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<br /> �;�'"�i ' .rr/r.a b'2'."" .'^-
<br /> . .� .��� pnyment�. which nre r�ef�med to in F'urngrnph 2,or change the umount of euch payments. Any exce�s procerde ovor un �...-;,��,_,__
<br />" • � �'?:. ` umountrequired to pay ell outstunding indebtednexs under the Note and this�ecudty Insdument ahall be patd to Ihe endty �'���;'~-=-
<br /> ,',;.,.� ;;'"~;_-_� :
<br /> � ' '�,�:,;; legnll entitledthereto. ,.:.�:;w.�,,�
<br /> � Fees. I.ender may wllect fees nnd charge.q uuthorized by the Secretary. ;; �,��,"'.<;.'"°:��=°_m
<br /> . . ., .'-,� 9. (irnunds for Acceleration of Deb� =-_�_�--� -
<br /> ° . (n)DetaulA I.ender may,except as Ilmited by reguladons issued by the Secretary in the case of payment defaults. '�"`�+��%'c�:"" =o-
<br /> . reyuioe immed'eate payment in fuil of all sums secured by this Security Inauument if: ,� Y{ . � �, -
<br /> � , (i)Borrower def a u lts by f a i l i ng t o p ay i n f u U a ny m o n t h ly payment required by this Security Inswment prior �±�``t:_°_ _
<br /> :- to or on t he due date of the next mon t h iy payment,or , . , �;�=.
<br /> ,- ,�
<br /> , (fi)Borrower defaults by faIltng,far a period of thirty days,to perfortn any other obli�ations coatained in this ^,,�,?;.��� ,.,�.�-_ _
<br /> Securlty Insavment. �: �'•�a�r•�Y-�
<br /> (b)Sale Without Cred[t Approval. Lender shall,If permitted by upplicable law and with the prior approval of the ��',', ••�-�;:-�:;�^-R=
<br /> Secretary require immediste payment in fuU of aU the sums secum.d by this Secudty Insaument if: ; _„:,y�.��ti"��
<br /> (i)Al!or pnrt of the Property.or A beneficial interest in u uust ouming all or part of the Property,is sold or N e'""�-��-
<br /> artIlterwise transferred(other than by devise or descent)by the Borrower,and � • •''.'-=��-:_
<br /> :..���:--—:P.=,
<br /> (nn)77es Ptropxrty is nat accupied by the purehaser or graneee as his or her principal residence,or the pwccPnas�r �� s
<br /> or� grantee d�es so occupy the Pro��y but his or her credi¢ Pias not been appmved in accardance .� ••:,.����';�:��"'
<br /> �rith the re:quic+emenu of the Secretary. `�"�`���;��,"';,°..�=-
<br /> ..��.��4;:,.e.i,'�T�"�-"__-
<br /> (c�1Vm Waivee: [f ci�+cnmstances csccur that w•ou➢d permit l.ender to reqvire imnmediate payment in full.but Leceder ;;,�,;,�i ,�,,,�,,.
<br /> �, d�s not requu�e such paymenu,Lender does not waive its righu with c+espect to subsequent events. :1;;;�;�, -__,_
<br /> � (aDD��latimms mQ HI1D Secretary. In many circumstances regulations issued by the Secretary will limit Lender's `�a"`� ° ----
<br /> : rishts. in !he ease of payment defaufts,to require immediate pa�me�t in fuil and foreclose tf raot paid. This :��e;-�;��__ :
<br /> •:�:.'�?' , Securiry Instruanera7 dces not suthorize acceleration or fos�ectosure if not permitted by regulauons of t�ee S�rretary. -;�'':•� � _:'°
<br /> :;;;:i�«:. . -
<br /> ��-�� (e)Mortgage Noi Insured. Borrnwer agrees that should this Security Ia��trument and the note secur+ed t�:r.e�ay not ..
