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<br /> .-=�s 9�._.,. 1 U885 2
<br /> �`�s-° '. -- paymentr. whlch ore�+eferted to in Parug h 2,or change thc amount of such pay�ents, Any excess proceeds over an ___.
<br /> ;�s amount rcquired to pvy dl outst�ndin�inde�cedncss undu the Notc And this Security InstrumeM siwll be paid w�ho endty =
<br /> ',;�— -- � I�a11y enhdcd theneto. -----
<br /> , 8.Fees. l,ender may collect fees and charges au�horized by�he Secrctary.
<br /> . :,.. : � � 9.Grouads tor AccekrAtiou of Debt.
<br /> ° - (�)Defiul� Lender may,except as limited by regulations issued by the Secretury in the case of payment defauit�,
<br /> .,;•���;�: _� require immediatc payment in full of all sums secured by this Secur�ry lnstrument�f:
<br /> ���;. (i)Borrower defaults by failing to piy in WII any monthly payment required by this Security Instrument p�ior �- _ __
<br /> _��_.,���`:� to or on the duc date of the�cxt monthly payment,or
<br /> -s�:�_��{y�r« � (if)Botmwer dcfaulb by fuiling,for a penad of thiny days.to perform uny other abligutions cattained in thia _
<br /> `---��•:;�:,.',�,,r��° Security Inst�ument. �.,,s:
<br /> � .--- (b)Sale VYithout Credit ApprovAl. l.ender shall,if permincd by applicAble law and wi�h the prior upproval of�ha
<br /> =?�:-:• ' " y�' � Secrctary.requirc immediwte payment in fuli of all the swns securcd by 1his Securiry Instrument if: �;;--
<br />____ �'�- " .:: ��r (i)All or part of�he Ptope�ty,ot a beneficial interest in a qust owning all or pun of the Property,is sold or __
<br /> � ��� r K•:. othervvise transfcrred(othcr than bx devtse or descent)by the Borrower,and R- -__
<br />-`L- __�K:"�'SY,!� , -.--_
<br /> - __L, ;,, .F (ii)The Property ia not occupie�by the purchaser or grontee ns his or her principal residence,ur th�purchuser
<br /> -_-- -- --.:...: . or gruntee dces so occupy the Property 6ut his or her credit hax not been upproved in accordance c__
<br /> y���;•�..-'.; with the r+equirements of the Secre�ary. -: -
<br /> =;.�,�, c (c)No Waiver. If circumstances occur that waukl permit Lender ta require immediate puyment in full,bul l.eader ��
<br /> = does not require suchpaymenGs,Lender dces not wcuve i�s rights with respect to subsequeot evenis. �-�---_,_
<br /> �� ° '.'� ' (d)R e�ulANons a�HUD Secretary. In many circumstanccs regulations issued by the Secretury will limit L.enderk ��.-�_
<br /> "��y�-` �Y p ,:; rights. in the case of payment defaul�c. to rec�uire immediate pa ment in ful l an d fareclose i f not pni d. T hiR - -•
<br /> . *�-�l�.-_.
<br /> � ,�y ��.�r;�,•.,.� •-.,�� Securiry Instrument does not puthorize acceleratmn or foreclo9ure� not permined hy regulations of the SecretAry. ���
<br /> �'� ,��, , ,�.y_: �e)MortgAge Not Insured. Barawer agrees ttiat should this Security Instrument und the note secured�hereby not �
<br /> ;;! ��, , , ?•r be eligible ior insuranceunder the Nationttl Hausing Act within 8 months fi0�� g,�•-_
<br /> tl
<br /> .,,;,,.� �-.•+ ` � •'�� date hereof,Lender may,at its optian and notwithstanding unything in Purugruph 9,require immediute puyment in �_���
<br /> :,.��' ' "'' � full of all sums secured by this Security lnsaurnent. A written s�ucement o f uny au t hori z e d a g e m o f t h e S e c re t a ry "-�=-�-"=s•-
<br /> t:� , � �'� .� duted subseyuent to g months from the dute hereoi,declining to insure this Security y„�, _
<br /> ' . E���.-.
<br /> 7...�:a:c.n.
<br />--�T� r:.• . Inswment and the nae secured�hereby,shall be deemed conclusive proof of such ineligibility. Notwithsanding �-.;ti,__-
<br />--;�„i . .
<br /> _- • the foregoing.this option muy nat b.exercised by Lender when the unavailubilily af insurwrce is wlely due to �.-�._y�_
<br /> "`'�`�� � �' Lender s fs►ilure to remit a mortgage in9uronce premium to the Secretary. T��
<br /> . �_r.'•r.::
<br /> ����' lA. Reinsfatement. Borrower has a righi to be remstated if l.cnder has required immediate puyment in full becAUSe �--•
<br /> �.
