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<br />- � `Y S;;° � ` � paYm�„wbicb are tefemed ta.in Farag�aph 2.or cq,ange she amount�f such�RaYments• AnY ex�P�o�s over an ;" �' ,�k� f,,y __
<br /> , ��� am�t iegnited w P�►Y itlf oubKUndiA�indebtedness ottder the Naie aad sbis Secguiry instmme,nt shrsl!he patd w the entity ��-.� �.+�� -
<br /> Fy,`�1�S` :: I CDtltkd thQCLO. . . ', �i*:�����
<br /> as `��� , " ,,� '�Fe�l.cnder may oollecx feas aad d�a�ges suthorized by th$Seccetary. �
<br />`F . 9 Grounds for A��ation of 6Ir� . . , w.F�:=`'�� " :
<br /> -� •�• •� .. (e)1Jefant� l.e�nder may,ezcept ns limited by cegnlations issued by the Serretary in the case of paymedi defa�ilts. ° � �;; �M =..
<br /> -- - .t��>:"-:S�`:t te4n�e i a�m:.d i a�paYm�t t i�f u U a f a!l s a m s s�u e d 6 y t l�i s��n r i t 3!i n s n i u c�t i f: � ;,
<br /> ia�m �- =_
<br /> �;�, �' • (i)Bomawer defautts by failiag ro pay m ful}as�y roonthlY PaY�eent required by ihis Security Im�uumeat ptiar .� T��r , � `
<br /> �-- - -- -�_-��.` wor�shadrte�ateof the aeat ma�h1Y Fa7►'��+� � '� �- -
<br /> ;';;,�'::'_`� , ('ri)Bamnzi�gr defautts by failing.far a periad of thirtyr days,to perform a�r other obliga�ians canrained in this ':'�. `:a`:: • `"`
<br /> � . SECUrity Insmtrnent ` ` � :
<br /> ' , (b)Saie�9ithout Cre�t Ap�roeIIt. Lender sball.if pem►itted bY$PPUcable iaw and wuh dte ptior agprovaf of the - :}. ,�';`�,� , .'
<br /> .' �e�y.cequne isnmediate payment in fu11 of all the sams sectued by tGis Secwiry bu�ume.nt if: •" -
<br /> ,,.E= � :• � <�>?; .S (i)A!1 ar part of the .�a 6enef cial inierest in a mut awning a!1 or part of the P m�rt}.is sold ar
<br /> . � � � otherwise naasfeired(o�aa by devise or descea►t)by ihe Bormuer,and - - a y
<br /> - , . ; ri)7T�e Ptnpesty is aoi oxupied 6y the pun3�aser or giaa�as Iris or her principal residenoe.or the p�a�e r �ti�;`�'' _
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<br />_ ' m grantes daes so oocupy th. Pmperty_6ui his or her ciedit has not been approved,in accordance �:.. -
<br />-;;` . . zvith the requia�ements of the Secietary. .. . "
<br /> (c)No Naive� Cf ciranns�anoes occur tt�t wauld ge�mit Lender to requi�e immediate paymeat in full:but Lender . ��
<br />._ ' does aat requn�e such payments.Lender daes Aat waive its dghu with respect to subspqueat eveau. • . �,,
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<br />--- :. .;:;::`:'-' (d)RegapatFas�oT AUD�e�tary. Ia maay cineamstances�gWations issued by the Secreta�y wiU limit Lead�'s ._,,-. �._.
<br /> �' � `F ;. rights, in th°,cas�of payment defautts.w requi� immediate paymeat in fult and foiectose if aat paid. 'R�Ls , }.'' �,'
<br /> ` �� Secunry Insucu(ieni does aot authoriu aooeleration or foreclos�sne if not gemiiued by teguiations of the Secnztary. `. ,,-,.
<br />. '�;``" :;::�'�������"��° (e)Mort�ge 1�Ioi Insared. Bomnwer agnees that shwid tius Seivrity tnsonrment and the note secuned theieby aot , _ ` - , . - .:s:.
