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<br /> a,y-,u. ` ' • • � . . . . ; '��'���}t�.
<br /> t. a �-s���"' ��iffy3w? �=� � -
<br /> `•L '':rf��^r .
<br /> �, � � ,_� payments.whic�aze tefetsed co ia Fara�h 2,or chan�e the am,auni of such payments.� Any excess p�noeeds aver an ►�,__ �
<br /> �: ;;L-., azaouat teq�ne8 tq PaY all outstaa ' _.
<br /> + • rt � ;. . dmg inde6r�dness under the l�tote�d this Sec�iry Ins[ntmeat shall f.+e paid to the entihr �,-�x.n,.....e �
<br /> ,` : le�a1ly e�i@ed�b.e�e% ' ._
<br /> �.a_ . ':'� ' , 8. Fees. Lender may collert fees and charges autttorized by the Secretary. ` ��;�, �a��-
<br /> 1 ., . � ; 9 Grounds for Acoeteration of IyeD� ` . �� — —
<br /> r ' , . i�)DefanlG i.e,nder may;except as limited by regutatia�s issued by the Searetary ia the rase of payment defauits. :',�c�,�'�' -`_
<br /> .� x�:.� � . requirE immediate payme�in full of aU sums secu�ed by this Securiry tnstiument iF � .�� t �
<br /> ,- �. (ij Bornnwer defauIts by failing to payr'in Po!1 any rrtnnthlY PaYm��N�bY this Sezurity tnsuunnent prior - ' � . , �,a _ '
<br /> � .. � tQOr on the dae date of the next moashl a e or • �- ` ' ��°
<br /> YP 3+m nt, . ,_ `_r��. .._
<br /> ,-- . (ii)Bormwer defan�ts l ry failing,for a geriod of Wirt�days,to gerform any other ohligations conrained in this �"�°;~ � ''�-`=�
<br /> - - , Secroi►ry Instaument � ,s...s-_"�'`�-r-
<br /> (b)Sate Ridthout Credit A rnval. I.endsr sha11,if ; _
<br /> • PP permitied by applicable iaw$nd with the prim approva!of the ;���,� -"
<br /> ` Sec�eta�Y,�uue immediate paymern u�fu12 of all the sums sec�ued by this Security Insavment iF L . �,�-
<br /> ±. ` '` ' (i)AU or p�rt of the Av .or a beneficial interea-t in a tzust owning all or part of the Pmpercp is soid or • --� y
<br /> ��� � + .�-.:•..xtzM.,���,.
<br /> r ,•..,_. f- ��
<br /> • � otherwise tran�erted(other by devise or d�sceat)by the Bormwer,and �.�w�.�4;s.'�r�-
<br /> ' _ �' � (u�The Property is Qot occapied by the purc�aser or grantee as his or her principa!tesidence,ar tt�e
<br /> pmchase�r �
<br /> ' ,, or grantee does so occapy the PtopeRy but his ar her credit has not beea approved in accordance ' �" *-� �" � w`--
<br /> . , , with the reqnicemeau of the Secretary. �;�r_���_-=
<br /> _ - � (cl IYo�Paiver. If cmrmnsmnces occ�u ti�at would petmit I.euder to reqaice imm�ediate paymeat in fult,but Lender —_--__--------
<br /> �;�.' does aot require snch payments,Lender dnes noi waive its rigfits with:espect to sabsequent evenu. � ""�—�.�_��__�=
<br /> --- (�R e g a i attons af HUD S I n m a n c' ;r:-
<br /> j � ' - ��9• Y u r a m a t a n c e s r e g u l a t i o n s i s s u e d b y t h e S e c r e t a ry w�l l i m i t L e n d e r's
<br /> . . . '. . rig6ts,in the case of payment defaults. to reqaire�ediate payment in ful!and forectos� if Qot paid This � �.��='-=_�--- ---
<br /> _ . ` ;�. .. Sec�airy Instrument does not authorize acceterntion or forectasur�if nat permiued by regWations of the Secretasy. --- ----
<br /> �:.:,.-._�-a.-.='_�.—_
<br /> � ,�.� - (e)Mortgage Noi Iasored. Borrower agrees that should this Secariry Instrument and the note secured thereby not �:`=
<br /> � ` , be elig[bte for insutance under the Nationa! Housing Act cvithin �� �`w=�°----
<br /> E . . daLe heteof,I.ender may.at its option and natwithstandi�anything in I'a�ra��require immediate pa����ia� ''-.A��,2
<br /> � full of all sums secnred by this Security lnstnunent A wriuen statement af any authorizEd agent of the Secce��zg' �
<br /> '`� "`'� dated subs - ~ -,
<br /> .. . . ..... ._. ._ .. . _.eguent to. .8... �_y' . ._ . from the date�hereof,dectining-tainssare-this'S �. - �- - -- n y ,�y,,���,�
<br /> t 'n
