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<br /> -- 4 pryment�,which arc refemed to in Paragrn�h 2,or chpnga tha emount of�uch payments. Any exceas proceeds over an _
<br /> _, omount required to pay all out:u�nding indabtud+�aR4 undar tha Nae and�his Security Inswmed shall be paid ro the end�y _
<br /> _ ,y;; - le�ally enuded thereta. —
<br /> ;•• � 8. �ep. Lender may collect fcea nnd churge�uuthnriaod by the Secrctarv.
<br /> '",°:�[. 9 (iround9 for Accelet�tMm a�Dab� �"
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<br /> , r.���" (U Defadt. Lender muy.exccpt oa Ifmitcd bw rsgulations issued by the Sccretary in the case of p�yment defaults. —
<br /> __ ' ��� •___ �e quine immediate pa ymem in full of oll�umH r�ooured by this Saurity Ingwment if: ��_
<br /> � `�• � �.• (i)Borrawer dafaults by fuiling to pay in fyll�uny mon t h lY paYment reyui r e d by t his 5 e c u n ty I n.�w m c n t p ri o r �.---:
<br /> � �:^:." ' to aron the dua diue af the nBat munthly paymcnt.or —
<br /> (ii)Bormwer dafuuUR by fuiling,fw e peciqd of th�rty dnys,to pert'orm uny other abligwions contuined in this �Y
<br /> ',�„-,:��r-'3:;,-< Security Insttument. _==
<br /> „'�_'�`�-{` ;4. Ib)Sak Wilbout Credit Approval. Lenda�shull,if permiued by applicAble law ond wi�h thc pr�or approval of the ���
<br /> -�■?•�"';�";"'' Secreuuy,require imme�iiats pAymsnl in fqll�of ulllhe sums secured by this Security Instrument if:
<br /> _ �"�b►1�..,�.,
<br /> ` (i)All or patt oF tha Ptopectv,or a booaficial interest in a truxt owning all or pnrt af tf�P�operty, is sold or �='=:•
<br /> �•
<br /> otherwise transfsmed(othet thun by davi�or descentl by the Bormwer.c+ml �,;
<br /> ---_-�r�,4adk-� -• (ii)The PropeKy is nat occupiad by+th�purchnser or grontee ns his or her principul residence,or the purchaser
<br /> _-"�-�-�a�r.�:.w. or grnntee daes so occupv cha 1'�vperty bat his or her credit Iws not been opproved in accorc�ance �,��;,
<br /> �,�: �. -..-:s with the requirementR of tha Ssc�tarpr. '
<br /> Y�L,;,
<br /> ."�,�.:,;;;�„y'i;t (c)No Waive� If circumstnnccs accun�ttat would pertnit l.ender to require imrrKdiate payment in full,bul i..�ender __
<br /> �� :_ =ti�. daes�w require suah pa�ymantA,l.cndar does not wa�ve its righ[s with respect to subseyuent even�w. �
<br /> =—_--�;�;L.-.,._';.:.:; (d►Re�uls�tWn�of HUD Secret+n�. U�.meny circumstancex regulations fssued by the Secretary will limit Lender� ��;,;_,
<br /> �'� :,s��~ rigAls. in the case af paymant.daf:wlta, to reyuire i�nmediate payment in full nnd fomclase ii notpa id. This
<br /> __'`���._";' ' Securiry Instnim�nt does nat authn�r.s acceleruuon or ioreclosure if no[permittcwl by regulations of the Secrctsuy. �,_.
<br /> ___ :�< .,_ (e)Morlgage Not Iqsared. Bc►mower agrees thut should this Security Instniment c+nd the note secured thereby not a-��
<br /> =�:,�
<br /> `;�*` be eligible fo� insurrnce undar tha�ational Housing Act within 8 months from the — _
<br /> ,,- �� �� dato hercof,Lendar may,ut ita apli�m arul nwwithswnding anything in Parngraph 9,require immediate pnyment in ;^
<br /> ,;__^;; �'r'�`���� , full of ull sums secu�cd by thiN Sarwity Instniment. A wrinen stACement of nny authorized agent of Ihe Secnetary �h�.{;
<br /> .;;��� ..> dated subsequant t4 8 mun:hs from the dute hereof,declining to insure thi4 Security ;yy,:;
<br /> �`� � � � InswmeM und tha nnta secut�i�ther�eby,sh�ll be deerned ronclusive proof of such ineligibiliry. Notwithstunding I-°;�
<br /> - ^ ��.y, the foregoing, this optian ma�� nnt be exercised by Lendcr when the unavuilubilily of insuronce is solely duc to 1�;,
<br /> �,'�;': - Lendcr's failu�to mmit u m�ngoge insumnce pr+emium to Ih�Secretary.
