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<br /> p�ymentr,which Nt�e rofemcd to In P�r� 2,or ch�nsc tha �mcwnt�f wch p�,ment�. Any exceu prcxwd�ov�r Mt
<br /> Mnwuntroy uired lo p�y�ll oWUandlna�todr�un�r the 1Vaa�ad th4 S�curlty In�umait vWl b�p�W a IM�ality
<br /> N�nll �ntitMd tMnw.
<br /> � IhM. Lender nu�y collecl foes end ch�r�a wlhorixed by�be S�crwry.
<br /> �. (iror�!br Aoc�Mratior d Drdt.
<br /> (�)D�iwlf. L.a�der m�y,except a timited by roaul�tiWU I�uued by the Sane�Kry In�he caw ot p�ymau d�t�utu,
<br /> requlro lmmedi�tep�ynant in full of nil�umr raaurod by thlx 5a:udty Imuument if:
<br /> (i)Borrowe�defwla by f�ilin�w p�y in full Nny monthlY p�Ymem royuired by thi�Sx�urity inMrwaa�t prior
<br /> �. to ar on the duc date af the next monthlY prYment,or
<br /> � (ii)Barower defaultr by failin�.for�period of�hiny day�,to pe�fom�sny other obliQuiau contained fn thi�
<br /> Secudty Inun+ment.
<br /> (b)S�Ir VYlthout Credlt Approv�l. I.�nder shall,!f permitted by Applic�ble taw And with tMe prior appr+ovd of tho
<br /> Secrctary.requirc immedf�te payment in full of all thc sum�eecurcd by this Security Incuvment if:
<br /> (t)AU or ptut of the Property,w x beneficial intec+e:t ln�tnut ownM�all or put of the PropeRy.is wW cx
<br /> otherwlse transferred(other than by devfse or de�cent)by the 8orrower.and
<br /> (ii)'ilu Properry ls not ocCUpied by the puroh�ser ur grentee as his or her principal residence,or thc purchaser
<br /> or gmt�tee does so occupy the Property but his or fier crodit has not ban appruvu! in accord�un;e
<br /> with the�+equirements of the Secrewry.
<br /> (c)No Waiver. If ci�cumstances accur that would pertnit L.ender to rcquire Immediate payment in fuU,but Lender
<br /> does not requ[n such payments,Lender does not waive its rlghts with respect to subsequent events.
<br /> (d)ReQu'iatlone ot HUD SscreWry. In many circumstances rcgulattons lssued by the Secrctnry will limit l.ender's
<br /> _:�f� rights, in the case of payment defaults, tor�quirc immediate payment in full and forecfasc if notpa id. 1'hia
<br /> :j��%;' Security Instrument does not authoriu accelerxtion or foreclosu�if not permitted by rcgulations of the Skretary.
<br /> ` (e)Mortgage Not Insured. Borrower agrees that should this Securiry Insaument end thc notc secund ther�by not
<br /> be eligible for insurunce under the National Hausing Act within 8 �+'1�g from the
<br /> : date hereof,Lender may,at its opqon a��d notwithstanding anything in Paragraph 9.require immedisu payment in
<br /> •. °c��^;•• full of all su�ns secured by this Security Insuument. A written xtatement of any authorized ugent of the Secretary
<br /> � `•x����`��•� dated subse uent to 8 �t�g from the date hereof,declining to insure this Secudty
<br /> �.,,,� ;,.r;.,.;,,;; ., 9
<br /> - :;;`�,•,,:��:;�:,;�:; ..,- Instrument and the note secured thereby, shall be deemed conclusive proof of such ineligibility. Notwithstunding
<br /> ��:�:';��*'�'�:r�i�.i::�:�'�" the foregoing,this option muy not be exercised by Lender when the unavailability of insurance is solely due to
<br /> � •'f:K;�,: ,s���•• ' . L.ender'.c failure to remit a mortgage insur:u�ce premium to the Secretary.
