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<br />— ' � ��.� , . � 92-- .io71�25
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<br /> �_� , p�yment�,which aro rcferned w in Paregrnph 2,or chenge�ha amount of such payments. My excess praceeds over an
<br /> rmrn�nt�uinxi ta pwy all out�wnding indebudne�s under the Note and this Securiry Inetrument shall be paid to�he enti�y
<br /> - _ —.,�. '.., le�rlly entided the�tito.
<br /> ° � s. Feea. I..ender may cellect fees end charges authorized by the Secretary. _
<br /> �� - " 9. (irounds for Acxxleratloa of Deb� —
<br /> y` (A)DetAUll. Lender may,except as limited by regulstlons Issued by the Secretery in the case of payment default:,
<br /> �-- r lequiro immCdiule payment in full of all sums secuced by this Security Instrument if: �_.
<br /> (i)Botrower defaults by failing to p�y in full any monthly payment required by thia Security Instrument prior _
<br /> n,-„ to or on Ihe duc date of the next monthly payment.or =-
<br /> �,_ (ii)Borrowcr defaulta by failing,for a pedod of thiny days.to perform any other obligationa contained in this _—
<br /> =-t;,.-.- ,-� Srr,ori�y lnatn�ment. G�.
<br /> �,��,.,��:•�� (b)Sple Without Credlt Approvwl. Lender shall,if permined by applicable law and wi�h the prior approvaf of che _ v
<br /> —�- -=.,,�,:_s,�--�,,,t] Secretj►ry,rcquire immediate payment in full of all the sums secured by this Security Instrument if: �
<br /> ��„�L�o„�;;:'.f;�,� (i) Al!or part of the Prope�ty,or a beneficial lnterest in a trust owning all or part of the Property,is sold or --_
<br /> �� •tr�w otherwise tranafemed(other then by devise or descent)by the Borrower,und � �
<br /> •��;..��'�:'•"� (ii)The Property is not occupied by the purchaser or grantee ns his or her principal residence.or the purchaxer ��•
<br /> �;��� . � or grantee dces so occupy the Property but his or her credit has not lxen approved in accordnnce _
<br /> � .'' with the requlrements af the SeGrtary.
<br /> �"�"'~',9� •��•• ` (ei Nu Walver. If circumstances acwr that would permit Lender to require immediate payment in full,but l.ender �-
<br /> ���""�'�"r""�4�`'" does not require such a ments.Lender dces not waive Its rights with respecl to subsequent events.
<br /> . .A.;�-. —
<br /> - ''-' ' � ' �' ''" (d)ReQuladons of H Secretary. In msny circumstances regulations issueci by the Secretery will limit Lender's �
<br /> �`�. .��"'—`''�'�" . '� - dgh�s, in the case of payment defaults,to mquire immediate payment in full and foneclose if not paid. Thic c_
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<br /> Ya �"'� Secudty Inetrument dces not authorize accelera�ian or foreclosure if not permitted by ngulations of Ihe Secretary.
<br />, ;_ „ ,}�;:,,,,� � � • (e)Mort�auQe Not Insured. Borrowcr agrces that should this Security Instrument and the note secured thereby not ��`
<br /> , . ., . Q
<br />---. y �"" �- " "- be cligible for insurance under the National Housing Act within 8 �o�th8 from the �c-
<br /> � �� ' �'''` l.ender ma at its o tion and notwithstanding anything in Paragrap 9,requirc immediate payment in �y`
<br /> .. •�.�►ar.�:Y.:. . date hereof. Y� P
<br /> '�� full of all sums secured by this Security Instrument. A wrinen statement of any uuthorized agent of the Secretary __
<br /> •��•°�`b••�'•�' from the date hereof,declinin to insure this Securit `°�
<br /> . o . ��.�t► , dated Rubsequent to 8@o t� B Y
<br /> �• • "' �! lnstrument and the note secure�thereby,shall be deemed conclugive proof of such ineligibility. Notwilhstanding —_
<br /> � • �' the foregoing, this option may not be exercised by Lender when the unavuilability of insurnnce is solely duc to �-
<br /> ��"�'�"�"`y Lender's fuilure to remit a mongage+nsurnnce premium to the Secretary. _�--
<br /> . . 10. Relnstalement. Botrower has a right to be reinstated if Lender has required immedixte payment in full becausc =�•
<br /> `�r � ._.,2�-�_ of Borrowerk failure to pay an umount due under the•Note or tbis Security Instrument. This�ight apphes even efter �'
<br /> - ; _ , furu:ivau�a pr.x:ec�+iings are institutcd. 7b reinstate the Security Instrument. 9orrower shall tPnder in x lump sum all ___
<br /> • . amounts required to bring Borrower's uccount current including,to Ihe extent they are obligations of Borrower under this —
<br /> � ° �. ' Security lnstn�ment,fareclosure costs nnd reasonable und customary anomeys'fees und expemses Properly associated with
<br /> ° �he foreclosure proceeding. Upon reinstatement by Borrower,this Security Instrument and the obligations that it secures �._r
<br /> ,..� � . shall remain in effec�us if Lender had not requimd�mmediate puyment in full. However,Lender is not required to Permil _
<br /> � reinstatement if: (i1 Lender har accepted rein�tatement after the commencement of foreclosure prceeedings withm two �...;
<br /> e
<br /> years immediately preceding the commencement of n current foreclosure proceeding, (ii) reinstatement will preclude !
