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<br />from the date her�f, Lender may, at i1s option, require immediate payment in full of all sums sec�aed by
<br />this Security T++at*��**+��, A written statement of any suthorized agent of the Sec.retaty dated subsequent to
<br />6 0 DAYS from the date hereo� declining to insure this Security Instrumeat and
<br />the Note, shall be deemed conclusive proof of such ineligibility. Notwithst�ding the foregoing, this option
<br />may aot be exercisedby Lender when the unavailability of ins►uance is solely due to Lender' s failure to remit
<br />a mortgage insurance premium to the Secretary.
<br />10. Reinsffitement Borrower has a right to be reinstated if Lender has required immediate payment in full
<br />because of Bortower's failure to pay an amount due under the Note or this Security Instrument. This right applies
<br />even atter foreclosure proceedings are instituted. To reinstate the Security Instrument, Borrower shall tender in a
<br />lump sum all amoimts required to bring Borrower's account ciurent including, to the extent they are obligations of
<br />Bortower undet this Security Instrument, foreclostue costs and reasonable and customary attomeys' fees and expenses
<br />properly associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Security Instrument and
<br />the obligations that it secures shall remain in effect as if Lender had not required immediate payment in full.
<br />However, I.ender is not required to permit reinstatement if: (i) Lender has accepted reinstatement after the
<br />commencemeat of foreclosure proceedings witivn two years immediately preceding ffie commencement of a current
<br />foreclos�ue proceeding, (ii) reinstatement will preclude foreclosure on differem grounds in the fubae, or (iri)
<br />reinstatement will adversely affect the priority of the lien created by tUis Security Instrument
<br />11. Borrower Not Released; Forbearance by Lender Not a Waiver. Extension of the time of payment or
<br />modification of amortization of the sums secured by tUis S�urity Instrument granted by Lender to any successor in
<br />interest of Bonower sball not operate to release the liability of the original Bonower or Borrower's succeasors in
<br />interest Lender shall not he required to commence proceedings against any successor in interest or refuse to extend
<br />time for payment or othervvise modify amortization of the s�s se,c�sed by this Security Instrument by reason of any
<br />demand madeby the original Borrower or Botrower' s successors in interest Any forbearance by Lender in exercising
<br />any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy.
<br />12. Snccessors and Assigns Bound; Joint and Several Liability; CaSigners. The covenants and agreements
<br />of this Secarity Instrutpent sha11 bind and benefit the successors and assigns of Lender and Borrower, subject to the
<br />provisions of pazagraph 9(b). Borrower's covenants and agreemeats shall be joint and several. Any Bonower who
<br />co-sigus this Security Instrument but does not execute the Note: (a) is co-signing this Security Inslrument only to
<br />mortgage, grant and convey that Bonower's interest in the Property under the terms of Uris Sec�uity Instn�ment; (b)
<br />is not personally obligated to pay the sums sec�ued by this Security Instrumen� and (c) agrees that Lender and any
<br />other Bonower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this
<br />Security Instrmnent or the Note without that Borrower' s consen�
<br />13. Notices. Aay notice to Borrower provided for in this Security Instrument shall be given by delivering it or
<br />by mailing it by first class mail unless applicable law requires use of another method The notice shall be dir�
<br />to the Property Address or auy other address Boaower designates by norice to Lender. Any notice to Lender shall
<br />be given by firet claas mail to Lender' s address stated herein or any address Lender desigaates by notice to Borrower.
<br />Any aotice provided for in this Security Instrument shall be deemed to have been given to Bonower or Lender when
<br />given as provided in Uvs paragraph
<br />14. Goverving Law; Severability. This Sec�ity Instrument shall be govemed by federal law and the ]aw of
<br />the jurisdiction in wlrich the Properiy is located In the event that any provision or clause of tivs Security Inatrument
<br />or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument
<br />or the Note which can be given effect without the conflicting provision. To this ead the provisions of this Security
<br />Instrument and the Note are declared to be severable.
<br />15. Borrower's Copy. Borrower shall be given one conformed copy ofthe Note and ofthis Security Inshvment
<br />16. Hazardons Sabstanc�. Bonower sha11 not cause or permit the presence, use, disposal, swrage, or release
<br />of any Hazardous Substances on or in the Properiy. Borrower shall not do, nor allow anyone else to do, anything
<br />affecting the Property that is in vialation of any Enviro�ental Law. The� preceding two sentences shall not apply
<br />to the presence, use, or storage on the Property of small quantities of Ha�ardous Subatances tUat are generally
<br />recognized to be appropriate to normal residential uses and to maintenance of the Property.
<br />Boirower shall prompfty give Lender written notice of any investigation, claim, demand, ]awsuit or other
<br />action by any governmental or regulatory agency or private patty involving the Propetty and any Ha�rdous
<br />S�bstance or Environmental Law of wlrich Borrower has actual ]mowledge. If Borrower learns, or is notified by atry
<br />governmental or regulatory authority, tUat any removal or other remediation of any Ha�ardous Substances affecting
<br />the Property is necessary, Borrower shall promptly take all necessary remedial ackions in accordance with
<br />Enviro�ental Law.
<br />As used in tivs paragaph 16, "Ha�ardous Substances" are those. substances defined as toxic or hazazdous
<br />substances by Enviromnental Law and tke following substances: gasoline, kerosene, other flammable or toxic
<br />petroleum products, toxic pesticides and herbicides, volatile solvenffi, materials containing asbestos or formaldehyde,
<br />and radioactive materials. As used in this paragraph 16, "Environmental Law" means federal ]aws and laws of the
<br />jurisdiction where the Prdperty is located thal relate to health, safety or environmental protection
<br />NON COVENANTS Bonower and Lender further covenant and agree as follows:
<br />17. Aaslgnment of Renta Borrower uaconditionally assigns and transfers to Lender all the tents and revenues
<br />of the Property. Bonower suthorizes Lender or Lender's agents to collect the rents and revenues and hereby directs
<br />each tenant of the Property to pay the rents to Lender or I,ender's agents. However, prior to Lender's notice to
<br />Borrower of Borrower's breach of any covenant or agreement in the Secutity Instrument, Borrower sl�all collect and
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