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<br /> . - -- —__-_ __ '_-_- ---_-
<br /> �—. ..___ _' ___ --'�'-�_`�_--..__..__.__'_ . _- _. ._._- - '—_ — _ — -_
<br /> . �^ �— .C --_ ,,� - _-. __-_-. -�_ _—. _..� . —_ � ` ., " .--_
<br /> : . .. : < ' �+�.5--1��.� " ------
<br /> � � �n licarion of the_proeeeds [o�e principa� sha]I aot extcnd ar postpune the due�of_the crr.o*ethJy _-------—
<br /> ' � . p �P�- � aAF ovet an -
<br /> ' �ya��cs.r�Iuc�as�m,�errec4 to in Fa7agraph 2, ar ch�s�e the amnvnt of such payruen�s. Any e�eess pmc�eds . ---_
<br /> . . � a�tount�e�vir�c��Saj,a!1 wusCaa�ina indeb►�ess uadet ttte Note shall be paid to the enset5+t�aliy er.tiQed iherem.- --- - --- _
<br /> , �. �ees� 18nder may wllect fors und sharges�uthoYUed by tRe Secretury• — - - --
<br /> � � 4 GmaadgYor�4eo�iern!lo.aof bebt, . ' -- -------
<br /> � �s�)U e t�u i�. �a�'c r m a y.e x c c p t�s.s t i m i t e d b y r e g u l 3�o n s issae4 h y the SecretarY in the case of payment defaults,
<br /> r�quire immediate paymsnt in full of cslt sums sc�cun�.by�lt�Sccuri4y instrutncnt if: ___
<br /> (i)Bqrrowcr dsfaatts by faiting to p�y in full nay�nflnthty p�yment ccquired by this Sesuciry Instcum�nt prior ______ __W_
<br /> � eo af dn the due da2�of the nenc monNly payment.or � � � -
<br /> ' - (ii)Borruwer defl��ilts by failin�.for a penad of th'�ciy days,ro��'arm any othcr nbligationa coatainod in this ��_�_�__
<br /> _ _. SECttiif.�Itt51Ttl+�l!'fi1.= �` _= -
<br /> ' � (b3�AIe Witha�t Cr�tSit AQ�mvel. I.eniier shaA.if peanitted by upplicable t•rw and cvith tBe prior agpsovat a€dte � .� -.-
<br /> �ccctary�roquire immediate payn:cnt ia fu91 of all the satns secured by tWs Securiry p wment if: �s sold or "�'���=-` � -
<br /> � � • (i)Ail or�R.of the PropeMY.or a bcn�c�al iaterts�i in.a wst owning�Il or �r�t of the Props4ty.' _-_--___
<br /> � ' ' oih�rwise transferred(o t her t han by devise or d e sc e n t)b y t�h e B o r r o w e r,n nd -�----
<br /> . t��,��J��M��t�y�he p u r c h a s c r or�rantee as his or her principal resictenc�.or tf►e p�u�chaser _ ----_---
<br /> � or grantee do�c so,occuQy tt�e Pmperty 6ut his or her �t has, not been a�►proved-�a�or�or =__—__--—
<br /> with the ceqniraments of the 3ecr�taiY• ------
<br /> ` (c)No�'Y a iver. I f cir c u m s t a nces o c e v r t l�a t w o u t d p e r m i t L e n d e r w r e q u i r e i m m e d i a t e p a y r g t e nt in full;but Lender , —
<br /> � does not tequire sush payments,�nder does nat waive its nghts with respect to subseguent events. _— — _ _
<br /> (d�RegalaYWas ot HlID Ses►�tury In ma�Y�ces segulations�ssued by the Secretar}+will timit L�ndet s =_____
<br /> � • � eights. in the case of payrmatt defaults.to require immcdiate paY�t u� full aad fm�close if not paid_ This -___---
<br /> ge�.vsity l a s t t v ment dfl�s no t au t ha r i z e a c ce T e r az i a n o r f o r e c l o s u r e i f nat p e r r n i tt e d b y re g ulations of the Secretary. m=_
<br /> � . (e)Mort�age Not Insae�. Bosrower agees that sliould this Security Inst�it e���t�►e nqte secured there6y not ��
<br /> � �6e eGgible for insuiance under the 1Vutioaal Housmg Act within from the R—___=.
