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<br /> paymente, which iue t�efetred to in Prraj{mp�2.or change the amount of Ruch�yments. Any exass proceed�over an
<br /> amoumrequfrod to p�y all aut�w�din�Indebtedness undec the Nae and thir Socurity Instrument�II be p�id 10 the mtity
<br /> le�ally entidod thercto.
<br /> -- 8. Fea. l,ender mxy collect fees end ctw�es authorized by the Secretary.
<br /> 9. Grounds far Accekmtton ot Debt.
<br /> •(�t)Dehul� L.endcr may,except as limitcd by rcguistians iscued by thr Secrct�ry in the car•e of ptymrnt defaulu.
<br /> .� . roquirc immedi�tepuyment in full of all sums securcd by thin Security In�trument iF
<br /> "" - - ----- - --- (I}Borrower defnults by failing to pay In full any monthly pnyment rcquired t+y thix Security instrument prlor
<br /> ; to or on thc due date of the ncxt monthly payme»t.or
<br /> (ii)Borrower defaults by failing.fnr n p:dod of thiny days,ta porforcn uny other obli�ationx contained in this
<br /> •j.':�_ _ Secudty Insuument.
<br /> -�'��� (b)Sale Without Credit Approval. Lcnder shall,if permitted by applicable luw and with the prio�approval of the
<br /> Secretary.requlre immediate payment in full of all the eums secured by this Security Inxtrument tf:
<br /> t (i)AU or part of the Prope�ty.or u beneficial intercst in u tnist ownin�ull or purt af the Property.i�sold or
<br /> _...'��� otherwise transferred(othcr than by devlse or descenq by the Borrower,and
<br /> - -- --"��"' (ii)The Propeny is not cecupied by the purchaser or gruntee as his�x her principul rcsidence,or the purchaser
<br /> �""°°" � ' � or grantee does so cecupy the Prc�perty but his or lur crcdit has not been approved in accordance
<br /> - � � ���`� with the requiremenGs of the Secretary.
<br /> _ .`�%;,: ,;,,,{ (e)N o W a i v e r. I f c i r c u m s t a n c e s o c c u r t h a t w o u l d p e r m i t L e n d e r t o r r,y u i re i m medinfc pa yment in futl,but Lender
<br /> ;�,�� �;��.. dces not requim such payments.Lender dacx not wuive itc rights with respect to subsequent events.
<br /> ._�,,. • ��'�yb. y (d)Re�ulationa ot HUD Secretary. In muny circumstances regulAtions issued by the Secretary will timit Lender's
<br /> .+�5+. R.�A•.�
<br /> - .,�,; ,.;. . ,, rights, in the case of payment defaults, to rec�uire immediate payment in full and foreclose if notpa id. This
<br /> � Security In�trument dnca not authorize accelerat�on or foreclosuce if not permiteed by regulations of the Seeretary.
<br /> � (e)Mortgage Not Insured. Bocrower agrees thut should this Security ln tnime t and the note secured thereby not
<br /> be eligible for insurance under the National Housins Act within � ■oa`�hs from the
<br /> ��..,'..< ;. t in
<br /> E date hereof,i.endcr muy.Ut iG�option and notwithstanding Anything in P.uagraph 9,rcyuire immcdiate paymen
<br /> ;�`'i° • ` •- •f::`='r full of all sums secured b�t���S���ity Instrument. A written statement of uny uuthorized agent of the Secretery
<br /> . � dated subsequcnt to from the date hereof,declining to insure ihis Serurity
<br /> . ,� . Instrument and the note secured thereby,shall be deemed conclusive proof of such incligibility. Notwithstunding
<br /> the forcgoing.this option may nat be exercised by Lender when the unavailnbiliry of insuronce is salely due to
<br /> Lender's failure to remit a mortgnge insurunce premium to the Secretary.
<br /> .: _ �.' �, �,,,� 10. Refnstatement. Borrowcr has a nght to be reinstated if Lendcr has required immedIatc payment in full becausc
<br /> ,. . � of Borrawer's failure to pay an amount due under the•Note or this Security Inst�ument. This r�ght applicti even nfter
<br /> �. ' ` �' foreclosure proceedings are instituted. To rcinstate the Securiry Inctniment, Borrower shall tcnder in a lump sum ull
<br /> --_--_ __ ,_ --=--- amounts rr.quircd io•bring Borros:er�;account current including,to thc extent they�m�hliaatiuns of Borrower under this
<br /> •�� � � Security Instrument,forcclosure costs and rea,onuble:►nd customury uttomeyx'fees and expenses properly associated with
<br /> � the foreclosure proceedins. Upon reinstutement by Borrawer,thix Securiry instrument und the obli�ations that it securcs
<br /> . shull remain in effect us if Lender hud not reyuired immedinte payment in full. However.Lcnder is not required to permit
<br /> �; reinstatement if: (i) Lende�has accepted remstatement ufter the cammencement of foreclosurc proceedtngs withm two
<br /> � years immedintcly preceding the commencemem of o currcnt forcclosure procceding. (��) reinstatement will praclude
<br /> ., foreclosure on different grounds in thc futute,or(iiil reinstatement wili adversely uffect the priority of the lien created by
<br /> this Sccurity Instrumcnt.
<br /> • ll. Borrower Not Released; Farbearance by I.ender Not a Wuiver. Extension of the timc of payment or
<br /> „ modification of amortizution of the sums�ecured by this Srcurity In�trument grunted by Lender to:u�y successor m mtercst
<br /> _ . � of Bormwer shaU not opernte to releuse the liubility of the originui Borcower or Borrower's successor in interest. I.ender
<br /> w� • shali not be required to commence proceedingti uguinst any �ucrr�sor in intcrcrt or refuse to extend time for payment or
<br /> - ►� otherwisc modify umortization of thr �ums securcJ by th'ix Sccurity Instrwnrnt by reu.on of uny demand mude by the
<br /> /�, . ; original Borrower or Borrower's tiuccessors in intcm.t. Any fortx:arunce by Lender in exercising any right or remedy shall
<br /> • . - • not be u waiver of or preclude thc exercise of uny right or remedy.
