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<br /> �..�..-__� ...... - ' s�ment�,�rhich are teferred to in Paragraph 3.or chnage�h� Pmc+�mt nf R�kh �wy�riPmR. Aoy eacess procads over w►. ���''�n_��
<br /> � � amountrequired to pwy all outetandins indebudnece w�der�he Nae and�hie Sx�ufry Lutrument�ha116e puid to 1he anllty � � ' ,�..
<br /> ' k��lly enli�ledthercto. .
<br /> 8. Fees. Lender mAy collect fees and chor�ei au�ho�iud by the Secretary. _
<br /> ` ' � ' 9. (irouods for Accekrallon o�Debt.
<br /> (�►Def�uN. Lender may,except w�Nmited by regulations issued by�he Secrctary in�he cace of payment defaulte.
<br /> i � � require immediate paymenl in full of ull sums ucured by�his Secudty InsUUmeot ii: �'���?���.��
<br />' (i)Bomawer defaulta by failing to pay in full any mon[hly peyment rcquired by lhix Security I�strument prbr r " , 'T�'
<br /> � � J to ar on the due date of the nest monlhly paymenb or ' "
<br /> J (iq 6orrower defaults by ipiling,for w pedad of Ihirty days.W pe�form any oUur obligatioot canWned in�his l.. . � ;• :��"�,.;�
<br /> ��`'� Sccudty Instrument. � -
<br /> � (b)Sak Wlthout Credit Approval. I.ender shall.if permitted by appUcablo law and with the prior approval of Ihe � --
<br /> Secre�uy,requiR immediate payment in iull of all the sums secu�eA by thia Security Instrument ii: �+� _..
<br /> (i)All or part of the Property,or a benef7cial intere�t!n a tmst owning aU or pari of the Propeny, is aold or __�-°"`��
<br /> othenvise trensfemed(other then by dEvise or deacenq by the Borrower,and .�-�-
<br /> (if)'ihe Property ir not occupied by�he purchaaer or grantee�s his or her principal residence,or the purchaser �;^;�...__. —
<br /> � ' �� or grentee daes so occupy the Prdperty but�hir or her crcdit has not been approved in accordance ;,�_v�—!
<br /> whh thc rcquirements of 1he Secretary. -- _
<br /> � (c)Na Wifver. If circumata�as occur that would permit Lender to reyui�e immediate puyment in full,but Lender � �
<br /> „ docs not rcquire suchpayments,Lender daes not waive ils rights with rcspect to subsequent evenls.
<br /> • (d)Re�uladoes ot HUD Secretwry. 1�meny clrcumstances regulations isaued by the Secretary will limit Lender's _
<br /> dghta,in the case of payment defaults,torcq uire immediate payment in full and fareclose if nc�t paid. 7'his --_---_
<br /> SecurUy Instrument dces not authoriu acceleration or foreclosurc if not permiqed by regulations of the Secrctary. ��'��� �
<br /> � (e)Mortgoge Not lnaured. Horrower agrces that should this Security[nstrument and the note secured thereb not �'"°^�-�
<br /> y r ,•�,-----
<br /> , k eNgible for insurance under Ihe National Housing Act within from the _
<br /> � . date hereof,Lender may,at i�r option and notwithstanding any�hing in Parogtaph 9,require immediste paymenl in __ -. --- - -
<br /> � PoII of all sums securcd by this Secudty Ins�rument. A written s�etement of any authorized agent of the Scerelary =
<br /> dated subsequent to from the date hereof,declining to inaute Ihis Secudty
<br /> � . Instrument and the note secured�hereby,shall be deemed conclusive proof of such lneligibility. Notwiths�anding �.
<br /> � the forcgoing,this option may not be ezercised by Lender whcn the unavailability of insurance is solely due to
<br /> l.ender's fuilure ro remit a mortgage insurwice premium to Ihe Secrelary. __
<br /> 10. Refastatemenl. Horrower hac a�ight�o be reinsta�ed if Lender has nequired immaliate payment in full because
<br /> of Bomower�s failurc to pay an amount due under the•Note or this Securily Insaument. This nght applies even after _
<br /> foreclosure proceedings are instituted. 'Ib rcinstate the Securiry lnstrument, Borrower shall tender in a lump sum all
<br /> • amounts rcqulred to bring Barrower�accaunt current including,to the extent they are obligatianc of Barrower under�his --
<br /> Sxudty Inswment,forocloaure costs and reasoneble and customary attomeys'fees and eapenses properly associated wlth __
<br /> _� �he forcclasun proceeding. Upon reinslatement by Borrower. this Security Instrument and�he obligutions thut it secures
<br /> ___ _ _ _ shall remain in effect as lf Lender had notreq uiRd immediaie payment in f ull. However,Lender is not requirod to permit
<br /> reinatatement if: (i) Lender has accepted Rinstatemrnt after the commencement of foreelosure proceed�ngR wnhm two —�— --
<br /> years immedi�tely preceding Ihe cammencement af a current foreclasure proceeding, (ii) reinstatement will preclude ���-
<br /> � foreclosure on differcnt grounds in the future, or(iii)reinstatement will adversely affect the priority�f the lien created by -:-_
<br /> - , this Secudty lnstrument. i'`-
<br /> • l l. Borcower Not Released= Forbewraace by I.ender Not a Waiver. Extenaion of the time of paymen� or �',��`'`°=��- ,
<br /> ' modificatbn of amortization of the sums secured by thfs Security Inatrument grnnted by Lender to nny successor in inle�est �,`,;;:t�H•;��
