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<br /> paymenis.which Arc rafcmed to in Prua�nph 2�, ar change the emaunt oF�uch poyments. Any excexx proccedx ovcr s►n
<br /> �mauntroq uirod w p�y dl out�t�ndinQ indeb�ednea under q�c Nate ond thiw Securiry insm+mant rh�ll be pwJ to the entlty
<br /> __ k�allp entilled�het+eto.
<br /> • S. �len. Lender may collect fees and ciwr�es authorized by ihc Secrctary.
<br /> • .,;,�°�::. 9. Orounds tor Accekration af Debt.
<br /> •� (a)Ikt�ul� Lender may.cxcept as limfted by tegulaiians issued by�hc Secretary in the cwcc of puymcm dcf�ullR,
<br /> � S requiro immediatepayment in full of�ll suma�ecured by�hia Secu�ity Instrument if:
<br /> - (i)Borrower defaultq by feiling lo pay in full any manthlY paYmcnt requircd by lhis Securily Inxtniment pdor c
<br /> to or on the duo date of the next monthly payment,oe
<br /> -�^�^=-?�� (ii)Bormwer dcfaults by failin�,for a period of thirty deyr,to perf'arm any other obligalians conteincd in�his
<br /> z������ Security[nsdument.
<br /> --�;� - (b)SWe W(thout Credlt Approv�l. Lender xhall.if permitted by applicoble law and with thc pr�or upproval of the
<br /> — � -' Secretary,require immaliate payment in full of all the sums sccured by this Securlry Inxtrument if:
<br /> •,�• (i)All or part of the Property,ar a beneficial interest in a tnist owning all or part of the PrapeRy,is sold or
<br /> � �-�_..-�, otherwise dansferred(olher thon by devise or descent)by the Borrawer,and i
<br /> �� (ii)The Propeny ie not accupied by the purchaser or grnntee us his or her princlpsl residence,or the purchaser
<br /> .�,,�;.�:�u�;,�;!.y or grantee daes so occupy the Property but his or her credit has not been approved in rcrordance
<br /> wfth the�equircments of the Secretuy.
<br /> '��i� (e)No Waiver. lf circumstances occur that would permit I.ender to require immediate payment in full.but L.ender
<br /> dces not requir+e auchpaymenta.Lender daes not waive its rights with respec[to subsequcnt eventg.
<br /> °'* ' 4� (d)Re�utAtlot�s ot HUD Seeretary: In meny circumstances rzgulations issued by the Seccetery will limit Lender x
<br /> �q�r•�n � •••� dghts. in thc case of payment defaults, wrequirc immediate payment in full und foreclose �f not paid. 'Ihis
<br /> _ .i�i;r:�` Security Instrument�3es not euthorize acceleration or Foreclosure if not permitted by regulations of the�ecrewry. `
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<br /> - ��r'�"' � ii1� (e)Mortg,�ge Not insured. Borrower agrees that should�his Security Inswment and the note secured�hereby not
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<br /> ��L•� be eligiblc for insurance under thc National Housing Act within from the
<br /> --��.�����•� � �A date hereof,I.ender may,at ita option and notwithstanding anything in Puragraph 9,require immediate payment in _
<br /> ° full of all sums secured by this Securiry Instrument. A written statement of any authorized ugent of the Secrewry -
<br /> - :�' "`'.'-';�'T`. dated subsequent ta from the dete hereof,declining to insure this Security
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<br /> _����� Inswment and the note secured thereby, shall be deemed conclusive proof of xuch ineligibility. Notwithstanding
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<br /> the foregoit�g, �his option may �wt be exercised by Lender when the unavailability of insurance is xolely due to
<br />-_= � Lender's failu�+e ro ramit a mortgage insurance premium to the Secretary.