<br /> t ••'�' of Borrower's• failure to pay nn emount due under the�Note ar this Security Inatrument. This nght applirs even after -��}N�, -
<br /> -�— ��_ ;;�'; foreclosur+e praceedings are instiwtcd. To reinstute tlte Security Instrument, Borrower shAll tender in a lump sum all ��+�`�
<br />;=,� , emounla r+equ�red to bring �orrower's tucuuni cw�rui i�n;iu�iin�,t�ihe extcnt thcy arc ohligatioo:of 9orruwer u�dtr this =- -^�" vl
<br /> �.:'.�'! � � Securiry Instrument,foreclosure costs and reasonable and customary uttomeys'fers and eapenses properly ussocinted wi�h �='-°�
<br /> � ° the forecla�ure proceeding. Upon reinstAtement by Borrower,thi+Security Instrumem und the ubligations thnt it secutes ����-r-
<br /> :�;.,,.; ==A:.-r--
<br /> . • •� s6a11 remain in effect as if L.ender hud not rec�uired�mmediute payment in full. However,Lender is not required to pertnit —__
<br /> . �• reinstatement if: (i) Lender has accepted mmstutement ofter the commencemeol of foreclosure proceedings within two ��.:....
<br /> . years immediately preceding the commencement of a cument foreclosure procecding, (ii) �instatement K•dl preclude �;
<br /> ;�;��. . . .� foreclosure on different grounds in the future,or(iiil reinsta�ement will adversely aifect the priority of the lien created by �;:t,�`i'•~
<br />• s,.tir; ;�.� .,,.,,�.;;.,'e;` ihis Security Instrumcnt. =M=-
<br /> 11. Borrower Not Released; ForbearAnce by Lender Not a Waiver. Extension af thc time of payment or "-`�""`�-
<br /> .:?;:'•, ;�:�_:..'. ��;. �s'-��,.
<br /> ��,:�..:,� modificntion of amortizution of�he sums secured by this Securiry Inxtrurtn:nt granted by Lender to uny successor in interest s-�. ,
<br /> �'f-!�'.J. �" � '" ' of Borrower shall not operate to releate the liability of the ori�inul Borrower or Burrower's wccessor m�nterest. Lender ��-----�
<br /> `"'{ '.: � "•�`�`� shall not be re uired 10 commence praceedingx agamst any wccesxor in interest or refu�e to extend time for payment or '
<br /> r�� ;i::.,��- . �
<br /> !J�:'`•.,, otherwise modify amorlization of the sums securcd by this Securiry Instrument by reu.�on of uny dem+u�d made by the
<br /> _"`;,i •, 'c'`" origi�ul Borrower or Borrower's•succesxors in interesL Any forhearance by Lender in exercixing uny right or remedy xhull __Y_
<br /> ,;:, ._ �, " not be n waiver of ar precludc the exerci+e of any right�x remedy. e�� ;:
<br /> ' � �'� 12. Successors and Assi�ns Bound:Joint a�d Several Li�►bility:Co•Signers. Thc covenuntx unJ ugreements uf , -
<br /> � . ' . • ''��' this Securiry Instnament shall bind and benefit the xuccesson and u�signs ot'Lender:�nd Borrower,subject to the provisions �•.'"L `
<br /> �•.� �:;e�--
<br /> .;.�1� .�}.� . of Paragraph 9.b. Borrower's rovenams smd ugrcemem, shall be joint and +�:�eral. Any Borrowcr who co-signs thi� .,--.��
<br /> , �(;_��,;, Securlty Instrument bul does no�execute the Note: (a)is co-.igning this Security Inxtrument only to mort�uge,grunt and ��=����
<br /> � '�� ' ° ''• convey�hat Borrowerk imercst in the F'�aperty under ihe terms of this Security Instrumenr,lbf is not personally obligated�o ' �
<br /> � ' �'�,: pay the�ums securcd by this Securit��Instrument;und(c1 ugnas thut Lender and nny uthrr B�ttrower may ugree to extend, . .�
<br /> • �''' madJy.forbeur or muke uny uccommadations with regard to Ihe trrms of thiti Seruriry Instrument or the Note without that '�,•.,,-�__
<br /> -__ " . •::���,_. Borrower�wmenl. �"•':'�`:�
<br /> � t3. Notices. An notice to Borrowcr rovided for io �his Securit Inxtrument shall lx iven b deliverin it or b "'�
<br /> ' �,•i�',:..` ' . Y P Y B Y S Y , _
<br /> ,;��,,. . . �';�•-
<br /> • �� �:t4 muiling it by Grst cluss moil unlesx upplicable IAw myuires u+r of unother mrthcxi. The nutice shull be dirccted to the �
<br /> �'t�'" •' Propeny Addres�or any other address Borrower designates by nutice to Lcnder. Any noticr to Lendcr shall be given by
<br />• ::�;�': • `.:��'' Prst clusti mAil to Lender+uddrctis.tuted hrrein or any addrcss Lendcr Jcsignute+bp notice to Bortower. Any notice �
<br /> ��� a • Qrovidcd for in this Security Inxtn�rnent shall he decmcd lo h•rve t►ecn givcn ta Borrowcr or Lcnder when givcn us proviJed � �, •_•...-
<br /> .. . ,'•'� m this parugraph. ''.' ~�.
