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<br /> �":-� • 92- 1U0363
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<br /> -- _ p�ymeou,which are refemed to in Paragra 2.or change�he sunuw�t of such paymeMs. Any cacesc pmceed�over on
<br /> �. .-:j•.. �mount requircd to p�y all outstonding indebtedne►s under the Nae and thic Security In�aument shall be pNid a Ihe entity
<br /> ••• le�dly auitled U�enea.
<br /> , ,?';s:;y�:' -�-.�:' 8. Feea Lendermay colkc!fixs and cl�arges authaiced by�hc 5ecretary.
<br /> '�,�i�,.n " w,.., . 9. Crouads�or Acakratloa of DebQ.
<br /> '. , :,., (�)Dehul� Lender may.except as limited by regula�ion�iscued by the Secn�tury in U�e cua�of p�ymem drfaulro.
<br /> ,.::�.,.: rcquire immediate puyment in full of dl sums secured by this Security Inatrument if: _
<br /> - (i)Borrowerdetaults by folling to pay in full nny monthly puynrem �ryuircJ by thia Security Insuum:nt prior �� -
<br /> - : °F to or on ihe due date of the next monthly payment,or -
<br /> _e�1; (ii)Boirower defaults by fuiling,fbr a penod af Uiiny days.lo perform+�ny aher abligations conlain4M in thiz _
<br /> - �s.� , �-'t Secutity Instrument.
<br /> `^`;`"��� ' (b)Sale VYitbout Credit Approval. Lxnder shull,if permined by upplicublc luw and with the priur approvnl of the ��--
<br /> iu �;�_-
<br /> _-��`;��•;-�;��:��� Sec�+ewry,require immediate payment in full oi all the suma secured by thi:;Secuary In,trument if: �.�_
<br />-_ ��._� ��-;s�- li)All or pan of the Property.ar a bene6ciul interest in n trus� owning all or pan of�he Ptaperty. is sold ur �=�_
<br />__ _ •_*.q. •- �..� otherwise tra�nsfeme�i(wher ihan by devise or desccntl by thc Born►wer,and �'�
<br /> -- • =' r;�.� �•� ' (ii)The Property is not occupied by the pu�chaser or grontee as his or her princip�l residence,or Ihe purchaser '
<br /> •-.��� �� . -
<br /> �_,,,a�-�--.--._�,^,. or granue does so occupy the Property but his or her credit has not been approved in Accordpnce '�.:--
<br />=-���,,,.,_,,,,;�,;.� with the requirements of the Secretary. —_
<br />' �_-••��' Y- (e)No Waiver. If circumstances cecur that would permit Lender to reyuim immediate puyment in full,but Lender _
<br /> k;,� � dacs not require such yments,Lender does not wsuve its rights with respect to subseyuent evems. --�
<br /> -������.� (d)ReQuladeas af HCD 5ecretary. In many circumstAnces re�ulu�ion.r• issued by�he Secretury will limit Lender's ''
<br />;_�=�� � ;�; �� . righ[.�, in the cau of payment defuults, to re9uire immediate payment in full �nd foreclose �f not 'd. Thia� �_'-1'
<br /> +�,..•� ,�ft�'r=°_ - Security ln�wment Ju�ra nW uuthuriee uccelerauon or foreclosum if na pertnitted by mgul�tions of the ecreturp. � '
<br /> w �' le)Mort�ge NM Insared. Borrower s�gtees thut should ihis Security Inauument and�he note secu�J tbereby not _
<br /> ' •���' �`� be eligiblz for insurance under the Nationul Housing Ac�within 8 months from the �•�;,
<br /> y"" � � date hereof.Ixnder mny,at iGs option and notwithstanding unythin�in Parrgrrph 9,reyuire immedi•rtc puyment in a.-.
<br /> .-.���. fu l l o f o!1 s u m s s e c u re d b y t h i s S e c u ri ry l n s t r u m e n t. A w r i t t e n s t o t e m e n t o f a n y a u t h o ri z e d u g e n t o f t h e S e c t�e t t w �-;Y.
<br /> ` '�� datrd su6seyuent io g moaths from the dale hereof,Jeclining to insure this Securiry y
<br /> L.'� . �
<br /> _ ' � � Instrument and the note secur+ed thereby,shall be deemed canclu+ive pnwf of such ineligi6ility. Notwithxtanding -
<br /> '�t:•;: ' ��,
<br /> .. . ;3� s !he foregoing,this option may not be exercised by Lender when the unuvuilability of insurance iti wlely dua to
<br /> - ;1:`. •^ L.ender's failu�e to remit a mortgage insurnnce premium to the Secretury.