<br /> � . foreclosure on different groundx in Ihe future,or liii)reinxtotement will advencly uffect the priority of the lien created by
<br /> • Ihis Securi�y Inst�ument.
<br /> � •� � 11. Borrow:r Not Releaced; Forbearance b� l.ender Not a Waiver. Extension of the �ime of payment or ��-
<br /> • � � �. -r•> �� modification of amortization of�he sums secured by th�s Security Inswment grunted by Lender to uny successor m mleregt
<br /> " ••�.: of Borrower shall not opernte to relcu.w:the linbility af the originul Borrower or Borrower z successor m interesl, Lender _
<br /> �rh •:n�-.wc��.�••.. •'..� : t-_
<br /> . -- � - shall not bc rccluired to commenee proccedingti uguinst nn�sucre.��r in intere�t nr refuxe�o extend�ime for pAyment or __
<br /> ' otherwise mod�fy amortizution of the sums securcd by this Security Instrumcnt by reuson of any dems�nd made by the �,_--
<br /> j" � � original Borroweror Borrowers xucce,son in inlerewt. Any forbearunce by Lender in exercising eny right or remedy shall _�
<br /> / ,° •- "'" not be a waiver of or preclude the exen:ise of any right ur remedy. _:
<br /> • • - ,��� ;;� 12. Successors And Asslgns Bound;Joint And Several l.tability;Co•Signers. Thc covenants und ugreements of --
<br /> . r L,. this Security Instrument shall bind und benefit the successon und utisigns of Lender und Borrower,subject to the provisions �
<br /> d ,�, uf Parngraph 9.b. Borrower� covenants und ugrerment.�hull lx joint und zevcra l. Any Borr�wer w ho co-signs t his _
<br /> , Securlty Inswment but da:s not execute thr Noie: (a) is co-signing Ihis Security In,trument only to mortgage,grnnt and
<br /> � convey thut Borrower's interest in the Propehy undcr�hc terms of thi+Security Instrumrnt;(b)i�not penonully oblignted to
<br /> •� pay the sums secured by this Security In+�rumrnr und Irl u�rccs Ihu1 l.enJcr and uny other Borrower muy agrce to extend,
<br /> . ••w . madify,forbeur cx muke any accommndu�iom with rcgurJ to the�crms of this Secunty Instrumcm or ihe Note without that =
<br /> .' " ' �. Borrower's conscn6 �
<br /> , 13. Notices. Any notice w Borcower pruviJed ti►r in�his Secw•ity In,trument shall be given by delivering it or by _ _
<br /> '' mniling it by firsl clus, muil unles,upplirahlr luw require+ u,e ��f anothcr n�ethixl. Thr notice +hall be direcled ta the ��
<br /> �-:'��-h Property Addretis or uny other uddress Horn�wcr dc+iEnsuc.hy no�icr�u LrnJcr. A�zy notice to Lender shull be given by ��`
<br /> � � fir.tt clazs mail to Lendcr's udJrc�ti slutcJ hcrrin or any aJ�irr., Lrndrr dr.ignatc. ny n�►u« to Borcowcr. Any noticc
<br /> � „ Qrovided for in thiti Security In.trumcnt�hull I+c drennd tu h;�ac ix�n�ivcn to Borrowcr or l.cndcr whcn givcn ux providcd �a�
<br /> � m this parngraph. '�'
<br /> 14. (:overning Lnw:tie��e�ubHity. 'I'hi�5ccuriiy In.�rum�nt +hall tk govrrnrJ hy fcdcrul luw und thc luw of thc
<br /> jurixdiction in whirh thc Propehy iti I�xated. In�hr rvrnl�h:d nn�• pruvi�iun ur rl�iutic��f Ihis Sccuriry In+trumcnt or thc
<br /> �� Note contlicts with npQlicuble luw, wch runtlicl,hall nnl al'li•rl uther provitiion�ul'1hi+ Scrurity InNnnnent or the Nute .
