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<br /> -::�—,::;.,:��;.;::�.� �t��—:�i��pr�Q��� �;_�__—.�_ -
<br /> ~ piincipal. Any appGcatinn of tiic prueccdti to the priiicin�I tifiall ni,t exiezid or ��i�sipunG �i�e cluc� d,�ec nf' �he �unn�lily �_ __-
<br /> payrncnts, vhicii urc rcferrcd tn in P.n'a�;r�!pii 2.ur cfiau;,�c li�c u.uwuut uf�ucl� ��ayrncnt,. A��y cxccti�; ��rnrc.�;,ds r�vc►� au '�"
<br />";��%�r`�'""�;��f «mount rcyuirecl tn pay xH ou4titirnding indebtedness undee ihe Nate shall bc paid to�hc:cntiry Icr�lly�ntiticd�h�rcto. ___ --�-��--�
<br /> -- �-__—_- R. lts�oc I p���iar n�gY rnllrrt frne E�nd c'hnraoc nnthnrir�d hy 1he SrcrCtary.
<br /> ����" 9. Crouivils for Rccelcrattan uf�3ebt. ---
<br /> ----
<br />----�_;�xa.,,:�s�
<br /> ._-�_____ (a)Default. l,s:ndcr may,cxccpt i�s limitcd by rcgulations issucd by[nc Sccrciuiy in ii�c cusc oi pay�n�ni tici'uuii.,,
<br /> ....�..__._ ,. -------
<br /> _-
<br /> rcyuirc immGJiatc aymcnt in full af;�ll sums secun:d by this Sccurity lnstrument�t: _
<br /> ��a�,�„�z,w�,� (i) 0un•owcr cti�ults by f�iiling to p�y in full nny monthly paymcnt rcyuircd by this Sccurit,y Instrumcnt prior
<br /> to ur on chc duc datc oi'thc ncxt montht i mcnt.or -
<br /> -= y��y �,_
<br />�� (ii)Barrower defaults by failing,for n�xriud of thiny days,ta perform�ny othcr obligutions contained in this
<br /> _�°'��� Sccurity Instrumcnt.
<br /> �?.;� (b)Siik NI�Ithout Onedit Approval. l.endcr shull,if permittcd by upplicablc luw und with thc prior npproval of thc
<br /> ,.,,__,.«;.,�-- � � _Secrctafj!"d:a�diro tmmadiatc payment in full of all die swns sccurcd by this Sccurity in�trument ii':
<br /> „�--•c��•; :.� .• � '' • (t)�•hlfi�r�:�f hCihc P�vpcny,ur u bcncliciul intcrest in a u•ust rnvning all or pnrt of the Property,is sold or
<br /> t.• ••�;���
<br /> �11:. �_ othenvisc trunsfcrred(other than by dcvisc ar descent)by thc B�rrower,and
<br />__}�, �+ :� (ii)Thc Property is not occupicd by the purchaser ar grantcc ati his or her principul rcside�u�,or the pw�cl�user --- - - °
<br />°-� or gr,►ntce does so occupy die Property but his or her credit hati not been npproved in uccardance
<br />.";,,,s,�,�,,'',,` with the rcquirements of the Secretary.
<br /> Ii' Y.
<br /> ,, r:,� (c)No VYaiver. If circumstances occur that would perniit l.ender to rcyuire immediate payment in full,Eut Lender
<br />-�"�-'�`'�"�'%`�rw' •• does nat reyuire such payments,I..endcr does nat wnivc iGc righ�ti with respect ta subscquent evcn�y.
