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<br /> ��,.�;° : PaY��•wbich are c�ferc�i to in Parn$raph 2.or,cl�aage�e amount of sucb paymen�: Any excess over asi � =
<br /> ��.���;�, : ' smaimt se�ed to pay atl out�Kaadiag indebiedness uuder die NoYe and tiIIS Sertttrty(osuam�t ahall be gacd w the eaaiy �� =-
<br /> =Y _. .. ., Yegally eatftledth�teto. " _,, -
<br /> :;.:��'.�_ ` �.:. . 8. Fee�I.ender may caIIect fees aad char�es authorized by the Secr�tary. - ,,i F 3�`.���;
<br /> „ fi;_,.y.. ; ' .9 Groun�s fup Aca�eratio�oi UcDL - _ � �"� :-`
<br /> � E (a)'Defantti Ixader may.eacept as limited by cegWations issued by the Secretary in the caze of paymcnt dsfauIts. ''�. Y -� �
<br /> �" <<'�- '..�' . imm� eat in fvll of al!sums secared tiy this Secun Iu��t� ��:� , �,�� -
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<br /> ,� `'� • .. ��?Borroares��[ry failmg top�y ia futl arry manthIY PaYa3ent r�ui�d 63+this Se�urity Insaiameffi ptiar � . �` ,�.
<br /> ���. • ta or on the due dare of the next mondily payment,or , •..�
<br /> s . • (n�Sarrotiver defauIts by failing,fos�a penod af thirty dnys,W perform az►y other obii�ations contained in this ' , ,
<br /> •
<br /> �,� Security Instrumeat . '
<br /> �. ' ° � � . (6)Sate W�aut Cre�4at Approv�t. Le�der sUali.if peimitted bp agpIitabie taa+and with the Rsior apgrova!af the _ -- '��"
<br /> • ecm�ry,�1����P3Yme�i ia fuil of all tha sums secnred by this Secuciry Insuume�t i� . , ,�-,-�
<br /> � . .. S A('}i ll or part of the ge�y,ar a benef cial imterest itr a trusc owumg aJl or part of ths Property.is sotd or . . . �
<br /> "` L , athesa�ise transfeRed(oth�er than by devise or descent)by the Borrower.and . • �-"..
<br /> �:. es is
<br /> -">.:��-;: _ , Cri)'Ihe Yropetty is not occupied by the p�uehaser or geantee as his or her Enincipal cesidentx.or the pu�shaser _ �'_
<br /> -�=:: . - or grantee does so a�ccu�py the �mpen}r but tris or her c� has aot b e e n approv�d in a e c o r d a noe '�'��;�
<br /> � ��� � �. with the�equu+�menu of the Secsetary. . • �:'f `� .
<br /> �°� �' •�:4� (c)No Waiver If c�nres occur tbat woald pemrit Leuder tn require im�afiate payment in fuil,bat Lender .���:
<br /> �.�;. .����• dces nnt erqaae snc6 paymeuts.Lender dces not wanre�u rights with respect to subsequent eveats. � _ �
<br /> � . ' (d)8egnfa�aas of HUD Secretary. In�any cir�vmstances regulau�s�ssued by the Secretary will timit l.end�r� � `�
<br />--�°': � �'. sighrs.m ttr�case of paymant defanits,to require anmEdiate payment in full and foieclose�f noi paid. This . , �.. '�:�'
<br /> `"`� `. Secarity Inskument daes nut authorizs acceleiation or gereclasare if not penniued by regalatians of the Secrerary. °:,b.,,- _.::=� :_
<br /> „t� • .� ,. .. -,:
<br />-�:. �� �`.'` (e)Mo�e Not Ins�ed. Borrower agcees that shony9 a�is Seauiry L�sdvment and thc note secured thereby not ,:,�.;,,:;.�"�
<br /> ` .` �e'eligi'6Ie for insurance under the National Honsing Az�within 9� OAYS t��E - ` _
<br />`��..;•� .`�,":, . date hereo�Lender may.ai its option and notwithstandiag anything in Farag�aph 9,require imm�ate gaymEnt� • -�`�_�
<br /> _�'.`. ;"• .,. � fall of all sums seciu�ed by this Securiry Instr�eat_ A written statement of any autharizQd ageat of ths Sec�etasy , . ` --
<br /> � . — � dated sabseqaerrt to. 90 OAYS fcam the date hereof,declining io insuce this Secarity _ _
<br /> , Insfimient and the note secured thereby,shaU be deemed conclusive pmof of sacdi uieligi'bHity. Notwithstaud�ng -
<br /> �
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<br /> r--� • � the fo�oing,this option may ttot be exa+cised by Leader when the wiavailab�of insurance is solely due w ����"
<br /> - •,• '' � '� I.ender's failute to remit a mortgage insurauce premium to the Secntary. i�,
<br /> ` � � '```•" � 10 Reinstatemea� Bomawer has a ri t to be reinstated if I.ender has munediate a eat in fiill because
<br /> .._4�. _��nu.� - � ' f � .r
<br /> ti�,,,>°. •. .--� • of Borrower's faiIute to pa y an amount dtie ander the•Note or this Secudty Ins�tiumen� 77�is nght ap�lies even after - ��f�"`'
<br /> '``r : ; � . ' foieclosure proceedings are instit�ed. To ieinstate the Security Ir�mumens.Borrower shall tendeF in a tump sum a l l �. x�`4-'. .
