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<br /> . paytpenu.which rie teferred to in Pua 2.a cinpgr the amas�t af such psyments.,My eacess procteds aver ao � '.
<br /> amom�t�equic+ed tt►Qsy all aut�anding iit�d�ess under the Note and this Securiry inswmau sb�t be prid to t6t entity
<br /> � 'kga�IY sr►titkd tl�ereto. . . .
<br /> — -- � Fe�. i�ender m�Y cotlxt fess and chuges authorized by the Secretary: `
<br /> _— --- ! Grwads for�►ccekratton o�IkM. ` ' `
<br /> � _ (a)DdaW� Laider may,eaapt as ttmiued by regWatiais isw=d by the Secretuy in the px af paymrnt defautts. .
<br /> _. nquice immediatep�yment�n�uU of at!spms secu�ed by this Seciuiry Inswmcm i�
<br /> - �if BottovHx dei�sits by fa�leog io pay in fWl any m�ttilY PaY�t�4uired 6y�his Sesurity Insttument priar -.-
<br /> :} w a on the due date of We noxt monWY PaY��� ,
<br /> �� (u)Bamwa defiuI�s by failing.for a period of thuty days.to perfom�nny other obliguions contained in this
<br /> Seruriry Iiutnunent
<br /> (b�'Sfle Witioot Credit Approval. Leadn'shall.if permitted by applicabte law and with the pior approva!of the ' -
<br /> - Secretary,ceqai�e immMiue paymrnt in full of all the sums secuted by this Securiry insaument if _ , _
<br /> -- :� (i)All or put of tbe Pmperty.or a 6eneficial intetest ia a unst owning all or peut af the Pmperty,is sotd or �
<br /> .::.�, ot6erwise tr�nsfetsed(other than by devise or desceny by tlie BoROwer.and ___
<br />;�;.` . (ii)'ibe Yraperty is rat occupiod,by tbe p�ncha�er or grantce as his a her principal residence.ar thc punhases -
<br /> r ot grantee does so occupx the Pmperty�but tus or her credit has not 6een appmved in accordance =--
<br />��'+I, - •- with the zequuementsof the Secc�etaiy. �` —
<br /> � `. (c)No Waivu.If cinvmstances axur that woutd pemiit Lender to req�we immodiate payment in fulb 6at Lender :c=-�.�---
<br /> -e5-x,8_.-.--
<br /> .,�;:.- ,-;'-.��-:�'`�:.^ • does not require suchpayments.l.ender daes aot waiv��ts rights wiW tpspect to su6sequeni events. ::,s,n n___
<br /> -�,���.... •�.. (d)Re�ulatioua ot HUD Sccretary. In many circumstances:egulations�ssned by the Secretary wiU limit Lender's : .;�.e-�•=--
<br /> `".''v`"'�`� rig6ts,in die case of payment defaults,�w iequirc immediate payment in full and foreciose if not paid This :.�':��4:
<br /> .::..a.�_ �� .
<br /> :`�?-�:-:�=.`;�-�`�: Sacuriry Insuument does not authorize acceteration or foreciosure if not permitted by regulations of the Sccretary._ - �'�
<br /> ;k�r�.�
<br /> ;.�d_.,.::^,,���-:; (�)Mart�e Not Incared. Boirower agrees that should this Securiry Instrument and the nMe secwed themby rtot �. .
<br /> �Y�G -t 1 ^
<br /> ;� ` be eligible for iasurance ander the National Hoasing Act withia 8 �atLs
<br /> '•�� `��s date heieo�1-ender may,at iu option and notwithstanding anything in Paragraph 9.require immediate payment in ...�
<br /> ���:�_�"---=`+'.'...' �-
<br /> f:, n� �"?*.` ful.t of all swns secured by tLis Socurity Inswment A written statement of any autharized ageat of the Secretary ; �t:: _�
<br /> - �`, ` �* { , dated subseqaeat to 8 �IIths from the datc hereof,declining to insut+e this Security ..y:; ��
<br /> r..�_.;.� , . . Instrument and the note secuted thereby,sha116e deemed wnclusive proof of such incligi6ility. Notwithstaz[dirtg . �V`
<br /> -� • r ' the focegoing,this option may not be exercised by Lendet when the unavailability af insurance is solely due to; [r: x_
<br /> '�` ' ' i.ender's faili�re to remit a mortgage ir�surence pmmium to the Secretary. • _=_.
