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<br /> + p�ymentr,which a�o refetr�ed la in Pangrap� 2,or chango tha omount of such paymcros. Any excesx proceedi ovar on
<br /> _= amountroq uired Io poy �U ouutwidinQ lndebtedneu�undu the Noto and thi�Securlty Inatnunent shall be paid w Iho orNlty
<br /> - - - . k�ally ent�Ued Uteato.
<br />' g, Fed�, I.ender moy collect fees and chtu��es quthotiud b�•the Secrcwry.
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<br /> .;' 9. (irouad��or AcceknUaa ot Debt.
<br /> �_ � (a)Ue�wulf. Lender may,except as limited by regulationa issued by�hc Secrctwy in �he cw:c of payment def+�ulls,
<br /> - requiro immcdiutopuyment in full of�{I bums►ccurcc!by�hix Sc�:urity Inst�ument if:
<br /> (iy Borrowar defaultn by falling to p�y in full any monthly payment rcquired by thi�Security Insuument prior
<br /> ta or on ihe due date of the noxt monlhly payment,or
<br /> - (ii)Borrower defaulta by failin�,for u pedod of thirty days.to perform any other obligutions conlained in Ihis
<br /> ���.._.�.�.� Secu�ity Inswment.
<br /> =_����� �b)Sole Withoul Credit Approval. Lender shall,if pem►itted by upplicable law and with Ihe prior approval of 1he
<br /> 3ecr+et�y,require immediwc payment in full of all�he sums secured by this Security Inatrument if:
<br /> - -�����+ (i)All or psut af tbe Ptoperty or a beneffciel intercst in u trus�owning all c�r part of thc Property, i�xold or
<br /> "�'°�°`"°°""`'''°°'A� otherwise tran.vferned(qthe- �tt�at�by device or descent)by the 6orrower,nnd
<br /> --�"`"'"""'° (ii)The Property ir nat acaup[ed by the pu�+ehwser or grantee os his or her princfpal rcsidence,or the purchnser
<br /> ��;�?K+-,,�.!� or grantee does so occupy the PropeRy but hic or her crcdit has not been approved in secordance
<br /> - wfth the rcquir+ements of thc Secretary.
<br /> - "'- (c)No Waiver. Ii circumstences accur that would permit Lender to require immediaee puyment in full,bW Lender
<br /> . �✓ ,�;;, doea not rcquire auchpayments,Lender daes not waivc i�c rights with rcspect to subsequent events.
<br /> !,������1. (d)Re�ulallons a�HUD Secretary. In many circumstances regulations issuai by the Secr�ewry will limit Lender's
<br /> — ��y,�,r---•�.. rights, in the case of pssyment defaults, ta rcquire fmmediete peyment in full and foreclnse if n�t paid. This
<br /> ��� � ,. Securiry Instrumrnt dces not authorize acceleration or fareclosure if not permitted by regulationa of�he Secretary.
<br /> ��'+���' • ,'� (e)Mortgs�ge NM Insured. Borrower ag�es that should this Securiry Inatrument end the note secured thereby not
<br /> ,r'�•,'�to,. ., ..
<br /> ___r.,,.,-. • � be eligible for inaurance under the National Housing Act within from�he
<br /> :.:�':�.� '�'•:=�.�•� dete hereof.I.ender may.at its option and notwithxmnding unything in!'arngruph 9,require immediate payment in
<br /> �— • - ' full of all sums aecured by this Security Instrument. A wrinen statement of uny authorized agent of Ihe Secretary
<br /> — �: , . `• �;;.~ dated subsequent to from the date hereof,declining to insure this Security
<br /> � ,'.'••�...:•'•�,,;:_:�r,,. Insaument and the note gecured thereby,shall be deemed conclusive praof of such ineligibility. Notwithslanding
<br />""� � J:� �J'�`""'" the fa�egoing, tf�is option muy not be exerelsed by Lender when the unavailabiUty of insurance is solely due to
<br /> �-� � �'"�'"�'t t" Lender�s failure to remit u mortgage insurance premium to the Secretary.