<br /> - "�'`'"��'"`' �•'"'•'� 10. Reinatatement. Borrower has a righc to bc rcinstatcd if Lender has required immediate p�yment in full becausc
<br /> - �.,,��,r:�; r:".,� 3' of Borrower's failure to pay an amount due under the•Note or this Security Instrument. This right applies even after
<br /> ' ' � foreclosure proceedings nre instituted. 1b relnstate the Security lnstrument, Borrower shall tender in a iump sum all
<br /> •• amounts requited tobring Horrower's account cutrent including,to the extent they are obli�ations of Bonower under this
<br /> • _ Security lnswment,foreclosure cos►s and reasonable nnd customary unorneys'fees und expenses properly associated with
<br /> ' the forectosure praceeding. Upon reinstatement by Borrower. this Security instrument and the obligations that it securcs
<br /> � " "' " , shall remain in effect as if Lender hnd not rec�uired immcdiate payment in full. However,Lender is not required to�ermit
<br />' � reinstatement if: (i) Lender has accepted re�nstatement after the commencement of foreclosure proceedings with�n two
<br /> , years immediately preceding the commencement of u current foreclosure proceeding, (ii) reinstatement w►ll preclude
<br /> '' � foreclosure on different grounds in the future,o�(iii)reinstutement will advenely affect the priority of the lien crcated by
<br /> this Security Inxtrument.
<br /> .. � � ".. I1. Borruwer Not Released; �orbea��nce bv Lender Not o Waiver. Extension of thc time of payment or
<br /> . . modification of amortization of the sum.,ecurcd by th�,Srcurity Intitrument gr:u�ted by I.ender to any successor in intercst —
<br /> �� of Borrower sh•r!I not operate to reie•r.e the liahility of the uriginal Borcr,wer or Borrower's succeswr in intemst. Lender --
<br /> �i shall not be rc�uircd to commence pr�xerding+agamtit any.urce+ti��r in intere+t or rcfuze to extend time for puyment or d
<br /> -� • othcrwise mod�fy umortization of thc ,um. krured by thi.Srcurity Intitrumcnt by rcason of:my Jemund made by the `,
<br /> ;�• originrl Borrowcr or Borrowc�.wrrrs.i�rs in intem�t. Any fortxarunce by Lcndcr in cxercisins�y right or remedy shall
<br /> nw bc u wuiver of or prccludc thc rxcrci,r of uny right or R mcdy.
<br /> ' 12. Surcessors And AssiRns Bound;Jc►tnt �nd tieveral I.iability;Co•tiigners. Thr covenants and ugreements of �
<br /> thi�Serurity Intitrument.hall hind und txrnetit the sucrea.on and a�sigm uf Lrnder and Borrower,�ubject to the provisions _
<br /> „ of P�arugraph 9.b. Borrawer: covenantti anJ a�r�emem. �hali tK joint and uvrral. Any Borrawer who cu-signx this __-
<br /> � . Security Instrument but does not executr thr Note: (a)i�co•si�ning thi,Serurity In,trument only to mortgage.grant und __ _
<br /> ' wnvey that Borrower's interc+�in thr Pn�prrty under the terni,��f thi�Scruriry Instrumrnt:(b1 iti not penonnlly obligated to
<br /> pay the sumx secumd by thi+Security Imirununt; •rnd(r)agRr.th:►t LenJer anJ any uther Borruwer muy ugree to extend,
<br /> '� modify,forbear or make uny•rcrommociation.with mgard t��the temi�of thi.Security Irt.trument or thc Note without that —
<br /> :-�rt'%�° Borrowcr s consent. —
<br /> � 13. Notin�. Any noticr to Horruwcr provided ti�r in[hiti Srrunty Intitrumrnt +hall tx givcn by dclivcring it or by =
<br /> � .�s•- mailing it by fir�:class mail unle,ti upplicuble luw rcyuirc�u�r uf another mcth�xi. The notire ,hall t+e dimcted to the
<br /> ' ��t�'r, � Propeny Addrex,or any other udJresx BoROwcr design:�te�by nuticr tu Lendrr. Anv nuuce to Lendrr�hal�tx grven by "
<br /> , fint class mail to LenJcr: aJJre»>tatrd h�min or any uddrc,.L�ndcr dc,ignatr+ hy nuticc to Burrowrr. Any noticc �
<br /> - Provided for in thi�Serurity In�trument�hall lx Jermrd to hav�txrn given to Burm�vrr ur Lendrr whrn given a.�provided ��'
<br /> m thix parugraph. `
<br /> +r c � 14. (:overnin� l.aw•;tie�•er�bilily. Thi.Srrurity In.trumcnt �hall hc gu�rmrd h}•FrJeral law and thc I�K' q1�II1C �-
<br /> ' � jurisdirtion in whirh the ProFxrty i.lixated. In che rvrnt that :my pru�i+iun ar rlau.c uf thi.Srrurity In.trument ur thr
<br /> ' i � Ni�tc ronflicts with applirablr I:1N', wnc�untlirt .haU n��t utfrrt athrr pru��i.ium uf tlii.Srrurity ln+trumcm or thc Notc �
<br /> -_ which can Ix givcn eCfrct withuut thr runtlictin�pru�•i�iun. T��thi.rnd ihc pru�i.iom of thi+Srrurity In�trum�nt und thc
<br /> Note:Im declarr:d to Ix�rvrr:►Mle.
