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<br /> �_ __„_,� �,_�.._.,. �' .�__._.,.._j.__�L._--'_..._.._.._�__�....,.r..,�.__,..G._..__._..�.._.._. .�._...'�---'--.--____. , ` . , ' �
<br /> • . __
<br /> o� - �
<br /> LdO�N NO� I 5 3 9 2 1 4 8 1 7 =_
<br /> date of the m�r►thiy payme►rts,Yvhtch are referr�to in Paragrap��,or changE the arr�ount of such payments. lany . � � " `- • � ---
<br /> ` excess proceeds over an amouM requtred ta pay all ou4start�ing indebtadness under the Note and this Security � �� - ' � ,.. ' `'-`
<br /> .: `- Instrume�shal[ba natd to the eritity legally entitled thereto. , ���_�'''�_�`�
<br /> � • 8.Fees. Lender may collect fe2s an�charges author¢ed by the Secretary_ • `.
<br />` 9.Groun��tor AccQtFiratto�04 Do�3. ``'�"��-
<br /> ''�=:-� �
<br /> � (a)D�t a u l L L e n d e r rt r a y,e x c e p t a s l i r n i c e d�Y r�H u f a l i�n s i s s u e d b y t h e S e c r e t a ry i n t h e c�s e o f p a y m ent defautts, --- `:---- -- _
<br /> requfre imrnediate payment in f�i of att sums se�lrad by thfs Security le►strumeni if: _ ' : .. _ .�_-°::.�
<br /> ,��•: -_
<br /> (i}Bflrrawer defauits by fa9in�to pAy in ittu any marnhly�saymerrt requireci by this Security Instrumeni prior ,�G;=j�:-_ ;`���__:'_:
<br /> to or on ths due date af shs n��mtmtt�y►�ayment,or �` i 5� ' ' _
<br /> — [�';B o r r o v ti ror c t etau�ts h y i�Ui r r�,$a7a per�ad af thirty days,to perfortn any o t her o b l ig a t[ons co rt t a in e d in t h is �f�'��;�:' . .= . �
<br /> = lfn 58Ctl.Tity lnsttufriC��L ��-��-_' -,-- --- _ -
<br /> �n - �
<br /> � �i�;}�srlE L�*St�m�4 Cea:oltt.A�ppmral. Lersder s��`!.�r�.:.:�sd by 2ng�S�ca6fe G��c�d with the prior ap��i:�ti�= fF�';`E`; . . . .. • ,
<br /> . � ' �..�t�;ra�q�Fre tmr�t2a}Fate Pal►merrt(n full af a'f tivc s�:�t►s ss^�.•��y t�s��„�cxn�ty Instrument if: . .,�-��p'=y --
<br /> ., ,:���tpart ofthe Property,or a heneftc�at�rtterest tn a L:�ouming a�3 or part of the Property,is sotd or � - - �
<br /> � .• oth�n�e transfened(other than by devise or descent)by the BoROwer,and _ .• '" �.
<br /> - � : •�„� �t�:i�• '_�.d+::�. .:�- i�.... ��
<br /> v � .•�•�'CEY�f�l�b}ierty is not accupied by the purchaser or grantee as h is or her p r i n c i p a l r e s l d e n c e,o r t h e �y�,_,�T .._ . :�
<br /> _ � +".` ". �purchaser or graertee does so occupy the Properry but hIs or har credit has not been approved in ���• � �<<. •� ' . .�
<br /> . �. :�-�_� .�-�._
<br /> � acxordance with the requtrerr�ents of tha Secrefary. ..j- . , ��r,�.:� -
<br /> �.� ,� (c)No Waivar.If circumstances occur that woutd permit Lender to requNe immedlate paymerrt in full,but Lender - �,., �=-�
<br /> � ' do�s not requlre such paymeMs,Lender daes noi w�tve fts rfghts with�espect to subsequent svertta �� � ��°-�"� ::_
<br /> o ..�:.�:��"''.. .�
<br /> � (d)R�utm4tano et k�UD 8es�rc�mry. In many circumstances reguiattons issued by the Secretary vQll ilmtt Lender's ,�;�*--. , ` �,�,�
<br /> � ►ighis, n Yhe case of paymeni dBtaufts,to require immed!ate paymenY in full and forectose ff not .Th i�S$c udty .� �� �� �;���=-
<br /> 1��.-
<br /> In s t r ument daes not authorize acceteration o►foreclosure ff not permftted by regulaUons otthe scratary. �;�;.;--�-
<br /> . (s)NRoR sp9 Nat In�ured. Borrou!ref egrees that shautd this 3ecurity instrument a n d t fie note secur e d t here b y n o t �� �; :"
<br /> ba eligi��e for insurance under the f�ttonal Housing Act withtn s o o a v s from the date hereof, � �;,�__�
<br /> ' Lender may,at tts option and notwithstandtng arrything in Paragrapfi 9.requlre tmmedtate payment!n futl of all ���.�..,--. --_-�-
<br /> sums secured by this Security lnstrument A written statement of any authorized agent of the Secretary dated _- --
<br /> • subseque�t to s o o a r 5 from the date hsreof,declining to insure thts Security InsWmertt and the . ���` ,
