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<br /> . _,-�--.._._ 92— � -�s �-
<br /> , „� � payments,which are rofemed ro in PerAg�ph 2,or chu�gc tho wnount of such pAymente. Any cxcesr proco�+over wt
<br /> w�wum�ui�d to pwy�II oul�tondin�indebtodne�uMcr the Noto ud�hir Security liuuunretu rhaU be paid to Wa enthy
<br /> ° lr�ally endlled lhento.
<br /> - - --� g, Tree�. (.c.mlcr i�y callcct fee:.and chas�cs ttuUtorized by the 9ectetary. _
<br /> �w�� 9. Grounda tor AccekpNoo ot Ikbt.
<br /> (a)DefaW� L.ender may.oxcept as limited by regul�ions issw;d by the Secretwry in the case of payrnent defaull�.
<br /> . requirc immadipu paymcnt in full of all rums�ecw�ed by�his Security Instrument if:
<br /> (i)Borrower defaults by f�iling to pay in fLll Any mo�thlY paYment roquircd by�hi�Security inctrument prior r
<br /> ���,� to or on tho due date of ttte next monthly pnyrnent,or
<br /> wer defaults b f�ilin ,for a dod of�hirt days.w pedotm ony other obli�atiu�u conlained in this
<br /> �. (ii)Borro Y � P� Y
<br /> -�°—��� Security Insuumen�
<br /> (b)SAIe Without Credit Approval. Lender shall,if pertnitted by epplicablc luw and wlth the priar Approv�l of�he
<br /> �, ��- �-�,•.rr,�u;s�'ttns�lfste Fs;�tat in fn!!e!'�!1�h••a�ma v+curui by thi�Secu�ity Ins�dument if: �
<br /> ��,.,•--$�,,,i4�"�"'�� (1)All or part of the Prope�ty.or a beneficial intercst in u trust awning all or paet of Uu Pmperty,Is rold or
<br /> - ` utherwiso tronsfe�ned(other than by devire ar descent)by tha Borrowcr.and
<br /> � �T__ _ _ is not occ ied b the rchascr or rantee os hfs ur her tincl 1 residence.or the rchascr
<br /> � _-•.-°;•`� (ii)7'he PmpeRY uP Y Pu B P Pa P►�
<br /> or grantee dces so occupy the Propc7ty 6ut his or her crcdit iws not been Approved in wccad+uue
<br /> �.�n� � wi�h the requirementa af the Secretary.
<br /> ��,y��,,,.,- (e)No Waiver. !f circumstances occur that would pemtit Lendar tu require immediate payment in full,but Lender
<br /> —�,�:.���,;.. daes not ieyuire suchpayments,Lender das not wa�ve its dghts with rcspect to aubsequent evenls. _
<br /> �.�_,,,�.�� (d)Re�u l a t ions o t H U D S e cre�nry. In muny circumstunces regulutions issued b y�he Secre t o r y will limit Lender�s
<br /> - rights, in the case of pstyment defaults, to rcquirc immediate paymcnt in full and fareclose if na paid. This
<br /> �''�'`•��� Security instrument does not authoriu acceleration or foreclosure If not permitted by regulatiaw of the�ecrctuy.
<br /> ��"':.'' '` .:`�;�:` (e)Mortga�e Nat Insured. Borrower agrees that should this Security Instrument and the note securcd thereby not 4
<br /> -_ .=f...:=`�..
<br /> --�-�~�_��°� be eligible for insurance under the Nationul Hauaing Act within 8 aAOnt h8 from the
<br /> �`�"''""" "''''�` dtue hereof,Lender may.at its aption and notwithstanding nnvthing in Pivagrnph 9.n:quire immediute payment In
<br /> ._�r .'',_,:il.ir�ti:
<br /> ,_ �, ., :; full of all suma secured by this Security Inswment. A written swtement of su►y au�horized ugent of the Secr�etary
<br /> - �r��!�-' ..:�:� dated subsequent to 8 mont hs from the date hereof,declining to insure this Secudry
<br />```� � Instrument and the note secured thereby,shall be deemed conclus(ve proof af such ineligibility. Notwithstunding
<br /> •,�,�.:�� ,...;,�:.,_
<br /> "=::� ;,'�,,�;;�:.-,,:--,:.,�h the foregoing. this option may not be exercised by Lendcr when thc unavnilubility of inaurance is sotely due to
<br /> � . �;��";. : �.: �� l.ender�s failure to remit a mongage insursince premium to the Secretary.
