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<br /> e amount of ruch a menp. An exces� ads ov�r an
<br /> pnyinents, whis:l�ore rerernd t4�n I�ragroAln 2.or chnnge th p Y Y P�
<br /> ammuntrcy�ufrcd to pay nll nutatanding indcbtedness under�he YVote and�hia Security Instcument slmll bc pxid ta eho cnuty
<br /> te�xlly ent�lsd theneta.
<br /> !1. Eled, l.ender�nay colkct fecs and ch�rges Authorized try the Sar�eta�y
<br /> , s. tir�oned�for Accekrxtiat�d Debl. ' .
<br /> (�)DefY�ll. Laxler msy�exccpt�s lisnited by rc�uluiona lssued by the Secretuy in ihe casd of pa�+rnent defaul�s.
<br /> rcqutr�immo�iuepapment ia lU11 of vt eum��ecur+eE t�y thia�ccudry Inetrument ti:
<br /> (i)�lom�e�er def�vlt+hy faiting[o�y in NII any monthly PuYmrnt�+equLrd by this Secutlty instrument prior
<br /> ta or o�thc duo dye of the next manthlY WY��•a' .
<br /> it i)�awcr defaults by f�iling,for a pertod of thirty daye,to perform any other oF�ligations catuined In thl�
<br /> Sac�ul Insu+�ment.
<br /> (bD�W�t(%�t Approvaf. l.endcr sh�ll.if pemtitud by appltcuble luw ond with the prior�ppravtl of tho
<br /> Sacretxry,tequirc immedl�ete payment in fuil of ail tho sums secur�ed by this Secwity Instrument if
<br /> ti)All or{wt of the Propecty.or o benefic[al interrst in a uust ownIng ap or part of the Pmperty,is soid or
<br /> oeheiwl�r transferred(other than by davise or descem)by the Bornower.and
<br /> (ii)71�o Rqxrty is nat accupied by tho piarchaser or granue us hia or her principal�esidence�or thc puirhaser
<br /> or gnntro does so occupy the I'roperty but hls or her ccedit hav not betn npproved in accordance
<br /> with the rcqutrements of the Secretary.
<br /> (e)!Vo i�Viiiva: [f circumster�cxs occur that wuuld permit l.ender to ceyulre immedIuce payment in fiall,but Lender
<br /> do�nat cequiro suchpayments�Lender does not waive �ta r�ghta with�espect to subsequent events.
<br /> (d)Reg�tlatiom of HUp S�crstary. In many ci�cumst�nces r�egulndons issued by the Secretary wW Gm(t Lender's
<br /> righm, in the case of payment de:feults. tatrqujre immediute payment in tull and foreclose if not paid 'I1�is
<br /> 5uurlty lnsm�ment daes not suthorize acceleradon oc foreclosn�e if not permiued by rcgulations of tha Secretnry.
<br /> (e)Mortgage Not Insuatd. Borrower agmea that shmnld thts Security Insuument and the nate secuKd theteby not
<br /> be eligtble for insurance under 1he Nationnl Housing Act within g �nt� �m�
<br /> duu her+eof.Lender may.at ies option and notwithstandia�anything in Ppragmph 9.require immediate pnyment in
<br /> full of all sruns secu�ed by thls Securtry Instrumen� A,written su+tement of aay nuthorized agent of the Secretory
<br /> duted subsequent to t ftom the date hereof,declining to insure this Security
<br /> Insuument and ttte nou s�ur�tfiereaby.sliail be doemed concluslve pn�of of such Lteligibility. NotwIthstendL�g
<br /> the fur+egoing.this opdon may not be exercised by Lender when the unavuilubilIry of inswzuice is solely due to
<br /> Lender�foilure to�+emit n mortgnge insurcmnce premium to the Secretnry.
<br /> 10. Retnstatement. Borrower!►as a�ight to be atnswted if l.ender has required immed�ute payment in fuU beclwse
<br /> of Bormwerk fsiilu�to puy an nmoant due under ttue•Nate ot this Security Instrumen� ThLs right applies cven efter
<br /> fo�sclagure p�dings rue iasrituted. 1b reinstute the Securiry Insuumeat. Borrower shall tensier in n lump aum ap
<br /> ��,�q���Ss gat��r��t tur�at ine��.ulino,ta the eutent they n�e obli�ations of Borrower under thts
<br /> Securtry Instn�men�fomclosnre costa and masannble and customary aaomeys'fe.es and expenses properly associated with
<br /> the foreclosuc�e prooeedIng. Upan reinstatement by Bormwa. this Security Insuument and the obliganons�hnc i�secures
<br /> sltall tsmain W effect ns if Lender had not�q uimd immedlate puyrteent In full. However.L.ender is not requiced to pennit
<br /> �+einstatemem if: (i)Lender has accepted reinsuucment after che commencement of foreclosure proceedjngs within two �F'
<br /> yesus immediate� pieceding the cammencement af u cwrent forecloseue proceeding, (ii)reinstatement wil! preclude
<br /> fonclosure an etent grounds in the fuwne.or(iii)reinswternent wiU udversely nffect the prtority of the lien cr�eated by
<br /> this Seauity Insnumen�
<br /> 11. Boorower Not Rdeased: Forbearana by l.ender Not a Waiver. Extension of the time of payment or
<br /> modiftcation of amortizatIon of the sums secured by this SecuritX Instrument�anted by L,ender to siny successor tn�nterest "*�
<br /> �f 8orrower shall not operate to release tbe liability of the origmsil Bo�rower or Bomc�wer�s successor in intems� Lender ,;;;��,;
<br /> shall not be uired w commence pmce�edings agiunst nnZ successor in interest or refuse to excend time for puyment or ?