<br /> - 'ti.,• :.e� ' ' � . , e .��,
<br /> ;�,,... ., '.:.�.: be eligibie for�nce under the Natio�l Housing Act wiUrin 8 moIIths fram tfte ' �. }:
<br /> '_�1 LS �.-T—}� �S -: ' . �ItE'Il'Aa�LETI(ICI-Rl3y.atits.o�tion and antEVithstancGng anythinS in PdragraPh 9,te�nir�e immedi.ate payment tin• .. .- -y °+�� � ��' f �.
<br /> . - !:��,i.tE,: fuil of all sums secured by this Serurity[nsn�mient Awritten sustement of any suthorized agent of the S� , ,��k � -.
<br /> • ' �''" da�l snbs�eat to� 0 FnOritP�e . from the date he�eof.declining tu insace this Sec�rity ..:, `F.,':�� Y,
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<br /> �r; �, i eni�ffid tt�e note secund thereb .shall 6e deemed conciusive ,f of sach ineli 'b�iry. Notwithstandittg :z�; 4 i=
<br />_ - .. ;�-.��,� - the fomgotng,tbiso�tian may not be p*e*_•�:_�+.by Lxnder wFtcv�vaitability of insurance is solely due to, . ' :;;:. ��. . - __'�_,�.-_•
<br /> ,���,'��"r� � [xnder's failuie tu rtma atnnrtgage insurance piemium t�i tii���+et�ry. .:4�•,-, . : x �.
<br /> '°+�r�3�° 1Q IEeinstafimea� Has�ow�.has a right to be zeinstated ifL+�r has required immediate payment in fuU 6ecause ..�` � � _
<br /> � - ,,,S.���i' of Bamnwez's Fa�u�e w aa sa�6nnt dus ander the•1Vote ar if�i"s�'�ec�tti InstrumenL This ri t a hes even afte� �' � �� ,` �, `
<br /> ,.rr��, .� � �• ;. .�-;: ' �-��:�:.
<br /> r. ,-., foreclosnre prooeedings a�ie instittited. To�instate the Secutity G7suumen�Bomnwer shall tender in a tump sum ali ,.. ,�,:. .:. .i `i,
<br /> _ , .;� __ : . amounts reqiuied to-6rimtg Bomawes's accouni cartent includ'aig.to the extent they are abligations of Bonower under th� - _• ��..:�
<br /> �, ; � Seauiry Insttument�foierlosute costs and reasona6le and customary attomeys fees and expenses properiy assoctated wUh ..
<br /> �' � . the foiedosure pnace�ding. Upon.minstatement by Borrower.this Security Inshument cnd the obligations that it sectires � : f . '% �
<br /> ��� • shaU remain in effec[as if Lender had not uued immediate a ment in fuU. However,Lender is not ued to er�i1:' ." � �,.,.�� `'•'
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<br /> - - �'r�.�,a; reinstatement i� (i)Lender has aompted reinstatement after the commencement of foseclosare prooe�dings within n�u- . ;;•,,: �t•'•�s:��s'�� .
<br /> ,.:.{� r`��°n e��:�,,
<br /> +'`i�:�4:r:�.� years immediately preceding the cammencement of a cvirent farectosune pnoc,eeding. (ii) reinstatement wiU preeloid�. .:� ;,:` ';I�'��F�;;
<br /> - ..a:,:s4'c,. , "�� � �,.� ' .7'.� �•.
<br /> '- --. - -:,,•-r�.;:-. fomclosure an different gmunds in the futuce.ar(iii)reinstatement wi11 adyersely affect the priority of the lien c�eated U�j��::'':;' '';>��,;_-.- .- y
<br /> ; , . , this Security Insoiumen� • `j� L��"�,
<br /> '��'•�"•" • 11. Borro�ver Nat Ide�easetl; Fotbearance by I.ender Ntot'�Wai�er. Extansion of the time of payment o�;�'�•: .� .:�.;�- :
<br /> , modif�cation of amartization of the sums seeured b this Securi tastrrsment ted b l.endra�ta an successor in�n0ecr=� ' '�
<br /> ''� ��:�-�`•:}`.``. Y tY � Y Y �'iif;; ��
<br /> � :;����r;;.�;�• o f B omuwer s h a l l not operate to ce laase t he lia bi li ty o f t he origirus l 8 uirower or Bo r r ower��n u e s s o r i n i n t e re s i. L e��r� �� , .
