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201304040 tii) and the Secretary makes payments to Borrower,then Borrower shall not: (i) Be required to pay amounts owed under the Note,or pay any rents and revenues of the Property under Paragraph 19 to bender or a receiver of the Property, until the Secretary has required payment-in-full of all outstanding principal and, accrued interest under the Second Note;or (ii)Be obligated to pay interest or shared appreciation under the Note at any time,whether accrued before or after the payments by the Secretary,a:ad whether or not accrued interest has been included in the principal balance under the Note. (d)No Duty of the Secretary.The Secretary has no duty to Lender to enforce covenants of the Second Security Instrument or to take actions to preserve the value of the Property, even though Lender may be unable to collect amounts owed under the Note because of restrictions in this Paragraph 13. 14.Forbearance by Lender Not a Waiver.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. 15.Successors and Assigns Bound;Join( and Several Liability. The covenants and agreements of this Security Instrument shall bind and benefit the successors and asigus of Lender. Borrower may not assign any rights or obligations tinder this Security Instrument or under the Note,except to a trust that meets the requirements of the Secretary. Borrower's covenants and agreements shall be.joint and several. 16.Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class snail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address all Borrowers jointly designate. Any notice to Lender shall be given by first class mail to Lender's address stated herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this Paragraph 16. 17. Governing Law; Severability. This Security instrument shall be governed by Federal law and the law of the jurisdiction in which the Property is located.In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or fie Note which can be given effect without the conflicting provision. To this end the provisions of th s Security Instrument and the Note are declared to be severable, 18. Borrower's Copy.Borrower shall be given one conformed copy of the Note and this Security I nstrti meimt. NON-UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 19. Assignment of Rents.Borrower unconditionally assigns and transfers to Lender all the rents and revenues of the Property.Borrower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs each tenant of the Property to pay the rents to Lender or Lender's agents. However,prior to Lender's notice to Borrower of Borrower's breach of any covenant or agreement in the Security Instrument, Borrower shall collet and receive all rents and revenues of the Property as trustee for the benefit of Lender and Borrower. This assignment of rents constitutes an absolute assignment and not an assignment for additional security anly. • Page 7 of 11 ltt•-C\1 First Deed 01 Trust