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<br /> 9. Gro��ds far AccelenUow ot Debt. 90— 1 d 23 0 2
<br /> � (�)Dif�tifl. i.cnder msy,except as Umitcd by rcgulptlr,ns issued by the Secretaiy in the cass of payaient defaulte,requirc
<br /> immediate�ayment in full oi oU sums stcured by this Security I�strument if:
<br /> � (i)Borrowtr detaults by f�iltn�to pay tn iuA Rny monthly pryme�lt required by this Security Instrument prior to or on
<br /> the due date of the aeat rnonthty�syment,ar
<br /> pi�&arcQwer c1eP�ults by P�iling,for o perlad of thirty dsgs.to perform anp other obligations containcd in thia 5ecurity
<br /> fnstrument.
<br /> (b)S�ie Wk1ioW Cn�dk Appraral.I�ender shall,if pem�iaed by applicsMe l�w end with the prior approvAl af the Sac�eury,rajuite
<br /> immediata paymeat in full ot W the auma socurod by this 5ecuriry Inununeut if:
<br /> • (i)All or put of the propecty is othe�wLs�bamferrod (ather tlua by devise ar desaen)by the Borrower.md
<br /> ' (i�'I1b prapetty Is not oocupiod by tho purch�er or�rantee as hLv a txr primary or sa.�atiWy czsidenoe,a tAe putctmer or
<br /> �ra�ee doa ao vavpy tl�e P�operty but his er her ct+edit da�not ban approved ia accoN�noe with tfie cequin�xnt4 af the Soctetsuy.
<br /> (c)No W�er.If circumstauce�occur that would petmit Lender to rcqu�re immed9ate pAyment In fuU,but Lender does not
<br /> require such p�ymeat�. Leader doe�not waive its dghts with respect to subseyuent events.
<br /> � (1)R�MMor o�HUD Saees+tr�ry.l�many circumstuK�resulaHons issued by the Secretrtry will limit Lender's d�hta,in
<br /> 1 the case of payment default�,t�requlre lmmedlate pi►yment ln Nll ind forcelose if not paid.This Security Instrument doa
<br /> , not tuthorize ucekr�uon or forectosure if not perrnitted by regulitions of the Secretary.
<br /> l�. Refrtale�e�t. Borrower hss A right to be reinst�ted if Lender has requlred imme�dlate payment in fuU baause of
<br /> ' BorroMer's fallure to pay�n amount due under the Note or thls Security lnstrument.This right appfies even after forecloswe
<br /> � procadinp ue insdtuted.To relnstate the Secwity lnstrument.Borrower shaU tender in a lump sum aA amounts cequired to
<br /> ; brins Boaower's �emunt current including, to the extent they are obG�ation�of 8orrower under thls Secudty lnstrument,
<br /> � foreclos�ue costs and reasaaable and customary Attorney's fees xnd eapenses properly associated with the foreclosure
<br /> �r000alin�.Upon reinstatemeat by Borrower.ttrss Securlty Instrument and the abUgatlons that it secuca shAll remain in effect as
<br /> if Lender 6ad nat required 9mmediate payment in full.However,Lender is not required to permit reinstatement lf:(i)Lender has
<br /> ' accepta! relrut�tement �fter the wmmencement of foreclosure proceedin�s withia two years immediately preceding the
<br /> ; cammencement of a current foreclosure proceeding. (il)reinstatement will preclude fo*eclosure on dlffereat grmr�nds in the
<br /> i futwe,or(iii)rdastatement will adversely affect the prlority of the lien crexted by this Security lnstrument.
<br /> � ii.Don�ower Not Releaed; For6eanua By Le�der Not�Wdver.Extension of the time of payment or modiflcation of
<br /> unortlution of the aums secured by thls Security lnstrument granted by I.ertder to any successor in interest of Borrower shall not
<br /> oper�te to release the U�bility of tl�e original Bonower ar Borrowar's successor in i�ts�est. Ixnder shW not be ccquired to
<br /> ' commencr proceed�n�s�ainst aey svccessor in interest or refuse to eatertd tune for pay�msnt or otherwlse modify aznonization ' '
<br /> � of the sum� saured by this Security Instrument by reasan of any demand made bK¢he odginal Borrower or Borrower's �
<br /> s successora in interest. Any forixazance by Lender in eaercising any right or remedy shatl not be a waiver of or pralude the
<br /> . eaercise of any ri�ht or remedy. �
<br /> � � ,
<br /> ! ' 12.Sacceason a�d A�as so�ad;7olot aid Sevenl LiabWty: Co-Si��era.The cQLCn�nis and agtaments of this Security i -
<br /> IatWmenf sMll bifld and Oeneflt the succrssors an�assigns of Lenaer�and Fwr�uwe,,su`vje:t io ihc proz�is�or.�of psrsetsph 9.b.
