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<br /> "��'��`-"��'� paymont�,which are referred to in Pazagruph 2.or chango tho mttount of such payments. A.ny excess procccdx ovcr m�
<br /> — — — amountceyuired to pay al!outatanding in�iebtedneas under the Hote and this Security Inshumcnt ahaU bo patA ta tho cntIty
<br /> - legully endtled thereto.
<br /> - 8. Fees. Lender may cdlect fees and charges authorized by the Srccetery.
<br /> — 9. (irnunda for Accelsn�tlon ot De6f.
<br /> — (w)Det�tul� i.ender may.e�cept es limitea by rogulationa lsaued by the Secretary in tho case oY psyment def�ulte,
<br /> mquine immediate payment in fut!of aU sums secured by thfs 3ecudry Instrument�f: __
<br /> -- (i)Borrower defeulta by failing to pay in tWl any monthly payment reyuiced by this Secur�ty tnserument prioe
<br /> ''}�• to or on th�due date of the next monthly gayment,or
<br /> �,: (li)Botrower dsfeults by failing,for a perIod of thirty days,to perfonn any other obltgationa contatrted in thia
<br /> Securlty Inaqutnen�
<br /> (b)Sale Wtthout Cred[t Approval. I.ender shall.if pem�itted by applicnble law and with the prIor appmval of tha
<br /> �� Secc+etary,requine immediate payment in full of atl the suma secuned by this Security Insuument if:
<br /> oitherw1 ise�anafe ed(othep rrtthan by d Ise oi desceny by th Borr weir,8 d'or part uf the Property.is sold or
<br /> • (ii)The Property is not occupied by the purchaser or grantee as hia or her principal restdence.or tha purchaser
<br /> ..�_,.. �'t��. ; or grantee does so occupy the i'mperty but his or her credit has nM been Apprnved In accordence
<br /> , •,�,r>'r�,.�.•i with the requirements of the Secretary.
<br /> ��:�.�.;.• , .
<br /> � '� (e)No Walver. If clrcumetances occur that would permit i.ender w requlre immediste payment in full.but I.ender
<br /> �'"�` � �`"�_� doas not aire such ayments,L�ender dcea not waive its dghts wIth respect to subsequent evente.
<br /> ",�'�`".:ac,: �•;
<br /> �,i:,.: ' �-.��'� (d)Regul�ons of�Secretaryc In many circumstances reguladona isaued by the Secretary wil!limIt Lender's
<br /> ;'�;•�����.r °,-���-°: rights.In the case af payment defaults, toreq uire immedtate payment in fuli and foru.lose !f not aid. This
<br /> - .—..-� �ecnrity Instnament�c nnt eurhari�e nccelerarion or f�rectosure If not germltted by ra�tulat[ons of tha�Iecr�•tary. -�`
<br /> � ,s (e)Mortgage Not Insured. Borrower a�recs that should this Security Inatrument and the note secured chcreby not
<br /> ,. � � • be eligible for insucance under the NatIonal Housing Act within 8 months from the
<br /> � • date herenf,L.ender may,ut its option and notwIthstanding anything In Paragaph 9.requlre immediate payment in
<br /> fall of a!1 sums securcd by this Securlry Insuvment. A wdtten atatement of any authorized a$ent of the Secretery
<br /> .. " dated subsequent to 8 a�onths from the date hereof.declining to insure thta Security
<br /> • Insmiment and the nate secumd thereby.shall be deemed conclusive proof of such lneligibility. Notwithstanding
<br /> � the forcgoing. this option may not be exercised by I.ender when the unavailabillty af insuru►ce is sotely due to _ _
<br /> � I.ender�failure to remit a moRgage Insurance premium to the Secretary. —
<br /> � �� � 10. Retnstatement. Barower has a rlght to be relnstated if I.ender has required immediate payment in fuU because
<br /> of Borrower's failuce to pay an amount due undcr the•Note or this Secudty lnstrument. This dgl�t applies even efter �
<br /> __ ,__ foreclosure proceedtngs are instituted. 'Ib reinstate the Secur�ty Instrument. Borrower shall tender in a lump sum all _
<br /> amounts required to�bdn�Borrowerk account current including, to the extent they are obligations of Horrower under�hia
<br /> .� .. Secudty Instrument,foreclosure costs and reasonable and customery attorneys'fees and expenses properly associated wIth
<br /> � the foreclosure proceeding. Upon reinstutement by Borrower,this Secur�ty Instrument and the obligations that it secures —
<br /> shall remain in effect es if Lender had notrcquirPd Immediate payment in full. However,L.ender is not requined topermtt —
<br /> ' reinstatement if: (i) Lender has accepted reInstatement after the commencement of foreclosure proceedings within two
<br /> ears Immedietely reced{n the commencement of a current foreclosure praceeding. (II) reinstatement will preclude �'-
<br /> � " f reclosure on differPent grounds In ttie future,or(iii)reinstutemsnt wlll udversely affect the pr�orlty of the IIen created by �'��
<br /> r,,�-
<br /> � this Securlty Instrument. �
<br /> 11. $orrower Not Released;Forbearance by Lender Not a Waiver. Extension of the dme of payment or `K:.