<br /> - °' '?�� '�;3f 10. RelnetAtement. Borrower has a right to 6e reinawted if I.ender has nequired immediate payment in full because
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<br /> � �• %�•�:;�_ of Borrower�s fuilure to pay an amaunt due under the•Note or this Security Instrument. This nght appliea even after
<br /> �=• �� forecloaure praceedings are instituted. 'fb reinstate the Security Instrument, Borrower shall tender in a lump sum all
<br /> �� '���' •��'�*`, amounts srqa2nd io bring Bom►wPrh accnunt cument including,to the extent they are obligations of Borrawer under this
<br /> -_ "�;i:•'u?;i:?, Security Insuvment,foreclosure cosGc and reasonable and customary anameys'fees and expenses properfy assacia�ed wich
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<br /> '� •y�' �.. ��+ - the foreclosure proceeding. Upon reinstutement by Borrower. this Security Instrumen!and the obligntians that it secures
<br /> -_ �,.,;�„r�,� shall remain in effect sis if Lender hnd nd reyuired immediate payment in full. However,L.ender is not required to�crtnil
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<br /> ' ;�. ,-�..:� •• ' reinstatement if: (i) I.ender has uccepted remstatement after the commencement of foreclosure proceedings withm two
<br /> ' aE�'>�' years immediately preceding the commencement of a current fareclasure proceeding. (��) reinstatement will preclude
<br /> �•; f - foreclosure on different grounds in the fuwre,or(iii)reins�utement will adversely affecl the prioriry of the 8en created by _
<br /> �� ,� . �:���' lhia Securiry Instrument.
<br /> - +�.:�;.-,;;:. • 11. Borrower Not Released; F'orbearance by I.ende� Not A Walver. Extension of the time of payment or
<br /> . � �;,•' modification af amortizs�tion oithe sums secured by this Security Instr�ment grnnted by Lende�to any succescar in interest
<br /> . � ,,, of Borrower shall not operate�o releuse the liubility uf the originnl Borrower or Borrawer�successor in interest. Lender
<br /> . ��,,••_, . .L'� shall not be required to commence proceedings ugums�anX succestior in imerest or refuse la extend time for payment or
<br /> , 'e ,, .. � . otherwi�ce modify omortization af the sums secured by this Security Instrument by reason of uny demand made by the �_
<br /> - ori�foal Borrower or Borrower'.s succe+so� in interest. Any for6enrrance by Lender in excrcising any right or remedy shall
<br />- � '�i3-. �,.,..���� . not 6e a wuiver of or preclude the exerci�e of any right ar remedy.
<br />�- �,,w.M 12. Successors and Asslgos Baund;Joint and Several Llabililv; Co-Signers. '1'he covenants nnd agreements of __
<br /> - `�;� ,;,�-� ' this Security lnstrument shall bind and benefit the successors und ussigns of Lendcr und Bortower,subject to the provisions __
<br /> c� : ,.�;?. � � of Puragrnph 9.b. Borrower's covenants und agreements shull be joint �nd severul. Any Bonower who co-signs this __
<br /> �`• �'':_:�. Securfty Instrument but dces not execute the Note: (u)is co-xigning this Security Instrument only to mortguge,grant and R
<br />- '�; ° � ' ' . convey that Borrower's interest in the Praperty under the tertns af thi�Security Intitrumcnt;(b)is not personully obligated to
<br /> . ' ���'� � pay the sums secured by this Security Instrumenr nnd(c)+�grees thut l.ender und uny other Borrawer muy ugree to extend. ��
<br />```! ; ���-;,, � " modify,forbear or make uny accommalulions wi�h regurd to the terrns of this Security Inxwment or the Note without IhAt
<br /> :•;,, . r , Borrower's consent.
