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<br /> --:•�?�'.��':�;�'.�``� ' Payace�s.whic�are Rfetsed w in F�ra�ap�2,ar c�ar►ge�t�amauat of such payrtse�ts. �By exeess p�oee8s aveY�a ' •`" .. , -
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<br /> � �z �unt m,�ui�d�o PaY all a�nding,indeb�aader tiie Nota aad tbis Sec�tnty Insisument shal��e�Eo th�ens�s'sty .
<br /> '_—'.�_Hi�c'�i',?�-�_ � . . E i.
<br /> —�.,�*.�t:. :�:. iegaUy e�tttled tbr�ew. .
<br /> ��=�=-�-.-�.:x�.;� 8. Fees.Lende[may,col�ct fezs sud�arg�s awhori�d bY��• . .
<br /> - _- . °`• � . 9. Grormds[or Accefe�inn af De6L � . � . .
<br /> - . .•':: . (aT�efaviw�i.endar may.exceps as[imited lay�gu[ations issued by the SQCSet3uy in the cass of psym.�c�efa�lts,
<br /> �-';s`''� ` '� � .-`_ ' �quue immedlatepayace�t un full of�sums secured dy this Secuiity LLSUulm�nx if:. .
<br /> � � • ecu i
<br /> '� ,�, � .i_:y ' (i)Barra�rer de�aviu by faitiflg w pay en full any montl�ly payment tez�nued bY thiv Sec�srity�stswnent pzior .
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<br /> - to ar an t�e•�ue date 4f t�ae�ct mons�iy pay�tes��.mr . � ' - -
<br />-:_;._ , . . : � , (ii)Ban�uer defautts by fsu7ia�.for a pgriod of thirty days.to peifmm any other abti�Ons cont�Ined�fbis �
<br /> ::;;;;�". � �, . � Sa�Insmim�nt vul of tAC .
<br />`--�r. � .� �.'. � � (b)Saie ntCe�dlt ApprovaL Lender shall,if permitte�by applisable Ia�v and witb tUe�xior�ppm .
<br /> h': �- •:�--;:`� Seccetary,re4uin im�diatc WdYmsni in fall of at1 ttse sums sesured by ttu�Sec�arityf Instn�men4 if •
<br /> "_''''�"�,- , �_. (i)Atl or pa�t of ttte Froperty.os a beneficial interest m a mLSt owmng aIl or patt of th�e PYa�tty:is s�td or
<br />:,;;�'.=`�. � � othotwise h'dllsf�ed(ot$et ihaII by devese OT deSeeA1�by the BoImwes.eIId
<br />:��+�1i'�:,;'�: ,_ , ('u�'!he propeny is not occupied by th�gnrohaser or grantee as his or Dter psir►apal residease,ar tIle purc�aser
<br />_:.�;':'1:`�..�-�•,`' . ar g�annee Qnes so occupy the Property but tus ox �credt has aot 6eea appsoved� in accardaace •
<br /> r�.i° � '' aitb the rrec{uuicemensa of the S��Y• •
<br /> ' uemenia
<br /> f,..�:.: • (e)No tVaiver. If rim�a*+ �accnr thax woul�pz�mit.Cs�d.er w require immediate paymeat in full.6ut f.ender .
<br /> � �, . ' does nat:eynire suchpayments,Leader dnes not waive i�crs�cs�aruh zespect to su6sequent eyents. . �
<br /> �-��,� � � (d)Beg�tiations at HUD Secretae9 In mazry cus�st�s�.��lations issued by t1�e Secretary will limI�'l,et�ea�
<br /> � Yl'.. ' ' . �� .
<br /> � ` rigT�ts,m the case of payment defanits.to reqmie immediat��ayment in full aad foteclase i�.aotp Tfus
<br /> j`�. . • �` S�mty Insu�ttneat does nat a�horize acceleiatinn or�oiecios�re if a�p�rmiued hy riegnfations of the S�:c�retary
<br /> . �.� '. :
<br /> . , '�� (e11V�ortgage Not Iasured. Borrower agees thac shanld dus Secarcty Iast�nment and tf�e aote seeured thereby aot .
<br /> `--�-=�.:-�__-- -- -•= be e6gi�Is for instuance ander tha Natianal Hovsing Act wit�6m ' g mo�f$hs fmm the
<br /> : f •,>: �`T `.:". . .. . . date�he�eof,-txnder may,at its�aption and aote+ithstanding amythinS�ia Faragiaph 9.require i�diate PaYment in
<br /> � �;. ; , . .
