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<br /> (r)Aetwlt,Lcnder m�y.r<:rept as timited by re�ulxtions issutd by thr SecrNary in�he ca�e of payme�t defauits, �equirc
<br /> tmme�iiau paymenl in full of all sum�stcured by thi�Securiry lastrurnent if:
<br /> � (i)Bortarrer def�ult�by faiUnj to p+�y in full$ny monthly paymc8t requfred by this Secutity Instrument prior to o�on
<br /> ehe dus d�te at the neat monshly payment,ot
<br /> (ii)Sorrower def�ults aY(�lin�,for a period oP thtrty days,to prrform any other o�li�atians contained in cAis Security
<br /> Inurument.
<br /> (b)S�k Wiliwi(.5�+�t 11�ewd.i�ender sl►att.if pt�niacd�l'�piicatsie G►w and with tie prior appROVaf af the Secrctary.rcqulrc
<br /> immediMe p�ymemt io full of all tbe sw�s socurod bY thl�Saew�iry imtnuncnt if:
<br /> (i)All a p�r!of ihe P�oQerty is otberwix trwferted tother thu�by deviee or descr�Ml Dy t�e Rormwer. �nd
<br /> (ii)The Prope�ty�s�ot oa�ipied try the purriwer or Yranloe�Ais a Ber prLnaty or seconctary resideaoo.or tIx p�u+chuer or
<br /> panbe doa so oavpy the Property but hn or her credK h�s not�eat appru�vod in a000�d�noe witl�tAe�equirements of the Soc�sury+.
<br /> (e)lW W�1wr.lf clrcuc+.�tanca occur that wouid permit Lend:�to requlre ieunediate p�yment in fuil,but Lender does not
<br /> roquire such p�y�aerds.Lender does not walve its riYhts with rcspect to subsequent events.
<br /> (�)�{�YIM�s�f HUD 9�eisitry.Ia maay circumstaACe�reaulatiuns issued by the Secrctary will limlt Lender's ri�hu.in
<br /> the c�e of p�,yment dehults.to require immedi�te p�yment in fuU and foreclose if not p�id.7'hi�Security Instrument does
<br /> aol authoriu ac�ekration or foreclosure if not permitted b,y reguluions of the Secretary.
<br /> �, R�YM�IwN. Borrower has a ri�ht to be rd�stated if Lender has required immediate payment in fuU because of
<br /> Hotruwer's failurc to p�r an amount due under ttx Note or this Security Instrumeat. This dsht applla evea after forcclasure
<br /> �raoeedlnp ue iauitutod.To reinstate the Security In�trument. Borrower shaU tender in a lump sum all amounts required co '
<br /> brin�Horrower'e�ccount currrnt iacludin�. to the extent they ue obli�atlons of Borrower unde�this Security Inatrument.
<br /> foraclo�ure cost� aed rasonabk �nd customuy attorney's fas and expenses properly associated with the foreclosure
<br /> prooeedins.Upou rc�nststm�ent by Borrower.lhls Security Instrument and the obligadons thtt it secures shall remdn in effect as
<br /> if Lender h�d not required tmenediate paYment in fuU.Howcver,Lender is�ot required to permie reinstatement if:(i)4en�ier has
<br /> accepted reiastatement after the mmmencem�nt of foreclosure proceedinas within iwo years immediately precedIn� the
<br /> commeacenxat of a curnnt toreclosure proeeedin�. (ii) reinstatement will preclude forecloswe on diiferent grou�d�in the
<br /> fature�or(iii)reinstatement wiU advetsely aEfc�t the priority oi the lien created by this Security Instrumens.
<br /> 1L Mrnw�er Not Rekwi; Fo�ace 117 Le�der Nol ■Walves, Eatension of the time of payment or modi�cation of
<br /> anwriization af the sum�securcd by Ihi�Security Instrument gnnted by Lender to any successor in interest of Honower shall aot
<br /> operate to reiwe the liaOiUty of the arislnal Borrower ar Borrawer's successor in interest. Lender shall not be reQulred to
<br /> commence prooadln�.s a�ainst any succtssor in interest or refuse to e�tend time for p�yme�t or otherwise madify amonization
<br /> of the aums secured by thu Security lnstrument by rason oP any dcmand m�de by the origirwl Horrower or Borrower's �
<br /> succasors in interest. Any forbeatance by Lender in exe�cising any right or remedy shall nat be n waiver oP or pre�:lude the
<br /> euercix of u�y ri�ht or remedy. �
<br /> - � lt,S�ea�s�A��D��l;Joi�t aM Sevenl[.I�bWty;Co-Sl��en. The cavenAnts and agreements o1 thts aecunty • �-
<br /> Iastnunent ahall bind and bet►eft the saceeswr�and atssi�ns of Lender and Bortower.subject to the provisions of pua�raph 9.b.
