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<br /> " � �. Condentnutton. 71�c pruccedx nf nny award nr claim for dn�nagcs.dircct or cnnx�ucntiai,in connecdon with uny
<br /> � ' c�ndemnntian ur other tufcfnII of uny pnrt af the Property,ar far conveyanee in place of'c�mde�nnatiun.are here6y atisiIIrted
<br /> � � and xhall bc paid to I.cndcr ta thc cxtent c�f thc fult mnount of the Indebtcdnevw that remulns unpuid under the Nate s�nd thix
<br /> Securfty InsuumenG I.ender Rhnll apply xueh praccx;da to the mductlon of the indebtedne�s uncler tlie Nae und thia Security
<br /> Inxwmen� firtit to ��ny delinyuent wnountx applicd in the arder provided in PumBruph 3, und then to prepnyment of .
<br /> prinaipul. Any appNcution of the procecd+ tu the principul nhaall not cxtend or postpone the due date of the monthly
<br /> '" puymenGv, whtch t�ne refemed ta in Puru�mph 2, or change the wnount of such paymenGs. Any excess proceeda over an
<br /> ' umount reyuiced to pay ull outxtanding ir�debtedness under the Note shnU be paid to the endry legully entitkd thcrcto.
<br /> . ..-;� 8. Fee�. [.,ender msy collect fees und charges authorized by the Serretary•
<br /> , ��.� 9. Grounds foe Accelerntion oi Deb� ' '
<br /> (a)Delau➢� L,ender may,except u.4 limited by regulauons issued by the Serretnry in ths cuse of payment defaulta,
<br /> ,, re�uire immediuce pnyment in fult of ull sums secured by tLis Security Inswment if:
<br /> (i)Borrower defaalts by fatlin�to puy in full s+c►y monthly payment required by this Securiry Insuument prior
<br /> � to ar on the due dute of the next monthly payntent,or •, ;.
<br /> ' : (ii)Bonower defaults by fniling,for a period of tblrty days,to perforn►anY other obligations contained in this �.y;^:
<br /> � S�ry InstrumenG •. '
<br /> • ' ; (b)Sale WiWout Credlt Approvai. I.ender shall,if per�nitted by appIIcable!aw and with the pnor appmval of the .�,;..
<br /> ' Sec�etary�requ&e immedIate payment in fuU of aU tl:e surns secured by this Securlty Iastrument if: _�
<br /> . oe rty� ,
<br /> .� � ot�UervvLse uansfetred(ather t6aa�by devise or diesce��by the Borro�d or part of the Property.is su(d or ,
<br /> � �
<br /> S �'�
<br /> .: __,,.-_ � , (g)'l�ee preperty is not occupicxl by the QurchaSer or gcantee as his or ker principal resldenoe,or the purcbaser •.;:•.
<br /> • ' ar grantee does so occupy the Property but his or her credit has aot been approved ia•aocordence ,
<br /> ;� �i� with the c�e.quirements of the Secretary .r�
<br /> (c)No Waiver. If clrcurnstances ocx�u tliat would�ermit Lender to require immediate payment in full,but I.eader f�_.
<br /> " dces not r e guire suchpayments,Lender does not watve its rights with respect to subsequent events.
<br /> � , ': i (d)R tions of H U D 3�mtars'. In many cIrcumstanas regu l a t ions i s su e d by t he S e c re t a r y w i l l l i m i t I.e n d e t s ��---
<br /> " rights�athe case of payment dofaults. to cequine im�nedtatc payment in.full and foreclose if not paid. 'lbls __
<br /> " ' Security Instrument does not authorize acceleration or foredosure if not perautted by regulations of the Se�s+etary. �r.
