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<br /> paymenta, which rre�cfernd ro in Huag�ph 2,ur chrnge the amount oi such paym=nts. Any excesx procceds over an
<br /> �mount requirod W p�y all autw�tdin�indabledne�w under ihc Notc and lhis Securlty I�slrumcnt�iwll bo pajd w Ihe eotily
<br /> leQtlly entitlod thercto.
<br /> S. Fleea,L.ender may collect fees and clwr�es qu�tarized by the Secrctary.
<br /> •� +.. 9. (iroundr for Acakrallon ot Debt.
<br /> ., • ,.�°:� (�)De�aul� Lender may.except as limftcd by regulations issued by the Secretsuy in the case of puyment def�+ult�.
<br /> . Rqulre immedfate p�yment in full of all sums secwed by thia Secudty Instrument if:
<br /> - • • (i) Bomower defaults by feiling to pyy in ful l any momhly p�ymcnt reyuircd by this Security Inatrument prior
<br /> to or on 1hc due datc of the next monthly paymcnt.or `
<br /> :, (ii) Borrower defaulfs by f�fling,for a pedod of thirry days.�o perForm ony other obligations contained in this
<br /> ---- -� 5ecurity Instrumen4
<br /> �-��-����-=�a��-� (b)3ale VYitlaut Credtt Approval. Lender shall,if permitted by applicablc law And with thc prior upproval of thc
<br /> -=:,�„ �• � y� - Seeret�ry,require immediAte payment in full of All the suma secured by thia Security Insuument if:
<br /> - - (i) All or pa�t of the Propeny.or a beneficis�l intercst in a ttust owning all or purt of thc Propeny. ia sotd or
<br /> �� ` dherwise transfornal(other than by clevlse or dec�:ent)by the Borrower,and
<br /> � '`'�`v� ' =� (ii)The PropeAy is not ocrupied by lhe purchaser or grnntee as his on c�r princip;►1 residence,or the purchaser
<br /> �'�"i"'--=-----"`'"•• or granta das so accupy the Property but his or her credit hos nW been approved in occordance
<br />� •��r=���.a�t� with ihe reyuircment�of the Secretuy.
<br /> • �^-`' (c)No Woiver. If circumstanccs occur that would permit l.ender to require immediate payment in full,but Lender
<br /> — �--- does not Rquire suchp�yments.Lender does not waive its�ights with respect to subseyuent events.
<br /> s `-r-�; ; ' (d)UeQulnNoas of HUD SecretAry. [n many circumstunces regulattons issued by the Secretury will limit Lender's
<br /> `:°ta;�a•�-;: `. �igbis, in the case of payment defaults, toreq uiro immediate payment in full and foreclose �f not psid. Thic
<br /> :�.•�-. Security Inaerument dces not uuthorize acceleradon or foreclosure if not permitted by regulations of the Secretsuy.
<br /> T';�;'•••���;r�-�,���;;�� (e)Morfgage Not Insured. Borrower agrees that should this Security Inslrument and the note secured thereby not -
<br /> �L°':'"''. �,;;y� � be eligible for insurance under the Nutional Housi�g Act within 8 months from the
<br /> -•�:�;�.'.; ��;' date henof. Lender may,at its option end notwiths�anding nnything in Pcvaagraph 9,require immediate payment in
<br /> i ' � �s�- = �w•. full of all sums secured by this Security Instrument. A written statement of nny au�horized agent of�he Secretary
<br /> 1,
<br />_ `� , _t• dated sub.sequent ta 8 moAths from the date hereof,declining�o insure Ihis 5ecurity
<br /> , Inatrument and the note secured thereby,shall be deemed conclusive proof of xuch ineligibility. Notwithstanding
<br /> =`�� . . the foregoing,this opdon may not be exereised by I.eixfer when the unavailubility of insurunce is solely due to