<br /> ' 12. Successors and AssiRns Bound:Joint and Several Liability;Ca•Si�ners. Thc c:ovcnants and ugrcements of
<br /> . this Security Instrument shull bind und benefit the succe�xnrs and utisigns ot'Lender and Borrower,zubject to the provisions
<br /> • �� of Paragruph 9.b. Borrowcr's covcnunts und ugrecmcnts shull lx jomt and sevcral. Any Bnrrower who co-signs this
<br /> ' Security Instrument but doc:s not exerute the Nota (u)is ro-,igning this Srcurity Instrument only to mongage,grant and
<br /> ~ convey thut Borrowcr�intcrcst in thc Property unJcr thc tcrmti of thiti Sccurity Instrumenr.(b>is nat penonally abliguted to
<br /> pay thc sumz sccurcd by thix Sccurity In.rtrument;and(c)ugrcc.ih.�t l.cndcr:►nd uny othrr Borrowcr muy agrec to cxtend,
<br /> �.. �.,,� modify,forbear or m:�kc any uccommodutions with regurd to the term�of thi.Sccunry(n.trument or the Note without that
<br /> : Borrower's consent.
<br /> �� �' '�~ • 13. Notices. Any notice to Borcow�r providcd for in this Serurity Instrument shall Ix givrn by delivering it or by
<br /> ;r,�:.:,;.
<br /> :�.•_,,�•., nmiling it by flr,t rlu..mail unlesti applicable luw rcquires use of cmothcr methcxl. The notice shull be directed to the
<br /> ��,• ., Pmperty Address or uny othcr uddress Bormwcr designm�s by notice to LrnJer. Any natirr to Lcndcr shull bc given by '
<br /> first class mail to Lcnder'� addrcsx xtuted hcrcin or uny uddmss l.endrr de�ignatc� by noticr to Borcower. Any notice
<br /> Qrovided for in this Security Instrumcnt.huU ix;dccmeJ to huvc lxen givcn to l3orrower or Lender when given As provided
<br /> , •�, m this paragraph.
<br /> 14. GoverntnR Law:Severpbility. This Sccurity Instrumrnt shiill tx govemrd by Fcdcrul luw and the law of thc
<br /> �", ' ' jurisJiction in which the Property is located. ln the event that any provisi•m or clautir nf thi�Srcurity InStrument or the
<br /> � . "''� '� Note conflicts with applicuble law,such conflict �hall not affert e�thrr provisionti of thi.Securiry Intitrument ur the Notc
<br /> ` "�• ' • which can be given effect without the conflicting prvvitiion. Tii this enJ the provi,iun+of thi�Security Instrument and the
<br /> '�"' `y"='=� ' � ' Note are declamd to tx scvcrublc.
<br /> '�w���: . '�,°:`;�^;�'� 1S. Borrower's Copy. Borrower shull be given one conti�rmed copy oF thi,Serurity Instrument.
<br /> ����-�- •;• � 1 6. Ass) nment oP Rents. Borrower unconditionuU .l\ti� m und trun�fcn tu LenJcr all the rcnts und revcnucs of thc
<br /> . ��y.�r.;..;
<br /> ;,: '� i.�, Property. Rorrower uutt►oriaes Lender or Lender's agents to collect the nnt.und revenues:u�J hereby dirccts each tenanc of
<br /> �__— � �' the Property to p:�y the rents to Lender or Lendcr;u�cnts. However,prior to�.cndcr's noticc ro Bocrower of Borrowcr's
<br /> _�� breach of nny covcnant or�sgn.�cment in the Security Inst►ument,tiorrower shall collect und receive uq r�nts and revenues uf
<br /> — the Fh�opeRy as trustec for the bcnefit of Lendcr;ind Borrower. This�ssignment vf rents constitutcs an absolute s�ssignment
<br /> � 6 ` uid not an ossignment fur udditional security only. �
<br /> iF t I.wiw�r oivw.nntirs.nF hn.nr6 t.�Rnemul�r• !nl sll mnlc nrrPivPrl hv Rnrmwr+r�ht��l tfe IIeId bV B0170WC1'd5 IIUSiCe
<br /> - _: ---�..�-o-•--••'_-- -. _._.._...---.._.._.. .-•—•'--°-•---- -- ..
<br /> _ -- for benefit of Lernier only,to bc upplied to the sums securcd by the Sccurity Instrument;(b)Lendcr shall be entitled to
<br /> �- collect and receive all of the rcnts cf the Property;and(c)each tenunt of the l�erty shall pay aQ rents due and unpaid to
<br /> __ I.eoder o�Lenderl agent on Lcnders writtcn demand to the tenunt.
<br /> Botrower hus not ezecuted any prior assignment of the rcnts und h�.c not ond wilt nnt perform any act that would
<br /> provent I.ender from exereising its nghts undcr this Paragraph 16.
<br /> Lender shell not be required to enter upon,teke ccmtrol of or maintnin the Property beforc or ufter giving notice of
<br /> M�ench ro Borrower. However,Lender c�r�judiciully ap�nintcd mceiver may do so•rt any timc thet�e is a brcach. Any
<br /> application of rents shall not curc ur wytve any default or mvulidate uny other right or remedy of Lcnder. 'lliis assignment
<br /> of raus of the f�roperty shall terminate when the debt xcured by the Security instrument is pa►d in full.
<br /> (paRt�of�pugesl
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