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<br /> • � 94— i��.c���
<br /> p�ymeru�,which arc oeferrcd to in Pu�graph 2.or cf�ange the emounz of such pAyinents. Any cxces:proc over an
<br /> unountrcquircd to pRy�II outsundin�indebtedr�ess under the Note utd�hia Secucity Insttument ah�tl bo p�id w the endty
<br /> k�ally entiticd thcrcto.
<br /> 8,Fee�. Lcnder m�y collect fees and chuQes authaizal by the Secrctuy.
<br /> 9.Graenda tor Rcce{erxttoa o�Debt.
<br /> (�)Defiul� L.endct mxy,except t4s Itmitcd by rcgulationc iccued by the Sccrctury in the cuse of payment defaults.
<br /> aquirc immediate p�yment in full of all sums sxurcd by this Security Irextrument if:
<br /> � -- -�—_-_� (1)Botrower dsfautts hy failing�o pay in full eny monthty payment rcquired by thts Security lnsuument pria �
<br /> to or on the due date of the next monthly payment,or
<br /> (li)Bcxrower defaults by failing.for a penod of thirty days,ta perform anY aher obli�ations containcd in this
<br /> Secudty Instrument.
<br /> (b)S�te Wlth�wt Credit ApprovAl. Lender shall.if petmitted by upplicable law and with the prior approv�l of the
<br /> - - Secntary,ceq,uire immediatc payment in full of all the sums secured by this Security Instrument If:
<br /> �-..�_ (i)All or part of the Property,or a beneGcial interett in a trust owning ull or part of�he P►npertY• !s�o�d or
<br /> � �°- otherwIse trensfemed(ather than by devise or dcscent)by the Barrower,and
<br /> � - (i;)The Properry is not cecupied by the purchaser or gru�tec:a his oc her pdncipaf residence.or the purchaser -
<br /> or grantee does so occupy the Property but his or her crcdit hus not been approved in accordance
<br /> with the mquircmen�c of thc Secretary.
<br /> (c)No Waiver. !f circumstances occur that would permit Lendtr to rcyuitc immediate puyment in full,but Lender
<br /> - _ - does not myuire such payments,Lcnder dces not waive tts rights with respect t�sub.cequent events. �
<br /> -�-= - (d)R�ul�tions oT HUD Secrefary. In many circumstences regulAtions�ssued by the Secrctary will limit l.ender's
<br />- i� dghts, in the case of payment defaulu, torequire immediute pnyment in full and foreclose if not paid. 'Ihis
<br /> . �� Secudty Instrument dces not authorize accelerution or foredosure if not pertnitted by regulations of the Secretiry. _
<br /> � A�`�r'.��`��` (e)Mortgnge Not Insured. Borrower asrees that should this Security lnstrument and the note secuced thereby not
<br /> . �� _ • � be eligible for insurance under the National Housing Act wtthin from the
<br /> ,:.•.,...,a , .
<br /> :�.�..�... date hereof,L.ender may,at itc option and notwithstanding anything in Paragraph 9,require immediatc puyment in
<br />. rt ° '' .. : s.--
<br /> `� �.4�, r full of all sums secuced by this Security Instrument. A written statement of nny authorixed agent af the Secretary ��
<br /> � .. Y'� �r dated subsequent to from the date hereof,declining to insure this Security
<br /> �`'.';���.�°����: Insttument and the note secured themby. shaQ be deemed conclusive proof of such ineljgibility. Notwithstanding 4
<br /> ` �i�` � �� thc foregoing.this option may not bc exereised by Lender when thc unavailubiliry of insurance is salely due to
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<br /> ��'4�7':!�'��k:..,�;; ..
<br /> 'f;.,,:�••,.• : l.encier's failune ro remit a mortguse insurunce premium to the Secretary.
