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<br /> 1! W�ryi�tdnt:;,�v��ich�r�r.;ferrc:t ro tis l��i►�.,�c�:}�ii 2, c�r�:tr,:;�;;c titc iueia��nt uf sv.t:h�ayititent��. Any e,cces:��i;iicc..d�, ovc:e t!n
<br /> -- ^'�1��� a�nount rc�uired co p�y all outstcndinr indebtcdness unrlcr thc Noie.ind tiiis�ccunty Instiumcnt:,hali 6�paid tn i6io c�tily �iz�.:
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<br /> ;���� le,r*,ally cntuled tl�cseto. `° �-
<br /> � K. C�ets. Lender m�y collect fees nnd charges nuthuriud by the Sccretnry. L�c'V«•
<br /> 9. Grc►ua►ds for Accekratlun ot Debt. —
<br /> -h•-^"`r:..:::.� (u)�3ti'auli. l.cadcr may,except ns limitecl by«gulatiom,issu�d by 4he Secretnry in tLe cnsc of�ayment ctaf:�ults, _M1;
<br /> �--=
<br /> -=-°� t�equire immeAlate payment in full of all nums secured by t:�is Security Iitst�unicnt if: !,�--_
<br /> ____-_____ (i)Borrower defuult�by i'ailing to pay in full uny monthly paymcnt rcquimd by�his Security Instrument prior �J
<br /> -�----__= to or oit the due dntc af thc nr,xt monthiy payrnent,or --�w-
<br /> ""''""�°""� (ii)Horrowcr defnults by fniling,for�periad of thirty days.to perfurm nny uthcr obligntions contnined in�his �;;;,�'-
<br /> =-�m� Security l�nstnrment. �= .
<br /> �"�� (b)5xlt Withou9 Credit Appro�al. Lender shnQ,if p�nnitted by npplicablc law and with ihe prior cipprovnl af�he
<br /> �� Secretary,requ'sr�immediate payment in fuU of ull the sums tiecured by ihis Security lnstrurnent if: �,�;.�
<br /> (i)All ur pa�i of the P�operty,or a t�.ncfeci�l interest in n trust o�vning all ur pan of the Pro�eny,is Fold or
<br /> -_�_ -�;�� otherwise transfeired(other thnn by devise or descent)by th�8arrowcr,and .'"'``�
<br /> --- (ii)Th�Property is not occupied by the purchnser or gramee as his or her princlpal residcnce,ur the purchaser .����•
<br /> -_-°��` or grantee dces so occupy the Property but hls or her credit hns not been approved in ncconlancc r`_
<br /> ���;�;9��� with the r�cquic�ments of[he Secretary.
<br /> e (e)No Waiver. If circumstances occur that would permit Lender to require immediate payment in full,but Lender �.';K
<br /> ���� � does not requtne suc[�paymenu,Lender docs not waivc its rishts with respcct to subseyuent evenu. �"-'
<br /> ------ (d)RegulaUons ot aIUD Setretary. In many circumstnnces regulations�ssued by die Sesret;uy will limit Lender� �'�.
