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<br /> payinentA,whicJ�aro rc:fcrred to in 1'aregraph 2.or change�he nmount of such psymenta. Any oxcess Fmcecds over an
<br /> amountroq uired to pay sll auu�tanding indebtedneas ur�der the Noto and�hts Sccurtty Instrumem ah�ll be pald ta eha enttty
<br /> legdly entiticd thaeto.
<br /> 6. Fea+. Lendcr may collect 4'eea und chuges nuthoriud by thc Secrctery. ..
<br /> 9. (irounds fi►r AoceMer�ttoa af Debt.
<br /> (�)Defiul�. Lender m�y.excogt es limlted by rcgoladona ie.9ued by the Secretauy in the c�ue of p�yma�t defaulte,
<br />- rcyui�v im�iic3l;.tepaymeni in full of nll sums sec��ml hy thie Secudty In9tn�mcnt�i:
<br /> t+)Borrower defaulta by feiling to pay in fu1!any�►onthty�yment rcquiied byr thle Sxuritp In�uument prior
<br /> to or on tho due date of the aext monthly payment,or
<br /> (ij)Borrpwer dstauits by failing.for a pedad of tbisy days.to perfarm uny ather obligaHons cantataed!n this
<br /> Securlty Inatryment.
<br /> (b)3ale Wfthaut C�dlt Approval. Lender shali.lf pem►itted by appllcnblc law and wlth the prtor epproval of the
<br /> gecrctary,require imme�liatc paymeat in fuA of aU the suma secu�red by this Security In9ttument if
<br /> (i)All or ptut of the Property,or a beneHclal interest in a trust owning all or part af the Ropaity,is sold or
<br /> otherwise traasferred(ather then by devise or descant)i±y the Borrower.aurl
<br /> (ii)The Propecty ts not occupied by the pw+c baserhia�her eredIt kasr nrinc�ceside v� � e p�o�c
<br /> or grantee doa9 so occupy the Property PPro
<br /> wlth tho reqnirements of the Secretary.
<br /> (e)No Waiver. If a3roumstances occur that would permit Leader to c+�quine Lntuediate payment in fuU.but Lender
<br /> das notrequi�e suchpayments,I.ender dces not waive its rights with rnspect to subsequent cvente.
<br /> (d)Regulations ot NUD Secretery. In manY clrcumstances r�gulations issueci by the Secretary w1U limft I.ender�
<br /> riGhts, I�the ce..�e of payment defaults, tor�uirc Immediate:payment i»full and foreclose if pot. d This
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<br /> Securlty Inswment does nat authorize acceleradon or fareclosure If nat.pem►itted by mg��3adons of tha tary.
<br /> ! ;;, (e)Mortgage Nai�nanred. Bosower agrees that ahoutd tliis Security dnstrument and the nate secured tltereby not
<br /> • ;-,•;L`� be eli�ible for insu�ance under the iYatlonal Homsing Act wlthin 8 moAtbB fmm tha
<br /> '`''° date hereof,L.ender may.at its option and notwltlnstandin$anytl►ing in ParaBraPh 9. requira lmmedinw payment in
<br /> r,;
<br /> • ��, �' full of ail sums secured by this SecurIry Insuatmnen� A wrltten statement of any outhorized agent of the Secretary
<br /> �;�: dated subsequent to 8 m0Ath8 from the date hereof.declining to insure this Sertulry
<br /> Instrument and the note secumd thereby.shsll be deemed conclusive praof of such lneligibility. Notwlthswnding
<br /> the foregoing.th{s option may not be exercised by Lender when the unavallabtlity of insurnnce is solely due to
<br /> Leaderl,fc�ilure to ren�it a mortgage insurance premium to the Secretary.
<br /> 10. Reinstntemen� Bomnwer has a right to be reinstnted if Len3er has�quired immediate payment in full becausc
<br /> of Bu�ower�s failure to pay an amount due undet the•Note or this Secudry InstrumenG '[his d�ht nppltes even oftcr
<br /> f�rec:tvsure yn�ti�ings ara instituiul. '!lz rcin�tste stse Secarlt;lnstrument. Bc+nower��el1 s€n__r �n e l��m�+ �m �!1
<br /> umount�required to�ring 8onower'�nccount current including,to the extent thsy tue obligatlons of Borrower under this
<br /> �, Securiry Instrument,foreclosure costa nnd reusonuble and customury uttomeyx'fees and ox�xnses properiy ussociuted with
<br /> � � the fosecloaure proceeding. Upon reinstatement by Bo�rower.thin Sesurlty Inswment nnd the obligadons thnt it secures
<br /> shull remain in effect us if Lender had not required irnmediate payment in full. However.Lender!s not requie+ed to it
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<br /> ' reinswtement if: (i)Lender haa accepted reinstatement nfter the commencement�f foreclosure proceedL►gs with two
<br /> �, '•:.•,s"�{�,� �� yesuR immediotcly preceding the commencement of a cument foreclosure praeeding, (ii)reinstntement wili preclude
<br /> fnreclosurc on different grounds tn the future,or(iti) minstatement wlU udversely nffect the prloriry of the tien creut�d by
<br /> �.,,.,t �. ., �, this Securiry Inswment.