<br /> {�'t'!r:f�4ik.�n�� 10. Re[nstatement. �orrower has a right to be reinstuted if Lender huc rcquircd immediate payment in full becausc
<br /> :;„•-.�_� of Bortower's failure to pay an amount due under the•Note or this Sccurity Instrument. 'Ihis nght applies even nfter
<br /> �n,�r; :, ^ :; fareclosure proce�dings are instituted. 'Ib rcinstate the Security Instrument, Borrower shall tender in a lump sum ull v
<br /> _ - ,,,��-;�,, -.- ;mounG4 rsqstists!to bring Rorr�w�r's account current includin�,ro the extent thcy are obltgations of Borrower under this
<br /> Security Instnrment.fomclocure costs und reasonable and cusromary attomeys'fees end expenses properly u+xx:�uted with __
<br /> � ;.;,,, ; ; ,, the foreclosure proceeding. Upon rcinstatement by Borrower,this Security Instrument and the obLgutions that it secures -
<br /> ' shull remain in effect u+if Lcndcr fiad not rec�uired immedintc payment in full. Howevcr,Lcndcr is not rcquired to permit ` _
<br /> reinst�tement if: (i) Lender has accepted reinstutement after the commencement ot forcclosure proceedings wuh�n twu _
<br /> t „ „ years immediately preceding the commencement of n current foreclosure proceeding. (ii) reintitatement wlll prccluda
<br /> foreclosure on different graunds in the t'uturc,ar(iii)rcinstUtement will udvenely affect the priority of the licn created by
<br /> " this Securiry Instrument.
<br /> • 11. Borrower Not Released; Forbearance by Lender Not a Waiver. Extension of thc time of payment or ��.,
<br /> " ' modification of�morti•rution of the+ums securcd by this Securiry Intitrument granted by Lender to any successor m interest �,_,,,
<br /> ' of Borrowcr shull not operate ro rcica.e the liubility of thc iirigmal Borc�wcr ar BoROwcr's succcssor m interest. Lender -_�..
<br /> �=1•. �hall not be requircd to rommence proc:eedings ugaimt 3ny sucee++or in ime�est or refuxe to extend time for payment or
<br /> - odxrwise modify umortiiatian of the sums sccurcd by this Security Instrument by reation of any demand made by thc �e.,
<br />��'��" ' origind Eiom�wer or Borcower's succesxon in intercst. Any fortxurance by Lender in exercising any right or mmedy shull
<br /> ' ' not be n wuiver uf or prccludc thc exrrcisc of any right or rcmedy. ,L�.Si ners. The covenantr nnd ugreements of �1 r
<br />;: . 12. Successors and A�.ci�ns Bound;Jolnt and Severat Liability, � �
<br /> � . this Security Instrument shaU binJ and benrtit the succe.�or�and a�sign���t l.rnder;md Burrowrr,subject to the provi�ions
<br /> of P:uugr.tph 9.b. Borrowcr's covcn3nts and agrcemcnts ,hull tx joint unJ ticvcral. Any Borrowcr who co-��gns thiti {
<br /> : Securiry Instrument but does not exrcute the Nuu: (u)is co-,igning thi,Security Instrumem only to mortgage,gr.►nt and ;
<br /> convcy thut Bonowcr's intcrc�t iu thc Pru{xrty undcr thc tcrmti uf thiti Sccuriry lintrumrnt:(bl is not Fxrsonully obl�guted to ,
<br /> pay thc sums secumJ hy thi. Scrurity In,�rumcnt:and(c)agrccti that Lrndrr und any othrr Burruwer may agn:c to extend, ,
<br /> ' w , mod ify,forbear or m:►kc:�ny ucrumm�xlatiun�with reEard to thr temis of thiti Securiry In.tniment or�hc Note without thut ;
<br /> • Bomowcr's consent. �
<br /> ' � 13. Notices. Any nutice to Burrowcr providcd ti�r in thi.Srcurity Instrumrnt ,hull tu given by delivering it or by
<br /> `. �,, muiling it by flr�t clus, rnail untr.s :►pplirablc law myuire.u�c ��f an��ther mrth�xl. '1'he nntice tihall lx�directed to the �
<br /> Property Addrrs+or uny other addreax Hnrrowrr drsignutr.by n�Hicr to Lcndec Any nutice tu LrnJer xhall tx given by
<br /> � ` fint clasz mail to Lcndcri addretiy �tatcd hcrcin or nny addrc��Lrndcr dctiignsucti hy m�ticr t�� Horrowcr. Any noticr
<br /> • �roviJed fur in thix Securiry tnstrument shuU�deemed tu havr ixwn given tci Burr��w�r��r Lendrr when given u+provided �
<br />-_ . � mthisparugraph.
