|
_ .
<br />� .'�i'�`g,-�'`�°-����.. - -- - -- - =�,Lx�L�`�__ — --
<br /> .� -�`'�c�-s�-:'� -��z�+---��______---`-,- . �--
<br /> ��' �a" . . . r���.s' n t:.,n v��� � .. . '. �i:,
<br /> �S4 � ytt:tN!"!L�'v'7"<' ' 't°� _°
<br /> ' ' �i�iss.�-.v���
<br /> -_° 3� � 92- 10�i29
<br /> _ -------- ,
<br /> -_ payments, which uc refemed to in Pua�ra�changc the amount of xuch poyrr�n�x. Any exccxx praccedR over�n
<br /> _ --- ,u�M,uut��y�li��S lG�3 i{I OiitFSAiitt�fl��i1dC un�3�:��i��'k,tC W�f�bir Secunty Insaument rAWI bo pwd to the enuty
<br /> �::�. k��lly entitled 1he�+eto.
<br /> '':::�„r,.�:a.�":� . 8, Feee. Lender may collect fees und cha.r�ea Amhorlxed by the 3ecrelury.
<br /> ' 9, (iraund��ar Accekralloa of Debt�
<br /> � ; (a)Defaul� Lender mAy,eacep!sx lirnii�d by regulu�fons iscued by the�ecretary in the cese��f payment defaultr,
<br /> - require immodiete�uyment in full of aU sums�ecured by thin Security 1n�lrumeM if: _
<br /> �x : (i)Bomowcr defaults by faiNng w pnny in full any monthly puyment rcyuired by thir Secur��y Inslrument prior
<br /> �= ir�• •�. � � to or on the due date of tho next mon�hly payment,w
<br /> "� ������ (fi)Borrowar defaulta by failM�,for a period of thiny deys,�o perfom�any o�her obligAtionr canwined in�his
<br /> _-�:�;-�._-.,=— Securlty Instrument.
<br /> '�'��'' +�"'�' Wilhout Credit ApprovaL Lender shall,If permitted by opplicAble luw und wlth the prior approval of the
<br /> ��-��'�>:,_��=� (6)Sale
<br /> �L:.�-_-�r.� Sexretary,rcquirc immuliute payment in full of ull the sums recured by this Secu�ity Instrument if:
<br /> �� (i)All or part of the Property. or a beneflciul interest In a tni.rt owning a11 or part of the Propeny,ls sold or
<br /> i%�- ^�;�21.,�, otherwlse transfemed(ather than by devlsc or descenU by the Borrower,and
<br /> � ;.-� (fi)The Property is not cecupied by�he purcheser or grantee s�a his or her principal residence,or the purchaser
<br />�� _•, �-;,. : ;-�"- or grantee does so occupy the Propeny but his or her credit has not been approved in nccordance
<br /> �.��g�, wilh the requirements af the Secretary.
<br /> � 1,:: - ,•,,f'" fc)No Wi�iver. lf cireums�ances occur�hat would permft Lender ta require immediote payment in full,but Lender
<br /> - - docs nat require Ruchpaymenta.l.ender does not waive its righls with respect to subsequent events.
<br /> .,�;-;:�'� - ` � (d)Re�ulwdons ot HUD SeereWry. [n meny circumstances regulada�s issued by the Secr+etary will limit Lender's
<br /> - - -�,=-.,-;;; g.:,:;..° rights. in the cuse of payment defaults,torequire immediate papment in full and forcclose if not pald. This -
<br /> �; : Securiry Instrument daes not authorize ucceleration or foreclosure if not pertnitted by regulations of the Secretary.
<br />;--,� �.;_. ___ __.::�;�_' , (e)Mnrtgage Not Insured. Borrower agraes that shauld this Sccurity Instrumcnt and the nate secured thereby not -
<br /> . . � be eligible for insu�nce under the Natanal Housing Act within from the
<br /> ' � • • •� ; �: date hereof.Lender may.at its option and notwithstanding anyU�ing in Paragraph 9,require immediate payment in
<br /> � " full of all sums secured by this Security Instniment. A wrinen stat.:ment of any�uthorized agent of the Secretary
<br /> ` ,, �. ,,,j��' dated subsequcnt to fram 1he date hereof,decllning to insure this Security
<br /> . '' dq,�,;r,:,, ±., �.;� Instrument and the note secured�hereby,shall be deemed conclusive proof of such ineligibility. Notwithstanding _.
<br /> ° ' , the fomgoing,this option may not be exercised by Lender when �he unavailaioility of insurance is solely due to -
<br /> ' ; af,��_,,,, . - L.ender's failure to remit a mongage in�urance premium�o tha Secretary.
