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<br /> — p�yments,which an rofemed to in Puag 2.or chan�e the ar.nwnt of such payments. Any eaceaY pruceeda uver�n
<br /> - - �rt�ountroq uind co pry Yif outxtwWlinY inde�ers u��1Cr tha Nat��r�d tMc�cczuity lnstiument she!!M pwid to the auiry �
<br /> k�dly entiQod ther+eto.
<br /> N. Fea. I.ender m�y coUect fees and chsrQer authorited by the Secrctary.
<br /> !. Graund�tor Accekration ot Debt.
<br /> --- — (�)1)ef�ult. l..ender may.except As limited by rcgulutianx issued by the Secretury in the case of payment defaults,
<br /> roquice immedi�te�yrtxnt in full of�ll aum»�ecured by thix Setudty Instrument if:
<br /> ^:� _ (i)Borrower def�ulw by f�iling to pay in fuU u►y monthly paymcnt requircd by this Security lnstrument pdor
<br /> ;,; - to or o»thc duc date of the ntxt mcmthly pwyment,or �
<br /> _ —�___ _, (ii)9cKmwtr drfeult�by failing,fcK t perlod of thi»y d�ys.to perfomt any othzr obl(gations contained in ihis _
<br /> Scxurity Inswment.
<br /> —_ - - (b)Sale Without Credit Approval. Lcndcr shall,if permiued by applicuble law and with the prior apptoval of the
<br /> Secrc t a ry.requin immodiAte payment in full of all the sums securcd by thin Security Instn�ment if:
<br /> ti)A!1 or part af the Property.or a beneficial intcrest in a trust owning all or part�f t he P roperty.is so l d or
<br /> otherwisc transferced(other than by devise or descent)by thc Borrawcr,und
<br /> �--�v,��;�,;;,:� (li)The Property is not occupied by the purchaser or grantee as his ur her princip�tl residence,or the purchaser =
<br /> ,�==,� or grnntee does so occupy the Propecry but his or her credit hus not been approved in uccordance
<br /> with thc require.ments of the Secretary.
<br /> —��+ei�.�r'�"� (c)No Waiver. If circumxtances occur thnt would permit Lender to require immediate payment in full,but Lender
<br /> =---__ das not cequire suchpa�yments,Lender does not wurve ita rights with res�ect to subseyuent events.
<br />,,�� •-_ (d)Retulatlons of HUD Seeretary. Im m�ny circum+�rences regulations�ssued by the Secretury will limit Lender's _
<br /> - rights, in the case of payment defaults,ta rec�uioe immediute payment in full and foreclose �f not paid. 1'his
<br /> , �i~^ "� Security Instn�ment does not authorize uccelerahc�n or foreclosure if not permitted by rc:gulations of the Secrctary. _.
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<br /> __ � ^+�s�� , (e)Mortgage Not Insured. Bonower agrces that chould this Security tnstrwurnt wid the note securcd tlxxrcby not �
<br /> .;:��K '� be aligible for insurance under the National Housing Act within a months from the
<br /> :':,'`•' ��(�'�'�`'� , date hereof,Lender may,ut it�option urid notwithstandi��g nnything in Paragraph 9,require immediatc payment in
<br /> �°�����P� , "�'^• � full of all sums secund by this Security Inctrument. A written statement of any authorized agent of the Secretury
<br /> •?+'�t�,"`�`'�"�"��" ,� dated subsequent to 6 MoAths from the date heeeof,declining to insure this Security _
<br /> � �� ` ' ` Instrumenc and the note securcd thereby,xhall be deemed conclusive�xoof of surh ineligibility. Nntwithxtunding ___
<br /> ��y,�.: the forcgoing, this option muy not bc cacrcised by Lender when the unavailubility of insurance is wlely due to
<br /> ,�.'•ti"' '`'°-�-y Lender's failure to remit a moRgage insurance pr+emium to the Secretary.
