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<br /> - • • e ' i ar�refcr►•cd to in Pax.e ra h 2,or ch���e tp�o nmou�t of sach �nymcnts. lany exccss p�occ�ds ovci•�❑ �.
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<br /> �=n'.:';;��='{�`����.'•;- nmount rquired to pay 111 outstandin�indeStedncss underthe Note and this Secunry Instrument shall be p:ud to the entity
<br /> - _::.'�..�,�,�,�
<br />_-=:;ir+--�^-��rr;�("'� legnlly entitled Ihereto.
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<br /> — �, Fees. I.ertd¢r may collect fces and charges authoii�ed by the Secresu�y.
<br /> ------- 9. Gro�nds?or AccelerutEon ot Uei�f.
<br /> j:�.�A,_.�:_.� ..,,,...,...4.. -
<br />--- - --�_��_,�� (fl)Re�S�i�R�, L�nder mny,cxcet�t ng limited by reguladons issued Gp the 3ecrctnry in the case nf paym�nt de au G�,
<br /> ----W'�"`- requioe imrnadiato payment in fall nf oll sums secured by this Secuaiey Inscrument�f:
<br /> - - — (i)Dorrower defnuits by failins to pay in full nny monthly payment requlred by this Security Instrumertt prior
<br /> ���,��„�� to or�n the due date of thc next monthly pagrment,or
<br />--- --_=-=,;;� (ii)Borrower defaults by failing,far a period of thirty dnys,to perform uny other obli�adans coutaincd in this
<br /> --_""="-;g�=�A'4 Security Instn►ment.
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<br /> � x':w��n,_< iD)Sale V�Ithout Credit Approval. Lender sh:ill,if permitted by upplicable luw and with the prios approval of the
<br /> _�:d .
<br /> ----- Secrewry, require immediute puyment in fall of all the sums secured by this Security Instrument If:
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<br /> =---'��?""_-��; (i)All or part of the Prop�rty,or A be:neficial inicrest in a uust o�wni��g all or pa�t of tho Pro�.rry,is so1J or -
<br />_ _�_- ��.,.�,y„�;,, otherwise tmnsferred(athcr than bydcvise ordescent)by the Borrowcr,and
<br />��":�'�`"-`kIL,'-�-�'��� oir� rant e�do�es�so�occu up�the R�prt�but rliis ornherncredit�hh sr not cbpcenr approved in R c ciance
<br /> - : _,:,b.. . g PY P� Y
<br /> ':;ail::��x"'�",�;��`�"'i with the�quirements of the Seeretnry.
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<br />-�����s-�ss-?�a" (e)No tidritver. If circumstances occur that would permit Lender ta requere immediAte payment in full,but Lender
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<br /> 'GV�avu;�rnu
<br /> -W='-=�:�.=-� dces not require such aymenu.Lender dces not aaive its rights with respect to�u sequcnt even s.
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<br />`��=��L�•�:�:a�- (d)RegulnUons oP H D Secretary. In muny circumstances regulations issuec4 by the Secretary will Ilmit Lender� _
<br />�"°��"�`-`��Y'��°�TSw'+��' rights. in the case of payment defnults, Ya require emmedtate payment in fult und foreclose �f �tat paid. This
<br />��T'"`�`'��Fi';�
<br /> _ __-_r_�,�;, Security Instrument dces not uuthurize acceleration or foreclosuce if not permitted by regulauon9 of the ecretary.
<br /> - ��`� (e)Mo�guge Not Tnsured. Burrower egrees u�at shauld this Securiry Instrument and the note sccum�thereby not __
<br />�'�'�'�•�:�,�.z;�=��•�--� be eligible for insurance under the National Housing Act within 90 DAYS from the
<br /> ���:�°_�'.�.s':
<br /> t-'-��•. ' date hereof,Lender may,ut i4s opuon and notwithstanding anythEng in Para�raph 9,require immedinte paymcnt in
<br /> �' ��Ya.�.,; �» i`
<br /> ��„Y;�*��,v. ;<<� full of all sum..secum,�l by this Security Inswment. A wriuen statem�nt of any authorized ugent of the Secretar}+
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<br />--.�;:.3.r.,, dated subsequent to 90 OAYS fram the date hereof,declining to insure this Security
<br />=`�'�''i'►'�'��`'''"�"'�,"{'� Ic►strumentand the note secureci thereby, sh�ll bedeemed conclusive proof of such ineligibility. Natwithstunding
<br />-. .�a5��;.N;::I�i:4;`;r,u•�' the foregoing, this optiom m�y not be exercised by Lender when the unnvailability of insurance is solely due to
<br /> F.:�+,.r-Y.. - Lender�s failure to remi[a mortgage insurance pmmium to the Secreuuy.
