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<br /> ' .,:,,.. .-, , ,Y, � payment»,whtch are referrr.c!to G�Parap,�upd 2, or change thc wnount of auch psyinents. Any exceas proc over nn �^�,'�,�„-T•:�-•:-�--
<br /> amauntrequlc+ed to pay all outstanding indebtedness under the Not�and this Secudty I�strument ahul!be paid ro the entiry �-,a,,�:��.�,,_,�,,,x,,:,�,.
<br />- �";,'�' legally entltled therew. __
<br />- ����"• -". 8. �es. Lender may collect fees and charges authorized by the Secretary. -°--- �
<br />_�ri ' � ` ,�:.:� 9. Grouadslo�Acceleretton oillebt. �!�"''�=-_« � --------
<br /> _ �.�:..,. (a)Detaul� l.ender may.oxcept as iimited by reguladons issued by the 3ecretary!n the case of payment defaulte, _ s "
<br /> _,. requtre immediate payment in full of elt sums secured by this Secudry Instrument if: � ;,3��, �:
<br /> +�:�� •� �����_ ���^� (i)Borrower defaWts by feiling to pay in full any monthiy paymcnt rcquircd by thts Secutity Insuutnent prlor �_ � _ _
<br />� �' '��" ' � -=���'* to or on the due date of the next monthly payment,or �'!!'��-- �
<br /> ':}���`� �'��.•;; ��;1 (ii)Horrower defaulta by failing,for a pedod of thirty days,to pe r form any o t her o b l iga t ions con t e i n e d i n t h i s '"r� -���a.} .-,�,,
<br /> s':�'•`,; �;��. • • Secudty Instrument. '�^•h�4��~;.,�`�`�
<br /> ��� ' (b)Sale W�ithout Credit Approval. L en der s h a l l,i f perm itte d by app l ica b le law a n d w i t h t h e p r i o r a p p ro v�l o f t h e •'��,'�`ii����,x�}'.•;.
<br /> � y�" Secretary,require lmmediate payment In full of ull the sums secured by this Security Instrument ff: • �`•.i,�"'.,�!��'
<br /> ,',•'�+��"t'"• . (i)All or part of the Property.or a beneficia!interest in a tntst owni��i►U or purt of the Property,iR sold or . ,� ;:�_:�Y..� '
<br /> ' otherwise uansferrcd(other thun by devise or descent)by the�orrower,and �° � �•
<br /> .n. � � � ^. (�{)'Ihe property is not occupied by the purchaser or grantee ax his or her pdncipnl residence.or the pun:haser � . ��" ��t;��� ''
<br /> • " or grantee dces so occupy the Properry but hia or her credit has not been approved in accordanee ��.;r ' ., .K�4.�.�•� -
<br /> ' � with the requlrement�of the Secretary. � • •
<br /> � " � (c)No Waiven If circumstanccs occur that would permit l.endcr to rcyuirc immediate puymcnt in full,but I.ender
<br /> i •� � dces nat require such paymentF,l.ende�does not wuive itre dghts with reRpect m xub�equent evente. • " �"�'
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<br /> • . (d)Regulwtton�of HUD Secretary. In muny circumxtuaccx rcgulattnn�:ixxucd by tho Secretury will timft l.cndcrk ,... • •:ar��.;;�,�"
<br /> ;, � rightfi. fn the cosc of puyment defaultx, ta requirc immediute puyment in full und foreclase !f not puid. Thix •,;,°-,��__
<br /> - - .. :_ _-_ __ - Securlty tn�tn►meat d�uc nn:authnri�$,ucelerutton or foreclutium If not permittsd hy reRulutions af the Secmtury. �::'�+��_:-
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<br /> . (e)Mortgage Not Insured. Borrower agmeF thnt shauld this Securtty Instrument i�nd the notc accured thcreby not ' '"`���--�
<br /> �.a�r,,;,�
<br /> ' be eligible for intiurance under the Natinnul Hausing Act within from the �:.,;:�w-•;
<br /> � � dnte hcrcof.Lender mu .at its o tion and notwithstAndin nn thin in Pum rn h 9,m uire immediute u mcnt in • • ' �� -
<br /> y p S Y 8 B P a P Y f•.
