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<br /> ' �,wfich ane rec«red to in Paragrapl►2.os chaage tt�e amouat b'f.such P�►yments. �i4ny o�cass pnooeeds rner ae
<br /> ` amoant requircd t4 PaY�autstanding.indebtedaess under the Note afid this Sccuriry ins�ument shalt 6e paid to Ihe endry
<br /> --- , kgal endtled tliere% � . � •
<br /> -- � Feea. I.ender may aulleet�fas and ci�ges authariud by ttx Secretaty. . --
<br /> _ _ • ' 9l Gr+ouo�s far A�dIkbE. . � �
<br /> -- �a)Didaalt Iseader may,except as limited by�negut�tions issued by the Saroetary in the ca�e of payment defaults. �
<br /> --- _ _ _ . '- - �qnitc immediat�paymentia full of alt sums secured Ay th�s Security Inst�urnent if: . __ -- - ------
<br /> . (i)Barmwerdefaults by fai'ling to pay in full any moathlY PaYmrnt rEquictd.by this Sec�uity L�strument prioc -
<br /> — � to or o�1 the due daue of the next montlilp PaYmept,or - � ' � � ---
<br /> '- -- � (u�Bo�wa defauJts by fail'sng,for a period of durty days.ro perfonn any other obligations conrained in this � � �_^�___ _
<br /> . Sal�riry Insnurixat � ` . ��==---
<br />��:` . (b)Ssle Wit�t Ctedit Approval. Lender shali,if pemutt�d by applica6fe taw and with ti�Pnor approval of thc -----�-_-
<br /> . Secretars►,r+e9uue immediue payment in full of all tLe soms secuned by tliis Security Insuumen[if• �
<br /> i;� C)All ar pa�t of the Aroperty.or a beMficial intuest in a uust ow�ning all or pazt of the Property.is sold or , �{_• � ___
<br /> • ��u�d(other than by devise ordescent)by[hc Btsrrower.and . � -
<br /> �w _ �..._-
<br /> � (ii)The Ptope�sy is not occupied by the pu�haser a�grantee as�is oc her principat msidence.or the purchaser �•�.-��-�.;
<br /> _ . or gaa[ee does "so cecupy the.Property 6ut !us or her credit has not been approved in accordance '��b��r"s�N?.�
<br /> _ with the csqui�ernenis of the Secre[ary. . �;�- —
<br /> = (c)No Waiver. ff cincutnstanas acc�r that would perma Lender co reyuire immediaze payment in full�but i.ender �;"`"5i t � � _
<br /> does not requue sucbp�yments,Lender daes not waive�ts rights with�spect to��quent evenu. =�'``;';��--= �
<br /> (dl Reaalttio�of flIJD Secretary In mat�y ci�cnmstarlces regtttatiats issued bg�°Sec[etaty w�l limit[.ender�s _;;a;,�---- -
<br />�� rights,m the case of paymene defaults,to require immediate.Payment in full�:�;�riorectose if not paid. This 5�---��
<br /> -.�
<br /> - Soeiuity I�iR dces not autharize aocelerarion or fo�ectosure if na penniueb 6j:regulatioas of the Secretary. _ _
<br /> •�' -��: ' (t)Mort�e Not Imvice�. Bamuwer agrees that shauld this Secm-ity In.strament and the note secured theceb nat ~ _
<br /> y -���"?�-:;_�`-•
<br /> 6e eGg►'ble for insorance ander the National Housing Act within 8 l�an}� �� ,.--,�:;:i;4;';;:`
<br /> - . . � �-daze i�reof.l:endec may,at its aption and notrxithstandiag anything in Paragrapb-�,require immediate payment in , =•`;r^;:,�
<br /> . ' �°'x`;�;=y�,,�``,',i .` fuI�o�ajI.s�ms secuned by this Security inst�itment A written statement of any authorized ageut of the Secretary • �
<br /> • ,.f-:•,=:
<br /> �'. "�' << �=� ' " �.'dared"su6se�uent to from the date hereof,declining co insure this Security' , . '��
<br /> 8 mOAths.,' .