<br />;�.y•; . ,• . ..• ,�. -
<br /> __ •••.#`�"% '�' (d)Regulutions oP HUD Secretnry. In many circumswncex rcgulatio�s issued by the Secretsuy will limit I..ender's
<br /> -�*'�"�'.?s-L; rightti, in the case of payment defaul�i, to rryu+re im�nediate paymcnt in full and foreclose if not paid. This -
<br /> :`�y�:w:��, .;; Security Instrument does not:►uthorize ucccleration or fon;closure if'not pennitted by re�ulations of the Secretary. -.___
<br /> _•_� � '•�i�'"` ��� (c)Mort�;uge Not Insured. Borrower ugrces thAt should this Sccuriry Inshvment and the notc�ecured thcrcby not �s�,�___
<br /> • ���' ` bc cligible for insu�ancc undcr the Nationul Houxing Act within g �pp��hg from thc __-
<br /> ,;:. : . ___.
<br /> ;. : date hercof, [.endcr may,at its option and not�vithstanding anything in Paragraph 9,requirc immcdiatc paymcnt in �'�`�y`_•�=---
<br /> �%```` "'"-"' fuU oS all xums stcured b this Securit In�uumcut. A wriucu,tat�mcnt of an•authcrized u �nc or tre Secre� ��-"°--
<br /> •. :�. .� Y Y y S �5' ��:_.-ri.=_.-_-----.--
<br /> , � � dated wbsequcnt tu 8 montF-�s from�he dute hereof,derlining w in,urc: thiti Securiry ��`-• -
<br /> , - • ��:__�
<br /> '-' lnstrument und the notc sccurcd thcrcby,shall be deemed conclusive praof of sur,h ineligibiliry. Notwithstanding �'"_"`�``"-�
<br /> . 4�� '� /l:.-�����.
<br />, �F � the foregoing,this option may not bc cxercised hy L.endcr when thc una��uilabiliry of insurance is �olcly duc ro �' �w��•"� s=
<br /> "' _� , i.ender's failure to remit a mongage insurance premium to the Sec:ret:uy. • 'f'+.
<br /> ..._, ._ 10. Reinstntement. Bon•owcr ha.ti a rieht to be rcinscated if Lcndcr has required iimnedintc paymcnt in full bccnusc of .�i. .�:�
<br /> �" � Borrawer's failurc to pay an amount duc undcr thc Note or this Scruriry Insu•ument. 1 h�s nght applicx e�•cn aitcr forcciosurc �- � - -
<br /> proceedings are instituted. To rcinxtute the Security ln�trument. Horrowcr+hull tendcr in u lump sum ull ainount,required lo r:,��•_. •�
<br /> I-� �'„�=
<br /> bring nurrowcr s acwuni currcnc inciuciin�., io ine cxicnc �ncy :uc oniigacium ui 8urro��•cr undc:r inis S�^c:uriiy imirumcni,
<br /> „ . forcclosurc costs and reu,onablc and customiiry attorncys' fccti and cxpcnu+ pmperly ussociuted with thc forcclasure ;k:'�•.
<br />. proceeding. Upon reintwtcment by Borrowcr,this Security Instrumcnt and the ohligations that it scrures shall rcmain in ��;+�'�
<br /> effect as if I.endcr hnd not rcquired immcdiatc payment in full. Hoa•evrr,Lendcr is not reyuircd to permit rcinstatement if: ;;:��;.
<br /> . (i) i.ender ha.s accepted reinstut�ment ufter the commeneem�nt of foreclosure procerdings within hvo ycur� immediutely y.,,
<br /> • preceding thc commencement of u current foreclosurc procceding. (iil reinstutement will preclude t%�reclo,ure on different .:'• ,.
<br /> grounds in thc futurc, or (iii) rcin,talcment will advcrscly affcrt thc prioriry of�hr licn crea[ed by this Security In,trwnent. ?`� r
<br /> : 11. Borrower Not Released; Forbearunce by I.ender Not a �Viilvcr. EKtension of thc time ot' payment or � ., 1. ,`��
<br /> modification of amortir.ation of the sum>>crured by thiti Security histrument grantcd by IAnder to uny xucce�sor in interest ,
<br /> ' of Dorrowcr shall not operatc to rcleasc the liabiliry uf thc��riginul Bi�rrc�wcr or Borrowcr',�ucceti�.ar in intcrc+t. IAndcr � ,�.
