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<br /> poyment�,which u+c rofemKd tu in Paragr 2,ar chm�e the wnount uf ruch paymenta. Any cxcchr pn�ceedx over rut
<br /> amount�equirod to pay all outst�ndin�inda��uiuier thc Note and thir Securlty In�uument riwll bo paid to the entity
<br /> _. le�alty entided thtrcto.
<br /> _ 8. Few. l.ender may collect fecs and ciwrYca wutharlud by the Sccrctary.
<br /> -- 9. (iround�for Accekration of llebt.
<br /> (r)Det�ul� Lender may.exapt as limited by ngulutions isaued by thc Secretury in the c�se af payment ckf�ultr,
<br /> ___ nequire Immedi�u pnyment in full of all�ums scxurtd by this Security Instrument if:
<br /> s'" (i)Borrower dcfaults by failing ta pay in full any monthly paymcnt reyuircd by this Security instrumcnt pria
<br /> •�, to or on the due date of the next monthiy pa.yment,or �-
<br /> ..° ��,� (ii)Borrower def�ults by failinQ,for o period of thirty dYyx.to perform Lny othe�obliQxtions conwined!n thi�
<br /> Securtty Instrucnent.
<br /> "—""�+'"'�'� (b)Snle Witlwut Credit Approval. Lender tihall.if permitted by Applicubls taw ond with the prior upprovul of the
<br /> �"�""`'"�--"-- Secrctary require immedi�te payment In full of ull thc sums securcd by this Sccurity Inxtrument jf:
<br /> �,.�� (i)All ar part of the Property,ar n beneficiul intcrest in a trust owning all or part of the Propeny,i��old or
<br /> ,��,,;�.;w.��, othcrwise transfemed tother than by devise ar descent)by the Borrowcr.and
<br /> _—_ �,;,�-� (Ii)The Property is not occupied by the purchuser or gruntee as his or her principal rexidence,or the purchacer �
<br /> - —=ti�_R;�.,�.-' }y or grantee does so accupy the Pmperty but his or her crcdtt h� not been �pproved in occordance
<br /> �r �� with the reyuirementx af d�e Secc+etary.
<br /> ' .• ',•:.. �•`, (e)No Waiver. If circumstunces occur that would permit Lender to require immediute puyment in full.but Lendor
<br /> �=`�"�`-'—'-�' docs not requim such ayments,Lender dces not wuive its rights with respect to subseyuent cvents.
<br /> —�r.��:., , ��;.<•e.-,�+
<br /> • ..,,,},�,x;,?y (d)Re�ulations at H D Secretitry. in many circumstances regulations�ssue d by t he S ecrctary w i l l l im i t Len derti
<br /> . ';,,"•.. • 'r'1: dghts. in the case of puyment defaults, to require immediate payment in full und foreclose if not patd. This
<br /> �'-±���� Securiry Instrument docs not authodze acceleration or foreclosure if not permitted by regulations of thc Secretary. _
<br /> . „
<br /> , (e)Mwtgage Not Insured. liorrower agrees that should this Securiry Instrument and the notc sccumd thcreby not 6
<br /> -r'.�•'�;�,.. •', be eligible for insurance under the National Housing Act within 8 �IOA t hs from the ���-
<br /> ' � ,.. ,:�
<br /> ����:' ° date hereof.L.ender may,at its option and notwithstanding anything in Paragraph 9,requi�e immediate puyment in ___
<br /> , • ,..��';` • full of all sums secured by this Security Inswment. A written statement of Any autharized agent of the Secretary =':,.._.
<br /> . `' "; ' dated subsequent to 8 l�oAtAs from the date hereof,declining to insure this 5ecuriry �"`
<br /> . - Instrument and the note sec�red thereby,shap be deemed conclusive proof of tiuch ineligibility. Notwithstunding —
<br /> the faregoing,this option may not be exercised by Lendcr when the unavailubility of insurance is solely due to -
<br /> Lender�failure ta remit a mortguge insurance premium ta the Secretnry. —
<br /> " 10. Reiostatement. Borrower has a right to be reinstated if Lender has required immediate payment in full becausc r,�
<br /> ' �� � of Borrowert fAiture to puy an umount due under thc•Note or this Security Instrument. This nght applies even after
<br /> �..•.