<br />" .•� � ' • . � fuil of all sums seciued by tfis�ewrity tnstnuneni. A wriuen statemeat of any aaithori�d age�nt of the Sect�lary .
<br /> ,.,
<br /> ' '. ' dated subscquent to 8 months fmm the date herea�deciining to insuce Uus Sec,urit}+
<br /> �'"+��;i '' Instnmment and the aate secuied thereby.sha91 he dsemed eonclwsive proof of such meligib'sliry. Notaithst�g
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<br /> �.-;,,;�.�:�t._ -`_r . the foregoiag,this option may aot be eae�ised by I.ender when the unavv7ab�ity of insur�c�e is snl�iy�due to
<br /> . . '• ;'• Lender�s fa�uie W remit a mortgage insurance piemiam to the 5ecretary. •
<br /> .. age gh Rqu in fn1T becanse
<br /> � , . ' . � 10 Reinstatement Bomnwer has a ri i to be remstated if Lender has ired immediate payment'. „�:_
<br /> • . • • `�'�� of Borrower's faittue to pay an amo�t due ander the•1�Iote or this Securit}r Insuume�u. This nght ap�lies evea after �
<br /> forectos�re praceed'mgs are instituted. 'Co reinstate the Security Instrvment,Borrower shall teader in a lump sum all
<br /> . . ' • amounts tequiced to bring Bortower�s account carrent inciuding.to the extent theg art obligations of Bormwe��des this
<br /> �.,;:;<•��•-.� : 5eauity Instnunent,fo�tosu�e wsts and reasonabte arndcaseomary at�omeys'fees and eapenses progerly assaciazed witb
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<br />: � � : .� ' the forectosrue proceeding. Upon reinstztement by IIenu:�;er,t�is�.�urity Inmument and the obliga6ons that it secaces ,
<br /> � shall mmain ia effect as if Lender had aa�caquited��„n-�;;�,�g�yi��n full. Hawever,Lender is rcot requimA to�e�mit �'=��'
<br /> , � . cem�P^±�-*if: (i)Lender 6as accept�rainstatema't z�i..�r the cae�nencement of forecIosure praceedings witL�n two -_
<br /> . . y�ars immediately pre�du►g the commencemerct of a cmrent foiz�'fosvre pwceeding, (ri)reinstaiement �vill preciade -
<br /> • .' � foreclosure an different grounds ia the futu�.or tiii)reinstatement will adversely affect t$e prcority of the liea�c�eated by � —
<br /> ' � ' ' • �Sll�. Bosmwere Not Released; For6earance 6y Lender Noi a Waiver. F.�ct�nsian of the tirae of payment or �
<br /> . - � � ���" �,` ' cation of amortiza6on of the s�am�secured b this Security Instrument gmnted by Lender to any successor m interest • "�;
<br /> mod�fi Y
<br /> ' of Barmwer shall not operate to rete�'tise liability of the original Borrower or Bomnwer�s s�ccess�r in interesL l.ender ._�
<br />_- �,. � s6all not be iequued to commence proce�dings agamst any successor in interesc or refuse w eatead�mme for p��t�oe
<br /> es
<br /> . '. ' o i hervvise m a d i f y amortiza�ioa of the sums secured b y this Securi t y Instrument by reason of any demand � �w�-�-
<br /> � • � original Barrower or Bomawez's successais in inteiest. Any forbearance by l.ender m exercising any*ight or remedy shall f
<br />,:.-''I�' � ' •
<br /> = -_��•:`_"� . not be a waiver of or yreclude the exercise of ar►y right or remedy. � ;'���
<br /> - � � ' ;�_ ...` � lL Saaceswrs and Ass�gns Bound;Jotnt aad Several Lia6flIty;Co-Signers. 77re covenanu and agreements of •=��ar�= _
<br /> ` ' ' this Seatrity Inswment s6all bind and benefit the successo�aird.asstgas of Lender and Boaower.subject to the provisions '`�,��-'
<br /> '� . of Paragap6 9.b. Borrower's covenants and agreemenu.sh�lI,lsc:,ja�r►t and several. My Borsower who co-signs this '=:•�,—�,.._.