<br /> _.� 14. (iovernin�;Law; tie�•er�bility. Thi� Scrurity Intitrumcnt .h:ill t+� �uvrmrd by Fcdrral law and thc law of thc
<br /> �, f jurisdiction in whirh thc Pn�perty i+ I�x••rtcJ. In Ihc rvrnt th.�t am� pro�•i�iun ur clau�c uf thi� Scrurity In.trumcnt or thc
<br /> Notc contlicts with upplicablc ln�v,tiuch ranflict�hall nut affert uthcr praehium of thi�Srcuriry In.[n�m�nt or thc N�itc
<br /> - " which can bc givcn rffcct without thr�onlliCting pru�•itiiutt. Ti�thi+�nd thr provi,iom��f thi.Sccurity Instrument and thc
<br /> _ � � Notc arc derland tu be�ever•rble.
<br /> v , . � IS. Borrowcr's Copy. Borrowrr.hall tx gi�•rn�mc runti�mxd rup�•uf thi�Sc�urity Imtrwmnt.
<br /> � l6. AxtiiKmnenl uf Rents. Bnrn�HCr un��mJiti�mall�•a.�igm und Uan,l'�n t��I.rndcr:dl thr nnt.and revenuc+of thc
<br /> ' • Roperty. Bormwcr authuritcy Lrndcr ur l.endrr'>agent�to cuUrrt tlie rcnt.mid rrv�nue�and hrreby Jimch each tcnant of
<br /> �: � the Pmpe�ty to pay thc rcntx to Lcndcr ur Lcndrr�aLCnt�. Huwcvrr,prior tu Lrndrr:n�ticr to Born�wcr of Bottc�wer's
<br /> , ' brcach ot�any crnrn:►nt or u�nemcnt in ehc Srrurity Imtrumrnt.Rurrou•rr.hull cull�rt and reccive ull rcnt.anJ�LVenueti of
<br /> thc Property us w�tcc for the txnclit i�F LcnJcr und Bnrn�wrr. 1'�i�u�c�gnmrnt��t rcnt.ci►ntititutc+un ahnwlute u.+ignment
<br /> and not un astiignmrnt foradditi�mul�.crurity�unl}•.
<br /> 1f I.rndor aives noticc of br�urh tu Burrower. (:tl:dl renU rercivrd by liurroa�r�hall Ik h�ld by Barn�wrr as tru�t�e
<br /> � — [` __-_-_ __- for benetit of Lendcr unly. w br applicd tu thc .unt��rruttd hy the Scrunty In,tn�menc: In) i.endcr>naii i�r c�iiii�c.;«;
<br /> f• coil��ct und rcccivc all ot'thr rcnt.ut thr Piro{xny:und�c►rarh tcnum uf thc 1'ruprny ,hall pa}• a�l nnt.Juc und unpaid to
<br /> Lender or Lcndcr ti ugcnt on Lendcr:wriu�n dcmand to thr trn:mt.
<br /> Borrower h:�ti nnt executeci any priur a��ignmrnt uf thr rcnt. c�nd ha. nut und a•ill not p�rtinm any uct that w��utd
<br /> *�" '" • ` prcvent Lendcr from excni�ing it��i�htti wxlcr thi�Hira�:raph 1 t�.
<br /> 3 k �- Lrndcr�hall n��t tx:rcyuired tv emcr up�m,takc cuntrol of or maintain tl�r 1'ru{xny� txiun��r attcr giving nuticr oF
<br />; � •
<br /> ` Im:ach to Burruwcr. N��wever. Lendcr ar u judiriaUy :�p��intrd rcceivrr nt:g•du,��at an�•tiaie then iti u bn:ic�. ny
<br /> L upplic•rtion of rcnt�+hall nut run���r wuivc:my detault ur tnvalidate any�,thrr n�ht or mmrJ) ��t LrnJer. "('hi.u.tii�nnunt
<br /> ; of rentx ot'tltc Roperty tih;dl trrtninatc whcn thc dcht.ccured hy thc tircunry In+trumem i.��a�d m full.
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