<br /> Y� � Insnmment au��e note secure.�thereb shall be deemed conclusne proof of such ineligibility. Nonvithstutding ::��.------
<br /> ": the foiegoiva,r�is option may nat be exenised by Lender when ir�unavailability of inswance is solely fiu:to �':' �--����- —
<br /> ?� • , Lender�fa�.'`�to remit a mortgage ins�rance piemium to the Secrets.ry. • . � --�--- -
<br /> .. .� .._.' - 1Q._Reinstatemen� Borrower has a rig6t to 6e reinstated if Lender has required immediate payment in full because :':_-�
<br /> . , _ of Bairawer�s fa�are to•pay an ariiouni dae under tfie•Note es c�is Security Instmment This nght-applies-evea�ar�r � -
<br /> . • � foiecIo�te proceedings are institu�ed, To reinstate the Secer�y Insqument,Borrower shall tender in a tump sum a�. ,�:�'. r�':;
<br /> . �• � . amounu requimd to bring Borrowet's account anr..�t in�lnd'usg,to the extent they are obligations of Bormwer under this ���;":
<br /> , • .. Securiry Instromen�foreclosure wsts and reasonab�and customary auomeys'fees and eapens$s properly assoceated with �
<br /> . .. . the fo�closure proceeding, Upon reinstatemem by Borrower,t?�is Security Ins�ument and the obligations that it secures , .` °� �' ":-
<br /> - . sh�Ia remain in effect as if Lender had nat re.�uired immediate�.=g�ent in fu]l. However.Lender is not required to�m `'}
<br /> � 're i n s t a t e nient i F (i)L e n der has accepted reu�statement after��commencement of finectosu�e pmceedings witivn ta-� �� •r'
<br /> ••;•�,` `: ' yeais immediatelY preceding the commencement of a currer.*. ?oreclosure proceeding. (ri) eeinstatement will praclude � •�
<br /> fomctosure on diffecent gronnds in the future,or(iii)teinstatement will adver,eiy affea the prioriry of the lien created by .�'- ,
<br /> ,. ttq3$CCU!ltS/Inctmm�-r . �
<br /> , 11. Borrowe�33i fteleased; For6earance by Lender Not a Wa:-s�: Extension of the time of payment or �
<br /> . : modificaGion of amort¢arion of the sums secured by tflis Security Inswment granted by l.ender to arty successor in interest "
<br /> , of Borrower shall not operate to release the liability of the original Borrower or Borrower's successor in intemst Lertder -;�,,'
<br /> , shall aoi be m.c�uired to commence proceedings against any successor in interest or refuse to extend dme for payment or '. '.�+
<br /> ,, _ - . otherarise modify amortization of the sums sectued by this Sec�uiry Insmiment by reason of any demand made by the ' ' '° �
<br />_ , original Hormwer or Hor�ower's saccessors in iateres� pny forbearance by I.ender in exercising any right c�r remedy shall ��- °"�
<br /> , . not be a waiver of or preclude the exercise of any rigt�t or rem .��•�=��-
<br />- � �.�`�. 1Z. Succcssors and Asstgas Bound;JQint and Several�iability;Co-SJgners. The wvenants and agreements ef � : •��'��'�� �
<br /> �� ' this Seourity Instrument sha11 bind and benefit the saccessors and assi ' .
<br /> _ . ��.., .• ' gns of Lender and Borrower,subject to the provisic�s •
<br /> .-- _����;�:;;.,. ' of P�ragraph 9.b. Borrower�s covenants and agreements shall be jmnt and severat. Any Borrower who co-signs thi; � �� '��'�i����
<br /> '�. ' �`� ' Secunty Instrume�nt but does not eaecute the Note: (a)is co-signing tl�is Security Instrument only to mortgage,grant and � ''��j';:.�'� ,��-
<br /> R . canvey that$omower�s intecest in the Property under the terms of this Seciuity Instrumen�(b)is not personally abligated to f' � - �q:r'
<br />,��,.:,' . ' pay the sums secared by this Security Instnunent;and(c)agrees that Lender�rcd any other Borrower may agree to extend '' . ;` ;p fc�;r:' �
<br /> � .. modify,forbear or mzxe any accommodations with regazd to the temis of this Secarity Insuument or the Note without that '� ��l •S;
<br /> �' . Bolrower�s consenc. •.",,•. • .
