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<br /> ;� �� . :r , . ' payments,which are teferred to in ParaB*aPb 2.or change the amount of such payme��e�iuYshall tre paiF d�the enuty :
<br /> amouat r�to pay all outsranding'sadetttedness under the Note and tbis Securcry ._ f y.�,�t�
<br /> �, . . . te�atly e��ti�emzo. �authorized by the Seccetazy ' " ��`�_ _
<br /> � 8.Fees. Lender may collecc fee.s and c�ar� '� � �
<br /> "w°• , � 9. Gra�ands for Acceieration of Deb� °``�'``� �� �.
<br /> � • ons issued by�he SeccetatY in the case of payment defauits, k:i, �„� :_
<br /> . (�.f, � (e)Defaai�. Lender may.except as limited by=egul b this Security Instniment i� �
<br /> ulati
<br /> , , g ��iate paynnent in full of all svsns secuaed Y �b this Securiry Instnmtent prior �_`��+,;�
<br /> , �� to a in fuU aay montiily paymert re.cl Y : J fi;� �,�,,
<br /> . - (i)Bur�ower defaults by failing P y .
<br /> - � ro ar oa the due chtc of the uea�montt►Iy payment,or ������� �... ��� -
<br /> .. , S)���y�eII ts by fa�7ing,far a penad of tiiuty.days,to�erfmm any other obiigati �ti"�'"���`
<br /> � ued by applicable law and with the prior aPpi°�1.°f the � r„ -�-
<br /> . . - '{G)Saie�Pitlsont C�ii APPrnva1. Lender shall,if Permi �Security Insuument i� • �- — --
<br /> . SecietarY,requise immediate PaYment in full of all the siuns secured bY att or of the PropertY.is so2d or ----- --
<br /> - r)All or part of tlse Property'or a benefrciat interest in���g� P� = _-� --
<br /> , � :. otherwise tcansfeaed(oth-er than by devise or desc�nt)bY t e e a s•his or her p r i ncipal msidsn�e+or the purchaser .
<br /> - _ • � (u)The Pc�p�Y is no t a c c u p i e d b y t h e p u r c h a s e r o r g r a n v e d im a t x o r d a n c e ,
<br /> - �' • or gtantee d� so oocupy the FropertY but his or fler credii has not 6� apPm ��
<br /> . • �• `` • with the requuements of the SecretarY• � t�n fuU,but Lender —
<br /> w. � ,
<br /> _�; : .... (c)Nv N►sives. If cmcusnstances ocac�u that wonld petmit Lender �to sabse�3ueat�ev�ents.
<br /> ''��'� .,. '� does not require§ttch payments,Lender daes nat waive its rights ons issued by We SeaetaiY will limit Leadea� _
<br /> • (d)RegalatIons of HUD Secremr9• In�►Y circumstaaces regulati ent ui full and fore�:lose if uot paid This .
<br /> . : . . rights,in the case of payment defaults,to cequ�re immediate Paym ons of the 5�et�Y• --
<br /> � � �y�eat does not authorize acceleration or foreclosare if noi permiued by teS�ulati . —
<br />_ ` � (e)M o s�g e N o t Insutet�. Basower agcees chat shauld this Sec�itl+Insaumeat and the nute aecated di�y� �
<br />- . '... .. � be elig�'ble for insutance under the Natioaal Housina Act wi t h i n 8 �t� uire immediate paY�aent in —
<br /> . .r, , : , . '
<br /> � � � - ' d nota+ithstanding anything in Patagtap �4
<br />_ .:._,._. ••. � .... . .. -date-hereof,-I.ender-may,.at�t�opt4oa an---.-- �the�Secre ------.._.- ---
<br /> ------. ..—;-- . .. tof �Y�
<br /> ..__.......�--- ....._._.._ uthorizedageu
<br /> . f3 ,,: �'Wl of all sums secu�d by this Security Insaumea� A vuretten statement�af�ny-a to insure this Securiry __--
<br /> '. ,� dated subsequent to 8 t�S from the date hcreof,declining —
<br /> ' •"" t Insuumeat and the note���bY•S�1'be deemed conclusive proof of such ineligib�ity. Nutwit�anding —
<br /> the foregoing,this option may not be exercised by Leader when the unavaila6�7iry of insu:ance i%sotely due,to __
<br /> � � � ._ . . ` ` . _ Lender s failure to remit a mo�tgage insurance preauum to�he Secnetary• � �.�.v.
<br /> . . 10. Reinstatement. Borrower has a right to be reinstated if Lender has required immed'iate payinent in fuU because ,
<br /> � Instrument This right ap�lies even aRer �
<br /> • � C� ' - � of Botrower�s fa:lure to pay an?mount due under the•Note or this Secwity 1.,.
<br /> . . foreclos�ue proceedings are insntuted. To reinstate the Security Insuument,Borrower shall tender i�.a lamp sum all
<br /> - . --- - amounts reqaued to bring Bmrower's account current including,co the extent they are obligaiions of Bor%er��� _;r
<br />- � ' . ' Sec�irity lnsuumen�foreclosur�costs and ieasonable and customary attomeys'fees�and d�e bUg��o�ns�t it sec�ues :.�..-
<br /> ' ' the foreclosure proceedinS• UFAn rcinsu'�enf by Bomoaer.this Security lnmum
<br /> r • ' sha11 remain in effect as if Lender had not reyuired irna►ediate Payment in fu11• However,Lender is not required�pe�i�t
<br />' ' reinstatement i� (i)Lender has accepted reinst�xement after the commencement af forecllo�pr�t W� �Iude �
<br /> . . : � . ' yeazs immediately preceding tt►e commencement of a current foreclosure proceeding• C�) •�Y .
