|
.���•xr R�,tst�..�. Il'i,.•...... £ �.�-rm...kl�;iah�ti'3'.`--,r�..�F�y. . ,
<br /> • >� .•u _
<br /> ..,f. , ,!�:... �i�` - ':a�'�iat� �u. O - _ ...
<br /> . . . : •� �::5 . ...
<br />� : �. . •- ... � , �Fw�ww�.,...... , _ . -
<br /> ...-_.
<br /> . :•. +
<br /> ,
<br /> .. _,_
<br /> . 1� -
<br /> , �� : - . ,_._. _ —
<br /> -•T.�. , . �.. .� __--_ —. '� _' _ . __.
<br /> L
<br /> !''
<br /> �_ . .�;,�JM6. .- _- __ -
<br /> � � 94-�
<br /> �+os�s
<br /> ' � p�yments.vihich nm eefemed ta 1n PnreIImph 2, or change tlie amoant af such paymenta. Any excess proceeds over nn ___.
<br /> _ --� amount�q uined to pay aU ouutnnding indebiedness urtdcr the Note and this Secunty[nsuument ehnp be paid to the entity
<br /> � le$a1ly entided thento.
<br /> -- S. Eeea L.ender may collect feea�ad chnrges authorSzed by the Secneetary.
<br /> 9. (irourtde ter Acalerallon of DebE.
<br /> i (a)Det�utw Lender may.except as limited by reguladons issued by the 3ecretury in thc case of paymcnt dcfaults,
<br /> � — _- t+equire immedicitee payment in fuU of all sama secund by dda Securlry Instrumem if:
<br /> - �--- ---- — ___� (i)Borrowcr defuults by faitIag w pay Ia fuli nny monthly payment reyuir�eci by thiq Security [nstn�ment prior
<br /> to or on tho due date of the next monthly payment,or
<br /> : '�• (li)Borrower defaults by failing,for u period of thirty days.to perfotm any other obligatlons cont�tined in thia
<br /> � Securlty Instnrmen�
<br /> (b)Sale Wit6out Credtt Approval. Lender shall,if permitted by applicable law und with the prlos appmval of the
<br /> . Serretary.reqnire immediate payment in fuU of aU the suma secured by this Security Instrument if:
<br /> �; (j)AU or pact of the Property. or a beneficia!interest in a trust ownIng alI ar part of the P�uperty,is sold or
<br /> ;;;.�� otherwise trensfemed(other than by devl�c or descent)by the Bormwer.ead �_
<br /> �P• (ii)llie Property is not ocsupied by the purchaser or grentee us his or her princfpal naidence,or the purchaser
<br />;,;� or grantee dces so occupy the Pa�operty but his or her credit has not been appmved in uxotdance
<br />_� with the requirements of the Secretary.
<br /> (e)No Waiver. If circumstances occur that would penait Lender to requ�re immedIate payment In full.but Lender
<br /> '� 5:� : '•- does not requlne such payiaente.I.ender dces not waive its rights with respect to subsequent events.
<br /> (d)Reguladous ot HUD Secretary. In meny circumstances regutndons issued by the Secretsuy wjll limit Lender�s
<br /> , rights. 3n the case of payment defaults. wrequire immediate puyment i�full and fo�close lf not paId. 7'hIs
<br /> S�;f Security Iassnunent does not authorize accelemtion or f�reclnsure if not permiued by��ulndons of the Secretary. . ..
<br /> - (e)Mortgage Not Insured. Borrower agrees that should thia Securiry Instrument and the note secured thereby not �--
<br /> r�.f±%�
<br /> , �,,,.�,,•,?••. ,,.?. „ be eligtble for insurance under the Nadonal Housing Act wlthin 8 moAtbB fmm the ___
<br /> � � � dete hcreof.Lender may.at its opdon and notwithstanding anything In Paragraph 9,requira immedlate payment in �,;�f`.
<br /> `.�;��� full of all sums seciared by tkus Security Instrument. A written statement of nny authorized agent of the Secretary --
<br /> ��'i'���``''�"����: dated subsequent to 8 manths from the date hereof,declining to insure this 5erurity - -
<br /> .! �,�'•4?�'�i'. Instrument and tha note secured thereby.shall be deemed concluslve proof of such ineGgibiliry. Notwtthstanding °__
<br /> �;-,,�,;•.�-,;:�:�* �y the foregoing, this oplion may not be exercised by Lender when the unavnilability of Insurance is solely due to �
<br /> ���t •'� � . ` Lender's failure to remit a mortgage insurance premium to the Secretary. ��-►,
<br /> : f:..'�.Li�r�.•r.:r,�
<br /> �-•: •s ,,,. 10. Reinsfatemen� Borrower has a rfght to be reinstated tf Lender has required immediate payment�n fuU because a�:
<br /> . ��"'�':� " " • `' r of Botrower�s failurc to pay an amount due under the•Note or this Securiry Insuument. This nght applies even after ��_
<br /> ��y' � �� '' "�=����'� foreclosure proceedings are instItuted. 'It�reinstate the Security Instrument. Borrower shall tender �n a lump sum all
<br /> i :,. .
