|
�� � ���
<br /> ���� -
<br /> i . --- -- _ �-
<br />, � _ � �
<br /> � , LQAN NO. 1 5 0 9 ? 1 4 2 1 3
<br /> � • date ot ttw manthty paymante,whkh aro rotrured ta in Para�raph 2,or char�gu ttw amount of such payvnaius. Any
<br /> axcess proceeds over an amaunit r�Qu1r�d to paY au oaustar�d,►�I►xlc�l�t�rinuss wxler the Nnte arxl thisti Sacu��y o--.
<br /> instrument shoU be paki iotha antity fe�alty eni�tic�.71 th:�r�to. —
<br /> 8.H�a. Lender may cdlaci foas e�xi clau�a�+W?ariz�l by the Secrai��ry. �,� ��.=-
<br /> o.Gtauna•ror acc.t�ra3lon or uabc. ��--
<br /> • (1�)D�b�utt. Lender may, excopt aa Ilmkeel by reqtdaticna lsauod by thre Secreiary In the case d�aymattit dulAUtte.�,
<br /> requke Immedlate paymeM In hdl d ali suma soctuod by th(9 Secur�y Instnlmen!N:
<br /> (i)Borrower defauJts by faAing to pay In tui!any mi�ntMy payment�equited by this Security fi�s�rcjmeni pr'Kx�
<br /> : ta or or�tha dua dato ot t!w r.o�ci monthly payrrecni,er .
<br /> ; (il)Borrowet do►ae�lts by faillnp.for a�erkad o!thUty days,to perlorm any ottser obllpatli�n:�ccnti�ined In thl��
<br /> , $ecurity Instrume�t.
<br /> • + (b�Salu Wtthout Cr�IR Approval. Lender shall, ff pormftc�3c1��appl�aWe law arx3 with tha Friur a{;prr.<<pl cf thR �
<br /> $ectet�ry,requlre lmrnediate paymont in full of aU the sum:�sacurQd by this Securky Instrumc�ni ff:
<br /> (i)A!1 or pan dtho Proporty,or a benef�ta!interest In a trttst o�wn(ng all or p�a�t oi the Property,i�scL:!cr
<br /> � Wherwise transfened(oth�than by devLse or dasceni}by tho 6crrc4ve�,a�xi
<br /> pi)The Propeny ts not occupled by thc►pu�chaser or Qr�ntaQ a;�hio or her principal r�akiunce,Qr tho
<br /> _- purchaser c�r nrantea does so occupy tho Pro�rt�bui his or htu credit Nas nu1 baen appra��Qd in
<br /> .: � accordance with the requirements o�the SecreYUr/.
<br /> (cj No W�Iv�.If cl�cumstarsces occur thut wouid petmft I.erxii�r tc requlre irnmodtutu puymt�nt In fup,�u�Lend�r
<br /> ; dc�es nat req�ire such paymenta, Lorutar d�rtaf watve Itc rt�hto w�ih r��pect tc subseGuQrtt evuntn.
