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<br /> payment�,which wie refetred to in Pnrugmph 2.or changa tho amaunt of euch pnymente. My axee�s proceeds over an
<br /> nmaust�y uiced to pny ell outxtamding lndebtednaAa under the Nato nrtd thle Secudty Instrument ahall be pald w the endty
<br /> legally cntitled thereso.
<br /> & Flees. I.ender may�ollect feeu and churges authndzed by thc Secretury.
<br /> --- 9. (i�nde tor Aticeferattan ot Debt.
<br /> tA)Detaul� I.ender may.excepz ax lim(ted by regulationa lsaued by the Sar+etary in the case of Qayment defaulta,
<br /> -'— ----�—_� require immed€awpaymcnt i�fult of ntl swns secured by thia Securlry[nstn�ment iR
<br /> (i)Botmwer defaulta by failing to p�y in ttdl eny monthly payment requiced by this Securlty Inatrument p�lor r
<br /> ,; to or on the due date of tha noxt monthly puyment,or
<br /> (iI)Borrower defaults by failing,for a pedod of thirty dnys,to perform any other obligatlons conrained in thin
<br /> • , Serurfty Instcuncen�
<br /> (b)Sale W(thout Credit Apprnval. L.ender shall,lf p�rmitted by applicablo law and wIth the prior appmval of the
<br /> � Sccretary.require immedlatc payment in full of alt the auma�ecw+ed by this Secudty lnstcument if:
<br /> _�„ (i)Ail or part of the Propertyr.or a beneticiel interest in a uust owning all or part of the Property.is sold or
<br />- �" otherwiso uettsfened(othet than by devise or descent)by the Borrower,and !!
<br /> ;j.�,` (ii)11te Property is not ocoupied by the purchaser or grnntce us his or her principal resldeace,or the purchaser _
<br /> _�� , or grantee does so occupy th� Property but his or her credit has not 6e�o approved in accordance
<br /> � wlth the requirements of the Sec�tary.
<br /> (c)No Walver. If c[rcumswnces occur that would permit L.ender to require immediatc payment 1n full.but I.ender
<br /> does not require such pay�nenu,Lender dces not waiva its dghts with respe�t to subsequent events.
<br /> (d)Reguladons ot H[JD Seeretary. In many circumstartces regulsdons issued by the Secretary w1U limit Lender�s
<br /> ,�.�__�FZZ,�; . dghts. iri the case of pnyment defaultx, tat�equine ImmedIate payment in full and foreclose if not paid. Thts --
<br /> • - _ Securlty isstrumeni dacs not autharizc accctcrution at fosrclasute!f not�rmitted by segalstians of the Secretar�. `'�---' -
<br /> • i ar ,�,. C.(. -
<br /> �,�. ����:�,;�• (e)Mortgage No!Insured. Borrower agr�ees that should this Security Ineuument and the note secured thereby not _
<br /> �� � be eligible for insurance under the Nattonal Housing Act within 90 QRYS from the ." ,�M
<br /> o��?-=4-.�_��••,�.�'.'::.: date hereof,Lender may.at its optIon and notwithstanding anything in Peragruph 9,require immediate payment in .�;_u--�:
<br /> full of all sums secured by this Security Instrument. A written statement of any�uthorized agent of the Secretary ��'�s
<br /> � , dated subsequent to 90 QAYS from the dare hereof.declining to insure this Securlty " '��",
<br /> .,.,,�, .. ' .
<br /> . � �� Inswment and the note secured therebg,shall be deemed conclusivc proof of such inelisibility. Notwithstnnding =`"`'"-
<br /> .w_.___�
<br /> � the foregoing, this option may not be exercised by I.end�er when the unavailabiliry of insurance is solcly du�to '�""�"
<br /> - • Lcnder`s failure ro remit a mort�age insurance premium to the Secretary. '�.
<br /> ' 10. RetnststemenG Borrov�er haq u right to be c+einstated if Lender has cequired immediate payment in full because ��` ��w �
<br /> � •• " of Borrower�s failure to pay an amount due under the•Note or this Security Instcument. This rFght applies even after : -°
<br /> - i'oi�:ii,�ure pra;eedings are tastitutcd. '!b rclr��tate tlse Secur3ty Insuumeni. Borrower shall teeder in a lump �um a1i ".
<br /> , amounts required to�bring Borrower's account curnent includtng,to che extent they am obli�ations of Borrower under this -
<br /> Security Instrument.foreclosure costs und reasonable und customary attomeys'fees and expenses properly assocIated with � �
<br /> " _ � the foreclosure proceeding. Upon reinstntement by Bnrrower,this Security Instrument and the obligations that it secures ,��� � `-
<br /> ' shall remain in effect as if L.ender had nat reyuired immedtute payment in full. However.Lender is not required topermit • �• �.
<br /> • reinstatement if: (i)Lender has uccepted re�nstatement after the commencement of foreclosure proceedin�s within two
<br /> �_�.,�_^.__�__: �P�, immwliotolv �aii�o rhP �nmmpnr�mrnr nf B CIIRP�11 fomclocum nroceeding. (iil reinstatement wtll preclude '"
<br /> '' foreclosure on dit`ferent grounds in the future,or(iii)reinstutement will adversety affect the prIority of the lien created by � ---
<br /> this Sesudty Inswment. '
<br /> 11. Borrower Not Released; Forbearance br I.ender Not a Waiver. Extension of the dme of payment or �
<br /> modtficatian of amortization of the sums secumd by th�s Securit�+Instrument granted by Lender to any successor in lnterest °�
<br /> ;. • of Borrower shall not operatc to r�eletu;e the liubility of thc originul Borrowec or Burrower's successor in interest. Lender , ��°•
<br /> . shall not bereq uired to commence proceedings aguin,t nnY,ucce�sor in intemst or refuse ta extend time for payment or �
<br /> � , otherwise modify amorttzation of the sums secured by this Security Instrument by ma.4on of uny demand made by the " '
<br /> � original Botrower or Botrower'.s successon in interest. Any forbcarance by Lender in exercising uny tight or remedy shall '::a
<br /> �� •• not be a waiver of or preclude the exercise of nny right or remedy. � �;
<br /> � 1�. Suceessors and As.gigns Bound:Joint and Several I.fability;Co•Signers. Thc covenuncs und ugreements of
<br /> �_ ;. ,. „ _. , this Securiry Instrument�hall bind and bene�t thc successors zutd atisi�ns of Lender and Borrower,subject to the provisions .
