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<br /> : � ' referred ta in t'ara,m �i 2,m•cheange Aie amount af sie�:l�payments. Aoy �xcr.s�3 pi���cce�l�a��ve;•etia �
<br />_.,,. . , payments,��iitch arc f p
<br /> -��'_��_,;,-.;:• ..,:;>'�� , amount requircd ta pny nll outstandin�indebtc�ncss under the IVote cind tliis�ecurity Instrument shnll t�:,paid to tite cru ty
<br />_,'��;,;_.Y„Y��� 1c6U11y entitled thereta.
<br /> - ------== 8, Fees. Lender may collect fees and charges uutliorized by the Secreiary.
<br /> �--�z���"°'���'-�!;"� 9. f;ronnds for Acceieratton o!1?�6t. -----
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<br /> P�„_,�,.�.�_;�,,� (a)dZ'�fn�lt. d.ender may,except ns lirnited by regulnUons issued by the Secretary in tlie c�e of payment defau ts. ,_
<br /> - _= requixe immedlnt�payment in full of ull sums secured by this Securiry Instrumcnt iE
<br /> � ,';tiT,�,,,-r{��—i- (i)Bor[ower defaults by failing to pay in ftill any monthly payment required by this Securiry Ir►stcument priar
<br /> - �r • �� to or on the due dnte of the next monthly payment,or
<br /> '__t:i~2;t`.rc�..��
<br /> _-- YyO.��t�„: "�; (ii)Borrower defnults by fniling,for u pcnod of thirty days.to Rerform wiy other obllgations con4ained in this
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<br /> _ �r:_ ... , �-;;�y,�::.j�,;. Security Instroment.
<br /> �,;:�:.,;�;,.;�,�,�!�_�_, (b)5ale Niithout Credit Appeoval. Lender shall,tf permitted by npplicable lnw und with thc prior epproval af the
<br /> ' t �•�+� Secretnry,require immediate puyment in full of all the sums secured by this Securiry Instrument if:
<br /> ;�••` � ;����w��° (i)All or part cf the Proporty,or a beneficial interest in a trust owning all ar part of the Propeny,is sold or ,-
<br /> � �r""°'�'{ "'-';'��'r otherwise uansferced�(o'thox�arE by�j�vise or descent)by the Borrower.and
<br /> , `•'f" (ii)The Property is n�t aeet�p�by dts ptachaser or grantee es his or her principal residence,or the pwchaser —_.
<br /> � ••. Y� • • or grnntee does so cecupy the Pc�perty but his or her credit hus not been approved in accordance
<br /> - '. '• `� �`i'.'�,� '• with the requirements of the Secretary.
<br /> _�.,.,.. .
<br /> �};�;..;.,;, :,. ;;��;' (e)No Wuiver. If circumstances occur that would petmit Lender to require immediate puyment in full,Lut Len er
<br /> - r;�°�_•�° �,{�.;�+': dces not require such paymentfi.Lender does not waive its rights with respect to subseyuent evenu.
<br /> - (d)RegulAttons of HUA Secretary. In many circumstances re�ulations issued by the Secretary v�ill limit Lender's
<br /> -`' �s�. � 1�:i',��� rights,in the case of payment defaules, to require immediute pay�imnt in fui! and foceclose tf not paid• This 1�':: .
<br /> ' ! • Security Instrument does not uuehorize acceleration or foreclosure�f not perniitted by regulations of the Secn:tury. ��,..�=
<br /> �;.,_ •..' . . ,..,�, ffi{�,-
<br /> ���`''�; (e)It�tortgage Not Insured. Bonower agrees that should this Secudty Instrument and the note secured thereby not _�___
<br /> �'�,,�•� be eligible for insurance under the National Housing Act within 90 DNYS from the �,�._�.
