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<br /> � � pay�.wnich ane�et�a co ia z�change uK amo�ni at surh paymrnu: E►ny�x«ss pco�ds over a� , �
<br /> --_=a � amount n�uued to pay all autti�tanding�edaess undcr the N�te and this Secnrity Inswmeot shaft 6e paid to slx entiry
<br /> —=`-,JT� kgattYeadtkd thereta � . , . ,
<br /> - ---_-- � R Fees L.ettdetmay wlktK fees attdch�rges authorized by ttie Seietetary. ,
<br /> _ • � --ri'•�: 9. Grwad�fot A�a�ba�atia�at Debt. ' -
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<br /> �,•:�-: ` ts)DefaWt. L�Wer may.eacept as limired by ngWations issued by the Sec�+et�Y in thc case of payment defauits. � _
<br /> _�L,;, n�q�ue immedim paymtn�in full of al!sums secuced by this Security Insmunent if:
<br /> ���_-��' ' f i)Bmmwer defaWt4 by fai#ing to pay in full aaY a�oathl}PaYmsn`-tetWi�{�Y fhis SeCUiitY�UmeAl�ia =-- ------- -- ---
<br /> -- _ _ toor on tbe due datc of the flext montl�tY PaYme��os . _ . -- -
<br /> (ii}goaower defatilts by failiag.for a period of thuty days.to perform any other abtigatiats contaaKd in this =
<br /> _ --�' SeCluity In,Stru[rieAk ` -"�� --
<br /> � ::;:' (b)Sak Wittioaf C�edit Approval. Ixnder sha11.iF permitte�l by appJicable law and with the prior approval of fhe �-.�-
<br /> - � ' Seccetuy.requ�immediate payment in full of all the sums secu�ed by t6is Security Instrument if: ! -
<br /> • •�:="-� fi)A!t ar paze of tlfe�roperty.or a b�eneficia!inmrest in a trust owning all or part of tAe Pnaperty.is soId or =_
<br /> �� : aherwise tr�nsfe�ed(other than by devise or desaeny by the Borrawer.aad _�-_----
<br /> - `�'•�_::, =
<br /> . tii)TAe Ptoperty is not accupied by the pucei�asa or grantee as his or her FrinciPa!resfden�e.ar the Panfiaser -==----
<br /> .:�s,�;�..., or g r e nnx does so ocea p y [he P t o p e r t y r 6uE tns or her credit has not been appmved in accordance �=-sa�_-
<br /> - �`' rt-T with tire tequirements of the Secretary. �-�-�--���•�+:
<br /> • "� , le1 No Waiver. !f circumstances occur that would pem�it Lender w r�equire irrune�iiate paymenc in fnit.6ut l.endes ;�-
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<br /> .R;>:•:'-��-,, dces not sacii ents,Lenderdoes not waive ixS rights arith�ct to subsequent events.
<br /> _ �.,...�^_.-.::�,.-: ie4aue PaYm w�,• �,:,°--
<br /> ,:;��,�,i:��;;._ , (d)Re6ulatloas dHUD Secretary. In maay circumstances regulations issued by the Sectetary wili limit L'eader's �);��t:_;A�-
<br />, � :�''+_�;z...:° :..E �.� right�, m the case of paymeat defanhs. tn requiie immediate payment in full and forectose�f wt paid 7i�is -:...---�
<br /> -e'-'-� ' �' _ . Sec�uiry tnsmrment does not authorize acceleratian ar foieclQS�re if nat iued b tations of tGe .`:� .
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<br /> ,�, , ,i _ . kl Mort�e Nat Wsured. Bon+ower agrees that shoWd this Seauity Instrument and the note secured thcreisy nut -
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<br /> F:±::•...'- . , be eligib(e for insurance under tlu National Housing Aci witian 8 woatbs �� ��•`
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<br /> :1!''^-s�-• `' date heceo�i.endcr may.at its optian and nawithstanding am-t�.�g in Pdragrapb 9.requ'ue immediate payment in '�.;
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<br /> ' �:'�"��'' : , fuli of a11,sums secured 6y this Security Ins�umen� A a�ax�Statement of any autharized a�ent af the Secretary �'•�`,�; :
<br /> �., ' .� ' _. ` dated subsequent to 6 �nt� � � �-r,�the date hereof.declining to insure this Securiry
<br /> '- - • � (a�CUment and the nate secured theteby,shaU be deemed.�tusive pcoof of such ineligibil'try. Nptwithstanding =.