<br /> 10. Relnetwtement. Borrower hss a right to be reinstuted if L.ender has�equired immediatc payment in full becausc
<br /> y ! ,�;q�;. . _.,,,,,.q±;_, of Borrower's failure tu pay an amount due under the•Note or this Securiry Instrument. This nght epplies even after
<br /> `-� �- .-- fo�eciasure proceedings are instituced. To reinsutte the Scc:urity In�irw��ot, Burn,wCr �i�ail tc�idCr iu u iu���N nuii� a11
<br /> .. amounts required to bring Borrower's account current including,to the extent they nre obligu[ions of Borrower under this
<br /> ", Security Instrument,foreclosure coats and reasonable and customc�ry unorneys'fees and expenc;es properly associated with
<br /> � � „ �he foreclosure proceading. Upon reinstatement by Borrower,�his Security Inslrumenl w�J thr.ubligatiai�Ibat it s�wres -
<br /> : �t , shall remain in effect as if Lender hud not reyuired immediute payment in full. However,Lendcr is not required to�ermit
<br /> reinstaternent if: (i) Lender has accepted rc�ns�utement after the commencement of foreclosure p�aceedings wilhm two
<br />�� ° ,i,'. years immediately preceding the commencernen► of n r,urrent fareclowre proceeding, (ii) reinstatement w�ll preclude
<br /> � ^ fomclosure an different grounds in the future, ar(iii)reinstntement will adversely affect the priority of the lien created by
<br /> " ° thjs Security Inatrument.
<br /> � '" 11. Borrower Not Refeased; ForbwrAnce bv Lender Not a Walver. Extension of the time of payment or
<br /> ; �"`� � ' madificntiun of umortization of the sums secured by th�s SecuritY Inslrument grunted by Lender to any successor in interest
<br /> �, , �j, of Borrower shnll not opemtc to rcleusc the liability of the origmul Borrower or Borrower e successor in interest. Lender _
<br /> �._- •- � - --- shull uul be�eyui�ed to commence pro�eedings rgainst an7 succetiwr in interest ur refusc ro extend ti�rx Cur paymcnt or F
<br /> � otherwise modify sunortization of the xums tiecurcd by this Securily Instrument by reason of�ny demand mnde by the f
<br /> �. o origina)Borrower or Bormwery successora in inleres�. Any forbeurance by Lender in exercising su�y right or remedy sholl
<br /> �• . � ��� � not be n waiver of or preclude the exercixc of uny right or remcdy. _
<br /> f 12. Successors and Assigns Bound;Joint and Several LiabOily; Ca-Signers. 'fhe covenants and agreements of _
<br /> ! �� ° �'•'' �� this Security Inswment shall bind und henefit the successors:uid asxigm of Lender and Bormwer,subject to the provisions
<br />,,.�� s �i, a• of Pruagruph 9.b. Borrower's covenants und ugrecments shnll t�c joint and xcveral. Any Borrower who ca-signs this
<br /> � Securiry lnstrument but does not execule Ihe Note: lul is co-signing Ihis Srcurity Instrument only to mortguge,grnnt And F"
<br /> � convey that Bormwer s intcrest in thc Propchy undcr�hc tcrms at this Sccuriry In.�rument:lbl is not personnlly obligated to �
<br /> - puy the sums secured by this Security Ins�rument;;�nd(c)agrcrs thul Lender und uny olher Borrower mny agree to extend, �
<br /> ` _ � • modify,forbeur or make nny accommaialions with regurd la the tertns of this Security Instrument or the Note without that �
<br /> , - � Borrowcrsconsen►. !
<br /> � ,�-� �• l3. Notices. Any notice to Borrower provided for in this Security Instrumenl shall tx:�iven by delivering it or by
<br /> : � ° mailing it by firxt clnss muil unlesti upplirvblc luw reyuires u�c uf;►nother methal. The notice shull be directed to the �
<br /> �;;^._.. ., Property Addrers or uny other uddrers Dorrower desi�nutcs by noticc to Lcndcr. Any notice to Lcnder shall bc�iven by �
<br /> . . "^`' • first class mui) to Lendcr's uddmss .tut�d he�-cin or uny addresx I.rnikr dctiignateti hy no�icc to Borrowcr. Any noticc r
<br /> ' ' provided for in�hix Security In�trumcnt shall ba�deemed tu huve t►ecn Fiven to H�irmwrr or Lendcr whcn�iven us provided !