<br />'" `�.�'�'',.• : • ���, �', 10. Re[nstatement. Borrowcr has a right to be reinstatcd if Lender hati reyuired immediate payment in fult bccause
<br /> ' ' • ' aq �����:;sa,�pw,� .�..�„ �n ����r ���P under the•Note or this Security Instrument. This right applies even after
<br /> ��;`Fr�'��""`'�`��'�`"�'�` foreclosure roceedin s are insdtuted. 'Ib reinstnte the Security Instrument, Borrower shall tender in a wmp sum aii
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<br />- ��`�•�:�• � • ;:��ti5: �'' umounts required to bring Borrower�uccount current including, to the extent they are obligurions of Borrower under this
<br /> :;�;;�.' ..'' _' Security Inswment,forcclosure costs and reasonable and customary attomeys'fees and expenses properly assaciated with
<br /> _ �;��,;;: - the foYeclosure proceeding. Upon reinstu4ement by Botrower,this Security lnstrument and the obligations thnt it secures
<br /> shall remain in effect as if l.ender hnd not rec�uired immediate payment in full. However,Lcnder is not reqalred to permit
<br /> :._ .,',.`:. .� � e�einstatement if: (i) Lender has accepted remstatement after the commencement of foreclosure proceedings withm two
<br />- �=��'�''•` �'��'• • years immediAtely preceding the commencement of a current foreclosure procexding, (ii) reinstatement will preclude
<br /> ;'.�i�t�r`J`��••�^�;;•{• �� foreclosure on diHerem grounds in the future,or(iii)reinstatement will ndversely affect the priority of the lien crcated by
<br /> =�,;t <. . . : � this Security Insh-ument. -_
<br /> �•==-r:..�:..,. .. 11. Borro�ver Not Released; �brbeurnnce by Lender Not a Wniver. Extension of the cime of payment or �
<br /> �`�•+ `-��• - modification of amortizauon of the sums secured by this Securiry [nsuument granted by Lender to any successor m interest �t�:.:.
<br /> ;�Y:� � '�'' �� of IIorrower shall not operate to release the tiability of the original Aorrower or Borrower� successar in interest. l.ender e:=-
<br /> '..;.,''':;. " ''"` shall not be re�uired ro commence proceedings agamst any successor in interest or refuse to estend time for payment or t�
<br /> -- .���,�,•r�r�ey�i°�� -
<br /> �=.'Y•ww� �-���• :� otherwise modify nmortization of the sums securcd by U�is Security Instrument by renson of any demand made by tlie _-
<br /> �.�:-•N��••�..�.�•- :' originul Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising:iny right or remedy shall _
<br /> ,r},�«,Y.r..�...�..T � not be a wuiver of or preclude the exercise of any right or remeciy. ,
<br /> 12. Suceessors and Assigns Bound;Jafnt und Severol Llability; Co•Signers. The covenants and ngreements of
<br /> � `�� ` -�+�• �� �, chis Security Instrument shnll bind und benefit the successors and assi�ns of Lender and Borro�ver.subject to the provisions
<br /> �r,-:°� ' ` uf Paragraph 9.b. Borrowers covenants �nd a�reements shall be juint and several. Any Borrower who co-s�gns this
<br /> ' Security Instrument but does not execute the Note: (a)is co-signing this Security instrument only to mortgage,gra►►t and
<br /> �F " convey that Bomo�ver's interest in the Pruperty under theierrns of this Security(nstrument:(b)is not person111y obligated to `�-�'�,.
<br />-'�i��^- pay the sums secured by this Securiry (nstrumenr,and (c)agrees that Lender and any other 8orrower may agree to extend,
<br /> --�y modify.farisear or make any accommodutions with re�ard to the tertns of this Security Instrament or the Note without that
<br /> .• Boaower's consent.
<br /> :.�_'` 13. Nottees. Any notice to Borrower provided for in this Securiry Instrument shall he given by delivering it or by
<br /> --- . muiling it by first class mail unless applicable law requires use of :uiother method. The notice shall be directed to the ,
<br /> —J Proparty Addmss or any other address Borrower desi�nates by notice to Lender. Any notice to Lcnder shall be given by
<br /> .�;.°"� � � first clnss mail to Lender's• address stuted hemin or any address Lender designates by notice to Borrower. Any notice �
<br /> -►4�� ' Qrovided for in t�is Security Instrument shaU bc deemed to have bcen given to Borrower or➢_ender when�iven as provided
<br /> -:..�_ . m this p.v�graph.
<br /> 14. Governing Luw;Severabtl{ty. This 5ecurity Instrumcnt shull be govcrned by Federal law and the luw of thc
<br /> � jurisdiction in which the Pcoperty is located. [n the event that any provision or clause of this Sccuriry Instrument or the
<br /> � Note con8icts with applicuble law,such conflict sh¢ll not affcct other provisions of this Security lnstrument or the Note
<br /> . �' which can be given effect without the contlicting provision. Tb this cnd the provisions of this Security Instrument and the
<br /> , j: .. Note are declared to t,e severable. I
<br /> °�e- 1S. Borrower'�Copy. Borrower shall be given one conformed copy of this Security Instrument.
<br /> =��`��._
<br /> _._-;�� � ' � ' 16. Asslgnmer�t of Rents. Borrower unconditionally assigns and tr•msfcrs to Lendcr all the mnts and revenues o t e
<br /> ::s`� , P►nperty. Borrower authorizes Lender or Lender's•agerns to collect the rents and mvenues and hereby directs each tenant of
<br /> ..� • . the Property ro pay the rents ro Lcnder or Lenders a�ents. Howevcr,prior to Lendcr's notice to Borrower of Borrower's
<br /> bmach of ttny covenant or agreement in the Security Instrument,Bomower shall coltect and receive all rents and revenues of
<br /> --- ----- _�_ .L___�.. __._.�_a._.L_�....a...c i e..d>.o..d Rr.nnaunr Thic accionment of rents constitutes att absolute assiCnment
<br /> -- uto r�oNcn� aa a�uoaa..,w. .,�.,w..........................�....-'---. _... .. _ .
<br /> • � and not an assignment for additiunnl sccurity only. � i
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