<br />" " �ti�k'"�-, �'�"�Instrument aitd the nate seeured theieby.shal!6e deemed caneTusive praof of such ineligibitity. Atotwithstanding � ��_
<br /> ` "Y`" � � the foregoing,this opuon may not be exer+cised by Lender when the unavailability of insur.mce is solely due to ` r��
<br /> . . : �Ywif��.. •;": '
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<br /> Leaders fa�lure w cemit a martgage insnrance premium to the Secretary. . - -� -u�
<br /> • ' , � � 10. Reio�+eiaen� Botrower has a right to 6e reinstated if Lender has rc.quired immediate paymgnt in full because . _.
<br /> ° � �Y••� : of Borrower's fa��sz io pay an amount due under th�•Note or this Security lnstmment. 17iis r.�t ap�lies even after •'�'__ _
<br /> ''���"�: `� foreclosure are msatuted. To reinstate t he SeFUrity Instrument, Borrowet s h a l l te n dec�in a Iump sam a l l - ' `, _
<br /> .�,�:-x%��,'��;:.n-� amonnts requi�ied t�bn g Borrower's account current including.to the extent they are obligations of Borrower under this �•�:,.�
<br /> • � ' � Securiry Ir�swment,fareclosure casts ar�d reasonab2e and cussomary attomeys'fees and ex�ses pro�eriy�sociated with • ``.; ��;;__
<br /> , ���:��'''';` 't the foneelosure procceding. Upon reinstatement by Bormwer.this Seeucity Instrument and the o6ligations that a secures _ t -:.�.•�-,-_
<br /> .� �' '.- shall rem�n in effech.as if Lender had not required immediate payment in full. However,l.ender is not required to pecmit � . . - _
<br /> ;;`� . _ rein5tatement i� (i)I.ender has accepted reinstatement after the commencement of foreclosure psocaedings within two , -'
<br /> 5 _ .� _
<br /> , years immediately preceding the commencement of a current foreclosure praceerling, (ii) reinstateQCent will preclnde �;` ��
<br /> • , ,. fareclosnre on different gmunds in the future,or(iii)reinstatement will adversely affect the priority of the lien created by �
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<br /> , . this Security Insbumen� � • -
<br /> :� � Il. Borrower Not Rdeased: Farbearance by i.ender Kat a Waiver. Extension of the 6me of payment or � � � i�
<br /> � � • ..modification of amoriization of[he sum.+secured by this Security lnstrument granted by Lettder to any successor m interest . •
<br /> "' .: : 's> ' of Borrower shal)not operate to release the liability oF thc ariginai Borrower oc Barrawer's successor in intens� Lender t ' . :� -_
<br /> . " � , � shall not be required ta►commence proceedings agatnst a�successor in interest or refase ta extend time for payment or
<br /> `' ' � � otherwise modify amortizat�on af the sums secured by th�s 5ecurity In�trument by reason of any demand made by the � .
<br />' . . �-� . ' origina}Borrawer or Hartowcr's•successar�in interest. Any forbearance by Lendcr�m exerrising any right or remedy shal! . .
<br />• , •- ' noi be a waiver of or prerlude the exercise of any right or rem�dy. , � -
<br /> • �• 1�. Succes�oes and Assig�s Bound;doint and Several Liabitity:CaSigners. The covenants and agmememy of 1 �, `
<br /> ' . • this Securiry Ynstrument ShaU bind and treae�t 11�e successor.;and assign��f Lender and Borrower,subject to the provssrons . .
<br /> � ' uf Pgregaph 9.b. Borrower's covenants xn� agreemen�c�.hall be jc�int and several. Any Barrower who co-signs this ,
<br /> ' �,- SP.curity Instrument but dces not execute thc Note: (a)is casigning thu Security(nstrument only to mortgage,grant and , . " .
<br /> ��'s.�=� • canvey that Borrawer's intertst in the Property urtder the tetm�af this Security Instrumc:jt;fb)is not penonally�obligated to ,. - - -
<br /> . pay the sums secured by this Security Instrumenr,and Ic)agrees ihat l.ender ana any athcr$orrawer may agrec to extend. .��:�..
