|
� � � . _ ,.
<br /> r • �. ; . .� , � �"��=��.�,���. `..� � `
<br /> � ` �rir�cipag.� A�Y �PP�cofioo•of th2�;aceeds to tlic �rinctpal�hall na�,extend ar Bastpcme.th�due datc of the moattily
<br /> .��'�;at�.�r�ich�g refe�tY Es�n.par�;tapA 2,o�change the amauat�f sucD paymEbts: Any rxcess gro�eeds ov�r au _ - -
<br /> �t�a�!L�g�y?�l otu�anding Snd;.h���uad�t t�hote s�a�i be p:�d w the eazity te�1ly c:ntitt�ti�ett� . . -.-_- -
<br /> 8. F�es. Leadef may soltcxt fees�nnd c5argcs suthotized b�tha S�retary. ' . < .
<br /> 9 �mnn$s for l�t�on of Debi. . � . . - .
<br /> � .(a)Y y e i t a a d� I.e n d e r ma y,e�o e pt as timite�!b Y fe b"��ons issued hy the Sesretar�+in the cass of pay�est c�fautrs► ��
<br /> tequue iaamediate payment is�fuA of all svms se�ured by this Sec�uiry Insficument ef: . . � � '.
<br /> (1)BflifOVlCI tLEg3UII5 QfY f3Tffi�uF E)3y in'fit!!aay mnnthiY PaY��4�bY this Security L�swment�riar
<br /> � ta or on�due date of the next monthtypaymen�ar ' ' � � --
<br /> (n7�arron+er defaults by fa�ing,for a p�aiod of tPurty days.to pedorm any other obligarions oontaicied in this �
<br /> • Secutity Instsument. ,
<br /> _ (b��ate�ii�nut C�it�proval. I.end�r sh�1Z,if p�mi�ted by appli^.4k+t,:Iaw and with th�prior approvat aEdie : -
<br /> S��Y•�l�i�media��aYme�t�in fall of ait the suuis secured by thiS�Seettrit�t In�n.°at ifr. , .,..�:
<br /> � (i}E�11 or part of tfle Praperty,ar a`beneficiai uit�sest in a:i�ti,�ovrnigg all ar pa�+of th�•�►rop�sty,is.sold ar �_;c,.•,:.
<br /> t�;�:.•�.
<br /> . a���uansbersed(otber thaa by devise or d�cent)by��`4�:l��Sw�a'•aad � i:}�=:c:, -
<br /> � .��i.�'n:�i,.,; .�,��i$.apt acwpied by the pu�hasei or..�Si�:�i���a::�,rin¢is�al resdence,ar the purcl�es , -_
<br /> ��`�`�s"'�� :4��!�:�aPY the Property 6nt ��' lyc�r c�,�.�_,'�;:3a�f 6�en appmved in aczardauce.
<br /> • °. �11�1��IIts of the Secnetary. ' '
<br /> � (F)l�f'37'f�t�: If•circom�ances navr that would�perffit Len�sEo•iequire immediate payment itt fiiD.b�LeIIder
<br /> • . does not�quire such paymenLs,Lendet daes not waive its nghts�nespect W subsequent events. �
<br /> . , tcp Regu3at�ons of Rl1D Se�x+etar9. Ia many ci�umstanc�.s regutations issued by the Secxetary w�l Wnit Leader's .
<br /> righu, in the case of paymeat defanit�. to require immediace payment in,full an�4 foredose �f not paid. 7�is
<br /> Security Instniment daes aot aathorize atceleration or foreclesure if nat pemuued by regularions of tiie Settetary.