<br />- ' '�'j" 10. Relnstatemen� Bortower has a right ta be reinstated if Lender hn�;reyuircd immedic►1e puyment in full because ��
<br /> ,� �,�
<br /> ��r� �q� ;' �� of Borrower�s failute to pay an amount due under the Note or this Securi�y Instn�mem. Thi� nght uppljes even utt�:r - -
<br /> . foreclosure praceed'mgs are instiwted. To reinswte the Security Instrument, Borrawer shull tender in ai lump sum all �,s��;_
<br /> .-` - r ;t: amounts required toDriog tiorrower's uccount curtent inciuding,[o�he ex�em ihey arc ubiigutiun�ui'Bmruwei ua.ter ihis r=
<br /> . '�� �" .x,� Security Instcument,foreclosure wstti und rea�onuble and customary atturneys'freti und rxpen+ex properly associated with �`::��'
<br /> -� the foreclosure proceeding. Upon reinslAtement by Borrower,this Security Intitroment:u�d the obligationa ihat it secu�s �.,r
<br /> ' �•• j' shall remain in effect as if Lender had not re4uired immediate pnyment in full. Huwevrr,Lrndcr i�not required to�e�mi1 s�;
<br /> ,.:
<br /> � ' : s:+�•= reinstatement iE (i)Lender nas uccepted rcmstaiement after the commencemeru of'fomclo�ure proceedings withm awo -
<br /> �• ° �`�� ' years immediately prcceding the commencement of a current foreclosurr pnxeedinR, liil reinswtenusnt will preclude �
<br /> ��� �; ��� � foreclosure on differcnt grounds in the fuwm,or(iii) reinstulement will ndver.rly ut'i'ect the priarity of tlr:lien created by ��„_
<br /> 3 •�.�• ... .
<br /> this Security Instrument. �'°�=Y�
<br /> ' �,t"'�"�� 11. Borrower Nat Released: Forbeerance bZ l.ende� Not a Waiver. Extension of thc time of pAyment or �_u
<br /> ' �,�� ' madification of tunortir_a�ion of the sumt secured by this Security Instrument�eranted by Lender to any successor in in[ere�:t
<br /> t :`''t;,;'r� '` of Borrower shall not operate to rclease the linbility of thc ori�:inal Borrower ar BorrawerR successor in interest. Lrndet �s'-y�
<br /> 1 }j �g..
<br /> • . i ';�. •. shal)not be required to commence praceedings uguin,t:u�y,ucceti.or in interc�t or rcfuse to exlend time for payment or
<br /> � '` ?,` otherwise madify amonixation of tht:�um,.ecurcd by thix Securily Instrument by reuxon of uny dem:u�d made by tho -@-.
<br /> �•,'•: ;��,,- original Borrower or Bortower's su�cesso�s in interest. Any forbear�nc�by l.ender in exercising any right or rcmedy shnll� �"='"
<br /> �'-j''1' �� � nd 6e u waiver of arpreclude the exercise of smy righ�or rrmedy. �'*'
<br /> �"``'"' 12. Successors and Assigns Bound:Joint and Several Liability:('o-SiRners. 7bc covenunts und ngreementF o f
<br />. ;',;;; ,
<br /> this Securit Instrument shull bind and benefit thc xurresson und ussign+nf Lendcr•rnJ Burc�iwer,rubjec�to the pn>vision� �-"-,:
<br /> ;t:�.�;:,� of Paragraph 9.b. Borrowerti covenants :md ngrccmentc tihall be joint und .cveral. Any eormwcr whp cu-signs thi� �,_
<br />� ���,._.• � Security Insttument bue does not execute the Nvte: (a1 ix casigning thi�Srcurity Imtrument only tu mcxtgage.grum und __
<br /> � , convey�hAt Borrower's imen:.rt in the Rupeny under the lerms of thi,Srcurity In�trumrnl;(bl iti nut personally obhgated to ;��
<br /> ~ .��'�,''=`�-4 u the sums secured b ihis Securi� Instnament:and�c)a R�,�hat LrnJrr anJ any otlxer Bnrrow�r mn r rce to extend,
<br /> .s�-�..- P Y Y Y P " Y'B
<br /> : '^'.:"` ';•;F•F � madify,forbear or malce any accommodntions wit h rcgurd to�hr�erm.o f I hiti Serurily Imlrumem or t hc Note w•i t hou t t hu t �l=-
<br /> r�q,., Bomower's consent. �—--
<br /> �t,�'� '•'�^` 13. Natice.g. Any notire ro Bormwer provided ior in Ihi�Securily Instrumcnl .hull Ix givcn by dclivering it ur by
<br /> . ;.tip;...�.. .
