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<br />_._.f,,, pnyments,�vhich nre refctted to in I'aruyrapli 2,m•chnnge the amount of such �ayments. Any rxcess pruceeds uver�u� !
<br /> amount rcc uired to pay al;outstandinB indcbtedncss under the Nute nnd thiw Sccurity lnstrument shall be puid to the cntity
<br /> _�.:s-+ x�;,'^•� •..: Icgally ent�tled thercto. -
<br />-__�� "•'� '��"'" H. Fees. l.ender may collect fees aud c{�nr�es uuthurized by tlie Secretsuy.
<br /> _.. .�;�, : .
<br /> 9. Ground�Fur Accelerntion of Debt.
<br /> -"�''-'��—`�°'�=-_-'•'— (a)Qefnult. Lcnder mny.except ns limited by reg�Qcuions lssued by th�Secretnry in thc c�se of payment defnulte,
<br />-° �``�`''`���''�'���'.� rt�quire immedinte payment in full of nll sums secured by this Securisy Instnmient if: �
<br /> �,r,.y,. „•:-.-,. - (i)Co�i•ower defi►ults by failin� to pay in full uny monthly payment rcquired by this Sccuriry Instrument prior "��'..�..
<br /> ::°�; R o �r.w'.
<br /> ;�`�,�,;���#, to or on the duc date of the next monthly puyment,or =-
<br /> (ii)Darrower defaults by fnllin�,for a psriod of th�rty duys,to perfoRn any othcr obligations contained in this �:.-�
<br /> _ •" ' ' '' Sccuriry Instrument. '
<br />-- .">�"�`"��- ° � (b)Snlc Without Credif Approval. Lender shall,if pennitted by applicable law and with the prior approva!of thc ��;:
<br />_ >.� � : ,. Secretary,require immediate paymcnt in full of all the sums securcd by this Security lnstrument if:
<br /> ';,�.:: ,'_,w.:,. (i)All or part of tl�e Pruperty, or a beneficinl interest in a tnist ownin� all or part of thc Property,Ys sold or „
<br />_= _,. • athenvise trznsferred(other thnn by devise or descent)by the Borro�ver,and ��
<br /> �;3";.t:_�;��;'.;;;': (ii)The Propeny is not accupied by the purchaser or grantee ns his or her principal residence,or the purchuser ��'�`
<br />- , or grantee dces so occupy the �roperty but his or her cm�lit has not been approvcd in accordance �.",.'
<br /> _��'` , '�� with the requirements of the Secretary. ;;
<br /> , ;" (c)No Witiver. If clrcumstnnces occur that wauld permit Lender to reyuire irnmediats poyment in full,but Lender ?;•:;;�•
<br /> _ , ,- �•, does not rcquire such payments,Lender does not waive its righGS with respect to subsec�uent events. '�.
<br /> '-���� '�•�••• �.� (d)Regulations of HUD Secretury. In muny circwnstances regulations issued by the Secretary will limit Lender's �•:__"
<br /> � �� ri hts, in the cASe of a ment defaults, [o re ulre immediute a ment in full and foreclose if nat aid This
<br /> I� �������'�Y "' Security Inatrument dac5 not authorize acceleraion or foreclosure if not p�rmitted by regulations of the Secretary. "� "
<br /> :��:�.'',� ;�.
<br /> • �:�;;�;:,;,. . , ' , (e)Mortgu�e No!Insured. Borrower asrees thut should this 5ecurity lnsvurnent nnd the note secured thereby not - _
<br /> , be eltgible for insurance under the Natianal Housing Act within 8 mon'ths from thc
<br /> dnte hereof,Lender may,ut its option urid nonvithstnndin�nnythins in Paragraph 9,require immediutc payment in �,,�•�"
<br /> . . -.' full of all sums secured by this Securiry Instrument. A written statement of any authorized agent of the Secratury —
<br /> '�'�, � dntcd subsequent to 8 mont;hs fron�the date hereof,dcclining to insure this Securlry �,.;:::.-
<br /> � � � �° � [nstrument and the note secured themby,sh�ll be deemed conclusive proof of such ineligibility. Notwithstnndin� �:_—
<br /> . . • , thc foregoing, this option muy not bc cxcrciscd by Lcndcr�uhcn thc unavailability uf insurancc is solely duc to k�=-'
<br /> " _ I.cndcr's fnilurc�o rcmit u mortgngc insurancc prcmium to thc Sccrctury. �,�"
<br /> •. 10. Rclnntntement. Borrower hus n right to bc reinstuted if Lc�idcr hi►s reyuired i�rnncdiatc payment in full becausc �,�-_
<br /> ., af�artowcr� fnilurc to pay im umaunt duc undcr thc•Nutc or this Sr.curity Instrument. This right iipplics cvcn t�ftcr -
<br /> � forcclosurc prcrcecdings urc institutcd. Tu rcinstatc thc Sccurity Instrumcnt, Borcowcr shuU tcndcr in e lump sum nU �r:��s
<br /> . : �� umouncs r�Nuircd to nring fiormwcrti uecount currcn[incIuaing,co thc cxccnt mcy urc obiigutionx oi Borrowcr unJcr ihiy -
<br /> •• Sccurity Instrumcnt,forcclosure costs and rea�onuble and customi►ry uttamcys'fccs und cxpenscs propcely ussociaYcd with �
<br /> „ ' the forcclosurc procecding, Upcm rcinstatement by Borradver,this Security Instrument and thc obligations thut it secures =-
<br /> shull rcinain in effcct ns if Lendcr had not reyuired immediatc payment in full. Howevcr.Lcndcr is not requireci to�crmit !�-•"
<br /> , reinst��tement if: (i) Lender has uccepted retnstatement after the commencement of foreclosure proceedings wfthm two ���'
<br />- ycnrs immediately preceding the commencement of u current foreclosure procceciing. (ii) reinstntement will preclude "
<br /> _ _ foreclosure on different grounds in the future,or(iii)reinstatement will adversely affect the priority of the lien crented by -
<br /> ' this Security Instrumcnt.