<br /> - �-- '` �;- --�- -�-� forectosure on different grounds in the fuwre,or(iii)aeinstatement will advetsely affect the priority of the lien create�hy �
<br /> . �,." .. this Security[nswment. �'••=+�
<br /> � � '" � 11. Borrower Not Reteased, Fosbearance by Lender Not a Waiver. Extcnsion of the time of payment or
<br />- � _ mod�ficauon of amno�rate to reiease ti►e I�ia�bil ty of tiie ong aal Borro ev�o�r Borrower�u¢cess r�n inte�r�st. I..endert ,•. .� .
<br /> - ',. . of Borrower shall pe a�ns�any Saccess�r in interest or cefiue to eatend ame for payment or `
<br /> ' � shaU not be re�Nired to wmmence proceedinP,s a8 •�--
<br />� , ' . ' . � . otherwise modify amartiiarion of the sums secumd by this Secunty Instniment by�eason of any demand made by the • ��F.---.�:
<br />�i Lender ir:exercising any right or remedy shall ;�:�-
<br />-y, . . originai Bmrower or Borrower's successors in intares� Any forbearance by . , .:
<br /> � : •� not be a waiver of or preclude the exercise of any right or resnedY. ;.'�;: � �
<br /> �` �� 12. Succ�'sors and Assigas Bound:]oint and Seve�al LiabiIIty;Co-Signers. 'Ihe covenanu and ag�eemenu of r�-�:
<br /> �3�:
<br /> ` ... this Security insunmeni shall bind aad ber►efit the success�o�h�d be�o!�t and severala BMy Borrower who co-n�'�ns t1►ig ' - .
<br /> . .� of Yaragraph 9.6. Borrower's covenants and agree 7 e, t and -.
<br /> �, �. .� �._ gecvrity Insuument but cices not eaecute the N�tder the�terms o this Sec nty ins�m►m m (b)is n t Personal�Y°b���to � � .`�� ;•
<br /> � convey that Borrowet's interest in tlie ProPertY . ,�,� -:
<br /> .. � •: pay the sums secured be�is aCeccoummodauonsewi red�gard�°t�he terms of thi Sec nty Insrtrument or the Not�tthout that .. ,.. •
<br /> � modify.forbear ur mak Y • ..
<br /> - � • " � - Borrower's consen� � - .-
<br />. . �. .. .. 13. Notices. Any notice to Borrolicab�law�d fo��u e of ano�er�od.5'1he nouce hall be�Vdimcted t ithe ,
<br /> `. . mailing it by first class mf►il unless app' �1 . . ,
<br /> m►i
<br /> ,, property Address or any other addiess Borrower des�gnates by notice tv l.ender. Arry notice to Lender shali be given by
<br /> � � first clas fam nl�S�ty�d�e�t��,�deemed io havesbeen given to�Borroweryor Lender when given as pro id d • .
<br /> £ : . . . . - - provided
<br /> , . • in this paragraph. �
<br /> 14. Coverning Law;5evera631lty. This Security Instrument shall be govemed by Federal iaw and the law o
<br /> ' ' ' jwisdiction in which th�i�tpel a�sach c�anflict ha11 not affect o�elr prov si ns of this Sec�uriry[nstrumeat o ethe Note �
<br /> Note conflicts�nth aPP �
<br />- � • which can be given effect without the conflicting pmv�sion. Tv this end the provisions of this Seeurity Insuument and the
<br /> � �• Note are declared to be sevetab2e. � .
<br /> � � 15. Borrowe�'s Co y. Bmrower shall be given one conformed capy af this Security instrument.
<br /> � � ' 16. Asstgnmeat of�enfs. Borrower uncondiuonally assigns and transfers to l.ender a11 the rents and r�venues of[he I .
<br /> ` . . _ . pfroperty. Borrower authorius Lender or Lender's agents to collect the rents and revenues and hereby directs each tenant ot `
<br /> : -.,- the F�perty tco enant o�r a�tom td�n the S�u"e ry Inseuument�Bortower shali coilecpt and receive all rents and re enues of � .
<br /> � brcach of any � ;
<br /> ' ' . �he pmpeRy as wstee for the benefit of Lender and Borrower. This assignment of rents constitutes an absolute assi�ment
<br /> • � ' � � and not an assignment ior additioaal security only. •
<br />- � � ' • If Lender gives norice of breacb to Boirower. ta)a�l rents receivcd by Boiro�ver shall be held by Soirower as trustee y
<br /> •� for benefit of Lender on1y.to be appfied to the sums secured by the Secunry��uumh��l�y�,°�nu due and unp d to
<br /> •� coliect and receive all of the rents of the Pfroperry:and(c)esch tenant of the P1ro rty p Y :.
<br /> ,� L,ender or Lender�agent on Lender's written demand to the tenant. � .
<br /> � - :. , - Bormwer has nat executed any prior ass�gunent of the rents and has not und will not perfoim any act that wouId
<br /> _ � � ' • pcevent Lender from exercising its righu ender this P,uaF,r�Ph 16. .
<br /> � Lender shall not be cequired to enter upon.take control�f or maintain the Property before or after giving notice of
<br /> � bresch to Borrouer. Howevet.Lender or a�ud�ciaUy appointed rueiver may,do so a�any time there is a 6reach. Any
<br /> • � ,� .:" . � ofprents uf the Propercy shall t munate when th Qe6t secured byhe Secuniy fn r�umenrem�d in fullder. This assignment
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