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<br /> �� LOANNO. 153s21s22o �ry
<br /> de�te of the monthly payments,which a�e referred to in Paragraph 2,or change the amount of such payments. Any
<br /> excoss procaeds over an amount requlred to pay all outstanding Ind�bteclness undar tha Note�nd thls Securlty
<br /> Instrument shall be pald to the entlty legally eniltled thereto.
<br /> 6.�ees. Lender may collect feea and charges authorized by tho Secreiary.
<br /> � � 9.Grounde for Acr.eleretlon of Debt.
<br /> �• (a)��fautt. Lender may,oxcept as Ilmited by regulatlons issued by 4he Secrstary In the caso of payment defaults,
<br /> " _. requlre Immedlste payment In full of all sums secured by thls Secur(ty Instrumont H:
<br /> � (I)Borrawer defaults by falling to�ay In full any monthly payment requlrod by this uecurlty Instrument prlor
<br /> „ ;,' to or on the due date of the next monthly payment,or „
<br /> --- - '� (t!)i�orrowerdeiauiis i�yiaiiin�, iur t�jidPlin�4}ti 1�. tSayS,::,N�0�������O.!':�'���!n°!!Q.^.9�^ntglncri IntF�lc �_.___-_
<br />� =--�"�`�''• Securlry Ins�trurnent.
<br /> "'w`�""'�P4 (b)5ale Wlthout C�ed(t Approvel. Lender shall,if permltted by appllcable law and wlth the prlor approval af the
<br /> �� ' Secretary,require immediate payment In fuil of all the sums seaured by thls Securlty Instrument if: •� „�
<br /> � •�� , ,. (Q All or part o�the Properry,or a beneficlal IMoreat in a trust owning all or part of the Property,Is sold or
<br /> , otherwlso transferred (otherthan by devise or descent)by the 13orrower,and �_
<br /> � � (ii)7he Property Is not occupled by the purchaser or gran4ee ss hle ar her princlpal resldence,ar the .��
<br /> �, purchaser or grantee does so accupy the Praperty but his or her credft has not been spproveti Irj __
<br /> � accnrdance wfth the requlrements of the Secretary. '`'`�
<br /> � (c)No V1Felv�r.If aircumstences occur that would permit Lendor to requlre immedlate payment In full,bu4 Lender �1�.�.�
<br /> �` does not requlre auoh payments,Lender does not walve Its�ights with respect to suhsequent events. ;.��_
<br /> �; (d)�tegulAtlons of HUL19ecretery.In many circumstances regulatlons is�ued by the Secretary wID Ilmlt Lender's _
<br /> r i g h t s,i n t h e c a s e a f p a y m e n t d e i t��tlts,to re qulra lmmerliste pa yment In full and toreclose If not pald.This Securlry _
<br /> Instrument does not suthorize acceleration or foraclosure if not permll4ed by regulatlons of the Secretery. - _ .
<br /> (e jMortgage Not Ineured. Borrower agreea that should this Securlty Instrument and the nate secured thereby not ,,���__
<br /> be ellgible for insurance under the National Housing Act within s o o n r s from the date hereof, °
<br /> Lander may,at fts optlon and notwithstanding anything in Paragraph 9,require immedlate payment in i�ll of all -�='�?
<br /> � �� sums secured by this Securlty instrum�nt.A written statement of any authorized agent of the SeGretary dated �:
<br /> . ". subsequent t� e o 0 A Y S from the dete hereof,declining to insure thla Securlty Instrument and the ��
<br /> note secured thereby,shall be deemed conclustve proof of such Inellgiblllty.Notwfthatanding the foregolne,thla ______
<br /> � optlon may not be exerclsed by Lender when the unavallablliry of Inaurance is solely due 4o Lender's fallure to remlt _
<br /> __ a mortgage inrurance premlum to the Sacretary.
<br />._ . .....,.,.
<br /> �Y 10.Rsinstatement. Borrowdr has a right to be roinst�ted ff Lender has required Immediate payment In full because
<br /> � � �� ? � oP Borrower's fai{ure ta pay an amouni due under the Note or this Security Instrument.Thls right applles even after
<br /> '���`' ' �� foreclosure proceedings sre Instituted.To reinstate the Security Instrument,Borrowar shal)tender In a lump sum ail
<br />-�����`�-��4` amounts requlred to bring eorrower's acc�unt cuRent inciuding,to ihe exieni they are obligaiione oi 8orrowvr iiixini
<br /> `�'�': �"��� thls 8ecurity Instrument,foreclosure costs and reasonabie and customary attameys'feas snd expenses propedy
<br /> �� i' �''� associ�tecf wfth the foreclosure proceeding.Upon relnstatement by Borrower,thlo Security Instrument and the
<br />-_ ..., .�:..:
<br /> r.,'t°R�;;�'�� obligatlons that it secures shall remain in effect as If Lender had not requlred immndiate payment In full.However,
<br />-•�1�,4,: . Lender Is not required to pormft reinstatemont ff:(I)Lender has aacepted rsinstatement after tho commencement of
<br /> =-�� �- _ toreclosure proceedinga wlthin two years Immedlatety Rreceding the commencement of e current foreclosure
<br /> -- �_ __= proceeding, (il)relnatatement wlli preclude foreclosure on dHferent graunds In the future,or(III)reinstatement wlll
<br /> �— adversely aHect the prir�;fty of the Ilen created by this Security Instrument. �
<br /> -�:��� 11.Borrower Not Released;Forbeerance by Lender Not a W�tver. Extension of the tlme o}payrnent or
<br /> :__�_.-",�.,� m o d i f l c a t lon o f amo r t fza t l o n o f t h e a u m s s e c u r e c i b y t h i s S e c u r l t y I n s i r u m e n i g r e n t e d b y L e n d e r t o a n y s u c c e s s o r I n
<br /> -T =��.�:� Interest ot 9orrnwer shall not operate to release the Itablllty of the original Borrower or BnrrowAr's successor In interest.
