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<br /> • ;; . . RE•RECORDEU 9Z.�.. 10�Q�3
<br /> payments,which are�eferred ro in Paragraph 2.or change �he umuunt uf buch paymcntx. Any cxccss procccds over nn _
<br /> -_— �nwuntrcq uirc.d to pay�11 outawnding i�deb�edm�s wider the Note and this Securfty Inatrume�t ahAll be pafd W Iho endty
<br /> - �e�lly a�tided thereto.
<br /> ,� 8. �ees. L.ender may collect fees and chwrges eu�horlxed by Uu Saveuuy.
<br /> .. 9. (irounds for Accekrallon ot Debt.
<br /> (p)De�aulf. Lender may,eacept as Nmitcd by regulat�onq issued by Ihe Sccre�nry in the case of paymutt dcfaults.
<br /> �oquire immodistc payment in full oi all suma socurcd by this Security Insnument if: -
<br /> (i)Borrower defuults by failing�o pay in full any momhly payment rcquired by this Securlty lnctNrnent pdor �
<br /> .;� to or on the due date of the neat momhly pnyment,or
<br /> ,� (ii)Borrower defaultc by failing,for a period of thiny days,to perform any other obligetions contairud in�his
<br /> ' Securfty InstrumenG
<br /> '������� � (b)Sale WiWout Credtt Approval. Lender shall,if permiaed by applicable law and wi�h the pr�or approv�l oi�hc
<br /> �-- gec�stary.require immediete payment in iull of s�ll the sums secured by this Security Inst�ument iE
<br /> ,s�;�r1,�;;,=.,� (i)All or part of�he Property. or a heneficial i�terest in a Irust owning all or puA of the Property, ia sold or
<br /> —_ �;.�`:.�-�:•:_�� otherwise transferred(other lhan by devisc or descent)by thc Borrower,und ___
<br /> ���:-'.� L=<• (ii)The Properry is not accupied by the purchaser or grantee as his ur her principal residence,or tMe purchuser
<br /> -`�`" ''` or grnntee dces so occupy the �'roperty but his or her credit has not been upproved in uccordance _
<br /> ��� •. : �- with thc requirements of the Sec�etary.
<br />_�. :=• •j�;;,?�� (c)No WAlver. If circumatances occur thut would permit Lcnder to require immediate payment in full,but Lender
<br /> does not require suchpaymenGs,l.ender does not waive its rights with respect to sub.sequent events.
<br /> � ' (d)Re�ulations of HUD Secretary. In many circumstances regulations issued by the Secreuuy will tlmit Lender's
<br /> ; •" •'`' rights, in tho case af payment defaults,to rec�uire immediate payme�t in full and far+eclose �f not paid. 71�is
<br /> � _ `:�''�'�"" Security Inswment dces not uu�hodze accelerenon or foreclasure if not permitted by regulations of the Secrctary. 6_
<br /> _— "'�:'*�:.�C;. �1.�
<br /> : . ��v �,.�` (e)MotKgAge Not Insured. Borrower agrees that should this Securiry Instrument nnd the note secured ttxreby not
<br /> 5. ,�.,�,r;.., ., t from tbe
<br /> s,�� � < be eligible for insurance under�he National Housing Act within 8 mon h8
<br /> ����� �' date hereof,Lender may,at its aption and nawithstanding unything in Paragroph 9,require immediate payment in _
<br /> r�.; --
<br /> ' µ full of all suma secumd by this Securiry Insuument. A written statement of any uuthorized agent of ihe ecretary
<br /> ' ^'� •�•• �• =4 dnted subsequent to g mopt hs from the dute hercof,declining to insure�his Secudty
<br /> ��'1' :'!�:,:;".'� Instniment and the nate secnred thereby,stwll be deemed conclusive proof of auch ineligibility. NotwiihstAnding 4
<br /> - _ � ' �°' "` the foregoing,this opuon may not 6e exerefsed by Lender when �he unnvnilubility of insurance is solely due to
<br /> � � �� 's� Lender�failure to remit a m�rtgage insurance premium to the Secretury.
