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<br /> _ ' �,;;�� �.;F;- principal. Any applic�Uian of the praceeds to the principal shall not extend ar pastpone the dee date of the monthiy - " ` •
<br /> ; •�- r ����: payments.:�iriu�h ane refereed to in Parsgtaph?„or change[he amount of such paymentc. �,ny e�cess pxocecds over aA G `���
<br /> •- tunount req�ired to pay alt outs�a�ui.iag utsiebtedness under.thc Note shatl be a�d to the enti ! ail entilied therew. � p.�:;'� '�' 7�= T���
<br /> #ac�*�Y����'. , . &• F�. Lender m�y codlax fzes a�d char�es authori�d by the Sccrctary. {Y � y � •` �
<br />- - �n- ` � � 9 ��tussvssf�s Acc�lerallo�nf�.bL �
<br />��. ��c � �;t • _
<br /> f. (a)Defanit� t8.n�tcr may,ea�cept�s liiaited tsy�ulations iss cd b the Secr .4 `
<br /> w• � y etary in the ca�e of paymen[stefas�itr•. � �.`
<br /> `��� � , • rcquire immediate payrttcnt in fuli oF ap sums securcd by this 5txusity Insuument if •
<br /> _ _��-�, -�_.f , tif Bomawer defautts Dy failing to pay in ful!any monthty�ayment roquired by this Serurity[mwment ptior ' . .; ` . -
<br /> to ar on the due dat�of the ncxt manthly Paymerae,or • y s •
<br /> t,. ��. , '. •. '
<br /> -,;: .., . , , . _
<br /> =' �' � �� '� � � (ii)BoROtver defaults by faiUng,fos a period of thirt da t to crform un other obU auons contained in this �. ' :�f . ��°�:,s.���'
<br /> ^�_-��`���t:��'t��:'�• Setutity In.�ErumeaG y y" P Y S , , �
<br /> _ ,���. � (b)3ale Withottt Cred�t ApprpvaL I,etldc.�shall.if prrmitted bY apPlicable law artd with tfte prior apgmval of the - -_
<br /> - 4�.'{F¢� t; ;,� Secretary,reguir�e irrunediate payment in fuU of all the sums secured by this Securiry Instrurrtent if: ....�.��r � ;. .� , ..
<br /> _ �°���-.r•:= `f, :,• (il AU or part of ohe Propeny,or a 6eneficial interest in a trust a�vning all or pars of tfie Property,1S SOit�Oi :.,�s . � �.�.;.a '
<br /> � :. �- �- otherwise transferred(othes thata by devis�e or desc�t)by the Borrower and � s .. s
<br /> ,� _� _•� (ii)The Properry is not oxupied by the purchaser or grantce as his or.her principa}tesIdence,or the purchaser � �•� -� � 'f � `�
<br />_ y,,, , ,. or pantee daes so accupy the Property but his or her credit has not becn approved in accorctance ���� �������� ���
<br /> �...�.� �. _
<br /> :- �_ �, �_ - with the re�uire�nents of the S�Y• �. :.
<br /> Y��_a ; .; (c)No eVaiver. [f cQCUmstarzces occur that�,youtd pearnit Lender to reqaire immediate paymeat in fuli.but�xtidet '' ' �'�'�
<br /> .. ,.�:: �., `� do�not requu�e such gaymenu,i.eader does noi waive its rights wittn resnect to subsequeiit events. � '`-`� _ �
<br /> t. (�LRegnluttons aYHUD Secretary. In many circumstances regulations issaed 6y the Secretary will limit LeadcPs . `i`�.�Y�•"�'���--
<br /> �"r. rights, in the case of payment defauUs, to require immediar� payment in.f{�11�itd fareciose if not aid 7Yii.v �� —
<br />- � p ' ,:: �,.� �r„_.�_---
<br /> , : � Security Insaume�t dnes not authariTx uccelewdtion or foceclasw�e if not permitted by regulations of the Secretary. �-v�j_;�.�.-
<br /> �; �•,•,`�, � �' (e)Mortgage l�iot Iasared. Barmwcr agnees that shoa6d t1ds�Security InsLVment aisd the aote secured thereby not .�� r --�.�:--
<br />_ '�. :. .. ��'� -- ----
<br />�_ ¢ ._-,,.: '�.;, be eli�bte for insus�nce under ifte National Housing Act within • � 8 t11Cnt�'ts from the . �-�:=-=--==---
<br /> u ' date hereof.Lender may,at its option and notwithstanding anything in Paragraph 9.myuire immediate paymeni in `
<br /> L'�f.4Y L� �_ ._
<br /> -- - _ _ fitll of all samc�ecured by this Sec��rity(ncm�ment A w►iMPn statemeat of,:ny suthosizcd a�cat of the Secr�r .�,_�___=__--
<br /> "� ' dated sabseq�ent m 8 �t�Dia'�hs � � from the date hsreof,cfect'snmg�to insure thls Security -`------.---
<br /> '^-�-�-=-
<br /> � � _ Insdument and ihe r.ote secare�iE�y,shail be deemed conclusive proof of such i�igibility. Notwithstanding �•:=_-==--�-_
<br /> , r the fo�egoing,this option�a�r �t�exercised by Lender when the uaavas7ability of snsurance is solely due tis. � _-__ -
