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<br /> p�}nnenta,which w�e�efrned to in P�rograp� 2,nr chnnge thc anwunt of such payments. Any excess proceeds over an
<br /> - amountrequirod to p�y all outeu�ndlag indebtednerx w�der Ihe Noto and this Secunty InsWment�twll be paid to thc entity
<br /> - k�aUy entitled thercto.
<br /> . 8. �, l,cndermay collxt fas and chur�es auttwriud by the Secrctary.
<br /> "�' 9. Groued�tor Aceekr�tlon ot Debt.
<br /> . -._ _- _
<br /> ``T (�)Detaul� l.ender m�y.except as limited by reguladon3 is�ued by�he Secre�ry in th@ ca�c uf payment defautts, !-
<br /> �� roquire immediau p�yment in full of all sums cecurcd by this Securiry insuument if:
<br /> .Aa " (i)Borrower defauUs by failing to p�y in full any monthly payment rcquircd by this Securlty[nsirument prior
<br /> to or on the duc date of the next monthly payment.or
<br /> (ii)Borrower defaults by f�ilin�,for a period of tAiny days,to perfom�any o�her obligarions cont�ned in this
<br /> Secutlty lnsdumen�
<br /> -- _--- ---_ (b)S�le Wft6out Cred(t Appcovnl. Lender shall,if pem�itted by applicable law smd wid�the prior approval of Uw
<br /> -�� :��;� Secretary,requin imme�iwe payment in fuU uf all ihe swns securd by this Securiry lnsavmcnt if: -°-
<br /> All w part of the Propetty or a beneficial interest in a trusl owning all or part of tha Property, is snld or
<br /> _- - �-=,� otherwise transfemd(othe- r than by davlse or descent)by thc Barowe�.and _^
<br /> �-�^�� -- (ii)The Properiy is nat 000uQied by ihe purchaser or grantee as his or her princfpal residence,or U►e purchaser
<br /> ���,�,;:�'r� or giantee does su occupy the Propeny but his or her etedit has not been approved in accwdance
<br /> - with the tequirements of the Secrewry.
<br /> _�.__... (c)No Walve� If cinumsiances occur that would permit Lender to rcquire immediace payment in full,but Le�er
<br /> �.�;-:,':'�==yy"�� does not requue suchpay ments,Lender does nat waive its rights with respect to subsequent events. �_
<br /> " �`�Y'.4':;+.�•��` .. (d)Re�ulrNaa�s ot HUD Secretary. ln many clrcumstances regulations issued by the Secre[ary will limit Lender�
<br /> _ ' `4�: rfghts, in the case of payment defaults,tareq uire immediute payment in full and toreclase if notp�ud This --
<br /> . ::•.' �'' •- •�' �" �• Security Instrument does not au�ho�ize acceleratiun or foreclosure if not pertnitted by regulations of the Secretary.
<br /> ���:�,4.. �.. —_
<br /> _ " � (e)Mortgage Nd Insured. Borrower agrees that should this Securiry Inswment and the note secured thereby nat =__
<br /> ��;�'`�;-ut_�`R be eligible for insurance under the Nntional Housing Act within �� _
<br /> date hereof,l.ender rnoy.nt its option and notwithsianding unything in Paragraph 9,require immediate payment in �
<br /> � 'r,.'`'��'�.�`'�;� full of all sums secured by this Socurity Inswment. A written statement of any authorized ngent of�he 5ecretary
<br /> __. ° r t��`�kL�'�, - ��5������� from the date hereof.declining ro insure this Security -
<br />' " � lnstrument wid the nae secured thereby,shall be deemed conclusive proof af such itieligibility. Notwithstunding
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<br /> -. «.,;, - the foregoing,this option muy not be eaercised by Lender when the unuvuflability of insurom^e is solely due to
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<br /> � L,ender�s failune to remit u mortguge insurance premium to the Secrewy. _ ,
