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<br /> -? �:,��� . -- - -- ------ - -- -- ...._ .,.-°
<br /> .. �_ � 92— ios482 �
<br /> - paymentc.which aue rofernd to in Pjuegraph 2,or chenge�he amount of such payments. Any eacess proceedx over an
<br /> -_ - - �trequf�ed w pry dl ouu�tandin�indebtcdnasr w�der tho Note and 1hi�Security hwttutnent�IWI be paW to IMe aWty .
<br /> entlqed�he�eto.
<br /> -=--- - -= ---- � Fwa. i.c�elc�ou�y�uila.i f�za�,�3 cha���,s auflsoizcd by ihc�ectetacyr. �-
<br /> �d� g. aro�nds fa�Accekmtion ot Debb
<br /> _.' -- . l�)Defiul� Lender may.except as limited by ngulotions issued by tho Saretary in the caca of pAyment de6ult�.
<br /> ;;; ro q u i r e i m m e d i e t e Fa y m e n t i n full of nll sums aecured b y this Secud ty lnstnunent if:
<br /> ----- -� (f)Borrower d efault�by fafling tu pay in full any moa�hlY puYment rcsqulred by this Security lnsuvment pdor
<br /> -j`° to or on the due date of tha neat monthly payment,or �
<br /> (ii)Bormwer dcfi�ul�by f�iUn�,for w period of�hirty days,to perform any other obli��tions contained in ihis
<br /> ,_ _ .- Sauriry Inswmen�
<br /> (b)3We VYlthout Credlt ApprovAl. Lender shall.if permilted by applicsbte law end with the prior approval of the
<br /> �„�;,,,,,�,� Secr�etary.roquim immodiate payment in full of all the suma secured by this Security lnstrument if:
<br /> ,_._�;� M (i)All or pa�t of the Prape�ty.or a beneficfsl lnterest in a nust owning all or par�of the Property.is sold or
<br /> s-= � "_-��„�� otherwise transfemed(other than by devLse or desceny by the Borrower.and
<br /> ---�-_� (ii)The Property is not occupied by�i►e purchaser or grnntee as his or her principal residence,or the purchaser
<br /> _ _-;:���� or grnntee does so accupy the Property but his or her crc,�lit has not been �pproved in accotdwice
<br /> -- - with the requirements of the Sec�etary.
<br /> :i� _ (c)No Walver. If ci�umstances occur�hat would permit Lender to require immediata payment in full,bu!i.ender
<br /> --- —����� does not rcquine such payments,Lender does not waive its dghts with respect w subsequent events.
<br /> ___��.�� (d)R�ulatiaw o�HUD 3eerefn�t In many circumetances regulallons issued by the Secretery wUl limlt L.ender's
<br /> - _ rlghts. in the case of payment defaults, torequire immediate payment in full end foreclose if not�p�d. Thi�
<br /> -- •--�� - -�-- - Sxwity Inatrument does not authoriu acceleration or foreclosu�e if not peimitted by regulations of Ihe�Cretary. _._
<br /> •=i�t;,aa�'� '��r�,,,�'� ie)Mortgage Not lnsured. Borrower ag�ces that should this Security Instrument and 1hc note eecured thereby not
<br /> _ � be eligible for insu�ancc undcr thc National Housing Act within 8 rtlonlhs from the
<br /> -"'�'�"`�`" date hereof,Lender may,at its optian and notwl�hstanding anylhing ln Paragraph 9.require immediate payment in
<br /> `-����'�� full of all sums socured b this Securl Inswment. A wdtten statement of an Authoriud a ent of ihe Secre
<br /> ��r^;:•�r-
<br /> -`'� �'"'`` ' � dated subs uent to 8 molithe ty Y B
<br /> _:�-.,,Y,.,-- - : eq from ihe date h�reof,declining to insure this Securrty
<br /> �hs.,�;�,,�a -�:_. ,.
<br /> inswment and the note secuad thereby,shall la dcemed conclusive proof of such ineligibility. Notwithstonding
<br /> - t ,,r�,��;.,�;,ti the foregoing,this option may not be exercised by Lender when tho unavailabilily of insurance is solely due w
<br /> �_�'�.�,::.�:•:ti,,;r.•-,„,r.��; Lenderls failur�e to�+emit a mongage insurence premium to the Secretary.
<br /> ��-..-- - ,. .