<br /> date hettiof.Leitder roay.at its option and noiwiihsta�ding anythiag in Pamgraph 9.require immediate payment in �-----
<br /> ��,.�:-.—�— =.--::-�
<br /> fuII of a]}sums secured by �S InsUvaienL A writY�n statemee�t of any authorized agent of the Secretary � �,�.__
<br /> dated subseqnent to � � , from the date hereof.decl'niing tn insuce this Security --- --
<br /> �;,;�-�___
<br /> � Jnsavmeht and the nnte secured th�ebY,shall 6e deemed conclusive proof of sucb ineGg►b�ity. l�tomriihstanding __ --•_---
<br /> the foregoiag,this aption may not be exercisea9 by Len�er when the unavailability of insumnce is solely due to °---���;_.
<br /> � L,cadd's far�une w remif a[aort�use iQSUranse p�sn9um to the Serretary. "°a�.- _
<br /> 10. Reinstatemen�$otaower has a ri�3itto be re�nstaied if Lender has mquired immediate payment in fuU b�e of �—�=_- -_
<br /> Baaawer's failure ta pay an aII►ount due u�the Note or this Security InstrumenG Th�s right appGes even after forec2osure _=__ --- -_
<br /> �oceedings�e instituted To reu�state tiL:��rity Inswment,Borrower shall tender in a tump sum all amount�r�equired to _ _
<br /> Issa�g 8onowets account cuaent inclad'mg,'to tl��,extect they are obligarions of Bo�TOwer under this Security tasuument,
<br /> fareclosure costs and ceasonable and castomary attor.�s fees ana expenses progerly ass4ciated �vith ther�closure
<br /> prpceeding. Upon teinstacement by Borrower.this Secu.zity Inmument and the obtigations that it secures s�x rrmain in ;�.
<br /> c
<br /> afFect as if Ir�*..t'�i had not required immediate payment in full. However,i.ender is nat required to pem�it reins.w.�ment if: � �t.
<br /> � {i) Lender f�t,;�cepte�reinstatement.afr,�r�'.e commencement of faaeclosure proceedings withln twa Years �mmed'ate1Y: ' :'� ,::
<br /> preceding the c�mmencement of a currer�l`.�-rec�QSUre pmceedinS•��t ���ment will preclude foreclosure on differenc'� ' ' � � u,
<br /> �cunds in t1�e fuwre..or(iri)reinsta�emee>�'�1 adve�se�v affect We priority of the lien created by�:is Security InstNmen� � , :: ;z� 1. A.
<br /> 11. Barrower Not Released; ForLeatance �5 Y.eader Not a Waiver. Extension of the time of paymient or
<br /> r�odif prion af amortization of the sums s�c:.md b;'th.ss 5scurity Instrument grunted by l.ender to any suocessor in interest ;����- _ �-
<br /> of Bdrrower sha11 not operate to release t��:�ability of:he origmal Borrower or Borrowe�'s su��sor in interes� I.ender .',•:••�
<br /> shall not be reqoired to comraence pro�9:+:n�.S against any successor in interest or re fuse to ea"�..4�'d tirne far payment or •:.�i�,�� _
<br /> otherwise modify amora7ation of the �secured by this Security tnsvum.nt•by reason of ac�v demand mcde by the - f���
<br /> original Borrower or Borrowe�s successots in interesG My forbearance by Lender in exercising.nny aght or remedy shall �•F �� ,��
<br /> n
<br /> �#; ' ��.-A-_---�,.��
<br /> cot he a w�aiver of ar preclade the exercise of any right or rcmedy. ,'�;r•',�g==---_
<br /> 12. Saccessoss end A�Igns Bound;Joint and 5evernf LiubDity;Co-Sigtters. Tha covenants and a�em�ts of this• , _.-.����,����;__
<br /> gr,curiry Insunmeat shall bind and benefu Le sasecessssors and assigns of l,endcr and Boao�ti•er,aubjact to tho pruvi�ions of.: r�5��y��:
<br /> . Faragrapb S'�b). Borrower's covenants ar�a:+Y�eements shall be joint zx�8 seveTai.•My Bomaw�er wtia co-signs th}s Security �..---- _ _ __
<br /> � Instrument k�ut does not execvte t6e Note: G.�.is co-signing this 5ecurity Instrument only to mostaa,.�c.smnt and mnvey thas ' . .z.�_Y���#
<br /> �'u�rro�ver's interest in the Prope�y+under the terms of this Security In.swmerri:(b)is not personally obligatcd ta pny ihe sums � • • ,<.;,- _��
<br /> �tre4 by this Secuiity Inswment;and(c)agrees that Lxnder and any other Borrowcr may agree to extend,modify,forbear : .:;,° � .•,��;�z:
<br /> nr make any accommodapons with regard to tt�e term of this Security Inswmcnt ar the Note without thut�Borrower's •, .:.=;;1�,•_. . '<<�M1.�-=
<br /> � ; ;:.•,:;::.f...,._ -
<br /> consent � � t::�
<br /> • 13. 1�I�tices. My notice to Boaa«���provided for in this S�uriry Instrument shaA be�ti:n by deliverin� it or by � � :;i�
<br /> enailin� it by first cl�s mail untess apF°��ble law re��.tires use of another method. The na�a: shall be directed to t�,e .� � •�••',c�.,;r`�.t���
<br /> Qropelcty Addres.s or any vther addres.q Bonower desigezr�by notice to Lender. Any notice to Lender shatl be given by fvs� , �.,°:�.���
<br /> class mail to l.ender's address stated herein or any addn.'ss Lender designates by noti�:ta Borwwer. Any neci�x prov�d�3 ' . ,
<br /> :,,;. .