<br /> be eli$ible for inswance under the National Housing Act within g months �Om�� _'�,�"'`�-`--
<br /> ,. � da2e hereof.i.ender may,at its option and eiotwithstanding a�3 thing in Paragraph 9,requir�e immediate payment im _
<br /> '""'� fuU of all sums secured b this Securi Inswment. A written statement of an suthorized a ent of the Secre • '-�'�= �--
<br /> .. Y h' Y B �Y •�:,.r��--
<br /> � dated subseguent to 8 mont hs from the date hereof,declining to insure this Securiry ��-' __
<br /> Instrument and the note secured thereby,shap be deemed conclusive praof of such ineligibility. Notwithstanding '� �-=-
<br /> � � the fdmgoing,this option may not be exercised by l.ender when the unavailability of insurance is solely due co � . ,���-
<br /> " Lexederk failur+e to temit a mortgege insurance premium to thr�ecretary. "
<br /> • ` 10. II4ei�statemen� Borrower has a right to be remstated if Lender has required immediate payment in full because '
<br /> __,� _ �� of Borrower's failure to pay an amount due under the�Note or this Security Inswment. '['his right applies even after ..,a a r„r'r
<br /> r •.--r- f6iii.I6Stii2 rwez.iiu�s � • ; s'tu • n�¢��;nea� �.,-rowcr sha!! tcadcr in a l u m �n m. a!! -•�� � .��-."�`�. �
<br /> .<,,.�;,�.• P, K ate d U kx3. TV 1Ct11DG1ZG t1ia owutdy 1 . F .�;;;�,:e '•'�
<br /> -� �� amounts requsred te hring Borrower's account cument including,to the extent thcy are obligations of Bo:ro�ver under this �;,y;.,;:�. y ,..
<br /> ^"`�'1'`� • ' Securit Anstr�ument,foteclosure cosGs and reasonable and custom aetorne s'fees and ex nses ro rl associated with :`
<br /> ., Y ary.' Y Pe P,Pe_ Y ,.;�;;�. �
<br /> �;;.:: the foree0osuae proceeding. Upon reinstatement by Bormwer,thiy Security Instrument and the obligauons that it secures �f��;;�f��, •• .
<br /> >��;�� sha(1 rem:ain in effect as if Lender had noi uired immediate pn�.•m�n:in fuU. However,Lender is not requfred to permirt � ;;� • ''���
<br /> �! �`;i :.; ; ,��
<br /> � ' � reinstaterreen� if: (i)Lender has accepted remstatement after the cnrnmencement of foreclosure proeeedings within twa ��:.:ry; . �
<br /> years Immediately preceding the commencement of a curnent torecloxure proceeding, (ii) reinstatement will preclude .{'k'it�:„ •_7k�- •;-
<br /> • foreclosurc on different groundc in the future,or(iii)reinstatement��il1 adversely affect the priority of the lien created by ;��`�'•
<br /> ) .L �S'�i`
<br /> �.V>i�.:.ti. . ��
<br /> ' this Security instrument. t?�tr�•�, ' � -
<br /> lI. �dorrower No! Released: Forbearance by I.ender h�t a Waiver. Extension of the time of payment or �
<br /> modification of amorti�ation of the sums secured by this Security in.trument grunted by Lender to any successor in interest � . .
<br /> � of Borrower shall not operate to releace the liability of the original Borrower or Borrower�successor in interest. l.ender
<br /> t;,;;s� shall not be mqtcir+ed to commence proceedings against any succes.or in inter�sn or refuse to extend time for payment or ;!�ji • � �
<br /> otherwise modi amoriization of the sums secured b this Securit Insuument h reason of an demand made b the ?`� �� �
<br /> •..�,..; fY Y Y Y Y Y . .. ` ��-
<br /> original Bornower or Bomower's successors in interest. Any forbearance by Lender in exercising any right or c+emedy shall �Se.;• •f� �j�s�_
<br /> not be a waiverof or preclude the exercise of any right or remedy. �y•�" �� '� ��
<br /> -. 12. �vrsessors and Assigns Bound;loi�t and Severa!Liability;Co-Signers. The covenan�ti and agreemen¢s o1F —
<br /> this Sec+3sracy Instrument shall bind and beneftt the auccessors and a;:i_ns of Lender and Borrower,subject to the pravisior�s 4 �`t;�'� �-�s
<br /> of Parugzra�h 9.b. Borrower's covrnants and ugseer.lemtt shall he joint and several. Any Bormwer who co-s�gns this ti��*•r: . '��
<br /> Security Instrument but does not execure the Note: ;a� is ro-signing this Security Instrument only to mortgaee,gsant and �,:: :•
<br /> convey that Bomower's interest in the Property under the tercns of thi,Security Imtrument:(b)is not penontttl� ohligated to , �_`_
<br /> • pay the saomns secured by this Security Instrument:and(c1 agrces that Lender and any other Borroa�er may agree to eztend. _;�,y�
<br /> • ,,{;.���>, modify,�'m.�bc:ar or make any accommodations with regard ta the tenns of thi+Security In.trument or the Note without thaa . --
<br /> :;s,,,::`� Borrav�erc's•:onsent.