<br /> � �r ',,,.� : ° amwnts reywrat tu.bu�ig Bo,i�war s acc'vut�i curreni includi»g,ta ihc cxictti thcy u�e obligat�ons of Borsn�.�er sussler this �="_
<br /> , �,.�`»�r�t •= Security Instrument,foreclosure wsts and reasonable and customary nttomeys'fees and expenses properly essacinted with
<br /> � �ar;'?',";�}�;�r'.�' : :,; the foreclosure pmceeding. Upon retnstatement by Borrower,this Security Instntment und the obligauons that it secu:rs -�
<br /> .:,.;.,���;;,h,�...:::;,, ahall remain in effect as If Lender had not�+eyuined immediatc payment in full. However,Lender is not requined to pe�rnit "t,.� "
<br /> '�,���,�y ;; ,, reinstatement if: (i)Lender has acceptc:d re�nstatement after the commencemant of [omctosure proceedings wtthin two �__,�
<br /> , .,.�:".ri,��..� :i� .•`-,� years imn►edlately preceding the commencement of a current forecl�sure proceeding, (ii) reinatatement w111 preclude --m-
<br /> ';,��.�,�„�";•.,:s.'•'^ fa�closure on different grounds in the future,or tiii)reinstatement will adversely affect the pi�Ioriry of the lien creatcd by ;:,,
<br /> '�'`':` ,':�:' . ...,';° thia Secud Instcumen�
<br />_ l ty
<br /> , "}'� �;rt,,,'";''�'°` 11. 8orrowe� Not Releused; Forbearance b� Lender Not a Waiver. Extension of the time of payment or ���-
<br /> "?'' ��. F �' . ,..
<br /> �,,. ,rk';;�,i. .."��:,� modification of amortizatlon of the sums secure�by this Security Insdument granted by l.ender to eny successor�n enterest w, .
<br /> •�:� +�;;�?��'��`¢. of Borrower shall nat operate w release the Unbiltry of the original Horrower or Barower's successor in intet�est. I.ender '-•�.'�:'
<br /> r.Gr.�!:v tl+�i(:-.�?-ab.
<br />" _�,,, ,;�•,�:,:. . �., shaU not be required to wmmence proceedings against an�successor in interest or refuse to extend time for payment or ti�`
<br /> � ' �•��+;;;�;�'•'�_� �.✓^�� otherwise modify amortizatlon of the smns secured by th�s Securlty Insaument bX reason of any demand made by the .
<br />, a�, .�:,:;�: .,5:�
<br /> Ry�.�.k;.,+:�•. original Borrower or Borrower`s successors in interest. Any forbeurance by Lender m exercising eny right or remedy shall ,.,
<br /> � ;��+�'�•�uti•��•-' not be a waiver of or preclude the exercise of nny right or remedy. ���
<br /> - ^�'�ij';"�'•��,.•r�`. . IZ. Suooessors and Asslgns Bound;Jofnt snd Several Liability;Co-5igners. The covennnts and agrcemenu of '` �7`
<br /> , :��:,
<br />.. �'��!+S'�,ti'�.*�•{.;a�! , this Secudty Instrument shatl bind and benefit the successors and assigns of Lender end Boirower,subject to the provisions 4;;;.
<br /> ;A�•�y ,;..,�.�_..;� of Pantgraph 9.b. Borrower�covenants and a�reements shall be jo�nt und severel. My Borrower who casigns this • .
<br /> , ;. �,•:3',�;; a'.. Security Instrument but does not execut�ttte Note: (a)is co-signing this Securiry lnsuvment only to mortgage,grant and
<br /> = �,. •"� . :.;:'.;'�'` convey that Bomowerk intenest tn the Property under the terms of this 5ecurity]nstrnment;(b)is not personally o6llgated to
<br /> ����t'' :a.3�tk.��. . ;, ._ pay the sums secumd by this Security Instnunen�and(c)agees that Lender and anY other Borrower may agcee to extend.