<br /> r�v.�.�.:.::_-:.• :;�:•` 10. ReinsfAtement. Borrower has a right to be re�nstated if Lender has rcquired immediate payment in full because
<br /> ���'�""`� `°'"'"�"� of Bortower�s failure to puy en amount due under ihe•Note or this Securiry Instrument. This nght applies even after
<br /> ''�'�`{` � ���"` foreclosure proceedings are instituted. 'Ib reinsrate�he Security Instrument, Borrower shell tender in o lump sum al!
<br /> _—.�'v;�>�t�i:rirG'�.ix�b�:' amoun�s renuimd to bring Barower's uccount current including,to the extent they nre obligetians of Borrower under this
<br /> � `"'° � -�f' 'c` Secudty Instrument,foreclosure casts und reasonnble and customary uttomeys'fees and expenses Praperly ar+sociated wfth
<br />�-'� '�; ,. ,. ' � the foreclosute proceeding. Upon reinstutement by Borrower,this Security Instrument And�he obligations that it secures
<br /> shall remaio i�effect as if Lender had not required immedinte payment in full. However,Lender is not requircd to permit
<br /> � �' � ' reinstatement if: (i) Lender has accepted reinstatement nher the commencement of for+eclosure praceedings within tw�
<br /> -���� ;� � � �., yeazs immediately preceding the commencament oi A current foreclosure proceeding, (ii) reinstatement will preclude
<br /> ,. , foreclosure on different grounds in the future.or(iii)reinstatement will adversely affect the priority of the lien creoted by
<br /> ,� i;. . ,.t " this Securiry Instrument.
<br /> ,�• ,,,�,,,,�: 11. Borrower Not Released; �orbearance br I.ender Not a Waiver. Ex�ension of the time of payment or
<br /> , a.,,;, modification oiurnortixation of the sums secured by this Security Inswment grunted by Lender to ony cuccessor in interest
<br />•.T� ,.,,��,r;,.,,; „ ,,,� ,__ of Borrower shell not opemte to reles�se the liubility oi the originul Borrower or Borrower's successor in interest. Lender
<br /> ��' „��, , . , shaQ not be re4ui�ed to commence prceeedings uguinst anX successor in interctit or refuse to extend time for puyment or
<br />_. otherwise mad�fy amortization of the sums secured by this Securiry Instrument by reuson of uny demand ma�ie by �he
<br />�� =� ";�`_' °- :--`;`� original Borrower or Borrower's succesau��in iuterest. Aoy forbearrncc by Lender in exercising uny right or remedy�ha!! �
<br />_ ��'' not be n wniver of ar preclude the exercise of uny right or rernedy.
<br />�: � .�a,q`;��;:;;''� .
<br />_i „ ..�� . 12. Successors and Asslgns Bound;Joint and Severul Liability;Co•Signers. The covenants nnd agreements of _
<br />- , � �, this Securiry Instrument shull bind und benefit the successan und i�ssigm of Lrnder und Borrower,+ubject to the pruvisions
<br /> - • ��„�' of Pumgrnph 9.b. Bomower� covenunls und agreementa tihull be joint und zeverul. Any Borrower who co-signs this
<br /> A Security Inswment but dces not execute tNe Nate: (a)is co-signing this Security Instrument only to mongage,grant and __
<br /> ,��.;,,,. ,� convey that Bortower:s interest in the Property under the tertns of thix Securi��•Instrumenr,(b)is not personally obligated to e.�_,
<br /> ". ° ' pay the sums securcd by this Security Intitrument;und Ic)uFnes that Lender und nny other Bortuwer muy agree to extend, ��:_
<br /> -- malify, forbepr ar make siny nccommodations with regard to Ihe terms of this Security Instrument ur the Note without thut
<br /> Borrowcr!s consent.