<br /> for in this Security}nstrament shall 6e deemed to have bccn given ta Borrower ar Lender when given as pm�ided in this• , ':;:,. .�; , . .
<br /> PazegaPh , . . :���h;.,, ..:
<br /> 14. Goveming Lawt Severebil�fy. This Security lnstrumcat shall be govcrned by Fede:al law nnd the law of the �b��. .'�
<br /> � jurisdiction in which the Property is lacated. Tn the event that any pmvision or clause of this Security Instrnment or the Note � .;ji;��;�:..
<br /> canflictc�vith upplieable IAw:snch conflict shnli not affect other provisions of this Security Inswmens or the No:e which can :•��.>.,':,,:
<br /> �given effect without the.conflicting provision. To thi�end the provisions of this 5ecuriry lnstniment and the Note are .: .,.,...�.
<br /> declared m be scverablc. . : ,;,;,1. .
<br /> 1S Borrov�'eT's Copy Borro�ver shall be given one conformed cupy of this Security Inswment. . , '�'�•``��`�..�
<br /> 16. �lssIgnment oi Rents. B�rro�ver unconditianally assigns und transfers to L,cnder all the rcnts and revenues of the � _
<br /> Pcopeny. Boaower authorizes Lendec or Lender's agen�q to collect thc rcntti and revenues and hereby directs each tenant of .
<br /> the Property to pay tha rents to Lender or Iander's agentti. However.prior to l.endet's notice to Botrower of Borrowcr's ,
<br /> hreach of any coven;►nt or agreement�n the Security Instrumenb Borrowc�shall coltect and receive all rents anJ revenuex uf _
<br />- ttee Property as wstcc for the 6encfit of Lender and Bortow�cr. 'ilus assignment of rcn�s canstitute�ti nn abs�lutc as.rigmncnt . , .
<br /> and not an assignment for addidona9 sccurity unly. .
<br /> � If Lcnder grves notice of breach to Boaowcr. (a)all rcnts tcccived by Burru�vcr shal)be hcld by 8orrower ati trustce • �
<br /> foz benefit of Lcndrr onty.to be applied to the sums sctuacd by the Sccurity Instrumcnt: fb) Lcnder shall bc cnutled to . , :
<br />" colleci und receive aU of the rents of the Property:and (c)eacb tenant uf dt�Froprrty sh;il!pay all ren�c due�d onpaid ta . •
<br />= Lender or L.cndef s agent on Lertdct's written demand to thc tenan� . ��
<br /> Borrotiver has not caccuted any prior assignm�nt of the renls and ha.s not and will nut Qerfonn any act that«ould .
<br /> prcvent Ler.der frt�m exercising its ri�hts undet this P:uagmph 16. •
<br /> - Lender shall not 6c reqaired to enter upon,take conuol of or maintain the Property before ar after giving notice of . .
<br /> 6reach to Borroaet Howe►er.Lcnder or a judicialiy appointcd reeeiver may do so at any ume there iti a breach. Any .
<br />�. application of rents shall not cure or�vaive any default or inval�date any other right or remcdy of Lendcr. 'fliis assignmem of
<br />�.� rents of thc Property shall terminate when the debt secured by the 5ecunty Instcument is paid in full. ,
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