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<br /> � LOANN�. 153921�fl� 1 _
<br /> d:ta cf tt�rr�n;hly�1�mer+te,which ara�etarred tn In Para�raph 2,or chanqo the amaunt of such�ayments. My
<br /> ax�'ass proceeds ovvorr an amaunt requiraci to pay a1i c�WStandte�g�ntiebtodnes�under the Note anc!thl� 5uc:ur�iy __
<br /> inslrument&hal!ba pa�d to the eNUy IepaNy entlUecl therata. -
<br /> �,poq. Lender may cdlect tees and charqes autharized by the Sccratary. _
<br />. �.G�cwn►is tor Acc�tarntlo�ot osbt. -_
<br /> (�)p�f�utt. Lende�may,except as Ilmked by reQ�lattau Issued by the Socretary In the c:ase of payment defauits, �
<br /> ��y���{��e peyment tn fa�l�of aA sums socured by this Securiim'ent requirad�by this Secu�Uy instrument prior
<br /> (I)f3orrov:or dafaultts by tapir►�tt,pay in fu:l any monthlY�Y =
<br /> t" to or on the dua daia of tho next monthly payment,or =
<br /> !i ��)Borrowe►d�faedts by taMinQ,for a par{ud of thirql daY�.to pe�torm any other obllgattons contalned�n thls _
<br /> � �ecurfry Instrume��t. -
<br /> lb)Ssle Wtthout Cratlit Approv�L Lender shall.N permitted by appilcaWe law and with the prlor approval of the
<br />� 0 Se�etary,requtre fmmedi2de payment tn full ot all the sums Secured by this Securiiy Instrumer�t a: _
<br />: � � (i)All w paR M the Property,or a kseneficial Interest In a trust owning all ar part of the Property,Is sdd or =
<br /> - � �oihe�vvise tra�sfefrad(othet than by devise or desce�i)by the 6orrower,and
<br />' O� (il)The Property is no►occupted by the purchaser or qrantae as h!s or her principal reskience,or the
<br /> � purchasor or grantee does so occupy the Propeny bW his or her aredit has not been approved in _
<br /> accordance w�h the recuf�e.�res of the Secretary.
<br /> � (o)No dYttv4r.If circumstances occ:rr�hat would P�mit Lencler to require Immedlate payment in full,but Lender _
<br /> does not requue such payme.�ts,Lender does not waive iis rights with respect to subsequent events.
<br /> (d)Re�ulations of HUD Secxet�ry• In many circumstances regulatfons fssuad by tho Secretarywill 1(mit Le�xier's
<br /> rights,;n the cassp oF paymenY detautts,to requlre immedtate payment in full and fore4Jose if noi pa�d•7hts Secu�iry
<br /> �nsirument does not auihorize acceleratbn w foredosure if not permiited by c�aulatlans of the�ec�otary.
<br /> (e)MoKSa9s Not Insurod• Borrower agrees that should this Secur'dy Inst:r..�nt an�the note secured thereby nai
<br /> be elig'ible for(nsutance under thQ National Hottsing Act within s o D A Y S from the date hereof.
<br /> Ler�der may,at its opUon and noriv�hstarxiing anythtng tn Paragreph 9,reGuire�mmediate payment in full of aA
<br /> sums secured by this Securityt Instnunent.A written sLatemEnt of any authcr�-�agont of the Secretary dated
<br /> subsequent to s o D A Y S ftom the date heraof,declini�g tQ ir�;,;re this SecWiql Instrument and the
<br /> note secured thereby,shall he deemed co�dustve proof of such Ineliglbuity.nl�withstanding the foregoing,this
<br /> opt{on rr�ay not be exercised by Lender when the unavaUabUity of�nsurance�s s�lely due ta Lender's faflure to�emfi
<br /> a mortgage tnsurance premlum to the Secretary.
<br /> 10.Reln�tatemen� Borra+�+er has a right to be reinstated if Lender has required immediate payment in fu11 because
<br /> o�BQrtowe�'s faYure to pay an amount due under the hete or this Security Instrt�ment.This right ap�lles even after
<br /> fa��a p���dingS;�e'vr�stituted.To relnstate thie Securiry Instrument,Ba�nwer shall tender in a lump sum all
<br /> a�mounts requ�red to br'��rrowe�'s account cunent i�ciuding,to the extent t:•�ey are obligatlons ol Borrower u�de�
<br />- this gecurdy P�trument,fcreclasure costs and reasonabie arsd custorr�ary attomeys'fees and expenses proPe�lY
<br /> assoclated wii°�the forec�osaTe proceed�ng•UPon feinstatement�b 6�'rower,this Security Instrument and the
<br />= ot,tk,�ations thai k secures shail remaln in effect as if Lender had ne�t r��sised�mmediate payme�in full.However,
<br />° Ler�der!s not�equired ta perm�t reinstateme�t if:(1�L.ender has acce,�te�+��'►s:a.amar�a8ar t3�w aam;.zanc:rn�M of
<br /> foredosure proceedings w�hln two yeass lmmediately preceding the cornrnencement of a curtent forec�osure
<br />- proceeding,(in reinstatemsnt w�l predude foreclosure on dtfferent grou�ds in t7�e fuiure.or(ii�reinstatement v��U
<br /> _ s�rhwrsely affec3 the QrbriN of the lien ct�ea2ed by this Security Insirumeni. L- �--� ...A. .
<br />- 11.BOiT01it'��!D!REl�Std�FO�bb11�flC�by LlflQK NOt�1N�(vK. Cx[ension c�i i�a i�nw w�'xij'isi^v,.....
