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<br /> == payments,which ane rofened to in Puagtaph 2.or changc the amount of auch puyments. My excess pro�xeds over an
<br /> - � ��r�i� �nnuntreyuiaxl w pry uIl uuta�uiing BnlrWub��r undcr the Notc and thls Secwity lnstrument shnU be pald W the ertity �
<br /> �
<br /> k�ally entlded therew.
<br /> � S. Feta Lender may collect fees and char�es Authorixed by the Secrstary.
<br /> �' �I 9. Gtnai�ds�or Acoekrndon of Deb�
<br /> (a)De�AUI� Lender may,except as limited by rogulations Issued by the Secretary ln Ihe case of payment defoulte,
<br /> �, �oquiro immediate paymeM in full of all sums securcd by thia Security Inauument if:
<br /> (i)Aomower dcfaulu by fsiling to pay in full any monthly payment requiRd by this Security In�ument prior
<br /> ^ to or on the duc dato of the�ext monthly payment,or
<br /> -._y (ii�Borrowgr dafauN�by fajling.for u periad of�hi�ty doys.to perfortn any other obligations contwined in this
<br /> `— - — Sec'��rity Ia�SM�mnnt.
<br /> _�;�Y����µ. : (�3afe With��u t Credit Appraval. Lender shell,if permitted by applicable law and with thc prlor approvW aP tha
<br /> taryreqi�irc Immedlate puymeot in full of all�he aums r�ecured by thie Security Inxtrument if:
<br /> -""'� °���.�' (i) All of pa�t of tho Property,ar a 6ene�cia1 intereat in a truAt owning all vr pan of the Property,ir xald ur
<br /> otherwfse tranaferred(othsr Ihan hy devi�c ar desccnq by the Barmwer,nnd
<br /> °--������ (ii)The Property Is not accupird by ihe purcha�r ar Qmntee ax hfa ur her priocipai realdcn�:c.or�he purcha�r
<br /> � .�.. ° � or grantcc dacs sa i�ccup�� tho Prupcny but hir on c�r crcdit hax nut becn wpprovcd in urcordanco
<br /> � ' � ' ' with the requircmenU of ihc Sccretory.
<br /> — :�r•�-�' � �` (e)No Walver. If cireumstance���ccur Ihat wuuld permit Lciuler to rcquire immediute payment in full, but Lender
<br /> ���s�''4'"" � does not rcquiro euchpayments.l.endcr doc++n�t wuive ftx�ightK with rcspect to aubsscyuent events.
<br /> -�:4 -. (d)Re�ul�NonR ot HUD Seercwry. in many circumxlunces regulalionx icsued by tho Secretiuy will limit l.ender�
<br />_ ' �� ,;,,:°. '- dghta, in tho cuse of puymcnt defAUUK, tu require immedi�te pnyment in full and fareclose if not �a id. Thir -
<br /> •Y s � � -" Sec:u�lty inatrument does not uuthorize accclerutian ar forcclo.4ure if na pertnil�ed by regulaticxia of Ihe 5ecretary.
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<br /> 0 0;- (e)Mortgnge Not IRSUred. Borrower agrees�hot shauld this Security Insdvment wid the note secured thereby not
<br /> ' ; be eligible for insurance undcr the Nationul Housing Act wilhin 8 mont Its from the
<br /> M ' �"""'"�""'`'' dnte hereof.Lender may,at iu�aption und notwlthatunding unything in Poragraph 9,rcyuire immediate payment in
<br /> - d,�.,:;,. full of all sums secured by thls Secu�iry lnstrument. A wrinen atutement of uny authorized ugent of ihe Secretnry
<br /> ' ° ,, dated subsequent to B rAOnths from the dn�e hereof,declining to inaure this Secu�ity
<br /> '. • Instrument and the note secured thereby,shall be deemed conclusive praof of such ineligibility. Notwilhstpnding -
<br /> _ .:. .; , the for�egoing. this optian rnay not be exeroised by Lender when the unwvailability of insutance ix salely due to
<br />� � �:r• l.ender's failu�+e to temit a mortgAge insurance premium to the Secretary.