<br /> - no4e secured thereby.shall be deemed conclushre proof of sucl�ineiigib�ity.Notwithstanding the foregoing,this _�.��t,.��`_ ���
<br /> • opuon may not be exercised by Lender when the unavailabitity of insurance is solety due to Lende�s failure to remft � -
<br /> a mortgage insurance premium to the Sec�etary. ` ��t��
<br /> � - 10.R�fnstatsretent BoROwer has a rtght to be reinsta4ed if Lertder has required immedia��aymerrt in fuii because :.-;
<br /> �� of Bor�rafs fallure to pay an amourtt due under the Nate or th[s Security tnstrumern.Thls dgh:�pli�s c�cc-s+after �
<br /> ' foreclosure proceedings are instituted.To refnstate the Security InsirumeM,Barrower sha11 tender in a Ittcrs��am a11 '�`�� !�.�
<br /> � �ouMS requtred to bring Barrower's accourtt currcnt irtr,�uding,to ttre e�derit they are ofitigattons of Bue�nr.�r under . -; :����.� �.-
<br /> �i�i�Security Instrument,foredosure costs and reasar��arM customary attomeys'feas atiti expenses�+��ly '" �� � ���
<br /> ��:��-�.y .. ..�..
<br /> � � �ctatbd E^s�Y�the foreclosure proceeding.Upon re4 s�-,�2merti by Borrow2r,this$ecu�ty Ittstrumen2 a�rdt�s -� -:.•
<br /> � . d:�it�ticros that ft secures shall remain in effeet as ff L�d�r had c�d required immediate paymeM In fuil.tt�x��.er. �•'•;� �
<br /> �„ ;�.. :;",.
<br /> L�c�er is rtot required to permit reinstatement iF.(�Lerr�ar has«xcapted retns4atemerR after the camrrt�rn�of ' � . . �,;..:. �., .
<br /> .:'.,�� f4-,�r�osure proceedings within two years tmmediatci���-eceding the commenc@merft of a current forecl ��: ,#�ti,{:. ' °
<br /> �r,t;ceeding,(ti)reinstatementwill prectudeforeclosur�ond�fererrtgroundsinthefuture.or n relnsiaterrsa�wUl `yi.�;� . �� °: ��,?:'. �,.:.
<br /> � adversefy sffect the priorfty of ths lien cr�ated by thls Securily Instrumer�i.
<br /> � � 11.Barrower No!Re[eased;Forbea�ance by Lender Not a!�►aiver. Extension af the��f payrrtent or , '?�'
<br /> ern�diftcaiton of amortization of the sums secured b�thls Secuzity t�.strument grarrted by Len��r.�any successor in ••���. A"�,r.�
<br /> � ;.��{. ��t�rest of Borrower sha11 not operate to�etease the�L?4ty of t�a original8orrowet or Bonower's su 4� ln interes`.. � -
<br /> f [�rsa�xier shaJi not be re/�ulret!to comrnence proce-ed' aR��nst any successor tn ir�Yerest or refuse to e��Sn9 tar � . _ ���''�T�_=
<br /> ; f �I I�T� `�" �1l�_c''�:T_s*i'�P 1�....�.�.
<br /> � `•�i ��mern or oiherwiso modfiy amoRization af the��l��.�ed 6y thfs��curity Insirumar�i by reason af a.��:�damand - - -- - -
<br /> '� m�.rra by th�crtginal Borrower er�orrowe�s succE�..�cc�ire IrtE�r�.Any forbearance by Lender in euetcising arry dght -�-- ��
<br /> � ;. a►r r�zmedy 5�rafL nat be a watver of or precltxte the�.�'s�of�rn rr,�,tit or remedy. ° ��'` "'
<br /> �_�.
<br /> • f iZ Sucoessars and Asslgns Bound;Jot�t ac��mverai Liabiiity;CaSigner� The covenanta and agreemerrts af "�'_=_
<br /> . � t t±�is Security InstNnnent sha`:�bind and benefit the�ar:ssors and ass�gns ot Lender and Borrower.subject to the __-__ -•--
<br /> � provistons of Paragraph 9.b.Borrower's caver�►ts a;.d agreemeirts shail be joirn and several.My Borrawer who � -_ _ _
<br /> � co�signsth(s Security tnstrumertt butdoes rtet.executethe Noto:(a)ts co-slgNng thts Security Instrument ontyto � �� � �_,•�'
<br /> �.4' mortgage,grant and canvey that Borran°�'s L^,�rest In the Property under the terms af thls Securiry Irstrument;(b)fs �=��-f��—
<br /> . . 1 not personalty obligated to pay the sum���c.:�by this SecuNry Instrument;and(c)agrees that Lender and any atfec�� ....�� �' ;��;-
<br /> � :,� �rarrower may agree to eUdend,madffy,farbeav ar+rr„1<e any accommodations with regard to the terms o#this Secursyj � _•i�'. .��
<br /> . .� t��rumeM orthe(Vote wSthoutthat Bonower's cun:fra�s.
