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<br /> _ �_ _ �y'.l'YIS]i7(1'd4��we`••"ava��cr � _—
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<br /> __.____ _-- �"" '�'_����"s•a _ .�.�.�._--��.�� , _—__._ . . __..._ . . _.
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<br /> ..�:r,Y:yr'�"_y.�- � . ' . _- . ...,.�.�...+.a�•..=.-
<br /> ���w-� �`��6!/�„�,:�'0!�`{J/ r i . .. �� - •�
<br /> t •._�ct":.r � ..i.K.b}ty1�YldA;r;.._.•u...
<br />'`=Y.�-:.=..,��t�yk, puyments,which ure refcrred to in I'nra�raph 2,ar change the nmount of such paymcnts. Any excens proceeds avcr an „��.-_��_-:.�--•
<br /> - �.,;�;,;;u;, _'_ � amount rcyuired to pay all outstandin�indebtedness und�r thc Note and thie Secur►ty Inst�ument shall bc puid to ti�c e��tfsl� ra��•��-----•--
<br /> =- �f;:x.��.,��-�.___
<br /> .-^tf-P�AF=21�H legnily enntled thereto. Y
<br /> � ,. �,Y� 8. Fees. Lender may collcct fees nnd chnrges nuthc�rized by the Sccretury. T--
<br /> 9. �isrounds for l�sceleraEtaii oi De�f. �""" �����
<br /> —_-�w._.�.z!¢�_x..� _ .,.r_
<br /> _�,�,.��:: (a)DetaW� Lender may,except as limited by resulations issued by the Secrctnry in the cuse of p�yment defnults, —�
<br /> ,,,�y��,:��^<, ._�, _. `�M requ(r�e immediute payment in Sull of ali sums securcd by this 5ecuriry Instrument if: `°"°���
<br />��:,�;''_�y:�.�;!�; (i)Honower defaultg b failin to a in full an montitl a ment re uired b this Securit InsuumenY rior ��-�rY�_
<br /> Y s PY Y YPY 4 Y Y P � •� .--
<br /> �•�"`�� Yn`-�'�r• to or on the due date of the next manthly payment,or
<br /> ��.h
<br /> ' (ii)Harrower defnulu by failin�,for a period of thirty days,to perForm any other obligations contalned ln this . � _ __
<br /> •,� . : Security Insuument. r s` "" - _
<br /> - � (i�)5xrle Without Credtt Approval. Lender shall,if permitted by ap�licable law and with the prior upproval of thc ��` � ----_
<br /> '� �t:��r�•: Secretary,require immediate payment in full of all the sums secured 5y this Security Instrument�f: �=•`��l ,,,,r �__
<br /> ;:;c.
<br /> C,.,�, _. , (i)All or part of the Property. or a bencficial interest in a nust owning all or part of the Property, is sold or ;,:,�, �}W��-�
<br /> otherwise transferred(other than by devise or descent)by the Honower,and �•�����
<br /> ',SL�r_�_.tm'=�.
<br /> � �'�• � � � (ii)The Property is not occupied by the pun�haser or grantee as his or her principal rcsidence,or the purchaser ',a��;;�.�;,_-a__
<br /> ' , � or grantee does so occupy the Property but his or her credit has not been approved in accordance �,,,y
<br /> • - � ••�� �' with the requirements of the Secmtary. ��� `"
<br /> ` _v.;...�:. ,. ,.;;j''^-X`--
<br /> • ,,; (c)No Weiver. If circumstnnces occur that would permit I.ender to require irnmediate payment in full,but Lender �=���°
<br /> ° „ cices not require such payment�,Lender does nat waive its righis with respect ro subsequent evenGc. �:',.,::',:`~: ___
<br /> � ,ti_ (d)Itegulation�s of IiUD Sttretary. In many circumstances regulations issued by the Secretzuy wiU limit Lender's . � , .---
<br /> ; ,: rights, in the case of paymcnt defaults, to require immediate payrnent in full and foreclose if not paid. This z =
<br /> ' .r ` Security Instrument does not authorize acceleration ar fomclosure if not permined by regulations of the Secretary. ..