<br /> •` ' Security Ins4ament but does not execute the Note: (a��is ao-ss�fn,g this Security Insnnment only to mo�rtgage.giaat and '" `-..�_�-=---
<br /> s..�'��' � . .� ' comey that Borrower's intemst in the Property ander tY P� ga . � ----�
<br /> iire u,ims of tt�is Securi lnstrument;(b)is not onally abli ted to r
<br />= _ �. ' � pay the sums secrued by this Security lnstrumen�ar.d Cc)agrees t�at Lender and any other Borrower may agree to extend. ��� � �'��=.
<br /> �� � modefy.forbear or mske any accommodadans with regard to the t�rnu of this Securiry Instrum.en;.or the Note without ihat ' �
<br /> -'� Bomawer�consen� '.`'�''•�`�`
<br /> ';�� - � 13. 1VotIoes. Any aotice to$ormwrr provided for in this Seisuity Instrument shall be gtven by delivering it or by �. _ _
<br /> �t � � ' mailiag it by fust ctass mail untess apisS'c^.ab1e law requires use of another method. 71ie notice shaA be directed to the ,
<br /> _y.: ' prupeny pddress or asry other address Borrower designates by notic�to Lender. My notice to Lercder sha91 be given by . :
<br /> -.r�, „� � • first class mail to Lenders addtess stated herein or any addmss Lender designates by notice to Borrower. My notice ,
<br /> {�'"� '�.� provided for in this Security Instniment shall be deemed to have been given to Borrower or Lender when given as provided �•
<br /> :_� ` ' -... in this Parag�aPh. .
<br /> a
<br /> � 14. �vernin�Law;SeverahiUly. 7'his Security Instrument shall be govemed by Federal law and the law of the ,
<br />_ juris�iction in which the Pmperty is tac:zted. In the event that any provision or clause of this Securiry instnunent or the
<br />`•. ,?..��'• � . , Note conflicts with applicable law.such conflict shalt aot affect other provisions of this Security Inswment or the Note • .
<br /> wluch cun be given effect without the wnflicting provision. To this ertd the provisions of this Secutity Insttument artd the , �
<br /> ? '� Note a:e declared w be severab:e. '
<br />_- •,� . • 15. Borrower's Copy.Botrower shaU be�iven one confamied copy of this Security Insu�aent. � � .�,
<br /> 16. Asstgnment of Rents Borrower uncondiqonally assigns and transfers to Leader all t�..°.renL und revenues of the
<br /> Pmperiy. Banovrer authorizes l.eader or l.ender�agenu to collect the rents and revenaes artd hezeby directs each tenant bf
<br /> . �� , the Property to pay the renu to Lender or Lender's agents. Howaver.prior to Lender's nauce to Bairovrer ot Borrower's • �
<br /> • , , breach of azry coveaant ar agteement in the Security Inswment.Bomnwer shall coltect and receive all rents and�evenues of ,
<br /> � � the Ptopeity as uusoze for the benefit of Leader arcd Borrower, 'Ihis assignmem of rents wnsdmtes an absalute assignment �
<br /> -- . •• ' • ' and aoi�assignment for additiana!secutity only. �
<br /> � If Lender�ives aodoe of brea�h to Bmtvwer. (a)all rents received by Borrower sha11 be held by Bonower as trustee .
<br /> r: �. : • � for benefit of Lender only.to 6e applied to d�e sums secured by the Secunty Instrument;(b�txndsr shall�e entided to
<br /> ' ..,:.� ��. coll�ct aad�eceive all of dtr tents of the Piropeity;und(c)each teaant of the Progerty shall pay all rents due and unpaid to � �.. .
<br /> _- Lender or Leader's�gent an Lender's vrriuen demand w the ten�nt. . �'
<br />— � � Borrowet t�as not executed any ptior assigament of the tents aad has not and will not perform any act that would � •
<br /> - , . � ent Lender from exer�ising iis righis under this Paragtaph I6. . �� , .
<br /> _�• Pnw .
<br />- Lender shall not be required to enter upon,take conuol pf or maintain the Froperty before or`aRer giving notice of � . .
<br />,`" � b�h to Bmtower. However.Leader or a�udtciaUy appointed receiver may do so at any time tgsere is a breash. Any r ' , ;
<br /> . � app&cation of rants shall Rat cure or a�aive any Qefauit or invalidate any other right or remedy of Leader. This assignmenc , t � •
<br /> . „
<br /> ... .
<br /> ''_,__..: _ olrents of the Ptoprrty shsill terminate when the debt secured by the Security Instrument is paid in fWl.
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