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<br /> • � • ' thz focegoing.this option may not be exercised by Lender•c�3ten the unavailability af insurance is sc3tely dQe w } _ -
<br /> ` � ' Lender's failune to cemjt a mortgage insurance�rernium ta�Secretary � _`
<br /> - • ' � ` 10 Relastatemenf. Borrower has a aght io 6�r+euutated��er has mqu'sred immediate paymen[in faS�because �t';,,�;'
<br /> � � ` , _ � of Bomower's faiture to pay an amount due under the•I�iote ar�Securiry Insuument. This right applies even aftec , :e��_
<br /> , • foneclosur� proceedi�e$s are �naituted. To reinstate the Securir};�:=�trumen� Borrower shall tender in a lump sum ai� � • •_y��
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<br /> amounts requtred to bnng Barrower's•account current includirtg,to the eatent t�ey.are abligations of Borrower under this ;,�� �� '��:��
<br /> � ' Secnriry Inmumenti foreclosure cosu and reasonablc and customary attomeys'fees and expenses properly assaciated with :�'�:,��' , �--
<br />� � ' the foreclosure proceeding. Upon ceinstatement by Barrawer,this Seetuity instrument and the obligations that it secures ' �, ' ' �•-��;��
<br /> � � �'�'�� ' shall rcmain in effect as if Lender had not required immediate payment in full. However.l.ender is not requireA to peanir� � -`'"` -
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<br /> . . reinstatement if• (i)Leader h�s accepted reinstatement after the c��r.menc�ment of forectosure proceedings withuti twa . ���P �
<br /> '�''�:r;�; years immediatety pmceding the commencement of a curmnt fi�c+3.iosure praceecting. (ii) reinstatement wil� preelude . ,'��'iA'i �
<br /> foxeclosure on different gounds in the fmum.or 4�iil reinstatement'cti1l adversely affect the priority of the lien created by , - `"`,�
<br /> , ' this Security Inr,trument. � �. �
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<br /> .� • 11. Barower Not Released: For6earance by Lender Not a Waiver. Extension of the time of•payment ar . . :� ��
<br /> ' modification of amortizadon af tho sums secured By this Securiry lnstrnment granted by Leade�to any successor m�nterest � ' F' �`
<br /> of Borrower shall not o tc to release ihe liabili� of the uriginaf Bafrawer ot$arrowef's successor tn interest. Lender •r:"•�`'
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<br /> ' shall na[be requir�d to commence proceedings aga�nst:my+acc��or in interest ar refu�e to extend time for.payment or � , _
<br /> ' �'; � otherwise mudify amanization of the sum.�secured by this Secc:�:y lnstrument by rea��sn of any demand made by the -
<br /> ' ,- • � original.Borrower or Borrower s succes.cors in intcres�. Any forbearance by l.ender in exercisiag any rigbt or remedy shall' � • �"'.•
<br /> ' ' � not be a waiver of or prcclude the exercise af any right or remedy. - � . � � ,
<br /> , 1Z. Sat�cessors and Asslgns Bound;Jaint and 5everal4aability:('a5ig�ters. The cavenAnGv and ageements of ,
<br /> ' ' � ihis Securitp Instrument shall bind and benefit the successors and u4.'sgns af l.cndcr and Be�rrow:�.�ubject to the provisions
<br /> ' , of Pamgraph 9.b. Bortawers covena��..and agrcemcnls tihali be juint and several. Any $:�awer who ca-s��,ms this �� . • •
<br /> ' ' -:�' ,:.. Secudty Instrument but dors nat execute the Note: (a>i.r•casign�»g thir 5ecurity instrument cm:y to mortgage,grant and � � �
<br /> convey that Borrowcr's interest in the Propeny under thc tcrmti af thi�Sccurity 1n.rtrument:ib>is not persanally obligated to f � . •
<br /> � �����r�� '� • pay the sums secured by this Security(nytrument:an�(c>�grces that l.ender and:u�y ather 8attawer may agree tn extend. ,
<br /> ' �: � modify.farbear ar make any accommoclations with re�ard ta the terms of this Security In�trumcnt ar the Nate without that j � , ._ �
<br /> � Borrower's conscnt. � •
<br /> j " � 1�. Notices. Any noticc to Barrowcr pravided far in this Sccurity(n�trumcnt tih:�il he civen by dclivering it or by ; . :;;�.:_. :
<br /> . � mailing it by first class mail unlcss npplicablc lau�rcyuires u�e of anothcr mrthod. The notice�hall be directed to Ihe f • _ ,
<br /> . Property Addre�ti or ar►y other address Horcowcr dc�:srnates by noticc tn l.endcr. Any notice t�I.ender shalE bc given by ? , • .
