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<br /> a�roou�nc r�e'g�wulhi+�ea pRy ill�out w�din� 2'��dK tvae�ana`°d is�sohcur�it�unw�eni�hili�bs pd���::�edt�j►
<br /> kpUy anutled ti�eceto.
<br /> 3. Fbea. I.enAer msy collact fee�and cl�a suthorized by the Secnetary.
<br /> f. Qrauadt tor Accekrallon oP Debt.
<br /> (�)D�aM. l,a�der may.exccpt a�lim{ted by re�ululoru iuuod by the 5ecrct+►ry in rrhe ca�e of{xym�nt dofiults�
<br /> requiro immediue p�yment in ful:ol all�waa�ecurod by this Socurity Inurument if:
<br /> _-�s�=m-- (i)Botcowcr dcfnults by failln�to pay in Poll any monthly peyment required by this Security InNrument pdor
<br /> to or on�he due dato of the next monthiy psyment,or
<br /> - (ii)Barrower defaults by failin�,for�peda!of thirty di►yi,to pert'orm any aher obli�ulons caiWned M this
<br /> Securiry Insuument
<br /> (b)3�1e Without Ct�edit Approval. Lender�h�il.if pertnined by applictble law and wlth the pcior�ppnnv�l of the
<br /> Sacreury.requiro jmmediate payrnent In full of aU the cums socured by this Securiry Instrument if:
<br /> (1)A!1 a put of the Property.or a bencficinl inte�+est in a uust ownin�alt or part of the Ptopetty.I�sold or
<br /> otherwise uansfemed(otl�er than by devise or desant)by the Borrower.and
<br /> (lI)'Ibe Properry is not occupial by the purchaser a•grantec as his a her principal rcsidence,or the purch�aer
<br /> or grentec doee so accupy the Pi+operty but hic or her crcdit hxs not been approved in �ccondu�ce
<br /> wtth the�quirements of the Secrotary.
<br /> (c)No Waiver. If ciceumstances occur that would pennit Lcndcr to roquire immediate payment in full.lwt Lender
<br /> does not require suchpayments,Lender das not walve Its dghts with respect to subseqaent events.
<br /> (d)Re�uLttons ot HUD Secretuy. In many circumstanas regulatians issued by the Secrctary wlil Gmh Lenderls
<br /> rights, in the case of payment defaults. torequire immediat�payment in full and foreclose if not d. 'If�f�
<br /> Security Instrument daes ncx authariu acceleration or foreclosure if not permitted by regulations of the tary. _
<br /> (e)Mort�age Not Insured. Burrower agrces that should this Security Inswment and the note secureA thereby not
<br /> ,� be cligiblc for insurence under the National Housing Act wtthtn 8 Ron ths from the
<br /> date hereof,Lender may,at Its option and notwlthstanding anythins in P�a�agraph 9,require immediate payment In
<br />- full of all sums sccured by this Security Insuument. A written statement of any authorized agent of the Secretary
<br /> '� ' dated subsequent to 8 mon t hs from the date hcreof,declinin�to insurc thls Security
<br /> Instrument and the note secured thereby,shall be deemed wnclusive proof of such ineligibility. Notwithstandins
<br /> the faregaing, this option may not be exerc[sed by Lender when the unavailability of insurance is solely due to
<br /> Lender's failure to remit a mortgage Insurance premium to the Secretary.
<br /> 10. Reiru�tAtemenA Borrower has a right to be�+einstated if I.ender has required immediate payment in full because
<br />, of Botrower�s failure to pay an amount due under the•fYote or this Security Instrument. This right applies even after
<br /> foreclosure proceedings are instituted. 'Ib reinstate the Security Instrument. Borrower shall tender in n lump sum ull
<br /> - amnunt°s+equirtd sa br3ng Boso�:er6 uccoun!contnt including.to the c!ctent thcy am obligation�of Borrower en�er th4s
<br /> �':;; . Security Instrument,foreclosure cotits und rcasonable und cu,tomury uttomeys'fees nnd expenses properly pssocIated wtth
<br /> � :•"«4 � :�' the forcclosare roceulin U n reinstatement b Horrower,this Securit Imtrument imd the obli ntions that it secureti
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<br /> :,� r. shall remuin in effi�ct ux if'Lendcr had nat rec�uircd immediutc payment in full. Howcvcr,Lendcr is not required to Pertnit
<br /> ' ''+'��`4`�'"" ' rein�t,�tement if: (i)Lender hus uccepted rcm+tutement after the commencement of foreclosure praceedings withm two
<br /> '�h 1r •t-.. � r
<br /> '��,,,j,�w,�;, ;;,;�, yoacti immediutely preceding the cammencement of u curmnt foreclowre praeeding, (ii) reinstatement will preclude
<br /> ��y-:; .• �• forecloxurc on diffcrent grounds in thc futurc,or(iii)reinstutement will udvcnely uffect the priority of the lien crcated by
<br /> �'?' this Security Instrument.
<br /> -���°.:r - � ' I l. Burrower Not Relea�sed; Forbeprxnce by Lender Not � Waiver. Extension of the timc of puyment or
<br /> ��. .�•�. . w madification of amortir.ation of the sums tiecured by this Srcurity Inztrument grunted by Lender to uny successor in interest
<br /> •�,••� �,..� • . -.-w.-� of Bormwer shull not operute to releuse the liubility af thc uriginal Borrower or Borrower:s successor in interest. Lender —
<br /> _�,`;��� � :�, shall not be requircd to commence proceedings ugu�nst any succe�sor in interext or rcfaxe to extend time for payment or
<br /> � _ otherwise modify umortir.stiun of thc tiwn.r sccurcJ Uy thi+Security Imtrumcnt by re:�,on of nny dem;md made by the �.