<br />_ ° _ � Lender's failure to remit a inor�-se y.,�ra,�x premium to the Secretary. �_"��y , .�
<br /> `� .�'`'� �� IO Reinstate�tenf. Bcrrower has a tigl�t tu i�r�instated if Lender has reyu'ved immediate paymeat in full becausa ef. � 'h�
<br /> . :�. � .�..� •r �;,
<br /> —�- A�rower's faiture to pay��ouat due arder[he'�4:e air this Security Instrument. This rignt appfies even after frxeclos.ir� ' '�`"°"
<br />_�T _ �?�°�:dings�re instituted- Ta feinstate tE�Security iusuument,Borrower shall tender in a lamp sum all amounts requ�.to ' °{��
<br /> .�_--.,.. _
<br /> - ��a��ri s a�cuart cmr�nt incIaa:_�,m�che ex[enr[hey are ob3:galians of Soirower under this �ecurty:Tiisnvm,e-�r. __ - —
<br /> ' forectosure aer:t, and reasosable.and -��� ;-nary attom.eys' fees aYd ezpenses properly associated with the foreclosur:•-,: .�
<br /> • su
<br /> .�c�g. Cpon reinstar�rr�nt by Bea�+:��a� this Sc�zty Instrument and the oh2igationc thal it secures sha�..r�nain L�
<br /> �' ;' . �:�'rci as if Lender had no1.:�:red iir�",,;;�w paym�-s.in fi�U, However.Lendes is not required to permit re�;s^.a:ement if:
<br /> � 1:��ender fsas accepted reitistatement a�<..°r the commencement of forectosure proceedings within two ye�s.�ir;;;n�diately �.c�,� �
<br /> � , �':z�ding the commencement of a cum�:s foreclosure proceeding, (ii)reinstatement will preclude foreclosure:��c�ferent � `�
<br /> _ .:...;�. �..:'�' $TODI1dS IIl 111E-�iSiillC,OT(111)fClllSYfl�[i'���vill adversely affzct the priurity of the liea created Cy this Security Instrument -�'�,a_ . —
<br /> ='�'"' ' . , . 1I. B�r.n�sr2r Not Released; Fc�e�,Earanoe by Lender Ntot a Waiver. Fa�tensian a: ine time of payment or. ;. t�i `• :y�
<br /> �� • s • • m�cauon of amorti7atian of the sums szeured by this Security Inswment ganted by l.endcr co any successor in interest ...s,�_.
<br /> �. `� , � ' of Barrower sha}I not uper�;�to release the liability of the original Barrower or E�aowers tacc�sor in mte;�:,�: l.ender �"-`�
<br /> shaU not be required to cc�,-Wnence proceedings ugainst any cuccessor in interest or refuse to extend time fc�p�yment or
<br />_ • . '` �`' Y� Qthenvise modity amortization of the+ums secure�i by this Security Instrument by re�on of any demand made by the , =
<br /> ` ��'=�
<br /> ��'� �'�'- .==�^• original Borrower or$orrower's successors in interest Any forbeara��.by Lender in exercising any right or remedy shall � ij�
<br />�-; •�• � ��-` not be a waiver of or eclude the eaercisc of an ri ht or remed . • •� r- -- ---
<br /> ,F_;•i� � - .� � Y g Y ..�'__,,� �.=�.=
<br /> >>'�, .������ 12. Suroessors aad Assigas gutmd;Joint and Severa!Lia6�s:fi;�o-Sigste�s. The covcnar.ts and agreerr:.ntc of'this � ;.�i��—
<br />�-1,?�=}�;:-u ; Security Insnument shall bind and benefit Ghe succcssors and assigns of Lender an�d$orrower,tiubjext to the�zcvisions of � r
<br /> _�.�g;� Paua�raph 9(b). Barrower's coveaants and agreemencs shall be joint and several. ,��k floarower who co-signs n'�is Security J"- ' -=�'+-'�
<br /> Insuument but daes not execute the Note: (A)is co-signjng this Security Inswment only to rr�ongage.grant and convey that '•�`�i'�''•4������?
<br />�`'�;�'`.:`'"� Borrnu�e�s interest in the Property under ar�terms of this Security Instnrment;(h�is not Pe�onaliy ohligated to pay the sums � �''=" �, z���.
<br /> ,;;� _, . secured by this Security inswment:and(c t::�rees that Leadcr and any other Borrower may agrce ro cxtend,modify,forbear � � � �'�"�,�,,.�� '"'� ;
<br />�'� ;,` • �� or make any atcammodaaons witb regard to the term of this Security Inshvmcnt ar the Note without that Borrower s •�"6�� '
<br /> �•:�:....°};, `.:- consent t;.,� rs_�.`::�.
<br /> . ..�,, �::
<br />_ �' `�� . . .�r:,-. -. 13 Nottces. Any noGce to Borrawer provided fbr in this Security Idctrument xhall be given by dclivering it or by � ' � °�""'
<br /> '�• mailing it by first ctass mnil unless applicable law rec�oires use of another mcthod. The notice shall be directed to the �� � :a.,�.
