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<br /> . . � . . � � �� �. ` � . .- � .94-loor�'�64 �
<br /> , paynaents.which a�e cefened to in Paragnp6 2,or chmae the�nount of suc8 paynxnts: My,-ra�au prnce�over ao . ,
<br /> -�mouet nequiied W pay a11 outstandin�,Lide�ess uader tUe Na�e and tlris Securicy lastrurtrerit afiail6e paid to the entity ' .
<br /> , � kgalty entitled tl�eto. , .
<br /> s. Fas. Lender may oQllecc fees�d chuges authorized by the Secretary. .
<br /> ' 9 Graa�ds tae AccekraHo�d Deb� ' . '
<br /> (s)Defadt. Latder any.exapt�s limited by ngulatiaas issued by tht.SaMetacS+in the cast of payment defaults.
<br /> , , � reqinre immediuepsyment in full of aU sums sec�uod 6y this Stcurity Instrument if:
<br /> — — (i)Bomuwer ci�fiutIts!ry failing m p4y in full any monthlY PaYtacnt teqwrod by ihis Secnriry Insuutfietn priot ' - - --
<br /> - - < to or on the dnc cf�te of the txat mondilY WY�� -
<br /> ; � (ii)�ts 6Y failing,for-a�."ricd of shiztY-daYs.ta pesform-anY-�-obliga!ions contaiaed in thi4 . � -
<br /> (A)S���� 6out Cr�edit Approv�l. Letder sha11.if pemntted by applicable taw and with the p�inr appcova!of tht �� �
<br />-� ��Y ��PaY�nt in full of aU the snms socuted by this Securiry(nstrurtxnt ifz �;=v
<br /> - (i)Ail or part of the P t a p e t t y�a a beneficial intcc+est irt a wst owning sU or part of the Propc�ty.is sold or �=�,;;__._
<br /> _ otherwise traasfar s d t o t h e r t h by d evise or d e s cen t)b y t h e B o rt o w c r.a n d �n_—
<br /> _ (ii)'I1�e Propetty is not accup'ied by the punchaser or graritee as his or ber principal midence.ur the purchaser �'='' ��-_ -
<br /> ed �-=—_---.
<br /> or grantee does so accupy the Prnperty but�lus or her ccedit has noe been app�aved in accord�nce �;;,,�_�
<br />- with the aquuements af the Se�etary• :�:��_�.-,�_
<br /> _ (c)No Waiva If ci�wnstances occur that would perinit Lender to reqtriie emmediate payment in full.but Lender �;`-�°':����w f
<br /> a
<br /> �es not suth ts Lender does not wa�ve iu rights with respect to subsequent events. - `'.` . ::'`�"''�-'
<br /> � PaY� ,
<br /> (d)Re�datioas at H[7D S�crehry. In many circumstances regulations issaed by the Sec�etary wili limit l�ender's �� ;,..��:�,::��:
<br /> - tights,in the case of payment defanIts,to cequirr.imtnediate payment�in full �f�lose if not paid. 'fltis �:�
<br /> Security r��+*+�ms•+t does not authorize aaeleration or forectosure if not rtnitted re ations of tt�e.5ecrctary. _ _—
<br /> (e)Mottgsgie Not Insured. Bortower agcees that shoutd this Security Insmiment and ihe note secared thereby noe � _—
<br /> - be eiig�'61e far insarance mider the Nationat Housing Act within 8 �pIIths �� ` =
<br /> datt hec�eof.l.ender may.at�ts option and nutwithstandiag anything in Paragrapl�9,icquire immediate payment in . " -
<br /> � fiill of all sums secu[ed by ttus Securicy Instrument A written statement of aay audwriud agrnt of the Secretary ���_
<br /> dated subsei�uent to 8 aoaths from the date hereof,decfining to insure this Security • �t,,:=
<br /> ��_ .. �� -
<br /> ,-....;. . In.auumea!aad the note secured thereby,sdall be deeined conclusive proof af such ineligibiliry. Motwithstanding d���_
<br /> the forcgoing.4his option may not 6e exercised by Leader when the unavailabiiity of insurance is sotely due to '°"-' �`�'
<br /> ?9�J'`.y. _.. . ..- _ - t'_
<br /> ,:;��;:V�� Lendei's fa�'Iure to rcmit a mortgage insurance premium to the.Secretary. • . ' �•:
<br /> L�-LL;.�-_�? I� ReinsMtemenL Borrower has a right to be reiustated if I.ender has cequired immediate payment in full because
