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<br /> poymenta. which wrc rofemed to in P+uagrnph 2,or chenge the amount of Fuch naymerHa. Any ezcexx pnxeeda aver an _
<br /> wnountrequircd to pay�If autswidin�indeMedness under the Note rnd thls Su�iry lnawment 9ha11 bc paid to Iiu antity
<br /> "'" � k�ally entitled thercto.
<br /> .. B, Reea.l,cnder may collect fces and chargea authorized bY the Secretory.
<br /> 9. Ground�for Accekradon o�Ikbt.
<br /> (a)Det�ult. Lender mey,except as limited by regulations issued by the Secretary in the case of payment defaults, �
<br /> Y',,.' requiro immediotepayment in full of ell sums�ecured by this Sesurity Instrumem if:
<br /> (i)Borrower defaults by failing to.pay in full any monthly puyment required by this Suudty Inawmenl prior
<br /> , to or on the due d:ta of tha next monthly puyment,or
<br /> ,� � (ii)Borrower defeulls by fAiling,for a pedod of Ihirty days,to perfam any other obligations contained in this
<br /> . •;v�-. ,,,1� � :�.�. Security Insmunent.
<br /> ,,,�, (b)Sak Without Credit Approval. l.ender shall.if pern�itted by applic�ble law und with the prfor approval of the
<br /> _---.";��'��""�;`•.:�•w,,:� •, Seci,ewry.require immediate payment in full of all the aums secured by t4is Secudty Instrument if:
<br /> _:���"'"- - (i)All or part of the Property.ar a beneficiul interest in a tnist owning all or purt of the Praperty.is sold or
<br /> ��,�L,_f__ �� olherwise transPerred(other than by devise�r descent)by the Borrower,und
<br /> - �; �:.�:;-- (iq Tha Property is nat occupied by the puce baserhi or�heracrediiahas nat cbPeen�appro ed inhn cordunce _
<br /> �"�'� or grantee dces so cecupy the Property
<br /> '�"'��"`"'"�`�`�"•"'"X` with�he requirements of the Secretary.
<br /> —�V�i��.� (c)No Waiver. !f circums�ances occur that would permit Lender to mqalrc immediate puyment in full,but Lender
<br /> ��-, ,,., dces not requia suchpayments,L.ender does not waive ita rights with resp�ci to subsequent events. �
<br /> -..:..:�.� ��_r��:.":•:'.`•:�.�'"s (d)Re�uladona oiHUD Secretary. In many circumstancea regulatfonsfssued by the Secretary will limit Lenderk
<br />- ` ,� � � rights,in the cuse of payment defaults, to require immediste paymen� in full und foneclose �f not paid. This 6
<br /> • i'"'�"`°'���;;;'"� Security lnspvment dces not authorize acceleratien or foreclosure�f not permitted by regulutions of the Secretery.
<br /> '�'„''i!�!:'`;'...,.< �;
<br /> ���`r� -"� •� •� (e)Mortgage Not insured. Borrower ugrees thpt shoutd this Secu�iry I�se�ument and the note secured thereby na
<br /> a , from the
<br /> �, � • be eligible for insurance under the National Houaing Act within 8 �nont hs __
<br /> ' '= • ''`�'''•°r•;jw date hereof,L.ender may,at its option and notwithstanding any�hing in Paragraph 9,require immediate�+syment in
<br /> .. �; . • " full of all sums secured by this Secu�ity Instrument. A wiitten statement of any authorized ugent of the Secretary
<br /> � � • dated subsequent to 8 mont 11s from Ihe date hereof,declining to insure this Saurity
<br /> h - —
<br /> . • • Instrument end the nate secured thereby,shall be deemed conclusive proof of such ineligibility. Notwithsumding _
<br /> � •� �" the faregoing,this option may not be exercised by Lender when ihe unavailnbility of insurance is solely due to
<br /> �°� Lender's failu�e to remit a mortgage inaurance premium to the Secretary,
<br /> �� �+. " �__� 10. Relnstsitement. Borrower has a r ig ht to b e re ina t a t e d i f l.e n d e r h a g r e q u i r e d i m m e d iate pa yment in full 6ecausc _
<br /> - , - = _= af Borrouer�s fsflure to pay an pm�unt due under the•Notc or thia Secudty Instrument. This nght applies even after —
<br /> ' �''�� foreclosure proceedings are instituted. 'Ib reinstate the Security Ins�rurnent.Borrower shafi cender in a iump �w�� �It
<br /> � " '� amounts required to bnng Borrower's account current including,ro the exten� ihey are obligations of Borrower under this
<br /> � ° Security Insuument,foreclosure cogts nnd reasonAble and customary attorneyc'kes und expemes properly associated with
<br /> " the foreclosure praceeding. Upon reinstatement by Borrower.this Security Ins�rument und the obligations that it secures
<br /> " - � `' shall remein in effect as if Lender had not rcc�uired immediate puyment in full. H owcver, Lender is not required topermit
<br /> reins�etement if: (t) Lender has accepted reinstutement after the commencernent af foreclosure praceedings within two
<br /> ��' � � years immediately preceding the commencement o f n c u r r ent foreclosurc pioceedin g, (iil reinstalement w�ll preclude
<br /> • ' . .� :�� •� fnreclosure on differ+ent grounds in the fuwre.or(iii)reins�Atement will adversely affec�the prioriry of the lien created by
<br /> " . lhis Security Inswment.
