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<br /> (u) Kkfxalt, Y.ci;:i;_r may, �s�cr��t r,;limitc`I It�r��.�l;fin:i5 i�.;ectl isy c{��`�ot���;:,�in t;r.:c:E;��af'��•�y�::�at t!;:s'.::;(�:, --
<br /> Kc�c�i�irc i�ttmcdi�ite paymrnt In Aall nf'a+ll r,uiiis�ecurcd ttiy Ihis Sc�ur ity Intiti�n�.cin if: •
<br /> (i1 l.1a����m�,,r�t�f;wlt.y hy fsilin�tn p:►y fn full c�r►y���nmhl�� �r.iy�ir�ni r4qt!ir�:ai i►y ol�ls S��curity In�t�uuicnt���•i��r
<br /> tn or an thc auc datc os►ha ncxi etiKitttitfy��ay���c�ci,�r, , "
<br /> (ii)Bu►sma•ct'dei'aut�c hy P:►ilin�.for a�xrtcxl qf Ihirly c:ays.to perFi��m csny athtr c3l�li�ati�ns containcd in this
<br /> S�curit�]nstrunxnt.
<br /> (b):lak 6W►ti�ut 4�edlt Approval. Lendcr shall,iP�xruiittcd 6�y ap�licablc lnw and with the prine aPprova!oP t�a
<br /> Sccrctury,rcyuirc immocllate payment in�u110.�U thc sunt�:saured hy ihi�:Securiry Instniment iE
<br /> (i)All ar part af the i'roperty, Ar o ixnc��i11 intcrest in n trust uwning all ar part of ihc�h�op�rty,is sotd or
<br /> otherwisc transfejred(�thcr thnn by devisc or dc�ccnt)by thc��irro�vcr,nnd
<br /> (ii)�tc I'roperty is not occupicd by tttc pu�h:uer ur grai�tc:e�.ti itis o;hc.p:'sncipWl n;ictcnc:,or Ui�pssrcle�^_r :
<br /> or grantce, d�s so occupy th� t'ropeny but his �r lier creclit l�ti not Exen approvcc� in x�ordance
<br /> with thc rcyuiremcnts of thc;Secretary.
<br /> (c)M10 lYatti•er. lt ci�cumstances uccur tnat would�c:�nit 'Lcndca to���yui7c immcdiatc paymcn�in full,but Lcrdcr
<br /> docs nr,t res�uiro sucl paymcnts,Lcr.der docs not�vaivc its rights evidti respcct to su�sequcr,t even�s.
<br /> (d)ItegulaEkr�ts af 1�[JA aecretary. In many circumstanecs regu6ationy itisu�d wy the S�crotary►vill limit t.ender's
<br /> rights, in die case of payment defaults. to rcynire immediat� paymcnt in full and foreclose if nut paeti. Thi� ,
<br /> Security Instrument�►ocs not nut!�orize nccelcrntion or foreetosure if not per�nilted by regulations of the Sr,�r�etary.
<br /> (e)biortgage Not I�ssuretl. Uonowcr agrees thnt should this Security Cnswnx:nt nnd thc note sccurcd then:by not —
<br /> be�ligibte fbr ins�r.�nce i�ndc;thc Nntinnal H�usiug Act witl�in g��h„ from the
<br /> date he�eof,Lender►n�y,at its opGon and not�viths[�ndiug auyitiing in P.�r�grapy�),rcquirc irr���cdiace p»,►r.en:in ._
<br /> fuq of nll sums secured b�+this 5ecuriry lnstn�mene. A�vritte�statemcnt of cmy authorized agent uf the Secirtary
<br /> datcd subscqucnt to a mpntf�S frmn thc dutc hcrcaf.dcclining to insurc this Sccuriry
<br />- [nswment and the note secured thereby. shuU be deemed conclusive proeE nf such ineligibility. Notwitl�staading
<br /> the foregoing.this option may not be e�ercised by L.cndcr whcn thc unavailability of insuranee is solely dac to
<br /> L.ender s fnilun:to remit m mortgage insurance premium to the Secretary.
