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1 � �ol�oo�s� LTNIFORM COVENANTS. 1. Payment of Principal. Borrower shall pay when due the principal of the debt evidenced by the Note. 2. Bonower Not Released: Forbearance By Lender Not a Waiver. Extension of the time of payment of the sum secured by this Security Instrument granted by Lender to any successor in the interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successor in the interest. Lender shall not be required to commerce proceedings against any successors in the interest of refuse to extend time for payment of otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in the interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 3. Successors and Assigns Bound; Joint and Several Liability: Co-signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower. Bonower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does not execute the Note; (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sum secured by this Security Insmzment; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the term of this Security Instrument of the Note without that Borrower's consent. 4. Notices. Any notices to Borrower provided for in this Security Instrument shall be given by delivering it of by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borrower, designates by notice to Lender. Any notice to Lender shall be given by first class mail to: Department of Housing and Urban Development, Attention: Single Family Notes Branch, 451 Seventh Street, SW, Washington, DC 20410 or any address Lender designates by notice to Bonower or Lender when given as provided in this pazagraph. Governing Law: Severability. This Security Instrument shall be govemed by Federal Law and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of tlus Security Instrument f the Note conflicts with applicable law, such conflict shall nof affect other provisions of this Security Instrument or the Note which can be given effect without conflicting provision. To this end the provisions of this Security Instrument and the Note are declazed to be severable. 6. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument NON UNlFORM COVENANTS. Borrower and lender further covenant and agree as follows: 7. Acceleration: Remedies. If the Lender's interest in tlus Security Instrument is held by the Secretary and the Secretary requires immediate payment in full under the Paragraph 7 of the Subordinate Note, the Secretary may invoke the nonjudicial power of sale provided in the Single Fa.mily Mortgage Foreclosure Act of 1994 ("AcY') (12 U.S.C. 3751et seq.) by requesting a foreclosure commissioner designated under the Act to commence foreclosure and sell the Properly as provided in the Act. Nothing in the preceding sentence shall deprive the Secretary if any rights otherwise available to a Lender under this paragaph or applicable law.