|
� . ;_ �W v � ..�� �� �.��
<br /> _ - -- - —
<br /> .
<br /> �. -
<br /> ..._ _-.__ _ ..._.� __ .,,-� . � , -�..,,;_,.:E -W;<s.,- - -•.—-- --�`- , - ,,.`4r. ,-ur^^^-.�...� ,_„w,.�.�3--�_.,�• �
<br /> • - ,. - . • . :, . . . "' ' �• :•''y_*:T_.-_..
<br /> ; .�. .. I' ,. . . .. . � • .
<br /> - . �� � . . . •. ,. . . . � . .� . ' _.
<br /> . ., �. � ..,.,�'� kdw� ,� �� .
<br /> �� - i � '•:',Yi$ . �,� . ., . . .. ^ ` I >
<br /> �
<br /> , ' .. '.
<br /> ' ��.,�1R�V ' ... _,. ..... _ - .
<br /> . •
<br /> , . . .. _ .._....._.._._
<br /> ' � .• -'..-. ... . ...-'----"-"--.r._.:._..._�......._„ .. _,..
<br /> .-...._.-...�_.. . ....... . . .. ... . .. . ... _ _
<br /> ._ i�..;r�.��y`�'iYi;:--_-
<br /> ��� y
<br /> . 9�r' �Da�i�va�� ___�.����:'
<br /> - • ��-_t. - "-
<br /> �\ • �•'•�'�,^`_
<br /> payment�,which ure referred ta in Pnrn�n+ph 2, or change the nmount af+uch puyments. Any excess proceeds aver an ,a,.;�:.-;;,,,_
<br /> Rmount required ta pay all out�:tanding lndebtcdnesc under the Note nnd thiw Se�u�ity In�tcument shnU bc paid to the entity `.���,�, :
<br /> • , legaliy entided thereta. '� �� _
<br /> , 8. Fees. Lender may collec►fees und churges author�2ed by the Secrctury. . �`��'
<br /> 9. �roande tar Accelerutlon of Dsbt. .`�"�`���-=`�`�
<br /> • . (a)Dafaul4 Lender muy,except us limited by regulations issued by the Secretary in the cas�of pnyment defauits, s:.�:-;:�-
<br /> � . require immcdiatc�uymcnt In futt of ail sums sccured by tfiis Secnrity Instn�ment if:
<br /> • . (i)Bocrower defaulta by failing to pay it�full any monthly payment requlred by this Securlty lnswment ptior �=���_=^�-L
<br /> -.- " •�• to or on the due datc of the next monthiy payment,ar .�.�;___:_
<br /> (fi1 Botrowet defaul�s by fuiling,for u period of thirty days,to perfarm any othCr ubtigatlons contnirtc�it�this �_;°;�,,:.__----
<br /> Security Inswment. T'�_"�
<br /> (b)Sale pp !x Y PP� P pP ���==--
<br /> Withont Credit A roval. Lender shall.if rmitted b a ltcable law und wlth the rior a roval of the �:,.,.�.-a�----
<br /> Secretary.require tmmediate payment in full of all the sums secu�ed by thi�Securiry Insttument if: "�''�'.`-_
<br /> e
<br /> (i)All or part of the}'roperty,or a beneficial interest in a uuat uwnins all or part of the Property.is sold nr �'�'`'=�'--
<br /> � otherwise transfemed(other than by devise or descent)by the Borrower.and ��_'�__
<br /> (ii)T'hc Praperty is not occupied by the purchaser or grantee as his or her principal residertce,or the ptuchaser �.—
<br /> ' or grantee does so occupy the Property but his or her credit has not been approved In accordance _
<br /> with the requirements of the Secretary. ��.
<br /> � (e)No Walver. If circumstances occur that would permit I.ender to require imme�iate payment in full,but i.ender �_
<br /> _�,. dces not require such payments.Lender dces not waive its rights with respect to subsequent evenu.