<br /> �e)Mort�ge t�Iot Yasat�d. Borrower agrces that shcuId thi�Security Instrunsent and the aote secured thereby not
<br /> be eligibIIe for insurnnce art�er the Yation�S Nousing Act within 8 tt,g , from the ,
<br /> . du�fierwf.t�endc�may.us its option.und aonvithstpnding anYU�ioB in P�a�r���require immediate payenent ia �
<br /> fuU of ult su�ns wccurcd by thxs S�curity Irtstrumcn�.A�+rtitten stsstemcnt of aay autiwrized agent af the Scsretary ,
<br /> dated subsequent to � • from the d�te hereoY.dcclining to insure this Securicy
<br /> I�sWment and!he nate s�urc�t erc�y.sh�)1 be deemeA canciusive proof of such ineligibiGty. Not�vithstanding
<br /> • thc foregoing. fhis aption may not be exeticised by Lender when the unavailability of insurance is solely due to
<br />= l.cnd�s i�ilure to remit�►mort�ae insurance premium w the Secret�ry.
<br /> 10 Reiaslafemea�.Bonower h�s u risht w be reinstated if Lender has required immcdiate payment in full berause of
<br /> Horcow�r's failure to pay�n nmount dae under the Note oc thic Securiry In..�ument This right applies even aft�r fareclosure
<br /> proccedings are instituted. To reinstate tite Security Insudment,Borrower shall tender in a tump sum all amounss required to
<br /> bring Bdnowe�s account cusent including,to the extent they are obtigatios�s of Borravrer Under this Securiry Instrumen� ,
<br /> foreclosure.costs and reasonabte and customary�attorneys' fees and expenses propeciy assaciated with �ce forectosurz
<br /> proaedin�, Upon reinstatemerit by.Borrower.this Security Insnumeat and the obligations that it secures shafl remaitr w
<br /> . effect as if Lesde�had not rcquired unmediate payment in full. However.Lender is not required to pennit reinstatement if:
<br /> (i)Lende*has acx�pted reinstatement after the commencement of foreclosure proceedings withia two years immediately
<br /> preceding the commencement of a eurrent forecloswe proeeeding,(u)reinstatemenc cva�.l preelude foreclosure on different
<br /> grounds,in the future,or(iii)reinstatement will udversety affect the pnes:�.y af the lien created by this Security Instrument.
<br /> 11. Borrower Not Reles�sed; For�eacauce 6y Lender 1�Sot � �'Yaivee Extension of the Eime of payment or
<br /> madification of amorti�abon of the sums secured by this Security Instru�-�.nt granted by Lender to ar.y saccessor in interest
<br /> of Barrower shaU not operate to reiease the liability of the er.��inal iiorrower or Boaower's successor m interest L.eeder
<br /> sh�Yl not be required to commence proceedings against aa���r�..�i,..�sor in interest or refuse to extend time for p�y�r_ent or
<br /> othe�wise modi£y amortizadon of the sums secnred by tIiis 5��.*-sg• Ic*.�..wment by reason of any demand made by the
<br /> ario nal Borra�ti�cr Banawer's sucec�ssors in interest. Any�c�s:��hy Lender in exereising a�y right or remedy shall
<br /> ' not.be a waiver e�or pieclude the exercise of any right or rernedy.
<br /> l�. Successo�s and A�?�ns Sflnnd;Jolnt aad 5everal II,c��.���ZaSigrteis. The covenants and agreements of this
<br /> S�:usit�,r Instrument shall 6ir�c�:nd benetit the successor�and assi�ns of Lender and I�onawer.subject to the provisions of .