<br /> � � ' � 10. Reinstatemen� Bormwer bpr:u righ[to be reinswted if l.ender has required immediate pnyment in full because
<br /> �r��L'� � of Bortowar's failure to puy un amnunt�due under the•Nae or this Se�urity Instrument. Thi+ nght s�pplies even ufter _ _
<br /> fa�.!^sure pracee�tina� Am m+�iwtad. To rein.smte tM SecuritY Imtrument, Borrower shull tender in u lump sum all °:.
<br /> �� � ' ama�nts required ta bring Bom�werk uccount current including,to 1he extent they are obligut�ons of Borrawer under�his ss��.
<br /> Sc�curity lnsttument,fc�rccicrwna caxis and rewonable and cu+tamury nnomeys'fees und expenties properly ussocinted with ����
<br /> '`��• �" the fbreclosure pmoeeding. Upon minhtn�ement by Borrower,thiti Security Instniment and the obligntions that it secures �i��'
<br />�":�� shall remain in effcct c�if Lendar had not required immed'ate p�yment in fulL Nowrver,Lender is n�t required to Permit �`'_=
<br /> ::'� ` reinstatement if: (i)Lend�+r ha�accepted reinswlement n(ter the commencement of foreclosure praceedings with�n two o��
<br /> ' . yeazs immedialely prc�:eding tha cammencement of u current Foreclosure procesding, (ii) reinstatement will prcclude �i.-.
<br /> • foreclaau�e o�diflarent gmundF in the fuwre,or liii)rcins�atcmen�will advenely affect ihe priarity of the lien rreated by �-
<br /> . � this Securi�y Instnimcnt. �'-�-
<br /> I1. Bnrro���er Not Rele�sed: Forbeorance by Lender Not a Waiver. Extension of the cime of payment or �
<br /> � modificatian of umii�ip.�tinn.uf thc,ums,erured by thix SecuritX Instrument gronted by Lender to any successor m mtar�xt
<br /> � of Bormwer shall nnt apen�la to releus�the liubility of the originul Borrower or Borrowe�:+uccessor in interest. Lender =
<br /> ' � ` shall not be reyuin:d to cammence prnceeding+agu�nst au►y succe.+or in interc+t or refuu�to extend time for paymem ar
<br /> - �+.. otherwise m�xlify umc�rtiza�iun of�he +ums securcd My this S�curity Inswment by reason oi uny demand muda by Ihe
<br /> °'.. •- original Bormxer or 8urcower's tiucces�an in intemst. Any fbrbearnnce by LenJer in eaerri�ing any ri�ht or remedy shull
<br /> • nai be a waiver of�ir ptecludc the exercise of:u�y right or rcmedy. —_�
<br /> 12. Suoces�rs and AssignP Bound:Joinl and Several Lis�bilitv;Co•Siqners. Thc covenunts and ugreementn of �
<br /> " �his Securiy�Inr�rument shull bind and benefit the.uccesson anJ a,.iFn.of Lcnde�:u�d Borrower,subject to the pmvisions
<br /> � . ..•• � af Pazagraph•4.b. Bormwer'x covenunu and uFreement+shall be joint und +everul. Any BaROwer who co-s�gns lhis '*
<br /> . ;}•:,�;' : Secwity Instn�ment but does not execute the Nate: (u)ix cu-signing�his Securiry Instrument only ro mortgoge,gmnt and
<br /> , �� , cort�•ey thu�tJUrtnwer�intercst in lhe Propetty under the tem�s of this Securily Imtrumenr Ib1 ix ni�t penimally obligated to
<br /> ':_�,I • pay the sum� aecureJ by�hi�Security Insnvment;anJ Ic 1 agrcr�that l.rnder and uny other Bum�wer muy Agree to extend,
<br /> . •,. modify,fart�eur or muke any uccommodation�with re�turd to the terms oi'�hiti Sccunty Inx�rumen[or ihe Note withaul�hat _
<br /> '-� Barn►w4.riconscnt. _-
<br />� � :,�; . 13. Notices. Any notice to Borrower provided for in Ihi�Securit�•Instrument sball Fx given by delivering it ur by -
<br /> mailing it by fint rluti.ms�il unleti.upplicablr luw n�yuire. ux uf unoth�r me�hat. The noucr shull be direc�ed to the
<br /> ' Prc�nerty Address ar any uthcr adJrc�s Borrower dc.iFnaces by noticr to Lender. .Any no�irc�o l.�nder.hull be given by
<br /> fin,t cluss muil tn Lrndcr:uddre.. ��uted hercin�tt uny addre�s Lrnder de.ignulc. hy nutirc lo Burrower. Any notire
<br /> provided for in Ihis Sccurity M�trumrnt�hr�ll hc deemeJ to huvc lxrn given to Bormwcr�tt l.enJer when Eiven us provided ,
<br /> in this psuograph.