<br /> 10. R�iastatemeni. Eionrowcr has a ri�ht to be rcinstatcct if l,ender hae requircd immediate payment u�€ull bc�nuse of -
<br /> u°v■i'v��;u°�::�:.^.�.:j»o':`�G'i:'�e° •�.".�Q.*!hn Nnte�r thic Crvurity Inr.tmment. 771ic�iRht annlics Ct�cn aftcr foaeclosure
<br /> procecdings are instituted. To reinsLlte tZ-ic Securit}r[n�;tru�ttent,Borrow•e�•shall t�ndcr in a lump sum a!I �miounGs requirc�to
<br /> bring Fsorrower s accoun[current inciuding, co cttc cxceni incy:uz uaiigaiiv�is ai�o0�i0:i�ci u�:#.:.tlti; S.,.,�i�In:.ssiss:�ii,
<br /> foreclosure costs and reasonable and cusromary attorncys' fce5 and cxp�nses properly associatcd ��•ith thc foreclosurc
<br /> praa:eding. iJpon reinstatement by BorTntiver,this Scxuricy ln�trumcnt and tTie o6!isations Ihut it secures shall remain is�
<br /> effe�r.ns if Lender had not reyuired immediatc payment in full. Ho�vcver,Lcnder is not requircd to pennit r�inskntement if:
<br /> (i) I.ender has accepted reinstatement a8er the commencement of forec:losure praceedings �vithin nvo years immediately
<br /> preceding the commencement uf a current foreclosure proccxciing, (ii) reinst�ltement will preclude foreclosure an different
<br /> grounds in thc futurc,or(iii)rcinstalcmcnt�ti�ll adversely:.ffcct the priority of the lien creatcd by this S�ccurity lnstnimcnt
<br /> 11. Sorrower No4 Ite'kused; Eurbearence by Lender lVoi A �Vaiver. Ext�nsion of the time of pa�rmcnt or
<br /> ntodifccauon of amortizauon of the sums secured by this Security Inswment granted by Lender to any successor in intemst
<br /> of Borro«•er shall not oper.itc to reteasc U�e liabiliry of the original E3orrowcr or Boirower's successor ►n intcrest. l..ender
<br /> shall nut be reyuired to commence proccedings against nny succatisor in interest or refuse tn extcnd tirae for payment or
<br /> odtenvise modify mnortization of thc sums sccured by this Security I�zstrumcnt by rcason of any demand mnde by thc
<br /> osiginal Borrower or Boitower s successors in interest. Any forbcarance by Lender in exe�cisinb any ri;ht or remedy shall ,
<br /> not be a wniver of ar preclude the e.cerc�c of any right ar remedy.
<br /> 12. Sucoessors aua Asslgns Bouted;3oint and 5ever.tl Linbility;Co•Slgneag. Thc covcnants and agreements of this
<br /> 5er�urity instrumcnt shull bind�nd benetit the succcssors and assigns of Lender and Borrower, subj�ci to the provisions Rf �
<br /> P.v�zgcaph 4(b). Barrower's covenants and agreementti shall be joint nr►d several. Any Borro�ver who co-signs this Securiry _.
<br /> lnswmcnt but doc;s not cxecutc the Ivote: (11 is co-si�nin�this Sccuriry Instrumcnt only to mongagc,grant and comey that _
<br /> Borrower s interest in U�c Property under th�a�mis of this Se�:urity Iaswment:(b)is not personally obligated to pay the sums •
<br /> sccund by d�is Sccurity Insvument:and (c)agrces that Lendcr und any othcr Borro�a•er may a;r�ec to extend,modify,for.bc:u-
<br /> or �tnake any accummodations tvith rc�ard to the term of this Seeurity Instrument or the Noie without lhat Borruwer s -
<br /> ccrosen�
<br /> 13. Noitces. Any nodce to BoRO�ver provided for in this Security Insuwr�ent sh;d!be gi��en by dcliverin� it or by --
<br /> m:uling it by first class mail unless applicable law requires use of another method. 7't►e notice shali be direct�d to the
<br /> Prope.rty Address or any other address Bo�rowcr designates by notirc to Lcndcr. Any notice to C.endcr shall be given by fint -.