<br /> � which cun be given efhrt wilhout�hr cunlli�iinE pr�»i,iun. 'li��hi,�n�l�h� ��r�rvi,ion�af�hic Securily Inxwment and the
<br /> ' Note ure declured to ix�cvcrs�blc.
<br /> , 15. Borruwer'ti Cupy. Hurruwrr,hull Ik Enrn unr rnnturnud cupy��I thi,Srruriiy hi.trumrnt. p `.
<br /> . 16. AstiiRnment oP Rcntx. Bom»vrr inui�ndiliun:►Ilr;iti�i�;n,and�ran�lrr.�u LcnJrr all thr rrnt.and rcvcnurs�if thc
<br /> Properly. Borrowcr authariir.l.cndrr ur l.rnd��r�u�:rm,iu r�dlc:�ihc rrnt.:�nd rcvrnucs and hrrchy dirccts cach tcnunl of t
<br /> + the I'ropeny to p•ry Ihc rrntti t�►Lrnder ur I.ender', a}�rn�.. I I„��r��rr. rnnr tu l.endcr:nulicr to FTiKroa•�r uf Bormwer+
<br /> breach of nny covenunt or u�r�cmcnl in�hc tircunly In.�rumrm.liunawrr.h:ill r��llcrt and recrivc ull rent�anJ revrnucs of �
<br /> ,� .' �hc Propcny u.trustcr far thr Ixnrl'il ol'Lrndrr and liw��,��cr. 'I hi.:i„ignmrnl�if rrnh run+litut�s cm aM�ulutr a«ignmrnt �
<br /> _ _ .__,_ .. .--..:-----..•.._...,.�:.:.._..�......._........�. �
<br /> .-- a�����.,�N��.,,,��c��������.�..�.....,�.�..��..� ..... ..,.�.,.. : -
<br /> If Lrndcr�ivc.noticc ul'hrc:�ch lu H��rru��rr I�il:dl rrnl,rrici�rd In� Burruacr.h.dl hr hrlJ hy HcirruH•cra� tru.tcc i
<br /> fnr bencht of Lendcr only. In ix ,�rri�«i��,�n.••inm,rrwrd h► Ihr tircuniy bi.trunt�nt: Ihl Lender shall hr entided ta �
<br /> collcct und reccivc ull uf�hr remti�d d�r Pr�qxv��: :md i.i r,irh���n:mt ul�hr IYuprrly .hall pay aU rrnl�vuc and unp:iiil lu �
<br /> ' Lenderor Lender±aFcm un LrnJrr'.��norn drman�l w Ihr i�•n:�nl.
<br /> Bnrrowcr hu�nol rtrrulyd cu�y priur ;i.���mnu•m ul ihr ���nt, :in�l ha, m�l und ���ill nnt prrliirni .uiy:►rt Ihut �����uIJ 4
<br /> �� .__ . _ .- _. rrf�vent 1��n�Wr frntn rtrrri�inp il�r���l�l�undri Ihi�1':u.�ri;mh It,.
<br /> Lendcr shull nnt Ix rri�uircd tu rnlrr npuu.�.�h�•�ununl �d nr m:unl:un Ihr 1'rn�,crly Ixforc ur a(trr�,i�•inE nutirr uf
<br /> ' brcuch to Horr�►wrr. Iluwcvcr. Lrndcr ui a �udi.•i;�ll� :�p�w�ini�•�I ircrivrr ma� du u� ;it ane�imr tlxrc i,;i hrcarh. An?.
<br /> npplication uf rent..hull n���rurr��r��:u�r any Jrl:�uh��i m�.�hJ:nr.un uihrr n�ht nr rcmrJy�►f LrnJrr. 'fhi.a�.i��nmrnt ,
<br /> � ,� , of rcnts of Ihc F'r�xxny xhull icrnnn:nr��•lu�n tlii•drl.�,ecw�•d h�•�h��tirr�o�m In+trum��u i,paiJ in I'ull.
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