<br />- 13. Notices. Any notice to Borrower provided far in this Security Intitrument shall be given by dclivering it or by
<br /> r� � ,, mailing it by first class muil unlesx upplicahle law requires use of:moihcr methad. 7'hc nouce shall be directed to the _
<br /> ,• . •��$� ,vs Propeny AJdrexs or uny aher uddress Borcowcr dcsignutcti by notice w Lcndcr. Any notice to Lender�hnll be given by ��
<br /> """'' �`� first class mail to Lender's uddress stutNd hcrein or uny uddress Lender de�i�nntrti by nutice to Borcower. Any nrnicr,
<br />"✓ � ' � �`•:�,;. „ � Qrovide�i far in this Security In.tnimcnt.hull hc deemed to huvu been Fiven to liorrower or Lcnder when given us provided �_
<br /> ,. ``'�� �n this pum$ruph. �
<br /> 14. Uoverning I.uw: SeverabHity. Thi� Security Inxtrumcnt shall Fx govcrncJ by fYderul luw und the luw of the
<br /> � ., � jurisdiction in which the Property iz locuted. In ihe evau�hut uny provi.ion ur rlau.c of�hi.Security Instrument or the -
<br /> Note wntlic4ti with ap�licublc luw,such ronllirt sh:dl nc�t uffect�riher pruvitii�m�uf thi+ Scrurity Instrument or ihr Ni�te
<br /> . '" . which cun he givcn eftect without the c.ontlicting provi�ion, T.�ihis rnd thr pruvisiom of thi. Security In+trument und the
<br /> ' Nole ure declarcd to be scvcrublc. -
<br /> I5. Borrower'�Cup�v Borcowcr�hall tx�.ivrn�mr c�ml'�mnc�i ropy ul'thi�Scrurity Imtrumrnt.
<br /> 16. Assignment uP Renls. kiurrower uncnnJitiun:dly:�.�i�n�cind�ran.ter.a,Lrndrr.ill the rentx and revcnuc.of tFx €
<br /> } , Property. Borrower authori�c,Lrnder ur L.rnJcr:a�rnh to rullect thr rcnt.and rc�•enur.:md hercby Jirect,ruch tenant of t
<br /> • � the Property to puy the rcnt� to Lrnder�K l.cnd�r: ut�entw Huwrvrr.priur tu L�ndrr:n��lire to Burniwer of Rorrower+ �
<br /> , � _ brcach oFany covenant or agreemrm in lik tircurity In,trument,Borr��wer�hull rullcrt and rerrivr•rll nm+and rrvenuc�ul' '
<br /> , the Property us Irustcc f�r thc Ixnrtit ot't.rndcr anJ Horcowcr. Thi�us,ig�umnt uf rcnts run+litmrs an ah.a{utc usxignmrnt �
<br /> und not an ussignment For additionul�rcurity only. i�
<br /> �� ---- - - - - --z-�--- If 1��ndrr uivn.n�u�r�•��i hrc:�ch���H�irtowcr: �v1 all rcnts nccived hY H��rruu�cr.hull ix hrld by tii�rro�vcr uti truxtc� r
<br /> for benctit ot'Lcnder only.tu tk applicJ tu�hc +wn..crured hy Ihr ticcuritv In�lrwmnt: Ihl Lrndrr �hall tx emuira to �
<br /> , collect wid receivr all of Ih� rcnth ol'the Pro�xrty::�nd Irl�uch ienunl ul thr I'tu�xny+hall pay all rcnt�duc urni unpaiJ In ;
<br /> . Lender�ir Lcndrr',ugent un LcnJrr'��vriucn Jrm:md tr tlir ten:mi.
<br /> Bnrcowcr hus not rxrcu�ed :�ny rrior ati�ignmrnt ut'thc rcnt� anJ hu. m�t and will nut �xrti�mi .my act th•rt w��uld ,
<br /> ��� � prevcnt Lender frcnn rxercisin�:it�right,w�drr thi�Nuragr,iph 16.
<br /> � Lrnder�hull nu� Fx reyuired to rmcr u�m,lukr r��ntrul ul ur mamtuin thr I'n��xrty Ixtim ur:dicr�:i�•in� ikmrc ul ,
<br /> • " � brench to Bortoa�r. Huwiwcr. LrnJrr ur ;� judiciall�� :�p�x�intcJ rrrri�•�r m:��•do.i�:u :�ny limr Ihrrr i, :� hnarh. ��m
<br /> � , upplicatian of mnts shall noi cun ur waivc any JrI:mU ur in�alidutr any uthrr ri�;ht ur rrm�dy ul Lrndrr. "I hi.u.,i�:nm�iu
<br /> . , .t of mnts of th�Pru�xny shuU tcnninaic whrn�hc deh��ccured hy d�r Srruril� In,trumrnl i,ua��i m full.
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