<br /> ' �f4�d�"!?!� I1. Borrower Not Released; Fbrbe.arance by I.ender Not e Walver. Ex:ension of the time of payment or
<br /> � a''�'� � modification of amortlzation of the sums secured by this Securlty Insavment grented by Lender to eny successor in interest
<br /> '�t :���'`y';';'�j�� , of Bomower shall not operate to releuse the t{ability of the orl�tnal Boirower or Borrower's successor in interest. Lender
<br /> q • ° � shaq not betequired to commence proceedings agatnst any successor in interest or refuse to extend tlme for payment or
<br /> •?�.��;fi.•, ` otherwise modlfy emortization of the sums secured by this Security Instrument by r+eason of any demaad made by the
<br /> .''.�-'1+.�?• original Brnrower or Bo�rower's successors in interest. Any forbearance by Lender In exercising uny right or rernedy shall
<br /> ��`�"".��=;�-^. not be a waiver of or preclude the exercise of any right or remedy.
<br /> ' w��!�!w�+� 12. Successors and Assigns Bound;Joint and Several Liability;CaSigners. The covenents and agreements of
<br /> �;�;•
<br /> �;�;r•• - '�- ;%r. .> this Serurity Instrument shall bind and beneSt the suecessors and assigns of Lender and Borrower,subject to the pmvisions ,:;�°
<br /> ',,�'1 . •.�,.;: .ry_;;•'
<br /> ;�,#,;t5;�'•;;...::1a:st',:f of Paragraph 4.b. Boaower� covennnts and agrcements shall be jolnt and severnl. Any Borrower who co-signs this
<br /> ;��, �t. Securiry Instrument but dces not execute the Note: (a)is casigning this Security Instrument only to mort�age,g�ant at►d :r;•.
<br /> .�::i�:,'i'.' . :'.'�..,:, convey that Honower's lnterest!n the Property under the teens of this Security Instcument;(b)ia not persunally obligated to :;r
<br /> �' „r,_ pay the sums secured by thls Security Instrument;and(c)ugrees that Lender and un�other Bottower may agree to extend, �_�;
<br /> ''u�'�" �'' modify.forbear or make any nccommodations with regazd ta the terms of this Secunty Instrument or the Note without that ''%.
<br /> M�•' �'� '�� , Borrower's consent.
<br /> , 13. Notices. Aoy notice to Borrower provided for in this Security Instrument shall be given by delivedng it or by ,
<br /> r�.r
<br /> ,,�� .�v. mailins it by first class muil unless Applicable law requjres use of another method. 'fhe notice shall be directed to the
<br /> L��,';,,. �� Property Address or any other address Borrower designates by notice to Lender. Any notice to l.ender shall be given by
<br /> first class mall to Lender's uddress stated herein or any address Lender designntes by nodce co Borrower. Any notice
<br /> �;.,.�. � .- pmvIded for in this Security Inswment shall be deemed to have been given to Borrower or Lender when given as provided
<br /> in this paragraph.
<br /> i- • 14. Governing Law;3everability. This Securiry Instrument shall be�ovemed by Feders+l law and the law of the
<br /> , jurisdicHon in which the Property is locnted. In the event that uny provision or clause of this Security Insaument or the
<br /> Note conflicts with npplicable tuw.such conflict shall not affect other provisions of this Security Insuvment or the 1Vote
<br /> L:" which can be gtven effect without the conflicting provision. Tb this end the provisions of this Security Instrument and the
<br /> ' • � Note are declared to be severable.
<br /> �.. . �� 1S. Borrower's Copy. Borrower shall be given one canFormed copy of this Secudty Instrurnent.
<br /> 16. Asstgnment ot Renta Borrower unconditionnlly acsi�ns and trunsfcrs to Lender all thc rents und revenues of thc
<br /> �`'' ' Prope�ty, gorrower authorius l.ender or Lender�agents to collect the renu und revenues and heteby d{rects each tenant of
<br /> "�� ' the Propecty to pay the rents to Lender or[.ender's agents. However,prior to Lender�notice to Borrower of Borrower�s
<br /> • � breach of any covenant or agreement in the Security Instrument,8orrower shall coilect und receive all rents nnd c�evenues of
<br /> the Property as wstee for the benefit of Lender and Borcower. This ussignment of rents constitutes un nbsolute ussignment
<br /> und aot an as.4;gnn:enc ior uddiuon�i S�Rey���y.
<br /> ° If Lender gives notice of breach to Borrower. (n)ail rents received by Borrower shull be hel�by Borrower as trustee
<br /> � for benefit of Lender only.to be epplied to the sums secured by the Security InstrumenC. (b�Lender shall be entided to
<br /> collect end receive all of the rents of the Property:and(c)each tenant of the Property shall pay uU rents due and unpaid to
<br /> Lender or Lender�a�ent on Lender's written demnnd to the tenunt.
<br /> � Borrower has not executed any pdor nssignment of the reats and has not and wiil not perform any act thut woutd
<br /> � • prevent Lender from exe:+cising its nghts under this Paragraph 16.
<br /> • � Lender shall not be required to enter upon.teke cantroi of or mnintain che Properry beFore or after�iving notice of
<br /> �"''. breach to$orrower. However, Lender or a judicially appointed receiver may do so at any time there is u brr,ttch. Any .
<br /> � ' appiication of rents shall not cure or waive any default or invalidate any other right or remed�af Lender. 'Ihis assignment
<br /> � , of rents of the Property shall terminate when the debt secured by the 5ecurity Inswment is pmd in full.
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