<br /> "� r°. , 10 Reinstatement Borrower has a right to be ieiastated•if I.ender has iequired immediate payrnent in fuq because ---
<br /> e
<br /> � � � of Borrower's failure to pa y an amount due under the•Note or this Security Instrumem. This nght apalies even after �� _
<br /> _ . ,,;•,°�,;;�_.` : ` forectosure pmceedings are mstituted. To reinstate the Security Insm►men� Borrower shsill tender in a Iwnp sum a l l - . _
<br /> ;���,� , amounts reqwred to:bring Botrowei's account current including,to the extent they are obligations of Borrower undcr this _� • ,,. °; �
<br /> .:, ,.. : . ., Security InSUUmen�faeclosure cosu,amd reasonable and cusmmary attomeys'fees and expenses propedy assaciated with ,�..,}x,•?
<br />- ' the foreclosure proceeding. Upon minstatement by Borrower.this Security Inswment and the obUganons that it secures 'r'-'" "• -
<br /> 'r'E, , � . -
<br /> � ' "'�;'- e( ' shall remain in effect as if Lender had not reRuired unmediate payment in firll. However,Lender is nnt mquired to pem�it 4:::i::;�;F
<br /> � '- � �ei�statement if: �i) Lender bas accepted reucstatement after the commencement of foreclosure proccedings within two -�=�- _
<br />_ .-- - - _ - = � . .� yea�s immediately preceding the commencement of a cuaent foreclosure proceeding. (ii) reinstatement v�nll preclude . - -_
<br /> , . � � � fomctosnre on different grounds in_the future.or(iii)reinstatement will adver.sely affect the priority of[he lien created by -
<br /> . this Security Instruc�_�n� °'
<br /> • ' 11. Borro�s Not Released; Forbea�ace by Lender No! a tiM1aiver. Extensian of the time of payment or : ° . 5„�
<br /> � � � modification of amortization of the sums sec��by this 5ecunty Insuument granted by Lender to any successor tn intetest .
<br /> ' �� • of Borrower shall not operate to release the li�5ility of the uriginal Bortower or Borrower's successor m interest. Lender - � �.
<br /> - • . shall na be required to commence proceedings aga�nst any succes.wr in interest or refuce to extend time for payment or � .. :..'� ;•:.. 4•
<br /> .� � otherwise modify amortization oP the sums secured by this Security Instrument by c�eas�n of any demand made by the ,�i
<br /> � ' .' • original Botrower or Borrower's•successors i:�enterest. Any forbearance by l.ender in exercising any right or rcmedy shal! �r
<br />. : � . waiver of or rectude tfte exercise of:.x� right ar remedy. �� �'
<br /> " _ � n� 12. Successars and Assigns Bound;4�bant and Several L?abiltty;Co-Signers. The covenan�s and a�ecments of . � . . ;
<br /> � s. �, ��. • this Security Inswment shall bind and benefi:',��r succcssors and arsigns of l.endcr and Borrower.subject to the pravisions r :� : ; _
<br /> . ' - ��. �' of P.tragraph 9.6. Borrower s covenantx and aa eemenGs s h a l l be joint an d �evera l. Any Borrower w h o c ast g ns this �.., .. ,��y.,,;� ,.
<br /> .' Security Instrument but does not execute the Note: (a)iy e�-s.9�ing this Security Instrument only to mortgage.grant as�d r . . .
<br /> • .� . convey that Borrower's interest in the Property tmder the terms of this Security Instrument:(b)is not personalty obligated to f ." .��?'�� �
<br /> . � pay the sums secured by this 5ecurity lnstru�caer?:and(c)agrees that Lender and any other Borrower may agree to extend 4 .