<br /> "� ' �•,,�a�,;,,h,�W 10. Reinstittement. Borrower has a right to be reinstated if Lender has myuimd immediate payment in full because
<br /> ,,�; . of BorrowerS failure to pay an amount duc under thc•Note or this Security Instrument. This right applies even ufter
<br /> forcclosurc proceedings ere instituted. To reinstute the Security Instrument. Bornower yhall tender in a lump sum aU
<br /> ,, amounts requimd to�bring Barrowert account curcent lncluding,to the extent they arr abligations of Borrower under this
<br /> - - '��.•�,�;==;��:.�. ° Secunty instrument,forceiosure wsGc and reuwnnble and cuscomary a�iun�y:f��:�d e�:pens�s properly assc:.i�icd uiih
<br /> •���;i. •�: .... the foreclosure proceeding. Upon reinstatement by Borrower,this Sc�urit}� Inatrument and the obl�gutiom thut it secures
<br /> ��'�� •'�`:�• ':�"� •1� shell remain in effect us if l.ender had not reyuired immediatc p•ryment in full. However.Lender is not required to�ermit
<br /> ��'`;?` '•�� �":'�+�- • reinstatement if: (i)Lender has accepted re►nstatement after che commencement of foreclosu�proceedings within two
<br /> ' n��:�'�;�s�%;;:;.".;;�' . years immediately precedtng the commencement of a cucrcnt foreclasure proceeding, (ii) reinstatement w�ll preclude
<br /> �.., r:;.;.'::.• i foreclosure on different grounds in tha future,or(iii)reinstatement will adversely uffect the priority of the lien created by
<br /> �''�'�'� ��"� � " this Secud Instrument.
<br /> .�:•.;:.y: ,� n' —
<br /> ll. Borrower Not Released; Forbeart�nce b Lender Not a WAtver. Extension of thc time of payment or
<br /> ''q`•'���`�'�```"" `�". ' modification of amonization of the sums secmrd by thlc Sccurity Instrument granted by Lender to;u�y succeswr in mterest
<br /> =`r'`i- �` ' of Bomower shall not operatc to celease the liability of the original Borrower or Borcowcrs tiuccetixor in interest. Lender
<br />- �'�`w�"�•��i���, shnll not be re4uired to commence proceedings agamst anx successor in interest or refuse to extend time for payment or
<br /> '�`,`.„'�'' .°`'"-.'� otherwise modify amortixution of the sums srcurcd by th�s Security Instrument by rearon of any demand mude by the _
<br /> ' original Borrower or BoROwer's successon in interest. Any forUearrnce by Lender in exe�cising any right or mmedy shull
<br /> �� �.a<<.••�F-•� - not be a waiverof orpreclude the exercixe of any right orremedy.
<br /> '"`" '� ° ' 12. Successors and Assigns Bound;Joint a�d Several Liabilit��:Co-Signers. The covenantti:uid agreements of _
<br /> �'� � °'�'�� this Security Instrument shull bind and benefit the succcssor�and�tixigm of Lender:ind Borrower,subject to the provisiom
<br /> � ""'`', 'rt'`^ " of Paragaph 9.b. Borrowerti covenunts and ngrcements shall be joint and several. Any Borrower who co-signs this
<br /> �'����'%;:•:���� Security[nstrument but does not execute the Note: (a) is co-signing this Security Instrument unly to mortgage,grant and =
<br /> ' :(:;�'�-•. �: convey that Borrower's•int�rest in the Propeny under the terms of thi.Serurity Instrumenr,(b)is not penonally obligatcd to
<br /> � '• �••• pay thc sums secured by this Security Instrument:and(r)ugrees that Lendcr:uid•rn�other Borcower may ugree to extend,
<br /> U�.:.•_.H. _.
<br /> ' modify.forbear or make any uccommodations with regard tu thc tertnti of this Sccunty Inztrument or the Notc without that
<br /> .saaa�t�_��� Borroweris consent.