<br /> • in this parngruph. r
<br /> . ° 14. Guverning Law; Severabllity. Thi,Seruriry Inti[rumrnt,hull Ik guverncJ hp f'rJrrul luw und thc luw af�he -
<br /> . ,•�� ' � jumdic�ion in which �he Pn�peny iti locuted. In�hc rvrn��hat uny prrn-i�ion or rlauu��t'this 5crurity Instrument or�hc �
<br /> , Nole contlicts with�pplicuble law, tiuch caMfl icl�hull nat attca ��Iher provi.ion+�if thi,Serurily Instrumrm ur�he N��te I
<br /> �` • which cun be givrn el'fer�wi�huut ihe ronflicting pr�wi�i�m. 'li�ihi.enJ th�rruvi.iun+��f thi+Seruriry Instrument und Ihr �
<br /> Note urc declarcJ to lx ticvrrublr.
<br /> '" 15. Burrower'c CopV. Burri,wcr,hall h�giv�n unc�untiimuJ cupy of Ihi�Srcurity In+trumcnt. �
<br /> •• � 16. AssiRnment uf Renls. Hi�rr��wrr un�unJit iunal ly a��i�n.anJ tran.fcr,tu Lrndrr all 1hc rrnt.s�nd revrnur+uf thr
<br /> , � Propcny. Borrowcr uwhuriicti I.cixlcr ar Lcn�lrr:agrnt,In c�,llcrt thc rcut+:md revcnur�aud h��rby Jirccls cach tcnunt of �
<br /> � thc Property to pay thc rcnt�to Lrnikr or Lcndcr; a�:cnt.. Huwr�•cr.priur�u l.rudrrti nuticr to liortuwrr of 8omrwcr�
<br /> • hroach of any rnvenunt or:►gmemrnt in the Securi�y In.�rument.Rcirr��wrr�h:ill c��llrrt and re�rivc all rcnt.:md rcvenues of
<br /> " --- 1FIC PIYIPI•I'IY ilti IN�IC�•(nr ihe txnetil ot'LrnJer and li��m»�-rr. Tlti�.i..iEiunrnl ul rcnt.ran�tiiulr�:m uh��,lute a�.i�nrrnnt '
<br /> � - . . ... . . . �
<br /> - -----_—-- '
<br /> -- — — ana na un u�x�gnmcm�or uamuona��ccunry nrny. °
<br /> ,. , If Lcndrr givr.nulicr ul�hrrarh 1��Hurrn��•cr: (al:ill rciii,nrrirrd hy liurrwvrr�hull Ix hrld hy Hurru��rr:i�Iru�trc
<br /> , For benefit uf Lendcr unly. tn Ik uF,plirJ��,il�e�um.�rcur�•�I h� �hr ticrurit�• In,lrumrnt: Ih� LrnJer tihall Ik cnliUrd ta ,
<br /> • collcrt unJ mrrive ull nl Ihc rrnt,of�Ihr I'ru�k n��:und ir►�•;��•h ien:mt ut thc F'ro�xrl�•.hall pa��nll rcn�.duc anJ unp:iiJ ia
<br /> ' ° Lender or Lendc�:ugrnt un LrnJrr',writtrn Jcmand�u thr Irn�uu.
<br /> , Burmwcr hu. nut cxcrulcJ amy pri��r �i�.i{��mnrnl ��f thc rrnt. and hu� nu1 :mJ �oill nut �xrl�orni :my act thnl �����uIJ
<br /> _. • �. _. . --,,--= Frll':'I!1[.�r,���r...���.�n�ri�in�.il�ri�.F�f�m�.L�r �lii. ll.�r•��f•��1� 1/.
<br /> Lcndrr�hsdl n�N Ix reyuircd li�rnlcr u�xm.I;�I.r runlrul uf ur maintain Ihr Pm�x•ny Ixtim ur:d�lrr�i�•in�; aulicr nl
<br /> Mreuch d� Hurtnwrr. Huwrvrr. Lcnikr ur a judiriull�� :q,pui�urd rrcri�•cr tn:n du ���al :m� limr Ihrrr i. a hrtarh. Am
<br /> aPpliculi��n uf rrntc,hall nut rurr ur��;���c am del:�ult u� m�alid:u�•:mt ulhrr ii�ht��r rcmrily nl LrnJri. �1 hi.:�..i�:nmrnt
<br /> of rent�of thc I'ni�xrty.hall trrniinatr whcn dic dchl.rrurrJ h�Ihr tirrunty In.trumrn�i.p:uJ in tidl.
<br /> �J
<br /> • 1�411'� ������41�'/'\1
<br /> I ' ,
<br /> �,; �� . I
<br />
|