<br /> P��rugraph 9(b). Boisower's covenants and agreements shall be joint and several. A��y Borrower who co-signs this Security �
<br /> Insnvmenc but does not execute the Note: (a)is co-signing Nis Securit}�nssrument�rly to mortgage,grant and convey tf�at •
<br /> Bonower's interest in the Property under the tcrms of this Security instxzar��(b)is nat personally obligated to pay the sums
<br />- secured by this Security lnstrumen�and(c)agrees that Lender attd an5-eci�`r Borrower may agree to extend modify,forbear
<br /> or make any accomrnodaddns with re�urd to the tcrm of this S�curiy lnstrument or the Note without that Ba*rvwer's
<br /> ca�n� —
<br /> 13. Nottces. Any notice to Borrower provided for`��.�zis Securiry lnswment shall be given by deliveri.-.i:2 or by
<br /> m�::irtg i�by first class mail unless applicab2e taw requ�.-::.�u5e of z.�other method. 'fhe notice shalt be dirc�:� to the . _
<br />° Properly Addresc or any other address Borcower designates by notiee ta 1�.:.�der. Any notiee to l.end�shall be given by'Fust _-
<br /> class mail to l.�nder's address slated herein or any addre.FC Lender�e>:r;;,.�tes by nouce to Borrowea, Any not�ce piovided M
<br /> fet in this Security Inswment shall be deemed to have hs�givcn ta�orrower or&�nder when given as provided in this �`
<br />= g�u�:�apt�. � � P�
<br /> u ;�
<br /> 14. Governin�•Law; SeverabiUty. This Security i;��r3ment�;ha11 be govcrned by Federal la�+ and the !aw of the . __
<br /> jurisdistion 9n�vyich the Property is located. In the event�.��z-sy prove;:an or clause of this Security Insuument or the Note j�
<br /> . eonflicts with��f�eable law,such conflict shall not affect u:.`,�rroz:�sca:s of t�is Securiry Inswment or the Note �vhich ean �;-
<br /> be given effect without ihe oanflicting provision. To this�-�3 tne pratiisions of this Security lnstrument and the Plote are =
<br />- declared to be severable. . �
<br /> l5. Borrower's Copy. Boaowcr shalibe given one conformed copy of this Security Insvument.
<br /> 16. Assignment of Rents. Barrower unconditionally assigns and aansfers to Lcnder nll the rcnts and revenues of the
<br />_ Property. Btircower authorizes Lender ar Lender's agents to collect the rentti and revenues a�d hereby directs each tenant of
<br /> the Property m pay the rcnts ta Lender or Lcnder's agents. Howcver.prinr to Lender's nouce to BoROwer of Harcowcr'ti Y
<br /> breach of any wvenant or agre�ement in the Security Insmimen�Borrower shall collect and receive all rent�:uid revenues of r
<br />= the Properry as wstee for thc benefit af l.ender and Borrower. This assignment of rcnts coastitutes an absolute acsignment !
<br /> und not an assignment for udditional security unly. �
<br />- If Lender glves notice of breach to Bonower: (a)all rents reccived by Borrower shall be held by Borrower as trustce
<br /> - for bene6t of Lender only. to be applied to the sums secured by thc Securiry instrument: lb)l,cndcr tihall bc cntiticcf w
<br />� collect and receive all of thc reht,c of the Property;and(c>each tenant af ihe Property shall pay all renis due:u�d unpaid to
<br />_- Lcnder or Lender's agent on Lender s wriuen demand to the tenant.
<br /> = Botrower has n�t executed any prior a�signment of the rents and has not and �vill not perform any act that �vould
<br /> - �S�vent Lender from exercising its rights nndcr this Paragraph 16.
<br />- Lendec s?�all not be rcquired to enter upon,take conuol of or maintain thc}'roperry before or after gi�;r,y notice of f
<br /> �;:::h to$�cm:wer. However.Lender or aludicially a,,�oir.ted ro.a:i�wer may do sa at any time there is a L.�each. Any �
<br /> - �;.piication of t�rtts shall r.c=,care or waive:my default c7r ir.:2lzd,te z��ot.':er ria(:s ar r�e�y of 1.�wL:r. 'il�is atisignment of
<br /> - r:nts of the Property shall:�-�ate when the debt scx:::v3�`sy�e 5ecurity lnsvur�cns.i�paid in fu:}.
<br /> _ � i
<br /> _ - --- - C .
<br /> - • f page 9 uf 4 pagrsl • I
<br /> � , i
<br />
|