<br /> `,-�:,T..�_
<br /> s (e)Mortgage Not Insu�ed. Bonower agrees that should this Security Inswment and the note secured thereby nat -�=-
<br /> . . be eligible for insurance under the National Housing Act within 90 DAYS from the ,::.�_,�.,�:
<br /> i }', dnte hereof,l.ender may,at its option und notwithstanding:u�ything in Pam�raph 9,require immediate paymcnt in • ,_�km-
<br /> � , full of al! sums secured by this Securiry Instrument. A written statement of any authorized agent of the Secretary �a�`,��,.+��:_
<br /> ',` from the date hereof,declinin to insure this Security -
<br /> dated subsequcnt to 90 DAYS � . _
<br /> Cnstrument and the note secured thereby, shall be deemed conclusive proof of such ineligibility. Notwithstanding —
<br /> the foregoing, this option may not be exercised by Lender when the unavailability of insurance is solely due to � ia�:��,
<br /> �� •,,.:;;!; Lender's failure ro remit a mortgage insurance premium to the Secret�ry. _
<br /> -- '- -'•r i^^3C��;:;:cyCii.°d lri:s"Ci31°te�+aY�rnt ir2 fi�ll he�nuce �/
<br /> ° 10. HelnstaEement. Bo[TOwer itns u �iglii i�uv icii'isi8.:..,�� ..�� -
<br /> , : of Bortr�wer's fuilure tu pay an amount due under the•Note or this Security Instrument. This right applies even after ` ;_�•-
<br /> ��`�`� foreclosure proceedings are iostituted. 'Ib reinstate the Securiry Instrument, Borrower shuU tender in a lump sum all .
<br /> � amounts required to bring Borrower's account curtent including,to the extent they are obligations of Borrower under this .��:,�_
<br /> i,��� Secunty Instrument,foreclosure costs and rensonxble snd customary nttomeys'fees and expenses properly associated with :_`'"=
<br /> • . tl�e foreclosure proceeding. Upan reinstatement by Borrower, this Securiry Instrument and the obl�gations that it secures �t��_�
<br /> shall remain in effect as if Lender had not reyuired immediate payment in full. Howevcr,Lender is not required to permit Tf'.•;
<br /> . .. •.�....._
<br /> • reinstatement if: (i) L.ender has accepted remstutement ufter the commencement of foreclosure proceedings within[wo :�;L:_.
<br /> � � years immediately preceding the commencement of a current foreclosure proceeding. (ii) reinstatement will preclude '�,,;: ,:,_ �
<br /> ' foreclosure on different grounds in the future,or(iii)reinstatement will advenely affect[he priority of the lien cmated by .,.��;;r�
<br /> this Seca►rity Instrument. x�%�
<br /> I1_ I3orrower Not Released; forbenrnnce by Lender Not a Woiver. Eztension of the time of puyment or , ,.�
<br /> ° rnodification of amortizadon of the sums secured by this Securiry Instrument granted by Lendcr to any successor in mterest ��_�
<br /> . of Bormwer shnll not operate to release the liability of the original Bonower or Borrowers successor �n interest. Lender .-,,.�
<br /> shall not be required to commence praceedings agamst any successor in interest or refuse ro extend time for payment or .'�,�`"•"
<br /> : �,;_
<br /> othenvise modify amortization of the sums secured by this Securiry [nstrument by reuson of any demand mude by the .,,�,�,''.�'.
<br /> • original Borrower or Borzower's successors in intercst. Any forbearance by Lender ui exercising any right or remedy shall ,a,,, d
<br /> ' not be u wniver of or preclude the exercise of uny right or remedy. %°".Y��.
<br /> 1Z. Successors and Assigns Bound:Jofnt and Several L3ability; Co•Sl�ners. The covenants and agrcements of
<br /> this Szcurity inswment shall bind and benefit the successors and a�signs of Lender:+nd Bartower,subject to the provisions �>'�^,;�,;,
<br /> " �f Paragrnph 9.b. Borrower's• covenants and a�rcements shaU be joint and several. Any Botrower who co-signs this . ,
<br /> Security Instrument but does not execute the Note: (a) is co-signing chis Security Instrument only to mortgage,gr:utt and ,
<br /> convey that Borrower'.s interest in the Propeny under the terms of this Security Instrument;(b) is not personally obligated to ,�t`; ��
<br /> ° pay the sums secumd by this Securiry Instrwnent; and(c)agrces that Lcnder and any other Borrower may ngree to extend. .
