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��14�4553 . the F�rst Note because�f r�s�ricti ons Yn th�s Paragraph 13. � (e�RestrYctYons on Enforcement.Notw�thstanding anythzng else in this Secur�ty Instrumer�t,�he Borrovc�er shall nat be obligat�d to c�mp�y v�Yt�i the c�venants hereof, and Paragraph 19 sha��have na force and effect,whenever�here is na ou�s�anding balance under the Second No�e. � • L 1�. Forbearance by Lender Not a'�Vaiver.Any forbearance by Lender xn exercising any right or remedy s]�a11 not be a v�a��er of or pr�clude the exercise of any righ��r remed�. � 15. Successars and Assigns Bound; Joint and Several Liability.Borrovver may nat assign any rights �r abl�gations under this Secur�ty Instrument or the Second Note,�xcept to a trust that meets the reauir�rnents of the Se�r�tary. �orrovver's co�enants and agreements sha��be j oint and several. 16.Notices. Any n�tic�to�orrovver provided for Yn this Se�urity Ins�rument shaXl be gzven by delivering it or b�mai�ing it�y first�lass mai�unl�ss appiicab�e Iaw r�qu�r�s use af anoth�r m.ethod. T�ie nfltice shal� be directed to the Property Address�r any ather address a11 Borro�ers j oxnt�y desig;nate. Any notice to�he Secretary shal�be given by f rst class mai�t�the HUD Field�ffice with jurisdictian o��r the Pr�per�y or any other address desxgnated by the Secretary.Any not�ce prov�d�d for in th�s � Security �nstrument shali be deem�d�o have been given to Borrower or Lender when given as provided . in thrs Paragraph 16. 17. �vvern�ng Law; Severability.This Security Instrument shal�be governed b�Federai�aw and the � �avv af tl�e jurisdiction�n which the Proper�y is located. rn the event that any provis�an or c�ause of th�s Security �nstrument ar the Second Note confl�cts�vith app��cable Iavv,such conflict shal�not affect ather provis�ons of th�s S�curity Instrum�nt or the Second Nvte whx�h�an�e given effect Without the conflicting prav7sion. To this en�the pro�is�ons af this Security Instrument and the Second Note ar� � � declared to be severable. ° 1S:Borrower's Copy. Borro�ver sha�� be given one canfarmed copy�f the�econd Note and this Security Instrument. N�N--LJNIF�RM�4�ENANTS.Borrow�r and Lender covenant and agree as follows: 19.Ass�gnment of Rents.B�rr�v�rer uncond�txonaliy assrgns and transfers to Lender a�l the rents and �. re�enues�f the Proper�y.B�rro�rer authorizes Lender or Lender's agents t�collect the r�nts and reWenues and h�reby directs each tenant of the ProperCy to pay the rents to Lender or Lender's ag�nts. Howe�er,prior to Lend�r's nflti ce to B orr�v�er of B arrower's breach of any covenant�r agreement in the Security�ns�ru��nent,B�rrawer shall callect and rece��e aIl�ren�s and�revenues of the Property as trustee for the benef t of L�nder ar�d Borrovver. This assign�nent�f rents constitutes an abso�ute assignment and � not a assignznent for add�tinnal security�nly. �� . �f Lender gives n��ice of breacl�to Barrower: �a}a1�ren�s rece�ved by Borrower shail be held by Borrower as�rustee for�enefit of L�nder only,to b�applied t�the sums se�ur�d by thxs Secur�ty �nstrument; �b}Lender shall be entitled to collect and rece�ve alI af�he rents of the Prope�-�y; and�c} each tenant of�l�e Pr�per�y sha�l pa�a1I rents due and unpaid to Lender or Lender's agent on Lender's written demand�a t��e tenant. • _ Barrower has nat e�ecuted an}�prior ass�gnment of th�rents and has not and wi�i nat perfarm any act . �hat would prevent Lender fro�n e��rcising its righ�s under this Paragrap�� I9, e�cep�as provided in th� . First Security Instruzr�ent. � ,,j ;� . Pagc 7❑f l I HECM Second Deed�f Trust