<br /> . �. .. • '���.� 11. Burrower Not Released; Forhearance by Lender Not a Wolver. Extension of the time of payment or
<br /> „, • :r� modification ot umonizution of the sums secun�d by this Security Instrument grneed by Lender to uny guccessor in mter+est
<br /> �; , . ' . _,�;_.._.. of Borrower shull not opemte to releuxe the linbility of the originul BaROwer a Borrower's succcssor m interes�. Lender
<br /> ; � ahall not be requircd to commence praceedings uguin�t uny succe�sor in interest or refuse to extend time for payment or
<br /> �� �� utherwir,e madify amortixution of the sums secured by thiti Security Instrument by reacon of uny demand mude by the
<br /> ��� �. . � original Bortower or Borrower s successon in interest. Any forbeurance by Lender in eaercising any right or remedy tihall
<br /> +* .• not be a waiver of or preclude the exercixe af uny right or rcmedy.
<br /> �" ° 12. Successors and Assigns Bound;Joint end Several Liability;Co-Sl�ners. The covenunts and ugreements of
<br /> -:�naa �
<br /> i � •• y; , this Security Instrument shall bind and benefit the sucretixon und ussigm�f I.�nder und Borrower,xubjc:ct to the provisions
<br /> +.' ° of Parngraph 9.b. Borrower's covenunts und ugreements xhull be joint und sever+�l. Any Borcower who co•s�gns this _
<br /> - ' �� � Security Instrument but dces not execute the Note: (u►is cu-�igninb this Security Intit�ument only to mortgs�ge.�runt and _
<br /> � �• .• convey that Borrower's intere.�in thc Property under the tcrms of this Security Inxtrumen4(b)is not penonally obliguted to
<br /> � � pay lhe sums securcd by�this 5ecurity Instrumcnt:und(r)agrces thut Lender uid uny o�hcr Borrower muy agree to extend. �
<br /> modify,forbeu. or muke uny uccommodutionx wi�h regurd ro 1he terms ot'thi. Security Instrument or the Note without that
<br /> � ?� Borrower'.s conscm.
<br /> `' •• � 13. Nolices. Any noticc lo BoROwcr providcd fur in this Sccurity In�tnment shull be given by delivcrinb ii or by
<br /> ' � " muiling it by�rst cluss mail unle+s upplicuble luw rt:yuires u�e of unother nxthai. Thr notice shull lx directed to the
<br /> • • • property Addrers or i►ny ather uddresti Borr��wer dcsi�nutcs by nnticc to Lenckr. Any neitice to Lcnder shull be �iven by
<br /> � . ''F`°'' fint class mail to LenJer: nddrc,s stuted hcrein ur uny adJres� LrnJer Je�igna�es by notice to Borruwer. Any notice
<br /> ' provided for in thix 5ecurity Instrumenl�hull he dccmcd to huvc Ixcn givrn 10 Notmwcr or Lendcr when�iven ns provided
<br /> � ��. " % in this pttrugraph. gm•cmcd hy Frderal luw und thr luw of Ilx
<br /> � �, 14. GoverninR Law; Severability. Thi, S�curily Intilrumrnt .hull he _
<br /> jurisdiction in whirh Ih� Pro�xny i+Icxatcd. In ihe cvcnt tha�:my pr�w i.ion nr rluu.e ut'thi. Seruriry M�trumem or the F
<br /> . � Note contlic�s with :�p�lirable luw..uch contlict �hall n��l al'fcci u�her rrovi�inn�u(thir Sccurity In+trument ur tlx Nute E.
