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<br /> __ _ p�ymenu,whicli ve rcferred ro in Pnrn�► 2,or chnnga the amount of such peymcn�s. Any excexa pir�ceedx over an
<br /> �� �� nmountrequired N pay�II outBtaMing inde undor�he Nae and�hw Security Lwuumeni riwii bo paid�o�ho aia►y .
<br /> _;o ' le�aUy eodded thereto. -
<br /> �r;�.;, S, Feer. l.ender may collect fees and cluiraes quthoriud by the Secrctary.
<br /> - 9. arounde for Aaxkraqoa ot Debf.
<br /> . ,� (a)Defaak. Lendcr mpy.eacept as limited by regulations issued by the Secretary in the cuse of payment defauita,
<br /> ` � , �equite irrnnedintepayment m full of tdl sums�curcd by this Security Insuwnent if:
<br /> ,- (i)Borrower defaulta by f�iling to pay in full any monthly payment rcquired by this Security lnspument prior
<br /> to�r an the due date of thc ncxt manthly payment,or
<br /> (ii)Bomower defaulis by f�ilin�,for a period of thirty dayr,w perfornt any dher abligetions contained in this
<br /> _ - --� Secu rn'y lnsuumen�
<br /> -_--,���uz��� (b)Sale Wfthout Cred(t Approvnl. Lender shali.If pcnnitted by applicable law and with the pdor approv�l of ti�
<br /> __-- Sxretary�requlre immediatc payment in fuU of all the sums secured by�his 5ecuriry Insirument if:
<br /> •° °•-=a-�� ,�y� (i)All or part of the Property.or n beneficial intercat in a tcust owning all ar purt of the Propeny.is sold or
<br /> �",;r�•� oti�rwfse transfemed(other than by devise or descrnt)by the Borrower,and
<br /> �4�.+a�:
<br /> ----�� (ii)71ie Property is not occup[ed by the purchaser or grantee as his or her principAl residence,or the purchaser
<br /> — or grantee dae.s so occupy the Property but his or her crcdit has not been approved in uccordance
<br />--°--�?�_=��=,z`.� with the rcquirements of the Secretary.
<br /> (c)No W�fver. if ci�umswnces occur lhat wauld permit l.ender to require immediate payment in full,but Lender
<br /> ' � does not requiro suchpaymcnta,[.ender das nat waivc its rights with rcapect to subsequent evems.
<br /> _______..__.,�y��l� (d)Re�uutlaw ot HUD Secretsu�y. In many circumstances regulatians iesued by the Secretary will limit Lender's
<br /> - -- °-- —�--_-_--�-.�� dghta,in ihc casc of paymcnt defaults, torcquirc immcdiatc paymcnt in full and forcclosc if notpaid. This �
<br /> —pt�t.~~ � ,��.;�;; Security Instrument daes not authodxe acceleration or foreclosure if not permitted by regulations of the 5ecretary.
<br /> �n.ia�:.:�,;�r.t,'�b�:��''
<br /> :�'�{��r•.=J;:.- (e)Mortg�ge Not Inaured. Borrower ag�es that should thia Securlty Inswment and the note secumd thereby not
<br /> �:`- � ��f�a'''`• •• be eligiblo for inaurance under the National Housing Act within 8 mont hs from the _
<br /> �.��;:. - �;f�•' date hereoF,L.ender msy,at its option nnd notwlthstanding anylhing in Parugraph 9,mquirc immediate payment ln -
<br /> � �r""�-��^°'��"�- full of al l sums secured by thiR Security Insaument. A written statement of any authorized agent of the Secretary =�
<br /> '?•� '"��•'�='� deted su6seyuent to• 8 mont hs from the date hereof,declining to insure this Security
<br /> _ .�,�.;�+::.�a��: fi -
<br /> . „•.�,,.r.,.�.�,;.. lnstrument and�he note secured thereby,shall be deemed wncluaive proof of such incligibility. Notwithstanding
<br /> �-� r����"� the foregafng,this option may not be exercised by Lender when thc unavailability of insurnnce is solely due to -
<br /> - .�r.r.�-.u..,,v u.. �_