<br /> . � 13.Notices. My notice to Borrower provfdet�f�fn this Security Ins2ntment shall be glven by delivcaninc�it or�y ��
<br /> � L��:
<br /> . ; �r�9tre�g ft by first dass maU unless a�apltcable law re-�a!�vs use o!anoihar method.The nottce shall�e d.�-+�to th� _.
<br /> �� t��etty Address or any other address Borrower d�.ssgnaies�X nottce to Lender.Any notice to Lender�1fi��e gTvan� �'•� .�'� '
<br /> � "� f���gtrrst class mail to lender's ad�ress stated(rtereiR�a any address Lender destgnates by notice to Borrau�cc t�ny ttati�a �-�
<br /> � ' pc�rkled for U thts Security Instrument shafi be dee�ncd to havo been gtven to Barrower or Lender wh�n�Iven� -- -� .�.�'
<br /> "j: Ucovfded In this paragraph "'
<br /> � � 14.Goveming Law;Severability. Th►s Security Instr�ument shall be govemed by Fedsral law and the taw of ths ��-�-
<br /> ����'�`��� !u�risdiction inwhich the PropsRy Is lo�*_c-�d.ln the event that any proviston or cfause of this Security Instrument orthe --------
<br />� ��'�``'�� Note conflicts with appiicabte law,such con(Itct shall not aNeci other provlslons of this Security InsUument ar tho Note ���___
<br /> ��fitch can be glven eNect wiihaut 4he confticting provlston.To thts end the provislons of tMs 3ecudry InstrumerR and the ���--= - - --.�T
<br /> � Note are dsciare�to be severabte. ' �'�'�'�
<br /> . • 15.Borrow�t's Copy. Borrawer shaU be given one contormed copy of thls Security Instrume�i. �,
<br /> � ` ��.:�.":�-:
<br /> : � = 18.Assl�nmar�ot Rents. Borrower unconditlonaliy assigns and transters to Lender all the rer�ts and revenues af .. ._ : � —=
<br /> � the Pro�ny.Borrower authorizes Lender or LendePa agents to coltect the renta and revenues and hereby directs each �`��4-� • _��°��
<br />� � � � t e n a r n o f t h a P ro p erty t o p a y t h e r e M s t o L e n d e r o r L e n d e r's a g e M S.H rn n r e v e r.p d a r t o L e n d e r's n o t i c e t o B o r r o w e r o f T"
<br /> � BorrorNe�s breach oi any covenant or agreement In the 5ecurity Insttimant,Borrowet shall collect and recefire all reMs F
<br /> � and r�vanues af the Property as trustee for the benefit of Lender and Bonovrer.This assignment of rents constitutes an �" ��'��
<br /> �, absolute assignmer�t and not an assignment for additlonal security onty. _����:
<br /> :=,.,...,.-,.. ... -
<br /> �- if Lender glves notice o}breach to�orrotiver.(a)all rents received by Bonower shall be held by Borrower as trustes
<br /> .,� for benefft of Lender only,to be appiled to tlse sums secured by the 3ecudry Instrument;(b)lender shall be entitled to '�J���'' -�rA-
<br /> � . , colfect and recehre a11 of the rents ot the Properry;and(c)each tenant of the Property shall pay all rents due and unpaid •• � . � `�
<br /> " to l.ender or Lender's agent on Lender's written demartd to tha tenant. ��� �� �•��
<br /> . � Borrower has not executed any pnor assignmeni M the rents and has noi and wfll not perform any act that would ,� . ' ' � � �. �
<br /> prever�i Lenrlerirom exercising fts rlghts underthls Paragraph 18. �'. '��� ' � i:
<br /> Lender shall not be required to enter upon,take control af or maintatn the Properry before or after giving notice of � ;. .+�� � t_ �"
<br /> - �-� bre�ei�f�Sv��o�ve�.i;o+�r�re�,ze�tder o;a judtctaSty agpai:it28 rec�iv�r�xsy da sc at any ilms it�s!s e bs�ach Any y'�� __
<br /> appllcatlon of rents shal!not cure or waive any default or irtvaltdate any other right or remedy o'F Lender.This �.
<br /> � asslgnment of rerrts of the Property shall terminate when the debt secured by the Securi2y InstrumeM is pald in fuil. ,� •
<br /> � . FtlA�1E8AA&KAOEEOOFTRUST 5/95 p. --
<br /> 13CJFlHDTNE//Ofi91 J(5�95)-L PAGE 3 OP 4 .� , - - . . ; _-
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