<br /> . � � 10. Reinetatemen� Barrower has a right to 6e rcins�ated if Lendcr hus required immediate payment in full because
<br /> __ ��� ��.�:�. ,����� of Borrower's failurc to pay an nmount due under the•Note or this Security Instrument. This right applies even after -
<br /> , � . foreclosure proceedings sue inslituted. 7b reinstate thc Security Instrument, Borrower shall tender in a lump sum ull
<br /> , amounts required to bring Borrawer's account current includfng,to the extent they are obligations of Borrower under this
<br /> � Security Instrument.forecbsure costs and reasonable and customary attomeys'feec and expenxe�properly assocfuted with
<br /> ihe foreclasure praceeding. Upon reinstatement by Borrower,thia Security Instrument und the obligations that i�secures
<br /> '�;, shall remain in effect as If L.ender had not required immediate payment in full. However,Lender ls not required to�crmit
<br /> . � reinstatement if: (i)Lender has accepted reinstatement after the commencement af foreclosure praceedings wlthm two
<br /> � �� ' years immediately pnxeding the commencemen� of a cuRent foreclosure proceeding, (ii) reinatatement will preclude
<br /> • ' fumclosure on different grounds in the future,or(iii)reinstatement will adversely nffect the priority of the lien created by
<br /> " lhis Security Instrument.
<br /> ; , ",,,i4, _, 11. Borrower Not Released; Forbearance by Lender Not a Waiver. Extension of�he time of payment or
<br /> , . � ' ..,.. . madi6cation of nmortizution of�he sums xecured by th�s Security Instrument granted by Lender to any successor in intercst
<br /> •�i�.•-, of Borrower shall not opernte to relcase the liability of ihe original Bortower or Borrower'.s successor in interest. Lender -
<br /> �"'- . '�`�' ''''�_` shall not be required to comnience proc:eeding+�grintit any succersor in interest or refu:;e to extend time for payment or =
<br /> �a ," � ,s _, :t: ' otherwise modify amortizatian of the snms secured by this Security Instrumern by reusun of any demnnd mude by the =
<br /> ;°' origina)8orrower or Borrower�successon in interest. Any forbeurunce by l.ender in exerciaing any right or remedy shall _
<br /> ��`' not be a wuiver of or preclude the exercise of any right or remedy. -
<br /> � N.�r ' h � � 12. Successars and Assigas Bound;Joint and Seve�al Liabflit3; ('o•Siqners. The covenunts und agreemenls of _
<br /> �0"`"' � this Securit Insuument shull bind and benc�t the successors und ussi nti of Lender nnd Borrower,sub ect to the rovisions
<br /> � �• �r• , y �,•� J P °
<br /> of P�uagmph 9.b. Borrower s covenant,und ugrecmcnts shull Ix jomt nnd scverul. Any Borrower who co•sigm this 6
<br /> u Security Inslrument but dces not execute Ihe Note: (u)ix co-signing thiq Securily Instrument only to mortgage,grunt nnd f
<br /> �" � • ' convey thut Burrower�:interest in the I'roperty under the terms of Ihis Security Instrumenr(b)is not penonally oblig�ted to
<br /> pay the sums secured by this Security Instrument;and(c)uEtners lhut Lender und any i�ther Borrower may agree lo extend, �
<br /> ' . modify,forbenr or make uny accommodations with regurd to the terms of this Security Instrument or the Nate wi�hvul thut
<br /> . f�,. -
<br /> .� • Borrower's consent. -
<br /> � � � , �� 13. Notices. Any notice Io Borrnwer provided for in�hiti Security Imuument shull bc givcn by delivering it or by
<br /> ' " � mailing it by first cluss mail unkss upplicuble low rcyuires us�of anathcr mr�hal. Thc notire shull bc direcled to thc =
<br /> , :.�c,=�-• Property Addregs or uny other uddrexs Horcower designutes by noticc lo Lcndec Any notice tu Lender shnll be given by
<br /> first dass muil to Lendcrz uddresti sla�ed hcrein or uny uJdre» Lcndcr dcsiFnales by naticr ro Borci�wer. Any noticc �
<br /> � provided for in�hiti Securiry Imwmcnt tihull he dcemed to huvc Ix:cn Eiven to Borrowcr or I.cndrr when given v�provided �
<br /> • ' �� in this parnFraph.
