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<br /> �� �� p�yixnnta,which are refeired to in Parqqmph 2,�r change the amount of euch payment�. Any excess proocedd over an
<br /> amount required to pay sll autstanding indebtednosa under the Note and thla Security Inam�ment shaU 6e Rald to the entity .
<br /> legaily entiQed thereio.
<br /> S. Feea. Lender may coltect fas and cturges autharized by the 3ecnuuy.
<br /> — 4. (iraunde Wr AccelerMtton ol'Deb�
<br /> - - ___-� (a)Ellafr,�d� Lcndsr may.except�s Ilmited by repulntions iasued by the Sccreuuy+in the case of paym�nt dcfaults. �
<br /> cequin immediste�syment in fuli of a11 sums secured by this Sesudty Insaument if:
<br /> -- (ij Boirower defaults by failing to pay in fuil any monthly puyment re�uired by this Secwity Inst�ument priar
<br /> - to or on the due date of the next ma�nthly Quymen�or
<br /> tii)Horrower defaults by failing,for a perIod of thlcty dnys,to perform nny ather obligadona contained in this
<br /> .,�;Y Sei:uriry(nsuumen�
<br /> (b)Sale Withmut Credtt Approval. Lender shall.if pelmitted by upplicable law aad wlth the prior upprovul of thn
<br /> _��_ Secnetary�requiro immadiate pbymont in full of ull tha sums secuied by this Security Inawment if:
<br /> (i)l�ll or part of tha Prope�ty. or u beneficlW intenst In n dust owning nll or part of the Propeny.is�sold or _
<br /> --- otherwlse uw�sferred(othes than by devise ar descent)by the Bomawer.ond
<br /> .Y:^' (i3)The Property!s not occupied by the purchaser or�rantee as his or her prinaipal t�sldence,or the purchaser
<br /> �1; or grantee das so accupy tho Property but i�ls or het credit has nat boen appmve� in accordnnae
<br /> with the requit�ementa of the 5eccetary.
<br /> (e)No Wetver. If circumstances oceur that would perrnit Lender to require immedlate payment in full,but Lender
<br /> does not�q uire such payments.Lender dces not waive its dghts with respect to subsequent events.
<br /> _ (d) tEons oi HUD Secretary. In many circumstaaces reguladons issued by the Secretary wUlljmit Lender�s
<br /> dghts,�d the case of payment defaults,tor�quire immedtate payment in full and foieciose if not paid. 7bia
<br /> Security Insuument dces rtot e►uthorize naelerndon or foreclosure if not permItted by tegulations of the Secretary.
<br /> (e)Mortgage Not Insured. Bomower ag�ees that should�this Security In�vmoennS�nd the notc secw�ed thereby not __
<br /> be eUgible for iusurance under th�Nationxl Housing Act wlthir► e m t from th�
<br /> date hereof,Lender may.at its option and notwithstanding anything in PcussBraPh 9•re4�ire i�n���Payment in
<br /> full of a11 sums secured by this SecurIty Instcum�n� A wrltten statcment of eny authorized agent of the Secretary
<br /> dated subsequent to 8 moaths from the date hereof.declinin�to insure this Secuiity
<br /> Insmiment and the note secured thereby,shall be deemed conclusive proof of such inellgibiUty. Notwlthstanding _
<br /> the foregoing,this option may not be exercised by Lender when the unavailsbllity of Insurance is solely due to
<br /> • Lender's feilure to remit a mortgage insucance p�emium to the Secretary. -•-
<br /> 10. Reinstatemen� Botrower has n rlght to bc�+einsG►ted if Lender hes reyuired{mmediate paynneat in full because ==°-•
<br /> ' - '"`_ "'"' af Barres:er"s fsilure to pey asi smiwnt si�e �:nder ttu�•No�e or �hi�Secwitv Inswment. This right appltes even after
<br /> ---
<br /> forectasure proceedIngs are insatuted. '[b roinstate the Security Insuument, Borrower shall tender In u lump sum all
<br /> ' amounta required to firing Borrower�s account curtent including,to the extent tliey ere obligutions of Borrower under this --
<br /> � �ri ` Securlty Inswment,foreclosure costs a��d reesonable and customary attomeys'fees and expenses pmperly associated with _
<br /> �. "``'''��' the foreclosure proceeding. Upon reinstatemeat by Borrower.this Security Instrument and the obligatians tltat it srcu�+es _
<br /> ' ,4 . ��,:',��C��"., shall temain in effect as if Lender 6ad notc�quired immedinte payment in full. However.Lcnder is not reyuired to�ermit _�_
<br /> '. �: u,_�;�,;,.: reins�tement if: (i) Lender hns accepted reinstatement aftor the commencement of foreclosum pmceedingR widun two ��_,y..