<br /> �.,�4f�,.�,;•,;.`;',:5 of B�aimwer's faiture to pay an amount due under the•Note or this Security lnsdument This nght ap�lies even after '��•`'•
<br /> ���.'-"�?��'s':,;`=:�_ � fa�xJ�uure prpceedings are u�stituted. 'Ib zelnstate the Secupry Instrument, Bormwer shall tender m a lump sum ap �..- -'� °
<br /> :' �•�_�j�I�'4;��'�°•';�: , amutc�ts iequited ta'brirrg f3oirower's accoum cvment including,to the extent they are obiigatio�u of Borrower under this —t--�=---�
<br /> { ie
<br /> ' 4 d�{s_"�:,.' ��"
<br /> • �-'�.�?„_;,•:,.Y Sec�ity Instramen�foceclosvie cosu and r+easonable and ctiswmary aitor�eys'fees and exper�es properly assoc�iated with �:
<br /> �'�� �'t''�''�'`���'�'�' �" the fonctosure proveeding. iJpon rcinstatement by Borrower.this Securicy/nstrument and the obligations that it secures •�;-
<br /> � �`��=- �- � shal!rema�in in effect as if Lender•had noE nequired immediate payment in full. However.l.ender is nc�6 cequimd to petmtt
<br /> t� w,{k•..�'
<br /> ��`��"`'�'�-`: reimKatement if: (i)Lender has aeeepted reinstatement after the commencement of foreclosure n 4 wuhiit two
<br /> proaedi 8•_
<br /> = .. • „
<br /> � .�:.Y�. ��. �t'.. � . :
<br /> yl' ---�-• � yea�s ImmediateIy preceding the cammencement of a curre.ait foreclasure proceeding, (ii) reinstatement w�ll preclude ':. �
<br /> '��"•"�' `��� ° " '" forectnsure on different grounds m the future.or(iii)reir�state�aent will adversely affect the prionty of ttie lien crea[ed by �-�°. ;_
<br /> . , this Securiry Instrument. , :` ::
<br />_ �����t " � • ll. Borrower Not Released: Forbearance by Lender Not a Waiver. Extension of the a�e of payment ar � � ` t�
<br /> • , madification of amortization of the sums secured by this Secutity Instrument granted by Lender to any successor m interest � ,
<br /> ��.` J� � of Borrower shal!nnt operate to retease the liabiliry of the original Borrower or Borrower's successor in interest. Lender � -. .- ` -
<br /> ��r•-�- :"���. shall not be required to cammence proceedings agamst any successor in inrerest or refuse to estend ame for payment or �
<br /> �;�; �;�, ott�wise modify amortizauon of the sums secured by this Security Instrument by reason of any demand made by d�e i � .
<br /> .'v.�F�_; ;' ' original Barower or Borrower's successors in interes� Any forbearance by Lender in exercising any right or remedy sliall " � .
<br /> ;;:�;=,;:-:_ � • not be a waiver of or prectude the eaercise of anp right or remedy.. f.., „
<br /> b ' . 12. Suecessors and Assfgns Bound;J�nt and Several Liabllity:Co-SlgnerA. The covenanu and agreemenu of �'� �
<br /> ",.�;,.;;:,.•• � '°�' • this Security Instrument shall bind and benefit the successor.c and acsigns of Lender and Bomnwer,su6ject to the provisions -��-
<br /> �Y-.;-..�. � � . • of Paragraph 9.b. Bonower's covenants and agreements shall be joint and severul. Any BoROwer aho co-signs this � . . .
<br /> ..�_..�. .
<br /> �,z•,:,;_ .• - . Se�aety lnswment 6ut dces not eaecute the Note: (a)is ca,s;gning this Sccurity ln�uument only to mortgnge,graiai and €` � �
<br /> �,�Y. _., comvzgr that Borrower's interest in thc Property under the tertns of this Sceurity lnstrument:(b)is not pecsonally obligated to E � ', ,
<br /> • -�,, :. pay the sums secured by this Security In�trumer�and(c)agrecs that l.ehdcr:ind:u�y other 8orrower may agree to extend. �
<br /> : :•. . � modify.forbear or make any accommodations with regard to the terms of this Security Instrument or the IVote without that , • , .