<br /> '. . � full of ull sums secured by this Security Instrument. A written xtntement of any author�zed agent of the Secretury ,. �-;�.i�:�:
<br /> • : • „ dated subsequent to frnm the date hercaf.decltning to insure this Secur�ty
<br /> lnauument and the note secured thereby.shall be deemed canclusive proof of xuch ineligibitity. Natw3thstanding "' �
<br /> the foregoing,thjs option muy not be exerclsed by Len der w h e n t h e u navuilability of insurance is solety due to � �, ��
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<br /> � Lender's failure to remit a mortgage insurance premium to the Secretary. , � , �r
<br /> 10. Retnstatement. Borrower has a dght to be retnstatcd if Lendcr hac required lmmediate payment in full bccause �, �-% �
<br /> of Borrower's failure to pay an amount due under the•Note or this Securlry Instrument. This nght applies cven after �_-�.����
<br /> foreclosure proceedings erc instituted. To reinstatc the Secudty Instrument, Bocrower shull tender in a lump sum all �,
<br /> ----�— amounts mqutred to.bnn�Barrawer a uccouni cun�tit includinb.ta the cztcnt thcy arc obligatinns of 9onoiYer unde:this -__ - �
<br /> Security Instrument,'foreclosure costs and reasonAble and customury uttorneys'fecs nnd expenses properly assoctated with ; �j: �
<br /> the for�closure pmceeding. Upan reinstatement by Borrower,this Security Instrumcnt and the obUgations that it secures . tt�,
<br /> ' shall remain in effect as if l.ender had not reyuired immediute payment in futl. However.Lender is not requircd tapermit • �,
<br /> .. reinstntement if: (i) Lender has accepted remstutement after the commencement of foreclosure proceedings within two . ?' �
<br /> years immedistely precedin� the commencement of u cucrent foreclosure procceding. (ii) reinstatement wtll preclude ';:j �
<br /> foreclosure on different sraundx in the futum,or(iii)rcinstatement will udversely aftect the prioriry of the lien created by � ':cs= •i
<br /> this Security Instrument. ��_"�f I
<br /> 11. Borrower Not lteleased; Forbearance by Gender Not a Waiver. Extcn,ion nf ihe time of puyment or jqn
<br /> ., madificstion of amortixution of the sums�ecurcd hy thiti SecuritX Instrument grunted by Lender to any successor�n interest ;.• ••i
<br /> . of Horrower shall not operate to mlcase the liubility of thc origmul Borrower or Boaowerk rucccasor in intcrest. Lcndcr
<br /> ' shatl not bercqulrcd to commence procreding.r• agnmst uny xuccetisor in interest ar refuse to extend time for puyment or ,'�
<br /> othenvise modify amortization of thc sums secured by this Sccurity lnxtrument by rcuson of any demund mude by thc � °� ;.�j�
<br /> originHl Borrower or Borrower:s successors in interest. Any forbeurunee by Lender in exercising any right or remedy xhall I '�`
<br /> � not be a waiver of or pmclude the exercise of uny right or rcmedy. , �%'� .
<br /> ' 12. Successors and As.gigns Sound;Joint and Several l.iabllity.Co•Si�ners. Thc covenants und agrcements of ° "
<br /> ,. this Securiry Instrument shull bind and benefit th.succrs,ors und ussignx of Lender und Borruwer,subject to the provisions �
<br /> of Futagruph 9.V. BUIWWC�1 CUVCildlltti and abr�cmcnts shall bc joint and scvcral. �ny AOf�Olt'cr u�ho co•s:gns this � �
<br /> Security Instrument but das not execute thc Notc: (n)is co-.ignin�thix Scrurity In.trurnent only to mnrtgagc,gaun und I • ,
<br /> convey that Borrowcr's intercxt in the Prnprrty undrr the term.of thi�Security in.irument:(b)ix nat personully obl ig�ted ta .
<br /> pay thc sums stturcd by this Sccurity Inxtrumcnt;und(cl;t�nr.that Lcndcr and iin�other Borrowcr muy ugrcc to cxte�d, ; �
<br /> modify,forbeur or muke uny uccommuciutionti with re�:urd to the tem�,uf this Srrurrty In+tr�:ment or the Notc without thut ;
<br /> Borrowcr s consent. !
<br /> ' 13. Notices. Any notice to E3orcowcr providcd fi�r in thi, Sccu�ity lmtrumcnt xhafl tx givcn by drlivcring it or by � .