<br /> � modify,forbear or make any accommaiationz with regard w the tcrtns of this Securiry Instrument or the Note without that t�.�°l=�"
<br /> . Borrower fi consent. � � , ; • R'
<br /> • 13. NoHces. Any notice to$orrower provided fi�r in this Security lo�trumcnt�.hall tx given by dclivering it or by ;� ', � • --�
<br /> � • • mailing it by first ctass mail unless appli��ble law rcquireti use af;uiother methud. The notice shall be directed to the �
<br /> . Property Address Ur any other acddress Borrowcr designates by naficc to l.end��r. Any noticc to Lender tihall be given by � . �
<br /> � . iie�c3a.ca mai4 to l.ender's address stated herein or any addresti Lender de�ignciteti by nutice tn 8i�rrower. Any adiice �
<br /> �.. ,. pnvYi�.Q for in this Securiry In�trumcro shall be dcemed tn ha�•c bcrn givcn to t3orcawer��r Lcnder when given as pmvided � , .
<br /> �.. �n th,s paragray!t. ' .
<br />. • 14. Goyern9ng Law:Severability. Thi.s 5ecurity Inytrumem shalt bc grnemed by Fcdcral law and ihc law of the � �
<br /> '. • • judsdiction in whish thc I'roperty is lacatcd. In thc eveni that any protii�inn or clau�r of this Sccurity ln�trument or the i � , .
<br /> � � Note conflicts wish applicabte law,such canflict shaU nnt affe�K nthcr pr�+vi.iom��f this Sccurity In��rument ar the Note ; ,
<br /> . . which can be given effect wiahnsu thcs con�licting provisiun. Ti�thiti enJ thc prvvisiunr vf ihi.Secutity instrument�nd the
<br /> , . . Note are declsucd to bc scvcra6fe: ' ' .
<br /> ' ' 15. �orrower's Copy. Banowec tihall tK:givcn anc canfurmrd copy vf thiti Sc:curity lnstrument. , ! , '.
<br /> � 16. Assignmenl ot Rents. Barrnwcr un�:nnditiunally assi��+artd tran.ferti to l.cndcr al)ihe rcnts:u�d revenucti uf tho ;
<br /> • � • Property. Barrower amhorixcx Lendcr or Lrnder's agrntr tn c��Ilcct ihc n;nr>anJ rcvcnuc�and,hrreby dimcts cach ten�nt��f
<br /> the Pr�perty to pay�hc rcnts to l.ender ar Lendcr ti�gent�. Nnwever.prior ta I.endcr's noticc to Borrowcr of 8orrowcr's• .
<br /> breach of any covenant or ngreemrnt in the 5ecudty Instrumcnt.Bnrrower�hall collect und receive ull rents vnd revenuew of ' .
<br />_ . . . '' � thc Properiy as trustcc fur the benc�t of Le:nder:�i�i Hunc�wcr. This assignment of rentw a�ns�itutcw s�n�bsolute nr•si�nmcnt , •
<br /> , ,. and nol an astiignment for a@ditinnal securiry only.
<br /> ° ' lf lxnder�;lver noticc ot'hreach to gorrower. (a)all rents rcceived hy 8orcnwer sha11 bc held by�orr�wrr:u truste� � .
<br /> • °, '' - ftfr benefi!nf�ender an{y.to be vpplied to the sum��rcurcd tsy thc 5ccurity In�trumrn�:(b)l.ender sh:�ll be entitlCd n� .-
<br /> � •• rollect gnd rereive all nf the rcnts of the Property:�nJ(c)e�ch tenant��i the Prupeny shall pay all renty dur and uapaid ta , ,
<br /> • • �� � Lender or Lender's agcnt on Lendcr's written demand ta tne tenanf. �
<br /> '!'��� Horrowcr h;is not executed any priot nssignmeot af the rents und has n��t �ttd will not perform any a�t that would
<br /> - �rrevenri�eJd�r fr�m�cercising its rights unQer ihis F��r,�gtapri Ifs.- __. - - - : _ ----
<br /> ' . Lendet shall not be tequlred to enter upon,talce cnntrol of ur maint:rin the Prupedy before ur after giving notice of �
<br /> � . breach to Burtower. However.Leniler or a judiei:illy app�inted rereiver may d�so at any tlmc there is�brc�ch. Any •
<br /> --,,.,_._v ._�--.-:----`-- applic�tion nf ren�s shall nvt cus�e or wnive su�y defuult ur invali�te:usy uthcr r.ight nr remuly�f Lendcr. 't'his assi�;mnent- - ` ---`----
<br /> . . of rents of`the Fr+operty shaU terminatc when the dcbt secured by t6c Sccurity�lntitrumrnt iy pald in full. " � .
<br /> __ ' , � _ - - . i��eF±,�aryxF�� _ .
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