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<br /> � .� ��4 ��� _ � , ` 95 � .
<br /> ,. . .. . . . ' �0���. . :
<br /> ` � 7. Condeaanattaa. 'Itie procx�ds of ut►y a�vard or cLtim foa dumages.direct or rnnsequeatial.in connection with any �. `��:
<br /> � ` 'It
<br /> • .:� .r,'�:' . condemnatioa or nth€r mking of any part of the Property.or for mr►veyagoe in place of condemaarion;are hereby assigaed
<br /> . • and shaU�paid to Lender w the exteat of the fiil1 amount of the indebtedness that►rra�+��w}pa�d under the Note and this
<br /> .° , Sec�rity 1n�trumr�t� taIIder shaU a�ply such proczeds to the ceduction of the iadebtedness uader the Note and this Security .:.
<br /> • . . Inswment, fust to any,deWiquent s�atounts applied in the order �rovidod in Patagtaph 3. and then tap�p ayment oY . �.f.;,
<br /> ' �.,�`"�°,,�'� principaZ. Any appli�aaon of t he p m ce�d s co t he ptincip a] s h a 1 1 n o;e a t e n d o r p o s t p o n e t h e due date of the monthl y .
<br /> - ` - p a y m en t s.+x h i c h a r e t e f e m d t o i n h 2.or chan ge the amount of such payments. Any eacess proceecTs over an
<br /> � �r�daess esnd�the Note shall bs aid to tbe entitY l e g a l�Y entid e d thento.
<br /> :- -- � am�unt required to pay ell autst�diag' F -•
<br /> _ m
<br /> .•.,,r""'""`"'�. �. Fecv. �.ender may collQCt fe.^s and charges suthatized 6y the Ser�etary.• _ • .
<br /> . 9 Gm�[or acceieratinm of R�eb� , '` <.
<br /> ' (a)D�tani4. Lender may.except as limited by regula�ons issaed by the Sec�tary in ti�e case af payment def�Its, .�,.
<br /> , ` � ,:' Ik....�. require immediate payment in full of all suFns secured 6y ti�is Sewmry Insuumen2�f �-�.• .
<br /> u ns
<br /> � (i)Bon+ower defaults by failing w pay in gaIi sny montl�IY Fayment tequi�d by th9s Sec�iry r��TM"-s�'t�Srior
<br /> , , tu or nn the due da�oY the aext montWy payment,or
<br /> , �. (ri)Borrower defanits by fa�ing,for a penod of thirn+days.w ts�foms any other obHgations w�ed in tiiis
<br /> . " J � S �ty Instr�ent � � •.
<br /> .�;��-, ".� (b)SaIe�Wit�aut Credit Apprava� Ejeader slxall,.if pe�mitted byappIicable law and arith tLe prior approval of the kr.. ,.
<br /> . � Secretary.tecIuire immed►ate PaYment in fnll of all she swns secvred by this Seaaity Iosuament i� � �
<br /> ,. ,. �,ky � (i)Alt or pazt of the Property,or a benefrcial�t in a trust owQting al!or part af the Froperty.is.sold or
<br /> ' � othezwy�uansfea�d(othcr than by devise or desoent)by the Borrower,and •
<br /> ' ' (u�'Ihe Property is nat occ�ipied by the purchaser ar grantee as 6is.or her principal resideace.oz the purchasec ,
<br /> ,`,. ,' • :';., or grantee does so oaupy the Propetty 6ut Ais or her cred�t 6as not been appmved "m accordance .
<br /> • . . � with the requitements of tliee Secte�y '
<br /> �, , (c)PIo 1tVatver. �cira�mstances occur that would petmit Leadee to req�ue immediate payment in full,but Lender
<br /> - , :_.., .
<br /> , ` ` ' •,� w its ri ' v
<br /> �:. �. , dties not uire sach ayment9,l.ender does not aive ghis w►tb respecc to su6sequent e entc. .
<br /> _�..,. _.....�..
<br /> • •,
<br /> . . °, '� ' �. (a)-Regoi��ons oY Sat�t�r3!t.In mapx cirmmstances Yegi�.tatsons issued by the Secret�y w�l h�mt E.ender's i-�=.
<br /> . . � _. . „� rights,in the case of payment defauIts,to require im�iGate Paym"ent in TaII and"for�Clci�e-if�u+ot paid:. '�is ,
<br /> '•`<:�::�' Securi t y Insuument daes not suthorize acceleration or foreclosure i�not penmitted by regulations of the Secretary. u�,
<br /> . � ':��. � (e)1Vdoitgage Not Iasared. Borrower agcee.s that shoutd this Sec�uity Inshument and the note_se�ured thereby not f.:a�:
<br /> • ` ` be eligtb2e far insivance uader the Narionai Housing Act within g �ty�g from the •
<br /> `�,_ _ `.��: .�, ' iu •
<br /> ' ` Lender St 113 O ti0A Blld AO1W1tHSt2II�11 an in P H 9,r uire�m�etarp t m �```•
<br /> ', r�•'� ;; dau bereaf, maY• P S Y�B �S�P �1 P��:
<br /> ' ���a�•��� �... � fall of all sums�secured by this Security Inst�o�ment A written statement of any authorized agent of the Secretary A �.