<br /> cl�ss mail to Lendc�s addre.es stated hcrcin or any address Lcnder dcsi�;n�tcs by notice to Borrowcr. Any noticc providcd -_
<br /> fur in diis Security Insttumcnt shall bc deemed to have becn given to Borro�vcr or Lcnder�vhcn givcn as provi�$c1 in this ;_
<br /> pt4�grnplt. ��`
<br /> 14. Gocerning Lntv; Severa6flity. This Security Inswmcnt shal� be govemed 6y Fe;cleral la�v and the larw of the fz,
<br /> juri3dicuun :n�vhish Uic PropeRy�s locatecl. In the:event tl�nt any provision or rinu se of this Securir.�Instniment or thc IVote
<br /> conflicts+vith applicablc law,such conflect snall not nffcct ochcr provisions of this Sccurity Instrumcnt or thc Nntc �vhich can ��
<br /> be givcn effect withont thc conflicting Praz�ision. To this end d:c provisions of tD�is Securiry Inswrnent and the Nocc are
<br /> declared ro 6e sevemblc.
<br /> 1S. Borrower's Co��y. �irnTOwer shall be given one confonned copy of this Sccurity Insuument.
<br /> � 16. Asslgnment af Rents. 13urto:vcr unconditionnlly assigns und transfcn to Lcndcr nll thc rentti and revcnc�es of the
<br /> Property. Borrowcr authoru.es L.ender or Lender s ngents to coflect the rents ane�*_re�mues:u�d t�ereby directs each tenant of
<br /> thc Property ro pay thc rcnts to Lendcr or Lcnder s agcnts. Ho�vevcr, prior to C.endcr s noticc ro �orro�vcr of Earsawcr s
<br /> hreach of any covenant ar a�reement in the Sccurity Instrument, Borrower shall collcet and rcceive a1l rents and reti�enues of
<br />- thc Property as wsrcc for thc bcncfit ot Lcndcr and Borrowcr. '1'his assignmcnt of ronts constitutes nn ab,olutc assignntent
<br /> and nut un assi�uuent fur:uldition:il sccuritv onlv.
<br /> If 1.cndcr givcs noticc of brcach ti�Donowcr: (a)all n;nts rcccivcd by Borra�scr sh.dl bc hcld by Borro�vcr as trustcc
<br /> for benefit of L�:nder only, to bc appliul to thc �ums xccuncci by thc Sccurity In�u'umcnt:Qb) Lender shall bc cntiticd to
<br />- collect and rcceive all�f dic rcnts af the Propeny;and(c)each tenant af thc Propercy sh.dl pay all rents due anJ unpaid to
<br />- I.ender or Lcnder s a�cnt on Lcnder s written dcinand to thc tcnant.
<br />- Bo�ro«�cr has not cxceutcd:�ny prior .issignmcnt of thc nnts and has not and�vill not perform any uct that would
<br />- prrvcnt Lcndcr tirom excrcising i+s righGS undcr this Paragraph IG.
<br />= Ltnder shall not bc rcyuimd to entcr upon, takc control uf or maintain �hc Property bcfoiL or aflcr giving noticc of
<br /> bRach to Borm�vcr. Ha��•cvcr, Lcndcr or u juciicially appointecl rccciccr may do s�i at uny �imc thcn is a brwch. Any
<br />= application of rcn�,shall not cur�or u•aivc:uiy default or im•alidatc any othcr ri�ht or rcmcdy oT L.cndcr. This axsignmcnt of
<br /> rcncs of the Property tihall teiminate�shcn tl�r debt secured by the Sccurity Instrurtent is paid in fi�ll.
<br /> I pu�;e J�/J/nt¢rtl
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