<br /> ••, . .' amomns ceyuired to bring Bomau�'s account current iaciuding,to the extent they aze obligations of Borrower under this `
<br /> , Se�arity Inshument,forectosure cai�c:;urd rea5onable and cuswmary attomeys'fees and expenses pm p e r iY associated with : �'; ' .
<br /> ,,,�� .�, , � � � the foteclosuue pmc�eediag Upon c�.vnsst2�st Cy Borrower,this Security lnstr�ment and the obligations that it secuses . :�;�_
<br /> - shaU remain in effect as if Lender F.;d.nnt .�. unmediate payment in 4'u!F However.Lender is not requaed to pennii . .
<br /> �� ' , teinstatement if: (i)Leader has a�ed re��ns�tatement af[er the commeL:.�ent of foreclosure pruceediqgs anthin two ' `�?��� .
<br /> : • ' Y e a�s i m m e d i a u ly p r e c e d i n g t h e c r�r n e n c e m e n t o f a c u r r e n t f o r e clos u re proceedin g. (u) reinstatement will p r e clude ;. �';� '
<br /> ' foreclositie oa d i fferent gro�mds i��a future,or(iii)teinstatement will adveisely affect t�t�priority of the lien created by
<br /> �,�. .- �<�'; this Secunry Insuamen� , '�,� �
<br /> `� � � 11. Borsawer No! Released; Forb�oe 6 Lender Not a Wafver. Eatension of the time of paymen[ or � '•r�'
<br /> �N{. • `' modification of aznartizadon of the sums secuied by ttus Security Iastrumers�anted by Lender to any�ssor m inu�est ��r� ,i .�• ...
<br /> �� � of Borrower shall not operate to celease the liability of the original Boirov��or Borrower's saccessor�intetest. i.ender �, .,. � .
<br /> . „ ', • ' shall not be requirzd to commence proseedings ag,auist any successm in inierest or refiue to extend time for payment or �:��r� �
<br /> .� � , otherwise modify amorti7ation of the swns secured by this Security Instrument by reason of any demand made by the '� ,;..,,
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<br /> ' � originals Sorrower or Borrower s successors in interest Any fortaearance by Lender in exercising any right or remedy shall � t • �-�-�
<br /> gin
<br /> - �. .:L.: . not be a waiver of or rectude the eaercise of en ri t or remed . ' '' '�'^�!*'
<br /> P Y P� Y � .- ,.:.-.
<br /> ' � � ' � 1Z. Su�ass aad Assigns Haamd;doint and Several Lfability;0^�o-Siguers. 7'�e covenanu and agreements af ' � �`` _ �
<br /> " , r..,�. , this Security insuu�ant shall bind and benefit the successors and assigos of Lender and Borrower.subject to the provisions ���.,' = •
<br /> _�- ,� _ of Paiagraph 9.b. Boaower's covenants and ageements shall 6e joint and several. My Borrower who co-signs this .: . . �.
<br />-��"-�� `' Seciuityr Insuument but does not execute the Note: (a)is co-signing this Seciuiry Instrament only to mortgage.pant and ,.�..�.�� ; 4�;�:
<br /> •.�:�' . ,. '"..� oonvey r�at Borrower�s interest in d},e Ptoperty under tha terms of this Security Instrumenr(b)is nm personaily obligated to • .