<br /> mailing it by first clu�s muil unle�s upplicuhlc law Rquirc.utir of unothcr mrthod. The notice shull bc directed to thr
<br /> ' . Property Address c�r uny other uddress Borrower dr�ign�ite.hy notirc to Lcnder. Any nuticc to I.ender+hull tx �±iven by
<br /> � fint dasx muil to Lenderk uddress ,tated henin or uny uddres. [.cnJer dcsignutc, t+y notice ta Borcower. Any notice �
<br /> I rovided for in this Securiry Instrument shull tx drrmcd tu havn c�cn�ivrn to Hc�rrowrr ur Lcndcr whcn given u+provided •
<br /> � n this parugruph. `
<br /> 14. Governin�l.aw;Severgbillty. 'I'hi. Security Instrumcnt zhall tx g��vcrncd by Federal luw und th�luw of the �
<br /> . , Jurisdiction in which thc Propercy ix Ic�catcd. In thc rvcnt that uny pruvi,iun crr rlau,c of this Serurity Instrument or the
<br /> '. Nate conflictti with applicuble law, sunc �cxitlict .hall not affect uther provi�i�ms of thi�Security In,trument or the Note ,
<br /> � which cun be given ettect without thr contlictin�provi,ion. To thi.end the provi+ions of this Securiry Imtrument und the
<br /> Note are declurcd to be sevcrublr.
<br /> IS. 8orrowe�'s Copy. 8orrowcr shull be given�>ne rc�nti�rmed copy of this Securiry Imtrument.
<br /> ' 16. Axtiignment of Etents. Born�wcr unronJiti�mully u++i�;n+and trmi.irr,ta LrnJ�r ull thc rentx und revcnuc+of thr
<br /> � ' property, Borruwc�uuthoriics Lcndrr ur LenJcrl uy.cnt.to coUrrt thr mntti and nvrnuc+und hrnhy dimct+cuch tcnant af
<br /> the Property to pay the rents t�i Lrndcr or Lcndcr's a}�rnt.. Nou-rvrr,priur ta LcnJrr� noticc to Bcircowcr of F3��rcower+
<br /> ' • bnuch of uny covenunt nr ugrccmcnt in thc Srcurity In.trumrnt,k3uRON•rr�hul�roltcct nnd rccrivc ull rcntti:►nJ Rvcnuc�o(
<br /> - . the Prc�perty us trutitee for thc henetit of l.endrr imd Burniwcr, Thiti a��ignmrm ul'rent+remstitute.un uh�uluh u��i�;nmcnt
<br /> und not un++stiiEnmcnt tirr udditional xecuriry only.
<br />. . . �.•� _�_ _��� ..0.�t�.. ..� ..tl.,...�.- ..�{...R.. .h.Jl lv,Mnld hv Rnrrn�vrr:a�tmctvi•
<br /> _ . — ...-.: . u t.cltVCi givi::iwiiCC v� v��.u�u .. ..5:...:: �..r.....:.....�':..Yt...y .,..r.n��.n�...._...._._._..� '-'••- ' -
<br /> for bcncfit of Lendcr only,to be ap�licd tu the tium. x�:unJ b��thr Security In.trununt; Ib) t.cndrr xhull he entitled tu
<br /> ' • ' collcct und receivc nll of thc rentti nt thc Property:and (c)cach trnam uf thr F'r��Exny �hu�l puy ull nnt.dur und unp�id t�i
<br /> [.ender or Lenderti ugent on Lcnder�written demand to thc tcnunt.
<br /> � ?. Borrower hus not executed uny prior assi�nmrnt of the rcnts unJ hii. ncn and will not prrtiirm :u�y uct that wuuld
<br /> � ;f prevent Lender from exerrisin�its ri�hh undcr thi.Purugroph 1b. _
<br /> Lender shall not be rcywrcd to cntcr upcm,ta►kc contml of or muintum thc Propeny lxfon or ufter giving nuticc ot
<br /> breuch to$orrower. However,Lender or n judiciully ap�ointed mrciver muy do .o ut any time therr is u brcuch. Any
<br /> � ; applicution of mnts shall not cure or wuive uny defuult or ui�alidutc uny othcr right or mrnrdy of Lendcr. 7'his u��ignment
<br /> '� � of rent�of the Property xhnll terminate when the debt sccured by the Secarity Inxtiument ia puid in full.
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