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<br /> _ _ ,,�_ _��,_,_`r._ ___�� ppymenle.which are rokmed ta i�Paragrnph 2.or chonge the amount of such paym�nts. Any cxcess proceeds ovor an
<br /> amauntrcq uirod to pay arl outstandin�iMiebtedness umier d�o Wwe wnJ�iu.Sa:uifty instrun�ni Rhall bc p�ld ta thc entity -
<br /> le��lly entitled ihereto. _
<br /> �h ' 8. Rees. Lender mey collect fees und cluuges aulhodud by the Serrtwry.
<br /> 9. (iround�tor Accekntion nt Debt.
<br /> (a)Defpulb Lender may.except as limited by regulutions isaued by the Secretury in�he cw�e af paymem defoults, �
<br /> = ,. �equire immediwte payment in full of�II aums cecurcd by�hiR Securi�y ins�rument ii:
<br /> ' (i)Borrowtr defaulta by feiling to pay in Pull any monthly puyment rcquired by�his Securfty Irwniment prior
<br /> "' to or on the due dete of�he ncxt monthly payment,or
<br /> (ii)Borrower default�by failing,fur u perlad of thirty dnys.to pert'orm any other obligationa caxainul in thie
<br /> �.�y��.�, — Secu�iry lnsuument.
<br /> —_-�,����.�.�ti�� (b)Snle VYithout Credit Approval. Lender shall.if permitted by applicuble law wid with tha prlor upproval of the
<br /> ��,�,�� Secretary.rcquir�e immediote payment in full of all the suma secured by thia Secu�ity Instniment if:
<br /> (i)All or part of the Property.or a beneGcial interest in a trusc owning all or part of the Proprny.ia sold or
<br />�'�: il'�;%���.� otherwise transfemed(other than by devise or descent)by the Bortower.and _
<br /> ;.�#:��!► (ii)The Property is not occupied by the purchaser or grantee as his or her principul residence,or ihe purchaser
<br /> ���,�•�;;;,., •_ ar gmpta does so accupy the Property but his or her credit has not be�:n approved in accordnnce
<br /> s--;,---;,.-- with the re�uircments of the Secretary.
<br /> ����'� (c)Na Waiver. If ci�cumstenccs occur that would permit Lcnder to require immediate payment in full. but Lender
<br /> ���v.:. das not require suchpayments,Lcnder dces nat waive its dghts with respect ta subsequent events.
<br /> '��. __3�. . (d)Re�ulAdwia ot HUD Secrefary. In many circumstances regulations issued by the Secretary will limit Lender�s —
<br /> , � ; rights. in the cese of payment defauits, torequire immediate payment in fuli and foreclose �f nut paiJ. This =
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<br /> s,�,.... <,�+� . Securiry Insnument does not authar�ze scceleration or foreclosure if not permitted by regulations of the Secretary. —
<br /> ��` ' �.� • � (e)MortgAge Not Ineured. Borrower agrces that should this Securiry Instrument and the nWe securcd thereby not
<br /> ; , • •� ;,, � ,��. be eligfble for insurance under the National Housing Act within 8 iponth8 from the �
<br /> •' '" ' '� • •K� date hereof,l.ender niay,at its option and notwithstanding anything in 1'nragraph 9,require immediate payment in
<br /> • . �� • �'. full of all sums secured by this Security Insttument. A written stetement of nny authoriud agent of the Secretary _
<br /> .. • '���,�•' dated subsequent to 8 qlont� from the datc her�eof,dedining to insure this Security _
<br /> ;. ,; , ;, Inslrument and the note secured thereby,shall be decmed conclusive praof of such ineligibility. Notwithatanding
<br /> o • • � ' the foregoing.ihis option may not be exerclsed by l.ender when the unavailabflity of inaurance is salely due to
<br />� , , ' I,�� i�,''`."'� Lenderk failure to remit a mortgage insurance premium to the Secretary.
