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<br /> puyment�,wl�ich a� referred ro in i'+uagrnF!�2.or changc the amaunt of�uch pnymcnGg. Any cxcess prc,ceeds over un
<br /> wnount re�ulred to pay all outstar►ding indebtedr•ess wtder Ihe Note ctnd thls SecuriYy lnsuuQneni�hall be pnid to tho entity
<br /> legdty enaQed ahe�to.
<br /> 8. Fees. l..ender may rol�CCt fecs and charges ttuthodud by thc Secreta�y.
<br /> !. Gramd�Ca�Aati�ttoo�15�eei�t.
<br /> (�t�pe�iult. Lender mwy.eavept as limited by regulattons iasued by the SccretauY in�case of p�yment dafaulta.
<br /> nqufro inui�iAt�paym:nt in flill of all sums c-surecl by�hiq Srrudty lnstrumentif:
<br /> (i)Borcowerdefaults by f�tltng to pAy tn full any monthly payment r�equired by dds Securlty insuument pdar
<br /> to or on the due date�f the rtext manthly payment,or
<br /> (it)Bormwer defiutts by faiiinR,far a pedod af thirty days,to perfonm uny other obligations contained in thta
<br /> Seaurlty Insdumen�
<br /> (l►)$a!e Wtttsout Credit Approval. Lender shall,if Permitted by upplicable law and with ihe prior appmvul of tho
<br /> gecre �requise imm�iate payment in full of all the sume secured hy this Secur(ty Instcument if:
<br /> tary r �
<br /> (i)All or part of tho Property,or u beneficial[nunst in a ttusi owrtfng all or part of the Property.is sald or
<br /> othecwir�o iransfernd(other than by devise or descent)by the Bartower,and
<br /> ou��tee doe so�o�cu uPi the Pio p�but his ornher credit hos not�bsPn appn�ved�in a corduuco
<br /> ��the reguirements of the Secretary.�
<br /> (e)No Waiver. If circumstunces accur that would pertnit l.ender to require�iate paymertt in full.but Leader
<br /> does aot require suchpayments.Lender does not waive its dghts with respect to subs�uent events.
<br /> (d)Begulatwns ot H[JD Secretary. In many circumswnces regulations issued by the Secrawry wlp llmit Lender's
<br /> rigtsts. in the casa of payment defautts, to rec�uire immedlate payment In fuA urtd forecloso if notp�d This
<br /> Securitp Inst�umeut dces aot autharize acrr2emuon as foreclosure if not pern�ittfd by srgulatlons of the Secretary.
<br /> (e)Mortgage Not Iasured. Bomower agees that should this Securlty Irustrument suid the aote secured thereby not
<br /> be eligible for iasw�nce under the Nadonal Housing Act within 8 mo3�ths from the
<br /> dute hereof.Lender may.at its optlon and notwithstanding af►ything ln Paragrsiph 9.require imme�iate payment in
<br /> full of all sums secwed by thia Secwity Insdumen� A written statement of any authorizal agent of the Secretary
<br /> dated subsequent to 8 IDODthB from the date heteoF.decUr�ing to insure thls Security
<br /> Instmment and the note secured theneby.shall be deemed conclusive proof of such ineUgibility. Notwithstending
<br /> the fo�going,this opdon may not 6e exerrised by Lendcr when the unavailability of insurance is solely due to
<br /> Lender�s failuce to remit a mortgage insurance premium to the Secretary.
<br /> 10. ReinstatemenG Homower has a ri�ht to be neinstated if Lender has requirecII MmedIate payment in fuU because
<br /> of Borrowet� failu�to pay an amount due under the•Note ur this Securiry [nstrumen� This right applies even after
<br /> iorxlosurc En.xxi.-�tings are u�stitutcd. '!h rt�s�tt she Sacuriiy Instt�ns�ni. �trowtr she!! rPn�er in a lump sum all
<br /> amounts re�uired w bring Borrower�s account cument including.to the extent they are abligations of Boirower under thls
<br /> Security Insmunent�forxla�ure costs and reusonuble and cuswmary attomeys'fees and expenses properly essociated with
<br /> the fareclosure proceEding. Upon relnstutement by Borrower this Sec�uity instrument and the obligations that it secures
<br /> shall remain in effect as if L.ender had notrequired imnnediate aayment in full. However.I.ender is not tequired topermit
<br /> c�einstatement if: (i)Lender has accepted reinstatement after the commencement of foceclosure proceedings within two
<br /> ��; years immediately preceding the commencement of a current foreclnsure proceeding, (iI) reinstatement wlll pre�lude -
<br /> +�;• foreclosure on d3fferent grounds ln the futune,or(iii)reinstatement will adversely affect the prlority of the lien created by
<br /> this Securlty Instrumen� ��i�:
<br /> 11. Borrower Not Rele�sed; Forbearance by Lender Nnt a Waiver. Extension of the Grae of payment or �.�
<br /> modification of amo�zedon of the sums secured by this Security lnsuument granted by Lender to any successor in interest
<br /> of Borrower shall not operaie to release the liability of the original Borrower or Bomower's successor in interest. Lender �_.�
<br /> s6all not be rec�uired w commence pmceedings egainst any successor in interest or refuse to extend dme for payment or ?��'
<br /> - otherwise modify t+mo�iwdon of the sums secured by this Securlty Insuument by re�son of any demand made by dte ••'�
<br /> original Borrower or Bomower�s successars in interest. Any forbearnnce by Lender in exercising any right or reneedy shall ';'�'�
<br /> noi be a waiver of or proclude the exercise of eny right or remedy. •�.•��
<br /> t 12. Sqooessors and Assigna Bound;Joint and Several Ltebiltty=Co-Signecs. The covenants and a�e+eemeats of .,�
<br /> this Security Instrnment shall bind and benefit the success9rs and assigns of Lender and Borrower.subject to the provisions
<br /> of Parnguaph 9.b. Borrower�s covenants end ageements shall be jolnt and several. My Borrower who co-stgns this :
<br /> Parng
<br /> �'st��"�`�`.+ti��.�.'�r conve that Boiroewer s�mt rest in theu���xunder the terms of�th�is Secun�Inskul mem b>is noYt t�rsonu�ll�obli�ted to ,.°'�
<br /> �.,:,.�-� y ProPert3' ty . P� Y b'�►
<br /> , ,s;•:.,�r. r,:
<br /> s=�Za;:.� pay the sums secured by this Security Instrument;and(c)ngree.4 that Lender and an�other Borrower may a�ree to extend.