<br /> -' �,,;�•:y� � . � .,�,,r;: I.ender§ failu�e to remit a mortgage insurance premium to�he Secretery. _
<br /> _;'"�. --+ �•`�,;�:�.: ,;,;�� 10. Reinrtsrtemen� Borrower hes a right to be reinatated if Lender has required immedinte payment in full because
<br /> p�-.� � ` '•��' of Horrower�failure to pay an amaunt due under the•Note ar this Security Insuvment. This right opplies eve� after
<br /> —s;�.�.<,�.t= �_:.:.y: forcciosure proceedings are mstitu�ed. Tb reinstate tha Security Instrument, Horrower shafl tender in a lump aum ali
<br /> � •. . - amounts required 10 bring Borrower's nccount current including,to the extent they are obligations of Barower under this
<br /> " � "'"' Security Insnument,fareclosure costs and reasanable and customary anorneys'fees and expenses properly associated with
<br /> „ the foreclosure proceeding. Upon reinstatement by Borrower,this Security Instrument and the obligations t6at it secures
<br />_ � shall remain in effcct as if Lender had not reyuired immediute payment in full. However,Lendar is not required to�ermit -
<br />-•_,�; .� reinstetement if: (i) Lender haw accepted rerostatement after the commencement of fonclosure proceedings with�n two
<br />��- - : �„ years immediutely preceding the commencement of u current foreciosure pnxeedi�ig, (ii) ICIII��H�CIIICOI wi{I preclude �--
<br />. h" -� foreclosure on diiferent grounds in the fwure,or(iii)reinsmtement will adversely nffect the priority of the lien created by
<br /> .- '� .� .� ' "• thia Security Instrumem.
<br /> " ' , s�w " 11. Borrower Not Released; Forbenrance b� Lende� Not a Waiver. Extension of thc time of payment or
<br /> � modification of amortizalion of the sums secured by th�s SecuritX Instrument�ranted by Lender to ony successor in interest
<br /> ��e�. w
<br /> �... ,.t.:a�s.^,._,.,,i�;yo uf Bormwer shall not operate to reles�se the liability of the origmul Borrower or Borrowcr's successor in interest. Lender
<br /> " "' ahall not be requircd to commence praceedingx Aguinst any successor in interest or refuse to extend time tor puyment ar f-
<br /> �,� � o �• -•• . dherwise modify amortization of the sums secured by thic Security Instrument by reuxon of uny demand made by the --
<br /> �')•. '��'''--•� • original Borrowerar Borrower:s successorti in interest. Aoy forbeurance by Lender in exercising siny right or remedy Ahall
<br />" '`• - � not be a waiver of or preclude thc exercise of any right or remedy.
<br /> .,�,,,��'"`"'"'""" 12. Succ�sors and Assigns Bouad:Joint and Several Liabflity;Co•Signers. The covenants and ugreements of
<br />�.� �°t=-?�. - j;: this Security Instnment shall bind und benefit the successors and ussigns of Lender and Borrower,subject to the provisions
<br />�: , of Huagraph 9.b. Borrower; covenants and agreement+ xhull be joint und severul. Any Borrower who co-signs this
<br /> ` ' %�-' '�' ` Securlty Instrument bu�dues not exexute the Note: (u)i�co-signing this Security Instniment only to moRguge,grant�nd
<br /> � • " • ���- . convey thet Borrowerk interest in the Propeny under the terms of thix Security Ins�rument;(h)ia na per.�onully obligated to
<br /> �'�"`° puy the sumti securcd by this Securi�y Ins�rumenr,und(c)agrcc+that Lender vnJ uny othcr Borniwer may agrce ro ex�end,
<br />.�.�• ,,;,.u'. ' • modify,forbear or make any nccommadu�ions with regurd to the termti af this Srcurity Instrument or the Note wi�hout that
<br /> � ��,�. 2:;•�• Borrowersconsenl.
