The URL can be used to link to this page

Home My WebLink About1517 \n~ a~,~,li~atiun ~~1 thr ~~ru~e~d. tu thc ~rinci~~al ,hall nut extend ur ~ust~on~ the due date ut the munthl~ pa~mcnt,, ~~hi~h .ur rrlr~r«f ~u in f',ua~c.?~h or ~hange th~ amot~nt ut ,uch pa~mentti. :1ny e.~~es, ~ru~~~r~ls u~~r an antount reyuired to :~II uut.tan~iinti inclehte~ine,~ un~ier the tiute and thi, Securit~~ Instnim~nt ~hall be 4;ciid tu th~ entit~ legall~ entitlecl theretc~. 8. F'ec~. l.rn~lrr ma~ rollr~t t~e~ and ~harg~~ authorized h~ the Secretar~. 9. (:rounds tor Acceleralion uf t)ebt. (al Uefault. L~ncler ma~•, e~cept as limited by regulations is~ued b~• the Se~r~tan in thc case of pa~~ment detault~, r~quire immediate pa~mcnt in full of all sums secure~l b~~ this Securit~• Instrument if: (i) B~~rro~~er def~aults b~~ failing to pa~• in full an~~ monthl~• payment require~l b~ this Securit~ lnstrument prior tu ur on the due date of the ne~t month{}~ payment, or lii) Bi~rro~~er defaults b~ t~ailing, for a Reriod of thirty da~~s, to pert~orm an~~ other ubligations contained in this Szcurity Instrument. X i . ( ~ (d) ReRulations oi HUD Secretar~~. In many circumstances regulations issued by the Secretary will limit Lender's rights in the case of payment defaults to require immediate payment in full and foreclose if not paid. This Security Instrument does not authorize acceleration or foreclosure if not permitted by regulations of the Secretary. 10. Reinstatement. Borro~+er has a right to be reinstated if Lender has required immedia~e payment in full because of I;~~rru~~er's failure to pa~~ an amount due under the Note or this Security tnstrument. This right applies even after toreciosure ~~ruceedings are instituted. To reinstate the Security lnstrument, Borrower shall tender in a lump sum all amounts required <<~ bring Borro~ver's account current including, to the extent they are obligations of Borrower under this Security lnstrument, ±,~r~closure costs and reasonable and customar}~ attorneys' fees and expenses properly associated with the foreclosure proceeding. ! E~on reinstatement by Borro~~~er, this Security Instrument and the obligations that it secures shall remain in effect as if Lender '~acl nut required immediate pa~~ment in fulL Ho~~~ever, Lender is not required to permit reinstarement if: (i) Lender has accepted ~~in~tatement after the commencement of foreclosure proceedings within tH~o years immediately preceding the commencement ~.~rrent foreclosure proceeding, (ii) reinstatement ~+~ill preclude foreclosure on different grounds in the future, or (iii) :~in~tat~ment ~~~ill adversel~r alfect the priority ot the iien created by this Securitv lnstrument. 11. Borrower Not Released; Forbearance B~~ Lender Not a V1'aiver. Extension of the time of payment or modification ~t amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower ,h:ill not operate to release the liability of the original BorroH~er or Borrow•er's successor in interest. Lender shall not be required t~~ ~ommenre proceedings against an~• successor in interest or refuse to extend time for payment or othenvise madify amortization ~~t the sums secured b~~ this Securit~~ [nstrument b~~ reason of an~~ demand made by the original BorroH~er or Borro~cer's successors in interest. Any forbearance b~~ Lender in exercising any right or remed}~ shall not be a~rai~~er of or preclude the esercise of ~ :i~i~ right or remed}~. ~ ~ 12. Successors and 4ssigns Bound; Joint and Se~eral I.iabilit~~; Co-Signers. The co~enants and agreements of this Securit~~ ' ln,trun~ent shalf bind and benefit the suce~ssors and assigns of Lender and Borro~cer, subject to the pro~~isions of paragraph E ~1.b. Borro~cer's co~~enants and