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<br /> p�yments,whkh are rcfemed to in Par�gr�ph 2,or chanye the amount of such payment�. My excem:proceeds over�n
<br /> unc�untrequired to pry sll autst�ndin�indebtednexs under thc Note�ud this Security Inswment rh�U be p�W ta ihe aM1ty
<br /> — — k�dly eatltlod theKto.
<br /> _ � & Fees. I.ender m�y calkct fces and char�es Authoriztld by the Srcrcuuy.
<br /> 9. Grounds lor AcceleraHoa ot Debt.
<br /> - (�)DefeWt. Lcnder m�y,except As limitcd by regulntions lssued by the Secrctary in the cace of paynxnt defiults.
<br /> __ _ require immPdi�tc�+yrnc:nt in full of HQ�um�ac.curcd by thia Security Imtrunxnt if:
<br /> : — (i�Bcimower de(�ults by failing to pay in full nny monthlY pxYment r�cquircd by this Security In:trunxnt prior
<br /> rcq
<br /> - :,u��l � to or on thc due date of the next monthly payment,or -
<br /> (ii)Borrower defaults b y fatlin�.for a p eriod of thirt y da ys,to p ert'am wt y cuher abli gations conUtined in�his�
<br /> -- Security Instrument.
<br /> Ib)Sak Without Credit Approval. Lcnder shaU,if permitted by applicable luw and with the Exior approval of the
<br /> Secretary.c+equice ImmediAte payment in full of all�he sums secured by this Se:urIty Instrument if:
<br /> ��'— —__ (i)All or pact of ehe Property,or a bcneficial interest in a trust owning all or part of the Propetty, ic sc�ld or -
<br />� i ~ otherwise transfcrred(other than by de�ise or descent)by the Borrower.and
<br /> �+�`-���Y�'"'""'� (ii)The Property is nat occupied by dt�pur+chaser or grantee;u his or her principal rexidence,or thn purchrxer
<br /> �� or grantee das so occu�y il� Prq�c+l.y but his or her crcdit has not been approvcd in accord�nce
<br /> � ' with the mquirements of Ibe Sons�uy.
<br /> .�., :� (c)Na Waiver. If circumstan�acc,,u d�,at would permit Lender to reyuire immediate payment ln full,but l.ender
<br /> y + docs not�+equire suchpaymerus.I,r,�:t does not waive its righu with respect to subsequent even4c.
<br /> _. - � f . (d)Re�ulations ot HUD Secra�r�. �n ma�ny circumstances mguL�tioos iswed by the Secretary will limit Lender�
<br /> ��';;:�,.�• "� rights, in thc ca5e of paymeat r3;}a�hs, t�m{�re i�nedi3ee�eymeset en: fuil and foreclosc if not pa3d. 'Ihis -
<br /> � tf°"""`-�'"' Security Instmment does not mulawize acceieryi�oa or ia�a:fas+cre if eot pennn��ed by regulutions of the Secretnry. _
<br />� ' �- �}iR.�jL..s�,a '
<br /> ';1N�"?`y�•:;•'•-. (e)Matgnge Not Insured. Baa+c��s�rees tt�•rt shoul�tfiis Se.urity In�tnmxnt and the notc securcd thcreby not
<br /> ,.�. _ ::,.J;...� .
<br /> " '�• �'"„tr,�: ; be eli;^.ible for insurance wYLer a'`�:\atioe�a! iic,using Act wiePoi� g �pnths from the =
<br /> + ���'"""' date hereof,l.ender ma at io aad�ac��,�u�ndin an thin in h 9,re wre immediAte u ment in -
<br /> � ,..:��,.>::,,,^,�,�y. Y• �� S Y S �'�P 9 � P Y
<br /> „ :;,, . ; full of all sums sera,u�ed by this S�curit�Lrtvon�n•�rax. A written�tatemeat of:u�y uuthorized asent of the Secrctary
<br /> •.•':�'��:'�% `.��;"�' dated subsequent tu g mpnths from the date hrrcof,decliniag to insure this Security
<br /> . � , Instrument and the note securcd tlKreby,shaN be deemed conclusive proof of,uch ineligibility. Nawithstunding
<br /> � �'` • the foregoing,this option ma} not be exercised by L.ender when the unavailabilit�•of inwnutce is solely due to
<br /> �'''��'... •�"`�"' • Lender:s failure co rRmit a mortg�v,e insurance pcemium to the Secretary.
<br /> � ...'•.� 10. Reinstatemen� �3wrower has a right to be reinctated if Lendcr has reyuimd immediate paymcnt in full bec�use
<br /> -��. ''''"���' ' , of Borrawert failure to pay an amount due under the Note or this Security Inurument. This right applies even after
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<br /> . . ,.' ��T"��, � f8it�:IJSUit �itx:CrcJiuKi atr III1ItIUICII. TV IC��I1Li!(C I�IC JCI:Uft�y 1111IfUt11C�lI� SlH1UWC1 J'�i1�� ZCItI�Cf Itt it IUtii�7 iiiiti Aa�
<br /> s , ' . amounts required to bring Borrower�aceount current including, a tir extent they are obligati�wn.of Borrower under this
<br /> i � Seeurity Inszrument,foreclosure costs and reasonable and custac�ry aa�aneys'fees and expensr.peoperly acsociated with
<br /> ,��;� � • � the fomdosure procceding. Upon reinstatement by Bortower.[his S�:urity Instrument nnd the obligutions that it secures
<br /> �'' shall remuin in effect ns if Lender hud not rcc�uircd imm�diatc payment in full. Fbweve�,Lendcr is not rcyuired 1��rmit
<br /> . teinstatement if: (i)Lender has accepted remstutement after the commencem:rtc r`.�>.�eclosure proceedings wuh�n two
<br /> - ' ;` years immediately preceding the commencement of a cument forecicnurc pro�t��aiR�. (ii) reinstatement will preclude
<br />� foreclosure on diffcrent grounds irt the future,or(iii)reinxtutement will Advcrsely Atittct the priority of the lien rrcated by
<br />" this Security Instcument.
