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<br /> � ,��Y��F,n� �,y��.•;•��d tfxpaa nll E�ut�ln�idink indchtecictts4 uncitr Ihr,Nute+�xll br paid ta the eretity IrKally untiUrd ttx�eW. ,
<br /> 8. E'ees. l.ender rnay coilrrt te�c r►xl cbargeo uuth�>ri�x�!hy thc�areuu�y.
<br /> 4.. Gr�wds�Ow A�calor�tiw�at[?ebt.
<br /> (�) 1kGuuit. I,ender m�y,e�xcrpl us li�nitrcl by regulutio�is issued hy the&�.�crctar� in�hc cs�e uf pr�ymcnl�kf�ul�+, �,
<br /> ,rec�uin inunedi�te.p�pmen9�n iUll af�Il.rums securod by 11►ts Secur►ry�nstrun�crst if:
<br /> (ij F�u�rc�wer defaults by failln�;to���y in full xny �r►nnthly payment rcc�uircd by thir Sscuxity�nsuument�xior
<br />� ta0f'QI!II'lIC utie lwia:c�i uo�:ih:w�i�iu�il�t:j�«�ti::.11i,Or - �.
<br /> tii)Bcrmwer ckfaul�c by failing.far a �riod uf�htrty dsys,to peef'ex�m'any otlxr obli��tionx ew,uiaed in this
<br /> Sceurity lnstrument.
<br /> - (b) S�le WlUaut Credit Approvd. Lcndet sh,�ll,if permitttKl by upplicable law tnd with tht prior aprxova!of the
<br /> So�r�tary,royuire immuliate payment in full of a!1�he�ums secured hy thi�Securiry Inswment if:
<br /> (i)All or piut af the Propeny.or a ben�frc9;d intcrcwt in a trvst owning all or part uS the F'ro�xrty.is soW�r
<br /> othenvise trunsfeircd(othcr than by devise oe clesceni)by th�e Bocmwc.r,and
<br /> (ii)"I}ic Pivpc�iy is iiot occupicd by thc purchx:�:r ar gr�tt=as his on c�r princip�l r�sidtnce,or the purch��cr
<br /> or grentce dcxs so occupy thc f'roperry but his an c�r credit has not txen :Mprovcd in uccordanco
<br /> with the rcquircmentr•of the Secretary.
<br /> (c) No�Y�iver. If�:ircumstanc�.occur that would permit I.e:nder to recjuire im�necliate paynxnt En full,but Ixnder
<br /> d�c,.-�no�require such paymen4s,Lend�r does not wai�c its rights with resNect to su�ses.�uent events.
<br /> (d>Begul�tioas o[HUD Secretary. In muny circumstunces regulations issacd by the Secretary will liix�t Ixnder's
<br /> dgi�ts, in.the case af payment dcfuults, to require immediate payment in fuil and fareclo.ce Bf nW paid. '1'his
<br /> Seeurity Tnstrwnent daes not authorize ncceierntion or foreclosure�f not permittec!by segulations of tbe SCCretary.