<br /> Horrower's caven�nta and sjreements shsll be joint and several. Any 9orrower who co-sign�this Security lnstrument but does
<br /> �.,r�,.e���tv�c��ra��co=sirnina this Security Instrumeni oniv t4 mort�tsute,�nc and comey that Borrower's interest in
<br /> the PropeRy nndtt the trnns of this Serurity lastrwrerat:(b1 i z o�.e pe�sflnally abllsatcd to pay tht stuns securtd by this Security ;f:.
<br /> Instrumrnt; and 1c) ajrea that Lender and any other Bormwer r^�y egra to extend, modify, forbear or make any .
<br /> accommodations vrith rc�ud to the term of this�ecurity Inst�.�ment u, �he Note without that Borrower's consent. -
<br /> L1.NMkw.Any�otice to Barrower provided for in this Srcurity lnstrument shal)be given by delivering it or by mailing it by :
<br /> first eLa mW unkss applicable law require�use of au�other method.7�he notice shall be directed to the Property Address or any
<br /> other�ddress Borrawer desi jnates by notice to Lender.Any nutice to Lender shall be given by first c(ass mail to Lender's address
<br /> stated hecein or any address Lender desi�nates by nocic�e to Bon�wer.Any rtotice providea ior i�this Security Instrument shall
<br /> be deemed to have been givrn to Borrower or Lende� whe� g,.en as provided in this puagaph. �
<br /> M.Go�eHi■�Law�;9e�ersMYty.This Stcurity Instrument si�ull be gavemed by Federal law and thc!aw of the jurisdiction in �
<br /> which the Prop�My is tocated. in the event thxt an�pravisia�or clause of this Security Instrumrnt or the Note conflicts with ap- �:
<br /> plicabk law, such conflict shall not affect other pro�isions af this Sceurit�Instrument ar the Note which can be given efiect �r'
<br /> without the contlictina provision. To this end the provisions of this Seturity Instrument and the Note are declazed to be �
<br /> sevaabk.
<br /> � .
<br /> 1s,lon�awes's Co�y. Borrower shall be given one conio .�zed copy uf this Security Instrument.
<br /> li.At�i��est ot RRSb. Borrower uncon+iitionally assigns and transfers to Lender aU the rents and revenues of the Property.
<br /> Borcower authorius Lender ar L.ender's agents to cotlect the rents and revenues and hereby direcfs each tenant of tht Propercy
<br /> to pay the rents to Lender or Lender's agtnts.However,prior to L.ender'�notice to Bonower of Bortower's breach nf any rove-
<br /> naat or�rement in the Security Irtstrumeot.Bortower shall collect and receive nll rents and revenucs of the Prupeny as trustee
<br /> for[he benetit of Lenda and Hanowcr.This�ssignment of rents constitutes an absoluta assignment and not an assignmc�t for
<br /> additional secu:itY only.
<br /> If Lender�iva�otice oi bteuch to Bonower:{a�atl rents reti:eived by Borrower shall be held by 8o�rower as trustes fot benefit
<br /> of Lender oaly,to be a�pited ta the sums sccured by the Serurity Instrument;(b)Lendtr shall be entitied to collect and receive a11
<br /> of tht rents oF the Property;sad(c)esch teaaat of the Proprrty shall pay all rents due and unpa�d to Lender or Lendcr's agent
<br /> on Lcnder'�writtcn demand to thc tenant.
<br /> 8orrower hu not exc+euted any prior assignment af the rents and has not and will not pe�form any acs that woufd preven�
<br /> LenQer from exerciur.g its rishts undet this paragraph 16.
<br /> Lender shall not be tequired ta enter upon,take control of or maintain the F'roperty before or after giving notict of breach to
<br /> Borrower. Nowevu.Lendu or a judic�ally aypointed rrceiver may do so at any time there�s a breach. Any applicxt�on of rents �___,_,_
<br /> sh�ll not cure or waive any defaalt or invalidate any other right or remedy of Lender.Thi�ass�gnment�t rents ot the Property .
<br /> sh�U trrminatc when the debt securcd by thc S�curity Instrurnent �s pa�d►n fuli.
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