<br /> shall not be reyuired to commencc proceedint. aEain�[uny rucresx�r in intere,t c�r rrfu�c tu cxtend�ime for paymcnt or ,. �`�`�`
<br /> ' otherwise modify amonir.ation ot' the sumti ucured by this Scrurity Intitrumrnt hy rcason ��f any JemunJ �nadr hy �hc . � . ,: �
<br /> ' ori�inal Borro�vcr or Borro�vcr'ti wccc,:.or, in intcrc,t. An� forbcarancc b Lcndcr in cxcrci�in�an ri�ht or remcd tihall '�' � � �
<br /> ., b > Y � Y b Y• .. .r.: � �
<br /> �' ` not bc a wuivcr of or rccludc thc crcrcisc of an ri�ht ur rcmcd "'"f��'�'#'`-
<br /> .• P Y b Y• .. ...; �,
<br /> • _ � 12. Succcssars and Assi�ns Bound:.Ioint und Sevcrnl Li�bUit,r�; Cu-Signers. Thc cu�cnantti unJ ugr�emm�t�ol thi� :� ,
<br /> Sccurity Instrument xhall bind and lxneti�the,ucccs,un :md atitiigns c�t'Lcnd�r and Borrow�r. �ubjccl to thc pro�itiiunti uf �
<br /> ` Paragraph 9(b). Borrnwcr's covcnants and a�*r�rmcnt�+hall hr joint and,cvcral. Any Horrowrr who co-,igns thi. Sccuriry "
<br /> . n� Instrtunent but does not excculr thr Notc: (al i��u-�igning this Scrurity Intitnnnent unlp tu mortga�r, grant and com-ey that „ .
<br /> 1,: Borrrnver't intcrest in thc Pmperty undcr thc tcrim uf chiti Sccuriry In,trumcnt:(h1 i,nca persunull}�obligatcd to pay thc sinm
<br /> . sccured by this Sccurity Intitrumenr,and lcl agrerti�hat Lrndcr.ind any��thrr Bcnrc�wcr ma}•ugrrc tu rxtcnd.mc�dil'y. ti,nc�ar ,,,�
<br /> -�. or muke any acrommoJ.ttions with rc�,ard to thc tcnn c�l ihiti Srcurfty Instramcnt ��r thc Nutr ���ithnut that Hurruwci'� . ,'�'
<br /> ' consent. •
<br /> 13. Notices. Any nunre to B�iirci�ecr pruvid�d ti�r in thi� ScruritJ� Intitrument �h.�ll hc �:i�•en hy dcli�rring it or by '
<br /> muiling it by tirst cliis, rnail unless applicahlr l:nv rryuircti u�c al' :muthcr mrthud. 'I'hc nutirc �hall hc dircctcd ta thc
<br /> Property Addre��ur uny othcr uddreti+Burrci�acr ar.i�.nauc�h�• notirc to Lcndcr. An}•nc,tirr to L�nJrr,hall hc�i�•rn hy t u•,t „
<br /> cl��sti muil to L.endcr's addresti ,tated hcrcin ur:my addreti�Lcndcr dr�ignate, hy nuticc lo Bon-u�ecr. Any nntice pru�•idcd �..
<br /> • f'or in this Sccuriry Insu•umcnt tihall hc dccnud to ha���bren gi�•cn to Hurruwcr ur Lcndu• �vh�n girrn:i, proriJ�d in thi,
<br /> paragraph.
