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<br /> � - �� paymr.nte,v+hich nt�referred to in Parngmph.2,,or�httnge the ca�u�unt af sucM paytnente. Any eRCe�s p c�ceed9 over nn
<br /> amaunt rec►uired to pny nll autstan�ing Inderitcdncss uadcr tlie Note und�hi»Sccurity Instniment Rhnll be pntd ta tho entity
<br /> Icgeily entitled thareta. '
<br /> 8. �ee�. I.ender muy cnllcrt fces m�d chnrgcs u►nharlxed by the Secrca►ry.
<br /> �. (iruundr for Accelerxtion ut tkbt.
<br /> (4)pet�ut� l.endcr muy.except ne+ Ilmltcd by rcgulatianw IseucJ by eha Sccretary in tho crixc uf puynunt defaultH,
<br /> rcquiro immcdiutu�aymcr�t fn full of�nll s►i�t�y sccurcd by thix Sccunty Insnumcnt if:
<br /> (i)�uti�t�uwer �faultr►by Puiling tu pay i��full uny monthiy paymcnt rcqulmd by thf!�SesnNty lnqtrument�ndi,r
<br /> to or an thc duo duta uf tho noxt mumhly pnyment.ot
<br /> (iiy anrrawer defuultx by fuilin�,fnrn pedod af thiny doye,ta perfnrm uny alhcr obligatl�ns rvntalned in thi�
<br /> Securlty Instrumen�
<br /> (b)Sale Without Credit Approv�l. Lender ehoil,if permltted by nppltcnblc!uw and wit�the pdor upproval af the
<br /> � Secretary,require immediutc puyment in NIl of all th¢auma secured by thiK Security Instrument if:
<br /> ,'*M_ ._ (I)All or ptut of the Property, or a beneficlnl interest in u uust owning all or psut of the Pmperty.ia sold nr
<br /> � , ochenvise trnnsfeired(other tba�by davise ar der,cent)by the Borrower,and
<br /> *���t (ii)'Ihe Property is not occup3ed by the pu�chuser or gmntee ua his or her prFncipal cesidence.ar!he purchaser
<br /> �.-,. t..:+,�<•��� or gcantee cioes sa occupy ttte Property but his or her credtt has rtot been upproved in ¢ccondance
<br /> �"`���`'"� ''`g� with the requ{�ements of the Secretary.
<br /> ��pr:'=�.�a�;`'��- , (c)No Waiver. If circumstances occur that would permit Lender to require Immediate payment in full,but Lend�r
<br /> ti ��� dces not requitie such payments.l.ender does not waive its rights with res t to subsequent events.
<br /> �tk'a.,., ' cu.
<br /> a�,•; (d)Regulations oi HUD Secretars. In many cinum�tances regulations ssued by the Scxnetary will limit Ixnder�s
<br /> .a.r.t�s.�r .
<br /> , r,, �,;,?,r=; , rights,in the case of payment deFaults,torequire immediate payment in full und foreclose tf aot paid Th"ss
<br /> �";:;`�`:.;c.,��':�•ti-°�t Secwity Instrument doe.a not authoriu acceleration or foreclosure if not permitted by reguJatlons of the Secretary. .
<br /> -� •;;��,,•;j;.;,`;;.,�. (e)Mortgage Not Iasured. Bomower ag�ees that should this Security Instrument and the note secured thereby not '•
<br /> ,. .:,,�•.;. be ellgible for insurance under the National Housin�Act wtthin 90 DAYS fram the ''"�'
<br /> .• �.-�;;'j�'�.�,q.�� date hareof,Lender may.at its opdon and notwithstandtng wnythin�in Paragaph 9,require immediate payment in .. '
<br /> �'�`�'�s`��:'�-�''� full of all suma secured by this Security insuument A wrItten statement of any authorized agent of the Secretary a;;��
<br /> ,.... . .. .
<br />- ,,, ,,.:�.� �, dated subsequent to 90 pAYS from the date hereof.declinin�to Insur�e this Security
<br /> ,���`��'`" ,. Inshument and the note secured themby,shall be deemed conclusive pn,�f of such inellgibility. NotwithstandIng
<br /> ': ., �• ' the foregoin�,this option muy not be exerclsed by Lender when the unavailability of insurence is solely due to ::�
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<br /> "'� Lender�s failure to remit a mortguge insurance premium to the Secretary.
<br /> �,�<<;,.;�• '' L0. Reinstatemen� Horrower has a right to be relnstated if L.ender has required immediate payment in fuA becausc :j'
<br /> � � of Hormwer�s fallure to pay an amount due under the•Note or this Securiry Instrument. This right applies even after ;a
<br /> fo�cl�sure proceedings are instituted. 1t� rcinstata the Securiry Instrument. Borrower shnll tender in a lump surn all •:
<br /> ,. .., emounta reqwred to bring Bvnower�iuxvuui cw�'eni inciudiag,to thc cxicni ihcy�re obligssions of Bo:rusves usider this ''�
<br /> ,,�^'f�� ��•�,�<r;'- Security Insaument.foreclosum costs nnd reasonsble and customary attomeys'fees nnd expenses pmperIy associated with ,
<br /> ia�;���i: ���;(,�1�;"� . the foreclosure proceedlng. Upon reinstatemern by Bairower,this 5ecurtty Instrument and the obligauons that It sacures (�'_:;
<br /> shaU remain in effect ns if I.ender had not reyuired immediate payment in full. However,L,ender is not required topermit `�;�,,,
<br /> , relnstatement if: (i)Lender has accepted re�nstatement aRer the commencement of foreclosure procecdings within two ;� �
<br /> � yeata immediately preceding the commencement of a cuirent foreclasune proceedtng. (it) min�tstement will preclude
<br /> , foreclosure on d�fferent gmunds in the futura,or(iii)minstatement will adve�sely affect the priority af the lien created by .