<br /> ��=��'�'`'!"• `� , years nnunediately preceding the commencement of u current foreclosuzei proceeding. (ii) mInstatement will preclude _ __
<br /> .{;,.,.,.
<br /> - '4�'•''>,� fot�e,closure on dtfferent grounds in the futute,or(iii)reinstatement will adversely afFect tho priorIty of the lien created by .
<br /> . .r,.K:����.,�.:' this Security Insuument. �
<br /> ` ',+ 11. Borrower Not Released; Forbearance by Lender Not u Wulver. Extension of the ume of payment or �'.-.,.�
<br /> -± ' modificauon of amorti7stion of the suma secw�ed by this Serurit�Instn�ment granted by Lender to any successor in interest =•.
<br /> ; "�����,,'�„• of Borrower shall not operpte to release the liability of the origmal Borrower or Borrower's successor in interest. Lender
<br /> �:.:.. -
<br /> i: shali not be re�uired[o commence proceedin�s a�amst any successor in interest or refuse to extend time for payment or
<br /> ;�� �'i.'�sir, othenvise modify amortlaation of the sums secured by this Security Insuvment by reason af uny demand made by the •
<br /> +�� "'�;..; original Borrower or Botrower§successors in inter�es� Any farbearance by Lender in exercising uny right or remedy shall "'
<br /> '" '�..m} not be a waiver of or proclude the exercise of any right or remedy. .
<br />- , :y,�,,,�i � 12. Su�ors and Assigas Bonnd;Joint end Several Ltability;Co-Signers. The covenanu end ngreemenu of
<br />� • '�Y'° � this Security lnstrument shall bind cind benefit the successors and assigns nf Lender end Borcower,subject to the provisions
<br /> M �`=�;;'-�:a;`' • of Parageph 9.b. Borrower�covenants and agreements shall be joint and seveml. Any Borrower who co-signs this .
<br /> • . r�.•"' .4i� Se�urisy Instrument but does not execute the Note: (a){s co-signing thts Securiry Inswmant only to mortgoge.gran t and
<br /> • .,..,�;�.'.��r,::.,.�c.
<br /> ' �'"�'*. •`"'�" � convey that Borrower`s interest in the Property under the tem�s of this Security(nsuument;(b)is not petsontilly obligated to
<br /> '�"' ���'�' a the sums setured b this Securi Instrument;und(c) a �es thut Lender and nn other Borrower may ag�ee to extend
<br /> �t�.. :.:': P Y Y �Y E Y .
<br /> _y+ ,..�.,:Y.K' ,; modify,fotbearr or mtike any accommodations with regard to the te�tns of this Secunty Insuument or the Note without that
<br /> � z.. . _ Borrodver�a consent.
<br /> `?E.:;�;`;;;�:4 . g3. Nottces. My nodce to Borrower pmvided for in this Security Inswment shall be�iven by del�vering it or by .
