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<br /> paymenta.which�+a refamed to in Paragrnph 2,or chenge the amount af euch paymente. Any excesa proceedr over an
<br /> '�,;: ` unount�q�uirod to pay all outstandinQ indebteMese uoder tho Note ond�hl�Security Insuumont ahall bo paid to�ho entity
<br /> . le��lly entitled theraw.
<br /> B. �eea L.ender may collect fees and chargos authoriud by the Secrcwry.
<br /> 9. Grounde for AccelerAtlon ot 13eb�
<br /> {x)De�aulw Lender may,except as hmited by regulations issued by the Secretary in the cace of ps�yment defaults,
<br /> __ _ nquire immediate psyment in fu7i of ell sums aecurcd by thie Securiry Insln�ment iF: ,._ _
<br /> .'� (i)Bomower defaulta!+y failing to pry in fult any monthly payment required by this Security Inatrument prior
<br /> to or on thc due date of the next monthly payment,or
<br /> ���,�,,�� (ii)Borrower defaultc by fwiling.for a perlod of thirty days,to perform nny other obligations contained in thla
<br /> .��r,��aa.�. 3ecurlty Insmiment.
<br /> (b)3wle Without Credit Approval. Lender shall,if permitted by applicuble law and with the prior appmval of the
<br /> _ `;� ° " Secretary,require immediate payment in full of all the aums secured by this Secudty instrument if:
<br /> _.____ w (i) All or part of�he Property,ar a beneticial interest in a uust owning ull or part af the Property,is sold or _
<br /> �._..�.,;:;, otherwise tranaferred(other than by devise or descent)by the Horrower.and
<br /> .. .x (ii)71�e Property ia not accupied by the purchaser or grantee as his or her princlpal residence. or the purchaser
<br /> �•• �. _;„� or grantee does so occupy the Property but his or her credit has not been approved in accordance
<br /> _ :_.,.
<br /> � �N;u,�y.�:� with the requirementa of Ihe Secretary.
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<br /> (c)No Waiver. If circumstanccs accur that would permit I.ender to require immediate puyment in full.but Lcnder
<br /> � ,n.;,, ,��,• doea not r�rquire auch payments,l.ender daes nat waive ita rlghts with respect to subsequent events.
<br /> �? 4 �,..,�:.. _
<br /> °� Y , (d)Re�uladoae ot HUD Secrets�ry. ln many circumsta�rces regulations issued by the Secretary will limit Lender s -
<br /> '�ls'-�''�:1�'•i���,, � dghis, i�1 the case of payment defaulis, tot�quire immediate payment in full and foreclose if not paid. This --
<br /> -- -�, � -�- :�,::.. , _
<br /> __- F � '�':" Secudty Instrument dcea nat authorize accelcration or foreclosure if not permined by rcgulAtions of the Secretery.
<br /> - _. �".�, ;..: .,, r . ,,�.;
<br /> - �! • � • (e)Mortgage Not Insured. Borrowe�agnees that should this Security Insuument and the note securcd thereby not
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<br /> �3~�`" °•.''�'°'"� be eli ible for insurance under the Natfonal Housin Act within from the
<br /> :;;..:Y,• . B � e m�ntha -
<br /> - �-=-+ . � date hereof.Lender may,at i�s option and notwithstanding enything in Paragraph 9,require immediate payment in
<br /> _- ;,.;,."�:�� �.*�. full of all sums secured by this Security Instnrment. A wrfnen s�atement of uny uuthorixeJ agent of the Secretury
<br /> 'T-: ;� ;-• deted subsequent to 8 mo[lths from the datc hcreof,declining to inaure�his Secu�ity
<br /> lnawment and tho note secured thereby,shall be deemed conclusive prcw►f af such ineligibflity. Notwi�hxtonding
<br /> � �� ' ' '^ h"�`�'"'"• �he foregoing,thie option muy not bc exercised by Lendcr whcn Ihc unuvuilubllfty af inKUrunce ix a��lcly due�o
<br /> """ ''"'�'����'�'t��;�� Lenderk fuilure to remit o mcxtgage inxurnnce premium to thc Sccrclury.