<br /> r� �� (e)Mortgage Not Insuned. Borrower egrees that should dus Security Insnumetit aad the notc secure��e�Y�n�oe —
<br /> be eligtble for inswance under the Naflonal Housln�Act within 8 months
<br /> datc hereof.Lender�nay,at i�optioa and nonvithstending anythtng in Paragraph 9.require uamed3ace payment in �
<br /> full of all sums secured by this Security Iastinment A wdtten statement of any authorized agent of the Se�xetary
<br /> _ � `' datect subsequent w 8 rtqnths from the date hemof.decl'uting to iasure t6is Securiry
<br /> - -. '�° �'`�° Insuument and the note secured thereby.shall be dee�ed conciusive proof of sucL iuollgtriitit�. Naiwiih�2an�aS . .
<br /> ° � the foregoing,tlas option may not be exercised by Lender when the unavailabiliry of insuranx is solely due to
<br /> � Lendei's failure w readt a mortgage insurence premium to the Se�retary.
<br /> .:.' . � 10. Relnstatem�tt Bomowea has a r�g6t to be reinstated if Lender has requ�ted'vnmedtate payment in ful!becauae of
<br />-�r�-- �'�::�• Bomnwei's faiiure to pay an amount due under the Note ar thia S�wrety Insuwnent This right appltes even after foreclosure
<br /> •;.���_ :i umccedings ere insHtutal. To reins�e the Security Insaument,Borrower shall tender in a lump swn all amounts requlc+ed to
<br />`,;,_�.,-wr;µ., bnng Borrowets axount ciurent Including,w the eatent they are obllgations of Botrower under dus Security Insuument,
<br /> r � foreclosure coxts aad reasonable and customazy attomeys' fees and expenses properly essociated with the foreclasure
<br /> • � � provaedin . Upoa reinsmtement by Borrower,this Security Insliument and the obligatlons thai it secures shall�main in
<br /> ng
<br />:`,",.. .�: effect as if Lender had not required immedlate payment in�u�. I3owever.I.ender is aot required to pem�it reinstatemeut if:
<br />` ,, , �,_� (i) Lender has accepted reinstatement after the oommencemeat of fonclasure prooeedings withiu two years imme�iately
<br /> � p�ifl�the commencement of a curnent foreclosure prnce�tnB�(ii)reinstatemeat wlll preclude foreclosure on diffeaent
<br /> -- --�°� gmunds m the fuwre,or(,iit)reinstatement will adversely affe�ct the pnority of the iien crca[ed by this Security Instru�u�u�.
<br /> ' 'Y.�� 11. Borrower Not Released; Forbearence by I.euder Not e W�eiver. BxtensIon of the dme of pa�►ment or
<br />._�:,.�a�.�
<br /> , ,-���„�-,�„�,� modification of amorti�on of the sums secured by tins Sec�uit�r Inst�ment granted by Lender to eny sucoessor in intaesc
<br /> _ ��, of Bornower shall not operate to release the liabiliry of the a�iginal Borrower or Bosower's suocessor in interes3. Lender
<br /> _�-��'�'$`°� shall aot bere quired to commence proceedin8s aSainst any sucassor in interest or�efi�se to extend dm$for paya►ent or
<br /> ��,�� othecwise modify amo�ti�atIon of the sums secured by this Security Inswment by reason of eny demand made by the
<br /> _ - -- original Bocrower or Baarowe�s successors Lt Intecest Any forbearance by Leader in exendsing aay dght or nmedy shall
<br /> -°�:��-_�;::, not be a waiver of or proclude the exen�se of any right or remedy ,�e�������nts of this
<br /> --`�F_y.� � 12. Suecessors and Assigns Bound;Joint and Several L�labittty,Co-Sfgners. -----
<br /> =��,- Se�rityr Instrument shall bind and benefit the suxessors and essi�gns of Lender and Borrower.sub'ect to the provistons of
<br /> -.'��_`°�_`.-;•.. Paragcaph 9(b). Bomower's oovenants and ts shall be jant and severaL Any Borrower w�o ao-signs this Secw'ity
<br /> " •-���: rtgag t and oonvey that
<br /> �,��. Instnunent but dces not eacecute the Note: (a is oo-sigaiag t6is.Se�urIty Insuument only to mo e.gcan