<br /> .�i�;�'::_ rttodify.farbear or make any necommodations with re�tud to the terma of this Secunty Instrument or the Note without that
<br /> .����*:��ti Bomnwer�s consent.
<br /> ., ��t3 -� . 13. Notfces. Any noilce to Boirower provided for in this Security [nstrument shall be�iven by delivering it or by
<br /> �``s�>`::r:�;�; mailing it by first cinss mail untess npplicabie law re�uir�use of another method. 71�e notice shall be directed to the ,
<br /> '�`�` � � Pro Addness or an other address Boirower desi nates b notice to Lender. An notice to Lender shatl be ven b
<br /> ,��;'�,�:`,s pert�' 9 e � Y y &� Y
<br /> �.•_;�;..,�,: first class mail ro Lender's address stated herein or uny address Lender designatcs 6r naice to Boirower. Any notice
<br /> ��;; �+ � p�o vlded for in this Security Insbvrnent shail be deemed to hnve been given to Borroweror Lender when glven as provided
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<br /> �;,,; ::`.�,�.��t,��� inthis ara h.
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<br /> ��;i.;. 14. Goverrting Lew;Severability. 'Itiis Securiry Insuument sh�ll be govemed by Fedsral law and the Inw of the
<br /> •''��`.'t;'•�•;;t urisdlsNon in which the Property is located. In the event that Any provision or clause of this Security Inswment or the
<br /> � ,�,K;�• ,:_,. ,�=.r:�, �ote conflicts wlth nppUcable law.such conflict shall not affect other provisions of tliis Securiry Inst�ument or the Note
<br /> , +� �{��f'� which can be given effect without the conflicti�tg provision. 'Ib this end the provisionsof this Security Instrument and the
<br /> ��r:����t�; Note are declared to be sevemble.
<br /> 15. Borrower's Copy. Bnaower shnll be�iven one confarmed oopy of this Security[nstrumen�
<br /> 16. Assi�ment ot Rents. Borrower uncondiqonally assigns�nd transfers to Lender:�l the rents and revenues of the
<br /> ����.�•:;-,:; :.- Propesy. Bormwer authori�s Lender or Lender�s agents to collect the rents nnd revenues and lieceby directs each tenant of
<br /> �, .�,:°..z�;.�r4:;�.�. the Pcopertyr to pay the rents to Lender or Lertder*�agents. However,prior to L.eader'a nodce to Bomuwer of Borrower�s
<br /> �;.,LL�;.;;�;..•�, breach of ony covenant or gg�ment in the Security Insuument.Borrower shull collect and receive all rents and Tevenues of
<br /> ;�:� ���:;,�<,�'+ � the Properry es trustee for the berefit of Lender and Bonower. 'ltiis assig�ment of rents const�tutes sin ubsolute assi6nment
<br /> :_.�.;�.,. i� Mil ROt tf118SSi8lU�lC11t lot 80uiuonui a�ecuniy oruy.
<br /> ` ���'=�q If I.ender g�ves norice of breach to Borrower. (a)all rents received by Borrower shall be held by Bormwer as wstee
<br /> ;"''`:�''=•`� s.�+'`.:X for t�enefit of Lender onl p Y tY
<br /> -.F�,''Y.-`� ..,; y.to be a plied to the sums serured b the Securi Instrument;(b)L.ender shall be endtled to
<br /> :, .,.:.-�+�' . collect and�ec�ive alt of the reats og the Properiy:nnd(c)each tenant af the Property shall pay all rents due and unpaid to
<br /> ��'R„;���.�,��' l.ender or Lender's agent on[.ender`s written demand to the tenant.
<br /> ''"'"'"'�"• Borrower has not executed any prior ussignment of the c+ents nnd has nnt nnd will not perform any act that woWd
<br /> �M�'FS,�'�: revent Lender irom exe�ising its ri ts under this 16.
<br /> �,,-��, P � ��►
<br /> '� •t.;:,=..�:��..�,,�,, Lender shuli noi be requl�ed to enter upon,talce control of or mnintoin the Property before ar nfter givjng notioe of
<br /> +t,��-"'�.�:��`--; breach to Horrower. However.Lender or a judlciWly ap�otnted receiver may do so at any time there is u breach. Any
<br /> `�'�,.n:.��=''-�;": appltcntion of renu sh�ll not cum or wuive uny default or�nvulidate uny ather n�t►t or remed�of I.eader. This assignment
<br /> .?ti Yr.;;. �;:; � � of rents of the Property shall terminute when the debt secured by the Secnrity Insuument is pud�n fuli.
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