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<br /> paymenw,which are refemeci to in Paragra h 2,ar chango tha�mowit of such�ayments. Any eacess gracesd� over�n
<br /> �mount�q uired to poy ell outsta�iding f�ss under the Nou u�this SaW�ity Instiument ehtl!be peid to the entlry
<br /> legatly entidod thereto,
<br /> B. Fees. I.ender may coflect fers azxl charges authorized by ti�c Sec�etary.
<br /> !. aroun,dr tor Aacekratbn dl�el�t.
<br />-_ �T____ _, (Y)1l�etiult. Y.ender may.exsepe as lianted by reguladnr,s�ssued by thc Secr�etsry in the cese of paiyma►t defaulte,
<br /> m(uire immediuo pnyaient infuil uf a1i s�uns sectu�l by tttls 5ecu,zdy Inst�mc�it if:
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<br /> (i)Boimwer defwlts bY�ia9iing w pxy in fL11 any monthlY PvYment requined by this SecurUy Lutrumant prIar
<br /> to or on the due duu pf thoaoxt moathly�ayment,or
<br /> (fi��orrow�er dtifai�Ita�by feiling,for a perlod of thirty days.to perform uny other obligatlons containGd in thia
<br /> Seauit�insmvmn�.
<br />:.�:,kr @)SA�a Wltlwut Credit Appmvaf. Lender shaU.ff penniued by applicuble lnw ond with the prtar epprovaf of tha
<br /> =�' Secretery.requi�immedIate payment in ful!of all the suma secu�ed by this Secvrity Inauumtnt if:
<br /> � -- (i)All ar part of the.P►�perty�ar u beneficial inteiest in a aust owaing nll or pnrt of the PrnpeYey,is soid or
<br /> otherwlse tr�nsfcrrod(otixr than by devlse ar desccnt)by the Bomower.and
<br /> (ii)'R�a Property ie not oocu�ied by the punchaser or grantca as his 4r her principal rextdance.ar the purchnser
<br />`�- _ or grnntee doea so occupy the Ftoperty but his or her credlt has not been appmved in ucotd�nca
<br />`�:';� with tho nqutiements ogihe Secneta�y.
<br />- (c)No W�iver. IP sinumstances ocrur that would peisnit Lender tw requiro immediatc paymcnt in full,but I.enckr
<br />_ - daes nd utre suchp�ymenta.i.ender does aot waivc ita dghta with r+eapcct to subacquent ovents.
<br /> — (d)Re�ula�a�NUD SecreGry. In mony circumewnces regWadons issued by tho Secrctary will ltmi►Lender�
<br /> _ dghta. in tho casc of p�ymtnt dcfaults��oreqnirc�mmedlau paya�rnt in fl�ll and forcciose if notp�id, 'tt�Ea .-_
<br />_- SecurFty Insavment doea not authodze accelcmtlon or forecla�ure if aat permittcd by rogulntions of the Sec�+eWry.
<br />- . (e)Mortg,�ge Nat[asured. Bomower agrces tl�at should this Security Instrument and the note aecurod thee�eby nat
<br /> ba eligiblo for insuiance urtder the NutIonul Housing Act wlthin 90 OAYS from the
<br /> date h�ereof,L,ender may.at ip opiion ond notwishstanding anything in Parugraph 9.reqnire immadIate payment in
<br /> PoII of aU sums secwied by t0fa Secudty Instn�men� A written statement of any authorized egent of tha Secn:tnry
<br />- dated subsequent to 90 DAYS from the date hereof.decllnlns ta insut�e this Sxurity
<br /> Instnunent and the note secund tttereby,shaU be deemed conclusive proof of such ineUgibilIry. Notwlthstanding
<br /> thc forcgoing,this opdon may not be exerctsed by I.ender when the unaveilabilIty of insurance is solely due w
<br /> Lenderk failure to remit a mortgaIIe Insu:ance premium to the Secretary.
<br /> 10. Reinstatemen� Honrower has a r�ght ro ba reinstated if L.ender has required immedtate payment in wll because -
<br /> - of Borrower�s failuie w pay an amount due under the•Note or this Security InstrumenG 'I7�s nght appUrs even after �_
<br /> : - - . � •� rorectoss�ne pnoa�dings ane u�sncuced. To rcinstace the Sa:urity L�scrw�iv�it,Su��3wer shait t�itct�r in a tump aun ali -
<br /> amount,g rcyuire�to�bring Borrower8 account cument including,to the extent they eie obligations of Borrower under this
<br /> Secority Instrument,foreclosure costs and ceasonable and customauy attomeys'fees and expenses pmperly assac[ated with
<br /> the fonclosure procee.diag. Upon reinstatement by Borrower.this Security Inst:vment and the obligadons that it secures
<br /> /� shall�emain in effect as lf Lender had not requimd immediate payment in full. However.Ixndcr is not required t�t -
<br /> � reinst�tea►ent if (!) E.eader has acapted reinstatement aftcr the commenoement of fo�closu� pmceedings wi two �-==-
<br /> � , �: yea:s iamri�ediately precedjng the canmencement of a cwrent foreclos�u+e proccedtng. (�) reNstatement wiU preclude �•�
<br /> �� • foieclosuro on different grounds in the future.or(iii)reinstetement will adversely affect thB prlorlty of the lien cceated by �
<br /> this Security Inst:umen�
<br /> 11. $osro�rer Not Released;Forbearaace b Lende� Not a Waiver. Extension of the Wne af payment or _
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<br /> modificatioa of araort�zation of the sums secured by th s Security Instrument granted by L.ender to any successorin intemat �, __
<br /> of Borrower shaU not operate W rieleese the liability af the original Borrower or Borrower�i successor in inte�eat. L.ender ;;•:,.