<br /> BonoNer's eovenants and agreements shall be joint and several.Any Borrower who co-signs this Security lnstniment but does �
<br /> - - IItii cwiiaitc'iiiv i:i'iiS:toj i5��-a.&i3it$ii3'a.ca�ti3iitj:iS�2i7I�:•:Ii:^vSf:�iG fiv:Ip�v'��'i:.i.�iL'L�tAt�.:.j 2tS:i uv:i0'.:tf�o 1(K.�"..b iff
<br /> ; the Propertq uader the terms of�his Security Instrument;(b)is not personally obligated to pay the sums secured by this Security
<br /> � Instrumeat; and (c) aaras that Lender and any other Bonower may agra to extend, modify. forbeu or make any -
<br /> • ucummodatioas wIM regard to tRe term of this Security Instrument ar the Note without that Borrower's consent. , '
<br /> L3.Nodces.My notise to Honuwer provided for in this Security InstrumeAt shall be given by delivering it or by mailing it by —
<br /> . first clw mall unless apDlicable law requires use of another method.The noace shall be directed to the Property Address or any
<br /> othor�ddress Borrower designates by notia co Lender.Any notice to Lender shall be given by f rst class mail to Lender's address
<br /> • statod herein or any address I.ender deslgnates by notice to Borrower.Any notia provided for in this Security lnstrument shall
<br /> . ; be damed to htve been given to Borrower or Lender when given as provided in this paragtaph.
<br /> . 14.Go�eral�Law;9evera6lHt�.This Security lnstrument shall be govemed by Federal law and the Iaw of thc jurisdictioa in
<br /> which the�'roperty is lacated.In the event that any provision or clause af this Security Instrument or the Note conflicu with ap-
<br /> pllcabk law, such coafllct shall not affect other provisions of this Security Instrument or tht Note which can be given effect •
<br /> ' without the contUcting provision. To this end the provisions of this Security Instrument and the Note aze dedared to be
<br /> severable. ;.��
<br /> , LS.Burrower'a Cop�.Borrower shall be given one conformed copy of this Security lnstr�ment.
<br /> ii.Aa��sest of Reats.Borrower urtconditionally assigns and transfers to Lender all the rents and revenues of the Property.
<br /> Borrower authoriza Lsnder or Lender's agents to collect the rents and revenues and hereby directs each tenant of the Property
<br /> to pay the rents to Lender or Lender's agenu.However.prior to Lender's notice to Bonower of Bonower's breach of eny cove-
<br /> nant or airecment in the Security Instrument,Bonower shail collect and receive all rents and revenues of the Property as trustee
<br /> � for the btnefit of Lender and Borrower.This assignment of renu constitutes an absolute assignment and not an asszgnment For
<br /> � addicional secvritp only. �
<br /> If Lender gives motice of breach to Borrower:(a)all rents received by Berrower shall be held by Borrower as trustee for benefit
<br /> � ' of Lender only,to be applieti to the sums secured by the Sec�ritg lnstrument:(b)l.ender shall bt entitled to collect and receive all
<br /> of the rtats of the Praixny; an�ic)each cenant of the Proper[y shali pay all rencs due and unpaid to Lender or L.ercdet's agent
<br /> on Lender's written demand to tho tenant.
<br /> Borrower hu not e.;ecuted any prior assigtiment of the rents and hac not and will not perform any act that would preveat
<br /> � Lender from exerc'ssi.zg its righu under this pasagraph 16. -,
<br /> Lender shall not be required to enter upon,take control uf or maintain the Propeny before or after giving notice of breach to
<br /> Borrower. However,Lender or a judicially appointed receiver may do so at any time there is a breach. Any application of renu ,--_ _ _-_--
<br /> � shall not cure or w�ive any default or inv�fidate any othot right or remedy of Lender.This assignment of rents of the Property .
<br /> shal]terminste when tbe debt secured by the Security instrument is paid in full.
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