<br /> `'s ��:;.���•� ►eW 10. Relnctatement. Borrnwer haw a r�ght to be rcins�ated if Lender hus reyuired immcdiutc puyment fn 1'ull hecuu�sc
<br /> "''�'':rk ' � ' of Borrower� failu�to pny un umount due under the•Note �ir this Security Intitnimcnt. This right upplle� even ufter
<br /> � --_ �'•--= fQSe:losure prnceedings are instltused. 'Ih �in�tntP �1►e ccc��ri�y Inutn�r►►cm, R�x►nw�r+chull �e�ulcr in a lump Kum ull
<br />_- "''� ., � amounta reyuired to bnng Borrower�account currem including,lo the exlcnt they urc abligulions of Borrower under thi�;
<br />- , , 5ecurity Insuument,foreclosure cost�and reusonnble und customury uttomey�'fecz und expemes properly uKwcluted w{th
<br /> _ the foreclosure proceeding. Upon reinstt►tement by Borrower,�his Security Inxtrument und the obligutions�hnt it secures
<br />- shall remain in effect as if Lender had not required immediute pnyment in full. Hnwever,Lendcr is nnt r�equired�o permit ---
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<br />- .'`�.. � • . � ►einswtemen� if: (i)Lender has uccepted reinxtutement nfte�the commencement of foreclosure proceedings withm two
<br />_•'� " ' • � years immediately preceding the commencement of u current foreclasum proceeding, (ii) reintitatement will preclude
<br /> _?•r� "�t • d �"�� foreclosure on different groundc in the future,or(iii)reinstatement will adversely nffect the priority of the lien c�ated by _
<br /> ��" ::._�e�.: �hie Secudty Inswment. __
<br /> �.••�•� - ?�;:; l l. Borrower Not Released; Forbearance b� l.ender Not a Waiver. Extension of thc time of payment or
<br /> i,�. ��., , modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in mterest --
<br /> �,,�� -Y�}- ; = - ���� of Bornower shall not operate to releau the liubility of the origmul Bc�rcower or Borrower4 successor in interest. Lender --
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<br />`�� � . shall nat be required to commence proc:eedings uguinst siny ,uccessor in interert or refuse to extend time for puyment or --_�_
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<br /> � :` ' otherwise modify amortization of the sums sewred by this Securiry Instrumem by reuson of any demand made by the -
<br /> ; .w,` . original Borrower or Bortower's successors in interest. Any forbeuronce by Lender in exercising uny right or remedy shull �
<br /> �e�. .. • :.. • not be u waiver of or preclude the exercise of any right or remedy. �- -
<br /> ,... 12. Successors and Assigns Bound;Jdnt and Several Liability; Co•Signers. The covenunts und ngreements of e--
<br /> . ° ,'.�' �.: this Security Instrument shall bind and bene�t the successors and ussigns of Lender und Borrower,subject to the provisions --
<br /> ' ' of 1'aragraph 9.b. Borrowcr's covenants und ugrecments hhull be jaint und sevcral. Any Borrower who co•signs this ��'_
<br /> � Security Inswment but dces not execute the Note: (a)is co-signing this Securiry Instrument only to mortgage,grant und "''
<br /> '�:'. n,p
<br /> convey thut Borrowerk interest in the Property under the tertns of this Scrurity In�tniment;lb)is not penonully obligmed to
<br /> '� � pay lhe sums secured by this 5ecurity Instrumenk und(c)ugrees that Lender und uny other 8nrrower muy agree to extend.
<br /> madify,forbear or make any nccommodations with regnrd to the temis of this Seciirity Intitrument or tlx:Note wilhout thut
<br /> �",;• � ?�� �`,� Borrower's•consent. --
<br /> W 13. Notices. Any noticc lo Bortower provideJ for in ►his Sccurily Instrumrnt tihall Lx given by delivering it ur by
<br /> � ^'`"'° muiling it by first cluss ms�il unless applicuble luw reyuirex use uf anothrr methixl. 'i'Im nutice .rhull be directed to the
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<br /> i�v�w. Properly Addrexs or any other addresx Borrowcr designutes by notice w Lende�. Any no�icr k�Lrnder shull be given by
<br /> first class muil lo Lender's uddretis siuted herein ur uny ,iddress Lender designutr. by notice to Born►wer. Any notice
<br />• � •� -- �rovided for in this Sccurity Instrumcnt.hull be de.�emcd to huvc tkrn�ivrn to B��rcuwcr��r LenJcr when given as provided -
<br /> '' in this parAgruph.