<br /> :•,¢,
<br /> othecwise m amortization of the sums secured by this Securiry Insuument by re.�son of any demand made by the ��.�:��.
<br /> original Bo�wer or Bomower�s saccessors in Intecest. Any forbearance by Lender in exercising any right or remedy shnll �
<br /> aot br e waiver of or preclude the exercise of eny rigt►t or memedy. �,�'�,.I'.
<br /> l�. Suooessors and Assigas Bound;Jdot�d Several LiabUtty;Co-Sfp,aers. 'Che coveRnnts and agreements of
<br /> this Security Insuument shall bind end benefit the su�cessorsund ussiLer►s of Lender and Borrower.subject to the provisIons �;;
<br /> of Patagraph 9.b. Bomawer�covenunts nnd ugreements shall be joint and several. Any Bonower wha co-signs this �';��,�
<br /> �•�;; Securlty Insuurmment but dces not execute the Note: (a)Ls co-signing this Security Insuument only to mortgage.grant und " •�:�
<br /> ,�:;, 'convey that Borrowerls iaterest in the Property under the tenns of this Security inswmen�(b)is not personully obfigated to
<br /> • '£ pay the sums secured by this Security Instrumens:and(c)agrees that Lertder and an�other Borm��er may a�ee to eatend. :
<br /> �`' ' modify,forbear or make any accommodations with t+e�ard to the terms of this Secnnty Instrument or the Note without that
<br /> Botrower's consen�
<br /> :,�,. 13. NotEaea. Any nouce to Boirower provide� for in this Secudry Inswment shatl6e gtven by deliverira�it ar by
<br /> mailing It by first cless mail unless appltcubte lnw requires use of another method. 'll�e notice shall be directed to the „
<br /> ���' Piceperty Addt+ess or any oiher address Botmwer designates by notice to Leader. Any rtotice to Lender shnU be given by
<br /> � ' tirst class mail w Lender�addccss stated herein or any uddcess Lender designates by notice:to Bomower. My notice •
<br /> ^zv�'' pro vided for im this Security Inswment shall be deemed tA have been given to Botrower or t_ender when given tt�provided
<br /> !n this para�aph. '
<br /> ��,`�'. z 14. Governing Law;Severability. 'I'his Security Insnument shall be govemed by Federnl law and the law of the
<br /> 1,`�:P.�"""". jurisdlcdon in which the Property is located. In the event thut nny provision or clause of this Security Inst�ument or the
<br /> -,c �� A., Note conflicts whhapplicable law.such confUct shaU noi affect other provisians of this Security Inswment or the PVote
<br /> ;�� .,�^ t;�;� which pn be given effect wlthout the conflicting provision.To thia end the provisions of this Securiry Instniment ared the
<br /> . r'�.i"'.'.>'r,^,�<, Note ure declared to be severable.
<br /> ,V r�,�,*�'�"+,�:� 15. BomoWer's Copy. Bomower shall be given one canfomted copy of this Secw�ity Insttument
<br /> 1Q A�ment o!Re�ts. Borrower uarnndiNonnlly assigns pnd aansfers to Lender alt the rents artd neve�ues of the ,.
<br /> Property. Borrower authorizes I.ender or Lender�s agents to collect the rents:ind revenaes ar�d hereby directs each tenant of
<br /> ;, ,, . � the Property to pay the rents to I.ender or I.ender�s ugents. However,prior to Lender§notice to Bonower of Bomower�
<br /> ' .��y�.;:'.�:, breach of ary covenant or agceement in the Security insaument,Borrower shall collect and receive alt renu and revemies of
<br /> ..�� •.�r the Property as trustee for the benefit of Lender and Borrower. 'it�is assignment of mnts consndttes an absotute assignment
<br /> = �, : and reot an assignment for udditional security only.
<br /> rc r - �e• .�n�...�.. i�l dt ..�.�o.�e..n:ucA i�v Annw��usv chnll !w IvaLl hv Rn�r�n�vn�nu tn�ctsw
<br /> n
<br /> u a.a:atuca g�iw nw�w.v�vavara••v w�.v..v.. ���... • �--'_••--— __•----—� --'—-•——----�
<br /> `'•=-"'��- for benefit of i.ender only,to be ap Ited to the sums secured by the Security Instnunenr, (b)Lender shall be enuded to
<br /> ,...�,r.. . p
<br /> "'���'�"�''`'`'��- collect nnd receive ull of the renis of the Pmoperty:and(c)each tenant of the Roperty shall pay ali renu due and unpaid to ,
<br /> �W.�,,.�_.fi..�.. Lender or Lender§agent on Lender�s written demand w the tenanG
<br /> ;.:�,_�. .�.-
<br /> '�: 'w•. Bomower has not executed uny prtor rassigament of tfie rents and hos not and will not perfonn any act tht+t would
<br /> prevent Lender from exercisin�its rights under this Paragruph 16.
<br /> Lertdet shstil not be�u3red to enter upon,talce rnntrol of or mnintuin the Property before or ufter giving notice of '
<br /> • � •�°�;- brench to Bomower. However.Lender or u judlclally nppoini,ed receiver may do so at any time there ts a b�rh. Any
<br /> ,�.ti � applicution of[enta shuil not sure or witive any defnult or invalidate any oiher nght or remed�of I.ender. 71us assignme�t
<br /> ��;_��-�r'; of rents of the Roperty shall tem�innte when the debt secured by the Securiry Instrument is paid in full.
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