<br /> � '' 'r �� 10. Reinstatemen� Borrower has a dght to be reinstated if I..ender has required immediatc payment in full because _
<br />���•._w,,. 3w���.��s�.� of Borrower� failunc to pay an amount due under the•Note or Ihis Security Instrument. This right applies even after
<br /> �:'.f�.'"�'~�":•�z. fomclosure proccedings are Instituted. 7b reinstate the Secu�ity Instrument, Borrower shall tender in a lump sum all
<br /> �• " amounts required to bring Borrower's account curtent includi�g, to the extent they are obligations of Borrower under this
<br /> . •, �a �: � ��° Secudty Instniment, foreclosure cosGc und reasonable and customary unomeys'fees and expemes properly assaciated with
<br /> � . ' '�' ., the foreclosure proceeding. Upon reinstatement by Borrower,this Security Instrumenr and the obligatians thut i�secures `
<br /> '' ehall rcmain in effect as if Lender had not reyuired immediate payment in full. However,l.ende�is not required to Qermi[
<br /> reinstatement iF. (i) Lender hati accepted remstatement after the commencement of foreclasure proceedings withm two
<br /> �: years lmmedia�ely preceding the commencement of u current foreclosure proceeding, (ii) reinstutement will preclude
<br /> � , w .. foreclosure on different grounds in the future,or(iii)reinstutement will adversely affect the priority of the lien created by —
<br /> ` - � thia Security Inswment.
<br /> �•� 11. Borrower Not Released; Forbearance b� Lender Not a Waiver. �xtension of the time of payment or _
<br /> � • • � modification of amoRiwtion of the aums secured by thi!�Security Instrument grnnted by Lender to uny successor in interest
<br /> �� a .�..' . of Borrower shall not operate to nelease the linbiliry of the originul Borrower or Borrowert successor m interest. Lender =
<br /> �� � �- • -• shall not be re4uired to commence proceedings agam,t anX succersor in intercst or refuse to extend time for pnyment or _
<br /> � �' ''"""'' ,�: ^' � otherwise modify amortizution of thc sums secured by this Securiry Instrumen� by reuxon of uny demand mnde by the
<br /> �. originel Borrower or Borrower's successors in interes�. Any fort►enrance by l.ender in exerciging uny right or remedy shall
<br /> � , . _ � not be u waiver of'or preclude the exerci,e of uny right ur remedy. _
<br /> ��°':�• • � ��r" :� 12. Successot�and Ax.gigns Bound;Joint and Several l.iobflity; CaSigners. The covenants and agreements of =
<br /> �f �"� - this Security Instrument shWl bind und benefit the succexsorti und ussigns of I..ender and Borrower,subject to the provisions
<br /> ! �� �''" of Paragroph 9.b. Borrower� covenants nnd ugreement.r• shull be joint nnd several. Any Bonower who co-sig�s this
<br /> • ' � '� ' Security Instrument but dces not execute the Note: (u)i+co-�igning this Securiry Instrument only to mortgage,gmnt and
<br /> ' ' �' � convey thut Borrowert interesl in the Propc�ny under thc tcrms of this Sccurity Ins�rument;(b)i�not personnlly oblignted to _
<br /> ;� .. � pay ihe sums secured by this Seruri�y Instrument;und(c)agrees thm Lender and uny olher Borrower rnuy ugree to ex�end,
<br /> • � ::..o , modify,forbear or make uny accammodutions with regurd to the tertns of this Security Instrument ar the Note wilhoul that
<br /> :+�'•'�'"" • � • � , Borrower's consent. —