<br /> of Borrower ahell not operate to release�he liability of the original Bnnower or Bortower�s successor in intercgt. Lender � , •�;`
<br /> shall not be rcquired to commence praceedings agninst any auccessor in interest or refuse to exlend time for pnyment or �� ' ,y`'�`:�
<br /> otherwise modify amortizntion of the sums secured by this Securiry Instrument by rcu.gon of uny demand made by the ! � . .:'�,�'�=-
<br /> original Borrower or Borrower's successors in interest. Aoy forhearence by Lender in eaercising any�ight or remedy shall ; _____
<br /> not be a waiver of or preclude the exercise of any righ�or remedy, � , �
<br /> � . ' 12. Successors and AsslgnA Hound;Joint and Several Llablllty;Co•Signers. The covennnts and agreements of
<br /> • • this Secudty Instrument shall bind and benefit the successorx and ussigns of l.ender ond BoROwer,subjec�to the provisions j
<br /> of Paragrap6 9.6. Borrower�s covenants and agreements shpll be joint und severol. Any Burrower who co-sigos Ihis ,
<br /> . � � Security Insuument bul dces not execute the Note: (o)is co-signing this Security Instrument only to mohguge,gmnl und
<br /> •� convey Ihat Borrower�s interest in the Propeny under Ihe tetms of Ihis Security Inxtrument;(b)ix not personnlly oblignted to ^. ��c:�==.-,
<br /> a the aums securcd b this Securit Instrumenl;nnd(c)u rees Ihat Lender ond an other Borrower mn a ree to extend, '-�"°
<br />__ ' � I moydlfy.forbeor or make any accommodations with regard to the terms of this Secunty Instrument or the Nogte witnout that ' `;•�i�
<br /> , � Borrower�s cansent. ' , �,;-`
<br /> , i 13. Natices. Any notice ro Borrower provided for in�his Security Instrument shnll be�iven by delivering it cx by , ..�•�� ;; -.
<br /> mailing it by lirst class mnil unless applicable low requires use of anather me�hod. 71�e notice shnll be direcled to the � .
<br /> � '' ' 'i Property Address ar any other nddress Borrower designates by notice to Lender. Any notice to Lender shal)bc given by ' �
<br /> first class rnail to Lender's addrcss stnted herein or nny address Lenc';r designates by notice to Borrower. Any naice
<br /> � provided for in this Security Inswment shall be deemed to hwve been given to Borcqwer or Lender when given as provided
<br /> , , . in this paragnph.
<br /> _ 14. Governing Law;Severabllity. 'll�is Securiry Ins�rument ahall lx govemed by Fedeml luw und thc Ivw of Ihe
<br /> luriwlic�ion in whfch Ihe Property is Mcated. In the event�hut any provisinn or clause of thix Security Inalrumenl or Ihe
<br /> , � Nnte conllicts with applicable Inw, 4uch contlirt shnll not uffect rnher pmvisions of this Securily Instrument or the Nole
<br /> which can be given ettect wnhout tite contlicting provision. 'Ib�his end the provicions ot th�s 5ccurity In4trument and 1he
<br /> Note ore declared to be sevarable.
<br /> , � . I5. Borrower's Copy. Borrower shull he giveo one conformed copy oi�hix Securily In�trument. .
<br /> 16. AsalQnmenf of Rents. Bortnwer uncanJitionally ostiigns:mJ trunefers to LenJer nll the rcnls nn�mvcnues o(�hc
<br /> -- PropeRy. Borrower uuthorizes Lender or Lender's ngents ro col Iect Ihe rents and rcvenues nnJ hereby dirccts cuch tenemt of
<br /> the Propeny to puy thc rents to Lender or Lender's ngems. However, prior lo Lenders natice In Horrowe�of Rom�wer's
<br /> breach of any covennnt or agrcement in the Securi�y Instrument,Borrower shall collect und receive all rents and reveuuex of
<br /> the Propeny os ttustee for the benefit of I.ender ond Borrower. '1'his oasignment of rents constitutes un nbxolute assignment
<br /> ond not en assignment for adJilional security only.
<br /> If Lender gives notice of breach to Borrower: (ul nll rents received by Bormwer shull be held by Born�wcr us tn�ttee
<br /> for benefit of Lender only,to be applied to the qums secured by the Scrurity lnstrument; (b) Lender xhall he cntitled lo
<br /> collect ond receive nll�f Ihe rents of the Pmpeny;:md(c)exh tenant of�he Rvperty shall pay all rent4 duc and unpaiJ to
<br /> ' � Lender or Lender'.s agent on Lender s written demund to the lenant.
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<br /> " ' u.ni��:ii .�oi:v:....�....• .........:..�.....:..«».�... .. ......• . .. ..... .... .... ....• . .....
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<br /> prevent Lender fmm exercising its nghts under t�ii�Pnrugruph 16.
<br /> � Lender�hall not be rcquired to enler upon,tuke control of or muiMain the Pmperty hefom or ufler giving nntirc c.f
<br /> � brcach to Bcumwer. However. Lender or a judicinlly uprointed receiver muy ck►so ot uny time therr is a breuch. Any
<br /> applicution o(rcnts shull not cure or wnive any Jefault or mvuliJate nny other riFht or remeJv of LenJer. This utisignmenl
<br /> of renta of the Pmpeny shull terminate when Ihe debt secured by Ihe Security Instrument is paiJ in full.
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