<br /> (d)Ra�et�atiorts of HiJD Secretary. li�many ctrr.umstances re5ulntfan�i�sued by titie Secreturf will Iimlt Lender's
<br /> right�,E�i the case of payment defaultc.tc+iat�ut�r,immc-rJfnta paymart frr fui!artr➢forc3close'rf noi paErl.This Se�.writy '�'-
<br /> Instrumeni does noi authai�e acceler.�ttorr er fr.rr�k;stt��f1 nQi permiitc3d by regulatiwu c�f the Secretary. �"�-
<br /> ``;� �; (s)�lottya�e Not Insurad. Gor-rnwer��rr:es th�t�hcu4�th;s:ecuriry IRStn�ment artd U�a note secured thera8�nac _
<br /> - be eliglblef�r insurr�rrce 4rtderihc�f�cttfcvu�Ii�xtsicx�Actw�:hi? �� �k r s fromchedate herec�, —
<br /> ��5 Lc��ar may,ai its c:�"'..cr• 2rr r.c;^n�±�'w.rc.+h���a�Y1.Y.M.�in�A�c3�Ft S�.n?.7.iii�A 1QNTtedld.e paymen:in fuil of�ll �r,�_
<br />;.°� ,.� sums secured by ff���.,�'c4�fty IiT$:�-,:rrr�f�r.�t�?�si::ement of�nw a:.�wYzed age�,t of the Secr�,y dated c.Ts_
<br /> ...: f subse�u�rr t� s a �A Y S fror.T:'�e d:c�ha*zaf.�ecitnin�to insc�ir t�sis S�cu�ty Insi�umer�t arxf the ��:�.--
<br /> '� a note s�sun.?d ther�Y.sh�fl L�e cte�med ccx�cl�s�•e pra�f or s,a,1t ineUgib,lity.Nckw�t�ssw;..�ing the f�regoing,thts �
<br /> �j r q����mayr rtci�ex�rcised by Lender when t'.se r,:na� `��y of insurancs ts solely due to Lender's failure to remtt �;
<br /> �%' � a ma'��e irisur�rrce p�Emlum to tho Secrata�y. �
<br /> � � r wer has a ri ht tQ t1e reinstated if Lender has r uired I mmediate �t r�fu�l because �`-
<br /> 10�.Re�rstatemsn� Bor a g eq payme
<br /> .� of Borrcwver's faUure to�ayar�amount due undor the Note or this Securiry InMrument Thl9 rtght applles even after &�_-
<br /> -� �� foreclu�ure proceedi��g�are instituted.To relnsiate tha Security Instrument.BoROwer shall tender In a lump sum all =_
<br /> ! amounta rec�ulred to bring Bortower's�ccount current Includiny,to the extent they are obiipatlons d Barower wider __
<br /> this Security Insirument,foreclosure costs and reasor�ade and cusiomary attomeys'fees and expenses proper1y —
<br /> -- associated wkh the foredosure proceeding.Upon relnstatement by Bortower,thls Security Instnunent and the
<br /> oblipatbns that ft secures shall remaln In of4ect as N Lertider had not required Immadiate payment U fWl.However.
<br /> - � Letxier Is not raquued to perm�relnstatement ti:p)lerxier has accepted reinstatemeru after the commencement d
<br /> �O toredosure proceedtnps wkhi�two yeara Immediateiy Qreceding the commencement of a current forectosure
<br /> � proceedin�,(ii)rel�statemeM wlilpredude foredosure on dNferent grounds In the future.or((Il)relnstaten�ent wiU
<br /> � adversely affect the pdority of the Il�n cranted by this Security tnstrument.
<br />�,,� t t.BarovrcK Nat RetM�ad:ForbMranc�by l,�r�d�r iJot a W�tver. Extenslon of the time of paymeni or
<br /> u � moCitnc�tion vr 8mortQation oi the sums secured by iiiis$ecuri"ry insirumerti grarrieci by i.ender io any successor in
<br /> `i, IMeresi d Borrower shall not operate to release the Ilabiiiry of the original Borrower or BotrowePs successor in inierest �
<br /> '�� Lsnder shall not be requlrod to commence procsedings against any successor In interesi or refuse to extend time for -`��"
<br /> � payment or othervvise mod;fy amortfzation of the sums secured by this Securiry Instrument by roason of any demand �
<br /> made by the wiginal Bonrower or Borrower's successor�fn interest Any forbearance by Lender in exercising any right �
<br /> or remedy sNall not bo s�vaiver of or preclude the e�cerclse of any right or remedy.
<br /> 12 Sasccsssors and AtsiQns Bound:Jotnt ared Sever�l W Wliiy;Co�S89seers. The covenarus 3�ac�2greerr�er�ts of =_
<br /> this Se�urity Instrument shall bind acxt benef'd the successors and assigns d Lender and Borrower,s4b]ect to the -
<br /> provisicans of Paragraph 9.b.�orrower's covenants and agca.enr�ents shail be jdrn and sev�eral.Any BoROwer whe
<br /> co-signs ths Security InstrumeM but does not execute the No3e:(a)is co-signi�g this Secu�ty Instn,ur9er�oNy to
<br /> mortgage,grant and cenvey that Borrower's intetest in the Property t�nder t�ae terms of this Securit}r Insirument;(b)is
<br /> noi personally obUgated to pay the sums secured by this Security Instrumer�i;and(c)agrees that Lecwder and any other
<br /> Borrov�rer rray agrEe to exterxi,modify,fw�bear or make any accorrunodations withh�egard to the tertns of thls Secxuity
<br /> InsWment octhe Note witfwui that BorrowePs consent.