<br /> � • 14. (:overninA l.aw;Severabllity. Thi� Scruriry Inslrument .hull � guvcmeJ by fcdcrul luw uncl thr luw of thr -
<br /> . �' „ jurisdiction in which the Pmpe:ny is loratcd. In thc cvent thal uny provision ur cluu+e of Ihi+ Security Inztrument or the �
<br /> Note conflicts with apQlicoble law, such ronflict shall not al'tcct ulher pru�•i�i�rnti of Ihi� tircurny In+trumem�tt Ih�Notr
<br /> whieh cun be given cftect withoul the ronllicting pnwi�iun. To Ihi�rnd Ihr�mwi.iim.ol�thiti Sr�uriry In.trument unJ thc �-
<br /> Nole sre dcclared to Mc xevcrablc. ��
<br /> . I5. Bnrrower's Copy. Rom�wer tihull Ix Eivrn unr runli,rmrd copy��t thi,Srcurity In.trumem. �
<br /> , � ; l6. Assi�;nment of Rcntx. Burn�wcr unronditionally as.iEm,mJ tran.l'cr.iu l.cndrr all thc rcm�unJ rcvrnue.uf thc �
<br /> Property. Borrowrr uulhoriicti LcnJcr:�r l.rnJcr�u�rn�+tu r��l Icrt thr rrntti,md revcnuc,unJ hrrchv Jircct.ruch trnun�cit' f
<br /> � � . ' �hc Property w puy thc rrnt, ui Lrndcr ur Lrndcr's uE�•nt,, H����cvrr.priur tu L�n�cr:nutirc �a Burc����cr of Horrciw�r's •
<br /> :-�r hreuch ol uny eovrnunl ur nErrrment in�h�5ecurity In,irumem.liurn,w�r,hull roUrct:md rereive ull nnt�:inJ r�venue+uf �
<br /> the Proucnv us Iru�tcr for thc lxnct�it al�Lcndrr and Burruwcr. 7'hi�us�ienmrn�ul rcnl�rumlitutcs t�n ubwlutc ,iscienmrnl �
<br /> , �- --- - - and ncri un ussignment liir udditi„nnl ururiry only. f
<br /> .. If LrnJcr Ei��e�noticc of hmu�h io 13urrowrr. U�l all rrnts rcrci�•rd hy liurzowcr.hall Ix hrld hy finrruu•cr a�tru�lcr (
<br /> . for henefil uf Lender unly. <<,n�,�r�r«i��, �n, sunn �rcurcJ hy thr tirrurilv Intilrumrnt: Ih1 I.rneicr �hall Ix cntideJ lo �
<br /> . collect und reccivc all oT thc rcnis uf ih� ProFxrty:und 1�1 cach Icnanl ut thr IY���xrh•,hall pay all r�nls Jur:util mihaid�u �
<br /> • � Lendcr�ir Lender�ugcnt un LrnJer:writlen drm:md io thc�cnam. j
<br /> , ^ Bttrrowrr h�.r �It�l�xccul�J a�iy priur iitisi�:nmrnt �,f thr rcnt.:md ha� nut :md ��ill n��� �,rrli�rm any ac� Ihal would t
<br />� ... '�-.rr-°-- � - . �M1'^i![L_^!t!�^_C fC!`!*.l:`v,^!Cl.in.r.j�.-fl�hl`:Utl.�._r�h!•�!'•�r:i�ra��, 1!. �.
<br /> . Lcndcr tihull not Ix� RyuireJ tu entcr u�xm. tuhc runtr�il ul'ur muinwin ihr I'r�,�xriy Iklirre�n• allcr givinp nutirc ul i
<br /> � , brcuch tu Borcciwcr. H��wcvrr.Lrndcr ur a,judicially :ipp��intcd rrrrivcr uu�y do w al any timr Ihrrr i, a hrrurh. �U�).
<br /> . upplic:�lion uf rcnt.,hull�wt run ur����ivc un�•Jrl:wh ur imuliJ;ur am u�hrr ri�hi�,r rrmed}•�,f LrnJrr. I hi. a�.i�nmrnt
<br /> � of rcnts of thc Property shull tcrniinute whcn thc dcht�ccurcJ hy Ihr 5crurily In+truairnt i.paiJ in full. '
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