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<br /> �. �,;�. . ;�', 13. Notices. Any notice to Borrower provided for in this Security Instrument tihall lx�given by delivering it or by
<br /> •^�'�,,,;:, meiling it by first cluss mail unlexs applicable luw myuims uu� of another methai. The nutice shall be directed to the
<br /> s .�� Propetty Addres.or any other address Borrower dcsignutcx by notice to Lcnder. Any natirc to Lendcr shall be given by
<br />-�`� , -• -';�` first class mail to I.endcr's addrcss�tatcd herein or any addm�ti Lendrr dc+ignatcs by notirc to Borrower. Any notice `
<br /> .�.r.. . . �
<br /> .trfi `,Y„�..Yg. Provided far in this Security Instrument shall be de.:mcd to have been givrn to Borrower or Lender when given as provided
<br />-:��iy,, �r.. �, � m this paragraph.
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<br /> -==3"'". 14. Governing Law;SeverAbility. 'I7iis Security Imtrumrnt shull tk Euvcrncd by Fcderal law�nd the law of thc
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<br /> __`-��-� �`��� x;� urisdiction in which the I'roperty is loc�ted. In the event thut any provi+ion or clausr of this Securiry Instrun�ent or the
<br /> •�,rY �� ,� �ote ronflicts with upplicuble luw,xuch conflict tihall nut affcrt uther provisionx of thix Security [nstrument or the Note
<br /> .�_. '� .� which can be given effect without the conflicting provision. To this end the provisiom nf thi.Security laswment and the
<br /> - Note are declared to be severabla
<br /> �' 15. Barrower's Copy. Bocrower shatt bc:given one ronfi�rmed cupy of ehis S��curi�y instrument. �
<br /> � 16. Asslgnment ot Rents. Borrowcr unconditi«wlly assigns und tr;u�sten to Lcnder all the rents:md revenues of the �
<br /> __� I►roperty. Borrower authorizes Lender or Lender.l ugent,to collect the mnts and nvenues and her+eby directs exh tenunt of _
<br /> -_ _ _ the Pcope�ty to pay the rents to Lendcr or Lender::�gents. However,prior ro Lendcr's naticc to Bwsuwcr of Borrower's
<br /> � brexh of any rnvenant or�greement in the Securiry In.trument,Bocrower shaU collect and receive all rents and revenues of
<br /> the Prope►ty as tiustx fa Ux benefit of Lender anci Borrower. This assignrr�ent of rcnts constitutes an absnluu aSSignment
<br /> — �nd not aut assignment for additional security only.
<br /> If I.ender gives n�xice of breash to Borcower. (�)all rcnts received by Bocrewer shall be held by Borrower ac trwtee _
<br /> ... . _�_ _�_.�� �.�_�
<br /> - - -- t0[OL71Ctlt Of 1.CIIOC�011ty.to�t i�/1iG0 W IItE sums aG:uIt4 oy ii�t JC�uttiy itiaiFtii���i.�v/a.c�w+ci�r+.v�.�T.uuw:v
<br /> collxt and ieceive�It of the rents of the Prope�ty::u�d(c)es�ch tenu�t af the Property shall pay ali rents due and unp�id to �-
<br /> Lader or Lender'�tgent on Lender�writun demand to the tenant. _.
<br /> Bormwer has not executod any prior uss�g�unent of the rena and itiv not and will not Qerfam any xt that would
<br /> prevent Lender from exercising�ts dghts under this ruagcaph 16.
<br /> L.ender shall not be requircd to enter upon,t�lce conwl of or muintain the Ptope[ty befae or after giving notirc of
<br /> braach to Bamwa. However.l.ender or a judicially �pPointed roretver crwy du so �t u►y time there u a brexh. Any
<br /> applicatiun of rcnts shall not cune or waive any default a mvatidate any cxtrcr right or�em�i}of Lender. This a�signn�nt
<br /> of Rats of the Ptopaty dull tenmintte when the debt secutecl by the Security Insirumeat is paird in fuit.
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