<br /> .��"�"�a 10. ReinstAtemenb Borrower has a right to be reinstuted if l.endcr has required immediate poyment in full because
<br /> `��:,���t�E..�..��;;� of Borrower's failure to pay an amount due under the•Note ar this Security Inatrumem. Thia nght applies even after
<br /> ° - toreclosure proc e e dings m+e mati�uteci. 'i'u rcinainiC ll�c Scw�iiy i�laifUiii�tit, aotsawer shall tender in a lump sum a!!
<br /> --— e �. amounts required to bring Botrower's uccount curcen�including,to the extent they ure obligations of Borrower under Ihis
<br /> -- ` Secudty Instrument,foreclosure cos4g und reesonable and customary attomeys'fees and expenses properly associeted with
<br /> _ ���•-'• •� the foreclosure proceeding. Upon reinstatement by Barrower,thi4 Security Instrument and the obligetions that it secures
<br /> __' f�,. ,��,.4:,,:��;,-� ahall remain in effcct as if Lender had not rec�uired immcdiate payment In full. However,Lendcr is not required lo Permit
<br /> reinstetement if: (i)Lender has accepted reinstatement after Ihe commencement of fomclosure prceeedings wilh�n two
<br /> -'�= �,��.i . .. �.�;�• years immediately preceding the commeneement of u current foreclosurc proceeding, (ii) reinstatement will preclude
<br /> -- " foreclosure on different grounds in the future,or(iii)reinstutement will advenely affect the priority of the lien cteated by
<br /> .�' � '.. . lhis Security Instrument.
<br /> 4•� 11. Borrower Not Released; Fo�bea�ance by Lender Not a Waiver. Extension of the time of paymest or
<br /> `� °;.N'is;� `. :'.�' modification of amortization of the cums secured by this Securiry Instrument grunted by Lender ta any successor in�nterest
<br />`�_��� , � ,.. : of Borrower shall not opernte to release the liubiliry of thc originul Borrower or Borrower 4 successor in interest. Lender
<br /> -=� .• " shall not be rcyuired to commence praceedings ngnmst any succestior in intcrez�or refuse to extend�ime for payment or
<br />-- ��,.•�P'•�'•.�• �•��•-�� � dherwise madify amortfzntion of Ihe sums tecured by this Security Instrument by rea+on af uny demand made by �he _
<br /> � original Borrower or Bortower+successorg in imeres�. Any forbeurance by L.ender in exercising any right or remedy shall
<br /> ` � `"' � .. -- not be a waiver of or preclude the exercise of�ny right or remcdy.
<br /> — ,�� 1Z. Successora and AssiQns Bound;Joint and Several Liability;Co-SiRnerx. The covenunts und egreements of
<br /> __ _,,�. :� this Security Inswment shall bind und benefit the succassors und usgignx oY l.cnder und BoROwer,subject to the provisions
<br /> ^ ,, ;,° .. of Paragmph 9.b. Borrower's covenonts Lnd vgreemenls shul) Ix:joinl und severul. Any Borrower who ca-signs this _
<br /> __— ° ' � � Security Instrument but does not execute the Note: (a) i�co-signin�this Sewrity Ins�rument only to mortguge, �rant and
<br /> � � �' v convey that Bortowerti interest in thc Propeny under Ihe terms of this Sccuriry Instrument;(b>is not personully obligated to _
<br /> :,;.�� ' .� pay the sums secured by lhis Security Inztrument:und Ic)ugrces that Lendrr and:my other Borrower muy agree to extend,
<br /> '�? �-•. modify,forbenr or make ony uccommadutions with rcgurd to Ihe terms of this Sccuriry Inwtrument or the NoFe without that
<br /> +����,_.;�' Borrower's consent.
<br /> i� . ,� ' . • 13. Notiees. Any notice to Burrower provided for in thi�Security Ins�rumrnl shull tx given by delivering it ur by
<br /> _.#�„ -:,,;� ,; ,� ..,, mailing it by first class mail unless upplicuble luw reyuires uu of;u�othcr mrthai. The notice shull be directed to�hc
<br /> ��s Property Address or uny other uddress Borrower dezignate� by nc�tice ta Lender. Any noticc lo l.ender shull be given by _
<br /> ' �', • - first clusx muil to Lendcr's uJdress stated hercin or uny uddrc�� LenJcr dr�ignutr�hy nntice to Borruwcr. Any notice
<br /> -- provided for in thir Security In�trumenl�hull Ix dermed In have Ix:cn�ivcn tn Bormwer or Lendcr when given a�provided
<br />- '� .. '. ' in this paragroph.
