|
.I 'Y - z v - `- -- ' " __ '—
<br /> . . � �� . ::. . _`.�': '��.• . . � �' _
<br /> y .�' ' ...v(h�. �j'�'�
<br /> .ti.�".� ��c ._ — _
<br /> �
<br /> - ----- = 92- �O�p �
<br /> paymente,w6ich sre t�eferted to in Pau�gc+�p� 2,or chonga the pmount of xuch payment�. Any ezceAr proccxds over an
<br /> r• • �mattnttoquirod to pwy all nutstandin�indebtednew under�he Note wul�hi�Security Instrument�hsll be paid w Ihe ctuity
<br /> = laQ�lly entitled thereto.
<br /> 8. Feea, Lender may collect fecs ond ch.�r�es outhorized by thc Secretary.
<br /> _ — . 9. (inwndi tor Ac�xleradoa of De6�
<br /> :� . . (�)Detout� Lender mey,except as limited by regulatians is:ued by the Sec�etary io the coce of payment dePaults,
<br /> - -
<br /> °;�, reqWre tmmodiate payment in full of alt suma securai by thix Security lnsuurr�nt f: -
<br /> . (i)Bamwar default�by failing to pay in full�►iy monthly paymcnt�qulrcd by this Security In:trutnent pr�or
<br /> " to or on the duo date of�he next monthiy payn�enl.or
<br /> -- _ (ii)Bornower dofaults by f�ilin�,fot a periad of thiny dxys,to perf'orm ony othcr obliRatians conwined in�his
<br /> � �� Security InstrumcnG
<br /> „�__,,,��,;,,,,,,,;;,,,,,,,,,,,� (b)Sole Wildout Credtt Approvsd. l.ender shall.if permitted by applicablc luw and with the prlor approval of the
<br /> — " Sec�tary,nequire immediatc payment in full af aU the sums sei:u�ed by this Security Instrument if:
<br /> -- (i)All or psut oP the Prvputy,or A benefic�ul irroer�cst in s►trust owning all or parl of the Property,is r,old or
<br /> - _�;;�;�� otherwisa transferrcd(uttier tfiwn by devlse or descent)by t!x 8orrower.and
<br /> _�„�.��,� (ii)The P�nperty is not accupied by tha pu�r�qser or�rantee as his or her principul residenre.or the purchaser
<br /> —�•-- or grantee das so accupy thc Property l�df his or her crcdit har not been approved in acconiunce
<br /> --�- wfth thc roquirements of the Secnetary.
<br /> _�,�_,A,._t:^' (c)No Walver. If cfncwnstances occw that would permit Lender to require immediate payment in full.but Lender
<br /> � """'"' does not requirc suchpaymenta,Lender does not walve its righta wilh rcspcct to subsequent events.
<br /> �..n;:�.��_.1�� (d)Re�uladaw ot HUD Secretory. (n many circumstances regulations issued by the Secrctary will limit Lender§
<br /> "�� _�"��,.�;:,;.,_ti. dghts, in the cese of puyn�ent defaults, wrequire immediatc payment in full and foreclose if not paid. 7?�is �
<br /> --o�,;�.,�,��,' Securfty Inserumem does not awhorize acceleration or forecloxure if not pennitted by mgulations of the Secretsuy.
<br /> ���� ';; . '� (ej Martgage Not Insered. Borrower agrees that ahould this Security Instrument and ihe note secured Ihereby nat
<br /> .�r�u---_��_. . YT;+.��•,� _
<br /> - :�_--_=__<<��-_� 6e eligible fot i�suraece under the National Housing Act wlthin from thc v
<br /> -F-�`•?-'•��• � dete heteof.Lender may,at its option and notwithslnnding anything in Paragraph 9.requirc immediate payment in
<br /> �;: ° '• ~ full of all sums secured by�his Security[nstrument. A wrinen statement of any authorized agent cf the Secretary
<br /> � x��'� .�, �. .
<br /> ''�„ }, , dated subseyuent to from ihe dAte hereof,declining[o insure thia Security
<br /> -�� . ;�..r,., .-
<br /> _ - :6�.��;� Inawment and the aote secured the�by,shall be deemed conclusive praof of such ineligfbility. Notwithstanding
<br /> -���.�.�.�...._.:�_ � �he foregoing,this option may nat be exercised by Lender when the unovallability of inwrance ia solcly due to
<br /> -� � •=����-_ �'�� Lender's failure to remit a mortgage insurance premium to the Secretary.