<br /> �"' "_;.i•�t.•�.,1+" mailing it by tirst class mail unless applfcable Inw requims use of another method. The notice shall be directed to the
<br /> -';�,':�' Ptoperty Address or any other address Borrower designates by notice to Ixnder. Any notice to Lender shull be given by
<br /> ;�.LY first class mail to Lender's address steted herein or any address Lender designates by notice to Borrower. Any notice
<br /> '�� '.s��,�'.� pmvided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided "
<br /> ,`:.:; �.:r< • in thls paragaph.
<br /> 'r::�'•�;��°:.;.;-•. � Il4. Coverning Luw;Sever�bility. 7his Securiry Instrument shall be governed by Federul law und the law of the
<br /> :..........:... .
<br /> .,.':.t_.C: ;';'' � urisdncKion in which the Property is located. In tho event that any provision or clause of this Securicy Instrument or the
<br /> � �ote conflicts with applicable law,such conflict shull not afffect other provisions of this Secwity Instrnment or the Note
<br /> ;3;�;.;;�:.��•,';. • which can be given effect without the conflicting provision. 'Ib this end the provisions of this Securiry instrument�d the
<br /> - �;;:;:,�,, ;= : Note are declazed to�e severable.
<br /> r 5.:,,L• �
<br /> _ ^,;�+;..,,.-•• 15.Borrower s Copy. Bonower shall be given one confartned copy of this Security InsavmenG
<br /> , °--• • 16. Asslgument of Rente. Bom�wer uncondidonally assigns and transfers to Lender aU the rents and revenues of the
<br /> .r � . H�: p�+�p�rty. Bom�ower authorizes Lertder ar Lender�s agents to collect the rents and revenues and hereby directs each tenant of
<br /> . - - , � • the Propecty to pay the�ents to I.ender or Lender's agents. II-Iowever,ptior to i.ender�s notice to Bomower of Borrower�
<br /> b�e3ch of any covenant or ug�eement in the Securiry Instrument.Botrower shull collect und receive all rents and revenues of I
<br /> -- —�-----_--
<br /> .�_� ._...r C �Er IuwsC����T MAC��OfV�ILf!►f1WPT Thic accionmrnt of mntc canstitutes till SbsOl�te�SSl�tlmertt
<br /> 4 - uic a.vp�.�.j mu..o.........«......�.......... - °------'--- ---- ----o.. . _
<br /> -� � and not nn ussignment for udditlonal securiry only.
<br />_- � � :'.' � If Lender�ives nottce of breuch to Bomower. (a)all renu received by Bornower shail be held by Borrower ac wstee
<br /> ; � '��`r_•�• -� for benefit of Lertder anly.to be uppl[ed to the sums secured by the Security Instrument;(b)Lender shall be entided to
<br /> -�:''�''`: ` °��` collect and receive nll of the rents of the Prnperty;end(c)euch tenant of the Property shail pay uli rents due and unpaid to
<br /> - '�=�-��••°� ` � l.enderor L.ender`s ogent on Lender!s w�itten demttnd to the tenant. •
<br /> '�a�'l"'""`" Bo�rower has not executa!uny pdor assignment of the rents cu►d has not and will not pert'onn any uct thnt woald
<br /> _ ti...... .::.. .:
<br /> " '-�'.°,;��'�•i,{ry. :• prevent I.ertder firom exec�ising its rights under this Parngraph 16.
<br /> 1n. ,"-iF;. ._ . E Lettder shWl not be�equired to enter upan,wke control uf or maintuin the Property before or ufler gtvin�notice of
<br /> ' ,:. .� .,, ._ .;.- . brench to Bomower. However.Lender or u judicicilly appointed receiver muy do so at any time there i�n breach. Any
<br /> � ,t•�+;,�.. • '' npplicatlon vf rents shall not curc or waiv�e wy defuult or invalidnte any other nght or remedy of Lender. This assignment
<br /> '�'""��' �" of�+ents of the Propeny shull terntinnte when the debt secund by the Security lnsaument is pwd in futi.
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<br />- > I poRe 3 of 4 paRea)
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