<br /> 13.Kc�dces. My notice to Borrowsr provided for in this S..flcurity Instntrnont shall be given by det�ering it or�y --
<br />`` } maiiing d by flrst class maA uNess applk�bte law�equires use of another method.Tho notice shall be directed to tha
<br /> � Property Address or any oiher address Borrower designates by notice to Lender.Any notice to Lender shali be gtven
<br />_=�- by first dass maY to Lender's address stated herein or any address Lender deslgnates by notice to Barrower.Any notice "�
<br />; "$. provided for in thls Security Instrume�t shall be deemed to have been fliven to Borrower a�Lender when yiven as �`-
<br /> provided in this Qard�r8ph. i:,-
<br /> � 14.Govamin�L.aw;Sewr�Wlity. This Security Instrument shall be govemed by Federal law and the law of the _ __
<br /> urisdiction tn which the Property is located.Irt the event that any provlslon or ctause of this Security Instrument or the '
<br />' ��. �ote conflicts w t i h appl i c a b l a law.suc h co r�i l�t s h a l l not a f fect oi h er provisions of this S e c t u i t y Instn�ment or t h e Note —
<br /> -` which can be gNen effect wftiiout the c�r�Ric�ny provision.To thls end the pro�vislons of thls Securiry InsWment and the �,�-
<br /> Note are declared to be severabte.
<br /> � 15.Borrower's Copy. Borrower shaU be given one conformed copy of this Securlty Instrumeni.
<br /> - 16.Assipnmert!o!Rengs. Bonower unconditlonalJy asslgn,and transiers to L�nder all the rents ancl revenues of �;:�
<br /> = • the Property.Bor►ower authorizes Lender ar Lender's agents to cdiect the renis and revenuas and hereby dtrects each
<br /> tenarrt of the Property to pay the rents to Lender or Lender's agents. However,p►ior to Lender's notice to 8onower of �.��=_.
<br />� Borrower's breach af�ny covenant or agr2ement in the Security Instrument,Borrower shall cdlect and recetve all re�ts "'
<br />� and revenues of the Properry as trustee for the benefit d Lender and Borrower.This assignment of renis constitutes an
<br /> absolute asslgnmant and not an assignment for add�lonal securiry only. �,�
<br />� If Lender glves notice of breach to Bonower:(a)aIl rents receNed by Borrower shall ba held by Bnrrower as trusiee F;_�`
<br />• for benefd of Lender oNy,to be applled to the sums secured by the SecurA�y Instrum�ant• (b)Lender shail be entitled to ��
<br /> , cdlect and receive all of the rents of the Property;and (c)each tenant of the Property shall pay all rents due and unpaid `--=
<br /> to Lersder or LendePs age�an Lender's written demand to the tenant. �r
<br /> Bc,rrov�er has nc�t executed any pNor assignment af th�re�ts and has rioi and wiU raot pertorm arey act that wc�;t'�
<br /> prr��nt�es�der from exerc�ing fts r�gftts under this Paragraph�6. ��`
<br /> ? L.e�dei shatl not be required to enter upon,take control of or maintain tne Properry before or after giving notice of '
<br /> � Eua2ch to Ea�ower.However,Lender or a Judic�afly appointed�eceiver may do so at any time there is a breach.Any -
<br /> a�pitcat�r�of rents shall not cure or walve any defauft or invalidate any other rlght or remedy of Lender.This z``
<br /> � ',� ass{gr�:ent of rents of the Property shall terminate when the dEbt secured by the Secu�city InsinuneM is paid in full. _
<br /> : -� FHA NFBRASiCA DSED OF TRUST 5�y5 �
<br /> fSC/FMDTNE//0691/(b95)•L PAGE 3 OF 4
<br /> �_ _ _
<br /> �:
<br />
|