<br /> � "`'��`` 11. Borrower Not Relensed; Forbenrance bY Lendec Not a Wn(ver. Exrension of the time of payment or �
<br /> ' �"��'' � modification of amortization of the sums secured by th�s Security Instrument granted by Lender to any successor in intemst � �
<br />��- ` ��•��' °' �. of Bonower shall not operate to rele�.se the linbility of the ori�inul Borrower or Borrower.l•successor in interest. Lender =T�
<br /> '" ."''. " ' shall not be rec�uired to commence proceedings against any successor in interest or refuse ro extend time for payment or a
<br /> . otherwisc madify amonization of the sums sccured by this Securiry Instrument by rcason of any demnnd mctde by the i;
<br /> � ,• origin:il Borrower or Boauwer s successon in interest. Any forbearance by Lender in exercising any right or remedy shall • �+�_
<br /> ' � s''.� not be n waiver of or prer,lude the excrcise of any right or remedy. �1
<br /> ' 12. Saccessors nnd A§slgns Aonnd; Joint nnd Several Liability;Co•Signers. 'fhc covenants :►nd agrecments of
<br /> �' ^ .,- �` :. • this Security Instrument shnll bind and bene�t the suceessors and nssigns of Lender and Borrower,subject to the provisions °' `
<br /> � of Parngraph 9.b. Borcower's covenants and agreements shall be joint nnd several. Any Borrower who co-signs this
<br /> • Security Instrument but dces not execute the Note: (n)is co-signing chis Security Instrument only to mortgage,grant and
<br />- convey tl�at Borrowerti interest in the Praperty under the terms of this Security Instrument;(b)is nut penonalfy obligated to
<br />= „ pny the sums sccured by this Securiry Insm�menr,nnd(c)�grees that Lender and any other Borrower may agree to extend,
<br /> µ , modify,forbew or make uny accommodations with regard to thc tcrms of this Security Instrument or the Note without that •
<br /> Borrower�consent.
<br /> _ . 13. Notices. Any notice to Borrower provided for in this Securiry Instrument shull be given by deliverin� it or by
<br />- mailing it by first class mail unless applicnbte Inw requires usc of another method. 'I'he noticc shaU bc directcd to thc
<br /> �� Yroperty Address or any other address Borcower designates by notice to Lcnder. Any notice to Lender shall be given by
<br /> i first class mnil ta Lender's address stated herein or any addcess LcnJer designutes by notice to Burrower. Any notice �,
<br /> ;�, provided for in this Security Instrument shalt bc dcemed to huvr,bcen given to Borrowcr or Lendcr when givcn as pinvided
<br /> in this pangrapl�.
<br /> :�, 14, Governing Law;Severnbility. This Sccurity lnstrumcnt:chall bc govcmcd by Fedcral law and thc law of thc
<br /> jurisdictian in which the Property is located. [n the event that m�y provision or clause of this Security Instrument or the
<br /> `� Notc conflicts with applicablc law,sunc�onflict shull not affcct othcr provisions of this Sccurity Instrument or thc fVotc
<br /> , which cun be given effect without the conflicting provision. 'Ib this end the provisions of this Security Instrument and the
<br /> , � Notc iuc dcclared to be sevcrable.
<br /> ' ' 15. Borrower's Copy. Barrower shnll be�;iven one confonned copy of this Securiry Instruntent. I
<br /> ,� 16. Asslgnment of Rents. Borrowcr unconditionnlly assigns and tnnsters to Lender all the rentti und revenues of the
<br />. ° PropeRy. Borrower authorizes Lender or Lender's•a�ents to collect the rents and revenuez und hereby directs each tenant of
<br /> � the Property to pay the rents to Lcnder or Lender:s agents. Nowevcr, prior to Lcnderti noticc to Borrowcr of Borrowerk I
<br /> ,. brencli of nny covenant or ii�3recment in tNe Securiry Instrument.Bortower shall collect:md receive all rents�ind revenues of
<br /> ,. tltc Pruperty us trustec for thc bene�it vf Lcndct uttd Borrower. 'fhis nssignmcnt of rents constitutcs an absolutc assignment
<br /> .�°_ .. nnd not un nssiBnmcnt for additional security only. I•
<br /> -- - ,_,
<br /> � -- - ' It Lender grves notice ot breac(t to tlorrower: (a)all renGs received by Borrower shall be held by Bottower as trustce
<br /> i for bcncfit of Lendcr only,to be applied to the sums sccured by thc Sccurity Instrument;(b) Lender tihull bc cntiticd to
<br /> collect nnd receive nll of the rents of the Property;and(c)each tenant of the Propeny shall pay all rcnts due and tmpaid to
<br /> � :.cr.der or Lender;agent on L�ndcr'�writtcn demnnd to thc ten:uit.
<br /> , Borrower hus not executed any prior assignment of the ronts and has not and will not perfortn uny act thut would ;
<br /> t�c � prevent Lender from exert;isin4 its rights under this Purigraph 16. � �
<br /> ..� Lcnder shull not bc rcqu�md to enter upon. take control af or maintain the Propcny bcfore or after givin�noticc of j
<br /> brench to Borrower. However,Lender or u judicially apQointed receiver mny do so at :►ny time there is a br�ach. Any i
<br /> upplication of rents shall not cure or waive any defnult or mvulidatc any othcr right or remcdY of Lcndcr. This assignment
<br /> of rents of tltc Property shall tcrminate�vhen the dcbt securcd by the Sccurity Instrument is paid in full.
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