<br /> ` ' ,--�''-'��� 13. Notices. Any notice to Borrower provided for in this Sccurity ln�trumcnt shull lx giv�n by delivering it or by
<br /> . - mailing it by first clnss mail unle�x upplicuble luw reyuires utic of unuthcr methal. The notire shull be directed to the -
<br /> � "�.��" "' ' Property Addrexs or any other addresti Burrower designutcs hy notice w LrnJcr. Any nnticc to Lender shall be @iven by =
<br /> *``'-� � first clnss mail toLender'x uddrctis stated hercin ur uny uJdre�x LenJer designutes by nutice tu Burrower. Any notice -
<br /> provided for in this Securiry Inx�rumen�xhull Fx deemeJ to huvc Ixen givrn to B�irmwcr or Lender when given os providcd -
<br /> " , in this parugruph. _
<br /> ' 14. GuvernlnR Luw: SeverubUity. Thi.Serurity Instrumem tih•rll tx govemed hy FcJcr.�l law und the law of thc
<br /> ; � . jurisdiction in which the Proprny i� lucated. In the rvent th•rt any prnvixiun or cluuse of�his Security Instrument or the -
<br /> Note conflicls with upQlicuhle luw,such runtlirt�hull nrn uff'rri athrr provisinn�of thiti Srcurity Inztrumem or the Note
<br /> • ° which cun be given cftcr:t without the conflictinE provision. 'fi�thi.cnd thr prnvi+ionx c�f thi.r Srcurity Instrument und the
<br /> " • - � Note ure declamd tn hc scvcrahlc. _
<br /> � ;d ., � , I5. Borrower's Copy. Borrowcr�hall tk givrn unr runtiinned r��py i�f this Srrurity In�trumrn�. _
<br /> • � 16. Assign�aent oi'Rents. Horrnwcr unconditionally a��ign+and tramlcr.t��LcnJrr all thc rems und revenur+�if�hc =
<br /> ' Propeny. Borrower au�huriir,Lrndrr ur Lendcr�,i�em.���collccl Ihc rcnt.anJ rrvcnucs and hrrrhy Jircrts rarh ten�nt ot' =
<br /> the ProFx:rty to pa�• thc rcnts�o Lendrr�x Lend�r: a�cm,. Huwever, prior to LcnJrr: notire w Hurcuwer ul'Burrower: �
<br /> "•• ' breuch of uny cov��nunt��r u�rermrnt in the Serurily Intilrumrnl,Hurrower.hnll cullert anJ rerrive all rent�and rcvenuc.iN' -
<br /> �r � the Pro�xrty as trustcc for Ihc lxnctit cif Lcndrr anJ Hurrc�wrr. 11ii�atisignmrnt��f rrnl+r�m.titutr.un:�h�olutt uxxignmcnt +
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<br />� � --- �- -"---- - � — ---��- QIIO IIO[AO AStiI[lf1I11COt 101'Al1q1IlOIlUI�CCUfI(�'011l)'. —
<br /> . < ' - If Lcndcr g ives noticc of hrcurh 1��Rc�rrowcr: lal uU rcnl.recrivrJ Ny Hurroa•rr�hall Ix hrld hy Nnrr�ia•rr a�ttustrc �
<br /> for benctit of Lendrr unly. 1��Ix upplirJ to Ihe .utn.urrumJ hy d�r Srrurilv In+lrwm nt: Ihl Lendcr,ht�ll Fx rntitlrJ tu
<br /> collect und nreive ull uf�hr rcnt,oF the Pru�xrty;and 1�1 earh trnant uf thr lku�xn}•,hiJl p:�y:dl rentz dur and unp�iJ iu
<br /> - � Lender�x Lcnde r'y ugem on Lrndrr�wriuen drmand to tl�r trnant.
<br /> ,� B�►rrowcr ha�not rxrrutcd any prii,r a.�ignmrm��t'thc r�nt++inJ hu.r nut und �vill nul prrlirrm any ucl Iha� wi�ulJ y
<br /> - �� prevent Lcndcrtrom rxcrci.mE�t.riEht.undcrmi.Pi�ra�!raph Ih. �
<br /> � Lrnder�hull nu�Ix rcyuireJ w rntrr upun.tuhr cun�rul ol ur m:untain Ihr I'�u�xrty txliirc ur attrr�ivin�:nutirr af
<br /> brcach tu Horrowcr. Howcver. LrnJcr ur a juJiri;illy ar��intcd recri�•rr�na� Ju.i�a� any tinu Ihrrr i� u hrrurh. Any
<br /> - uppliculion o(Rnt+tihall not cum ur w�aivc any drfauh ur invaliJatc iun �Hhrr ri�:hl ui icm�Jy uf LrnJrc "Thi.u,�i�.nmrnt
<br /> ' , • of renlx of thc Properiy xhall Icrminmc when thc dchl.rrurrd hy thr tircurny In+trumrnl i,paiJ in full.
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