<br /> . ,..a,�,r,.,,,...� .
<br /> _ � ,r �w�� -• shall not be required W commenoe proceedings against any successor in interest or refuse tb e�tertd time for payment�'• �`' • • " _ __ _ ;`=r-
<br /> � �:,?(:'„'�": � . '
<br /> otherwise modify amortiration of t he sums secured by this Securiry lnswment by reason of any demand made by the , ; _..
<br /> ':` . '�-r� :��"�' � ori Borrower or Bomnwer's saccessors in interest An forbearance b Lender in exercisin an ri ��rrem shall �. �i� � ,��'�'J�
<br /> `, •>.. . � Y Y S Y � �7+ :: � ,- �;:.�
<br /> '' ' :� ` - ..��i��; aothe s waiver of ar preclade the exercise of any rigfit or reme�y. < . �, '�,�rt , ,��
<br /> =`��;;�i.�r' pL 5uaoc�ors and Assigns Bound:Joint and Several t.iability;Co-Signers. The cr�venants:��eernenu of .. . �;;`�;';;�:� ,•-
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<br /> ;.: � , y,„_.., this Se,�i3�Instrument shall bind and benefil the successois and as.cigns of Lender and Bomiw.i�;se�6je�.-s t�the pmvisao�-c , �
<br /> • , • of Par�'�h 9.b. Borrower's ca��enants and agreements sh�ll i�e joint and several. Any t?.orrower a�0,co-sjgns t1Y�s '.';�;r ���';4'�� �
<br /> �, t..,..�;.
<br /> �' ' ' . " • Security Instrument but dces not execute the Note: (a)is co-si�ming this Seeurity Instrument only to��ge,g�ant and ':s� ,,.�a;jS�'z��;�4'•,,._,_:�
<br /> ' � ' ' ' wnve that Borrower's interen in the Pro rt under the terms of this Securi Instrument;(b)is not rso�str obli to • ` " '
<br /> ' a,;•�i:� Y Pe Y t!' F� Y 8a� � .i:�;�:,•.. .^.:;,`;
<br /> � '��``" pay the sums secured by tbis Security Inswment;and(c)agrees that Lender nnd any other Borrowermay-.�ree to extend, '����. � •• �
<br /> ,,���,,� •�.�.;, �:. t: �. . . •. �
<br /> m o d ify.f o r b e a r o r m a k e a ny a c c a m m a d a t i o n s w i t h mg a r d t o t h e t e r m s o f t h is S e c u n t y I ns t r u m e nt or t he Note without that ',€;?� •`�: • ��^
<br /> .�;:;."• ` � ' Bortaa�x'sconsen� . .. :.`;�;�r. '� ;:,,:t���,;��„ ••_ :
<br /> ,i<<,';,�. ; �• �;�.,,,;,Y,:; �. �,�, l.�o�tices. Any notice t�H���rower provided for in this'Security Instrument shaU!s=gnven by detivering it or by y,...,�.:v:��jz;�;;: :;
<br /> �' s' : '�'.�.
<br /> '� ;� J�y��;:,':;�',';.r.;,�`ti,�=;;t' m�ilirs�ut�:p fc�t.�:t,:s: mail uttli���pplicable law requires use ��f another me:had 71re notice shall be directed to the • •
<br /> , ;��R,�r�r .. , � Prop�±r.�:;,�r���x;ari�, r�iher adctres's Borrower designates by nntice to Lcas,i;:r. Ar.y noticr to Lender sl�;.tl be given by ��'��•' � • .
<br /> > ,��;�si ,t.;,,. , ': fias�s:.Si:�t;•�.i:a I;���dr�r's address state� herein or any address Lender d:9.�nates by notice to BmraRZr. Any notice ��;'��',�•.' , • . -
<br /> '.�- ,;,,,�1��.;, .�. pray;ai[a'r•t`os in this S�curity lnsmtment shall be d�eated to ha�4 been given to Borro�ver or I.ender w6en given as provided � :' � � • •
<br /> t:�.r •
<br /> , , .:. ' .,.�»., .: in thiY.�;u�caph '• " ,;t.;{,...