<br /> (e) Mortg�ge Not�nsured. Borrower�gcees Uiat should thi,Security inswment and th�nate secured thereby not
<br /> be eligible for insur�nce unBer the National Housing Act within g �ths from the
<br /> d����ticr�of, !_enc!cr m�y,nt i�s nption and notwithstnndinfi unythin�in P.vagraph 9,requirc immediate payment in
<br /> e..s e�u...�_,.�,,.w�ti��{..�Co:.���I..g,*���;;?onr A W/AfPfY ctntam�nt nf anv wnthnrized neeIIl of dle SCCICG'i[Y �
<br /> daecd�su6seyuent tu �} �thg ti'om the date tier�:a�.declining to insure this Security
<br /> lnsiruntent and the notc secured diereby,shall be d�esnecl conclusive proof o.€stizh incligibility. Notwithstanding
<br /> the foregoinn,this option may nut be exercised by Lender when the unav�i!a3ility of insurance Is solely due to
<br /> Lendcr's fail��rc to remit a murteagc insurancc premium to thc Secr..l:�cy. �
<br /> 10. �Reinstutement Borrowcr has n right to be rcinstated if Lcnder h�s required immediatc payment in full because of
<br /> Bo�rower s failure to pay an wnvunt due wider the Note or thi�Sccurity[nswment. This sil;ht applics cvcn aftcr forcclosurc
<br /> procecdings ure institutcd. To rcinstate the Security inswnten�Borrower shall tender in n lump sum all amounts requ%��.d to
<br /> bTllls FSOiTOWCf 1 Uttiwllnl�:ullcitt IitVZUt�liib. Zv L�iV�.XSC�::,i:.�31iL'O��:p�IlL'S2£�Jt�^r*LSLL'T !!!!�Q! �2l5 ��'!'!!Tlt�r �¢cttv�m•�t
<br /> foreclosure cosGS ond reasonable and customary attorneys' fees und expenses properiy associated with the foreci�sure
<br /> proceeding. Upon reinstatement by Borrower, this 5ecurity Instxument and the obligations th;�t it secures shall remain in -
<br /> effect a�if Lcndcr had not rcquircd immt;diatc p�y���nt in t'ull. Howevcr,l.endcr is not requircd to pennit reinskZtcmcnt if:
<br /> (i)Lender hns ucapted reinstatement after U�e commence��ent of foreclosure pmttrcr�c�s within t�vo yean i�tum�'��;�ly
<br /> precect+ng the mmmencement of a current foreclosure prorecding. (��) reinstatemcnt i�•ill preclude for�losure on dit�'�r�nt
<br /> grounds in the future, or(iii)rcinstatement will adversely Affeci the priority of the lien rraated by this Security Instru�nenG
<br /> Il. Sorrov�er Not Rcleased; E'orbearance by Lender Not a �1'�i�er. Extension of thc time of payment or
<br /> modificupon uf amorti�ation of the sums secured by this Security Insuument granted by Lender to any successor�n interest
<br /> of Borro�ver shall noi operate to rclease the lisbility of the original Borro��•er or Borro�ver's successor in interest. Lcndcr
<br /> shall nut be required ta comm��ce proca:dings against any successor in interc.wt or refuse to extend timc for payment or
<br /> othenvisc modify amonization af the sums secured by this Security Instrument by reaeon of uny demand macle by the
<br /> original Borrower or Borcower s successors in interest. Any forbcamnce by t.endcr in exercising ;uiy rigln or remedy shall
<br /> not be•a waiver of or preelude the exercise of any right or remeciy. -
<br /> Iz. Succes�►rs and Assl�GS Bound;3oint nnd Severnl I.iabiltty;Co-Sigtters. 'I'hc covenants and agrccmcnGs af tfiis
<br /> Security Inswment shali bind und benefit thz successors and assigns uf Lender and Borrower,subject to the provisians of
<br /> Para�ph 9(b). Borrower's covenants und ugreemenGi shall be joint and several. Any Do�rower who co-signs thi�Security
<br /> InscruRn.nt but does not exec:ute�:Note: (u)is co-signing this Securiry Instrument unly to mortgnge,grant:u�d convey that
<br /> B�>rrowcr's interest in the Propert}•under the terms of this Sccurity Instrument:(b)is not personally obligated tu pay the tiums
<br /> sc:cured by this Sc;curity Insuument;;u�d(c)ugrecr that[.�:nder and aiiy other Borrower may agrce tu extend,modify,forbcar
<br /> or makc any acoommodntiom with reg:u�d to the term of this Security In;trumcnt or the Notc without that Borcowcr's
<br /> consent.
