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<br /> 9.CrpasAa tor Accekratton ot lkbt. "o�° i��3 ( �
<br /> • S�)�w���t�,1 ender may, except as llmited bv regulations issued by thc 5ccrctary in the rase of paymene defaults,require
<br /> inimedlate payment en futl of all sums sc..urcd by this Sccur6ty Instrument it:
<br /> (i)Barrower default�by failing to pay in Pup any manthly paymertt required by this Secucity Insttumcnt prior to ar on
<br /> � the due date ol the next monlhly p�yment, ar
<br /> (ii�Borrower defaults b�r f�iling.Por a period of thinY days,ta peri'orm Any othcr obllgations contained in this Security
<br /> Inatrument.
<br /> (b)5�k Wkroat Crtdit Appirovd.Lender slusll,if permittedby aw�plicabie law an�l with the prior approval of the Secretary,rrquire
<br /> immodi�te p�yment in full of all the swns securod by this Socusiry Inurument iL•
<br /> (i)All cx part of the Pre�peRy is atl�envise transferrod (other than by devise or descent)by the Bomawer,and
<br /> � (ii)71�e Pnoperty is not occupied by the put+chaser or grauue as his or her pFim�ry or soco�sdary residenca,ar the purchaser or
<br /> ! gnnbe does srt�oocupy the Ftupe�ty Mrt his or htr crodh ha9 not haen apptuved in e�eocdanoo a+ith the requitements of the Seceotary.
<br /> (c)No W�her.If circumstance�occur that would permlt Lender to requlre immtdlate payment In fup,but Lender does not
<br /> require such paymeate.Lender does not wdve its rights wlth rospect to subsequent ovents.
<br /> ' (d)RepiWors ot HI1D Sec�slary.ln m�ny circumstances regulations issued by the Secretary will limit Lender's rights,in
<br /> � the case af payment det�uits.to requlre immediate payment in f uU and foreclose if not paid.This Security Instrument does
<br /> � not tuthorize acceteration or foreclosure if not permltted by regulations of the Secretary.
<br /> � l�. Reirhtewed. Bonower has a right to be rtinstateaf iP Lendzr has requtred immediate pay�sne�t¢ in fuU becauu of
<br /> � Bonower's failure to pay an amount due under the Naae ar this Security]nstrument.This right applles even after foreclosure
<br /> � praceedinRs are instituted.To reinstAte the Secur�ty 3nstrument,Borrower shall tonder in a lump sum all amounts required to
<br /> � brint Borcower's account current iacluding, to !he eatent they are obHgations of Bonower under this Security Instrument,
<br /> ` foreclosurc cost� and reasonable and customary attomey's fees and expenus properly associated with che foreclosure
<br /> ; proceedin=.Upon reinstatement by Borrower,this Secvflty Instrument and the obUgations that it secures sball remain in effect as
<br /> ' if Leader had not required immediate pAyment in full.However,Lender is not required to permit reinstatement if:(i)Lendor has
<br /> i accepted reinstatement after the commencement of forectosure proceedings within [wo years immediately prxeding the
<br /> commenament of a current forectasr�re proceeding. (u)reinstatement will prec�ude foreclosure on different grounds in the
<br /> futwe.ot(ili)reinstxtement will adversely affect the priority of the lien created by this Secudty lnstrume�t.
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<br /> 11. Borrower Not Aekased; Forbean�ce B� Le�der Not t Wdve�. Extension of the time of paym�n�lt or modification of
<br /> ' xtnordzatian of the sums secured by this Security Instrument ganted by Lender to any successor in interest of Bortower shall not
<br /> ! operate to releztse the liability of the orlginal Borrower or Boirower's successor in iaterest. Lender sha11 not be required to
<br /> ; rnmmena prooeedings against any succ�ssor in interest or refuse to extend time for paymmt or otherwiso modify amortiaation �
<br /> of the suma secured by thls Security lnstrument by reason of any demand made by the original Borrower ur Hoaz��wer's
<br /> i suocessors in interest. Any forbearance by Lender in oxercising any right or remedy shall not be a waiver of or prec�ude the
<br /> eaercise of any dght vr rcmedy. ,
<br /> 12. Sacce�on ud AW�a�Boawd:Jolat and Sevenl Liabiliry;Co-Sl=eers. The covenants and agrecments of this Security !
<br /> � Instrument shall bind and benefis che s�axa,u,s and a�igns ot'Lcadrr�sd 8or:ou�er.subjte!to th�rr!►vicionc of pazastraph 9.b. -_
<br /> Borrower's eovenants and agreements shaU be]oim and several.Any Borrower who co•signs this Security Instrument but dces =
<br /> - �3:L:.."'71l�i!:L r!��r.• wl:e w-':.+ ..o ti�jr C„�,,...,�tY;�ej{�,�,�+i�Pt�r}lY tn�n�aao� ara,p�anrl cnnv�v th�t Hnrr�wer'e interest in -
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<br /> � the Property under the terms of th�Security instrument;(b)is not personally obllgated:a pay the snms s�'�.^ured by this Security
<br /> • Instrument; and (c) agrees that Lender and any other 6ottower may agret to extend, madify. forbear or make as�y ' —
<br /> accommodadons with regard to tho term of this Security lnstrument or the Note without that Borrower's consent. _
<br /> 13. Nodots.Any notice to Bonower provided for in this Security Instrument shall be given by delivering it or by mailing it by 'p
<br /> first class mail uailess applicable law requires use of another method.The notice shall be directed to the Property Addreu or any
<br /> other addras Borrower designates by notice to Lender.Any notice to l.ender shall be given by fitst class mail to Londer's address •
<br /> stated haein or any address Lender duignates by notice to Borrower. Any notiee provided for in this Security Instrument shall —
<br /> � be deemed to have been given to Borrowor or Lender when given as provided in this paragraph.
<br /> : i�.Goreni��Iaw;Se�enbility.This Sacurity Instrument shall be governed by Federal law and the law of the jurisdiction in
<br /> which the Property is located.In the event that any provisian or clause of this Security Instrument or the Note conflicts with ap- t �
<br /> • . plieable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect
<br /> without the conflicting provision. To this end the provisions of this Security lnstrument and the i�tvice are declazed to be '
<br /> ' severable. •�
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<br /> Li. