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<br /> _ . �'4'� 40�q"i�
<br /> �Yrtxnt�,which ue rcfcrmd tu in P�gra Y,r�r chu��e the xmuunt of'�uch p�ymenti. Any carea�prreeed� aver�n
<br /> , �mount tnyuirecf lo pRy dl owswKline inde�edmu under t?�e Notc ud this Sa:urity Inatrument ahdl lx p�1d to the entity
<br /> lepll enti�lal thercw.
<br /> �, pw�, L,e,�xle�rtuy cd{r,ct fee�rrwJ ch�rge�authorized by G'x�rctuy.
<br /> 1. Gror�Ibr AcaMndo�d DeM.
<br /> _� = _-- _- , (�)UQitult. Lendermsy,eaeept aa Ilmitad hy re�ulad�n.+ia�uecf by the Socrctuy in the cae nf Mymait defnuhs,
<br /> _ f'EqY11�C�1111i1C1j1�tEpa ytntnt�u iuSi vi r��Y►i��ur w�.Ji.,.i�j G:i.w.s4�ll}I1wGlili:.:�ll�f: _
<br /> (i)8ortower�iefwlt�by f�iling w qy in full u►y manthlY p�Yment royuire�f 6y siil�Sacurity Imtrument prior
<br /> to cx c►n the duc d�te af the next mnnthly p�yment,or
<br /> (ii)$ocmwer defwlts by failin�,for a pcnai of Oifny deya,to perform any other nbliguions con�Ined!n thia
<br /> Security lnstcument.
<br /> (b)S�k Withwt Credit Apprt�rd. Lcnder Rhall,if permitted by uppliceble law ur�d with the prior approvxl of the
<br /> Secre ui i the sums securcd by this Sccurity Instrument if:
<br /> --- --.-- �iy�jj a�y� aI Intcnst in a mist owning all�r pan of�he Pmperxy,is+old or
<br /> otherwise tr�isf ( �19�j►'", ur descent)by the 8ormwer.and
<br /> (ii)The Prnperty is noc accupied by the parch�.cer or grantee as his or htr prinejpal residence,or the purchaser
<br /> or grantee daes so occupy thc Propercy but his or her creclit has not been apprnved in aceordanco
<br />- with the�rquirements of the Secrctary.
<br /> (c)No Walver. If circumstances occur that would permit Le��r to require immediate paymer�t�n full,but Lender
<br /> does not require such pnymenu.Lender does noR wuive its rights with respect tu subsa{urnt events.
<br /> (d)Re`ulsitbna c�!NUD Secretary. In many circumstances regulations issuaf by ths Secretary will limit I.euder's
<br /> -- �igi►is, iii ti�i.: casc. of paymcnt defaults, tv re�.�lte immetl+ate payment in fu11 and fomcinsr. if not paid This
<br />- Security Inswn�ent docs not authoriu accel�ratco�or foreclosuce if not permitted by reguludons of the Secrctary.
<br />;��� (e)Mortgage Not Insured. Borrower agrces that sh�uld this Security Insm�rnea�t and thc nota secured thec+eby not
<br /> -- be eligi�lc for insurance under the:�iaiionxl Housing Act within $ �y'��S from the
<br /> — date hereof,Lender may,at its antion t�nd notwithsusnding anyt�`�ing in Pa��ugaph 9,mqu9rc aanmediate paymertt in
<br /> full af nil su�ns xecured by this Security Instrur�enL. A written srntement of Any authorized agent of the Secre[ary
<br /> - dated subsequent to e �}�g from the date hercof,declining to insure this Sacurity
<br /> Instrument and Ihe note secured thereby,shall be deemed conclusive proof af such ineligtbility. Notwithstanding -
<br />,M1��,���'� the foregoing, this option may not be exercised by Lcnder when the unavailability of insurance Is solely du:to
<br />-��?��� I.cnder's•failore to mmit a mortgage insurance premium to thc Secretary.
