t_
<br /> .��, - of Bonower's feilu� to pAy an amount due under the�Note or this Security Inspument. 'Ihis right appli�r even after _�
<br />- ==�'�=�•� faxlosure proceedinl�s une mstituted. 'Ib reinswte the Security Instrument, Borrower shall teratcr in u lump sum all
<br /> -��''" `,t,�,� : amounu required to bring Bomowers xcount curnent mcluding,to the eatent�hey nm obiiga�ions ui 8urruwrr wnkr thie
<br /> - ��a .t= � -
<br /> � �,.�`:;;.�. Securiry Inswment,foreclosure costs und reasonnble and cuctomsuy attomeys'fees and expenses pmperly nssocialed wilh _
<br />, �� ,� the forcelosure proceeding. Upon reinstatemem by Borrower.this Security Instrument und the obligatianc lhat il secures
<br /> Sr.i� " ,� stiall remain in ef+fec�as if Lender had not reyuired immedia�e payment in full. However,Lender is nat rcyuired ta Permit _
<br />_ -� .�ts,; ��� reinswtement if: (i)l.ender has avicepted re�nstutement aQer Ihe commencement of fareclosure pm�eedings withm two
<br /> .�.�� _�, �r years immediutely preceding the commencement of a current foreclosure proceeding. (ii) reimtatement will preclude
<br />-y`�� �� :�; foreclosw�e on different grounds in the fuwre,or liii)reinstalement will ydversely uffect the priority of the lien cmated by
<br /> - this Secu�ty Inswment.
<br /> �`''�`���'`'�'�° 11. Borrower Not ReleaseU; Forbearance bv Lender Not a W�fver. Extension of tho time of payment or
<br />'�r,;�� ..e� .ly _ f) Y
<br />:::,• g�+�c ti modification of amortization of the sums secured by this SecuritX Intitrument gmnted by Lender to any successor in mterest
<br />-:;�, n.�;,,, r of Bormwer shatl not apernte to rcleuse the IiAbility af the origmul Burrower or Borrower's succcssar in interest. Lender
<br /> '=�K'W..+�...=_, -
<br /> --�,- shall not be required to commence proceedings ugains�any successor in interest or refuse ro extond time for peyment�r =_
<br />'� � 4• !!> otherwise modify umortizution of the sums secured by this Security In�irument by mason of any demund made by the =_
<br />_ ,,,, �;,�_,�;�;,'" original Bomower or Bortower's successors in interest. Any forbearnnce by Lender in exercising my right or rcmedy shull __
<br /> _��__',�'-� �ij_. ., na be a waiver of or preclude�he exercise of nny right or rcmedy. __
<br /> �':� :;; 12. Successors smd Assigns Bound;Jaint and Several Liability: Co-Sip�ners. The rnvenants and agreements of ,
<br /> ' �: � this Securit Instrument shall bind and benefit the successors nnd assign.of Lender nnd Borrower,subjac�ta tha provisione
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<br />,,_�__ ,. :�a-�-. of Paragraph 9.b. Horrower's covennnts ond ogreemenGc shnll 6e joim nnd s�veral. Any Borrax•er w�ho co•s�gns lhis f';
<br /> - , �f � Security Insdvment but dces not execute the Note: (al is co-signing this Securi�y Instrument onl���a martgage,Sr+uu nnd
<br /> _�,;%� _;r�t, '� ..�• convey thnt Bomowerk interest in thr Property under the tertm af thi,Securiiy In.trument;Ib)is nc�t perronally obligAted to _,,
<br />_r;;ri���;.�1; ,,,,. pay the sums secured by this Securiry Inswmcnr,und(c)agrees lhot l.ender and uny rnher BorroH•rr may�►ee to extend, �
<br /> `:.r--�._.,_��� ,. modify,forbenr or mAlce any uccommadations with regard to the temn of thi�Security Instrument or tha Pirne withoul Q�wt =-.
<br /> •<«.�t �-� � 6arnwer�consent.
