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<br /> .�:, r�r�,•�eJ�aee iefarea�w�p.r�, 2.or chn�w��of s�cl,p.ya�s. Any exoas poceeas a�ver�n
<br /> �. ' ���P�Y��E p��under the Nate aad tlti�Sea�uity Imutimeht s6all be p�id`ta the enity.
<br /> �entitted tba�eto. . . . . . • . . .
<br /> F�e�.Lrender may oollec.K fxs an�ch�rges awhorized 6Y the Sec�mrS►-
<br /> ! GraMsforA�cekratla�dDebt. � � � '
<br /> Is)Dd�f: I.erider may.except as Wnital by negoluians is.med by the Secreta�y ia the ase of paym��def�ts,
<br /> , - , �quioe innnediaie p�yment in fuU of�suans aenued by this Sccurrty�nstr�ent i� ,
<br /> (i)Ba�rnwet defanits by fiiiing W pty in fult u►y monthly paymeat teqtrired by d�ic Socutity Inst�umeat priot .
<br /> � �to ar oa the due d�te ottbe ne�t m�onthly pR�m�eru,or �
<br /> � ('u'j��by fa7ing,for a penod of thirty Qays,to perfam aa�r otbGr obligatiaas contained in this
<br /> @)S�te�WNMoot Ccc�Approval. Lend�sha11,if l�nit�d bY 1PPlicable iaw and widr the prior appmvat of t6e
<br /> 5ocrchry�iequiie immediate puyment in full of aU the sUms securod by this Secuzity IastrmneM if•
<br /> (i)M ar patt of t�e Pkopecty.a a bencfxaal auecest in a uuu oaming.all or put of tix Ptopetty.is sold or
<br /> . odurwise tnnsfemed(ad�er thm by devise or descent)by the Bamwer,and
<br /> ' (u7'Ibe l�tapeity is na ocx�ied by d�e piu�haser cr grancet a�his or her principal nsidenc�or tLe pimchascr "
<br /> . a grantoc das so ocxwpy tMe Hnpe�ty but lus ar her caedit has not been appmved in a�cadaace
<br /> with tl�cequuema�ts of the Secretary. _ -
<br /> (c)No Waiser. If circarnstu�es accur thu aould pecmrt Letdet to Rquire irrunediate paytnent in fiill,but Lender —
<br /> does nocieqaue su�h p�ymeats,l.ender does not waive its nghts with iespe�.�t to su�seguent events. ____
<br /> (d)Re�htio�s d HIJU Secr+eW'9• In many c�amstznces regulations issned Ay s#►e Secnetary wiD limit i.eader� -�
<br /> rights.in the case of payment defauIts.to teqair� innnediate payment in full a�3 fonclose if not paid 'ibis �
<br /> Securlty Inshumcnt does not authoriu accele�ation or fonclosure if aot permitted 6y mgulatians of the Sec�etary. . --
<br /> , • (e)Mort�qe Nd Im�ed. Soitnwer ag�ees that stwuld this Se.cutityr Instrument afid the Aafe s�t6e�:�ot :<_�
<br /> be tligi'bk fa iasur��-ander the Natioaal Ha�sing Act within S �� � . � � ' £^�:yta�''
<br /> date he�en�I.ender may,at its option and,�notwithstanding anything in ParagrapYa�9�r.��ire�i�diate�pa}i�ui. .
<br /> fuU o�all sa�ac saonA hy this,$ecuriry Instzument A wriuen statement of any air�"i6rize�l agec�ol'the Se�'�3• . �-;•-.:
<br /> � ' • dated subseqaent m � 8 monr,ns • � from the date hereof.declining ta-ms�e this Se�iiq :=�*;
<br /> Insonuntnt and the aote sec�red thenhjr.shall be deemecl conclusive praof of such ineligibility:"�otwiths�ct�g -
<br /> ' the fonegoing,this optio»may not be e�ce�cised by Lender when the unavailabiliry of insurance is solety_�io `
<br /> Y.ender*s failiue to iemit a mortgage i�surance ptemium to the Secretacy.
<br /> 10 Reinstateq7ent Bomower t�as a right to be ninstated if Lender has reqnired immediate payment in full becau5e
<br /> of Bomnwtris faitcc�to pay an amount d�e under the•Note or this Sec�uity lnstcument. This n�ht apy�lies even aftcr � ;•s
<br /> fonc losure p i o c��are u�s t i t u t e d. To n i ns t a t e t h e S e c u r i ty I n s tr u m e n t,B o r r o w e r s h a t l t e n d e r�n a [u m p s w t i a l l .
<br /> amqunts requined c�+�ring Bonvwer's account current including,to the extenE they are abligations of Boaower under this
<br /> Secarity In3hument,foreclosure costs and reasanable and customary attomeys'fees and expenses properly associated with �; .
<br /> ' • the foi�eclos�me proceeding. Upon ieinstatement by Borrower.tfijs Secusiry Instrument and the obligations that it secwes ____
<br /> shall remain in effect as if Lender had not re�uired immediate payment in full. However,l.ender is not mquired to�ermit �
<br /> . • ieinstatemem if: (i)Le�1er has atcepted nu�statement aftec the commencement of forectosu:e prace2dings witWn two .. '�':.•
<br /> ` yeats immediatety pQecedin8 the a�t of a curnnt foreclosure pmceeding, (ii) reinstaeement wili preclude
<br /> foroclosuce on diffesent grounds in the futute,ara#iii)reinstatement wiq ad1ersely affect the prioriry of tl�e lien cmated by
<br /> ' this Seeurity Jnsuument �r�,'~..
