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<br /> - 100848
<br /> � pRyrnenu,which wo�eferred to in 2.or chonga the�unount of such pay94. Any excear pracoeds over ao
<br /> amountroq ui�ed to pay�II ouawidin�i���N��wir Security Inrtrument�hdl 6e p�id W tho enNty
<br /> kaall ent�qal thereto.
<br /> ti— �. Fea. I.ender tnay collect fec�wid chv�es aultiotiud by the Secrctwy.
<br /> 9. Grouad��or Accekrntloo af Debt.
<br /> — _ (s)UetaulA Lcndcr may,except�a limited by roguletions issued by thc Secrctary io the ca�e of payment defaultr.
<br /> •� ___ �equirc immediatepayment in full of all suma secured by thie Socu�it,y Inglrument if: �
<br /> t• (q Borouwer dcfaulta by failing to psy in fuN Any monihly payment n:yulrcd by this Sccurity Instrument prior _
<br /> �° -- to ar on the due dale of the next monthly paymen4 or
<br /> (ii)Bortower defAUlt�by failinQ.for a pedod aP thirty days.to perform any other obliQutions contait�ed in this
<br /> - J Security lespumant.
<br /> -�----���==�,a,��,�, (b�e N�IthaiN Credit Approval. Lende�shall.if permined by applicuble law and with the prior approvW of the -
<br /> .��,pp�r���q�y �ry.rcquiro immediate payment in full of all the Rums isecurcd by thia S�cu�ity instrument if: _
<br /> -- ' -- -- (i)All or part oi the Pruperty.or a beneflcinl inte�st in a uus�ownin�all or pe�t of the Propeny,ia sold or
<br /> � ��,���,q���;� otherwire tron.cferned(othcr than by dcvise or descent)by�he Borrower,t+nd
<br /> =-����------ (ii)The Prape�ty is not occupied by the purchaser or gmntee as his ur her princlpaf residence,or the purchaser
<br /> � �u�v�`'�� or grantee does so occupy the Properry but his or her credil hAS nut been approved in accordance
<br /> ����"� with the requircmenta of tho Secrctery. �
<br /> �''`�""•'�iati•'^` �; ` (e)No Wsdver. If circumswncec accur thet would permit Lendar to requine immedinte payment in full,but l.ender --
<br /> sy�"��'�"""r�:f�is`.'�,,� .
<br /> �.�,r�,,, docs not rcquire suchpayments,Le�der does not waive itx�ights with respect to subsequent events.
<br /> ���.�ha;�� (d)Re�ulatiaw ot HUD Seeretwy. In mony circumstances regulatbns ls�aued by�he Secrctary will limit Lender?�
<br /> , ,.,_;'`�',,q_' rights. m the case of payment defaults,�o �q uirc immedintc payment in Pull and foreclose if notpoid. This
<br /> ;�;_::;, „ , ;o; Security Instrument docs not authoriu ucceleration or foreclosure if not permkted by Rgulations of the Secretary.
<br /> (e)Mortg�e NW Insured. Borrower agrees thut xhould thic Security lnstrument ond the note securcd ther+eby not _
<br /> � � =�' .. " bc eligibla for insuronce under the National Huusi�g Act within from the _
<br /> t date hereof,Lender may,ut its option und notwithstanding unything in Porngruph 9,require immediate payment in _
<br /> � � `'"+r"'� full of all sums secured by this Security Instrument. A written statement of nny authorized agent of the Secretary
<br />- 1 :,��:4 �� dated subsequenl to from the date hereof,dedining ta insure this Securiry
<br /> .�'.,..
<br />• ,; '°"ttklc�.�,•. . In�pument and the note secured thareby,shnll be deemed eonclusive pmof of nuch lneligibility. Notwilhatanding
<br /> : � the foregoing, �his option may not be eaerclsed by Lender when the unovailobility of insuronce ix solely due to
<br /> ' ' � �' " Lender's feilure to remit a mortgage insurunce premium to the Secrewry•.