<br /> —� �::.���..:::�•."::• .�►� 10. ReinstAtement. Borrower has a right to be reinstated if l.ender has required immediate payment in full because
<br /> ° '"�' " ` � of Borrower� failure to pay an amaunt due under the•Note or tt�is Security Instrument. This right applies even after
<br /> ._� ��<��a.. , foreclosure proccedings are instituted. 7b reinstate the 5ecurity Ins[rument, Borrower a h a i i t e n der in a iwiip dUlii A I I
<br /> ---- ._. amounts requi�+ed to bring Borrower's account current including,to the extent they are obligations of Borrower under Ihis
<br /> - �?' ' Security Instrument,foreclosure cosls and reasonable nnd customary attomeys'fees and eapenses roperly assaciated with
<br /> i}Y:. . •-
<br /> __�•- � the foneclosure proceeding. Upon�instatement by Borrower,this Security Insuurnent and the o ligations that it secures
<br /> .��:•'� shall remain in effect as if l.ender hnd not rec�uired immediate payment in full. However,Lender is not required topertnit
<br /> �:..�.. '..,...,; .
<br /> --=��!', . ,,.`•,� reinstatement if: (i)l.ender has accepted re�nstatement after the commencement of foreclosure pracee�iings within two
<br /> °� • yeara 3rnmediately preceding the commencement of u c�rrent foreclosure proceeding,(ii) reinstatement will preclude
<br /> '.`-.-� '�� foreclosure on different gmunds in the future,or(iii)relnstatemcnt will adversely afiect�he priority of the lien created by
<br /> :�"'�. ° ,,. . r thisSecurity Inswment.
<br /> � � . � l i. Borrowcr Not Released; Forbearunce b� Lender Not a Walver. Extension of the time of payment or
<br /> ` " ``' modifica�ion of umonixation of the suma secured by th�s SecuritY Instn�ment granted by Lender to any xuccessor in interest
<br /> ::i•.`.
<br />=r• , dA�;:�° of Bomower sholl not operatc to releu�e the liability of thc arigmnl Bortower or Bormwer's succcssor in interest. Lender
<br />� =;�` shall not be required to commence prceeedings agamst anX successo�in interes�or refuse to extend time for payment or
<br /> a, � �r_,; � � '���•'�"" otlierwise modify amonizution of the surns secured by th�c Security Instrument by res�on of aiy demund made by the
<br /> ��'���„ ,' ' � original Borrower or Borrowerk successors in intere�t. Any forbenrance by Lender in exercising any right or remedy shall
<br />_ , y,. ���, not be u waiver of or preclude the cxereise of nny right or remedy.
<br /> ^r.:.. ._ . '.� 12. Successors sutd Assiqns Bound;Jofnt ond Several Liabllity:Co•Slgners. The covena�ts nnd agreements of
<br /> � ��£ ".,�R��`"' '3`' this Securiry Instrument shall bind and benefit the tiuccessors smd ussi�ns oP Lender unci Borrower,subject to the provisions
<br /> "' t . . .�:.. .�.- of Paragreph 9.b. Borrower's covennntc and ugreementx shall be joint und scveral. Any Borrower who co-signs lhis
<br /> -''�' 8• � ^ Security Instrument but daes not execute the Note: (a)is co-signing�his Security Instrument only to mortguge,grant und =
<br />';. n'=�• convey�ht�t Bornnwer'�interest in the Property under thc temis of thiti Seruri�y Instn�men�:(b)ix not personally oblignted to
<br /> �"-• � � pny the sums secured by this Securily Instrument: and (c)agn:cs thut Lcnder und uny other Borrower mny ugree to extend, �
<br />:�,; ,: : . modify,forbeur or meke uny uccommodutions with rcgard to the�ertns oi this Securi�y Instrument or the Note without thut
<br /> " . •�~' ° t Borrower�consent.
<br /> "'��:z , ' • ��• • 13, NoNces. Any notice to Borrower provided for in this Sccurity Ins�rument shall be given by delivering it or by
<br /> '� � ° ,�,,, � • muilin�it by fir�t class muil unless npplicuble luw reyuircx use of unother methcxl. Tik natire shull be dirccted to the �
<br /> ' y�;�aw+k Property Address or uny other uddrcss gorrawer designu�es by notice to I.cnder. Any notice tc�Lender shall be given by -
<br /> : �, � first class mail lo Lcnder's addmss ti�ated hrnin or uny uddres. LenJcr dr�iEnalr,by n��tirc to I3orrowcr. Any noticc �
<br /> - provided for in this Security Instrument shull bc dcemcd 10 havc becn givrn to Barrower or Lender when given a.ti provided
<br /> _ �� - in this paragroph.