<br />_ ''�� ��"'� �. Property Address or any other address Borrorvcr designatcs by norice tn Lender. Any notice to Lender tiha11 be given by first � � �
<br /> _- �:''`-_�;:°� class mail to i.�nde�°s;uidress stated herein or any address l.endcr d.�ignates by notice to Bnrro�ver. Any notice providcd � ;F;t+:
<br /> • � � � for in this Securiry Insvurtrent shall be deemed to havc been given to Bonowcr or•Lender�vhen gi�•cn ati prati~�;:%i in this �<;°3�.,; �
<br /> '�, � :`~`'��' ParaEraPh• -�.t;�>,,,.. ` � .• ' "
<br />- `�:,,,;`;- , 14. Gove
<br /> ��f}f��t
<br /> ��::�,: • -.;.,;:= min�1-��v; ��erebitity 'I'his Security lnstrumcnt shall be gati�:n-�:e1 by Fcderal law and the:aw of the rfi"'` � • •
<br /> _ .,r,;:: .:;•� jurisdiction in which the Pror��*y is loczted. In thc evcnt that any provision or clau��of this Security Instrumcnt or the Notc ' • �
<br />-- '=�•�• �°��: � cnnfliets with applicable law.such co.zliiu:�;�all not affect other provisions of this Security ln�ttument or the Note �vhich can ' �y:; �
<br /> - �.:� :� - ,
<br />�.• i. �. '• be rven effect without the cc�qictin �y�:;-:•
<br /> ;3 ��'-t��, • S� g Fruvision. To this end the provisions ef thic Securiry [n.rw�ent and thc Note arc � '
<br /> -_ . ` ,;+�• ` ��� declared to be severable. ' . .
<br /> �t �"' ''`}'t``�`•`'�% 15. Borrower•a Copy. $arrowec shall be given one conformed copy of thit�ewuny Imtrument. � �
<br /> ` f�',:��:+�,. : . .
<br /> ___ , y!�;� 1�. As5lgnment of R�e[� Borrower unconditionally assigns and transfen eu G,:zrder all the rents and re�•cnues af tho •
<br />-.-�-�'r�`r S''y�;= Prupetty. Burrotiver authorizes Lender or Lender's r�gents to collect the rentc and revenues and hereby directs each tenant of
<br />_��`- '��':'�;;;;�t� �' .; the Ptopeny to pay the rcnts to Lender ar Lender's agents. Howe�•cr,prior to l.ender s notice to$orrowcr of Borrowcr's � �;�c;.;
<br />��"'�x�:'���� � ?� breacfi of aoy eovenant or agrcement in the 5ecurity Instrvment,Botrower.r•h;ill collect and receir:all n:ntti and revenues of � .��'���;;,:
<br />��`� ��', ��� ��• � the Froperty as wstee for the benefit of Lender and Borrower. '[tiic assignment of rentc constitutes an abwlute a.5sigmnent �� '
<br /> �;_�:r •. ,
<br /> -- - ;_-;:��+�+�- and not an assignm:nt for addilioaal sc:.uriry only. ..� • '
<br />_ _�,_.�f;�'';�:Y' If Lender�ves eoticc of brcach to Botrowcr: (a)all renty rccei�•cd by Barrotiver shall bc hclJ by Baaotccr�.s Uustce •
<br /> �" � ° �°°���� for beneFit of Lender onl y, to be a�p l i e d t o t h e s u m c s e c u r e d b y t h c S c c u r i t y [n s t r u m e n t:l b)l.c n d er s h a l l bc entid e d u� �
<br /> - '�'±"��'i:'� collect and rcceive�ll of the rents of the Pra e L,�� �..,i � , . - - �
<br /> •=�r_� _�. �. .--- P nS+::►nd(c)each teaant of the Pr.�pP.n•Stt,iil�> ...1 seni:;:,u�ani�u�ij,aiJ iu —_- ,--- _-- - -
<br />_ °— - i.�uu�,.,,Lenuer s agem on l.endef�written de�nand ro the tenant. ' �
<br /> � " , Borrotiver has not e;eecuted any prior;�ssignment af the rents and has nnt:utd viU nat perform any act that �could � • �
<br /> prevcnt L.ender from exercitiing it�righ�s under this P:uagraph 16.
<br />=`�:�,�.��;,��.4,� Lertder shall not be required to cnter u n,take conuol of or . � ,
<br /> Pa maintam the Ptoperty bcfore or aftcr giving nrni�c of
<br />-r� �;�;��;= �?_��;� breach to Borro�ver. Ho�verer..Lcnder or a judicially appointed recei�er may dn so at any time ihere is a hreach. Any , �
<br /> �,, ;�," ' upplixation of ren�c shall not cure or waire any deiuult ur iqvalidate any other right or re�nedy of Lender. This:�.�ignment of t '
<br /> ` • rents oF!he Property shall tcrminatc�vhcn the deht securcd by thc 5ecuriry Inswment iti paid in i'ull. t� �
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