<br /> , 14. (:uvernin� I,utr�;Sevrrubility. '1'hi� Scrurity Instrumcnt ,h:dl hr gorcrncd M� f�cdrral la��•and ihr L•i�v of thr
<br /> jurisdiction in which thc I'roperry i,I�xated. In thc c�•eni that�my pru��i�ion or rlaux c,f thi,Securiq• In,tru►nent ur the �lutc
<br /> . ronFlicts with applicablc l.��v.�uch conllicl.hall not�d�fcct uthcr pro�•i�iun+uf thi,S�curin•In�(rumcnt c�r th� :�atr ��hirh ran
<br /> bc given cffcrt without thc rcmllic:tinE prnvi+ic�n. Tu thi� cnd the pro�i,i�,m ul thi� Srcurity In,u�umrnt :uid thc Nutr arc
<br /> Jcrlared to bc��v�r.iblc. i
<br /> 15. Dnrmwer's Copy. Aorrowcr tihall he given onc runfc�rnud rory�il thi,Scrurity In,lrumcnt.
<br /> 16. Assi�nment of Rentc. Borrowcr uncundi►iunally a.sign+.ind tran+f�r+t��Lcnd�r all?hc r�nt.and rc�cnur�uf thr i .
<br /> � Property. Bo�TOwcr authoriies Lender c�r Lcnder',agrnl, to rc�Uerl the reniti anJ r�e�nucti and herehy Jirr�t+rach tcnanl uf
<br /> , , thc Prc�perty to pay thc rrnl+ tu L�ndcr ur Lcndcr'+ a�±�ntti. Hua�r�rr. priur t.� Lrndrr'.m,ti:: to Bc�n'o��cruf 13urrnt�•rr', • ..
<br /> „ brcach of any c��vcnunt or agrccmcnt in tlic 5�rurity In+tnnncnt. t3orruvrrr,h:ill rullect and rerci��all rent� ancl rc�cnucti ul' i
<br /> thc Prc�perty ati tru�tcc tiir thr h�nctit ot'I.rndcr nnd H��rrua•.r. l'hi+a+,ignmrnt uf rcnt�runtititutc, an ah.ulutc:;..ignmrni j
<br /> and not vi a,tiianmcnt tbr additiunal xruritv unlv. �. _ _.
<br /> -`-- --_--= If l.cndcr giveti nulirC o��hrCUrh[u Durru��rr: l:u all rcntti rcrei�r�h�• Bun�u�ticr ,hall hc hcl�l h� Ilurrm�rr ci�Iru�hr
<br />_ li�r trncfu e�f Lcndcr unly.lc� hr applicd tu thc .um, ,vcurcd h}' ihc Sr�unt�• In�irument: th) I.rn�ier.hull t,<<nud��l t�,
<br /> rc�ll��t anJ rrccivr alI c�f thc rcntti of thc Prupert��:.tnd lrl earh tenunt ul thc Pruprrt� .h:ill pa) :dl r�mti�iu�:�nJ wip:u�l i„ '
<br /> . . L.ondcr or Lcndrr'ti a�:cnl im Lcnder',u riu��i dcmand tu thc icn.uu.
<br /> ., � Born��vrr ha� nut crrr«t�d an} priur .�,.i�nment ut'ihc rcnt� an�I ha� nnt and ��dl nu� ��crli�rm:m� ,irt ihat ���,uIJ
<br /> pr<<•rnt Lrndcr fl•um rxcrri,ing itti ri�htti un�cr�hiti Para�raph I ti.
<br /> ' Lrndcr ,hall not h� rcyuu•rd t��cntrr upan, iahr runnul ul��r maint.un th�� Nn,��rrt� h�li,rr nr allrr gning iu�Urr ul
<br /> hrrarh tu f3��rzowrc Hu��c�rr. LrnJrr ur a judiri:tll) a�ipuintc�l ic«i�rr ma� du ,u .0 am �inu thcrc �. a hi�arh. :\m
<br /> ` applirau�mut rcnt.,h.�llnc�l�urruruattir:un d�l:wllui in�.diJalr.im uthrrri�hl urrcinr�h ul I.enJri- �fhi.,i.,u:nrn�nt al -
<br /> rrm�uf�he{'ruprrty.hall trntiinatr�+hrn ihr drht ururrd h��hr tircuruy In.trumcnt i,pcu�l in IuIL �
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