<br /> `^— � !4. !3ela�astcnxat, Bixr!►wer haa a rigM u�he reinsinted if Lender 1� reqwred immediate payment in full because
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<br /> ,' ��� -•� of Bormwer�s fuilure to pay an omount due under thc•Note or this Securiry Instivment. This right applies even after
<br />_.g" _�,�bY�Rsl,i:riM foreclosure proceedings ure instimted. 'Ib rcinstate the Security Insuument. Borrower shall tender in t� lump sum all
<br /> emounts required to bring Borrower's uccount current includiog,to the eatent they are obligations of Borrower under this
<br /> - . Security Instrument.foreclosure cost�and rensonuble and customary anomeys'fee� and expenses properly ussociated with
<br /> _ . .""'°� the foreclosure proceMiing. Upan rcinc�atement by Borrower,this Security Inswment s�nd the abligt�tians thnt it secures
<br /> � shall remain in effect as if Lender had not reyuired immedinte payment in full. However.Lender is not required to�ermit
<br /> '.,�., reinstatement if: (i)Lender Iws xcepted remstatement after the commencement of forecloswe proce:dings withm two
<br /> <- •. • yeara immediately preceding the commencement of u curtent foreclosure praceeding, (ii) �einstatement will pn�lude
<br /> � b°" � foreclosure on different goounds in the future,or(iii)reins�etement wlll adver�ely affect the priority of the lien created by
<br /> ,.' " ° � �his Secutity lnsuument. -
<br /> "' 11. Borrower Not Released; Forbearance b� I.ender Not A Walver. Extension uf �he time of payment or
<br /> �i .,,,. . � madification af cunonizauon of the sums secured by this 5ecuriiy Insnvment grunted by Lender to any successor m interest
<br /> - =µ-��� L�r•= of Borrower shnll na operote to release the liabilitv of the oriRinal Borrower or Borrowers�ucces.+or in intere�t. Lender =
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<br /> �.,. , shull not be required tu commence praceedings ug�inst anY successor in inlerest or rcfuse to extend time for payment or
<br /> ,��� .. .� , otherwise madify amortixution of the sums secured by this Securi�y Instrumem by reason of�ny dem;u►d mude hy the �.-
<br /> �a � � _. .. original Borrower or Borrower's• successors in interest. Any forbearance by Lcnder in exercising any right or rcmedy shall
<br /> ! not be a wniver of or preclude the exenise of uny right or remedy. __-
<br />. ' "�'• • ��,; p 12. Successors and Assigns Bound;Janl�nd Several I.iability; Co-Signers. Thr covenant�und ugreements of
<br />� ' � �his Security Inswment shall bind and benefit the auccessors and assigns of Lender:md Bortower,subject to the provisions
<br /> .. „ of Auugraph 9.b. Bortuwer's covensuns und agreemenu shall be joint und u:verrl. Aoy Bortower who co-s�gns this -._
<br /> .. Serurity Instrument but does not execure thr Nae: (u1 is co-signing this Se�urity In�irument onty to mortgAge.g r.mt and �'
<br /> , +::,,,_! conve�that Bomawer�s interrst in�hc Propeny w�der�he terms of this Security Instrumcnt;(b►is not personally obliguted to
<br /> ' 1�:-d"" . "" � � ° pay the sums secured by this Se�;urity In.trumenC und(rl agrocs that Lender and wiy oth�r Barrower muy�gree to extend. -
<br /> ' �. :,�;;;,� modify,forbeur or make uny acrommadutions wilh regard to the trm�s of this S��curity Inxaument or the IYote without�hut
<br /> � �. - Borrower�consent. -