<br /> ' " •-. • 13. Nottces. Any noticc to Borrower provided for in thix Sccurity Instrument rhull tx;given by delivering it or by
<br /> � �.-,e.i� . mailing it by first class m:�il unletiz applicuble luw rcyuirex usc nf unother methai. The notice shull he directed �o the
<br /> „ .,,,:�.. Property Addrc�s or uny other nddresti eorrower detiignutes by notice lo l.cndre Any notice to Lender shall be given by -
<br /> _ " � first class mail W Lender's addresx swted hcrrin ur uny uddrc�s l.rndcr dr+ignalr� by notire to Burrower. Any notice t
<br /> � - Provided for in this Security Instrumrnt.hull be dccmcd t��huvr lxcn Fiv�n to Bormwer ur Lcnder whrn given�s provided `
<br /> m this purugruph. -
<br /> �� , ° l4. Governing Law: Severability. Thi.Srrurity In�trumcnt ,hall Ix�govrmcd by FYJrrul luw unJ ihc luw uf Ihc _
<br /> � ,• , jurisdiction in which the Propeny i, bxuted. In thr event Ihul an�� prnvi�ion or clau.r uf�his Scrurity In.lrument or the _
<br /> , Note conflicts with nppliruble luw.such rimllict�hall not aflcrt uthcr provisiom ot'Ihi� Scrurity In.tn�mem ur the Note t
<br /> ,; , which can be given effec:t without Ihr contlicting provi,ion. 'I'ii thi,e�xi Ihr pravi�ians af this Serurity In�trument und the =
<br /> ` Note are Jcclurcd to be,evcraM�. -
<br /> " • 15. Borrowcr's Cop,v. Rurrowcr.hull Ix givrn onr ronti�micd�upy of thi�S�rurily In�ln�mcnt. °
<br /> 16- Assignmenl oF Rentx. Horroarr unc�m�lili�HU�lly:�..igm and t:amftn k�Lcnd�r ull thc rcntx und rcvenur�of the i
<br /> . `= , '�' Property. Bnrcower authoriieti LrnJrr ar L�ndrr:ugcnl.t��rullrri ihr rcnt.anJ rcvrnur,and hemhy dimrt�each tcnam uf �
<br /> , the Property to puy thc rent,�o Lrndrr i�r LcnJcr'.agrnt�. Huw•cvrr,priur lu Lrndcr'+ noticc �o Borm�vcr uf Borcowrr;
<br /> •� breach of uny r�wenvnt or u�,nrtncnt in Ihe Srruril}•In+trumenl,fiurmarr,hall rnllrct and recrive all rrnt�.mJ revrnur�i�f
<br /> ' • I.
<br /> _:. �l _.__��. _- ._ ' the Pronenv as trurtec for Ihe Ixnclit��I'L�nJrr anJ Hurcuwcr. Thi+u,��f�nmcnt uf rrnts runstitwcti�m ah.olule u.�i�!nmrnt _
<br /> . mtd not�n utisi�nment ti►r uJdiliun.�l.rruriry only. �'
<br /> _ . .�. . If Lender�ives nutice uf hr�uch lu Rurn►wrr. lal all rents rrrri�•rd by N��rr����cr.hall Ik hrlJ hy Hurn�a�cr a�Iru+tce
<br /> for lxnclit�if Lrndrr unly. 1��Ix ur�t��a <<,�n�wm..rrurcd hy thr Srrurit�• Intilrumrnl:Ib1 LrnJrr�h:ill hc cntidrd ta
<br /> " _ � • collcct und ttceive ull��t'Ihr rcnt�of thr 1'r�,�xn}•:anJ lc 1 each Icn:uu nl'ihc I'n,�km ,hall pap all renl�duc anJ unpuiJ tu
<br /> ,. � Lcndcr or Lendcr's aFrm un Lrndrr�writtrn drmand tn thr trn:uil.
<br /> •� •• Borrowrr hu�nol c�ecWrd uny priur a��iEmnrnt �,t'Ihr rcnl. :uid ha. iH�t :ind w•ill n��t �xrtunn nm� �irt Ihat u��iuld �
<br /> —° -'i-`--—_-- -- prcveui[.eudei i��uw v.�ci�i�iu�;i��ii�id�uuJc� fl�i,i'.ua��a��li ii�.
<br /> Lendcr.hull not Ix rc.{uir�d tu rmrr u�um.�uhr r�mtrul uf ur manUain Ihr F'ru�krt� Ixfiur ur ut7rr�:icin�:n�,Grr al F
<br /> , bnuch tu Burn►wcr. Huwrver. l_�ndcr ur u.judiciully up�winlcd rerri�rr m;q du w u� an}� limr Ihrrc i� a hrrarh. Am �
<br /> ., " upplic�tiun of rcnt..hull n�n rurc ar wui��r any Jrl�uli ur m�:did:uc smy othrr ri�:ht ur rrmrJ� ��I�l.rnJrr. "17u. :i..i�.nmrii� ,
<br /> of rents of'thc Pm�xny�hull terniinutr uhin thr drbt xrurcd hy Ihr tirrurity In.trumrnt i�p:ud iu lull. �
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