<br /> ;{,1:'`. 13. !tioYiees. Any notice to Borrower provided for in this Srcuriry In,trument �hall be given by delivering it or by i � "
<br /> 1+__
<br /> r;�:�;;, � mailin�nC by first clu�.a�ail unless applicable law rcquires u�e of another methocl. The notire �hall be directed to the ` ,. '�/'
<br /> �t�;t�'�` , Property Address or am c�ther address Borrower designates by�notice to Lendec An� notice to Len der.ha l l b e given by I T i
<br /> ` first class mail to Lenderti address stated herein or any addre,. Lendcr de�ignatc+ by notice to Borrower. Any notice I ." _;;
<br /> � . provided ffor an this Security Instrument�hall be deemed to ha�e M_e,�Tiven tu Bormwrr or Lender when given as provided � ; �
<br /> �n this pacagraph. ' V .*
<br /> " ; Il4. Q;overning Lasv;�everability. This Secur.,� In+wmenc�hall ix� �;���emrd by Fcderal laµ• :►nd th� law of thr F �,;,
<br /> � � jurisdistion in which the Property ix located. In thr e•�ant that any pru�i+ion��r clauu uf this Secunty In>icumt:nt or the ; ;� •?;
<br /> ;�ote cor�$licts with applicable law,tiuch conflict,C::.:: aot affect other pro�i.iom��f thiti Security Intitrumeda c�r ehe I�otc , . ''i
<br /> � wt�ich cam be given effect w•ithout the conflicting pro�ision. To thiti end thr pro�:�iom of th�.Srrunty In,4eucr��nt and the I �'�y
<br /> t�� Note are d::lared to be severable. _!�
<br /> � , .
<br /> � .. r�:j�.:::.' US. i�arrower's Copy. Borro�.er.hall br given one cunfoimect cop�of thi.Srcunt} Gmc�:::�:nt.
<br /> ,•'•,�,tt�;<< Il6. .�lssignment of Rents. Borre�u�r unconditiunally:u.ige�sn�i tran.fzn c��Lende�:�fi v[te rcnt+:uid revrnue.of thr . ,-i�"�
<br /> ;�•'•t�;;; �'' ��.';�� Pro�erty_ BorrowerauthorizesLenderorLender�;�rer..estocollecrehrrenaar+sc•�nue.andhrrcbydirect.eachtenant��f ���, •; ..=°
<br /> ��''�'� .' • che Property to pay the rents ro Lender or Leader�z�•�nts. Ho�.e�er.pnar¢�T e.�idrr+notirr to Borrvwer nf Borrower� . , '
<br /> '����'•.�'• bmac3�of any covenant or agrcement in the Secunty h�:..crument.Borrower.haf[c��Hert and rerei�•e all Rnt�and revenue.of , a:,�;{
<br /> ' the Pragecty as trustee for the benefit of Lender and Burmwer. 'Ghi.ati+ignment of rent.comt�tutn an aMolwe a.+ignmeat '
<br /> ,:-,��a...- ..- _- orerl rt�v o,nu occionmwnt fnr�I�litinnol�aruritv nnla� ,�
<br /> --"�-----------._ _�"-"--�_. .._. _-_""'^-_'_"' .
<br /> � , . � Df Y.ender gives notice of breacb to 8ormwer: ta)all rcnc.r�cei�•ed b��Borma•rr shall be held h� Borroa•er ati tru�r�� `
<br /> • for benefit of Lender only,to be applied to t�e cum,.ecured b�•the Securit�• [n.trument:Ihl Lender �hall be entided to �
<br /> - collect and receive all of the rents of the Propetty::and(c)each tenant of the Pru}xrty�hall pay all nnt�due and unpaid t.�
<br /> .' ' Lender or I.ender's agent on Lender's wcitt.:n demand to the tenant. �
<br /> Borrower hati not executed any prior assignment of the rent.:ind ha. not and .�ill not pertbrm :uiy act that would .
<br /> �, � , . pmvent Lenderfrom exercising its rigi�ts under thi.F'aragraph 16.
<br /> • L.ender shall not be required to ente�upan,take�.ontrol of or maintain thc Proprrt� txrfi�rc or after gi��ing noticc��!' -
<br /> . ' • � br�each to Bormwer. However, Lende�or a judiciatly appointed rccei�•er may du,c+at any time therc i+ a brcach. 4n�
<br /> • applicatio�of rents shall not cure or waive any default or invalidate:sny other right ut mmedy af Lrnder. 'il�iti a..ignrne�t .�,�
<br /> , . of cents of the Property shall terminate when the debt secured b�•the Security Imtcument�.paid in full. ,
<br /> ;
<br /> � • irwe�r.�IJ�kr�i '
<br /> -,�.._ . .__ - .
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