<br /> " � ••,.:: forcclosure praceedings arc instttuted. 'Ib reinstutc the Security Instrument, Bonower shall tertder in u lump sum all ,�;=
<br /> ' '� ,;_',�,�,_y_ _. ,:., amounts required to•bnng Borrowers accaunt current including,ro the extent thcy are obligations of Borrawer under this =�'-
<br /> " --�-"- -- - Security Instrument,toreciosure wsts and reusonuble und cu+tumury uttu;�iays'fees and c�pcnscs properly a:::;aci�ted:vith —
<br /> • the foreclosure proceeding. Upon reinstatement by Bocrower,this Security In�trument and the abligutions thut it secures
<br /> shnll remain in effect us if Lcnder hud not rec�uired immcdiate p:�yment in full. However,Lendcr is not required to�ertntt
<br /> reinstutement if: (i)Lender has accepted re�nstutement ufter the commencement of foreclosure proceedings with�n two
<br /> years immedintely preceding the commencement of u current foreclosurc praecding. (ii) rein+tatement w�ll prcclude --
<br /> forecl�suir on diffen:nt grounds in the future,or liii) reinxta�rment will udvenely uffect the priority af the licn creuted by
<br /> thin Security Instrumcnt.
<br /> , 11. l�orrowcr Not Retea.�ed: Forbearuncc by Lender N��t u W+�iver. Extcmian of thc time of paymcnt or
<br /> ;, modtficution of umortir.ation of thc sums,ccurod by thi.Scruriry Instrument�!rantrd by Lcndcr to:►ny succexsor in mtcrcxl
<br /> �'�, of Borrowcr shall not openue to relcasc thn IiuMiliry uf thr uriginal Borrowcr or Burrowcr:wccc�tior in intere.t. Lendcr —_
<br /> '� shall not be rcyuired ro commencc prexceding.c�gain.t any+uccr.�ur in intcrr�t ur ref'usc to cxtend timc fur payment or "`
<br /> ?` otherwise modify amoniiacion of tl�e .wu, ,ccwcJ hy thiti Sccurity tnrtrumcnt by rcason of:u�y dcmand made by the �_
<br /> s } ariginal Borrower or BoROwcr:.ucce.,or,in intentit. Any fi�rlxarLnrr by Lrnder in exercising uny right or rcmedy shalt _,
<br /> f not be a waiver of or pteclude the exercisr of any right ur rcmedy. '
<br /> 12. Successors wnd AssiRns Round;Juint and tieveral Liabllity; Co-tiiRners. Thr covenants and ugrecments of �'-
<br /> this Security Instrumcnt shull bind und benef'tt the�uccessors und atisigm of Lender and Bunnwer,subject ro the provision+
<br /> ' of P3rugraph 9.b. Borrower's cavenantti and :�greementx zhull lx� joint and ,everal. Any Borrower wha co-signs this �
<br /> � Security Instrument but does not excrute the Note: (a)is co-tii�ning this Security Intitrument or►ly to mortgage,grant and - -
<br /> . convey that Borrowcr�intemtit in thr Piroperty under thc trmiti of thi�Security Instrumcnt;tb)is not pcnonally o�bli at_ed to� ;
<br /> �ny.the sums secured by this Security Instniment;and(c)agrrr�thut Lrnder and any othrr Borr��w�r grce to exte�- �
<br /> � maf�fy, ofi&rr or muke uny arrnmmodation,with rr�ard to the term�of thi,Srcurity Instrument or the Note without thut L.:.
<br /> � Borrowcr+con�cnt.