<br /> �. " rnodify, forbear or make any accommodatiuns with rcgard to thc terms of this Security Instrument or the Note without thut ��
<br /> : ' Borrowersconsent.
<br /> 1�. Notices. Any noticc to Borrower provided for in this Security Instrument shall be given by delivering it or by �
<br /> ,+- mailing i[by first class mail unless applicable luw n;yuires use of another method. 'The notice shall be directed to the �
<br /> Property Address or any other address Borinwer dcsignates by notice to Lender. Any noticc to Lcnder shal)be �iven by �
<br /> ' first cl:iss mail to Lendcr's address stutcd hcrein or any uddress Lcndcr dcsignatcs by notice to Borrower. Any notice
<br /> . provided for in this Security Instrument shall be dcemcd to havc bcen�;ivcn to Borro�ver or Lendcr when givcn as pmvided
<br /> � in this paragraph.
<br /> 14. (:overning Law; SevernbiliQy. This Security Instrument shall be govcrncd by Fedcr�l law and thc law of the ,
<br /> } jurisdiclion in which thc Property is locuted. In the event that any provision or clause of this Security Instrument or the ,
<br /> Note eonfl�c•t+with applicable law, such eonflict shall not affect othcr provisions of this Securiry Instrument or the Note
<br /> which c.m he�;iven effect without the conflicting prvvision. To this end the provisions of ihis Security Instrument anJ the
<br /> ' � Note ar-da:l:�red to be severable.
<br /> � 15. Borro�ver's Copy. Borrower shall be given one confarmed copy of this Security Instrument.
<br /> � , �"iG. Assignment of�2ents. Borrowcr wuonditionally assigns and transfcn to Lcndcr all the rents und revenues of thc
<br /> , ('roperey. Borrower authorizes Lcnder or Lender's agents to collect the rcnts and rcvenucs and hereby directs each tenant of
<br /> _ _ _ __,__________ the Pro�erty to pay the nnts ro Lender or LendcrE agents. Howevcr, prior to Lender'� noticc to Borrower of Borrowcr's I__
<br /> . n_�__.___�._���..��....�..».1..�....�vo ull r.•ntc wnrl mvrnuoc nF L
<br /> breach ofany covenant or ngreemenc in inc Sc:curiiy uni�����e���,ow�vw�� ,..u............»..�-.�--.•——•--^—----- --- �-----_---
<br /> 6° ,� the {'roRerty as trustcc for thc bcncfit uf Lcnder and Borrower. This assignment of rcnts constimtes an:tbsolutc assignment
<br /> z • - and not an assignment fur adJitional sccurity only. `
<br /> � If Lender gives notice of brcach to Borrower. (u)ull m.nts rcceived by Borruwcr shall be held by Borrower as trustce
<br /> for bcnefit of Lender only.to be applicd to thc sums sccurcd by thc Security Instrument(b)Lender shall be cntitled to i
<br /> � ' colltct and receive all of dte rents of the Property;and(c)euch tenant of the f'rc�perty�hall puy all rcnts due,md unpaid to
<br /> Lendcr or Lender'.s agcnt on Lendcr�writtEn dcmund to the tenant. i
<br /> �� � �ortower has not executeJ.my prior assignment uf the rcnts and has not and will not pert�orm a��y act that would
<br /> � prevcnt Lcndcr from excrcisin�its rights undcr this Paragraph 16.
<br /> Lendcr shnll not be reywrcd to entcr upon, takc contrul of or maintain thc Proprrty hefon or aftcr giving noticc of '
<br /> U " breach ro Boarowcr. Howevcr, Lendcr or a�udirinlly apQointcJ reccivcr rnay do w ut any timc thcre is a bnach. Any
<br /> . application of n�nts shall not curc or wsivc imy drfnalt or mvalidutc anv uthcr right or nm��Jy of Lendcr. Th�s assi�;nment
<br /> . of rents of thc Property shall tcrminatc whcn thc dcbt sccurcd by thc Sccunty Instnirncnt is paid in t'uIL ,
<br /> IpUgr{��J J puAPSI
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