<br /> � :rrr-:y��� ' Barower'sconscnt. f�
<br /> -l�. - ; ; ..,
<br /> ���`'`-' 13. Noticea Any notice to Barrower provided for in thiti Security Instrument shall be given by delivcring it or by . __
<br /> '��k,;__:,r` maii�g it by first class mail unless applicable taw rcyuir�es uu of another methad. 77ne notice shall be directed t�the ' { . • `
<br /> � �,,,.�,, Property Address or any other address Borrower designutes by notice ta Lender. Any notice to Lender shall be given by ;. . . • �•�
<br /> e
<br /> . '4"�'��' '- first class mail t�l.ender's address statcd herein or any address l,ender dtwign�tes by no�ice to Burtower. Any qatice � • . . `=�'�
<br /> �'���� rovided for in tlsis Securit Instrument sha11 be deemed to have been givesi fo Borrower or Lender whe�siven av provided f �
<br /> ��,ti�T:: y . . _:
<br /> � •,:;, ;{:., ln this paragraph. � -.: ..:
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<br /> fa:i,-: .` . 14. Governing Law;&verability This Security Instrument sfiall be gnverned by Federal law and the law of the G . • � � � �, -
<br /> � """�' jurisdiCtion in which the Property is tocated. In the event that any provision or clause of this Security Instrument ar the �
<br /> N�conflicts with ap�licable law.such conflict shall not affect other provisions of this Security Instrument or the Nute � �
<br /> - whici�can be given e ect without the conflicting provision. To this end the provisions of this Security Instrument and the t .
<br /> ,--'�--- -- __� Nde a�declaced w be severable. �.. . ... . .... _.
<br /> � IS. Borrow�er's Copy. Botrower shall be given one conformed copy of this Sccurity fnsUUment. :'
<br /> 16. Aasi�ment oP iteats. Borrower uncond�uonally ucsigns and transfers to Lender all the rents and nvenues of the `r _---�- ~•°-��`��
<br /> Pt+optrty. Barower,authorizes Lender or Lender's agents to aoltect the rents and revenues and hereby dlrects each tenant of '' �
<br /> � �e Properiy to pay thc rents to t�ender or Lender's agents. Howevcr.priar to l.ender's notice to Bomower of Bortower's f' ,
<br /> 6rach of any covenant or agreemet►t in the Secudry Instrument,Borrower shaU collect and receive all rents and revenues of �' : � •
<br /> the Property as Wstee for tlte benefit of l.ettder and Borrawcr. This assignment of rents constitutes an absolute assignment i .
<br /> and not an�ssZgnn�ent fdr additional secudty only. . �---- --.:- .. ..--,-
<br /> If I.ader gives nodce of 6nach to Ba�rrower. (a)al!renu received by Borrower shall be held b}+Borrower as trustee �
<br /> = fot bet�ft of Lender only.to be applitd to the sums secc^s�d by the Secutiry Inshummh,(b)Lender shall be entitled to _. _
<br /> - collect and ieceive all of the reats of the Property;and(c)ea�h tenant of the Ptaperty shall pay all rents dae and unpaid to � .' . .. _
<br /> Le�der or Lender's agent.on I.ender's written dem�nd to t}�tenant. ' '
<br /> Borrower hac not euecutod any pior�ssigmment of the rents and has not and will not perfonm any xt that would � ;_ ------ -
<br /> pevait Leeder from exercisin�its riEhts w�der tt�is Paragraph 16. � .
<br /> l,rnder ahsU not be�quued to enter upoo.take control of or maintaL�the Property befae or after giving notice of I • � ' .
<br /> bieach to Bon�wa. Hoaeva.l.en�er or a judicial1y appointed receiver may do so at any titae t6ae is a bneacd. My �• . ..
<br /> � appW;�oo oi�enb stul!nat c�u�e or w�ive aay defauTt or mvalidate any other rigM or nmedy of Lender. 7tiis acsigmnent '
<br /> dte�nts dtlte Ptopaty sh�ll termin�ta when tbe debt secstred by the Security Instrutnent is patd in full.
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