<br /> ,, ;� �,
<br /> '.' dste hereof,l.ender may,nt its option and notwlthstanding anything in Paragraph 9,require immediate payment in
<br /> ` r �. � � full of all sums secured by this Security Insvument, A written.statement of uny nuthoriud agent of the Secretary ,
<br /> ;���,.::,�,�'' - ,,,�, fro m[h e d n t e h e r e o f,d e c l i n i n g t o i n s u r e:t h ls Secur3t y _,-
<br /> ;!;�.+, ,� ..,,, dated subseyuent to 90 DAYS �__..
<br /> '�� � Instrument and the note secured thereby,shall be deemed conclusive proof of such ineligibility. Notwithatending
<br /> the foregoing,this optiom m�y not be exercised by Lender when the unavailnUility of inswYU►ce is solely due to �,�c.r=••
<br /> Lenders failure to remit a mortgage insurance premium to the Secretary. 1':�---
<br /> 10. Reinstatement. Bonawcr has a right to be reinstated if Lender has required immedistc payment in full beeause
<br /> ' af Earr�•a�r;fsi!us�e t^ pa; �^. ?mmmt due under the•Note or this Securiry Instrument. This n�ht applies even after _
<br /> " •� foreclosurc pra:cedings ase mstrtuted. To reinstate the Security Instcument,tsorrower snuii cendcr iu a iu���� �urz ^tf
<br /> amounts reyuired to hrin�Borrower's account current including,ro the extent they nre abligations of Borrower under this
<br /> Security Instrumcnt,foreclosure cos�s and reasonuble and customary attomeys'fees and expenses properly associated with
<br /> ° the foreclosure procccding. Upon rcinsrotement by Borro�ver. this Sccuiiry Instrumcnt and the oblignuons that it secures
<br /> � shnU rcmain in cffcct us it'Lcndcr had not rcyuircd immediate payment in t'ull. Howcver,Lcnder is not rcquired to Pctmit
<br /> � rc:instatcmcnt if: (i) Lcndcr hns iicccptcd re►nstutcmcnt uftcr thc commcnccmcnt of foreclosurc prceccdings �vithm two
<br /> to cc�lo.ure untdiflcrcnt 6 on,nds in hc fuwre ur(iii)rrci�i tutenuntiwill nd c cly�nffc c�thc pri�iry of thctlicnicrented by _
<br />- �hfs Sccurity In�tn�mcnt. P,y �`►�':
<br /> - � U. fiurrowcr Nut Rcicused; Forbeurance bY I.cnc�er Not n �Valver. Extensian uf thc time of � ment or _..._.
<br /> modificmion of nmonizution of the sums sccurcd by this Sccurity➢nxtrumcnt grantcd by Lender to uny succcssor in mtcrest �_
<br /> of Dorrowcr shidl not operute ta rclease the linbiliry of the urigmnl Bortower or Bonower's•succcssor m interest. Lender i
<br /> shali not be required ro c;ommence proceedings ugamst any successor in interest or refuse to extend time for payment or �l
<br /> otherwise modify amortiuition of thc sums secured by this Security lnstrvment by reuson of a�ny demand mudc by the �_u
<br /> • original Borrower or Bonowar's successors in interest. An forbearance b Lender in exercising any right or remedy shull
<br /> • not be n waivcr of or preclude thc cxercise of any right or remedy. Y �`";:
<br /> � " 12. Successors and Assigns Bound;Jolnt and Several Liability; Co•5i�ners. Thc covennnts and ngreemen[s of
<br /> � this Security Instrument shall bind and beneCt the successo�s and assi�ns of Lender and Borrower,subject to the provisions ':��_
<br /> of Paragraph 9.b. Bonower's covenants and agreements shnll be�oint and several. Any Borrower who co-stsns this
<br /> Security Instrument but dces not execute the Note: (u) is co-sifining this Security Instrumenc only to mortgage,grant and ;
<br /> convcy that Bortower'.s intcrest in the Property undcr the terms of this Secu�ity Instrumenr(b)is not personnlly obligated to .t
<br /> , pay the sums secured by this Security[nstnnnent;and(c)agrees that Lender and any other Borrower may agree to extend, �i.��
<br /> modify,forbcar or make any accommodations with regard to the[crm�o(this Secunty Instrument or the Note without that ;.•
<br /> • - Borrower's conscnt.