<br /> ' � ` '��t`''` '•.1:Jk cr"mveming Law;Severahf3N.y. This Seeurin�In�tru.iri-rnt shall be govemed by Fcderal law and the law of the •i;;i;;;;;•.
<br /> - �.i;`:� • jruis�ii;i.�sn in which the Property is tocated. In ttte c�er,i t�sal,eny provision or clause of this Security inswmerrt or the ' ��<��<<:,�:,••
<br /> ;;.;�l�j',: ''l�i�te conflicts with applicable law,such conflict�iiall not s�7iixr other provisions of�his Security Instrument or the Note ' ��� !:
<br /> .1J��� � �� which can be given effect withoW the conflicting provis'son.��'o this ertd the ptovisiuns of this Seeurity Instrument and the t�.;,,, ;
<br /> �,;,.:; ,
<br /> ;;�.r..;,;.:, Notearedeclaredtobeseverable. +:�;'.' .''�,;::.,
<br /> ;°�:'�i`s,� .:; ;; ,;,�:.• • �5..�dorrower's Copy. Borrower shall be given one confor�ted ropy of this Security lnsnument. . ,,,�;,,.�,�'.
<br /> j�;h�' �°'1{.;�•� : �`.�:Assignment ot Rents. Bomnw•cr unconditionally assign�and transfcrs tn Lcndcr al1 the rents and revenues of the "������'` � • :�'s1:'
<br /> �.�3tir�'..,:. ...,t'1�.:.,�q..;.>.�:,, � ,.. .
<br /> .���v.;;.+._ ''S�..,"r,,.^ „ Pcopesty_ Bomawer authorizes l.ender or Lender's agents tn cn1►NCt the rents and revenues and hereby dicects each tenant��f
<br /> )�����`' ''��'�•" • ttte to a the rents to Lender or Lender s a ents. Howe�er. riar to Lcnder's notice to Borrowes of Borrower's �� '
<br /> ���;.,•,,•. :.� . �fi' P Y F P
<br /> •'� �yr;`j�i�.:.':•• • 'hi��af any covenant or agreement in the Security inrtrument,Bo�rower shall collect and receive a11 rents and revenues of
<br /> : ;'�;;: •�: �• • ..k��Qn��etty as tmstee for the benefit of L.ender and BarroWcr. 'lf�is assignment of rcnts consGtutcs an abwtute atsignmem �. ,
<br /> :: . . :,.;;, • , . alnd anE an assignment for additional seciuiry only. '
<br /> '° - • ->':���% � ' E�'f.�tder gives notice of bmACh to Borro«e�: (a j all rents received by Borro«er shall 6e held by Borr�uer tts ttustee i.
<br /> -� , � � .
<br /> - ' . �'r'' "• for Denef t of Lender on1y.to be apptied to the sums secured by the Security lnstrumen�(b)Lender shall br enutled ta ,
<br /> ` ' colleet and receive all of the rents of the Property:and Qc>each tenant of the Roperty shall pay all mnts due and unpaid to
<br /> `; i. , . . Lender or Lender s ag�nt on Lender s writtere demand to the tenant. �
<br /> j � �. . ,� • . Borrower ha4 not executed any prior assignment of the rents artd has not�and wil!not perfmm any act that wauld �
<br /> ; s.L� . � �,� ;.., pievent Lender from ezercising its nghu under this Paragaph 16. � �
<br /> !.. ''. •'�'���':�; �.. I.ender shall not be requimd to enter upon.take conuol of or maintnin the Property befom or after giving notice of i • .
<br /> ' '. �:��''i-�'�• ' breach to Borroaer. However.Lender or a judicialiy a.ppointed roreiver may do so at any tims there is a breach. Any '-
<br /> � i;, `��: ��'h�.�'' appliqritrn of renu shall noi cure ar vvai�•e any defaWt ar invaftd±te any other right or remedy of Lender. This acsip�ment � �
<br /> . �,i , '. " of tettQS of the Ptoperty shall terminate witen the debt secured Dy the Se�cwity(nswment is pa�d in full. ;
<br /> :�:._� _ . • _.
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