<br /> '�Y � 10. Reinstatement. Bo*rowcr has a nght to be rcinstated if Lender has mquired immcdiatc payment in full Ixcausc
<br /> of Borrower's failure ta pay un amount due under the•Note or this Sccurity Instrument. This nght applies even nfter
<br /> forectosure proceeaings are insricuced. Zu trin:�iaic iicc aci.i3i�ty lssiru;s��i, LZSIT��Vt sl�a!! t°.s;�;.r in :: lump xss::Z r!1
<br /> amounts reyuir�d to•bring Borrawer's Account current including,to the extent they ate obligations of 8orrower under this
<br /> Secudry Instcument,foreclosure costs and rciu:onable und custamnry attomeys'feeti and expenses pruperly assalated with
<br /> the {'oc+eclosure praceeding. Upon reinst3tement by 8arrower,thiti Security lnrtrumenc and t'�e obhgations that it ucurey
<br /> xhall rcmain in effect as if Lendcr had nat rcyuircd immcdiate payment in full. Howevcr,I.endcr is not rcyuired to permit
<br /> = rcinxtatement if: (i) l.snder has uccepted remrtatemcnt ufter the commencement of fareclorurc pre�ceedings withm t�vo
<br /> years immediately preceding the commencement of a current foreclusum pncx:eeding. (ii) reinstutement will prcc:lude
<br /> foreclosure an different grounds in the fuwne,ur(iii)reinstatement wiU u�versely uffect the priority of the licn created by
<br /> this Security(nstroment.
<br /> 11. Bor�ower Not Relensed; �orbearance by Lender Noi a Wniver. Extension of the time of payment or
<br /> modification of umortization of the sums secured by th►s Su:urity Instnnnent granted by Lcnder to any successor in interest
<br /> of Borrower shall not operate to release the lisibility of the original Borrowcr or Borrowcr's successor in interest. Lender
<br /> shall not be mquimd ro commence praceedings a�ainst nny successor in interest or refuse to extend time for payment or
<br /> otherwise modify amortizapon of the sums secured by this Security lnstrument by re:�son of any demand made by ttK
<br /> original Borrower or Borrower's successo�in intemst. Any forbearance by Lender in exercising any right or remedy shall
<br /> not be a waiver of or prcclude the exen:ise of nny right or remedy.
<br /> 12. Successors and Assigns Bound;J�int and Severnl[.iability;Co-Signersi. Thc covena�ts and ag�eements af
<br />- Ghis Security Instrument shall bind and benetit the successors and assigns of Lender and Horrower,subj�et to the�r�visions
<br />= af Y�uagraph 9.b. Borrower!� covenanGs and agrcements shall be joint and sevez<d. Any Borrower who co-signs this
<br /> Secarity Instrument but does not execute the Note: (a) is co-signing this Securiry Instrument onfy to mortgage,grant And
<br /> convey that Horrower'.s intemst in thc Property under the terms of this Security instrumenr,(b)is nat�scrsonally obligated to _
<br /> pay the sums secured by this Sccuriry Instrament; :end(c)ugrecs thct Lender und tiny other Borro�ver may agree tu extend.
