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<br /> PiY�nU�which�ro rerenrod to in Pua� p 2�or chmae the �mowit of wch Wyments. My ezau p�000eds over an
<br /> amouNtroquired to p�y�Il owawdLK i��d�btedne�t unda the Nate�nd this Security t�wtnuaent thaU be paid w tha autity
<br /> le�all en�ided thento.
<br /> � Fea. I.ender rnxy wtlect fa��nd ciwQcs authoti:ed by the Secrctary.
<br /> 9. Grouad�tar Accekratbn atlkbt•
<br /> (�)Defiul� [.ender mwy,eacept�limitod by rtgulcuions i:wed by the Su:rcquy in the cas�e of payment defaulu,
<br /> rtquin immedi�te payma�t in fuQ of all Yum�secu[od by thi�Security lnsqument if:
<br /> •���.___�__—.� (i)Borrawer defwDts by failing to pay in fuU wny monthlY p�Yment required by this Security Initrurnent pria
<br /> - to or on the due d�te of ihe next manthly payment,or
<br /> _ (ii)Hornower defaulu by fdling.for a period of thlrty days.to perform�u►y other obli�wtions cantained in du�
<br /> Security Insuument. -
<br /> (b)3�k WlWout Credit AppcoWal. Lender sh�ll,if permttted by applicable law and with the prior�pprovd of the
<br /> Secretary.requtre immediate payment in full of all the sums secured by this Security Instrument if:
<br /> ___ (i)All or part of the hropecry,or a beneficial Intcrest in A trust owning all or part of the PropeRy,Ia sold or
<br /> otherwise trru►sfemed(aher thon by devise or dcscent)by the Borrower.and
<br /> - �`-�" - -`-- -- ° (ii)1'he P��operry is not ocaupied by the purchaser or grantee as his or her principal residrna,or the purchaser
<br /> — `-� or grantee does so oaupy the Property but his or her crcdit hs�a not boen approved in ucordance
<br /> with the requirements of the Secretery.
<br /> (c)No Waiver. If circumstances occur that woutd pertnit I.ender to require immediate payment in full.but Lender
<br /> _� ---�° - does not rr.quire auchpayments.Lender does not walve its dghts with respect to subsequent events.
<br /> (d)Re�ulsttton9 ot HUD Secretary. In many circumstances regulations issued by the Secretary witl limit Lender�s
<br /> . dghts.in the case of payrmnt defaults, to �q uire lmmedtate payment in full end forcctose if not paid. 'Ihis
<br /> Security Inspument does not�uthorize wccelcration or foreclosure if aot permitted by regulations of the�ecretary.
<br /> � �'��`+-��;�7�'� (e>Mortgage Not Iasured. Borrower agrees that should this Security lnskument and the note secured thereby not --
<br /> ' • �`'`""'='r'' be eligible for insurutce under the Nationel Housing Act within from the
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<br /> - , . te ereof,Lender may,at iGc opt on an no h 9,require immediate paymc�t in
<br /> ,fh�;�:.. •. •.r y',: full of all sums secured by this Securiry Instrument. A written statement of any authoriud agcnt o t ecrctary
<br /> d�ted subsequent to from the date hereof,declining to insure this Security
<br /> ��'f: ;,�'-�•- �;•���: • ]astrument and the note secured thereby,shall be deemed conclusive proof of such ineligibility. Notwithstunding _
<br /> � ' ' the foregoing, this option rnay not be exercised by Lender when the unavailability of insumnce is solely due to
<br /> . ' Lender+s failure to rem�t o mortsage insurance premium to the Secretary.
<br /> ' 10.Reinctatement. Borrower has a nght to be reinstated jf Lendcr has required immediate payment in full because
<br /> ' of Borrower's fuilure to pay an arnuunt duc under thc•Note or this Sccurity Instrument. This right apalics even after
<br /> '- foreclosure praceedings are�nstituted. Ta reinstate the Security Instcument, Borrower shall tender in a lump sum all
<br /> _. . . '�,.�.•�._.._.,t'a-._: amountsreyuired to�bring Borrowerk account current including.to the extent they uce obligations of Borrower under this
<br /> Securlty Instrument,foreclosure cosGC and reusonc►ble and customery uttomcys'fees and expenses pmperiy ati�ociatrd wiQ�
<br /> the foc+eclosure proceeding. Upon reinstatement by Borrower, this Security Instrument and the obligatians thnt it secures
<br /> shall remain in effect as if I.ender hed not rec�uired immediate payment in full. However,Lcnder is not required to Pertnit _
<br /> reinstatement if: (i) Lender has accepted remstatement after the commencement of foreclasure proceedings within two =
<br /> yeacs immediately preceding the commencement of u curmnt foreclosure pra:ceding, (ii) reinstatement will preclude �"`
<br /> fomclosure on different grounds in the future.or(iii)reinxtatcment will adversely uffect thc priority of the licn created by
<br /> ' � this Security lnstrument.
<br /> p 11. Borrower Not ReleASed; Forbearance by I.endcr Not a Waiver. Extcnsion of the time of payment or
<br /> modifica�ion of umortization of the sums,ecured by this Secunty In�trument grunted by Lender to any successor tn mterest
<br /> of Borrower xhall not operute to rclease thc liability of thc origmul Borrower or Borrowcr's successor�n interest. Lender
<br /> ���, shali na be re4uired to commence proceedings uga�ntit:u�y suc�essor in interest or refu�e ta extend time for payment or �
<br /> ,� � otherwise modtfy umortization of the �ums secured by this Securiry Instrument by reaxon of any demand made by the
<br /> ariginal Bocrower or Borrower;successors in interest. Any forbearanre by Lender m exercising any right or remedy shall '�',
<br /> • not be a waivcr of or prccludc ehc ezcrci�e of'any right or rcrncdy.