<br /> 13. Notia�. Any notice to Barro�ver providcd far in this Securiry Instrument shall be givcn by dclivcring it or by __
<br /> mtiling it by fint class mail unless upplicable law requires uze of another method. The nuticc shall be directed to the
<br /> Property Address or uny othcr address Borrowcr designates by noticc to l.cndcr. Any no[izc tn Lcndcr shall bc�iven by fint
<br /> cluss mail to l.endcr's address st�t��sl herein or siny uddrexs l.endcr designatcx by noticc [o Bonowcr. Any noticc providcd
<br /> for in this Securiry Instrumcnt shall bc dcerriecl ro havc bcen givcn to Burrower or Lcncicr�vhen gi�•cn�s providui in this ;
<br /> paragraph. -
<br /> 14. Govcrnfn� Ln�M; SeverubllIty. This Securiry Instrumcnt shall bc govcrncd by Fedcral Inw and thr taw of the ,
<br /> jurisdiction in�vhich ehe Propeny is located. In the event that any provision or clausc of this S��curity Instrument ur Uie Notc �
<br /> cunflictti with applicablc luw,such contlict::hall nut uffcct othcr provisiuns of this Sccurity�[nstrumcnt or thc Notc which cun ;_.
<br /> be given cffecl�viU�oat thc cuntlict�ng provitiion. 'Co this cnd thc provi�ions of this Sccurity Instrwnent and thc Nutc nrc
<br /> dccl;ued W!x;seLerabie. �
<br />- 15. f3oPrower's Copy. Bo►rower sha11 be given one conformed copy of this Sccuritv Inswmcnt.
<br /> 16. Asslgnment of Rents. Bon•ower unconJitivnally assigns and trunsfen to l.cncicr all thc rcnts and revcnucs of thc
<br /> PropeRy. Borrower authorizes I..ender or Lendcr's agcnts to collect thc rcneti and revenucs and hersby directs r.�ch tenant uf
<br /> : thc Propcny ta pay the rcnGti[o Lender or Lcnder's agents. Ho�vcvcr, prior to L.ender's nuticc lu Borro�vcr of Borrowcr',
<br /> brcach of any covcnant or agrccmcnt in thr Sv:urity Instrument. Borro�vcr shall collcct and recrivc all rcntti.tnd re��cnucs uF
<br /> thc Propcny as trustcc for the benefit of[.i:n�er:uid Borrowcr. This a�si;:mmnt of rcnts constitutcs an absulut�assirnmcnt
<br /> ;►nd not:m assiAnmc�t for additional sccurity only.
<br /> If Lcndcr bi�•cs �wtice uf brcach to Borrowcr. (a).►II rcnt,rcccn•c�by t3urrowcr�hall Bc ncttl by Horrowrr ax trustcc
<br /> for bcncfit of[.,c:nJer unly, tu bc uppli�:d to thc��ms+ccurcd by thc Sccurity Instrumcnt; (b) Lcndcr �hall bc cntidcd to
<br /> collcct and reccivc.tll of thc rcntc of thc 1'ruperty: :u�d(c)cach tcnant of thc Property shall pay ull rcnts duc and unp.iid to ,
<br /> Lcndcr or Lcndcr s ag�nt vn Lcndcr's�vrittcn dcmand ro thc tcnant.
<br /> Borrowrr har na cxecuttd any prior a+signmcm of the rents and has not :md will nut perfortn any �ict that �s�iulcl
<br /> prevcnt LsnJer f�r�m cxcrcitiing its rights undcr this P.►ragraph I G.
<br /> L.cnder shall not bc n�yuircd to cntcr upon.takc contrul uf ur ntaintuin thc Prupcny brfurr ur aRcr giving noticc��f
<br />' brcuch ro Burrowcr. Howc�•cr, Lendcr or a judicially uppointcd reccivcr may do ,o at :.my timc thcm is a brrach. �\ny
<br /> application of rcnts shall not curc or�vaivc any dcfault or inv.did:ttc any olhcr right ur itmc�iy uf LrnJrr. 1'his a,signmcm uf ;
<br /> rents of the Proprrry shal!tenninatc wl►cn thc dcbt sccuRd by thc Sccurity Intivumcnt i���aid in full. I
<br />. q,���r f�,�J p�ier„ �
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