<br /> j'-� . 14. (:overnfng Luw:SeverabHity. Thi+Sccuriry Instn�menl shull Ix guverncd hy Fedcral luw and�hc luw of the
<br /> )urisdiction in which the Properiy is Icx:atcd. In thc evcnt Ihat:my pruvi.i�m or rlau+c of thi.Securily Intitrument or the
<br /> • . Note contlicls with upQlicublc law, wch cunFlict ,hall nnt uffrct ��Ihrr pruvi�iun+ oi'ihi,Sccurity In,trumrm ur Ihr Notr
<br /> - . _ " which cun be given eftect with��ut the ronllicting pnivision. Tii thi+rnd Ihr provi,iun.of thiti Srrurity In�trument und the }..•
<br /> •� Note ure declared to t►e�everablr.
<br /> _ • � I5. Borrower's Copy. Hurrs���•er�hall ix given onc cimtimncd ca,py uf thi,tiecurity In.�nimrnt. �
<br /> ��a , 16. As.vi�nment nf Rentz. Bunowrr uncunditiunally:i.,i�;n.:m.i tran.l'rr.w Lrndrr all thr rcnt.and revrnur�nf the
<br /> Property. Borrowcr authi�riir,Lrnder�,r I.cnJer:agrm.lu r��lleri�hr n n�,:md n venur.and hrrrh��Jirect.�uch tcnun�ot� t
<br /> � � , - Ihr Property lu puy Ihr rent, �o LrnJcr ur l.rndrr',;���rm.. Ilowrvcr. priur w I.rndrr'�nutire w H��rn,wrr�►1 Hnn•��wcr'+ �
<br /> ,
<br /> brcuch uf uny covrnnnt or u�rcrmcnt in the Sccurity In.trumrni.Hurruwrr,haU cullrrt und nrri�r��II r�nt+und revcnur+ut'
<br /> � . the 1'roperty a�tru�tee 1'�ir thc ix�nctit uf Lendrr:ind B�nTU��•cr. �I'hi,a..ipnmrnt ut r�n�.ran.uiutr.an:►h��ilu�r as�igmnent f .
<br /> '___ _-_
<br /> '.-Q�=-+-+�'�• .�� und m�t un u��ionm�•nt fixaddili�xuJ�rruritv�mlv L
<br />-- -- _--------- - ._._..--'---- -c-....,.... . ._ ..._. _ .. .. . �
<br /> -.-- — If Lendcr givc�noticc uf brci�ch io Hnrrowcr: lal:�II rcnt+rcrci�rd h�•linrm�<<•r.h�dl tx hrld hy H�►rro��•rr nti tru.tcr k
<br /> - � , for benefit nf LcnJcr unly.to Ix applicJ�o the ,um.ururrd hy �hc tirruril� In�lnnnenr Ihl L�ndcr�hall t+��entidrJ �o ,
<br /> . collect ond mceivr all of thc renl�uf�hr Pro{xrty:and Irl r:ich Icnanl �H the Ifin�xrrlt�hall p;�c all rcnls dur and unpaid In �
<br /> Lendcr or Lcndcr's ugcnt un LcnJcr�wriucn Jcnumd iu thr tcnant.
<br /> , Barcower has rwt executed uny priur a�.iEnmrnl i,f ihr rcm.anJ hati nnt ;inJ will n��i �xrti,nn :my:ict that w�iuld ,
<br /> • t prcvcnt Lcnder fmm cxcrcising ii� righlc undcr thi�P,iragraph Ih. i
<br /> Lrnd�r shull m�t Ix rcyuireJ ai cntrr upnn, tahr r��nlral ��f ur maintain �hr!'��aprrty Ikfurr ur :dtrr �n•ing nu�icr ul' I
<br /> . " brcuch lo Borrowcn Hox•ever.Lender or a judicially ap�x�intrd mrrivrr m:q• da ,a:u �my timr Ihrrc i. a hrc;Kh. Am
<br /> ,, uPplication of rcnts�hall nut rurc ur waivc uny dcfault ur im•ulida�c any ulhcr ritiht ar rrmrJ��ul l.rndci. fhi. a"i�:nm��i� '
<br /> " of rents of the F'ruprrty shall terniinatc when thc dcbt+crurcd hy Ihc Scrunl�•In.trumrnl i.puid in lull. .
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