<br /> ' 12. Succescors and Assigns Ibwid: Jotnt und Several i.iability; Co•tiiRners. The covenants su�d u�reements oF Ey�°'
<br /> this Security Instrument shall hind and bene�t the.uccessun and atisigns of Lrnder:uid Bonower,tiubject to the provisions �..._
<br /> of Paragrnph 9.b. Borrower'� covenunt. and agmements tihall bc joint :u�d �everal. Any BoROwer who ca�igns this _
<br /> ' '' Security lnstrument but dcxs na�xe�utc thr Note: (ul i+ro•signing this Scrurity Instrument only to mortgagc,grant and '
<br /> comey ihat Borrowcr's intcrc+t in thc Proprrty undcr the term���f thi.Securiry instrumrnr.(h)ix not penonally obligatcd to �'`
<br /> pay thc sumti sccurcd by this Securii�� In.trument:and(c►.�grceti that I_cndrr und:�ny othcr Borrowcr may agrce to extend, C �
<br /> ' modify,torbear or make•rny accornmcxlatiom with rcgurd to thr tem�s of this Securiry in�trument or the Note without thAt �_
<br /> Borcawa's comcnt. `
<br /> � 13. Nutices. Any notirc w Borrowcr providc:l for in thi.Securiry In+trumcnt xhall tk givca by dclivcring it or by ��-.
<br /> mailin�it by first cla,.mail unles+applicahle !aw reyuires u�r of unothrr methexi. The nc►ticc tihall be directed to the � •"
<br /> PropeRy Addrcss or uny uthcr addmss Borrowcr dcsign•rtrs by noticc to Lcndrr. Any ni�tire to LcnJer sholl bc given by � �
<br /> ' first clasx mail to LenJer+addrctiti titated hcrein or any uddre++ Lender dctiignatc+My mnic� tu Borrower. Any notice
<br /> T•� Qrovided for in this Security Instrurnent.hull bc dccmed tn havr fxen giren to Borrowcr or Lendcr whcn givcn as provided
<br /> � m this paragr:�ph.
<br /> .�: • i 14. Governing Law;tieverability. Thiti Sccurity In.lnimrnt�hall lx govrrn�d h�•Federal law and thc luw of the
<br /> ;. � jurisdiction in which the Prupa:rty is lixatrd. In thc evrnt that any provi�iun��r rlau�r ot thi�5ccurity lnstrument ur thc
<br /> � ' Note ronflicts with applicablr law•.�u�h cunflict shall not affect othrr provi.i��m uf thi�Serurity Intitrument or the Note
<br /> �;; i which can be given et'tect without the conflicting pruvi,iun. 1i,this rnd the pmvi�iun�of this Security Intitrument and the
<br /> , i Note undectared to tx xvcrahle.
<br /> � ' I5,Borrower's Copv. Borcoxcr tihaU hc givcn unr ronfunnrd cupy uf thi�Serurity fn.trumcnt. f
<br /> . ' 16, Assignment�►f Rents. E;urr��wrr unc�mditiun;illy:n.ign.and tramtcr+tu Lendrr all thc renh and revenues of the
<br /> • , Property. Botrower uuthoriie�LenJcr or Lendrr i agrnt.to rullert thr nnt.:md re�•rnue.anJ hereby dimcts each tenunt of k
<br /> � , the Property to pny the rentti xo Lrndcr or Lcndcr's agent�. Howrver, prior tii Lrnd�r: noticc to Borrowrr of Boaower� r
<br /> ° bmach of uny covenant or agrrement in thr Scruriry in.trument.BOROK'l`f til1:l�I l'OIII'l'1.IfllJ RCl`IVC JII iCtllti;tttd ICVttlUB�01� �
<br /> �'� thc Pmperty as tru.tec for thc txnrfit of Lrnder and Borrower. Thiti atisi�.nmrm��f rtnt+con+tituteti •rn uhwlute a�signment k
<br /> f and noton assignment for udJitinnal+ccurity only. ''
<br /> �, �. _ _ If Lender givex notirr ut�breach tu Born�wer. (a)all rcnc�rrrrivcd by Borcuacr�hall Ix hcld by Born�wcr as tru,tec
<br /> � - -�� - -� - for benefit of Lrnder only,to ix: appt�rd co ene wm+.erureu ny tnr acrunty in�crumenc;tni i.cnticr �naii o�oniiiicu iu
<br /> � rollcct�nd rcccivc ull of thc rcntti �f thc Property;and Ir)rarh trnant of thr YroExrty,hall pay all rcntti duc und unpaiJ to
<br /> Lenderor Lender+ugent on Lcixicr;writtrn demanJ to thr t�nunt.
<br /> •` � Barower hu�not executed uny pnor ussignmcnt of the mm+and h:�� nut unJ wi11 n��t perfi�m� any urt thut would
<br /> . �� t s preverit Lendcr from rzcmising itx nghtti undcr thi�F':iragruph 1 h.
<br /> Lender shull not be reyuireJ tu rnter upun,takr control o(��r maintain thr I'�u�xrty Ixtim or after giving notice of'
<br /> brcach to Borrower. However,Lcnder or a judiciully appointed recriver may d�� tio at any timr therc i�a bmach. Any
<br /> ` applicaiion of rcnts shall not cure or waivc uny drf'uult ur m�:�lidatr any��thcr right ur n�mrdy uf LrnJrr. Thiti a�tiignmcnt
<br /> �. � of rentsof the Property shall terminaic when thc dcbt sccurcd by thc Srrurity In+trumcnt i.pnid in full.
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