agreements shall be joint and several. Any Borro~ver ~ho co-signs this S~curity Instrument ~ i~ut does not execute the hute: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borro~~er's ~ ~ntere~t in the Propertg~ under the terms of this Security Instrument; (b) is not personally obligated to pa~~ the sums secur~d ~ h~ this Securit}~ Instrument; and (c) agrees that Lender and an}~ other Borro~ser may agree to extend, modif~. forbear or make , an~ ar~ommodations ~~ith regard to the term of this Serurit~ Instrument or the Note ~~~ithout that E3orm~:er's consent. 13. \otices. An~~ notice to Borro~~•er provided for in this Security Instrument shall be gi~en by deli~ering it or b}• mailing i~ b~ fir,t class mail unless applicable la~~~ requires use of another method. The notice shall be directed to the Property Address ~ ~~r an~~ other address Borro~ver designates by notice to Lender. Any notice to Lender shall be gi~~en b~~ f irst class mail to Lender's ~ ~i~id~c,s stated herein or any~ address Lender desi~nates by notice to Borro«~er. An}~ notice pro~~ided for in this Securit}• Instrument ~hall be deemed to ha~e been giren to Borrower or Lender ~~~hen gi~~en as provided in this paragraph. ~ 1-1. Go~erning I.aw; Ser~erabilih. This Security Instrument shall be governed b}• Federal law and the law~ of the jurisdiction ~ ;n ~~hich the Property is located. (n the e~~ent that an~~ provision or clause of this Security Instrument or the Note ronfiicts ' ~~ith a~~?licable la«, such conflict shall not affect other pro~~isions of this Securit~~ lnstrument or the Note ~~hich can be gi~en r r~~iect ~cithout the contlicting pro~ision. To this end the provisions of this Securit}• lnstrument and the Note are declared to ~ he se~ erable. . ~ 15. Borruwer's Cop}. Borro~~er shall b~ gicen one conformed cop}~ of this Securit~~ Instrument. ~ ~ 16. Assignment of Rents. Borro~ser unconditionally assigns and transfers to Lender all ihe rents and re~enues of the Propert~~. = E3orro~~er authorizes Lender or Lender's agents to collect the rents and re~~enues and hereby directs each tenant of the Propert~~ <<~ pa} the rents to Lender or Lender's agents. Now~e~~er, prior to Lender's notice to Borra~~~er of Borro~+er's breach of an~ :u~enant or agreement in the Securit}~ Instrument, Bc~rro~~er shall collect and recei~~e all rents and re~~enue~ of the Propert~~ a. t:ust~e for the benet~it of Lender and Borro~~~er. This assignment of rents constitutes an absolute assignment and not an .~,sienment for additional secarit~~ onl}•. If Lender gives notice of breach to Borro«~er. (a) all rents recei~~ed by BorroHer shall be held b~~ Borro~~~er as trustee for hrne(it of Lender onl~~, to be applied to the sums secured b~~ the Securit>• (nstrument; (b) Lender shall be entitled ro collect and recei~c all ot' the rents of the Property; and (c) each tenant af the Propert~~ shall pa~• all rents due and unpaid to Lender ~~r Lendcr's agent on Lender's ~~~ritten demand to the tenant. ~ Borro~cer has not eKecuted an~~ prior assignment ot~ the rents and has not and ~~ill not perform an}~ act that ~+ould pre~ent ~ I~nder from erer~ising its rights under this paragraph 16. 6 ~ Lender shatl not be required to enter upon, take control of or maintain the Propertg before or after gi~~ing notice of breach ~ !u Borro~~er. Ho~ce~er, Lender or a judicially appointed recei~~e~ may do so at any time there is a breach. Any application ~ ut rents shall not rure or ~~ai~e any de`ault or invalidate anp other right or remed}~ of Lender. This assignment of rents of the Pro~~ert~~ shail terminate ~shen the debt secured b}~ the Securit~~ Instrument is paid in full. i~uz~~ ? .r 600K ~ ~ ~ - _ ~ ~ s~ _ ;.sxr~~ . - ~ - ~