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The proceeda of any award or clnlm far danwg�.direct or con�equentlal in connectlon with uny condemnaaon or other tuking of any part of tho Property�or for conveyance in Qluce of wndemnat�on.ure hemby msslgned and shalt be paid to I.ender to the ext�nt of tha fuU umount of tha indebtedness that rcmnids unpuild under the Note and this Security Inawment 1.¢ader shaU apply suoh procads to tho reducdon of the lndebudness under tho Note and thta Secudty in9mimenti fir�t to any delinquent umounts upplled ln tho order provlded in Pdrugraph 3. end then to prcpoyment of pr�ncipal.,An applia►don of We p»cceds to tho pdncipul ehNl not extend or posqmne the due dnu uf the mor�thly poyaients,wt}�ch�e refen+ed 4o in�Paragraph 2.or cbengc Wo umounc of such puymenta. My exceag proceoda ovcr cu► amounr�+equired w puy aU ouuutttdttig indebudnes9 under the Note shnl!ba puid ro tho endty legally entIded therero. & F�e�..Lender may ooUxt fax ond chnrgea authortzed by the Secrctary. 9. Grouoda tor Acoeksatbn ot Deb� (a)Odault, L,ender may.except as limited by reguladona lRSUed by the Secretary in the case of puyment default�, requlre immeQiate payment ln tt�ll of aU aums secured by thts Securtty Iastiument if (i)Sorrower defaulls by faUing to pay ia fuli any manthlY pnyment requLpd by ihts Securlty Utstrument prior w or on the due date of the neat monthly payment,or (U>Barrower defsults by faiUng,for u pedod of thirty days,to perfarm nny other obligatlona wntained in this Security InstrumenG (b)Sak W[thout Credit Appruvpb L.ender ehaU,if pemilned by appllcxtble law and wlth tbe prlor agpmval of the �,require immediute payment in fWl of aU the suma secured by thia Suurlty Insm�rnent lf: ��(ot�her tftan by devlse or d�tj by th Bonowe gttr dl ar part of the Pc+operty.is sold ar (ii)'the pcap.,"rty ia no!oxupia!by the purcheser or gmntee Aa hig or her prindpal restdeuce,or the purchsser or granue does so occupy tha Pnnperty bat his or her credit has not bcen approved ia accordance with the regulremeat�of the Saaetary. (c)No Wwivw: If circumstartoes accLr that would pelmit I,ender w require immediate payment in full.bat Lender dc�s aotrcqu�ire such pay meacs,Lender do�s aot waive its dghts witb�espect tn subsequent events. (d)ltegu4tloms of HUD Secret�rY. In many circwnsteaas regWattoas issued by the Secretary wiU limit L,�de.�s dghta, in the case of payment defaults, to reyuire Lnmcdiate payment In fuU and foreclose if aot paid. ltiis Socucity Insuument dces not authorize acaieration or foreclosure if aot permiued by regnladona of the Sx�etary. (e)Mort�ge Not Insured. Borrower agrees that should this Socurity Insuument aad the note secu�ed thereby rtot be ellgible for insurence under the Nadonal Housiug Act w(thin 8 mo�tths fmm the date hei+wf.L.ender may,at its opdon end notcvItbstandIng anytding tn Paragraph 9.roquire immcdIate paya�ent in full of all sums securcd bY this Securlty Insunment A wriroen statement of any nuthorized ageat af the Secm,tary date�l subseque�t w 8 rtqnths from the date hereof,dxliaing w Ins�u�e this Savritry �nxtrument and dte note securod thereby�sha11 be d�conclusive proof of such iaeligtbiliry. Notwlthstand'mg the foragoing,this opttom may aoi be ea�enisai by Lender when ttie unsvailability of insur�nce ia solely dae to L'ende,�s feilure to nemit a mortgage lnsurance premium to the Secreuvy. 10. Reim�kmmt Borrower has a dgbt to be ninamted if Lendu has required i�edlaze payment in fuli becc�use of gonow,u's gell�n to pay an amount due under We Note or this Security Insuumant Thfs dght applies even after foreCloaure pmoeedings are instiNted. To reinatate!da Soctuiiy Instrument,Borrower shall under in a lump sum all amounta nyuired w bri�g�Bomowe�'s account r,unent including.to thc enteat they are obligationa of Bo:mw�r under�his Sewrity Iasuument, foreclosura costs aad nasaaable and cus tuy attomepa' fas aad expenses pmperly �ssociattd wtth the forxlosure eff�g U n reinstatemeat� by Botmwer�, this Saudty Instrument and the obllgadona that it socures shsll cemain in if I.end�cr hwd na n�yaircd tcnmediate paymeat in full. However.Lmder►s not roquirod to pemiit c�einstatemeat if: (i)I.eada hay aooepud reinspuement aftcr the commenameat of fareclosure proo�ings within cwo yeazs iinmediaoely preading the oommenatnent of a curr�nt fonclosurc pmceoding,(ii)�+einstatement will p�+aclude foreclosure on dtffar,�t gmuads in the tunue,or(iii)reinst�tement wlll advasely