<br /> - this Security Instn►ment.
<br /> '" � 11. $orrower Not Releasedt Forbearance by Lender Not a Waiver. Extension of the time of payment or �� •
<br /> `°" � "-" ' • modif cadon of amortizatIon of the swn��ea:ur�d by this Securiry Insnvmcnt gnu�ted by Lender to any successor in�nte�st ..-
<br /> •"`�' '" "'�"'"� of Borrower shall not opemte to release the liability of the original Borrower or Borrower's successor tn interesG Lender •
<br /> ' ' ' " " shatl not berequlced to commence proceedIngs aga�nst any successor in interest or refuse to extend time for payment vr
<br /> � otherwise modtfy umortization of the sums secured by this Security instrument by reason of nny demnrtd made by the
<br /> ��.���. `' • � � original Borroweror Borrower�s successors in intemst. Any forbearunce by[.ender m exercising nny right or remedy shall
<br /> ' =' Y�'� "�` '" not be a wajver of or preclude the exercise of any right or remedy.
<br /> ' � ' ' - 12. Successors and Assi�ns Bound;Joint and Several Liabitity;CaSigaers. 'Che covennnts und agreements of
<br /> •','�' Y"''^ this Security Inswment sh¢Il bind and benefit the successors a�id ussigns of Lender nnd Borrower.subject to the pmvisions �
<br /> ,, . of Paragraph 9.b. Bamower�covenants and age�ements shall be joint und sever�s3. Any Borrower who co-sjgns this
<br /> . Security Insuumatt but dces not execute tttv Nota: (a)is co-signing d�ir:Security Inswment only to mortgAge,grant and
<br /> P', ' , � convey that Borrower's interest tn the Property under the tetms of this Securlty Instrument;(b)is not personally obljgated to
<br /> •,,, - pay the sums secumd by this Security Insuument;and(c)a�rees thut Lender and nn�other Borrower muy a�ree to extend,
<br /> modlfy,forbear or make any accommodacions with re�ard to the terms of this Secunty Inswment or the Note without that „
<br /> '�� � Borrower's consent.
<br /> �` 13. No�CCes. My notice to Borrower provided for in this Securiry Instrument shall be given by deliv�ring it cx by
<br /> "�"t�� mailing it by fuet class mail unless uppGcable law requims use of anather method. The nouce shall be directed ta the
<br /> '� .. Property Address or any other address Borrowa desip►ates by notice to Lender. Any notice to Lender shaU be given by
<br /> ' fust class mnii to Lender's address stated hesein or any nddn�ss Lender desi6nates by notice to Borrower. My notice
<br /> �;-. •� Qrovlded for in this Security Instrument shaU tne deemed to have been given to Borrower or Lender when given as provided
<br /> t, " , in this puragraph.
<br /> 14. Goveaning Lew; Severability. 7t�is Securiry Insuvment sha11 be govemed by Federal law und the law of the
<br /> „ .. jurisdiction in which the Property is located In the event that uny provision or clause of this Securiry Insmiment or ti�e
<br /> ' Note conflicts whhapplicnble Iaw,such confiict shall not nffect other provisions of this Security Inswment or the Note
<br /> , • which can be given effect without the conflicting provision. To this end the provisions of this Securiry Insmiment and the
<br /> � �� Nate are declared to be severable.
<br /> �- ' 1S. Borrower's Copy. Borrower shall be given one confom►ed copy of this Securiry InstnunenG ;
<br /> �": � - 16. Assignment o!Renta Borrowar unoondidonally assigns and uansfats to Lender nll the rents and revenues of che �
<br /> . " Property. Bomower authorizes Lender or Lenda's agents to collect the rents and revenues und hereby directs each tenant of
<br /> ' the Property to pay the renu to Lender or L.ender's a�ents. However,prior to Lender�notice to Borrower of Bocrowerl I
<br /> " breach of any covenunt or ugreement in the Security Insaument.Borrower shsill coltect und receive all rents and revenues of �
<br /> , ., the Hvperty ac austee for the beneftt of Lender and Borrower. This assignment of rents constitutes;+n ubsolute as�ignment i
<br /> � •� �, cind not nn assi�nment for nddidonal security only.
<br /> _���_.n___...
<br /> . q � u i.enner�ves nouce oi oreucn co aorrower. �aj uii rrni�rc�.rivcv'vy uo�rvvrc��i�aii i,c iR.0 oy uv�iv�+ci a.i u`�i.iicc -
<br /> for bene6t of Lender only,to be applted eo the sums secured by the Security Insnument;(b)Lender shall be entided to �
<br /> collect artd mceive cili of the rents of the Pr�operty:und te)e,2ch tenant of the Roperty shatl pay ull rents due and unp:iid to ; "
<br /> " Lender or L.cnder's agent on Lertder�wtitten demund to the tenunt.
<br /> Bnmower has rtot executed nny prior assignment of the rents and has not;uid will not pertocm any uct thut would �
<br /> prevent Lertder from exercising its righu undcr th[s Pnmgrnph I6.
<br /> . Lender shall not be required to�nter upon,wkc control of or m�int;un the Property before or a8er giving notice of
<br /> breach to Ba�rower. However. Lender or n jud�cinlly np�inted receiver may do so at uny time there is a breach. Any
<br /> � npplicution of rents shall not cure or wuive any de6nult or invalidate any other right or remedy of Lertder. 'ihis assignment
<br /> of renrs of the Property�hall tertninate when tlte debt secured by the Security Instrument is pa�d in full.
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