<br /> .. `"`ji;;.F....: , �,�
<br /> � <<ry1'r' . ` from the date i�eceo�dEClining to ins�te tItis SeCUlily �_:=-
<br /> <,.,, datect sub ent to 8 men�ls �
<br /> i,l,.;•:�•: ` . �N
<br /> ,: ;� �� Instrument and the note secuted tliereby,s4a11 be deemed oonctusive proof of such iaeliglb�ity. Notwithstandin� �:�'
<br /> .:;,. .: : , � ---
<br /> the f��nimg,t�is optioa may not 6e exercised hy Leader w�n ti►e umavailability of ic�isaace is so2ely itae to _
<br /> ° ' •Lend.�s pailttte to remit a mottga�r�uance premium to the Secretary. . �_
<br /> ��:,•� :. , '10 �te�sts4en�en�. Borrower has�ti ght to be re�.�a�ed if Lender has required'nmu�ediate pa5�eat in full because of �-;:;,
<br /> :`;�; ,' �,,-�v a e�s f a s�u r e t o p a y a n a m o u n t d u e u n d e r t h e N o t e o��j'�:s S e c u i'i ty Tnctrnment �3 fi g l lt a p plies even after �Closuc� : -_-
<br /> . .;:,�:_..:::�'•. ' . —
<br /> pr gs�insntured. To remstate the 3ecarity Insb�-�'�Baaower shall tes�d���lump sum all amoun�sx�uired w. ...
<br /> ',�..��:.,` :' y b r l n B orrotir«�s accouttt c�rent inclqdin8•to the extent diey aze oBLgatio�s of Bormwer under this Securiry Tastrument, _ �`.
<br /> . , , foreciosute c�s aad reasonab2e and casromary attomeys' fces aR��penses pro�erly associated witA the forecios�ue _
<br /> :.'", : • pmc�ding. t�reinstatement by Borrawer,t h is Se c u r lry I ns a v me�z�n d t h e o b h g a ti o n s t h a t i t s e c u r e s s h a ll r e m a i n i n =
<br /> ) '�,,�:: .. � effect as iF Lendtr had aat�.�ired immediate payment in fuU. Hower•er.Ccnder is not req�ired to permit reinstatetnent if: . --
<br /> ,��,'�l`�l�_'.:,�..�1.•.'�',' —_-_'
<br /> _ ,,.,�1,;;,=,;; ; � (i) Lender has accepted reics�ement after the commeaaement of foreclosnre pra�c�ciiags within two yeais immediately —
<br /> p�eeedinp the comsnencem�2 of a current foreclosare l4ceeding,(ri)reinsratemetrr��S pz�clude.fosectosun en c�fferent �'-
<br /> .. .: _ i:•,�•�'� grounds m the fe�ce.oz(iii)refnsmrcment will adverse�y affect the ptiority of the L�r�eated by tbis.SecurIry T�vmen�
<br /> 11. Bo�s,�rES IVo! Reteased; For��ute by Leader Not a Wa4ver. Ezt.,°nsion ef c�r dme of ga�tient o: , —
<br /> `T:.:z-.�,;;.�"u';�' madification aff�anizatIon of the sums ss�r�by th�s Security Insromme�t granted by L+ender t��:y suceessos in iuterest
<br /> Y�' �,;;;�c�', of Batrower s'��not opeaate to celease t��ty_of the original.Ba�wer or Bormwer's succes"sor u�iaterest.Lender .. _--
<br /> - s�3`not be.r ued to commence proceed'ings aga�r ua_y successor in interest ar tc.-�!'us+e to extertd 6me for.�:..��ent or
<br /> - ��```•'��� � �'�zrwise mad�y amorti�ation of the sums sec�ued 8� �s.Secunty Ynstnunent[��:�eason of any demand�isy We
<br /> � .� �u =-
<br /> ��' �_'�. ortginal Borc��rr or Borraw e�'s successots in in t�r e s t P l n y f o r b e a r a n c e b y L e n d e r s,��i t e r c i s i n g a q y r l g h t o r��e d y s h a l l --_-
<br /> j��^;',. ... �,.,..,. � .• , �
<br /> : � pot be a waicqra�f or prectude t�e exete�.se+�f,ac►y right or remedy. _
<br /> y:�: �` 1Z. S�ors nnd Assigns Boim�;�Joint an�Several Liabfllty;Co-Sigteis. 1he covenants aad agceemeab of this � ---
<br /> •� . •:� ;•,_;'� Security Inst�ent shall bind and benefit the successors and assigns of Lender and Boaower,sub1'ect to Wc provisions of' ��.�__
<br /> -' � Paragraph 9(b). HorroweFs a�venant�and agreements shail be jvint ead severnl. Anp Horrower who co-signa this Secority • �,.--
<br /> I"������ ' � Instrument but does aot execute the Note: (a)is co-sigruug this Serurity Instr�ment oaly to mnrtgage,grant and wnvey that _ _
<br /> _�-t,+=:;":: ''�•:�~ Bonowe�'s interest in the Property under ttse tenns of tghis 5ec�iry Instrumea�(b)is not personally obbgated m pay the sums . • =�._--