<br /> � modificatton of umortizatlon of the sums secured by thi.s Security Instrument�ranted by Lender to any successor in interest
<br /> • � uf Borrower shaq not operatc to rcicasc the liabillty of thc original Borrower or Borrower!s successor in interest. Lendet -
<br /> shall not be required to cornmence proceeding+agu�nst anX successor in interest or refuse to extend time for paym ent or
<br /> otherwise moitfy amortizatbn of the sums secumd by th�s Security Instrument by muson of any demnnd made by the
<br /> • orI�inal Borrower or Bnrrower ti successors in interest. Any forbearance by Lender in exercising uny r�ght or remedy sha11
<br /> • not be a wsiver of or preclude the exercise of any right or remedy
<br /> , 12. Successors and Assigns Bound;Joint and Several Liability: Co-Signers. The covenants and agreements of
<br /> this Security Instrument xhall bind and tx:nefit thc tiuccessors and nssigns of Lcndcr and Borrower,subJect to the pmvistans
<br /> ' . " uf Paragraph 4.b. [iorrowerl covcnants and u�nementr: shail be joint and several. Any Bortower who co-signa thi.r
<br /> Security Instrument but dots not execute the Note: (u)is co-signing this Security Inxtrument only to mortgA�e,grant and
<br /> convey thnt Borrower's interest in thc Property under thc terms of thiz Security Instrument(h)is not personally obltgated to �
<br /> " pay the sums sceurcd by th is Security ln�trument:und Ir)ugrecs thut Lendcr und un�other Borrower may ngrec to extend,
<br /> � modify,forbenr or make any arcommudutions with regard to thc temr. of this Secunty lnstrumcnt or the Note without thnt
<br /> Borrowcr's consent.
<br /> 13. Notices. Any noticr to Borro�ver provided for in this Security lnstcumcnt shull lx given by delivering it or by
<br /> • mailing it by Grst clu+x mail unletiti applicuble luw rcyuiRti use e�f:uwther methai. The notice xhull be dinected to the
<br /> • Property Addmsx or nny other uddress Be�rcower dezignute, by noticr to Lender. Any notice to Lender shall be�iven by
<br /> first cluss muil W LenJcr'�ad�irc�� .tuted herein or uny �dd�c�.l.rnJer de,ign:►te+ by nuticc to Borr�>wer. Any notice
<br /> Qrovided for in this Securiry Instrument xhull bc deemed tu hu�•�Fxen giern to Burrowrr ur Lendcr when given us provided
<br /> m thix purugruph.
<br /> 14. Governin� Law;Severubility. Thiti Scruriry In�trument shall lx guvrrnrd hy Fcdert�l luw und thc law of the
<br /> jurisdiction in which the}'rape:rty is lucuted. In thc evrnt that any provixie�n��r rlau.c of thi,Sccurity Imtrument or the
<br /> Nou rvnflict,with upplirubie law. .uch conilict +hall nat uffect uthrr pruvisium of thi� Sccurity Inxentment or the Note
<br /> which ci+n lx given etfect wiihc�ut thc runtlicting pruvi.ion. Ti�thi.rnd the provi.i��m uf thi+Securiry Instrument and the
<br /> Notc arc declurcd to hc+cvcrablr.
<br /> IS. Borrower's Copy.Bormwcr shall lx given onc c��nti�rrned r��py of thi�Srrurity In+trumrnt. �
<br /> � 16. Assignment nf Kents. Bc�rn�wer unconditiunally uti�igm and tran�frr.tu LrnJcr al�thc rcnts und revenucti of thc
<br /> Property. $ottower uuihorizec Lender or l.ender ti a�;rnt�to collert thc rcntti and revenuc�and hrreby direets euch tenam of
<br /> the Propeny to puy the rentti tci Lcnder or I.cndcr:agrnt+. Nowevrr,prior tu Lrnder;nutirr to Borrowcr of Borrawer's ,
<br /> breach of uny covenant or ctgmemcnt in thc Srcurit�•In.trumrnt.Borruurr shall rallcrt and rercive ull rcnts and rcvcnues of !
<br /> the Pttipeny u.ttvxter fnr the benef t aF I.rndrr and liurrowec Thi,a�.ignmrm af rent�r�m+titute+an nfi�olute as+ignment �
<br /> �_ . � and not an usx�gnmcnt for udditiunul ururity unly.
<br /> � °- � If Lender give�notice of bmach to Hnrrower; c al au�nt.rereived'ny isorruu�rr�nui i ixr neid'oy normwer s,vu,�cc �
<br /> (or benetit of Lcndcr onty,io hr applicd to thc wm��rcurrJ by�thr Srcuritv Imtn�mcnt; IM)Lrnd�r.hull tx entided ta
<br /> ' collect und reccive ull of thc rentti of thc Property;und(c)rurh trnunt of the F�uExn�- �hall pay alI nnt,Juc and unpaid tu
<br /> Lender or Lendrr:agent on Lcndcr:writren demand ta the trnant.
<br /> � Borcower hus nnt exewted any prior sssignmrrn uf thr mnt. anJ h:►. nut :tnd aill nut ExrR�mi any act thut would
<br /> � � �, prevent I.cnder from cxcrci,ing it�right,undcr thi�Purugraph Ib.
<br /> F �. Lender xhall nnt tx�reyuired to enter upon,take cuntrol uf ur maintain the F'mprrty txti,rc or after�iving notice uf
<br /> � breuch to Borrower. Nowever, LenJer or u�udiciully ap��irned rrrrivrr muy du.o ut any tinu therc is a bmach. Any
<br /> � � � applicution of rcnt�xhull nc�t cure or wui��c uny dct'au{t or mvulidutc anq uthrr right or nmrdy of l.cndcr. Thi,n+.ignmrnt
<br /> of rcnts of thc F'rci�eny yhslhcrminutc whcn thc dcht,ccumd by thr Scrurity In.trumrnt i.paid in full.
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