<br /> (d)Reguladons of 1HWA S�creBary. In many cne+cum�stances regulaaoces issued b�y the Secretary wili limit Lender's �---- -• •
<br /> ` . rights,in the case of payment defauits,to rec��ire immediate payment im fud8 and foreclose if not paid. This ��;;,,_T
<br /> re
<br /> Security Instrument d�s not auihoreae acceteratnon oa foreciosuce i[no2 pe�xnitted by reguladons of tfie Secxetauy. ��,5'.::«-_
<br /> � . (e)NGorigage Nmt H�suret9. Borro��er agrees that shmuld this Security Ins mea�t d the aate secured thereby nat �Ol.��r4`°_
<br /> ' �' ` ''"�=�' be e4d�it�9e for insurance under ahe�ational Housin Act w•ir,aiin �m¢aa�ia from ths S�'�^��"�
<br /> ..;%;�,•`�,;'.. `''r"p-, S ,r4F�fS=�
<br /> ;`,�,,�,.k ,;��: date hereof,Lende�m�y,at its opiion and notwithstanding anyehing ir� Par�gr�ph 9.require immediate pnyment ure 1�(�f�;�;;r;,---
<br /> r;._:,';�;', �' fulE of a1l sums sccured by this Sec rity Instrument. A writt¢n statemxnt of un authorized a ent of che Secre t"�"''�' °-
<br /> q Y g �Y .ti�.;:;,�:"���
<br /> €rom the date hereof,declinin to insure tlais Security� �:;i;�;��`+�r�'-"-
<br /> �s..����,`:'�- dated subseyuent ta 8 moriths g �„ `
<br /> �; lnstrument nnd the note secuced thereb ,shall he deerteed conclusive roof of such ineligibility. Notwithstanding `i?'�:•J f;'sy_�_"=
<br /> • . y p '-�,�_;�:°`
<br /> .;;,;;•., the forcgoing.�his option mA}• not be exercixeai by Lender when the unavailability of insurance is solely due to , 4
<br /> .,>....,., �'��i:�:'"
<br /> •;,�... _ Lender�failuretc�remitamnorrtgage insuraneepsemium tothe Secretary. .�:__._.
<br /> 10. ReinsQatemenQ. IDorrowmr ha:a righ¢ro be reinstated if I.ender has requireJ immediate payment in full because �;__
<br /> � of Borrower's failure to pd} an aanoun[due under the•Note or this Securiry Instrument. This nght applies even after ��,_ -�
<br /> . . - forcclo;qte proccedings ::� in:tiitste�. T^ rPjnc(g�P(}!P CPCIIT1IV Instrument. Bornower shall tender in a lump sum ell �.-,.:_,,.-
<br /> amounts reyuired to'bring Borrower's account current including,to the extent they nre obligations of Borrower under this �::`�=
<br /> Security Instrumen4 foreclosure costs and reasonable und customary nttomeys'fees and expenses propedy associated wtth "•`''�":;-
<br /> ' � the foreclosure proceeding. Upon rcinstutement by Borrower, this Security Instrument and the obligations that it secures �,��;`�_
<br /> . shall remain in effect as if Lendcr had not reyuired immediute puyment in full. However,Lendcr is not requtred topetmit �',,+-�_-
<br /> reinstatement if: (i) Lender has uccepted reinstatement ufter the rommencernent of forcclosure proceeding�:within two � `�y=°
<br /> yean immediately preceding the commencement of u current forrcloxure pnxeeJing, (ii) reinstntement wiQ preclude •
<br /> forectosure on different gmund,in the futurc,or(iii)rrin.tutement will udver+cly affect thc priarity of the licn crcuted by
<br /> this Security Instrumcnt. _
<br /> ' 11. Borroxer Not Relet�d; Forbcarancc bv I.e�der Not e Wuiver. Extension of thc time of payment or _
<br /> - modiftcation uf amortiraition af the sums sewred by thi+Scrurity Intitrumrnt granted hy Lender to any successor�n interest ;
<br /> of Borrower shall not operAte to releuse the lisbility of the origina� Borcuwer cx Borrower's tiuccessor m interest. Lender -.
<br /> . shall not be rcquired ro commcnce procceding�ugmn+t any,ucce.,or in imerest or refu�e to extend time for payment or
<br /> otherwise modify Amortiration of the sums tiecured by thiti Security Inxtrument by rea+on of any demand msuie by the
<br /> original Bonower or Borrowert succe5sors in interetit. Any forbearance hy Lender in exercisins any right or remedy shall rt°;,,
<br /> not be a waiver of or preclude the exercisc of any right or mmedy. `r _
<br /> � ; 12. Successors and Asslgns Bound:Joint and 5everal Liability;Co-Signers. The covenants and agreemenu of .
<br /> ;,. . this Security Instrument shall bind and benefit the succ�s,ors and a�sigm of Lender and Borrower,subject to the provisions
<br /> •�••i�� of Parugraph 9.b. Borcower's covenant� and agreemenn ,hatl b e joint An d scvcra l. Any Borrower w h o c o-s�g n s t h i s
<br /> ,� �,� ,;, Security Instrument but daes not execute the Note: (a) ic co•tiigning this Securiry Instrument only to mortgag�,grant and
<br /> . , convey that Borrower's interest in tlx Property under the terrn.of this Securiry InstrumenC(b)is not personally obl�guted to
<br /> pay the sums tierured by this Security Iostrument:anJ(c)ugree+that Lender and any other Borrower rnav agree to extend.