<br /> -- ' 10. Reinstatement. Borrowcr has a nght to be rei�stated if Lender has required immediate puyment in full becaur,e
<br /> — � ,'�- of Borrower's failu�e to pay an amount due under Ihe•Note or this Security Instrument. This nght applies even after
<br /> ,� j���.-r,-A = fonxlosure proceedings arc inadtuted. 'ib relnstate the Securiry Insuument. Borrowcr shall tender in a lump sum all
<br /> -�.-- - :-__- -_ _ ass�ounts stquired to bnng Eiormwerc account ewrent including,to�he extent thay arc obligations of Borrower under�his
<br /> -- Securiry(nstrument,foreclosure costs wid reosonabk and customnry attomeys'fees nnd expenses properly sissaciated with
<br /> - - ��%�•--� • the foreclosurr proceeding. Upon reinswtement by B�rrower,this Security Instrument s�nd the abligations thet it secures
<br /> shall rcmain in effect ag if Lender had not rc,�uired immediute payment in full. However,Lender is not requircd to�ermit
<br /> �,�: ' �'•�••°• reinstatement if: (i1 Lender has accepted re�nstatement after the commencement of foreclosure praceedings withm two
<br /> �: years immediately precedins the commencement of � current foreclosure prceeeding. (ii) reinstatement will preclude
<br /> ''_'' � ��i'_° ''.. � foreclosure on diffemnt grounds in the future,or(iiil rcinx�utement will advertiely nffect the prioriry of the lien crcated by �
<br /> - - this Securfty Instrument.
<br /> _•- t l. Borrower Not Released: Morbearance by Lender Not a Waiver. Extension of the time of pAyment or
<br /> ' .�' modificution of amortization of the sums secur+cd by Ihis Securily Instrument grnnted by Lender to nny successor m intcrest
<br /> - : •� � of Borrowcr shull not operute to r�eleace the liubility of the original Borrawer or 8orrower's successor in inteRSt. L.ender __
<br /> � - ,. . :;�,..., shall not be required to commence pracecdings ugninst uny xuccessor in interest or rcfuse to extend time for payment or
<br /> " - otherwise modify amortizution of the sums tiewred by thi� Securiry Instrument by reuson of uny demand made by the ��`'
<br />�, , odginal Borrower or Bortower's.r•uccessors in in�erest. Any Forbear:u�ce by Lender in exercising uny right or rernedy shall —
<br /> .,n. ..• •t' not be a waiver of or preclude the ezercixe of any right or remedy.
<br /> -• l2, Successors and Assigns Bound;Joiat and Several LiAbillly: Co-Sig�ers. The covenants and ugreemems of ��.
<br /> .�...; this Security lnstrument shall bind und benefit the tiw:cesson und us�ignz nf LcnJer und Borrower,subject to the provisions ____.
<br /> �"�`. � w� '` of Parngraph 9.6. Borrower� cavenams nnd agreements tihull be joint and ,everul. Any Burrower who ca-signs this
<br /> . -�;
<br />_ • • � Security Instn�ment but doer not execute the No�e: (u)iw co-signing this Seruriry Instrument only to mortguge.grunt und
<br /> -_ ' �'�"'••<' convey that Barrower�s interest in thc Pmpeny undcr the�cnns of thiti Security Instrumenr,(b>is not personAlly oblig�ted to �_;
<br /> � Fuy the sums secured by Ihi�Securily In,trumrne :�nd (cl ugreeti that Lendcr unJ uny wher Burmwer may Ugree lo exlend, �•,.
<br /> �, .,, :.�•_ ' mod�fy,farbear or mnke uny accomnu►Jutions with rcgurd ro the trrms of thi+ Security Instrument or the Note wi�hc>ut thut
<br />�. }�•.. ;�•. - , Borrower ti consenL =
<br />- � �• ' w, 13. Notiees. Any noticc io Borrawer provicicd fur in�hiti Sccuri�y In+trumrnt xhs�ll be given by delivering it or by
<br /> �-'•���� mailing it by first clu+s m�il unlc�s upplicable law reyuires u�c of unolher nmthai. The notice tihull be dirccted to the _
<br /> ' properly Address or uny other aJdrcss Borrower dcsignulcti by noticc to Lcndcr. Any nnticc lo Lender shul)be given by `LL
<br /> s;ap.�c=• • • Ti�st class muil to Lendcr; uddrcss stuted herein a any uddrcs. Lcnder dc.ignatc�hy notice to Borruwer. Any notice I �
<br /> ; , Provided far in this Security In.trument xhall ix dcemrd�o huvc been givrn to Hnrrower or Lendcr whcn Fiven as provided �
<br /> m this parugraph. ti.