<br /> 1�{. Governin�Law;Se�•erabilily. Thiti Security In.trumrnt �hall Ix Lovcrned by FrJeral luw und thc law of the
<br /> ' -� jurixdicti�n in which Ihe Propeny is I�xuted. In the event �hat an�• pru�•i.i��n or cluutir uf this Sccurily Instnxnent or the
<br /> _ • ��t:':�
<br /> �•,1< Nute conflicts wi1h ap licable law•,+uch conflict �hall nul a(fert olher pru�•i,iun� uf'thi�Scrurity In�trument or the Note
<br /> ;�'r'•;:.'.
<br /> �,;':.';;�..' . „,•�; which can be givrn ef ect uithawt the conilirting pmti•i.ian. 1'ii thi,end the provi.iom ul�hi.Securiry Instrurnent and the .
<br /> '•�'..i : • Note are declarcd ro he se��erable.
<br /> '�.:'' ' IS. Burrower's Copy. Bortower shall b��iven one rontiirnied cop�•uf thi,Srruriry In�trument.
<br /> ��`�-,�'� ' " . , 16. As.gigomeM af Rents. Bono�ccr uncunditionalh••r..i�n.and tran�frn 10 LenJir ull the rcnh;md mvenu��s of el►e
<br /> • Property. Borrower autM�rizes Lendcr or LrnJrr�a��rw>t��coll�r�the rrnh and r�venur+und herehy dimcts erch tenant of �.,
<br /> the Propeny to pay the rents to L�nder or Lender;a�Zemti. Ho«�r�•er. priar w L�nder�noticr to Born�wrr af Bortowcr; ,
<br /> �� - ° brcach of suiy coven:mt or agreem�nt in the Serunty In.�rumrnt.Borro�ver�hall collrrt�nd mccive•rll renh and revenurs o3' .
<br /> +�.:� the Property as trustce for the hen�tit of Lender anJ Bi►rruwrr. T'hi�a+�ignm�nt of'rtn��com�itute�an ab�olute u�signment �
<br /> und not an assignment fur additional.�.�unty unly.
<br /> -- .0 _.i�..n.. .w..0 h..I...L��...p.. .�...�.. .
<br /> . - 1I LC[IUC�s1YC`IIUIIIY UI lI1C:lt11 iV uv1lVw�i. io i a��i�i�i.i����i��.0..� .••-i:��i ...u... ... .� ...:�:::""•.�.-...,'...: .
<br /> t for lxneti�of Lender unly,lo be applicd to thr�um� ururcJ b�� the Srcurit��In.�rument: 1 bl LrnJrr.hall tx rnlid�d to
<br /> ' . _ .. rnllecl und receive ull of the mn�< <,f rhe Pn,p:ny:and Ir►rach�rnam„f ihe Rnprrty.hall pa�all rcnl,Jae:mJ unp:�iJ��,
<br /> •� Lender ur LenJer:agent�m Lr�xirr',written demanJ 1���he tenant.
<br /> ._ ' Borrower hu.+not exc�ut�til uny pnor ux,ignment ut the rrnt�and has not undµill n��t�rtortn;u�y act�hs�t wiwld
<br /> - prevcm Lender frum rxerci,in�ii,nghn undcr thi�Paragr�ph 16.
<br /> Lender�hall nut tk n�yuind to rnter upun,t:ilce cuntrol uf��r maintuin th� !'roperty t+rtorr or aftrr giving n��urr of
<br /> breach W Borruwcr. Howevcr,Lender or L juJicially up�►int�J r.tici�er rna�� do .n at am �ime thrm i�a brcuc:h. Any�
<br /> upplicatiun of rent,.hull nW curc or w•aivc:uiy Jefault or m�aliJ:�t�:u�p utlxr ri�ht or rrmeJ�•of LenJer. This a.�ignment
<br /> of renls uf thr!'roperty+hnll t�rminat�µhen thc Jrbt+��urcd hy Ihe Srrurrty Imlrumrnt i.paiJ m t'ull.
<br /> .. ,��,.r.����ve�,i
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