<br /> . ;�,. . muiling it by fint cla+�muil unless upplicable 1•rw nyuires usr i�f:u�whrr mrth�xl. Tlic n�Nirr �hall 1►e directrd to th�
<br /> � ' },,� ' ��� property Addretiti ar any other address Borrower detiignutr.by �mticr to Lender. Any noti�e to LrnJcr`hall bc givcn by �. ..
<br /> �+�' �• ::{?� tirst cluss mail to Lcnder'+ uddrexr tiwted herein or any uddrr�, Lcnder de�ignatc. hy� notirc tu Borrnwcr. Any nutice
<br /> ..;
<br /> : .� . providcd for in this 5ecuriry Instrumem sh:�ll tx:dcemed to havc tken�;ivcn tu B�amwcr��r LcnJ�r when givrn as provided
<br />_ in this paragraph. K
<br /> ' 14. Governiag Law; SeverAbilily. Thi� Security Instrumcnt.hall tk Eovcmcd hy Hederal luv► and the law uf thc P
<br /> ~ �urisdiction in which the('roperty is lui:uted, !n Ihc event ihat uny pnwi.iun ur cluu+c�►f thi.S�rurity Imtrurnent or the
<br /> ote canflicts with applict►ble luw.�uch conflict�hull not alTrrt other provi�ium��t'thi.Scrurity Instrurmnt or the Note
<br /> • which cnn be given effecl�vithout th�cuniiicting provi�ion. Ti�ihi.enJ thr pwvi,iun,��f�hi+S�YUrity Instrumeni und�he
<br /> � . Nae ure drelurt�d to tie xverable. '
<br /> ;�.•�, ' 1S. liorrower'c(:opy. Borrow�r shcdl Fk given one cuntiorn�rJ ropy of'Ihiti Seruril��In,trunxm.
<br /> � ���� ' 16. Assiqnmeat otRents. Borruwer uncunditiunall� az.ign+and tran+fcn�o Lrnder all�hr rent�und nevenuec of thc `
<br /> , . PropeAy, Borrowernu[horizes Lendrr iN!_rndcr'+.+Eent+to collert di�rrnt.and re�rnue.und hereby Jireclti cach trnam i�f t
<br /> the Property to pay ihe rents to Lendrr i.r Lender+agrnt.. Huwiver, nrior tu l.�ndrr;nuticr�o Bnnnwcr of Bnrcuw•er; �
<br /> � breach of any rov�nant or ugrcemem in 1he Securily hi,�rununt.Burtawcr+hall rollrrt unJ rrrcivc all mnt�anJ Rv�nuc.of
<br /> �' the Property us tru�tcc far the henefit of Lrnder arni Borrowec Thi.a..�gnmcm�►t rnm�ran.titutc.un ai+sulu�e a�.ignmrnt .
<br /> . . �" :uid not an assignment for additiunal.��urity unly.
<br /> • --•^- It Lrnaergrvesno�ice oi oreacn w aorrower. �:,�aii rcm,nccivcu i,y ourtu��rr+i�aii i�t i�citi�y nunuwr�u.i�u,i�Y •
<br /> , for benefit uf Lenikr unly, to txx applied t.i thr.um�xrurcd hy �he ti�rurit� In+Irum�nC Ibl l.cnJrr�hall he rnliNrd to
<br /> collect and receive a0 uf Ih�rrnts of�he Praperty:•rnJ�r1 rarh tenunt uf thr F'ru�xm �hall pa�•all rcnt�duc;uid unp•rid tu
<br /> � Lender or Lender's agent un Lender;written drmund to thr tcnunt.
<br /> ' Borrower hns not executed any prior assiFnment M'thc rcniti and ha.nnt and ��dl n��l�xrti�rm uny arl th•rl woulJ •
<br /> � � ' , prevent Lender fromcxercitiin�it�ri�ht.undcr this P.+ragraph 16.
<br /> • . Lender�hull not be reyuireJ to enter upon,lakc contrul uf or m�mtain�hr Pn��xm txlure ur alier Ei��inE nuucr af
<br /> hrcach�u Bortnwcr. However. Lender nr a judicially appuintcJ r�:ccivrr may Ju.0 al an} Umr thcrc i.a hr<;uh. Am
<br /> , applicatiiin of rent�shall not rure or aaive any Jefault or imaliJatr any�nhrt nght ur rcmrJ�ut'l.rnJcr. Thi.a�.ignment
<br /> uf rents of the PropeAy +h•rll lertnin�te when thc JeM .��urcd by Ih�Secunty (n.trumcnt i.puid in lull.
<br /> ' ,��,•t.����qrv •
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