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<br /> 7. Con�emnatbn. 7tto pmcecda of any awnrd or claim for dnmagcs.dtrect or cansequendul in connecdun wIth nny
<br /> condemn�tion or other wkitig of any part of the Property�or for convcyunce in place of condemno�on.ut�e hereby asAigned
<br /> nnd xhall be patd to I.ender to the eztent o!tha tLll amount of the indebtedness that�+emainR unpatd under the Nou�and thla
<br /> Security InstruroxnG Lender ehaU apply such pmceeda to the raluction af the indebudnesa under trie Note ond this�ecurity
<br /> [nstrumen� fir�t to ony delinquent amounta npplied !n the order provided jn Pomgraph 3. and then to pmpaymcnt of �—
<br /> princ[pal. Any appUcadon of the raccedg m the princlpal ehalt not extend or postpc►ne the due dau of the monthly
<br /> puymente.which are rofemod ta in�aragraph 2,�r change the nmount of such puyment�. Any excess proceeda over an
<br /> emount required topay nll outstartdIng inaebtsdnass uader the Note ahall tw paid to the endty legally entitled therew.
<br /> 8. Faa Lender may coUect fees end charges authorized by the 5e�reUsry.
<br /> 9. Graunds[or AocdeTatdon oi Dcb�
<br /> ♦..�.�. .�. e .��.�.... •eo u-.�ta..i h.•.w...tod..�c ina�.w!bv tbw Cw�nrwrv io thw� �f navttwnt tV�!fatdta.
<br /> �NJ YWRLiM WiwM�Mr��Mw�r.«+.«....�....J �.......-- � .
<br /> �equire immalIata payment la fuU of all swns secured by thia Seswtty Inswment�f:
<br /> (i)Boirower def�ults by failIng to puy �y�ontbly payment raquired by this Security Inatrument pdor
<br /> to or on the due date of tbe aext monthl ont,or
<br /> (ii)Bomower defaults by failing,for a pedod of thirty days,to perfom►eny uther obllgations contatned ia this
<br /> Securlty Instrument,
<br /> �)Sak W[thout Credtt Appmval. Leader shall,if permItted by appUcable law and wItb tbe prior nppmv�l of the
<br /> �roqnire immediate pay�mnt in tLU of all tha suma secu�ed by this SccarIty Insavment if
<br /> or part of the P�rope�ty.or a beneficial intea+est fn a tcust owaipg aU ar��art of the Prnpetty.is sold or
<br /> othrrwise tra�f'ared(other- t�aa by davise or de.ccent)by the Bomnwer.aad _
<br /> (ii)The Pinperty is aot oocupled by the purcheser or granue as bis or hu principal residence.or the purchaser
<br /> or g�auue das eo oaa�py the Property but bis or her credit har► not bcen approved in acxordanee
<br /> with the reqnirements of the
<br /> (e?A10 Watder If clrcumstano�+°ccu�' at wouldpem�it Lender W require vamediate payatent in full.but Lender
<br /> does not reyuire such pa�ymentg,Lender does not waive its rights with respect ro subsequent events.
<br /> (d)Re$uls�tbag ot HUD Secnetaiy. In many c�rcumstances regulaHons iasued by the Secretary wiU Umit I.endei's
<br /> dgbts. m the case of paymeat defaWta, to requino Immcdlate payment in fu11 and foreclose if aot paid. 'lUis
<br /> Security Insttument das not authoriu acceleration or foreclosure if not permitted by reguladons of tha Secnemry.
<br /> (e)Mortgpge Not Ia�red. Borrower agree.v that shoWd this Security Instrument end the note secured thereby not
<br /> be eUglble for ir�asuranca under the National Housing Act within 8 �w?t� from tbe
<br /> dau hereof,L,ender may.at tta opdon end nonvIthstanding anything in Paragalh 9.re9uiro irnmedisce Payaaent in
<br /> tbll of sU sums secured by d�is Ser.uciry InRavmen� A writoen staument of euy authoriztd agent of the Sectwary
<br /> dated subsequent ta 8 �pn t� from the dane hcieof,decIining roo iasucc t�is aci.�tt-y
<br /> IASh7�I�A[Alld fI18 Q01C SCCUred tdare-6y.s1ie11 be deemed wnclusive pmof of such ineligtbiliry. Noiwithstaading
<br /> the fongoing,this opt�on may aot be eace�rcised by Lender when the unavailability of jnsurence ia solely dua oo _
<br /> Lende�s failure w remit a mortgage insurance premium to the Secretazy.