<br /> ����°-����r•' '� '" � 10. Itein�twkmea� Bormwer has a right ta be reinstated if Lender hm+required immedintc payment in full becuuse
<br /> ,:,�;,•.�7;�"_� �"��a•" of 8omower's fa�lure to pay an ++nwunt due under the•Note or this Secu�iry Inctrument, This righl applies even uftcr
<br /> '�"�'"` ';� � fareclosure praceedings are mstituted. 7b reinstate �iie Securily Instrument, Borrowcr shall tender in a lump sum nll
<br /> d�:�,�s, z.:.G.:-,,_,.
<br /> -` -� --•-�- - :�. -� amounts required tm bring Hormwer's account wr���t iiwluding,to thc cxicat they are obligations of 9orrower undcr lhiµ
<br /> �• . �• Secudty Instrument,foreclasure cosls and reusonnble and catitomary attomeys'feeti and expenses prope�ly associated with
<br /> _ ^ ; ' ���" ���� ' thc foreclosure proceeding. Upc►n reinstntement by Borrower,this Security lnxtn�ment and the obbgations that it ssecures
<br /> ��;;���'��' : �' �' ,�' shall remain in effect av if Lender hud not►equired immedinte payment i�full. Howevcr,l.ender is not required to permit
<br /> • � ,: "' . reinstatement iF. (i) Lender hus accepted reinstntemeot ufter the commencement of forecbqure prceeedings withm two
<br /> . � . '' . years immediately preceding the commencement of u curcent foreclosure praeeding, (ii) neinstutement w�ll preclude
<br /> • � '�•� forectosure on different grounds in the future,or(iii)reinatutemant will advenely nffect the priority af the lien creoted by
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<br /> � ' thia Securitq Inswment.
<br /> v "� �"" � 11. Borrower Not Released; Forbearance b� Lender Not A Waiver. Extension of the time of payment ar _
<br /> ` ' � � ' �: modiflcation of amortization of the sums secured by this Security Inxtrument grunted by Lender to any successor in interest
<br /> " ' of Borrower shall not opemte to release the liubili�y oi'the nriginul Borrawcr or Bcxrowcr's successor in intere+t. Lendcr
<br /> --' ;`,,��.;•' :-';`;y'~-,; shall not be required to commence pracecdingti aguinst nny tiucccx,or in in�erext or refuse to exrend time for payment or
<br /> �, i� g' .• ' ,. .°�`."' otherwise madify amonizution of the sums tiecured by this Security Ins�rument by reu�on of uny demund mude by Ihe =
<br /> � � . original Bormwer or Borrower's succcssors in interest. Any forbeurornrne by Lender in exercixing nny right or remedy shall
<br /> ; ' � � ���� not be a wAiver of or preclude thc exercise of uny rlght or remedy.
<br /> i:;, . • � �� 12. Succexsors s�nd Asslgns Bound:Joint and Several LlabUfty;Co-Sigoers. The covenams nnd ugreements of �.
<br /> . '' � '" this Security Inatrument shnll bind and benefit the ruccesson und us+igns of Lendcr und Borrower,subject to the provisions
<br /> 1 ;j`, .
<br /> lt
<br /> ��l'r; � of Paragraph 9.b. Borrower+covenuntx und ugnements hhull be joim und several. Any Burrower who co-signs this -
<br /> ' "•�`: Secu�ity Inxtrument bu�dces not exeeute the Note: (n)is co-signing Ihis Security In.trument only to mortguge,grant and �
<br /> ;""'"""�'„`,����•� convey that Borrower y interer�in the Propeny under�he terms of�his Security Inxtrument;(b)i.not per�onully obligated to
<br /> - � pey Ihe sums!�ecured by this Securily lnalrument:und(c)ugrecs iht�t Lrnder und uny other Borruwer may ogree to extend, ��
<br /> _ : ,;;� ' . . modify,forbetv or mnke uny accommodations wilh regard to�he tertnm of this Secunty Instrument or the Nwe wilhout thnt
<br /> �:�:�, �:.'.•. . Bomower's consent. �
<br /> �,;,`;;: �..�,- •. 13. Notices. Any notice to Borrower provided far in thix Securiry Instrument shull I+e Fiven by delivering it or by
<br /> yy � ••��;: ,.., � muiling it by lirst clusx muil unksx appliceble law rcyuircx usc oF another methal. The notirr shull be dinected to the
<br /> ,+�, �1�,;':.;;•;�^ Propeny Addrexx or nny other address Borrower dexignutes by notice to Lender. Any noticc to Lender shall be given by
<br /> � ' �.:" first cless mail to Lender's addmss swted hereln or i+ny uddress l.ender designatr, by notice to Bomower. Any notice
<br /> � ��•����• ..�•. '.• , provided for in this Security Ins�rumcnt shnll be deemed�o huvc becn givcn to Horrower ur Lendcr whcn given as provided
<br /> .�•• °•� "•� � � � in thia parogrAph.