<br /> ' . ' of Parugtaph 9.b. Borrowery covenunt.r und ugreements �hutl hc�omt wd sevcruL Any IIorrowcr who cas�gns this '
<br /> � , � � " Security Instrument but does not executc thc Notc: (a)is co-signing this Security Imtrumcnt only to mortgage,�rant und
<br /> � convey that Borrower's intem�t in the Property unJer the tenr►m of thi.Securiry in.trument;(b)iti not personuqy obligatcd to
<br /> ., pay the sums secured by this Security In�trument;and(r)ugmeti thut L�ndcr und imy other Borcower may stgrec to extend, „
<br /> modify,forbear or muke uny uccommodutiom with rcgurd to thc tcrm�of this Security Instrumcnt or the Note without thnt
<br /> . • � Bormwcrt consent.
<br /> 13. Not[ces. A�y notice to Borrower provided far in thi+Security Instrument rhull bc given by delivering it or by
<br /> .. mailing it by first c�ass mail unless upplicable inw reyuires uxc of unother methad. The notice shall be directed to the
<br /> _ , , Property Addcecs or any other uddrcss Bormwer designates by notice to Lender. Any natice to Lender shull be given by
<br /> ' � first class mail to Lender's uddrerx stnted hercin or uny addn�sti Lrnder desiFnate� by notice to Bormwer. Any notice ,
<br /> provided for in this Security Intitrument shull be dcemed to huvc ixen givrn to Hom�wer or Lender when given as provided
<br /> ' m this puragrnph.
<br /> ` . 14. Governing Law;Severability. Thiti Security ln,tcument tihall hc govemrJ My Frderul luw and the luw of the
<br /> _ ;� �.. jurisdiction in whirh the Praperty ix locuted. In the event thut uny pnwi.x�n or clau,c of'this Sccurity Instrument or the
<br /> % _ Note conflicts with upplienble luw,such conflict.hull not �ffrrt uther pn�vi.ion�ot'thi. Security lnstrument or the Note
<br /> ,� . which cun be given effect without the conflicting pmvi.ion. '1'i�thi.enJ tfx provi.i��n.of thi.Security Instrument und the
<br /> Nrne um declamd to Ix:scvcruble. � ,
<br /> � � I5. Hort�ower's Copy. Bnrmwer shs�ll be given one conf2�rmed copy of thi,Scruriry In,trumrnt.
<br /> 16. Asslgnment of Rents. Borrower unconditionully a..+ign,and trumfcr.tn Lcnder ull thr rents and mvenues ot'the �
<br /> Property. Borrower authorir.es Lender or LenJer:ugent�to collrct ehr rcnt�und mvenuc+and hemby dimcts ench tenunt uf f
<br /> " , the Property to pay the rents to Lender ar Lender:a�ent,. Ne�wevcr,p�ior to Lcnder+notice to Borcowcr of$orrower:
<br /> � bmach of nny covennnt ot agrcement in the Security In.trument.Borcuwer+hall collect and rcccive ull mnt.r and revenue�of F
<br /> ,.
<br /> the Property as trustee for thc bencfit of l.endcr und Hurrawcr. Thi.u«ignment of rcmti romtituteti an uMsolute nssignmcnt '
<br /> ,
<br /> • .....,....._........:........,...r...aa:.:...,..�.�.,,.,,.:..,.,..�., �
<br /> _ --- ---- - - ,_-
<br /> - - _ ......................e.....�.........,...............----.., ....�.
<br /> ;` If Lender gives notice of breach to Borrower: (u)xll rcnt.nrcived h��Born�wer.hall Be hcld by Borrower a,tru.t��e •
<br /> „ for benefit of Lender only,to be applied to the�umti securcd by thr Srcurity Imtrument:(bl Lcndcr shnll tx:cntitled to
<br /> �� e collect und receive all of the rents of the Property:und(c)ruch tenant of the i'ro�xny+hull puy ult mnt+Sue und unpaid t�� ,
<br /> � � � Lender or Lender's ngent on Lender.l-written demand to thc tenunt.
<br /> ��' �• Borrower has not executcd any prior assignmcnt of the rent� und ha. nnt and ��•ill not Exrfortn uny uct that would
<br /> ,�+ prevent Lender from exercisin�its ri�hts under thi�Paragrsph 1 h.
<br /> ' t . Lendcr shall not be rcquired to enter upon,takc control af ar muintuin the Pro}xrty bcfim or aftrr giving nntirc uf
<br /> I ;� brench to Borrower. However,Lender or a Judicinlly�pQointed rcceive�muy do yo at any timr thrre i�a brcuch. Any
<br /> i � application af rents shull not cure or waive uny default or invutidate any othcr right or Rmrdy of Lrnder. '1'hi�uatiignmcnt
<br /> of rents of the Property shnll terminate whcn the dcbt xecurcd by the Securitp Imtrument i.paid in 1L11.
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