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<br /> �, croM»d.ro�A�cek��ioA ot n�b�. g�.�, 1 U`�31 3
<br /> . ts1�iasii.I�eii�ic�may,except�Ilmited by regulations issue�by thr S:cretary in thr c:�se of pAyment defaults,reqt!'sre
<br /> immedlat�payment in fuli oP all sum�secured by this Security tnstrument if:
<br /> (i)Borrower defaults by failins ta pay in fuU any monthly paymeflt rcquired by this Security Instrument prior to or on
<br /> � ihe due d�ic of the ncxt montA{y p�yment,or
<br /> (ii)Anrrawer drfsuita by f�ilifly.for a period oP thiety days.to perform any other obligatians contained in this Scsurity
<br /> Instrumertt.
<br /> (�)S�k NkBoet CYedk Appeoval.lx�er sA�ll.if p�rmitted�y Applica�+le law and with the prior appmval af the SecY+ctary,requlre
<br /> inuneetialo p�ymetM in fuU of aU the suma securod by th9s 5ecuriry Iasttument iP:
<br /> (i)All or p�rt of the Ptupe�ty is othenvise cr�nsfer�ed(other than by devise or desoent)by the Hortower. and
<br /> ; (li)71�e Prqxrty ia aot occupiod by tlie purchaser or gantet as his or tier priirwry or s000nd�ry rc.cidenoo.ur the purchaser or
<br /> gt�nloe does�o oa,�t�py the Ptoperty txM his or het crodit h�twt bxn approvod in aoeotdanoe with the tequirrmeMs of tho SetTetary.
<br /> (e)Ns Wa{nr.lf circumsttnces occur tRat would permit Lender to require immediate payment in full,but Lender does not
<br /> ; require such payments, Lende�does Aot wdve lts righta wfth rapect to subsequent events.
<br /> t (/)�Wiaa o!HUD 9ecretary.In many circnmstances regulations issued by the Secretary will ltmit Lender's rights,in
<br /> � the cae of p�yment defaults,to require immediate payment in fuU su�d forectose if not paid.This Security Instrument does
<br /> not iutborire ac.celeration or foreclasure if not permitted by regulations of the Secretary.
<br /> � 1�. R�teae�t. Borrowe� h�u a right ta be reinst�ted if Lender has required immediate payment In fuU because of
<br /> r BorroMer's faUure to pay s�n amount due undu the Note or this Security lnstrumont. This dght applies even after foreclosum
<br /> ! pra.�eedin{s ue instituted.To reinstate the Security instrument,Borrower shall tender in a lump sum all araounts required tv •
<br /> , brin� Horrower's account currcnt includin�, to the eutent they are obligations of Borrower under this Security Instrument.
<br /> i foreclosure costs and reason�ble and customary attomey's fees and expenses properly associated with the foreclosure
<br /> ' proceedint.Upon reinstatement by Boaower,this Security lnstrumant and the obUgations that it secures shall rema�n in eifect as
<br /> If Lender had not required immediate payment in full.However.Lender is not requlred to permit reinstatement if:(i)Lender has
<br /> aceepted reinstatetnent after the commencement of foreclosure proceedings wlthin two years im�ediately proceding the ,
<br /> commenament of a current foreclosure proceeding, (li) reinstatement will preclude foreclosure on different grounds in the
<br /> future.or(rii)reinstaument wW adversely affect the priority of the lien created by thls Security Insccu�ent.
<br /> � ll. Boeow�er Not Reka�ed;Forbesnace By Lender Not a Wdver. Extension of the time of payment or modificatlon of
<br /> amortization of the sums secuted by this Security instrument granted by Lendor to any successor 9n interat of Barrower shall not
<br /> operate co release tht llability of the orlginal Borrower or Bonower's succeasor in interest. Lender shall not be required to
<br /> commena proceedings against any successor in interest or refuse to extend time for payment or othenvise modify amortlzation
<br /> of the sums secwYd by this Security lnstrument by r�ason of any demaetd made by the orlginat Borrower or Bonowtr's
<br /> successors in interest. My forbearance by Lender in eaercising any right or remedy shall not be a waiver of or preclude the �
<br /> exacise of any dght or reraedy. .