<br /> 11. Borro�rer Not Released; Forbearince by Lender Not a Waiver. E�ctension of the time of payment or .
<br /> modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest '
<br /> of Borrower�shall not operate ta retease the liabiliry of the original Borrower or Borrower�s successor in interest. Lender
<br /> shall nat be required to commence proceedings against mry suecessor in interest or refuse to extend dme for pa ent or -
<br /> otherwise modit�r amortization of the sums secured by this Security Instrument by reason of any demand�by the
<br /> , � original Borrower or Borrowers successors in interesl. My forbcarance by Lcnder in exercising any right or r�emedy sha�l
<br /> not be a waiver of or preclude the exercise of any right or remedy.
<br /> ' 12. Suoas.gors and Assigas Boand;JWnt and Several Liability;Co-Signer� T1�e covenanu and agreements of
<br /> this Security Instrument shall bind and benefit the successors and acsigns oF�.ender and Bo:rower.subject to the provisions
<br /> ' of Paragraph 9.b. Borrower's covenants and�eements shall be joiat a*,w siweral. Any Borrower who co-signs this
<br /> , Security InsM�ment but does not execute Ihe l���e: (a)is co-sigr�ing this Ssa,:rity Insuument only to mortgage.grant and E..,....
<br /> • convey that Bortower's interest in the Pmperty under the ter,ts of this 5ecurity lnstrument;(b)is not pe�sonally o6ligated to • _
<br /> pay the sums secured by thls Security Instrumen�and(c)a�:�that l.ender and any other Bonower may agree to eatend,
<br /> mod�fy.forbear or make arry accammodaGans with regard tcn�I�z terms of this Security Insuument or the Note without that
<br /> Borrower's wnsen� ,
<br /> l3. Notkes. Any notice to Borrower provided far in this Security Insuumem shall be given by deTivering it or by r: �.
<br /> mailing it by first ctass mai!unless,ap iicable law requires use,of armtfier method. The notice shail be d'u�ected to the • "
<br /> Property Address or any other address�otrower designates by notice to Lender. Any notice to Lender shall be given by �
<br /> first class mail to Lender's address stated herein or any address Lender designates by notice to Borrower. Any nodce
<br /> provided for in this Security lnstrument shall be deemed to havc been given to�orrowec or Lender when given as provideA
<br /> in this paragraph. �
<br /> 14. Governin�Lpw;Severabilfty. 7teis Security Instrument shall be govemed by Federal law a:��the taw of the i;, .
<br /> jurisdiction 1n which thep�op�rty is focate�. T.�_G'�e event that any provision or ctause of this 5ecara�d�t�ment ot the �
<br /> Note conflicts with applicabfe law.such cor.f[i,x sfiall not affect other provisions of this Security t:�.���t or the Note
<br /> which can be given effect withom the conflict,::g provision. 7b t6is end the provisions of this Securir��^sttument am��:e
<br /> Note are declared to be sevtrabte. �
<br /> . 15. Borrower's�p y. B�rower shal�be:given one confomied copy of this Secudty instrumen� , . '
<br /> 16. Aaeiaemeaf d�tenb. Borrowet u.ncondirionaily assigns and transfers to Lcmder a11 the rents aa�r�.wenues oi the ' �
<br /> Ploperty. Bonower auWorizes L.erWer or Lender�agents to collect the renu and revenues and henby di�xts esch tenant of
<br /> � the Ptoperty to psy the tents to Lenrkr or,Lendet�s agents. However.prior to Lender's notia to Borrawer of Borrower�s
<br /> ' 6re�ch of any covemnt a agroemmt in the Security Instrument.Borrower shall collcet arid reaive all nnts and nevenues of '
<br /> the Fnoperty aa tr�sta for the berufit of Lender and Borrower. This assignment of rents constitutes an absotnte assignment ��
<br /> `aod not�o atsigtut�eot far addiGonal security oNy. ••
<br /> V l�et�der sivq notice of bnach W Bamwer. (a)atl nnts meived by BoROwer sha�l be held by 8orrower as trusta _
<br /> ' , foF ba�efR of LeMer aily.to be�odkd to the auros socuced by the Security inswnxnh(b)Lerader shall 6e en6tkd ro _
<br /> ootk+ct and receive all of the rents of the PYoperty;aed(c)ea�h tenam of the Plraperty shall pay a]!rents due and unpaid ta ' -
<br /> l.ender or Leader�s agent on Lender�written demand to the tenant. -
<br /> Ha�eower fw not execwed aoy prior assignmrnt of t6e ients and hza not and will nat perfotm any act tb�t woWd
<br /> p�eveet l�eader�nm exet�cis ita d�ts ueder tbis Pangr�ph 16. �
<br /> L�dar�ln1l eot be�ed w ader upqn.talce control of or m�irn�the Ptoperly bcfae or after giving nvtice of :: (
<br /> '� 6cpeb to Haru�vtr.�}�ow�eva.l.ader a s jud��c�islly apQointed�ecetver may do so at any time tLa�e is s hneac� My ; y
<br /> appiicada�ad��11 not cu�s or�va�ve any defi�ult a mv�1idate any o�her.riaht or Kmed�r of Lender. 'fiis.assiyuna►t
<br /> d�als o!the.Rq�paty�haU�andm�e wUea tl�e deM tecurod by the Security Instruinent is pa�d ia fWl. . ._�"'
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