<br /> _j,-,` ��'� •':�•;,' •. 14. GovernMg Lew:Severabllity. This Securi�y Instrument shall►x governed by Fcdernl luw nnd the luw of�he _
<br /> � ••' �•"`�'�'' ° 3urisdiction in which the Propany is located. In the event thu�uny provision or cluu.r of this Security instrument or the
<br /> � •""''"�':�����'�'�� ��.�~.' Note conflict�with np licnble law,such cunflict shull not afPec�other provi�ion. of�his Security Inxtrument or the Nate
<br /> : .. . .,,<<si' � -
<br /> " . :',„,:. �; , which cun be given ef ert withou� the contlicting provision. 7i�this end the provisium��f this Security Instrument and d�e
<br /> '�°`� -;4�,�^;.; � Note aie declnred to be severuble.
<br /> _ ' �.��:ti. ," . . r 15• Borrower's Copy. Borrowcr shull bc given onc confi�rmed a►py uf this S��urity In�trument.
<br /> � ,,r,�n�;,,.,�;.^ •: 16. Asslgnment of Rents. Borrower unconditionully a4signs c�nd tr;u►xfer�to Lender all the rents und revenues of�he _
<br /> �_ .�•. ,,�,.' Property. 8ormwer au�horizes Lender o�Lender's agents ro collec�the rcms unJ rcvenues and hereby din:cts euch tennnt oF G
<br /> _�?����tK"� � `;�: the Property to pay the r�en4�to Lender or Lender's a�eents. However,prior to Lender;notice to Borrower of Bortower's F.
<br /> ..� �'�'�*'� breach of any covenant or agreement in the Security Instrument,Borrower shull collect und receive all rcnts nnd revenu�s of �
<br /> __-__ _- the Property as truatee for thP benetit of Lender and Borrowcr. This assignment of rents constiwtea on absolutc a+signmxnt �
<br /> — end not an assi�nment for additional security only. •
<br /> ;_ - �..enaer g�res�nn��z o� m:u ., � . � . . • . -, _
<br /> - ___ — for benefit of Lender only,to be applied to the sums securecl by the Security Inswment; (b)Lender shall be entitled to f
<br /> collect and t�eceive all of the rents of the Property und(c)euch tenant of�he Property Rhall pay all rents due and unpuid to
<br /> _ l.ender or Lender's agent on Lender�written demond to the tennnt. ;
<br /> - Bormwer has not executed any prior assignment of the rents and hus oot and will not pert'om�ony act that wauW
<br /> - -- p�e,weM Lender from exercising its dghts under this Paragmph 16.
<br /> l.ender ahs�ll not bo�equired to enter upon,take control of or mainwin the Property before or after giving no�ice of
<br /> Me�ch to Bwrnwer. However,i..ender or a judlcfally np�oinuxf roceiver muy do so ut any time there ix a bnc�ch. Any
<br /> applicatian of rcnla et�ll not cure or wdve any default or invalidatc wny other right or nemedy of Lxnder. 71�is�i�nment
<br /> of�of the Piroparty shsll tem�uue when the debt secw�ed by�he Secunty Instrument is paid in full.
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