<br /> - . . L'.,°,nt:�:.a.;a;.�A�w��aC;3a3at�SrYen_!i!�b!!±ly;�'�-S�se!r�, Th�Mv�nanta and avre�eme�tc of thic Secutltv '
<br /> Instrwnent shall bind and benefit the succossors and asslgns of Lender and Borrower,subject to the pcovisions of paragraph 9.b. i�-•
<br /> Boaower's covenants and aSraments shall be ioint and several.Any Bottower who co-signs this Secanrity Jnstrument but does
<br /> . not ea[ecute t6e Nate:(a)is co-signing this Security Instrument onty to mortgage.grant a�sd convey that Harrower's interest in __
<br /> the Property under the terms of this Security Instrnment;(b)is not personally obligated to�ay the sums secured bg this Security --
<br /> Instrument; and (c) agrees tAat Lender and any other Borrower may agree to extend, madi6y, forbear or make any --
<br /> accommadations with regard to the term of this Security Instrument or the Note without that Borrower's consent. -=
<br /> j l3.Notices.Any notice to Borrower provided for in this Socurity Instrument shall be given by deliv�ring it or by mailing it by
<br /> t'ust class mail unless appGc,�tble law requires use of another method.The notice shall bt d'utcted to the Property Address or any ,
<br /> ! other address Bonower designates Dy notice to Lender.Any notice to Lender shall be givere by first class mail to Lender's address
<br /> i stated herein or aay address Lender designates by notta to Borrower.Any notice provided for in this Security Insttument shall —
<br /> ! be damed to have ban given to Borrower or Lender when given as provided in this paragraph.
<br /> , U.Go�eni�=Law;Serern6Wty.This Security lnstrument shall be govemed by Federal law and the law of the jurisdiction in
<br /> wtiish the Property is located.In the event that any provision or clause of this Security Instrument or the Note conflicu with ap-
<br /> pllcable law� such rnnflict shall not affect other provisions of this Security lnstrument or the Note which can t�e�ven effat
<br /> without the conflitting provision. To this end the provisions of this Security Instrument and th� Note are declared to be
<br /> severable.
<br /> 1S.Borro�rer's Copy. Bonower shall be given one conforrtYed copy of this Security Instrumen�. ,�•�t
<br /> ; 16.A�e�oeet o!Renta.Borrow•er unconditionally assigns and transfers to Lender al6 che rents and revenues of ihe Ftopeny. .
<br /> Bonower authorius Lender or Lender's ageats to collect the rents and recenues and hereby directs eaeh tenant of•tht Property .
<br /> � to pay the rents to Lender or Lender's agents.FFowever.prior to Lendes's notice to Borrower of 9ozrower's breach of any co��e-
<br /> naat or agreement in the Security Instrument,Borrower shall collect and receive all rents and revenr�es of the Property as trustee .
<br /> ; for the beaefit of Leader and Bonower.Thls assignment of rents constitutes an absoIu*.e assignment and not an assignment for
<br /> add"etional security only.
<br /> If Lender gives notice of breach to Borrower:(a)all rents received by Bottower sha11 be held by Borrower as t*ustee for benefit
<br /> _ . of Leada oaly,to�e applied to ihe sums sccured by the Security lnstr�eaa;(b)Len�:r shall be entitltd to cotlect and receivt all
<br /> : of the rents�f the Fraperty;ana(c)rncL tena�it vf the Frvperty shali pay a13 rents dts�a»d unpaid ta f.eader or Lender's agent
<br /> • on l.ender's writtsn demand to the tenant.
<br /> ., SQrcower has not eaecuted any prior assignment of the rents and has not and wiL not perform any act that would prevent
<br /> Lettdet ftom exercising its rights under this paragraph 16.
<br /> Lender shall not be required to enter upon,take control of or maintain the Propeny before or after giving reotice of breach to
<br /> Borrower.However,L,ender or a judicially appointed receiver may do so at any time there is a breach. Any application of rents
<br /> shalS not cu;e o,w,3ive arny defa�:lt or invalidate any oth.r righ:or remedy of Lender.This ass3gn::zent of rents of the Property ,__._�___�.
<br /> sha'u terminate when the debt secured by the Security Instrument is paid in full. ,
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