<br /> ,_ " which cun be given cftect without the contlirting provi.ion. 'li�thi.rnd thc rn�v i.iom uf thi+Srruriry Instrument anJ Ihe !.
<br /> NMe iue d��clared lo be xcvcrublc.
<br /> � � -� �' 15. Borrower's Copy. Burrowcr,hal l Ix�rvcn onr canii�m�cd ropy ul t hf� ticcuniy In.�rumcnt. E
<br /> 16. Asvi�nmenl oP Rents. B��RUwcr unconJiti��n.dly as,i�n.und tran,t'en[u LrnJrr:ill Ihc rcntti anJ rcvcnue�ot'ihr F
<br /> " . properly. Borrower•ruth��riir+l.endcr ur Lcndrr'.uErnt+to ci�Ucrl thc rcnt�unJ revrnuc�:mJ hrmby direru curh tcnant of �
<br /> , the Prop�:rty to pry thc r�n���o LrnJrr ur Lcndcr;:i�:rnts. Flu���rvcr.priur tul_rndrr�noticr to Rorc���vrr af Bum�wcrti F
<br /> breach of uny rovenant or agrcrmrnl in thr Serurily Intitrum�nl.Rurru��•rr yhall a�Ucct un�l rcrcivc all rcnt+and mvcnu�ti of �
<br /> .wd o..,....,...,4. ���.�...•Ynr Ihr Ix•nrli�nf Lendrr anJ Burrawcr. 1'hiti u..i�mnrni iif rcntti run.tilutc+:m uhsolutr as,ignmcm E
<br /> _.--- ' — �r— — — .�.......r....�_. ..--•-- ._. ..
<br /> ' unJ not an atisignmcnt for addi�iunal,rcuriry unly. [
<br /> ' ` „ If Lendcr givcs noticc„1 F+marh to 8nnuwrr. la►:►II r�nt�rcrrrv�J hy li��rr<m•rr tihall Ix hrld hy B�ttrowcr .�,Iru,l�r ,
<br /> ... �� . tiir tienetit of Lrixler only. t��Ixx applirJ t�,Ihr >um��rrund hy thr tiirurit�I►i,irunknl: lbl LrnJrr ,h;�ll tx rntidrd ta
<br /> cnllect und mrcive ull ol'�hr ren1,ol'the I'ru�xrty::�nil irl each trniml��t'�he 1'ruF,riq• tihuU pay all rcnt�Jur anJ unp:�id lu �
<br /> . Lendcr or Lcnder's a�cnt un LenJer��vriuen drmnnd to thc trnant. �
<br /> ' Hormwer has �wt rxcrulyd nny prirn• u+.i�;nmrnt uf thr rcnl� and h:i, n�� an�l ��ill not perliimi any art th;U wuulJ
<br /> ; prevent Lcnder from cxrrci�in�;it.rigNt�undrr�hi.l'aragraph Ih.
<br /> '•�� .. Lcndcr�hull nat Ix RyuircJ li�cnter upnn.�ul�r cunuul of ur mainiain Ihr I'ru�xn�• Ixtinr or af�rr Eiving ix�tirr uf .
<br /> breuch to Burcc�wer. Ibwevrr. Lrndrr ur a.�udici:dly ap�x�inl�d rerei��r m:fc�fu,a ai :my time thrre i.a hre:�rh. Any
<br /> " �• ' upplicatiun of rcnls shall nut rure ur��•:iivc aii�•drl:mli�x im ulid:ur any �ahrr ii�lil ur rcmrdy uf I.rndrr. 'I'hi.a..ignmcnt
<br /> �. �4� of rems of the I'roperly shull trrminutr whrn Ih�dcht tircurrd hy thr Scruriq•lu,�runi.m i,p:iid in IuIL .
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