<br /> -°-7�� Lender shall noi be requlred to commence proceedings agalnst any succassor In Interest or refuse to extend tfine for
<br /> ____ paymenQ ar otherwlse modffy emortizatlon of the sums secured by this Security Instrument by reason of any demund
<br /> — made by the original Borrower or Borrower's successors In Interest.Any torbearance by Lender In exercising any rlght
<br /> - �- �-i or remedy eFsall not be a wahrer of or preclude the exercise of any right or remedy.
<br /> . - �..� 12.Succ��son and Assigna 8ound;Jolnt er+d Several LlAbll(ry;CaSignero. The covenants and agreements of
<br /> -��_.�..� thls Securi�y Instrument shall bind and beneflt the successors and asslgns of LAnder and Borrower, subJect to the __
<br /> - -- provialons of Paragraph 9.b.Borrower's covenants end agreements shall be Jolnt and several.Any Barrower who
<br /> ____= co-sipna thls Security Instrument but does not execute the Note: (a)is co-slgning thls Security Instrument only to
<br />=;_��-� morigaqe,erant and convey that Ciorrower's Interest In the Property under the terma of this Security Instrument; (b)(s _
<br /> --=--_� not personahy obiigai�io pay tf�e sums secured Uy ii�is Securiiy Insirut�ieiit;a� tcf agreas ti�at Latfd��and any aiher -_---
<br /> 8orrower may agree t�extend,modify,torbe�tr or make any accommaiatlons wfth regard to the terms ot this Securfty =
<br /> �-��---� Instrument or the Note without that Borrower's consent. =-
<br /> =� --�- ' 13.Ploticts. Any notice to Borrower provided for In this 5ecurfty Instrument shall be given by dellvnrin�ft or by ���:
<br />-�=..� malline ft by�Irst cless mall unless applicable law requlres use of another method.The notice shall be directed to tho E
<br />-��- �— Proporiy Address or any other sddress Borrower designates by notice to Lender.Any notica to Lender shall be given �:--
<br /> "� by flrst class mail to Lender's address stated heretn or any address Lender designates by notica to Borrower.Any noUce ---
<br /> "���`� prov�ded for In thla Security Inatrument shall be deemed to have been given to Borrower or LAnder when given as
<br /> 'w�:�.. pr�vlded ln thle paraqraph. � --
<br /> ��`�.; ta.QovwnlnQ Law;Seversbitity. This Security Instrument shall be govarned by Foderal law antl the law of the �_� -_
<br />;- ' urisdlctlon In whlCh the Properry Is located.In the event that any provislon or clause of thi�Securiry Instrument or the
<br /> ' :��.''. �`�; �ote confllcte wfth applicable la�v,such conflict shall not aHect ather provislons of thls Security Instrument or the Notn ��:�-_--
<br /> whlch can be given effect withnut the canHicting provlsion.To this end the provlslona of this Securfty Instrument and the _ --
<br /> ' Note arA dectared to be severable. --_
<br /> ' 1�.Borrowtr'i�opy. Borrowor shall be given one conformed copy of this Security Instrument. _ _
<br /> � 10.A�s{pnm�M of R�M�. Barrower uncondltlondlly aesigns and transiers to Lender all the rents and revenuos of �:��
<br /> :'����-� � � the Property.Borrower authorizes Lender or Lender's agents to collect the rents and revenues and hereby d:recte each '���
<br /> tenant o!the Property to pay the ronts to Lender or Lender's agents.Howavor,prldr to Lender's notice to Boreower ot '�� `�
<br /> � �"°i B�rrower'9 brenCh oi eny covenant or agreemont in the 5ecurity Instrument,eorrower shalt coilect and recetve alt ren4s ;
<br /> � and revenu�e of the Property ae trustee for the benefit of Lvnder and Borrower.This asslgnmont of rents constitutes an
<br /> absolute esalpnment end not an asslgnment for addftlonal securiry oniy.
<br /> If Lendor ylveR notica of breach tu Borrower:(a)ail rents received by Borrower shail be held by Borrower as trusteo
<br /> for boneflt of Lender only,to be applled to the sums secured by tho Socurity Instrumont;(b)Lender shall be entitled to �
<br /> � Cofleat and racolve ell o}the renta of the Property;and(c) each tenant af the Proporty shall pay all rents duo and unpald �
<br /> to Lander or Lender'o agent on Lender's writton demand to the tenant. `
<br /> �� Horrower has r�ot executed eny prlor asui{�nment of the rents and has not and will i�ot perform any act that would
<br />-° ,' :�� �� praven4 Londer irom oxercfsing fte rlghts undor this Paragraph 16.
<br />-. . LAnder shqll nat be roqulred M enter upon,take cnntrol of or maintaln the Proparty before or after giving notice of
<br /> brench to BQrrower,However,Londer or�Judiclalty appointEd recelver may do so at any time there Is a breach.Any �
<br /> Rppllcatlon of rente shall not cure or walve any dofault or Invalidate any other right or remedy of Leiider.Thls
<br /> � asslgnmant nf ronte of tho Property ehall t�rminate when the debt secured by the Securlry Instrument Is pald In full.
<br /> : FIiAHEDRABKA D�'L'D OP TflUST .�• 1��! z��.� 6/B6 '
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<br /> �SC/FMOTNE//0691/(8•45)•L PAOE 3 OF 4 . �
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