<br /> 13. Notices. Any notice ro Bnrrower provided ti�r in thi+Srcuriry In+trumrnt tihall he given by deliverinF it or by E�`._�
<br /> � '` mailing it by first clus,mail unle,� applicablc law reyuir�+ u+c of another mrth�xt. 'I'hc natice shall be directcd to the �;,�`
<br /> � � . + • Property AdJrcs�or any other address Borrower d«i�.natr,by notice tc� Lendrr. Any notice to Lender�hall be given by
<br /> !• �nt cluss muil tu Lender� addrc,r stut�d hcrein or uny addretiti l.rnder de.ignatrx by notire to Borcuwer. Any notice
<br /> " �mvided for in this Securiry In�trumrnt zhull tm decmed to huvr Ixrn given to Borrower or Lrnder when given us provided �
<br /> ;� p " tn this parugraph. •
<br /> l4. (:ovcrnin�;i.aw:Se��erubility. Thi,Srcurity Imtrumrnt tihall hc govrrned hy Frdcral law• and thr luw of the !�
<br /> ' : � }umdiction in whirh thr F'roFx:rty i� I�x•rtcd. In thr rvrnt that any provitiinn or clausr u1�thi+Sceurity Instrument or the i
<br /> Note conflirtti with applicahle law,wnc�onflict �hall not uficct��iher pro�•i�iom c�f this Srruriry In.trument or thc Notr
<br /> '3• whinc�an bc�ivrn rffcct without thc conflirtin�;pruvision. 'li�thi.cnd ttx prcwitiion���f thi,Srcurity Instrumen[und thr i
<br /> `'. Natc un dcrlarcJ t<�tx�cvcrablc. .
<br /> ?� 15. Burrower's Copy. Burcuwrr+h:dl tk givcn unr ronti�nncd rupy uf thi.S�rurity In+trumrnt.
<br /> 16. Astitgnment ot Rcnts. Borrowrr uncondition;dl�•:�titiign,anJ tramfrr+tu Lcndcr al!thr rent�and rcvcnuc+of thr
<br /> � • � Property. Bonowrr aulharite.Lender ur l.rnder ti agentti tu ri�llcct thr rtnt+und rrvrnur,and hrmhy directti cach tenemt of
<br /> _ , � the Property to pay thc rrnt�to Lcnder or l.ender+:+�rnt,. Nuu�cvrr,pri��r to Lrndcr'ti nuticr w Borruwer of Borrowcr'�
<br /> .� brcach of any covett.mt i�r agn:ement in the 5ccurity t:i.trumrnt.13urruH•er+hall cullcct and rercivc ull rcnt+and rcvenuex ot'
<br /> ' the Roperty as tntstee for thc benefit of LcnJcr and F3orrowcr. 'fhi�a+.ignmrnt of rents constitutc�un ahxolute assignment
<br /> � and not un a+signment for additional ucurity cmly. �
<br /> - � lf Lcndcr givcs noticc uf brcuch co Burrowcr: c:U uU rcnt�rcceivcd Ny Bnrrowcr.hull Fxn c�ld hy Borrowcr c�y tru�tce
<br /> ... .�. . _.,_ ..�_„ �_ .�...,.
<br /> ' ' �-------- - t0�bCI1CitI Ot LCItOCf oDly «� ix uppiicci w iin �uttt> >tcutcii uy iuc ac�ui�iy u��iiwuicui: �vi..tuu..T.,�u�. ..�":::... ..^.
<br /> �' collect tmd receive all��f thr rcnt�of the Pro}xrty:and�rl each trn�nt of tlx Yro�xrrty,hall pay ull rcnts due and�unpaiJ to
<br /> Lendcr or Lender i agent on Lcnder�written dcmund to the tcnant.
<br /> �` Borrower has not cxecuted uny priur assignment of thr rentti and ha� not and will not pertc�rm uny act that would
<br /> - l prevent Lender from cxercising itx rights under this P:►rLgraph 16,
<br /> : �;�, , Lender shaU not be n�quimd to enter upon, take cnntrol of or muintain the Proprny bef'ore or after giving notice��f
<br /> r, �. breach to$orrower. Howcver,Lender or u judiciully up4wintcJ recriver may di� tio ut 3ny timc there i,a hrcarh. Any
<br /> t"" application of rents shall not cure or w:�ive uny dcfuult or mvalidate any othcr right or rrmcJ�of l.cnder. This assignment
<br /> ' �'�:-� i of rents of the Property�hall terminatc whcn thc dcbt ticrur�d by the Security Intitrununt i,pa►d in Cull.
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