<br /> .b,:,_,�.:' •: ����c�f:s . pay the svms seaured by this S�uriiv insuumenx and{c)agrees that Lender and any other Borrower may agree to extend. • ��
<br /> .��.::��,.� .. . ` �
<br /> �s,u:,�;,;�'t:;' . � �� madify.forbear or m��Ce any accomnodations w+th regard to the tertns of thi.s Security Instrument or the Note without that
<br />-�:��,���, - • Borrower�sconsea� `.' ` .r��. - :�;
<br /> ,� � , � � 13. Noticea. Any nodce to Bmrower provided for in this Securery In�-tnunent shall be given by deGvering it or by +" � �. ���-�t�'
<br /> �- . . . mailm�;it by first class mail unless applicable taw requ'ues use of another methad. 71�e notice shaU be dimcted to the , _ . '•..-
<br /> .1.,� � Propaxy Address or any other address Borrower designates by notice to Lendec Any notice to 4ender shall be given by - � • -''
<br /> : first cS:�s mail ro Lender's address stated herein or any addness Lender desiglates by notice to Bomower. Any nati.ce �
<br />���� � ' providesf for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided �
<br />_;,�;,.. .y. •� . . . .
<br /> =�`:;�. ,: . .. in th�s paragraph. . . .� ,
<br /> 14. Caveming Law;SeverahiHty. 77iis Securiry Instrument sha116e govemed by Federal law and the law of the - ;.
<br />-_r� ;� . • ; jurisdiction in which the Property is located. In the event that any provision or clause of this Seciuity lnstrument or the • . �
<br /> -.;:,� . � � Woie ounflicts with applicable law. such conflict shall not arfect other provisions of this Secuiity Instrument or the Note � i'
<br /> '-"�. - •, ;•���.:• � which ean 6e given effect without the conflicting pnovision. To this end the provisions af fhis Security Insuument and the . �,f.i
<br /> � Note are declaned to be severable.
<br /> � ;:..�.., _ ''.. ` :' 15. Borrow�'�Copy. Borrower shall be gven one couformed copy of tivs Security InstrumenG �: • � .
<br /> ',s' :'" • , '� 16. Assiga�o!Renfa Borrower unccaltitionally assigns and transfe�s to Lender all the renu�r�r3 ravenues of the '_ �� • • .
<br /> �:;�• �: �° . Property. Borrower authorius Lertder or l,ender's agents to collect the renu and revenues and heceby dimcts each teaars of , •J��
<br /> ' the Fmpeny to pay the rents to Lender or Leader�s agents. Hrswever.prior to Leader's aodce to Sanower of Borm+ver�s � ���•'
<br />`-'��_�,.'.� , -.� ., bteacb of any wvenant or ag�eement in the Securiry Inswr.:�,Bmrower shall coltect and receive all rents and ievertue;,of . `"
<br /> '--���� � the Property as wstee far the tsenefit of Lender and Borrovrer. This assignment of renu consdtutes an absotute assi�s�ent . ` , .''
<br /> ���• � and nos an assig�uaxnt for additional security only. � � :
<br /> '"���-.� If Lender gives notice of hieach to Bmmwer: (a)all mnts received by Borrower shall be hetd by Borrower as trustee � � �
<br /> • . f�benefit of Lender only.to be applied to tke sums secured by tha Security Insvument;(b)Lender shall be entit2ed to � .
<br /> collect and ieceive all of the rents of the Proprny;and(c)each tenant of the Property shall pay all rents due aad u�a:.d to - :
<br /> � • . � Lender m Lender�s agent on l.ender�s wriiten demartd to the tenant. ,
<br /> _ ' Borrower has not eaecuted any prior assi�uneet of the rents and has not and wiU not perfotm any.act that wau18 ' ,°
<br /> ' pievettt Lender from eaezrising iu rights under this Faragtaph 16. '
<br /> , . Lender shalt aot be required to enter upan,take cantrol of or maintain the Froperty before or after giving natice af -
<br /> . � �� breach to�arrower. However.Lender or a judicialIy ap,�ainte�recerver may do so a�any tune thtre�s a bieach My ,
<br /> � ' . aFplicahon of ients shall not cure or waive any defavlt or mvalidate any other right or remedy of Lertder. 'ibis assignment �
<br /> • � of�ents oF the Ptoperty shall termin�te wfien the deht sec�ued by the Sec�uiry Instrument is paid in fuU. . _
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