<br /> 13. Notices. Any notice to Bottower providcd for in this Security Inswmcnt �hall be given by delivering it or by
<br /> ' mailing it by first class muil unless applicable law rcquires use of anolher method. The notice shall be dircr.ted ro the
<br /> " Property Address or any other uddress$orrower designates by notice to LenJer. Any notice to Lender shall be given by
<br /> - ' � first class mail to Lender's ad�ress titateci herein or any address l.ender designates by notice to Borrower. Any notice
<br /> - , provided for in this Security Instrument shall be deemcd to have becn given[a Borrowcr or Lender w{ien given as provided
<br /> in this paragruph.
<br /> � 14. Governing Lasv; Severs►bility. This Sccurity Ins[rumcnt shall be govemed by Fcdcral luw and the li►w of thc
<br /> jurisdiction in which the Property is located. in the event that:uiy provision or clause of this Security Instrument or the
<br /> � Note conflicts with applicable law,such conflict shnll not affect other provisi�ns of this Security Instrument or the Note
<br /> whieh cun be given effect without the conflicting provision. To this end the provisions of this Security instrument und the
<br /> Nate nrc declamd to be severable.
<br /> � 15. Borrower's Copy. Borrower shall be given one confomted copy of this Security Instrument. „
<br /> } 16. AssignRtent of Rents. Borrower unconditionally assigns and truns(ers ro Lender ull the rents nnd n:vcnues of thc
<br /> pinperty. Borrower authorices Lender or Lender's agents to coUcct the rcnts and rcvcnues and henby dirccts euch tenant of
<br /> ? " the Property to pay thc rents to Lendcr or Lender's agents. Howcver,prior ro Lendcrti noticc ro Borrowcr of Borrowcr's
<br /> _�� brenrh of any covenant or a�rcement in thc Sec�rity lustrument.Borco�ver shall collcct and receivc uU rcnts and revcnucs of
<br /> ----=---,.,-_--,__ .. ..____�.__w._._.c.we�.,eF.r..f 1 a„dp�A�d R�,rrnwer. This assienment of rents comtitutcs an absolutc ussi�nmcnt
<br /> - -------`---------_..-_.:-= ttlC rtV�lGil�aa uuoiw.v....v w«........__..-" --- '
<br /> � „ „ , c�nd not an�ss�gnment for udditionul security only.
<br /> If Lender gives notice of brench to Borrower: (a}ull rcnrs received Q�y Borrower xhall be held by Borrower us trustee
<br /> • for Uenc�t of'Lender only, to be upplied to thc sums sccuced by thc Sccurity lnstrument; (b)Lcnder shnll be cntitled to
<br /> �. ° collect und receive all of the rcnts of the Property;and(c)each tenant of the F'roperty shall pay all rents due and unpaid to
<br /> - Lender or Lender's agent on Lender'.s written demand to the tennnt.
<br /> Borrower has not exccuted any prior assignment of the►rnts and has not and will not perform any act that would
<br /> - � prevent Lender from exercising its rights under this Plragraph 16. .
<br /> . . Lender shnll not be required to cnter upon,takc control of or maintain the Property beforc or after giving notice of
<br /> • � .� breach to $ortower. However, Lender or a�udiciully apPointecl receiver may do so at uny time there is a bmuch. Any
<br />_ ��` � ': .•'��� application of rents shall not cure or waive any default or mvalidute any other right or remedY of Lender. This nssignment
<br /> ,. „' .�; of rents of the F'roperty sh;ill terminute when the debt securcd by the Security Instrument is patd in fu1L �
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