<br /> �ii}a• `•' l3. Notices. Any notice to Borrower provided for in �his Security Instrument shull be given by delivering it or by
<br /> g . .. f!• muiling it by tint class m;ul unless applicable luw myuircs use uf unothcr me�h�i. Tlie nutire shall be directed to the
<br /> - �� Propeny Address or any other uddresti Borrower de.iFnates by notice M l.endre Any notice to Lender+hall br givrn by
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<br /> , first class mal to Lender's add.�rs, .tated hrrein or uny udJn.• LrnJer Je.ignatr.by nmirc to eorn�wer. Any notice
<br /> .. ' � � �mvided for in this Sccurity Instrument+hall be�kemed to huvr bc�en Fivrn to Hurn��vrr��r Lender when given us pruvided
<br /> m this pamgraph. -•-�
<br /> �� i4. (:overning Law; tieverabilitv. Thi.Seruriry In.trumrnt�h�ll tx gu�rrneJ b� FiJrr.�l luw and the law of'thr —
<br /> � juri,diction in which the Pn�perty is I�xatrJ. In thr event that am•pru�•i�ion ar rl:w.c uf thi.Serurity In�trument ar the �
<br /> . .�e Note conf�icts with ap�licablr la��•,sunc�onflict�hall not affrct cithrr provi.iam ui Ihi�Se�urity Imtrumrnt vr Ihr Note
<br /> • ' which c.ui be given eltect witimul�hr conflicting prw i,iwi. Tii thi.�nJ Ihr pru�i�iun�uf Ihi�Sccuriry Imtrumrnt und thr �_-
<br /> ' , Note are dedared to i+c.c�•rrable. ��
<br /> ° • ' • 15. Borruwe�'s Cap�r. Rnrn�wer.ha{I Ix�:iven oar c�,nfurnud rupp uFthis S�curit� In.trument. -_
<br /> � 16. Assi��ment of Renls. Borniwcr unro�xlitionall�a�cign.anJ tran+trn w l_cnJrr all thr rcnl�:md revrnues of th� -
<br /> Pit�perty. Borrowcr authorii.�Lender or Lrnder:a�,ent.to rull�rt thr rcnt�and rcv�nueti and hrrrhv dircrt.rarh Irnant uf
<br /> the Property to pay 1hc Rnts to Lendcr ur Lrndcr� u�rnt+. Hi���•e�er,priur t.� L�n�rr: nutice tu Bom�Nrr uf Burruwrr:
<br /> _ �--,_,1. . __ hn�su•h of anv rnvencmt nr avm��ment in Ih�•G•rorilv In�trumrnt.Rum�wrr chrl l�nll�cl:utd rccrrvr all renl�:utJ nvenues of
<br /> - - - --�- the Hopeny�a�truster tor thc be�iclit of Lender anJ Hurc����cr. Thi.a,+iEnment of rcnt.ron,utwr�an ahu�lutr u��i�tnmcnt -
<br /> - _- ��-�±, � _'.� nnd not an u.��¢nment t'or uddi�ii�nal.ecuritv unlv. �.:
<br /> - - " .- - •• If Lrnder givrs nutirr i�f brearh tu B��rru��er: la1 aU rent.rcrrivrd by Born��vrr�hull t+r hrlJ by Burru��e�a.tru.R� r
<br /> • - ' fur benefit uf LenJer only,tu ik upplirJ tu thr.um�.ecur�d hv �hr Scruntv Imtrwnrnt:lhl LrnJcr sh;dl hr �ntidrJ to �
<br /> " collert and receive all uf the mn¢�of the Pro�rty:and lrl each trn;►nt uf the 1'rnp�tt��hull pa�•ull rcnts Juc and unpaid tu
<br /> • Lender or Lrnder:ugrrn on Lrnder:w•rinrn drman�l to thr trnant. �
<br /> � � Bortuwer hus not ex�wut�tii :my prii�r a..ignment uf the mnt.unJ ha�nut and uill nut �xMi�rn� ;uiy art th�t wuuld
<br /> •� •• . prevent Lender fn�m exerci.in�t it.ri�:ht.ur�der thi.1':rcagr�ph I b.
<br /> .� o- Lender shall nat tx reyuucd lu rntrr uEx�n.tal.r cur�rul��f ur mamtuin thc 1'r�qtirt�f+�ti,re or aftrr givin�,nuticr uf �
<br /> " breuch tu Burro��er. Huwever. LenJrr��r a juJiciaU� :ip�x�inted nti�ivrr may du .0 at any timc thcrr i. a hrrarh. Any '
<br /> „ •� . application of nnts,h�ll nut cu�ur Waivr wi� Jet'uult ur im alidatr am uther right ur nnteJ) at'Lrnd�r. 7'hi.u�.i�;nment �
<br /> ° uf rcntz of thr F'rupeny shall tem�inatr when the debt+e�urcd by thr tiecurit}�In.trwnrnt i.paid in full. � .
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