<br /> - madiflcation of amatizatian of the sums secured by this Sacurfity Instrumen4 granted by Lendarto any successor in
<br /> 3r�t�t af gQrrower shali not operate to retease the liabi�iry of the original Borrower or Borrower's successor in interesi.
<br />_ �de�shali not be required to commence proceedings against any successor in Interest or�efuse to exte�d time for
<br /> _ p�ymeM pP ctP�e�wise moc►�fy amortlzation of the sums secured by this Securiry Instr�ment by reason of any demand
<br />- made by the c�ininal Borrower or BoROwe�'s successors in lnterest.My forbearance by Lender in exerclsln9�Y nS�
<br /> rx re�riedy shan not be a vr3iver of or preciude the exercise oi any rlght�remedy.
<br /> - 12 Succsssors and A�si�t��s Bou�d;JaM and S�veral L{sbiliry;CoSi�nKS. The cove�ants and agreements�t
<br /> tPais Secu�ity Instnimeni shaA bkid and benefd the succe.ssx�s and assigns of Lender and Borra�re�,subJect to the
<br /> provirJo+�s d Paragraph 9.b.&xrawer's covenat�s and agteert�ts shall be Jdrrt and several.Any BoROwer who
<br /> co-sigr�s this Secu�ity Inswment but�as not execute the Nate:(a)ts co-signin9 this Security Inst�ument onty to
<br /> mortgaye,graM and com►ey that Borre+�e�'s trttere5t in the Ptopeny under the tertns d thls Sectuity I��ument;(b)is
<br /> - �P�+�Y��ed to pay the sums secured by 4his Secu�itY Inswment;and�c)agrees thai Lender and any other
<br /> 6o�ro�xer may agree to e�dend,modliy,torbear or rv�ake any accommodailons with regard to the terms c�ihis SecurdY
<br /> = InsUUment or the Note without tt�at Borrower's cwis�nt.
<br /> � 13.Naff�es. My notke to Borrower Provided for in this Securiry Instn�meM shail be given by dei'rrering it or by
<br /> _ ����}���y unless appl{cabie law requlres use of another method.The notice shall be directed to the
<br /> Rroperty Acbcfress or anY oth�edd�ess Bor�ower designates by notice to Lender.Any notice to Lender shall be giveo
<br /> � by fust c�ass ma�7 to Ler�'�er's address stated he�ein or any address Lender deslgnates by notice to Borrower.AnY notice
<br /> _ �py�fa�n�S Se�:rky 0nsirument shaA t�e deemed to have been Qiven to Borrower or Lender when�iven as
<br /> � pravided Gz tttts paragra�h•
<br /> - 14,Gov�t�in�L,�w;Savet�Wlity. This Security Instrument shaU be govemed by Federa!law and the law of the
<br /> _ tudsdicdo�in which the Property is located.in the event that any provislon or ciause of this Security 1 nstrumeM or th0
<br /> � Hote conflkxs wkh appiic�able law�such cordikt shall not atfect other provislons of this Secu�iry IratrumeM or the Note
<br /> .� whlch can be given effed w�thout the r.onfl�p�avLsion.To this end the provlslons of thls Security Ir�strumeM and the
<br /> � Nate are dectared to be sz�erable.
<br /> � !S.8s�rower'�Coay. Barc�++�ar sttiaU be given ane canformed copy o7 thls Security Instrurrsent.
<br /> � 16.Assipnm�nt ot RNns. Borrower uncondEtionalty assigns arxi Vansfers to Lsnder a1!the renLS artid r�+renuc:s of
<br /> � �h�p�ope�ty,go�ower authcxizes Lender or Lenders agents to couect the�ents and reve�ues and hereby direc2s each
<br /> -� ,,;�; tenarn of the Properry to pay the rer►ts to Ler�der or Lender's ageMS.Howevar,prior to Lender's notice to Borrower of
<br /> Borrower's breach of any covenant or agreemeru in the Security Instrument,Borrower shail cdlect and recelve ali rents
<br />- �;� and revenues of the Properry as tnistee for the be�ei'rt of Lender and Borrower.This asslynment of rents consticuces an
<br />- .* absoiute assignment arxl not an assignment tor addit{{onal security o�ly.
<br /> ,�,r If Lendor gives notice eF breach to Bonower.(a)all rer�ts received by Borrower shall be held by Borrower as trustee
<br />. ; for bsnsf'd of Lender QNy,to be appUed to the sums securerl by the SecuMy Instrument;(b)tsnder shall be eMitled to
<br /> '' cdlect and receive all of the rents of the Propeity:and(c)each tenant of tha Property shall pay all rents due and unpaid
<br /> to L.ender w Lenders age�on Ler�dar's written demarxi to the tenaM.
<br /> Borrower has not executed any p�ior asstgnme�4 of the rents and has not arxi wdl noi perform any act that wouid
<br /> ptevent Lender from exercising tts righis under thts Paragraph 16.
<br /> Lender shall not be required to enter upon,take contrd of or maintain the Property before or after yiving notice of
<br /> breach to Borrower.However,Lender or a judklally ap�ainted receiver may do so at any time there is a breach.My
<br /> application of rents sf�afi noi cure or waive any defa�lt or invalidate any other right or remedy af Lender.This
<br /> assignment of rents of the Property shaU te�rtdnate when the debt secured by the Securiry Instrument is paid in full. s/9s
<br /> Fw►�sR�sw►�o oF TausT
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