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<br /> the monthly p�ymente, which are refened to tn p�nYnph 2, or ctunQe tha amount ot auch piyments. Any excoes
<br /> proceede over�n�mount required to p�y�II ouutsndi�indebtedne�under tho Note tnd thlt Security lnstrument ihall
<br /> be paid to the anttty lqµily entitlad tha�ew.
<br /> -_ —= 8.Pea�.[.ender m�y collect teer and char�ee authorized by the Secroury.
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<br /> �� 9.(irouad�tor Accelerattoa ot Debt.
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<br /> ; ' ' , - (aI Detault. I.r:ndnr mt+y, c+xr.ept aa Umitzd by re�ulatiotw tssueci by the Secretary in the case of p�yment �-
<br /> ; ' " �, defaulte,requiro immediate payment in[ull oi all aums aecured by this Security Instrumant if:
<br /> - - `�""`�-"°'`� `7,�►'_� (i) Borrower detaulta by t�iling ta pay in full any monthly ptyment required by this Sacurity Instrument
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<br /> prior to or on the due date ot the next monthly pryment,or <• .,-_-.
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<br /> �„�,,,,g,°� (ii) Borrower defaults by iailin�,far a peciod oi thirty days, to perform any other oblieations contained in �� -�`•�•-•-=_-�"
<br /> ���5�� thia Security[nstrument.
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<br /> -"a"`�``'�'"''`�' (b)S�le Without Credit Apptoval. I.ender shall,if permttted by epplic�ble law snd with the prior approval
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<br /> �--�--:--�. - -�-- - -: -�;y of the Secrctary,require immediau payment in tull o[all sums secured by thia Security Instrument if:
<br /> _=.:���'u-��-•�r�v (i)Al!or part of the Property,or a benettcial intereat in a trust owning all or part of the Property,is sold or
<br /> �7�..<- •�-•�•�' '�` � otherwiae trtnsferrod(oth�r than by devise or descent)by the Borrower,and ---
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<br /> W�_y.�.,..:�:i (ii� The Property is not occupied by the purch�ser or �rantee as his or her principal residence. or the r •�'"`�°"`-
<br /> � � "=�•^„•• ,� purch�ser or�ranta does so occupy the Property but his or her cre�iit has not been approved in accord�nce C-- -- •r��'-
<br /> �•�•�� with the requiroments of the Sa;roury. �':���.
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<br /> � (c) No W�iver. If circumstances occur thit would permit Lendec to cequire immodiate�ayment in full,but ��:='
<br /> - ' I.ender does not require such payments,I,ender does not wai��e ita ri�hts with respect to subsequent events.
<br /> •T.�--...K . . �• �.�.—
<br /> ' • (d) Ro ul�tions of HUD Secret�r In man circumstances re ulations irsued b the Secreter will limit °'�^• :�
<br /> � Y• Y 8 Y Y �" '
<br /> �t��,,,: :. L.ender's rights in the case of piyment deisultg to require immediate payment in full and forecluse if not paid. ' '
<br /> �-.'?. This Security Instrument does not authoriu acaleration or foreclosure i{not permitted by re�ulations of the �;�:__-�
<br /> S�reury. Nrr" :�.r.::.�
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<br /> . (e) AiortYa�e Not Insured. Borrower agrees that should this Security Instrument and the Note secured ' .��,,,__
<br /> thereby not be eligible for insurance under the National Housing Act within 60 days �ram the date hereof, ��-;,ti+y,r,,;:-
<br /> .,,:rc,r,a,:�,_:.�:_-,�,,.,,� Lender may,at its option and notwithsundinE anything in paragraph 9,require immediate payment in fuU of all .;;.:,;,�,•� _
<br /> � � � . -- sums secured by this Security lnstrument.A written statement ot any authorized agent of the Secretary dated �'���"_?-��`",.--
<br /> , subsequent to 60 days from the date hereof,declining to insure this Security Instrument and the Note secured f , `�
<br /> , � thereby.shall be deemed conclusive proof of such ineligibility.Notwithstanding the foregoing,this option may I�� ����� � � �=
<br /> / not be exercised by Lender when the unavailability of insurance is solely due to Lender's failure to remit a s -
<br /> ' mortga�e insutance premium to the Secretary. ���'
<br /> , . � �`-�' _
<br /> 10. Reinatatement. Aorrower has a right to be reinstated if Lender has required immediate payment in full � +�'3` `:
<br /> because of Borrower's failure to pay an amount due under the Note or this Security Instrument.This right applies even i
<br /> , after foreclosure prceeedings are instiwted.To reinstate the Security Instrument,Borrower shall tender in a lump sum �,. ..;;,.,,, �
<br /> -: all amounts raquired to bring Borrower's account current including, to the extent they are obligations of Borrower �
<br /> � .� . � . under this Security Instrument,forxlosure costs and reasonable and customary attorneys'fees and expenses properly =
<br /> . ` � associated with the foreclosure prceeeding. Upon reinstatement by Horrower, this Szcurity Instrument and the �'
<br /> . • obligations that it secur�shall remain in effect as ii I.ender had not required immediate payment in full. However, . _•�
<br /> } ' Lender is not required to permit reinstetement if: (i) Lender has accepted reinstatement after the commencement of
<br /> � t �- � ' � foreclosure proceedings within two years immediately preceding the commencement of a curcent foreclasure �
<br /> • �• proceeding, (ii) reinstatement will preclude foreclosure on different grounds in thC future,or (iii� reinstatement will �
<br /> . . adversely aitect the priority of the lien created by this Security Instrument. ; ._,;,;�.�
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<br /> �� � '' 11. Borrower Not Rele�sed; Forbesrance By Lender Nat a �Yaivcr. F?xtension of the time of payment or � -
<br /> _ �.+�" ��•� � modification of amortizat'son of the sums secured by this Security lnstrttment granted by l.ender to any succe�sor in �,�'
<br /> `:�;:�: '`" interest of Borrnwer shall not operate to release the liability of the original Borrower or Borrower's successor in
<br /> �...,• . interest. C,ender shall not be required to commence proceedings against any surcessor in interest or refuse t�extend � .. • �L
<br /> �'`� �' - time for payment or otherwise modify amortization of the sums sexured by this Sec:urity Iiistrument Uy reason of any� '
<br /> � � . , demand made by the original Borrower or Borrower's sucassors in interest.An�•forbearance by Ixnder in exercising �
<br /> � � � .. + any right or remedy shall not be a waiver oi or preclude the exercise of any right or remedy.
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