<br /> • first class mail to i.ender�uddress stated hercin �r ar�u address L.endcr dc+i�nate� by nMicc tc��orrawec Any notice (
<br /> , , . �ravideii far in this Security ln�trumcnt shuU bc d�:,�mcs w havc b�;:n given to�orrou•er or t.rnd�r when given ac provided ' '
<br /> �n this paragraph.
<br /> . 14. (.overning Law:Severabilit�. 'f't�iti Security Instrumesti�S�atl be Frncmed hy Federal taw and the!aw of the _ , �
<br /> �. `�� jurisdiction in which the Prapeny is Icrc=atcd. 1n the evenl that an;.�ara�•i�ion ar ctause af t:�i1 Ss:curity Instrument ur the � �
<br /> ' ,. � •. Note conflict.r• with�pplicabte law.sucb conflict sha11 nat affect a�her pruvi4iom��f�hi�Secarity Instrument or the Note ;�.�;� ,
<br /> , • which can be given cffect without the conilictin�prcui�inn. 1'o ihis end the provi,uin�af this 5crurity Instrumem and the _
<br /> Nnte are declared ta t�e set-erablc. • , ', •
<br /> ���'•` 15. $orruwer's(;opy. 8onnwer�.hail hc�;i�en�snc wnfomied capy uf thiti 5ccudty Intitrumem.
<br /> ' 16. Assignment ofi Rent�. 8orrowcr unron�titioRapy a�+irm and Iran�fcr.r to Lendcr all che rents and revenucs af the •
<br /> . . Ptoperty. B�utrower nutharizes Lcader��rl�:nder�agerit�to caStc:;r th�rentti und revenues and G�►cce2+y directs cach tenunt af
<br /> : ' ' . the Ptoperty to pay the rcnts tn Lc�nd•��r�.cnder�a�cnsti, Hcn�:ti�er,pri��r to I.rn�er:n���ic�ec�8orc�wcr nf Borrower, �
<br /> ' breach of any covcrr�ne or ugrcem�ni ia the Secanty tr..in�ment.Borrower�hall collrct und rrceivr all rrnts und revcnucx of
<br /> :,:�'... ' . thc Properly as trustce f.:rthe bencfit af l.cnd_r aa�&�rrowcr. Thi.,�..ignfneni��t reniv am�ti�utev an i�b.oltne t�ssignmcnt
<br /> . • and nat s�n assignmcnt for addition�t.c�utity��nly. ' .
<br /> .. . ,, ' lf l.rnder gives notice�f brcuch ro Borcowcr: (a).ill rcniti rcceivcd by Hoariwcr�ha1t he 3:rtd by gurruwer:tti iruxtee . ,
<br /> for bene�t of l.cnder�mly,t�t+e:� tied Ic�the hums secured hy t'ie Security Instrument:i hi+i.endrt shall be enlitled tu ,
<br /> '� •- - coltect�r�d reccive alt vf thc rcnts�the Praperty;and tc)rarh trn-�:t!�f thc f'top�7ly s}r�ll p�3}•,ril remk due anJ un{raiJ ti� - �
<br /> � ' � • Lender or Lender s ugent on Lender's written demand to the tenanl.
<br /> _ , ' , Bonower has nak�xecuteJ sny prior astignment uf the rents and has not.stn�i will n��t perfdrm any act that wauid
<br /> . , • prevent Lende�frnm exetcisinF its rights ueder this 4'ar.�gr�ph ib. -
<br /> . ' .. , '. Lender shall not be reyuired to enter upnn.take conuol c€��r�t:dntain the Pr�perty heforr or vfter giving noticc o� � �
<br /> � . . • bmach ta 8orruwer. Howewer.Lender ur a judiciaSty appoi:i:r�ea.i Iter may do u��t an} ti�e there is a breach. My "
<br /> ' applicallon of rents sha11 not cure or waive any d�fault c�inti•�.',�xd�.�u,tiy other right ur r�me���of Lcnder. 'fhis asslgnmeni . ,
<br /> �--- =•+.:--:_�>> of reats of the i�rc+�cim11 tetmimte;�rhen the�!�hss=ct�reA tsic i!r�_Securit�r F�et.rt:pr�ent_is p�in fu1L _ ._ � .:'
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