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<br /> - payments,whicb era nfcrred to in Pnragra�h 2.or ch��gc thc amount of such paymentn. Any excess proc�ecds ovsr an
<br /> amountrcquirod to pay aU autet�nding indebtedness under ttse Noto and thfa Se�urity Instrumcnt shsll be paid to tho eAiity . '
<br /> lcguliy entitled thento.
<br /> & Fee�. l.endor may collect fecs artd chuge9 authorized by the Sacretary.
<br /> � 9. Graueda for Accekrat{on of DeM.
<br /> -�--_—_______ _ (�)I�etr+�1l3. I.�nder mny.axcept ns limited by rcgalnNons iasued by tho Secntary in the saso of payment defaults,
<br /> requixo immediatepayment in ftill of vl suma sec�+red by this Sccudty Instnirt�ent if: r
<br /> (i?Borrower defautts by failing w pay.in futl any monthly psyment required by tbis Secudty Instrument prior
<br /> _ to or on the due dYU�f the next montRly payment.ar
<br /> (fi)Borrawer detaulta by failtng,for u period of thirty days,to perfurtn uay other o6l�gutions wnwined in thia
<br />_.y°.— -- Secudty lnsuumen�
<br /> +� tb)Sale`Vtthout Credit Approvif. IxndershuU.if permitted by appf�cahle law und wltD�t6te prlor approyal of tho
<br /> � Secretary.cequl�+e immediate payment in fi�tl of uU the sums sesured by this�ecuriry Instniment if:
<br /> —� (t)A1l or part of the Property�or n beneficial intenst in a aust owning aU ot pan of the Property.is sotd ar --
<br /> -- - othcnvise trru�afemed(othEr than by devise or d$scent)by the Borrower,and
<br />=- (ii)The Praperty is not occupied by the purcdaser or grnntee as his or her principai residence.or tho p�urchaser
<br />"` or gret►tee dces so occupy the Propet�yr but hIe or her credIt hus not been uppmv e d In acco r d u nce
<br /> % wlth tha requic�ements of the Secretary.
<br /> -�`� (e)No Waiver. If circumstances accur that woWd petmit L.end�r to requlre immedIate payment in full.but l.ender
<br /> does not ra�uira sicchpaqments.I.ender dcea not wtsive Its rights wIth�spect to subser{uent events.
<br /> (d)Re�[ttintions of HUD 3teretary. In muny cl�umstances ragulattons issued by tho Secretary vviU Umit Lertdarh
<br /> ' dghts,in tho case of pnyment defuults.torequIre immedtate payment in full and foieclose if n�t paid This -
<br /> Securlty Insavment does not authorize aoceleration ot foreclosure If not permiued by regulatlona of the Secretary.
<br /> (e)Martgage Not Insure�. Barmwer Agrces thut should this Security Insuument and the note secwed thereby not
<br /> ' be eligible far inaurance under tS►e Nat�onai Housing Act wlthin 90 DAYS from the _
<br />�� date hereof.Lender may.at its option and notwithstandin�anything In Paragraph 9.require immediata pnyment in
<br /> full of ell sums secund by this Securiry Instrumen� A wrltten statement of any authorized agent of ths��cretary
<br /> dated subse�uent to 9Q DAYS from the date hereof,declining to insure this Securlty
<br /> Instrument and the note secured theneby.ahull be deemed conclusive proof of such ineliglbiUry. Notwithstanding
<br /> the foregoing,thls option may not be exercised by[.ender when the unavuitabIl3ty af insurance Is solely due w _
<br /> , I.ender�s fail�ue w remit a mortgage insurance p�emium to the Secretary.
<br /> 10. Reinstotemen� Bomnwer has a right to be�+einstated if Lender has required Immediate payment in full because
<br /> :: - . - . nf�omnwNr�s f�il�t��y an amoum due under the•Note or thts Securitv lnsdumen� 77�is right applles even after
<br /> - foreciosure proceedings tue lnst�tuted. 'Ib reinstute the Security Insaumen�Bormwer shal! tender in a lump sum aU '
<br /> "r�, amounts required to-bring Borrower�s account cument includIng,to the extent thcy are obligadons of Borrower ander this
<br /> , 1'r,�.�� r Sr,curity Instiumen�foreclosure costs and reasonable and cuswmary attomeys'fees and expenses properly nsscelated with
<br /> :�•'��, the foreclosure prooeeding. Upon reinstacement by Bomower.ihis SecuritX Insuument nnd the obligadons that it secures
<br /> +. f . s l�a l l r e m a i n i n e ff e c t a s i f L e n d e r h a d n o trequlced immediute pa y ment in tull. However,Lender is not requized eopermlt
<br /> ,�� �l,;,' reinstatement if: (i)Lender has accepted reinstatement after the commencement of foreclosure proceedings with{n two
<br /> - years immediat�ly preceding the commencement of a curnent foreclosura prooeedins, (li) reinstatement will preclude
<br /> • foteclosuie on diffemnt grounds L►the fut�re,or(iii)reinstatement will adversely affect the prlority of the lien crested by
<br /> ���. �' ' chis 3ecurlty Tnstrument.
<br /> � • • ' ''"" •' 11. Borrower Not lteleased; Forbearance bv Leader Not a Waiver. Bxtenston of tha dme of puyment or =
<br />_ �:��;; � modification of amonizadon of the sums secured by ttus Securit�Instrument�rat►ted by I.ender to any successor u�interest -�
<br /> of Sorrower shall not operate to release the tiabiliry of the orig�nal Borrower or Borrower's successor m interesa Lender �=
<br /> 4 �'-�%=•. shall not bereq uired to commence proceedings age�nst any successor in interest or rePose to extend time for payment or -
<br /> �i,``• M ''''� otherwise modlfy amortiwtion of the sums secured by this Securiry In�trument by reason of any demand made by the _.