affa� t Wa grIon'ty of the IIea creatad by this Sewriry Instrument • il. Bomowtr Not Rdaroed; Forbarana by I.eadet Not a Waivtr. Sxtrasion of the da� of payment or modiRcadon of amardzedon of d►e sums sa�uc+ed by this Secudty Insauma►t gianta!by Lender to aay suooessor in iata+est , of�wer ahall aot operate to relaise t}xi l�ab�ily of the o�ig�nel Horivwa or Borrower's sucoessor�n 3n�. L�d� sha11 not be uired to commence prooeedin$8 a8einst��►y suceasor in inta+esi or refnse ro e�uatd dme for pa�nent or � otheKVise mod�'i y�on of the sums sa�u�ed by tt,is 5acudty Instrument by reason of any demar,d by tbe orlg�al Bormwer or Borrowar's suoasaors in intaest E1ny fosbeamnce by I.ender in exea+cIsing any rlght or cremedy ahili aot be a waiver o8or preclude tho eaercfso of eny dght or nmedy. 12. Suooe�ors�nd Asei�n+Boand;Joint wd Ssv�rp!L�tbflttyi CaST�ne=a. T6e covenants aada�+ee os of this Sccueiry Iast�ument shall bind at►d baie&t ti�e suocessors end assigns of I,ender end Bornower,subjnct to the provisions of Pa�ph 9(b). Bo�tuwe�g oovenants aztd menta shall be joint antl�everal. My Horrowet who cw-slgns this Securlty Instntment but dues aot execux the Note: (a�co-sl�tl�is Sea�dty Iasnunient only w mortgage,gc�u►t and con�ey tt�at B�iawet s intenst in die Pmperty under the tera�s of this§er.�rlty InyWmen�(b)is aot peisonalCy obllgated to pay the sua�s secumd by this Sacuriry Iastrumen�nnd(a)agrees that Lender and eay othas Banower may a�e w extend modify.Yorbear er make any eceorriawdadons wltb regatd to the teims of this Securiry �nsuumcnt or the Note wimout that Bo:rawe�'s cousent 13. Nottoes. Any noda to Borrower vtded for In tG[s Secuiity Insuument shall be Riven 6y de8veting it or by maillng it by first cictss ma[►unlessappli le law requires use of another method. 1he no$a shall be dIrxted to tt�ee ' properry.Address or any other addrtss Bomower d�aus by nada to Lendcr. Any noflce to i.ender shall be given by fi�st �l�ss mail to Lende�s addr�ess steted haein or eny adMess Leatder de.cIgnutes by notFa to Bomower. Any�odoe� pmvidcd for in this Security Inctrumsnt sLall be dcemed to have been givea to Bo�mwer or Lender when gtven as provtded in this ph �14. Goyerot�Lsw; Sevqrabn[ty. 7his SecurIty Inshumatt shall be goveined by Federal laa and tho Inw of the jurisdicHon itt whkh the P�nperiy ia tocatod. in the event that any provls{on or clause of tWs Securlty Inshvment or the Note conft;qs with appIIcable law.such mouflla shall not affoct other pmvisions of thls Sawity Instiument or dte Note wh[eh can beg�ven� effect aritttout the conflicdog prnvision. To this end the provisions of this Se�uriry Instrwnent and the Note are declared ta be sevembiG 15. Bonuwei's Copy� Bomower shall be given oae conformal copy of this Secunc 'ry Insttument t� �nment ot Bmfa Boanwe:unoondttionally assigns and transfers w Lender aU the rents and revenues of the Property. Bomower cwtiiorizes Lendar or La►drx's ogents to wRect the rents aad nevenues and hemby dirocts e,ach tea�nt of thepireperty to pay the nnts m Lender or Lender's agents. However.prior to Leadc�'s eotioe to Bormwer af Bomowe�s bna�cb of any oavenant or agraement in the Secwiry Insuumen�Bore�o�ver aball aollect end roceive all rents and revenues of the Roperty ag trusiee for the benefit of Lender end Boirnwer. 'lt�is assfgnment of cents consatutes an absolute assignment and not an assjgnment for oddidonal security only. If Lcnder gives nntice of bieach to Borrower. (a)all nenta xeoeived by Bo:mwer shsll be held by Bomower as hustx for benefit of Lender only. m beappliod W the aumc secured by the Security Insaumen�(b) [.ender shnU be entided to oollect end reoeive all of the t�nta of the Property;end(c)each tenant o4'the Property shall pay all rents due and unpa�d w Lender or Lender's agent on Lec►de�s wriuen demand ro tAe tenant ° Brnrnwer hos noi executcd any prtor assignment oF the�nts and !�s not and wW not pedoan nny nct thut woutd prevent Lesede�r from exercising ito righta under this Paragrnph 16. Lender shull not be r�oquind co enoer upon,mlre control of or mnintain the P�opaty before or after�ving no�oe of breact�w Borrower. However.Lender ar e judtctallyapported recciver mny do so at siny time there Is u breacli. Any appUcadon oi rents shall not cure or waive any default or invglIdate any other right or remedy of Lertder. This assjgnment of rents of the Property shtill taminnte when dte debt secured by the Socurity Insavment is paid in tWl. _ (Pagt 3 of I poges)