<br />� • , 11. Borrowe� Not Releaced; Forbearance bv Lender Not a Waiver. Exten�ion of the timc of payment or
<br /> - •�� madification of amortir.ation of the tiums secumd by this Securiry Instrument granted by Lender to any suceessor in interest
<br /> � •� of Borrower shall not operatc to rcicu`e thc liahility of the original Borrower or Bcxrower's�uccetisor in imerest. Lender
<br /> � � shall not be rcquired to commence proceeding,a�ain.t �ny tiurrr.,or in interest or refuse to extend time for payment or
<br /> �.: ' othenvise modify amortization of the .um. .rcurcJ by thi. Scrurity Imtrument by rcason of su►y demand mude by the
<br /> � original Borrower or Borrower's+uccesson in intere+t. Any forbc�arance by Lender in exercising any right or rrmedy shnll
<br /> ; � �� not be a waiver of or preclude thc excrciu of any right or mmcdy.
<br /> ;` �'�.� 12. Successors and Asslgns Bound;Jolnt and Sev,ral I.iabilitv;CaSigners. 1'he covenants nnd pgreements of
<br />: �,;'.'��;' • :�' - Ihis Security Instrument shall bind;►nd henefit the surce,�on unJ a,tiigm of Lender:►nd Borrower.tiubject to thc psnvisions
<br />�, :� �`�ti;: - � ' of Paragraph 9.b. Borrowerk covenantz and ugreemenn tihall be joint und .everal. Any Borrower who co-signv this
<br /> ��';�,'i • Seeurity Instrument but dces not execute the Note: (u)is co-xignin�this Securii��Instrument only to mortg;�ge,grant and
<br /> F� ' . wnvey that Borrowcr's intcrest in the Propeny unJcr the tcrtns of thi.Sccurity lnstrumcnt;(b)is not personally obligated tn
<br /> 't. . �, pay the sums secured by thiti Securit}�lnstrument;�nd(cl�gree�that Lrnder:md aay othcr Borrowcr may rFrce to extend,
<br />` - modify,forbear or makc any accommcxiations with mgard to thc termti of this Serurity Imtrument or the Notc without that
<br /> �,�, Borrowcr's conu:nt.
<br /> �" '" ' + 13. Notices. An noticc to Bortowcr rovidcd fur in thiti Sccurit Instrument�hall ix �rven b deliverin it or b
<br /> •,�U.;,: ' Y P Y b� Y R Y
<br /> �-•� , +++:�� mailing it by fint cl•r.,+ mail unles+appliwblc luw rcyuires uk uf anothcr mrthod. Thc notirc .hall be dirccted to the
<br /> '� � Property Addresx or any othcr addretis Bormwcr dc.ignatex by n��tice to Lcndcr. Any nntirr to Lender shall bc given by
<br />` � "� I � , first class mail tu Lender� addrcs+titated herein or any addres� Lender dctiignatrti by nutirr to Borco�ver. Any notice
<br /> ' �is' provided for in thiti Securiry lnstrnment shall be dcemed to havc bccn given to Bam�wcr or Lcnder when given as provided
<br /> m this paragraph.
<br /> '•• � 14. Governing Law;Severability. This Sccurity Instrument shull hc guvemed hy Fedcral law and the law uf�he
<br /> '�" :.-�•�• �•�_ jurisdiction in which the Praperty is located. In the event that:my pmvision or clau+e of this Security Instrument or thr
<br /> � " Note conflicts with applicable law.�ueh conflict tihall not affect other pruvi�ions of thiti Srcurity in,trurrknt or the Nut�
<br /> '�'''' which can be given elfect without the conflicting provision. To this end the provitiion�of this Security Inwutnent and the
<br /> ''r;".`. ' � Note arc dcrl:urd to be severable.
<br /> '�:.',�°•:� � .... IS. Burrower's Copy. 8orrower shall be givcn one confomud copy af thi�Securiry instrument.
<br /> '.�.•-.•.�:_.,. 16. Assignmeat ot Ret�ts. Borrower unconditionally assign,and uan�fcn to l.ender all the rent,ard rc�enues af the -
<br /> , �'"~,;�•.� �„?� Property. Borrower authori•r.es Lender ar Lenderl agents to collect the mnt.and nvenuex and hercby directs exh ten:uit of
<br /> '` Ihe Property to pay thc rents to Letxkr or Lender's agcnts. How ever,prior to i.ender:notire to Bonower of Borrowcr�
<br /> ��;� brcach of any covenant or agreement in the Security In.trument.Borrower shall collext suid rrceive all rents and rcvenuec of
<br /> ==�� -- the Property as tiustee for thc bcnefit of L.ender uui Borrowcr. This�ssignment of rent�wnstitutes an absolute assignmenl
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<br />. . r.....w�.:Sai6...:�a.iu.v.�w..:vi.�a��.uj O�oy.
<br /> � If L.ender gives notice of brcach to Barower. (al all rcnts meeived by Borrnwer shall be held by Bocrowu as trustee
<br /> far benefit of Lender only,to be applied to thc wms secured by the Securiry In,trument; (b)Lender shall be entitled to
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