<br /> �. ,�r.. ' 14. Governing Law: Severabillly. Thiti Sewrity Instrumcnt ,hull hc govcmed by Feder�+l luw und the law of�he
<br /> 'urisdiction in which lhe 1'roperty is Iac�teJ. In the rvent tha� •rny pruvi.ion ur cluuse of this Security Instrument or the ��•`�
<br /> � �; �• � �ote conflicts with upplicuble I•rw,such �onflict tihall no� affect othrr pr��vi+ionx of�his Srcurity Instrument or the Note
<br /> which cnn be given etPecl without the conflietinK Fxovision. Ti�thi,cnd the provi�ion.a�f Ihi.Sewriry Insirument and the
<br /> Note un�declared to bc�cverublc. '
<br /> . IS. Borrower's Cupy. Borrowrr+hall Fx given�mr runfunncd copy ot thi.Srrurity In.trument.
<br /> . , • ' 16. AssiRnment oP Rents. Borro�srr unrandilionuU��a��i�,m:md tr.in,lrn ti�Lrndrr all the rem�:md revcnuc�of thc
<br /> property. Born►wer authorit.c�l.end�r�K Lcndcr� aErnt+iu collrrt thr rcna anJ rc�•rnuc.und her�by dimct.each trnam ol' 1
<br /> ' v � the property to pay thc rents w Lender�ir Lrndcr'.a�enl�. HuHrvrr.priur tu Lrndrr: n�nicc t:i Born�w�r af Borrowcr'+
<br /> ` breuch of uny envcnunt or ugrcemenl in Ihe Scrun�y In,trumrm.B��rro�ver•�hall collrct and rrccivr ull rcnl. und revenue�of
<br /> .:}. ' '�� the Property us tru�tce far th�Ixnetit iN'(_endrr and Burruwrr. 'Thi�u�tii�nment��f rrms c�,ntititute�un uh«�lute assi�nment �
<br /> �� � ' und not un auignment ti►r aJJilianul ticcuriry only.
<br /> 4' If I.ender eives notice of bmurh tu E3on�ower: I;U all rent.recrived hy H�irto�vrr�hall t+r he1J hy Born.wer uti tru�tee �
<br /> � for txneGt af Lender only, lo Ix upplicd m thc.um. ucurcd hy ihr Srcurity In,trumcnl:Ihl Lendrr xnall nc entitica [o
<br /> �� wllect a�d receivr ull uf thc rcnt.of'tl�e Rupeny: ;mJ lcl carh trn:uit�,f thc 1'roperty shall pay ull rentti due:md unpaid to
<br /> � Lender or LcnJer:ugcnt��n Lrnder�wrinen Jemund ta thc trnant.
<br /> Bormwcr hus not cxcrutcd :uiy priix ussignmcnt of thc rrnt� �nd ha+ nu�und will not �xHi�rm :my uct that µ•ould
<br /> � prevent Lender fn�m exeni.inF it,ri�,his unJcr�hi.Par�graph 16. �
<br /> ° Lender shull not he rtyuimJ la ent�r upun, t;dce contml oi'nr muintuin the Nroperty IkTore ur ul'�rr�iving n.niee ��f
<br /> breach tu Burn�wer. However.Lcndcr or u judicially appuintrJ rcrcivcr may Ju �o�t any iimc Iherc i. u brcarti. Any ,
<br /> ' " •- ' upplication of rcn�.shull not cun�ur woive uny detault or�nvvlidu�e uny�nhcr ri�;ht ur r�mcdy of Lendec 'This aasi�;nmcnt
<br /> . of renls of the Property tihall Irtminatr a•hcn thc dcbi sccured by thr Scrurity In.trumcnt i�paiJ in full.
<br /> . ,. " ,_.� ��w,r�•?„��r��a�•.,i
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