<br /> `�'��"'.'"„'.•_!,� Borrowec's interest in the P�operty under the terms of this Secunty Iasnummen�(b)is not personalTy obligated to pay the sums
<br />_�'.`-�'±�;;;;; secuce�l by this Secucity Iasuumen�and(c)agr�s that Leada and any other Borrower anayag�ro extend��Y•fo�fiear
<br /> '""���� or malce any axommodations with regard to the terms of dus Secutity Ias�ument or the Note widaut that Bornuwer's
<br /> `„ � cons�t
<br /> �". .:_
<br /> �=-"�'�'.`��%":�. 13. Nottoe.s. Any nodce w Bomower provided for in this Security Iastrument shali be ven by delivering it or by —
<br /> - - mailing it by first class mail unless appllcable Iaw requires use of enother method. 'IUe ao�ce shall be directed to the
<br /> ' P�+operty Address or any other address Borrower desigaates by aotice w Lender. My noSce w I.ender shaYl be gtvea by first
<br /> . . .� class mail to I.euder's address stated herein or any address T.er►der designetes by nodce to Borrower. My notice prov�ded -- _
<br /> .; �'� �� � for in thls Security Instniment shall be deemed w have been givea to Bomower or I.ender when givea as provtded in this —
<br /> areg�ph. �"
<br />' . ' i P 14. GovwaEn� Law;SeverabWty. This Security Instniment shall be govemed bY Fedecal law and the law of the �==
<br /> , ' s jurisdicdon in which the Property is locaoed. In the event that eny provision or clause of tW s Secuiiry Instrument or the Note 4-�:-
<br /> ' + � conflicts with applicable law.such conflict shall not affect other provis�ons of this Security Instrument or ttee l�iote which can
<br /> � * be�Iven effect v�nthuut the oonfltcting ptovIsion. To dus end the pmvisions of t6is Secucity Instrument and the Note are �',
<br /> . ; decIired to be severeblc.
<br /> „� " 15. Borrower's Copy. Bomower shaU be given one conformed copy of this Security Inshument �' �
<br /> ��1�,�%+��_'_� 16. Asslgnment of lients. Bomower uncc�nditionally a�c��ns and uansfers to I.cnder all th�e�b�an�d re�n�u�°r�f �-'
<br /> -.� --:.-- �l'Operty. 130lK1WC[8USROI1TiC5 LRI1QCf OT I.CRaCi S BgCC1I�Ev wataa uta tcttw w�u a�.��u..w�.......'�'°....�..:.�.....�_�..... �-
<br /> ' the A+operty to pay the renu to L�der or L.ender's agents. However,prior to Lender's nodce to Bomower of Botrower s
<br /> • � � breach of any covenant or agreement In the Security Instrument,Borrower shull collect and receive ail rents and revenues of
<br /> the property ss trustce for the benefit of Lender and Borrower. This assignment of rents constitutes an absolute�ignment
<br /> and not an assignment for addiaonW sacudty only.
<br /> � � If L.ender gives noace of breach to Borrower: (a)all rents received by Borcower shall be held by Borrower us uuctee
<br /> ' � for benefit of Lender only.to be applied to the sums secured by the Security Inswmenx(b)Lender shaU be entided to
<br /> ` collect and reccive all of the rents of the Property;and{c)each�enrant of tha Property shail pay all rents due and unpaid to
<br /> Lender or l.ender's agent on I.ender's written demand to the tenam
<br /> Boirower has not executed any prior assipnment of the rents and has not und will not perfosm any act that would
<br /> � prevent Lender from exercising its rights under this Paragraph 16.
<br /> Lender s6a11 not be requu�ed to enter upon,take control of or muintain the Property before or afiGer giving no6ce of
<br /> � � breach to Botrower. However,L.ender or a�udutally aRpointed receiver may do so at any 6me thec+e is a breach. Any ,
<br /> " appGcarion of rent�shall not cure or waive any default or tnvaUdare any.other right or remedy of Lender. This assignment of
<br /> rents of the Property shall terminate when the debt secured by the Secunry Instrument is paid in full. , , ,
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