<br /> = .;a;,- ' � modify,forbear or make any accommodatiom��nith regard to the terms of adai+Sccurity Instniment or the�iote w�thout that
<br /> '�;`,, . Borrower's cansem. � • _ _
<br /> ,, ,_� -'� �i.;,; . 13. Notkes. Any notice to Borrowcr provided for in this Seeurity tn+trument shall be given by dclivering it or by ;
<br />;; � '� � ���•t�;;;�'�,;,'•.. , mailing it by first class mail unle�.c applicable law reyuires use of anather method. 'Ihe aotice sha11 be directed to the ; ' _
<br />,��..., +�;;�;,;.�_. . Property Ad�ress or any othcr address Rorrower designates by nnticc to Lendcr. Any notice ta Lcndcr shail be given by _
<br /> �� �. . firs!class mail to Lender's address�tated h�rein or any address Lender detiignste�by notice to Borrower. Any notice .
<br /> ;:�. �•;•;° -.�� provided for in ehis Security lnstrument shall be deemed to havc bcen given to•Bonower or Lender wlpec�,g�ven as provided _ ...___
<br /> �'�, • '.. '
<br /> .. : in this paragraph. • _ . . - .
<br /> "'�`"`"' '` �, 14. Governin I,aw;Severt�6ilit This Securit Instrument s6all be ovcmed b Federal 1aw and the law of thc _
<br /> =: ' �,.: -
<br /> � :�7:I.;,.;°7�.:_ : g y Y S y • ...:�;.r::; . :
<br /> �r un5diction in which tfie Pro �s located. In the event that any provision or clause of this Security Instrumens mr the �, ;�,�.�;.:.
<br /> .tl�.;;,� :. :�.,•;t,,
<br /> �. �uce conflicts with applicab e Vaw.such conflict shall�ot affect other provisions of this Security Instrument or at���1ote � � ,,;.,,,.
<br /> -- ' � �f� wbich can be given effect without the conflicting provi�ion. To this end the provisipns of this Secyrity instrumeat sarid the � '
<br />`"": Note ara declas�A to be severa6te. •' ..:'
<br /> _ 13. Borro�er's Copy. Borrower shall be given one conformed ec�v c��is,Security lnswment. .
<br /> 16. As�ement d Reets. Sotrower unconditionally assigns and tca�sfers to Le1►der atl the rents aitd revenues o�'the �'
<br /> �-.� -r�- `
<br /> �� Fnoperty. Borrower authorizes Lender or Lender's agents to collect the rea.�s and reve�e�es and hereby d1rCCts eaeh tenant of •.;��.;:�`:�,,:'
<br /> the Propeny to pay the rentS to Lender ot Lender's agents. Howcver,privr to Lende�'s r3�'ice to Borrower of Borrower's � :••'; "�'�' ��.
<br /> _ --�-� bneaeh of any eovenant or agraement in the 5ecurity Instrument.BoROUer ssea:l collecc�i^�receive a11 Tents and revenues of ; �
<br /> the Property as hustee for the bencfit of Lender and Honower. This assi�r�mm�ent of rents�onstitutes an absotute assignment '
<br /> and not an asslgnment for additimal secnrity onfy.
<br /> �
<br /> Tf l.ender grves notice of brcach to Borrower. (a)all nnts received�S}Sorrower sty�11 be held by Bormwer as uustee �� .�, ��
<br /> - fot 6enefit of Lender only.to be applied to the sums secured by the 5esu.7ty InstrumrnL•(6)l.ender sha11 be enHtled to
<br /> -' collect and receive all of the rents of the Property:and(c)each tenant o�the Properry shali pay all renu due and uapaid to `
<br /> Lender or I.ender�s agent an L,end�r's written demand to the tenant. ' _ _
<br /> � Botrower ha9 na exauted any prioi ass�gnment of the rents and[�not and will not perfocm any act that would k-. -: ' , :
<br /> _ . ptevent Lender fiom acemsing its rights under t h is Patugaph 16: �.
<br /> Lender sLa1I no1 be nquired to enter upon,tafce control of or maintain the Praperty befare or after giring no6ce of
<br /> bn�ch to Barower. However.L.eeder or a jud�cially ap�ointed receiver may,do so at any timt there is a 6reach. My � ' .
<br /> app1iC�tioo of repts shili aat cure or waive any defwlt or mvatidate any ather nght or remedy af Lender. 'This acsignment � .
<br /> - _. ..ot raus of th�Pknpeiiy shill te�iinato whm the debt secund bY tiie Securiry Inshument is paid in full. �_� ,�_-:__< �- _
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<br /> • � . �mae3�oc�aK► , . .
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