<br /> . modify,forbear or make any accommafationx with regard to the ienn,of thi, Scrunty In�trument or the Note without that • �
<br /> Borrower's consent. '��� �'�'� '
<br /> 13. Notices. Any notice to Borrower provided for in thi�5erurity Instrument shall tx given by delivering it or by
<br /> mailing it by firxt clas. muil unle:+s applicablc lau�rcyuirc,u�c ut' another rneth<�d. 'Ihe notice shall be direrted to the
<br /> Property Addres�or any other addres,Borrower de.ignateti by notire to Lcnder. Any notice to Lcnder,hall be given by
<br /> fint class mail to Lender ti ucldre�+statcd herein or any adJrc++L�ndrr dcsignate+ b�•natire to Borrowcr. Any notice
<br /> � provided for in thic Security lnstrument 4hu11 Ix�dcemrd tu ha�e Ixrn giv�n tc�Borrower or Lrnder whrn given as provided ,
<br /> � in this paragraph.
<br /> 14. Gove�nin�;I.aw; 5ererabillty. Thiti Srrurit� ln.lrumcnt �hall tk gu��emcd hy Federal law and the law of thc
<br /> juri�dietion in which the Propeny i� located. In thr event th:►t any pruvi.iun ur rlau.r of thiti Sccuritc In�vument or the I
<br /> Note conflict� with applirablc law..uch cemflict .hall rx�t affect othrr pru�i.ium uf thi� Srrurity In�trument c�r the Note i
<br /> which can lx given effect without ihr cuntlirting pruvi,iun. Tc�thi.end tlx�rnvi,iom of thi.Srrurity Intitrument and the
<br /> Note are dedamJ to tx.evcrable. .
<br /> 15. Borrower'x Cupy. Bun'uwCf+hall Ix gi�•cn c�nc cunfcirmrd cop�uf thi�Scrurily[mtrumrnt. �
<br /> 16. Assignment of Rents. Horco��•rr uncond�ti�mally a�+igm and tran.fer.n�l.ender all thr rcnt.and revcnue.of the
<br /> Property. Bormwer authonic.LcnJcr ur Lcndrr�agrnt.tci culha the r�nt�und rr�cnue+and hrreh� dircct.cach tcnam of
<br /> the Nroperty t�pay the rent�ro Lendcr or Lendrr:a�cnt�. iioxrvrr,pri�x t��L�ndrr:nc�ucr to B��rruH•cr of Borroa•cr'.
<br /> breach of any covcnant or agreemrnt in th�Scruritr Imtrumciit.B��rro�«r�h:sll re�llert and rrceivc ull rcnt�and mvrnue�e�f
<br /> � the Property as trustec for the bencfit of LenJer and Rc�rr��wrr. 'Thi,a..i�nm�m i�f rcnt�run.titute.an:+h�olutr u��ignment
<br /> a.u1 nnf an a.eivnment for additional tiecuritv onl��.
<br /> If Lender gives notice of brearh to Beirrowrr: ��)all nnt.rcceived b�• E3urc��wcr.h:Ul ttC htld hy ttuttoa•�r n+tru,icr
<br /> for bene�t of Lender only,to t�e appli�d to the wms �erur.d h} the tircurity ln.trument: (h) Lendrr�hall lx entiticd to
<br /> collect and receive all of the rcnts of the Proprny;and tr)earh tenam of Ux Pmprny �hall pa� all rent+due and unpaid tu
<br /> � Lender or Lender's•agent on Lendcr:written demand to the tenant.
<br /> ' � . ,!;' Borrower has not executed any prior assignment of the rcnt� :md ha+ nnt and will not perForrn any a�t that ��uuld
<br /> ' � ��',�`• prevent Lender from exercising its nghts under th��Par.igraph 1 h.
<br /> • � � Lender shall not be reyuired io enter upon, t;il;e contrul uf or maintain thr I'roprn}• hrfore or a(ter giving notice of
<br /> breach ro Bomower. However, Lender or a judicially appointrd receiver ma�•c�o,u at any time there is a breach. An}�
<br /> appliration of rents shall nut cure or waive any�default or�nvalidate any� e:thrr right or remedy of Lendec Thi�a.,i�;nment
<br /> � of rents of the Property shalt terminutr when the deM serurrd by the Securit�• In+trumrnt iti}��id in full.
<br /> rp��er�.��d p,�e.�.�
<br />
|