<br /> '` � 13. Notices. Any noti�r to Borrower pruvided for in �hiy Security Intitrun�nt rhnll be given by dclivcring it or by
<br /> '� , :�,�� � mniling it by first class muil unless r►pplicuble law reyuircs use u(vnother methad. Thr noticc shull be dircrted ta the
<br /> ..j-, .. . Propeny Address or any uther uddresz Bortower detiignuteti hy notice to Lender. Any notice ro l.ender+hall be given by
<br /> :�,•� '�`"° flrst Class muil to Lendcr� uddrcss stnted herein or any adJmss LenJrr dr.�gnales by natice to Burrower. Any notice
<br /> �� � ••• Provided for in this Security Inxtrument,hall tx dcemed to havc been�iven to BoROwcr or Lender when given nx pmvided
<br /> m this paragraph. -_>
<br /> ' %�. '. 14. Governins La�w, Severubility. Thiti Scrurity In.trumrm shull he govemeJ by FYderul luw und thc law of the
<br /> jurisdktion in which thc Propcny is I�xatcd. In Ihr cvern that uny pruvision or rluu�c of this Security Instrument or Ihe
<br /> �,'' Note conflicts with upplic�blc luw, surh rantlirl�hall not affect other provi+ion+of thi+ Security Instrument or the Note -�'
<br /> • , which cun be given effect withuut the rnnflirting provi+ion. 7'i�this cnd�he pmvi�ion�af'thiti Securiry Instrumem•rnd�he �_-*:
<br /> , „ Note ure declaRd to Ix�cvrtuble. =�-
<br /> , �• 15. Borruwer's Copv. BaROw�cr�hull tx Fivcn onc cunli�rmrd cupy ul�tliiti Sccurirv (n.�rumcnt. �'`',
<br /> 16. Assignment of Rcnts. Horrowcr onconditional ly atisign�anJ trantilbn tu LrnJrr all thr renh unJ rrvrnuc�uC Ihr !` ''
<br /> � ' Pro�x:tty. 8ortowcr authoriics Lrnder or Lrndrr::►�entti tu cullrrt thr rent.and rcvrmkti:uid henby Jirer�,rarh�rnimt nt'
<br /> � the Propcny to pay�hr rrnts to Lcnder ur LrnJrr: apentti. Fi�x�•evcr, priur ta LcnJcr+n�i�icc to Bum�wer of Burruw�r: �'
<br /> � '� brcach of m�y covenunt or agrerment in thr Srrurily In.trumcnt.Rarr�x�rr.hall r��llrrt and recrive ull rent.and Rvenue.ot' �
<br /> ' � the 1'ropcny as truslcc 1'or�he lx�netit af LrnJcr and Norcuu�r. This u.ei�nmrnt uf rrnts r��nxtitulr+un uhsolutc uxsiEnment
<br /> � � and nat un u,signment ti�r�dJitianal�rcuriry��nly.
<br /> �r-.- •�:-�s.+��� If Lender civcs notice i�f hrcarh to tium�u•cr: lal aU rrn�.rcrci�•rd b�• Hi�rru��rr.hall tx hrlJ hy Horm�vrr u,lru+tcr �, ',.'
<br /> --- T= -- - for benefit of Lender unly. tu Ix upplirJ to thr,wn,,�curcd b�• thr Scrurit� In.trunxnt: Ibl LenJrr.hall Fx rntidrd to �-_
<br /> .- �, . collecl und receivc ull uf thc r�nt,of the f'ro�xny::uiJ 1�1 earh tcnant uf thr F'ru�xny,hall pay all rrnts duc and unpaid to �
<br /> " Lender ur Lcndcr's agrnt im I.endcr;w•nucn drmand t��thc tcnar�t.
<br /> „ •• Burn�wer huti not cxecuted any pnur a„ignment c�f ihr rent.:mJ ha, not anJ will nut �rlorni :►n�• art �h�� wuuld (
<br /> '..�• prevenl Lendcr from cxercising i�.right�unJrr thi� F'ara�raph 16. �
<br /> . . , Lendcr shull not be rcyuirrd to rnter u�xm.t:il�e cuninil��t'ar maintain dir I'm�xny Ixf�urc ar :dirr givinE no�irr��f �
<br /> .11� .�n...1 r,•_•�.�v_•r�..•�• J�. ... �� •.�v timr�h�•r�• �. :� hro:u•h Am f
<br /> - _=- - •-- - - hr�:i:h:oi3arron�r. lfo:. ec:. Lcr.d: :a.j:::liri.t ; :,;. t_.. ..t. t
<br /> ' upplicati��n of rcnt+tihall nut curr ur wuivc uny Jrluuh or imulidutr any��thcr ritiht ur rcm�d� ��f Lcnd.r. Thi.a+,iEnmeiit
<br /> of rcids of thc Property shall Icrniinate u•hen Ihc dcht ururc�l h��the S�c�rit� In,trnmroi i.paiJ m lull. �
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