<br /> � � �` L.ender�s failure to remit a mortgage lnsurance premium to the Secretary. -
<br /> —�, ;� �� 10. Reb�stotemen� Bortower has a right to be rei�stated if Lender has required immediate payment in full becuuse
<br /> - ;,r,,,,.,:, . ,. of Borrower� feilu�+e to pay an amount due under the•Note or this Security Instrument. This right applies even aftcr
<br /> -__'�`� ',�;�,�.'� ,. �_ fo re closure proccedin gs are instituted. 7b reinstate the Security Instrument, Borrower ahall tender in a lump sum all
<br /> �,�;�."..m,:.:.�.,:;._�_..;:;.`� amounts requ�red to bnng Bortower's account current inctuding,to[he extent they ure abiigacions uf Borrowrr under lhia
<br /> _�+ ' ; �� -` Security Inswment.foreclosuce costs and reasonable ond cugtomary attomeyx`fees nnd expenses properiy+�xsocia[ed with
<br /> the foreclosure proceeding. Upan reinslntement by Borrower,lhis Security (nstniment and the obl�gations that it secures
<br />`��� � �'; ' shall remuin in effect as if Lender hud not rec�uired immediute payment in full. However,l.ender is not required to�ermit
<br /> -.�'- �,,.;w;,� "'� � reinstatement if: (i)Lender hus accepted re�nstatement after�he cammencement of foreclosure proceedings withm twa
<br /> -: , .w1�,, • � years immedistely preceding the commencement oY a current foreclosure proceeding, (ii) reins[atement will preclude
<br /> foreclosune on different grounds in the future.or(iii)reinstatement will adverscly nffect the priority of the lien created by
<br /> - � �` , this Security Instrument.
<br /> '��•�.� 11. Borrower Not Releused; Forbearance b� I.ender Not a Waiver. Extension oi the time of payment or
<br /> � ��"' ��h�;,�' �%� . modification of amortization of the sum:�secured by this Securily Instrurnent granted by Lender lo any successor in interest
<br /> �� of Borrower shnll not opemte to relesue the linbiliry of the origmul Borrower or Borrower's successor m interest. Lender
<br /> . _,,,�,,,.,, shall not be requined to commence proceedings ugainst nny successor in interest or rcfuse�a extend time for payment or v
<br /> . otherwise modify amortization of the sums xecured by this Security Insirument by reASOn of uny demund mude by the
<br /> ' � , originul Borrower or Borrowers succetisors in interest. Any forbearnnce by Lendcr in exercising uny right or remedy shall -
<br />"! �. �`� �� �' not be a waiver of or preclude Ihe exercize of uny right or remedy.
<br /> - �',� �� ...� ' 12. Successora and Asslgns Bound;Joint and 5everal Liat,ility;Co-Si�ners. The covenams,uid agreements of -
<br /> "`"��"' ' °' this Securiry Instrument shall bind und benefit the succexxon:uid ussignx of Lender und Borrower,subject ro the provisions _
<br /> _. , z;•..:, -
<br /> a of Paragraph 9.b. Barrower+covenant� :uid ugreements shall be joirn und zeverul. Any Borrower who co-signs this
<br /> ,,,; • � Security Insuument but dces not execute the Note: (a)i,co-signing�hix Securily Instrument only to mortguge,giant und =
<br /> �• cnnvey th4t Borrowert interest in the Pmperty under thc terms of this Security In�tniment;(b►is nut personally obligated to
<br /> �•• � pay the sums secured by this Security In�trument; and(c)ugnes thut Lender and uny other Borruwer may u�ree to extend. '
<br /> - �• modify,for6enr or mnke uny uccommadutions with regard�o the tcrms of thiz Security Instrument or the Note withaut thut _
<br /> , � „ Borrower's wnsent.
