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<br /> ��rii�cl;��l. /1u� tq)j)IIL'��(�Ofl UI I{i:',p�oz:::.�+1:: lu �it� ��yi��+:iEr�� �,irdl �t+�t cxt�:�td ur ��u�d(tmt� �lt_; �i�!r,d:�G,:��� tbr, i��u���ii1y ! •
<br /> pay�iicn4i,���luch nra m.feRCt' tn :_n Pnrngrnpl�2, or chnugc tlic umuunt of sucl� paymenca. Any cxccsv pu►c:cecl�; uvcr a�x
<br /> nmount required t�pay ati ow:t�«:..���r?ing i�icicbtcdnass under the Note shalF be pald ro tBe entAy tega?ly entitic:d thec�to.
<br /> 8, 'r'ees. L,ender m:+y collect fces und ch:uges nu�horized by Ihe Secretary.
<br /> 9. Ground9[nr Acccierwt{cm uf Ueht.
<br /> (p)1)ef'�ult. L,cnder muy,except as limited by regulacions issucd by the Secretnry in thc case of payment cicfnul�.s,
<br /> ecyuiro imn�cdiat�payment in i'ull of n11 swns sccured by Shis Scr.urity TnstrumenY if:
<br /> (i)8or[owcr det��uic.�by�aiiinb tu pay i��full uny mcnQ�ty payment rcquire.d by�his Security Instn�mcnt prioc
<br /> to or on the dua:date of the ncxt�nanthly payment,or
<br /> (ii)Dorrower defaulis by fuilin�,fur a period oF thiRy days,to perform nny odier ubligaiians contained in this
<br /> Security Instrument.
<br /> (b)Sak Wlthout Credi!Approval. [�:nder shall,if permitted by applicable law and with the prior upproval oF thc
<br /> Sccretary,rcquire immcdiate payment in full of nll the sums secured by this Security Ir�suument if:
<br /> (i)All or part nf the Property, or a beneficial interest in a uust o�vning a!I or paFt of thc Prcrpe�ty, is sold or
<br /> othcnvise tra�sferred(cthcr thun by devise or descent)by thc E3orro�vee,nnd
<br /> (ii}The Fraperty is alot occupicd by the purch�.ser or grantce as his or her principal re.idencc,or thc purchascr
<br /> or grnntee does so accupy the Property but his or her c�edit has not been approved in accordance =
<br /> with the requirements of the Sccretary.
<br /> (e)No Waive�. If circurnstnnces occur that would permit L,ender to reyuire immecliate payment in full,but Lender
<br /> does not requira such pag�ments,l.endcr does not wuive iGs rights�vith respcct to subscquent even�s.
<br /> (d)Regulatlons of Hl)D Secre.tary. In many circumstances regulations issued by the Secretory will timit I.ender's
<br /> rights, in the casc of�ayment defaultv, to raquire immediate payment in full and forr,close if not paid. This
<br /> Security Instrument does not nudiorize ucceleration or foreclosure if not pernuuecl by regulatians of the Secretary
<br /> (e1 Murtgage Not Insured. Borrawer a�rees that should this Securiry Instrument�nd d�e note secured th�reby not
<br /> be eligible for insurunce uuJ�i tiic Natianal Housing Act within 8 t�S from the _
<br /> date hemof,Lender may,at i�.ti option�nd natwithstanding anything in Parag�9:require imrnediate payment in
<br /> fuU of all sums srcured hy ihis Security lnswment. A written statement of any autharized agent af ihe Secretn�y
<br /> dated subseqaent tn � from the dnte hcreof,declining to insure this Security
<br /> Instrument und ihe note se8cu►�thereby,shafl be deemed conclusive praof of such ineligibility. I�Ionvithstanding
<br /> ihe foregoing, t6ia option ma� not be exercised by Lender when the unnvailabiUty of insurancc is satcty due to
<br /> I.ender s failure to remi� a mortgage insurance premium ro the Secretary.
<br /> 10. Relnstntemeni. Bonow•er hati a right to be reinstated if I.cnder has required immedinte paymcnt in fidl because of
<br /> 8u�rower's failurc to pay an amount due under the Note or this Security [nstn►ment. This right applies even after foreclosure
<br /> proccedings are insti[uteci. i o reinsuue ine Securiiy Iu,icuy�iaai.II�rc�x�r sh:�!!eer.der in s!�:r.:p sum L!1 s�mounrc rcuuircd 20
<br /> bting Borrower's account current including, to the extent they ure obli�ations of Borrower under this Security Inswment,
<br /> foreclosurc costc and re;�.,onnble und custom:vy attorncys' fces and expenses properly IItitiOCtA�C(I Wilh tI1C farcclosure
<br /> procceding, Upon rcinstnteinent by Bon•owcr, this Security Instrument and the obligations thut it secures shal! remain in
<br /> eftett ati it Lender had not reyuired unmedinte pnyment in full. However,Lcnder is not required to permit reinstatement if:
<br /> (i) Isnder has accepteci reinstatement ufter the commencement of foreclosure proceedings within two ye�immediately
<br /> precedin�;the commencement of u current forecloxure proceecling, (ii) reinstatement will preclude for�c:losure on different
<br /> grounds in the future,or(iii)reinstatement will�idversely uff�ct thr,priarity of the lien crcated by this Securiry instrument.