<br /> �hall nat bereq uired to commence pmce�dings a�ainst any successor in Intemst or refuse to extend time for payment or ��__
<br /> - swment b reason of an demand made b the -
<br /> <<: otherwisa modlPy amortization of the sume secured by this Secudty In y y , Y ___
<br />-�� tormmed shall '�°`°
<br /> original Bomower or Borrowerh successo�s in intereaG Any forbearance by Lender in exercIsing any n�h y E�
<br />-�' . not be a waiverof or preclnde the exercise of eny right or remedy. —
<br />"� ' 12. Sucassors and Assigns Bound;Jo1nt and Several Ltability;�aSi�ners. 'Itie covenants and a�reements of F��-�'
<br /> :,.,;
<br /> thls Security Inanvment shall bind end benefit the successors and assigns of Lender and Borrower.subject to tho provisions �_=
<br /> :' t of Paragiaph 9.b. Bomnwerls covenunts and agreements shall be jolnt and several. Any Borrower who co-signs this 'f__
<br /> � ,y��� �±�,.., Securlty Instrument but does not execute the Note: (a)ts casigning thls Securlty Insuument only to mortgage,�an t and �..��.
<br /> g,,,,w w.�-Y::'•'-�� convey that Borrower's interest in the Property under the tenns of thls Security lnsuument:(b)is not personally obligated to
<br /> . a��y� pay the sums socured by this Securiry Instmment;and(c)agrees that Lender and anY other Borrower mxy agree to extend, �;.,�
<br /> �'�`'."r. � • modify.forbear or make uny uccommodatlons with re�acd to the terms of this Secunty Instrument or the Note without that i��
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<br /> -- - .� +r.:� Borrower�consent
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<br /> �''!�.,�. ; 13. Notices. Any notIce to Barower provided for in this Secudty Instrument shull be given by delivering it or by
<br /> ` mailing it by first class mail unless applicable inw requires use of another rnethod. The notice shnll be directed to the
<br /> . ,�;i �� Property Addresa or any other addres.c Borrower designates by notice to Lender. Any notice to Lender shall be given by
<br /> �_r,,-,�,:�: 8rst class mail to l.ender�s address stated herein or any addmss Lender designates by notice to Borrower. My notice
<br /> '��'+j±}"w�::;;iqrt.:• �' �rovided for in thia Security Instrument shall be deemed to have been given to Bormwer or Lender when given as provIded
<br /> .� :,.. m thia parag�aph.
<br /> '��T�� 'r; � � 14. �overning Luw;Severability. Thls Securiry Insuument shall be govemed by Federal Inw and the Iaw of the , ,
<br /> �`' �"� � �iurisdictIon in whtch the Ptoperty is located. In the event that any provision or clnuse of this Securiry Instn�ment or the
<br /> � �1` � Note eonflicGV with applicab l e luw.such conflict shall not affect other prov isions o f t h is Secu dty Inswment or t he Note
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<br /> ��,,�. ; . which can be given effect without the confl{cdng provision. 1b this end the provisions of this Securiry Insuument and the
<br /> '�'"�." ' , . _, Note are declared to be severablv.
<br /> ��='"�3';�_'•-'�-�: 13. Borrower's Copy. Borrower shall bo given one conformed copy of this Security Insuument.
<br /> '�"'`-'• ''4� • 16. Assignment of Rente. Bomower unconditionally esslgns and tranafers to Lender ull the rents and revenues of the
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<br /> t•" " Propertyr. Borrower author�zes Lender or L.ender�s agents to coliect the renu and revenues und hereby direats each tenant of
<br /> � ° the Property to pay the renta to l.ender or Lender's agents. However,prior to L.enderk notice to Borrower of Borrower�s
<br /> '=t""� �' bm.�ch of nny covencmt or agreement in the Secudty Insuvment,Borrower shull coltect und receive nll rents and revenues of
<br /> � :� the Properry as wstee for the benefit of Lender nnd Borrower. 'Ihis assi�nment of rents constitutes an nbsolute assignment
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<br /> � _ _ �c nnd not an assignment for additionai sacuriry oniy.
<br /> . If Lender gives notice of bresch to 8orrower. (a)alt rents recetved by Borrower shall be held by Botrower as avstee
<br /> � �� �� �•� for benefit of I.ender only.to be applied to the sums secured by the Security instrument; (b)Lender shull be endded to '
<br /> ' ,f,`':..',.. . . .. collect and receive ali of the rents of tho Propetty;and(c)euch tenant of the Property shui!pny all mnts due and unpaid to �
<br /> ��.r�':. � Lender or Lender�s agent on Lender§written demand to the tenant.
<br /> , :;:;.,:,::., .; Bomower hos not executed any prior ass� ent of the cents and hus not and will not pecfom�ciny act that would
<br /> '�'." ':""; ' ' prevent I.enderfrom exe�clain$its rights under is PatagraQh 16.
<br /> '',�' � , Lender shall not be requ�red to enter upon,take control of or maintain the Property t,efor�e or after giving noNce of
<br /> ����� �' breuch to�asrower. However.Lender or a judIci�ily appointed receiver may do so ut any time there is a brcach. Any
<br /> "''�''•' a hcation of renta shall not cure or waive any default or mvalidato any other right or remed of Lender. This assignment
<br /> '.��` . y ., . ofp�+ents of the Property shall terminate when the debt secured by the Secwity Instrument is pazd in full.
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