<br /> 10. Rein�tatemea� Bomawer has a right w be reinstatcd if Lender has roquired Imn►edlate paymeat in full bx�ause of
<br /> Boernwe�s faiUue w pay aa amouat due under the Note or tl�is Security Iasnumen� 71�s right applies even after fonclosure
<br /> nmooedings ana insdwud. To c+eins�te the Securlry Insorument,Borrower shall tender in a luenp sum all amounts requind w
<br /> bring Bormwe�'e aocount curnent ineluding.co the oxtent they are obligations of Bmrowa under t�Is Sxurity Iastcumen�
<br /> fomclosure costs and n�asonable and cuswmary attome�ra' fas and expeases properly assoclated witb the foreclosur+e
<br /> '�moeoding. Upon�inamtement� 6y Bor�wer,this Socunty Inatrument and the obligaHuns that It secuns shall remein in
<br /> �f�ect as if Le�tder had not roquired immediau payment in full. Iiowever.Lender is not�uind W pen[►it ceinstatement if:
<br /> �i)1Leader has ac�epud oeinstaument after the oommenament of foreclosune prooeedings witbin two years i�n�ly
<br /> preaed�ng tho oommencxment of a currcnt foreclosure pm�cediag,(ii)s�eiastaumeat wlll preclude forecl�sure on diffaent
<br /> grow�ds in the futuro�or(iii)relnst�temeat wlll advasely affa� t the priodty of the lien created by this Socnrtty Instrument
<br /> 11. Boseower Not Rdaxili Forba�ranoe by Le�ader Not a Watver. Bxtension of the dma of pAyment or
<br /> modification of amoctizatian of the�uma socured by d�ts SecurI Instrument granted by Lender to any sucassor m interest
<br /> of Bomowa ehall aot o�rata to release the liebtlity of the ori�aal Bmerower or Boirower'a sucr.essor ia iaterest [�ender
<br /> shall not be�nined w c:ommena proceedinge tsgainst an�qsuccessor in Interest or�efiise to extend tiine for pxy t or
<br /> othetvviso mod►ty amordzation of the awns sea�red by this Secudry Inswinent by r�eason of Any demend ma�la by the
<br /> orjginal Bonower ar Bamnwa's auccessosa in tntenst. Any forbeaxana by Lender in exerclsing nny right or r�emedy shall
<br /> not be s waivet of or pre�Iude the�xercIse of any r�ght o:remcdy.
<br /> lZ. Sao�ore and A�Bound:Joint nud Sevesat LfAbflttyi CaSlgnere. 'ibe covenanta�nd egc�ements of thia
<br /> Securhy 1ns�umont shaU bind and benefit the suxe.asors and ass�of Lender and Bonowu.sub�t to the provIsions of
<br /> Paragraph 9(b). Horrower's covenants and nts shall be jo�nt aad severel. Aay Bomoaer w5o co-signs t�is Security
<br /> Iastrwaaeat but does not execute the Note: (A is oo-sIgning this Securiry Insm�a�ent only w mortgage.gcaat and convey that
<br /> Bomowe�s interest in tbe Property under the terms of this Securtty Instcumcnt;(b)is not personally abligatod w the sums
<br /> • sxiued by this SccutIty Instrument;end(c)agras tbat_Len.der and any other Borrower m�yag�ne ro ext�nd,mod�y,fo�fiear
<br /> or meke sny accommodaaons wItG regard w the teans of�fiis Sccur3ty Instrument or the Noos without that Bornnwer'a
<br /> consant
<br /> 13. Notl�. My noHa to Borrower pmvidai for ta this Securlty Inativment shall be given by deliveiing it or by
<br /> mailtng it by first class mnil nnlessapplicabte law req�ires use of another cnethod. T6e notice shall be d,irated w the
<br /> Propscty Address or any other address Horrawer designatcs by nodce to Lender. Any noHa w L�ender shai�be�iven by first
<br /> class mail to Lendea's address stated hen3u or eny addreas I.ender desigaaLe�c by nodce to Bomowu. My noncep�v�ded
<br /> for in�Socuctty Instrumeat s6all be damed ro have been gtven tn B�nower or I.ender�vhen g[ven as provided In this
<br /> p 14. Governta�g Iawi�verubility. This Securlty Inswment sball be govemed b�yFedernl law end tha law of the
<br /> jvrisdicdon in wfiich the Prop�rty is locaLed. In the ev�nt that aay provision or clause of Mia Sccurity L�sawuent or the Noie
<br /> oonflIcts vvith appucx�ble law.such confl[ct shsU nnt nffect other ptevisions of this Security Insttument or the Nofle which can
<br /> 6a given efFoct without the oontlictU►g provision. To d�is ead the provisions of this Security Instcument ond the Nou are
<br /> declared to be severable.
<br /> IS. Borrovrer'�Cony. Borrower shall be Biven one conformed copy oF thia Securlty InatnimenG
<br /> 16. Assfgum�t ofRenta Borcower unoond3HonaUy ossigas ena transiers to i,enaer aii ciie nnffi and izvenues of ine
<br /> Property Borrower authorius Lender or L�nder's agenta m wllxt the renb and�evenues and hereby dincts eash tenant of
<br /> theProperty to pay the rents to Lender or I.ender's agents. However,prtor tn Lender's noflce ta Bomower of Bormwer's
<br /> breach of any wvenant or egree�nent�n the Securlty Instcumen�Borrower shall wllect and reaive aU rents and revenues of
<br /> the Pmperty as ttistee for the benefit of Lender and Bormwer. Tfiis usslgameat of rents oonsdtutes en absolute essignment
<br /> • and not an assfgntrtent for addlttonal security only.
<br /> If Lender gives noHce of breach to Borrower: (a)all rents received by Bomnwer shull be held by Boirower as husta
<br /> for benafit of Lenda oniy.to beupplied to the sums secured by the Securtty Insuumen� (b) Lender shall be entidal w
<br /> wllect nnd receive nll of the rcnts of the Property:und(c)wch tennnt of the property shatl pay aU rents due ertd unpaid to
<br /> Lender or Lender's ug�nt on I.ender's written demand oo the tenanG
<br /> Bomower has not executed uny prior assi�e nt of the rents mid hag nas nnd will not perform any act thnt wauld
<br /> prevent Lender irom exercising tts rtghts under thls��rogruph 16.
<br /> Lender sh�ll not be�quizcd to enter apon. mke wntrol of or maintein the Property before or after giving notice of
<br /> brear.h to Bon�ower. However. Lender or u judiciaUyappolnted recelver muy do so ut cu►y time there is n breach. Any
<br /> eppHrntion of rents ahnll not cure or waive any defuult or[nvalldutc any other right or remedy.of Lcnder. Thia a�signment of
<br /> rent�nf the Praperty shuU tem�inate when the debt secuced by the Securtty Instrument Is puid in t1ill.
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