<br /> ` ��• � 14. (ioverning Law;Severabillly. This Security Intitrumcnt .hull i+r Ei�vcrned by Frik:rul luw und the!aw��f the
<br /> � _ ' jurisdiclion in which the Pmpeny is IixuteJ. In the cvem that any provitii��n ur cluu�� of thi. Security Ins�rumem or the �
<br /> a. Note conflicts with appliruble luw.zuch conflict xhull m��uffcrt other pruvisions u(thi,Serurity Inswment or Ihr Nutc
<br /> . ° .. whinc�on be given etlect without Ihe conllictin�;provi,ion. 'A�ihis end thr pri�vi.iix��of�hi�Security Inxtrument und the =
<br /> Note ure declnrc�d to Ix scver:�Mr. =
<br /> I5. Borrowcr'ti Copy. Borrowcr+hall Ix givcn w�c cont'unncd rupy uf lhis Sccurity Inxtrument. __
<br /> ! „ l6. Assi�nment of Rents. Hnrcoa•cr unrondi�iunuUy a�+ign�i�nJ tranxlcr.tu Lcndcr ull thc rcnts anJ rcvrnurx uf tim -
<br /> , PropeRy. Borrower authori�eti LenJrr or Lendrr+uErnt+w culler�thr rrn�.un�l revenuc�a�nJ henby Jircrt�cuch tenant uf -
<br /> . ` }� the Pmperty to pay thc rcnh to LenJer iir Lrnder'�ag�•niti. Huwrvrr.priur to LenJer's nutice tu Born►wcr uf Burtower'+ _.
<br /> :,� brcnch of smy covenant or a�reemrnt in thc Srcurity In.trumrnt.Burr��wrr�hiiU rullcri.�nJ rcceivr all rents and rrvenucs�►f _
<br /> a. _, '�__ __ ___ � the Property us tmxter f��r thr hemfit uf Lendrr;mJ Normwrr. 71ii.u.tii�ntncnt ul rent�canstitulr�un ahsolute as�ignmrm E_
<br /> . - --
<br /> --- - und not un vssignmrnt tor uddiuonal.ccurny unly. �-
<br /> . If Lender givcs nntice uf hreach tn Horrower: l.��all rcn�ti rrrrivrJ hy Burr���ver�hnll ix helJ by Hurro��•rr u.�ruti�rc •
<br /> . , for bcnciit oF Lendrr only,tu Ix applicd �u�hc,um. .crurrd hy thr Srrurily In.truiz��m: Ihl Lcndrr.hall fx rntitlyd t�� (
<br /> ' „ cnllecl :utd re�Cive ull of the rent�i�f!he Ifi���xny:anJ Icl eu�h I�nunl ot'thc 1'rn�xhy�hall p:l)' .III 1'CtlK�IOC LtlII UtlruiJ lu i
<br /> � Lendcr or Lendcr�agent on Lrndcr:���riucn denu�nd iu�he irnant. ,
<br /> . Borrowcr hu.ti no� execul�J mry priur u„i�nmrnt nl'thc rents :II1lI Illl\ I101 8�11I K'III Ilpl�1l`f101'lll iltl�' qCl 1N81 N"IlU W ,
<br /> � " � pttvcnt Lcnder fmm cxcrci+ing itti ri�hl+wiJcr thi�I'arugraph I6. ,
<br /> � „ Lcndcr tihall nu�bc rcyuircJ tu cntrr upon, takc comnil uf ur m.iimam thr I'nryk r��• Ix1i�n��r aticr�i�•ing nuticc ut
<br /> � .��, breuch to Horrowc:r. Howrvrr. Lcndrr ur a juJirially :ip�x,imrd rrrrivrr nr��• d�� ,u ut any tiinc Ihrr� i. ;i hrcurli. Any .
<br /> ._ uPPlirutiun uf rtint�.hull not curc or waivc anv dcfault ur m�•:►lidalr an}•ulhrr right �K rrmrd�•��1'Lrndcr. I'hi.a+.i�.nnu nl
<br /> � of'mnt�of the 1'rupi;ny shall temiinule when thr debt�rrurcJ hy�hr tirrurity In.trunxnt i��•uid ui Iu1L �
<br /> � : .,;�:i-
<br /> -- ����,e�•+�n����,a,�
<br /> i �
<br /> �, .,
<br />
|