<br /> 14. GoverninR Law;5eve�abilifv. 'fhis Securiry Instrum�nl .hull Ix E�wcrned bp Frderul laN• und thc law� of the
<br /> juri�dietion in which the Propeny i.I�xated. In Ihc rvrnl Ihal any provisi�m or cluusr ot thi.Srcurity In�tniment or the
<br /> ''�i�'•� Nate conflicts with up�licuble law•.�u�h runtlicl tihall nut aflert uther pr��vi�ionm ot'Ihi,Sccuriry Imtrumenl or the Notc
<br /> ', whinc�un he�iven eftcr�wi�h��ut the contlicting provi��on. Ti�thi�cnd�hr prnci�ion+��f�hi�Seruriry Instrument und Ihe
<br /> Note un:dcclamJ w he�everaMe.
<br /> . � IS. Borrower's Cnpy. Burrou•cr�hall tx:�.i�•rn�mc runt'ormcd c��pr uf'dii,Srrurity In.trument.
<br /> • 16. Aatiigament of Renla B��rmu•cr unccmdi�iimally a.�ign,and tran+ter+�o l.cnder ull�hr rcnt+and revenuea of the
<br /> • Property. Burrower uuthori�e+Lendcr or LcnJrr.agrnt.tu cullect ihr rents and rcvrnur�•rnJ h�rrby directx earh tenunt o( ,
<br /> ' the i'mpcny to puy the rent+�o Lender or Lcnderk a�cnt+. Huwevrr,priur to Lrndcr:nutice to Bixro�ver oi&irrower: ;
<br /> brenrh of any co.•enunt or agreemcnt in tlx Srrunw In�trumrnt.B��m�w.r+hall collc�t anJ rrcei��e all rents und revenue+ot�
<br /> ' the Propeny u��rutitee for the henetit nf Lrnder anil li��rr<iWCr. Thi.a.+i�nmrm of trnt.comtitcle+:m abwlute a+siFnment `
<br /> . . . und not nn a�siunment fur udJitional�rcuritv onlv.
<br /> If Lender give�nutirc af brcuch to B��m���er. �•r►:dl rcnt�rcr�i�•eJ hy Nom�a�cr�hall tx hcld ny tfarmwer a+cruu« '
<br /> for benefit of Lrndrr only,w be applied tu�he,um.��curcd hy thr Srcunt�• In.trument; Ih)Lendrr �hall be entiticKi ti�
<br /> collect suid receive aU��f'the rcM�of�he Pn��rty:und Ic l earh tcroam uf thr Pfo�(IV�I1�II F1J)':III ICOI�IIUC and unpa�d to
<br /> Lender or Lcnder��agem on Lrndrr�wriurn dcmund Iu the t�nant.
<br /> Bortower hu.nut exrcuted any prii�r as�ignmcnt uf�hc Rnt�and h•r+ not und w•ill na� �xN��m� :my xt thut w�ould
<br /> , prrvent Lender fn►m rxen i�in�it�riEht�under thi�F•rragraph I6.
<br /> ' ' Lrnder shall not tx nywreJ to rnter upon,lakr comn�l ul'ur maintain the I'ro�xrt� tx lun ur after givmg nuuce ��(
<br /> brenrh to Borrowrr. Nowrver. L�nder or u judicially�p�►imeJ r�tiri�cr m•r�� Ju w al :m� umr thcrc i� �brcarh. Any
<br /> � +�PPlicution uf rcnl��h•rll ni�t curc��r waiv�any ikf�uU or m�aliJatr�n}athrr riEht or rrmrd��ol l.rndcr. 7ri.a�•i�nm�nt
<br /> of rent.of the Propeny.hull�emm�n�c wh�n U�e Jebt.ecurcJ hy the ti�curit}•(mtrwnrnt i.paid m t ull.
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