<br /> modify,fot�aear or make any accommodntions with regard to the tetms nf this Security Instrumen4 or the Note withoui that
<br />` ' Borrowcrk wnsent. -
<br /> '�;. �'''`"'"" 13. Notices. Any natice to i3orrowcr provided for in this Security Insuument shall be givcn by delivering it or by _
<br /> ,. .s: �
<br /> 7 " ��� mailing it by fint class r►zail unless applicable law nquires uae of another methal. Tlie noncc shall be directvd to the _
<br /> •'� �_ Property Addmss cr:u�y othcr addn:sti Botrowcr designates by noticc to l.ender. Any notice to Lcndcr shall be given by _
<br /> '��;-s%� Crst class mail to Lender's address stated hen�in or uny addrsss Lender designutes by notice to Dorrower. Any notice _-
<br /> °��%� �rovided for in this Securty Instrument shall be deemed to havc tx:en givcn to Borrower or Lender when given as providcd -
<br /> � ''`�' m this paragrapl�. �`
<br /> -��"a�.~ 14. Governin�Law;Severebfllty. This Security lnstrument shall lx�ovcrned by Fedcral law:u►d 1F.e law oF thc �
<br /> jurisdiction in which the Property is locuted. In the event that uny provision or clause of this Security Instrument or the �'
<br /> ��'•;'� Notc conflicts with upplicable law,such conflict shull not affect other provisions of this Security Instrument or the Note �
<br />__ � �,� which cun be given effect without the conflicting provision. To this end the provistons of this Sec:urity Instrument:utd the 1
<br /> "'n' Note ure declared to bc sevcrable. .
<br /> 15. Borruwer's Copy. Borrowcr shail be givcn one conformcd copy of thiti Security Instrumcnt.
<br />, 16. As.slF.nment ot Rents. Borrower unc:onditionally assigns and transfers to Lcnder all thc rents aitd�venues of the -
<br /> �•���;,;�:<�� Property. Borcowcr authorizes Lcndcr or Lendcr's agcnts to rollect thc rcnts and revcnues and hcreby directs each tenant of i
<br /> �.,�.c;-.. •.:.....
<br /> � �" !hc Property ta pay the rents to l.�nd:r or Lcndce z agcnts. Howcvcr,prior to Lendcr's noticc to Bonowce of Bormwcr's•
<br /> �'`'••' ' brcuch oF any cuvenunt ar agrecment in the Security Instrument,$orrower shall collect and n�ceive afl rents and revenues of
<br /> �:•�,<, .`•,,.,. ; �
<br /> .��3�t�:�.• thc('rnperty as t�vstcc for the bcncfit of Lcnder and Borrowcr. 7his ussignmcnt of rents cons[itutcs un absolutc stisignment ;
<br />=, ��..;;.,��..��,�, and not an assignmcnt for add�t�onut sccuriry oniy. ,
<br /> ... t ,i.rn
<br /> � :;�.:;,�,�;��,-,. If Lcndcr gives noticc of bRach to 8orrowcr: (�)all rcnt�ceceived by Bormwcr shall bc hc(d by Borrower ss uvstce ,
<br />��1 ' ' � =.Sif. for benefit of Lender only.ro be applicd to dhe sums secured by the Security Iustcument; (b)Lendcr shall be cntitlul to �
<br /> �� col(cct nnd receive all of the ren�ti of the Property;:u�d (c)each tenant of the Property shall pay all rents duc:utd unpaid to �
<br /> ! : .,, Lcnder or Lenaer:s agent on Lender's written demund to thc ten:int. :;
<br /> ,'.`1' • Borrowcr has not cxecuted any prior assignmcnt of the rents:uid has uot und�vill not pertomi any act that wquld ,
<br /> � � ���°"'' revcnt Lcndcr from cxercisin its n hts under this Para ► h 16.
<br /> r,..r � �' " P s 6 b'T�P
<br /> - �;r:�,�� y.;� Lendcr shall not be rey���rcd to entcr upon, uikc control of ur maintain the Property bo:fore or aftcr giving notice of i
<br /> _ "�:'':�r ' �•f'��, bmach to Borrower. H��wever,Lcnder or a�udiciuUy apQointed recciver may do so at any time there is a breach. Any
<br /> •r . �;;,•„ application of rents shull not cure or w�ive any dcfaalt or mvalidate any other right ar remed�of Lcnder. This assignmcnt
<br /> ` _ k}'��i� of rents of the�'ropeny ehull terminate when the debt secured by the Securiry Instrument is paid in fu11.
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<br />= i. rp��xe.3�J4 pagPS) �
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