<br /> 11. porrower Not Relcased; Forbenntnce by I.cnder Not u Watvcr. Extension of thc tirnc of puyment or
<br /> moditicution of um��rtizutian of the sums securcd by thi5 Sccurity Instrument grunted by Lender to uny successor in interest
<br /> of Borrowcr til�all not uperutc to rcleusc thc liability of thc originul Borrowcr c�r Borro�ver's successor in intcrest. Lendcr
<br /> shnll not be rcyuirul to crnnmence pruuedings ngumst any �uccexsor in interest or rcfuse to extend time for payment or
<br /> othcrwisc modify umorti�ltivn of thc tiums sccurcd by diiti Sccuriry Instrument by rcaean af any dcmand madc by thc
<br /> original Borrawer or Bnrrower's ,uca:ysar, in interest. Any farbear�nce by Lendcr in exercising:uiy reght or remedy shull
<br /> not bc u wnivcr of or prccludc U�c cxcrcisc of nny right or rcmcdy.
<br /> 12. Successom and Asstgns Bound;Joint und Severnl Llubillty;Co-Signers. The covenant�and agre:emenGy of this
<br />- Sccuriry Instrumeut shall bind ond bcnctit thc succcssors and i�.tisigns of L�:ndcr and Borrowcr,subjat to thc provisions of �
<br /> Paragraph 9(b). Borm�vcr's covenantti and ngrccmen4s tihall be joint and several. Any Borrowcr whu co-signs this Security
<br /> Insvwnent but does not execute t!u Note: (a)is co-,igning this Security Instrument only to mortgage,grant und convey that
<br />- Borrowcr x interest in the Propci:y under thc tcnns of this Sccurity Imtrumenr,(b)is not personally obligutcd ta puy the tiums
<br />- ,ecureJ by this Securiry Instrument:and(c)agrees that Lender and any other Borrower muy agree to extend,modify,Forbear
<br /> or m�ke nny accommadntions with regurd ro the tcrm of this Sccuruy Instrument or the Note without that Borcower's
<br /> consent. •
<br />- 13. Nolices. Any notice to Burroaer provided for in this Security Instrwnent shall be given by dcliverng it or by
<br />- muiling i[ by 6rst class mail ureless upplicable law reyuires u+e of ano�her method. The noticc shall be directed to the
<br />- Propcny Address or nny other addrers Boreowcr cicsignuteti by noticc to Lcnd�c Any notice to Lendcr shall bc givcn by fint
<br />- cluss muil to l.endcr's uddress st:iled hcrein or any addT�tis Lender designates by notice to Borrowec Any nanee provideJ
<br />= for in this Security Instrumcnt shall bc dcemcd to ha�. ocen givcn to Bono�vcr or I.endcr when givcn ac providcd in this
<br /> paragraph.
<br />= 14. (:overning Luw; Severtil�ility. 'This Sccuriry Instrumcnt shall bc govcrned by Federol law tmd the I;�w of the
<br />= jurisdiction in whict�the Property i.locnted. In the evcnt that.my provision or clause of this Sccurity InYtrument or the Note
<br />- contlicts with applicablc law,such contlict shall not ufl'cct othcr provixions of this Sccuriry In.r•[rument or thc Notc which can
<br />= bc givcn cffc�:t�vithout thc cantlicting provixivn. Tu thi+cnd thc provisions of'this Sccurity Instrumcnt and thc Notc arc
<br />- declarcd to be xcvcrnblc.
<br />- 15. Borro�ver's Copy. Borrowcr shnll bc given onc conforniul copy of this Sccurity Instrument.
<br /> i iG. Assignment oP Kents. Borrower unco�iditionally astiigns and transfen to L.ender all the rents cind revcnues of the
<br /> - Proper►y. Horrowcr�wthorir.cs Lcndcr or[.cndcr'x ugenGti to collcct thc:rents and��:vcnucs und hcreby dirccts cuch tcnant of
<br />= thc Prupcny ro pay thc r�nts to Lcndcr�r Lcndcr ti agcnt,. Howcvcr, prior to L.cndcr's notice to Borrowcr��f Elorrowcr's
<br />- brcach of nny c�ivenant ur agrcerncnt in thc Sceuriry in+trument,Borrower shall collca;md rec�ivc all rents and revcnucs of
<br />�a ihe Pronertv ac trust�. far the.benefit of I.ender and Borcower. This ussignment of rents con,tiwtcs an absolutc:�tisignmcnt
<br /> - and nat mi utisignmcnt for udditional sccuriry only.
<br /> = If Lcndcr gives noticc of brcach to Borrowcr. (n)all r�nt�rcccivcd by I3orrowcr shall bc hcid by Borrowcr n, trustcc
<br /> = for benefit of Lendcr unly, to t�c applicJ to thc sums xccurcd by thc Serurity InstrumenC (b) Lcndcr shall bc cntiQcd to
<br /> - collcct and recci��c all of thc rcnts of thc Property:and(c)cuch tcnant of dtc Property shall puy ull r�nts duc and unpaid to
<br /> _ [,endcr ar C.cnder's agcnt on Lcndcr's written demand to thc tennnt.
<br /> [iorrower h:�v not cxccuted any prior as+igmncnt nf thc rents i►nd has not and �vill nr�t }�c�iorm any art that �vould
<br /> _ prcvent Lcndcr from cxcrcising i i.rights undcr this Puragraph 16.
<br /> ' L.:nder �hall not be requirid to entcr upon, take control of or maintain the Propercy before or t�t'ter gi��in�, notice af
<br /> - brcitch to Qorrrnvcr. Howcvcr. Lcndcr or a judicially .ippointed receivcr may do tio at any timr iherc is a brra�h. Any
<br /> _ application uf rcnt�shall not curc ur wuive any default or invalidutc any other right or rcmcdy of Lcnder. 1'his as,i�wnent uf
<br /> ' rcnts ot'thc F'roperty shaU tcrmiittilc whcn thc dcbt sccurcd by thc Sccurtty instrument is paid in full. ,
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