<br /> � I5. Borrower's l'upy. Burrua•cr.hall Ix gi�cn�me runti�rnicd r��p�uf thi+5r�unh In.trument. �
<br /> z� 16. AstiiRnment of Rents. Borruwrr unconditionally a„i�m anJ tran.icn tu Lrnder all thr rrnt.and n:vcnuc.o!'tlx �
<br /> . Property. Borruwer authorire+Lrndcr or Lcndcr�agrntti tu col lrrt thr r�nt.and ir�rnur�and hcrcby dirtrtti carh t�nant of
<br /> _ � the Property to pay thc rrntti to Lendrr or L�ndrr:agrntw Hciµe«r,priur tu Lendcr:noticc tu Borniaer of Borrow¢ri }
<br /> � � brearh of any coven•rnt or agrcemrnt in ttx Srrurity In�trumrnt.B��rru«rr�h:dl culirct and rcceivc all rcnt.und rc�rnur+at'
<br /> thc Property as trustcc ti�r thr txnefit uf Lrndrr and Bam�wrr. Thi�a..i�.nmrm��f Rnt.run.htutr.•rn uhwlutc us.ignmcnt �
<br /> and not:u�ax5ignment for additi��nal.crurity only.
<br /> ': If Lendcr givrs noticr of hrearh tu Bum�k�cr: l:�l all trnt.rcrrircd h� Hurtu��rr.hall Ix hrld hy Horrow�rr a,tn�.tcr �
<br /> — for benefit of Lrnder nnly,to tx applied to the�um�ucurcd b�•thr S�runt� In+tn�mrnr Ib)Lrnder.hull t+e entitic�!to •
<br /> � coUect und receive all of the rcnh of the Ro}xrty::uiJ Icl rarh tenant af the Pro�m .hall pay all rcnt.duc;u�d unpaid to �
<br /> Lender or Lender��gent on Lcnder i w•ritten demand ro thr rcoant.
<br /> .. Borrower ha+nnt exeruted any pnor a��ignment of the mnn and ha� not and a��ll n�x�xrtiirm :uiy xt t6at wcwld .
<br /> . ., prevent Lcnde�from exerci�ing it,right,wxier chi.�rrrgrrph I6.
<br /> : �.. ' Lender shall not be n�yuired to rntrr u}wn, ta},c c��ntrol uC ur �naintain thc F'ruprrty h�;forc ur aficr�iving nutirr uf
<br /> �, brexh to Borrowec However. LrnJer ur a juJiriully appointrd rerrivrr ma}�do.0 at an}• timr thrrr is a brr:kh. An�
<br /> applic•rtion of rents shall not run u�wuivc an���ktault ur invalidatr un� utlkr right ur rcm�tily uf Lrndrr. Thi+u�+i�mnrnt
<br /> i- " of rents of the i'roperty.hall terminate K•hen the drtx+crumd by the Srrurm In.trument i.paid in full.
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