<br /> ;f; modify.forbenr or muke uny accommodations with regani to the teans of this Sec�enry Instrument or the Note without that
<br /> �` - .. ' Bonowenc�onsent.
<br /> _,.y�, _:_r�� .
<br /> �'� `�µ 13. Nottces. My notice to Borrower provided for tn d�is Secudty Instnunent shall be�iven by delivering it or by
<br />� +:. - mailing it by fust class mail unless applicuble law �+equires use of another method. 'The notice shell be directed to the
<br />• '"�" " Propecty Address or any other uddress Bonower designates by notice to Lender. My nottce to Lender shali be��ven by
<br /> , ,;�} ,-•. •
<br /> � .�'.�� �� : . first class mail to L.ender�s address stated herein or any addre�s l.ender designates by notice to Borrower. My notice ,
<br /> �'""�` �.�:�`�" . �mvided for in this Security Insaument shull be deemed to have been given to Botrower or Len der w hen biven as pmv t d e d ,�:.;
<br /> _ _ ''�-'�•` �n this parugraph.
<br /> ' ' � � � 14. Governing Gaw; Severabtlity. 'fhis Sccuriry Instrument shnll be �overned by Federal law und the Inw of the �"`
<br /> ;� , . . .�r.,, . ,
<br /> '� . � jurisdiction in which the Property is located. In the event that any provision or�lause of this Security[nsaument or the
<br /> ' '��::' . Note conflicts with ap licuble Inw,such conflict shall not uffect other pmvisions of chts Securiry[astrument or the Note
<br /> �;:.�.�� � „ which can be given e�ect without the conflicdng provision. To this end the provisions of this Securiry Inswment and the
<br /> �.._•,,,. • Note;ire declnred to be severable. •••
<br /> ..:,-•.
<br /> ��•�"="• ' 1S. Borrower's Copy. Borrower shnll be given one conformed copy of this 5ecuriry lnstrument. ,�t., :
<br /> "jf°,{,:'•.•�:;=: 16. Aestgnment of Rents. Borr�wer anconditlonnity assigns end vansfers to Lender nil the cents and revenues of the
<br /> • �n�� �' Property. Ho:rower authodzes Lender or Lender's ugents to collect che renu und revenues+�nd hereby directa each tenent of
<br /> `'�'° ' � the Aropetty to pay the rents to Lertder or Lender�s ugents. However.prior to Lender�s notice to Bomower of Borrower's
<br /> . bneach of eny covenant or ogrcement in the Security Insuument.Borrower shall col tect and receive nl l rents and revenues of
<br /> - �-,� ' " ° ' ' the Property as trustee for the benefit of T endcr and Bomower. This ussignment of rents constitutes an ubsolute nssi�nment
<br /> and not an assi�nment for uddltionul security only. �
<br /> ., ,. . . --- - •
<br /> -°: ,:. . • . tt t..enner�ves nonee oi orearn co amrmver. iaj sii renrs received'oy nor�ower snaii oa n�id'oy norrower a�iruaice --
<br /> ' . for benefit of Lender onl�r,to be upplied to the sums secured by the Securiry Inswment;(b) Lender shall be entitled to
<br /> _ -� °��� . eollect and receive ull of the renta of the PropeKy;and(c)each tenant of the Propeny shnil pay all rents due und unpaid to
<br />- ';;;��� � • . L.ender or C.ender�s agent on Lenderis written demand to the tenant.
<br /> �� Borrower hns not executed any prior assi ment of the c+ents and has not and will not perForm any act that would
<br /> ;:�,.; � �: �=
<br /> , ;:`, : prevent Lender from exercising its nghts under is ParagrapM 16.
<br /> i ' ' - . Lender shall not be requimd to enter upon.wke control of or muintain thc Property before or aftcr giving notice of
<br /> �;;" Lertder or a judicinlly np inted cecefver muy do so at any time there is a breach. Any
<br /> I . ;'...'�, .' breach to Boirower. However. po
<br /> ' ' • r appltcution of mnts shWl not cure or wuive�ny defnult or invalidate uny other nght or remedy ot Lender. 'Ii�is ossignment i ,
<br /> �� ` of rentv of the Propeity shall termieatc when thc drbt sccurcd by the Sccuriry instrurnent is pued in fufl. �
<br /> 1 �� . _ _�� I
<br /> , . ' .
<br />- - �a;tir�' ,, =4.4•
<br /> ��.
<br /> . ._.",�..\�.✓ ..4��� 1j10Rl.�ffQ/W$fJi
<br /> . .
<br /> �t�_._.____'�' _ . _ ._ _ _ . .. .
<br />
|