<br />_, ���..�a;,k�,. odginal Borrower or Bonower's successors in interest. My forbeamnce by Lender in exercising any right or remedy shall �•-
<br /> � ° ;�;,.�,�_ not be a waiver of or preclude the exeocise of eny right or remedy. �=�r
<br /> 1�. Saocessors end Assigas Bound;Jatnt and Severa!Liability;CwSigners. 'Ihe covenants and agreements of ��- _
<br /> r �, �� this Security Instrument shaU birtd and benefit the successors aad assigns of Lender and Borrower.subject ta the pinvisioas �.,_
<br /> - ,.;:1 �:�`:r�`!'.����t' of Pr�ragraph 9.b. Borrower�covenants and agrcements shall be joint and several. Any Borrower who casigns this - __
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<br /> � �� J� �,`�?'���' "� .��r Securi Instrument but does not execute the Note: (a)is casigning this Security Insuument only ca man age.grnn t end �1
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<br /> ' convey that Bus�owerk incerest�n the i�roperty under the terms of this Security InstrumenG(b)is not person�ly obli�to �-��'
<br /> ��'�'��c ' ' pay the sums secured by this Security Instrument;und(c)agrees thut Lcnder and nn�other Borrower may agree to extend. -'''"
<br />_ n- � ' � modify.forbear or make any accommodations with regard to the tertn�of this Secunty Insvument or the Note wid�out that
<br /> '�� ~�' • • Bomower�s cansen�
<br />�''' 13. Nottces. Any nouce to 8orrower provided for in this Securiry Insttument shall be givsn by del�veting it or by
<br /> . ` n '' mailing it by first closs muil unless appliccible lnw requlres use uf unother enethod. 'The notice shail be dit+ected to the
<br /> ' '" Property Address or uny other address Borrower designntes by notice to Lender. Any notice ta 4xnder shall be given by
<br /> first class mail to Lertder's address stated herein or any address Lender designates by notice to Borrower. My notice
<br /> .. ,.,�•"��;� pmvided for in this Security Instr�ment shap be deemed to huve been given to Borrower or Lender when given as provided .
<br /> �w: : m this parag�aph.
<br /> _ ' ,��'- = '.+ . 14. Governing Law;Severubllity. This Security Instrument shall be governed by Federul law and the law of the
<br /> - � jurisdIcdon in which the Propeny js located. In the event that any provision or cluuse of this Security Instrument or the „
<br /> ti�,:;- Note conflicts with applioable luw,such conflict shstU not nffect other provisions of this Security Instrument or the Note
<br /> F,��� which can be given effect without the confltcting provision. '[b this end the provisions of this Security Instrument und the
<br /> � . � . Note nre d�xlared to be severable.
<br /> _ ��:�;��.''�. . 1S. �orrower's Copy. Bonower shnit be given one ronformed copy of this Securlry[nstrument.
<br /> •'";<�';, ib. AssigatQent of Rents. Borrower uncondition�lly assigns atid tr.u�sfcrs to Lcrtder�11 the rents and revenues of the
<br /> � Pmperty. Bomower autho.izes Lender or l.ender�agents to collect the rents and revenues and hereby directs each tenant of
<br /> _ . ;';:�.�� the Property to pay ttte rents to I.ender or Lender's ngents. However,prior to Lender's notice to Borrower of BorcowerS
<br /> " • br�ch of any covennnt or st�r�eement in the 5ecuriry Instcument.Bomo�ver shnll collect and receive ull mnts and revenues of
<br /> .�n�,.e.w oo�.,.�r,�f.,'�Z.,.�.,P�r nf 1 Pnder�nd Rnm�wes. This acci¢nment of rents constitutes an absolute assiAnment �_ _
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<br /> •• end not an assignment for addirionui securtry onfy. `
<br />_ • � If Lender gives nottcc of bmach to Botrower. (a)all rents ieceived by Borrower shall be held by Botrower as trustee � .
<br /> _ '� . for benefit of Leader only.to be upplie�l to the sums sesnc�ed by the Security[nswmenr. (b)Lender sh�ll be entided to I
<br /> ;�:• .��• • „ ��� collect and reoeive all of the rents of the Property;artd(c)euch tenunt of the Property shnll pay ali rents due cu►d unpaid to
<br /> . •• - I.endcr or I.ender§agent on[.ender�s wcittcn demond to the tencu�t. ,
<br /> } r_ ' . Bomower hus not executed any prlor ossignment of the rents and has not and wil l not pe r fonn any act t hat wou l d
<br /> '� . prevent Lender from exerrising[ta dg�ts under this Pnragraph t6.
<br /> � � ... ,. ' •� ' � Lender shall not be requit�ed to enter upon.uilce control of or mnintain the PropeAy before or nfter giving notice of
<br /> �. � breach to Bmrower. However.i.ender o:u judicinlly npPointed receiver muy do so at uny time ther�e is u breiuh. Any
<br /> '; h ,`�'��° .. upplicntion of rents shull not cure or wciive uny defuult or mvnlidute uny other right or crmedy of Lender. 'ft►is ussignment
<br /> y .:. .
<br /> s1 _,, •• • of ren¢s of the Property shall te�minutc when the debt secured by the Security Instrument iti paid in full. i
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