<br /> -- '�` ' f�.= 13. Notices. Any notice to Borrower provided for in thi.Securiry Instrument xhall be giv�n by delivering it or by -
<br />�� �+����i�t �:T�.';;� meiling it by fint clu.�s muil unle,s upplicnble Iaw reyuircs u.r of unother rn�thai. Thr notice shall be directed to the
<br /> .:� �I �:�„'�"��" Property Address or uny other address Bomower designutes by notice ro LcnJcr. Any noti�ti la Lender�hall be given by
<br /> �, :', first clnss ms+il to Lender's addresc sta�ed hemin ur uny addrr+.Lender de�i�natc� Ny notice to Bormwer. My natice
<br />`. -�- +� .:r Qro�ided for in�his Securiry Instrument shall tx deemed lu huve been given 1��Born�wer or l.ender x•hen given u.provided -_
<br /> m this paragraph.
<br /> �� 14. Governing Law;Severability. Thi.Securi�y Imtrumrnt tihall h gavcm�J hy Fedrru!la�v und�he laa•uf the _
<br /> juriulicliun in which the Property is lacated. In the event that:uiy pru�•i.i��n ur clausr uf thi. Scruriry In�trumenl ar thr =
<br /> � ;if Note conflirts with ap�licable I•rw..uch ronflirt �hall not aftert rnhrr pru�•i�ion. ul'Ihi+ Security In�trument ur thr Nate =_
<br /> ,•1 which cun be given et'fec�without the contlirting provi,ion. 'i'i�thi�enJ�he provi.Mn.uf thi�5�rurity li►�►tn�ment und the _
<br /> ;? Note ure declsued to be uvrrrblr. ■
<br /> � :3; IS. Borrower's Copy. Burr��wcr yhull lx Ei�en�mr ranti�micd ropy of this 5crurity Imwmcnt. -
<br /> • ,;� 16. Assignment of Rents. Bormwer unconJitionally ux.iEn,anJ tramfrn to LrnJer ull the n�nts und mvenueti ot'�he
<br /> i, . Propehy. Borro�ver uuthorin+Lendrr nr Lendcr ti agrnl+tu r��Uect thr rent�and revenucs:u�d hrrrNy Jintit�cach tenunt of _
<br /> the Propeny tu pay Ihr rcnh to Lendcr or LenJer:�gent.. Hawcvrr, prior to Lrixlrr:n��li�r to Burn����er uf Bum�wer s -
<br /> , breach of any covenunt ur ugmrmrnt in thr 5rrurirv Imtrumrnt.Bormwer.h�ll rollcct nnJ rcrcire all nmt�anJ mvenuc.af
<br /> , ' ttie Pivpehy u.trustee for the txnetit af l.rnder anJ Burruw•er. 'fhi.a..ignmcn���f mm.run�tiwte+an ub.olutc a..ignmrnt
<br />, _.-�' • • nnd not s�n a�signment far•rdditi��nal.��urity unly.
<br /> -�,-•.�;� 1�� If Lender give.naire of breach to Horrowcr. 1a►au ren�.n�rrvrd i.y iiorra�.cr.naii ix ncici n�•num,�.rr u.�ru.�cY -
<br /> ',•.' fur benefit of Lender only, ta tk vpplird w thc wm.�ecurcd hy Ihe Srrunty In.lrument;Ihl LrnJei •hull t+�rntid►J 1a
<br /> " rollect und receive;dl of thr rcnt.��f Ihe F'n��xny::u�d Ir►rarh�rnum ul�Ix Nru�xn� .hall pay all rcnt.duc:uiJ unpuiJ�a
<br /> ° �� LC11tIl'�UI'LC111IC1 i J�,L111 utl LC111J�f�J1(iI[ill��ni�n3 ca tt'�c iCi"i.itii.
<br />� ��� Bormwer hu�nrn executeJ :my priar us�i�nmrnt ol'the mnt� unJ h�. aot urul will n����wrti�rm ;u�y urt thut w�ou1J
<br /> � `- �rcvent Lcn3cr fra:��cxciritiing it,righl�mxlrr�hi�4'c+rugruph !!�.
<br /> Lender shall not be rryuiRd w cnter up�m,takr cunlrol uf i�r muintam ihr 1'r��E�.ny h�fon ur afler giving nuucc uf
<br /> brcarh to Borruwer. How•ever,Lender ur u judicially ap�rimed Rrc��rr m�y Ju.0 at :ui� umr theru i•a brcarh. Any
<br /> upplicution of renl�+hall not rurc or wuivr any del'ault or mvalidatr any atlKr riEh�nr n•nhtl�•�H Lcnd�w. Thi�a.���nmrnt
<br /> of rents of thz Propeny+hull icrminvte when the Jrbt.rcurcJ hy thc Si�uril�•In�trum�nt i.p.►iJ m f ull.
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