<br /> ' 13. NotIees. Any notice to Boscower provided for in this Security Insnument shall be�iven by delivering it or Lry L� �'-
<br />-��;' •. � . mailinS n by firsc class mail unless aaplicable law requires use of another method. 71►e notice shatl be directed to c.�e ` �'�
<br /> �-- .' . • � Ptoperry Address or any other address Borrower des�gnates by notice to l,ender. Any notice to Lender sh�ll be given by [ � �•.. � -
<br /> fiist dass mail to Lender's address sYated herein or aay addiess Lender designates by notice to Bonaa�s: My notice � �
<br />.-:,� :... . provided for in this Security lnswment shall be deemed to have been given to Borrower or Lender when given as pr+ovided � . ,4:
<br />-_.�.: , mthisparsgraph. , � . . r
<br />'-.-.�`�i�, ''. !4. Goveming Law;SeversC:c�ity. This Security Instn�r:ent shall be govemed by�edera!Iaw and the law of c�;e ' --
<br />_•� . : '�'�'i� ' jurisdiction in wiuch the Property is tocated. In tfie event that any provision or clause of this Security[nstrument or the - :
<br /> . . Note coMicts with aprscable law.such conflict s?sall not affect other provisions of thls Secwity Inswraent or the Note +
<br /> which can be ven effec.t without the confli n � `
<br /> ; - I V o t e a r e d e c l a r�e.d t o b e s e v e r a b l e. �°F'°�sion. 'Ib tk:s end the p:ovislons of this Security insnvment and the ' " � . .
<br /> ' . 15. 8orrower's Copy. Bormwer shall be givert one confcrmr.d copy of this Securiry Insuument f .,
<br /> � ' " 16. Ass}gnment of Rentv. Borrower uncanditior�ally assigcs and transfers to Lender all the n�nts and revenues of s�e � �
<br /> t,.; � ; Property. Borrower authorizes Lender or Lender's agents ta eollect the rents and revenues a n d h ere by d ireccs esc h tenant o f • �
<br />'i_����'� , the Prapetty to pay the renta to Lender or Lender's agents. Howevet,prior to Lender�s notice to Bomacx�er of Bonower s � � �
<br /> -; � � . bteacb of any covenant or ageement in the Security Instrument,Banower shall�collect and receive all rer.ts:nd revenues of • xV
<br /> the Property as trustee for the benefit of Lender and Borrower. ThLs assignment of mnts constitutes an absolut�e assignme��t '`
<br /> �� �� � • artd not an assignment for additiona!seciuity only. �`',�'.
<br /> ��- � t� � If Lendet grves notice of breach W Bomnwer. (a)a�l rents ceceived by Borrower shall be held by Boirower as ttustee
<br /> �� . .. for benefit of Lender only.ro be applied ta the sums secured by the Security Instnunent;(b)Lender shall be entided to �
<br /> `-� � , coltect and receive all of the rettts of the Proyerty;and(c)each tenant�f the Ptoperty shall pay a1I rents due artd unpaid to � �
<br /> � Ixn¢!r or l,enderk agent on Leaderb written demarcd w the tenant ' � '
<br /> .:� � �%�orrower has not eaecuted afry prior ass}gnment of the rents and has not and will�ot perform any act that would � �
<br />- �`' • . pa�went Lender from exercising its nghts aeder this Faragtapb 16. �.
<br /> • . � l.ender'shall rcot be required to ente=upon,take control of or maintain the Property before or after giving Qotice of � '
<br /> b�ch to Bmmwer. However.Lender or a,judicially ap�ointed receiver may do so ut uny time there is a breach. My � �� � �
<br /> . �pplicntion of rents shall not cure ar waive any defaWt or invaltdate any other nght or remed�r of Lender. This assfgnment �
<br /> •• of aents of the Ptoperty shall terminate when the debt sesured by the Secutity Inswment is pa�d m full. � .
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