<br /> — .��v.r<-,, •� ,. :� . 10. ReinatAtement. Borrower has a right to 6e reinstated if Lender has required immcdiatc payment u
<br /> rt���^ �''��''� " of Borrower's failure to pay an amount due under the•Note or thie Security [nstrument. 'll�s right applies even after
<br /> "'�. � fo�eclosure proceedings are instituted. 7b rcinstate �hc Security [nstrument, Borcower shall tender la A lump sum Wl
<br /> — ,�;q�- amounis t�cywrai iu bring 8urruwCr�nccuuni wutui iirc{udiug.tu d�ext�at u'�y are obiigetians of Burrower mtider thls
<br /> - -` r Securiry Insnument,foreclosure costs and rea.coneble and customary attomeys'fees and expenseapro pedy associated wlth
<br /> �T,� � �` . � the forcclosure proceeding. Upon reinstetement by Borrower,this Security Instrument and ihe obligatlons that it eecw+es
<br /> :,;.�,F, � ;:., ,`': sball remain in effect es if Lender had not required immediute payment in full. Hawever,�..ender is not rcquired to pem�it .
<br /> �'�•='. , ° � � neinstatement if: (i) Lender has accepted reinstatement after the commencemeM of foRCloaune proceodinQa wfthin two
<br /> r. �`�'�''�r �'+ ' years immediately preceding the commencement of a current foreclosure proce�ing, (ii) rcinstatement will procludo
<br /> .� �:�.�+3.:m.:.,..�•�:• foreclosure on different grounds in the fuwre,or(iii)reinstatement will adversely affect the prioriry of the lien cteated by �
<br /> -` '�"' thisSecuri Instrumcnt.
<br /> -:� " •,:;v, �. •r 11. �orrower Not Released; Forbearunce by Lender Not a WAlver. Extension of the dmc of payment or
<br /> moditication of amortization of the sums secured by thi.g Security In4tnrment granted by l,ender to eny successor in interest
<br /> - of Borrower shall not opernte to release the liability of the original Hortower or Borrower's successor in intercs� L.e�
<br /> .... .... ,
<br /> �; .,��;.�'� ' ":"`�` sholl not be required to commence proceedings against uny successor in imerest or rcfuse to extend time for paymrnt or
<br /> ��� rtA�t"" " ,'',;�: otherwise modify amortizadon of the sums secured by this Securiry Instrument by reason of eny demw�d made by tLe
<br />-_��.�� . � origin�l Borrower or 8orrower�s successors in intenest. Any forbearance by Lender in exercising any ri�ht or rcmedy alwll
<br /> ��' �` '`� not be a wniver of or preclude the exercise of any right or remedy.
<br /> r►'� ' *. ^ 12. Successors and Assigns Bound;Joint and Several Llobility:Co-Signers. The covenants and agroements of
<br /> _x�� ��^��" � '" this Security Instrument sholl bind nnd benefit Ihe successor�and ussigns of L.ender und Botrower.subject w the pmvlaions
<br />- ;;;��;,•..; � V."� : of Puragruph 9.b. Borrowerk covenants and agreementK shull be joint and xeveral. Any Borrower who casigns ihie
<br /> Security Instrument but does not exccule the Note: (u)is co-signing this Security Inslrument only w mortgage.gtant end
<br /> � ._ '�"'' '' � � • convey that Horrawer�interest in the Propeny under the terms of this Sewrity Instrument:(b)is not personally obliguted to
<br /> � ��.:; puy the sums secured by this Security Instrument;und(c)ugrecs that Lender und sm�other Bortnwer may agrce to extend.
<br />��y, ,M o � ' modify,forbear or make uny uccommodations with regnrd to the tcrms uf this Secunty Instrument or the Note without that
<br /> � �^"�'�` •^ �^ Borrower's wnsent.
<br />-• " � 13. Notices. Any notice to Borrower provided for in Ihis Sccurity Inxtrument shall bc�iven by delivering it or by
<br /> ��� mniling it by first clasg mail unless applicuble law reyuires use of unother method. The nouce shall be directed to the
<br /> ' F'roperty Add�+exc or uny other address Borrower designates by natice�o Lendcr. Any notice to Lender shall be given by
<br /> ;� ,;�,°'"��'.`p'"" first class muil to Lender's nddrcs. stuted herein or uny uJdress Lrndrr dexignutes My noticc to Borrower. Any notice
<br /> `� ' pmvided for in thiti Security Instrumcnt shull be dcemed to huvc hccn givcn to ljomiwcr�x l.ender�vhcn givr.n ag pmvided
<br /> ' • ' in this pnragraph. --
<br /> , ` •'��' " 14. Governing Law;Severability. Thi.Sccurity Instrumrnt shull lx govemed by Federul luw und thc luw of the
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