<br /> "' '. original Borrower or Borcower'x xuccesson in interest. Any forbearance by Lender in exercising any ri�ht or remedy shall �-
<br /> . �= • not be a waiver of or preclude the exercise of uny right or remedy. —
<br /> - �-�• 12. Successors and Assigns Bound;Joint And Sever�l I.iability; Co-Signers. The covenants and agrcements of
<br /> this Securiry Instrument shull bind and benefit the succes+or.;and assigns of Lendcr:uid Borrower,subject ro the provisions ����
<br /> � . of Paragruph 9.b. Borrowcr's covenuntx und ugmcments shall bc joint and several. Any Borrower who co-signs this =
<br /> � Security Instrument but dces not execute the Nnte: (u)is ca-signing this Security Insaument only ta mortgage.grant and �_
<br /> �. convey that Borrower's intcrest in thc Property under thc tcrmr of this Sccurity Instrumenr,(b)is not personnlly obligated to �`
<br /> � . pay the sums secured by this Sccurity Iratrument;and(r)agreeti that Lendcr and uny other Borrower may agrce to extend, ��
<br /> � • modify,forbear or makc any uccommodutions with regurd to the tcrtns of thix Security Instrumcnt or the Note without that �--�
<br /> ;_,i�r • =
<br /> • .• Borzowcr's consent. =
<br /> � 13. Notices. Any notice to Borrower provided for in thix Security Instrument xhall tx:given by deliverin�it or by
<br /> ��`"`'� � mailing it by first clusti maii unless applicuble Inw reyuire.use of another methoJ. The notice shall be directed to tbe �`
<br /> � •• Property Addrcss or:►ny other uddres�Borrowcr dcxignates by notirc to Lcndcr. Any notirc tu Lendcr shall tx given by ��•:
<br /> first clASS muil to Lenderi uddrcsx statcd hcrein or any aJdretis Lrndcr dc,ignatc�by noticc tc� Bonowcr. Any notice •
<br /> - ' �rovidcd for in this Sccurity]nstrumcnt�hall ix:Jrem�J to Nuv�bccn giw�n to Horrower ar Lender when given ati provided �C�3
<br />_= tn this parngruph. �
<br /> � �) l4. Guvernin�Law;Severability. Thiti Scrurity In�tnimcnt tihall tx�nvcmcd by Fcdcral luw und the law of thc �•
<br /> �• jurixdiction in which thc Pmperty i�I�xated. In thr cvcnt that any provi�ion or clau+r of thi.Srcurity Instrumcnt or thc �
<br /> Natc conflicts with upplicublc luw. ,uch contlict shuU not uftect othrr provitiiom of thi�Sccurity In�trumcm or thc Notc
<br /> which can bc givrn rftcct without thc rontlictin�!pruvision. To thi�rnd thr pruvixions of thi+Sccurity Imtrument and thc
<br /> � Notc um dcclarcd a�hc scvcrahlc,
<br /> , � I5. Borrowcr's Copy. Borrowcr shull hc givcn onc ronti�rn�rd rop�•ui thiti Srcurity Inytrum�nt. � �
<br /> � 16. A�.riRnment of Rents. Bormwer unconditionally a++ign.and tramtcr�tci 1.enJrr all thc nnts and revenucs of the {
<br /> , , Propeny. Horrower uuthoriies[.enJrr ur Lcndrr�agrnt.tu coUrct thr rent.und mvrnur.:md hereby directs earh tenant of `
<br /> s the Property to puy the rent.to l.endrr or Lrnder;u�entti. N��w•rvcr,priur to Lender: notice to Borcower of Borcower's f
<br /> . � brcach of any covenant or agr�ement in thc Sccurity In+trwnent,Borruwer tihall collcrt.mJ rereivr all rent�and revenue,�,f
<br /> � �� . the Property a�tru+tcc tor the bcnefit of LrnJcr und E3eirn�wcr. Thi+ussignment nf rent.run�titutrs an ubsolutc ussignment k
<br /> y_; and not an ussignment for udditinnat ucurity only. �
<br /> - ��'�+}-"•J?� - if i nndnr oivac nntira nf hmw.•h tn Rnrcnw.�r• l:�1:�11 mnte rnrrivrd hv Rnrrnw�•r chnll Fti+hrtd 6v Rn,rnwrr n.truct...+
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<br /> _,_. __ _.-...-_ - • e••'-••-••" -. _._.._...- --•._.._._ ._.. .. .... _ . .. :.
<br /> , ,. for benefit of Lcndcr only,tn be upplicd to thc sums secumd by thc Secanty Imtrument: (M)l.cndcr shall bc cntitled to
<br /> collect and receive all of the rcnts of the Property;:u►d(r)each trnant of the Pro�xrty xhall pay all rentz due und unpaid to
<br /> � Lender or Lendcrl agent on Lendcr i written dem:tnd to the tcnant.
<br /> Borrower has nut cxecuted:my prior ussignmcnt of the rcnt�unJ hus not and will not perform any act that would �
<br /> � prevent Lcndcr from exercising its rights undcr this ParoFr.�rh Ih. ,
<br /> �:,•� � Lender shall not be nquired to enter upon,t:ikc control of or maintuin the Pro�xrty before or after gcving notice of
<br /> _- brcach to Borrower. However,Lender or a judiciuQy upQointed rccciver may do sa ut uny timc there is a brrach. My
<br /> = � application of rents shall not curc or waive any default or mvalidate any other right or remed�of Lendcr. This assignment
<br /> .�°� . , of rents of the Property shall terminate when the debt secured by the Security Instrument is paid in full.
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