<br /> j � 13. Notices. Any natice to Borrower provided for in this Security Inztrumrnt,hall Ix given by delivering it or by
<br /> s � `., mailing it by�rst class mail unless upplicable law requireti uze of unothcr mr�hod. The notire +hull 6e directed ta the
<br /> �;.;- , Property Address or uny o�her addresti BoROwer designc�tex by notice to LenJer. Any nrnice ro Lender shall be given by _
<br /> � first class muil to Lender'.s nddrexs stuted henin or any addmss Lendcr dctiignates hy notice ta Borrower. Any notice
<br /> ; '�<•� Provided for in this Sccurity lnstrument tih�ll t�dcemed to huvc i�cen @ivcn tu Bortow�r or LenJer when given as provicied `
<br /> , . ��,, m this parngraph,
<br /> �'" 14. Governing Law; Severability. Thiti Srcuriiy Imtrumcnt shull Ix govrmcd hy Fcdrral law and the law ol the _
<br /> 4 �• jurisdiction in which Ihe Propeny i�lixuted. In thr e��cm that an�• pr•:vitiiun or rluusr of thiti Securny In.trumrm ur the
<br /> Notc conflicts with ap�licablc luw, �uch r�ntlirt shall no1;d'tcrt othcr pru�•i+iuns of this Srrurity In�trument ur thr Notc �
<br /> �^ ' which cun he givrn cftec�without thr conflirtm�provi,�on. 'Ti�ihi�rn�i thc provi.ion,oP this Sccuriry Instrumcnt und 1hc
<br /> �� Note nrc declared to t►e�evcrnblc.
<br /> `� _ 15. Borrowcr's(,upy. B��rrowcr+hall hc:givrn anr ronfnm�ed cor�•of thu S�ruri�y Ins�rumrnl. _
<br /> � � �,.� 16. Assl�nment of Rents. Burruµ�rr unrandiliunxlly a..ign.and uan.fen to Lender;dl Ihe rcnl.i�nd rrvenur�nf thc
<br /> � � . . Property. Borcower•ruthoriie.Lendcr ur I_rnder:agentti to cullert thr rems and mvrnue+anJ hrrchy dirrct�rarh tenant i�f =
<br /> . r the Propeny to pay thc rcntx to Lender ur I.rndcr:agrnt�. H�iwcvrr. prior tu Lrndrr'ti nutir� li, Rorr��wcr uf'Rom�wer',
<br /> y breuch of Uny covenuM or agreemcnt in thc tiecuritv In.�rwnent.B��rru«•c r.hall ri�Urrt�nJ rcc�i�•�all rent�.md rcvrnuc�uf
<br /> �` , the Pmperty ns tnistcc fc�r thr Ixnctit ol'Lendrr and l3urr<,��er. '1'hi�a..�gnmrnt ut rcnta n,u.titutc�an ahsolutc ax,ignment
<br /> and not:ut assignmcm fix•rddi�iunul�ecurity imly.
<br /> If LcnJcr givrti noticr iif hirach u�I��im,urr: la�nll rcni.rcrri�•e�l hy R��rca��cr,hull tx hrld hy fiorru«•rr ati tru,trr
<br /> " — Tor t►eneFit of Lrndcr i�nly,t�i Ik ��ppi�ra �o�nc sum�+crurrd hy thr>rru�uy In.trmnent; �n► i.cndrr ,na11 ne rnutlyd t�i
<br /> . ,� . rullec�anJ rccci�•c uU��f ihc nntti uf thc f'ro�xny:anJ l�1 carh irnant��f ihr f'ro�xny,hall pay ull rcntx Jur and unpaid ta
<br /> , Lrndcr or Lcndcr:agcnt un I.cndcr:�vrirntcn drmand io t hc�rnnnt.
<br /> Barcower ha� not rxecuted uny prior a.,ignmrm uf�hr mnt� aod h:i. no� and ��ill nin ��ert��,rnt any art tha� wuuld
<br /> R prevent LenJer from ex�rci+inp it�right.widrr thi�Para�,raph Ih.
<br /> Lcndcr+hall not tx rcyuircJ lu rntcr u�xm. takr r�,ntr�►I of ur mainl•rin Ihr Pruprny Ixiin�ur altrr�ivin� nulirr ul
<br /> , brcuch to Burrower. f lowcv��. Lrndcr ur a judic�ally:tppnintrd rrrcivrr may Ju,u :u an�• time Ihcrc i.a hrcarh. An��
<br /> . applica�iun of rcut�.hull nut curc ur��ai�r an�drl:wli ur im:�lidal�am ulhrr ii�hl ur reo►rJ� ul Lendrr. Thi,:�++i�mnrul
<br /> . „ of rents of the Hrpeny shall tenninatr��•hcn thr dcht ururcJ hy ihr Srrurtly Imtrumcnt i�p:ud m full.
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