<br /> _----� rights, in tl�e cnse uf payment default,, to �+cquire imm:d:ate pay�rnent in ful! and foredase if not paid. 'I4�is ���Y_
<br /> _�_=-��=""E Secunty Instiument daes not authorize ucccleration or foreclosure if reot pertnitted by regulations of the Secretary. ��A:_:
<br /> ,:.�,���.-�;�:�- (e)Mortgaga Not Insured. Bonower agrees ihat should this Security Insuument and the note secured themby not �:'
<br /> ��€`==,;i;�; -� bc cligible for insurance under the National Housing Act within 90 DAYS from the
<br /> 7 �,::
<br /> ..;;;�- date hereof,l.ender may,at its opuon and notwithstnnding anything in Paragraph 9.reqaire immediate payment in --
<br />='�'�.:j����:,� full of all sums secum.d b this Securit lnstrument. A written statement of:u�y authorized agent of the Sec�+etnry {_"•
<br /> Y Y �_:c
<br />-__��-� dated subsequent to 9� DAYS from che date hereof,deciining to insure this Security u_;
<br /> _i,�,�_�,� Instrument:uid the note secured thereby,shall be deented conrlusive proof of such ineligibility. Nonvithstanding �+
<br /> +�� the foregoing. this option may not be exercised by Lcnder when the unavailability of insurance is solcly due to
<br /> �-'`�� LeRder's failure to remit a mortgage insurance pmmium to th�Secmtacy. ��'
<br />_;�;;TMT;�;:q r�� 10. Reinstatement. Borrower has a right to be reinstated if Lender has required immediate payment in fi�ll because
<br /> of BotTOwer� failure to pay an umoune due under thc�Note or this Securiry Instrument. This nght applics even after �'°-
<br />-'_- - foreclosure proceedings are insti¢uted. 'lb rcinstnte tne Securiay Inarum�ni. BuR�wc� „��3i ie��3�� �3 � .:snsY �um s:! ��`
<br />-^='°G�,,,.�^ amounts required to bring Borrower's account cuerent includin�, to the extent they are obligatians of Borrower under this �
<br />__�i';:.�- Security Inswment,fareclosure costs and reasonable and customary attomeys'fees and expenses properly assceiated with ,,,,_,;,_
<br /> .{ :..
<br />;��,`;,�,.,v�;s� the foreclosure proceeding. Upon reinstntement by Borrower,this Securiry Instrument and the obl�gations that at secures �
<br />�'-��+*� shall remain in effect as if Lender had not rec�uired immcdiute payment in full. Howcver.Lender is not required to peimit ��,,
<br />--"'�'`"�• � •�� reinstatement if: (i) Lender has aeeepted re►ns¢ncement after the commencement of forectosure pracee�ings within two �'
<br />,:",?���_==
<br />_-=��;•�,�;;3,: years irnmediately pmceding ths commena:ment of a current fomclosure proceeding, (ii) reinstatement will preclude �:'Y`
<br />_"=-�'�'�±�"�?_� foreclosure on different grounds in the future,or(iii)reinstatcment ��•i41 ndvecsely affect the priority of the licn creatcd by
<br />-="`'''�'�`� this Security Insmiment. �' ,
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<br /> -'�.i�-±� 11. Borrowcr Noi �ie9eased; Forbem�ance by Lender Na�t a Waiver. Extenseon of the time of payment or
<br /> - "'�T'-�"�� modification of amortization af the sums secur�d by this 5ecuriry!nstrument grnnted by Lender to any successor m mterest -
<br />---����` of Borrower shall not operate to release the liability of the original Borrower or Borrowcr's successor in interest. Lender �
<br />-- --�-�� shall not be requim,d to commence proceed�ngs against any successor in intercst or refuse to extend time for payment or � •
<br /> ,r����:ae�n� �Y
<br /> .-�=::�;�m� oihenvise snodify amortization of the sums secured by this Security Instrument by reason of any demand made by the
<br /> -=��+.=�=�:� originttl�orrower or Borrower!s successors in interest. Any forbesrance by Lender in exencising any right or remedy shall �
<br /> a�:;;r':::_'�;��: not be a�vnivcr of or precludc the exercise of:+ny right or remedy. "' '
<br />'_:�'x'.-:?�� ' 12. Successors and Assigns Qound;Jo9nt Snd Several Lla6ility;Co•Si�tters. The covenants and agreements of ,e-'
<br />�sr.?�sr�; � tltis Seeurity Instrument shall bind and benefit the successors and assigns of Lender and Borrower,subject to the�r�visions
<br /> __ of Paua�raph 9.b. Bomower� covenants and agreements shall be joirtt and scveral. Any Borrower who co-�iF�s this
<br />�_ ""°"'�"r Security Instrument but does not execute the Note: (a)is co-sisning this Security Insm,ment only ta mortg�ge, grant and
<br /> �r'•�'�"°'_ convey that Borrower's tntemst in the Pmpeny under the terms of thisSecuriey laswment;(b)is not personally obligated to
<br /> .�,� . �� - pay the sums securcd by d�is Security instn►mcnt;and(c)agrccs that Lender:md any other Borro�ver may a�ree¢o extend,
<br /> - . madify.forbe�r or make any a��ommodations with regurd to the terms of this 5ecurity Instrument or the Note without that
<br /> '°'�'->: Borrower�conscnt. ".;,�:
<br /> `= 13. l�lotiCes. Any notice to Borrower provided for in this Securiry Instrumcnt shal! bc givcn by delivering it or by �•.�.