<br /> � ' 14. Governing I.aw: Severabilily. This Srrurity Inti�nimem yhall tx govcmrJ hy F�dcral law •rnd the law of thc
<br />-" � ' jurisdiction in which thc Property iti Icxuted, In thr event thut uny prmision or rlautic of thi,Seruriry Instrument or Ihc �
<br /> Note eonflicls with applicuble luw. +uch ronflirt�hall nol affec� other pro�i�iom uf this Srruri�y Instniment or ihe Nate
<br /> �� whieh cun be given effect withnul Ihc contlicting provision. Tii Ihis end thc pru�•i.iuns uf thi.Serurity Instrumenl and Ihe
<br />�� Note arc declnred to he �cveruble.
<br /> , IS. Borrower's l'upy. Burruwcr+hull Ix�givrn onc rontimnrJ c��py of this Srcurity In�trunknt.
<br /> 16. As.si�nmenf ot Ren4c. Burrower uncuixlitiunally ati�i�rr.��nJ�ran+i'rr.ta LcnJrr ull ihe rent.und rcvenues ot'Ih�
<br /> `. . Propeny. Borrower uutlxxiic.L.enJ�r ur Lrndcr:ugrnt.a�collert thr rrn��and rrvrnur,;m�herchy Jirect�rach ienunl of -
<br /> - Ihe Property tn pay th� rcnts to Lendcr ur l.rndcr+ ;�Ern�.. Hu��•cvcr. prior t��Lrndrr: nuticc to liumiwer ol'B�xriiwer;
<br />- � •� breach of any covennnt ora�rcement in thr Srruriry In�trumrnt.B�irru��•rr.hall rullrrl unJ nrcivr;�II mnl�:u�d rrvenue+of
<br /> :_ '� ,,, �hc Pruperty us trustcc fur thr Ixnrlit ul'I.rnJrr;md {iarr„wcr. Thi.:i,�iFnmrnl ol'renls con,titWcs ua ah,ulwr:��ugnnxnt
<br />� --— • . ----...-.-'----7 0(10 IlOI a0 ASSIEIIRICN itRiltltlili��nul tiCCUtiiy uniy. -
<br />--.'��'. � If Lender givc�nuticc ul hrrach lu liurn�wcr: (:u:ill rrnl,rrrri��rd by Borro���cr�hall Fx hrW hy Fiorn►a�cr:u tru.trr
<br /> � .
<br /> 1 for 6encfit ol'LenJcr c�nly, tu Ix�applicJ to Ilir+uin++rrurrJ I�y thr 5erurin• Imtrumcnt: 1 h�Lendcr .hall Ix cuuUcJ tu
<br /> ° collcct und m�civc ull ol th�rcnt+��I'1hc PruFxri�•::►nd lcl r:�ch Irnim���f�h�F'ro�xr�y�hall p:�y:►II renl�due unJ unrviJ to
<br /> " . Lender or Lendcr's ugrnt un l.cndcr',wriurn demand d�Uir tcnant.
<br /> I3orrowcr ha� not cxrcu�cd any pri�ir atitii�nmcm uf�hr rcnt,anJ ha.nal and will nut �nNi�nn :uiy uct th�t ��uuld
<br /> � prevent Lrndcr fmm cxcrei,in�itti rii.ht.unJcr�hi.1'aru�!raph IG.
<br /> ' ; I.cnd�r.rhull n�n hc rcyuireJ t�►cntcr u�xm.�akr r�mtrt�l ul'ur mainlain�hr 11•���kriy 1►c1i�n ur aft�r�:i�•in� �k�tir�uf
<br /> � , brcurh ro Borrower. Nowever. Lrndrr�,r u juJiriully� up�x►inird r.rciver ma� du.��cu uny umc Ihrrr i+:i hrcadi. An�
<br /> , . upplicutiwi uf rcnts shall n�t rurr��r��:ii��r:ury d�t:�uU��r m�aliJatr am �rihrr nghl��r rrmrJy nl I.rn�,er. �I'his a.�ignnu�nt
<br /> . " of renls of the Propeny shall Icnninutr when�hc dcM,rrurcd h}•ihr Scraril� Imtrumrnl i.�,aid o�full.
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