<br /> '_�_,,��., ,.,° ; ��. ' secured by this Security Instrument;snd(c)ag�ees that Lender ead any other Borrower.may agree w extend,madify,forbear , �•-_
<br /> .. or make any accommodadons�with regar�to the tenns of this Seciutty Insttument ar'tHe Note without that Borrowra's , ��=�=�
<br /> ��-'� ' '��,�� consent � --
<br /> . .;;;':�.:_' ' �£ 13. Notic�s. Any notice w Borroner�rovEded fos in tbis SeCnrity Instrament shull be given by delivering it ot by � �:
<br /> . .:� �: �m� it by.first class mail unless applicable law res�.�ires nse of another method. 74ie rroace shall be dirzcted w tt:e ___-
<br /> . Property Address or any other address Horcower desigr�ax�by norice to Lender. My notice to Lender shall be giti�n by fust 1 -
<br /> ,�! � ci�ss mail to Leadef s address stated here�ar tury address Lender designates by nouce to Borrower. A ny no fice provt d e d ��F�-
<br /> ;�•' .'., ; for in this S�ity Iasuument shall be deemed to have been given co Horrower or Lender when given as provided in this
<br /> �.t�;;
<br /> ' � .. � Q��14.Governin$Law;Severa6�ity. 79�is Sesurity ]nstnunent slzall be goverced by Federal iaw and the Iaw of the �`'"?
<br /> . � jarisdiction in wtdch the Property is tocated. In the event that any provision or clavse of th�s Sec�uiry Insttument or the'Note .
<br /> . . ,.. �,, caaflicts with applieable law.such conflict shal!not effect uther pmvisions of this S�riry Instrument or the No:e wbich�am .�,��..,,
<br /> • • • be ven effect without the wnflicting provlsion. To this end the pmvisions of tl�:s Securiry Inswment and 8� Note are .:}�j5.,
<br /> � dec�.to be sever�b2e. '.
<br /> � . � 15. Bosrower's Copy. Bnrrower shall be given oae wnfomied wpy of this 5ecurity Instarr�nt
<br /> ' 16 Assignnient oY Renb. Borrower uncondi8onally assigns and uansfers to Lender all the rents and revenues of the
<br /> ^ °�. '• ' Property Hottower authorizes Lender or I.ender's agents to coll�ct the rents and revenues and hereby dit+ects each tenant of
<br /> • ' • thePcopeny to pay the�rents to i.ender or Lende�'s agents. However,priar to Lender's notice to Borrower bf Borrower's ,
<br /> ' � b�ach of any covenant or ageement In the Security Insuumcnt,Borrower shalb ooltert and receive aU rents and revenu�es of
<br /> ' � � � the Properry as trustee foi the benefit of Lender and Borrower. 'ihis assignment of rents constitutes an absolute essjgnment
<br /> • and not an essignntent for addidonal security only. ,
<br /> ' ' • If Lettfler gives notice of hreach to Honower. (a)all rents t+eceived by Boirower shall be held by Bmmwet as 4ustee
<br /> for 6enefit of l.ender only.to be applied to the sums secured by the Security inswmenr, (b)Lender shall be entitIed to .
<br /> � . collect and roceive ull of the reats of the Property:und(c)euch tenant of the Pnoperty shall pay aU rents due and unpsud to .
<br />--- � ' � ' Lender or Lender's ugent on I.ende�s written demand to the tenanL .
<br /> �� Borrower haa not executed any prior assignm�nt of ttse rents and has not and will not perfarm any act that woutA •
<br /> • .. • . pt+event Lender fmm eaercising its rights uader this Pura�aph 16. .
<br /> . . , .
<br /> • � ' ' I.ertGes shall not 6�reguired tn enter upon.Cske cottt�ol oft or m�intvn the Properiy befote or a�tec g►vin Qotice of
<br /> - _.�-- ---- _ � _
<br /> ° ' tireach to Boirower. However.Lender or a judccially appointed ceceiver may do so at any time there is a 6t$eath. Any
<br />=-- � applicadon of renu shall not cure or�vaive any default or mvalidate any other right or remedy of i.eader. 11ris assignment of
<br /> - � rents of the Property shnll temunate when the debt secured by the Securiry instrument is paid in full.
<br /> - . • (Page 3 oJ4 pagea) •
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