<br /> ,'',t' ' mailing it by first elass mail unless applicable law requires use of another method. 'Ilie notice shall be directed to the � .
<br />_:'h ips� �. � property Address or any other addmss Borrower designates by notice to Lender. Any notice to Lender shaU he given by
<br /> `•�; ! first class mail to Lender's address stated herein or any nddmss 1..ender designate�by notice to Borrower. Any noace
<br />- -`=�; • ' �rovided for in chis Security Inswment shall be dc�c:�cd c�havc t�cen�iven to Borrower or Lender when givcn as provided
<br /> .,. - . �n this parttgnph.
<br /> 14. Governing Lnw;Severability. 1'his Securiry Instrument sh�11 be govemed by Fcderal lu�v and the law of thc
<br /> . � ' ' jurisdiction in which the Property is located. In the event that any provision or clause ef this Security Instrument or the
<br /> .2. � Note conflicts with spplicable la�v,such conflict shall not affect other provisions of this Security Instrument or the Note
<br /> ' : ._ i � which can be given effect without tiie conflicting pro�ision. 'Ib this end the provisions of this Security Instn►ment and thc
<br /> � , Note arc deslared to be sevemble. �;:
<br /> «..::,..� '`:"' 15. Borros�er's Copy. Borrower shall be given one conformedcopy of this Securiry Instrument. �,;.�.:,
<br />��"'`��;:�,u;��� 16. Assigntuent of Rents. Borrower uncond►tiorially assi�ns and transfcrs ro Lender all the rents iind revenues of thc
<br /> ':.�:.",_„,�,.+; Property. Bomower authorizes Lender or Lender�s agents to collect the rents and�venues an d here by directs eac h tenan t o f
<br /> __,� � the Property to pay tiie renu to Lendcr or Lender�s agenis. Ho�vever, prior to Lender's notice to Borrowcr of Borrowcr's
<br /> =� • - b�+e3.cli of any covenant or agmement in Qie 5ecwity Insuument. Dormwer shall collect:uid receive nll rents and revenues of
<br /> - the Proncr4v as wstee for the bencfit of Lendcr and Borrowcr. 'This assignment of rcnts constitutcs an absolutc:usignmcnt
<br />` -_. ` � and noi:u�assignmcnt for addition;il security only.
<br /> If Lender gives notice of breach to[ioirower. (a)all rents mceived by Burro�ver shall be held by Borrower as trustce �
<br /> . " for benefit of Lender only.to bc applicd to�he sums secured by the Security Instrument: (b) Lcndcr shsll bc cntiticd to
<br /> collect and recvtive all of the rents of the Property;m�d(c)encli ten:mt of the Propeny shall pay:ill rents clue:u�d unpaid to
<br /> � � Lender or Lender�a,R,cnt on Lendcr�s written demand to thc tenant. �
<br /> Bomower has not executed any prior assig►►ment of the rent�;md ha�not and will not perForm any act that would �
<br /> prcvent Lender i'i�om cxcrcisin�its rigl�ts undcr this Parabraph 16. �
<br /> Lender shall not be rcqu�md to enter upon,tnke control of or mtintain the Prope�ty befom or after givin�notice of
<br /> breach to Borcower. Ho�vever.Lender or n�udici:illy appointed mceiver may do sa �t any time there is a b�each. Any i
<br /> � upplication of�nts siiall not cu�or waive cny default or mvalielatc;u�y otlicr right or rcmedy of Lcnder. 'Il�is assignment I
<br /> of rents of the Pn�perty shall tem»natc when the debt secured by thc Security Instrument is paid in full. y
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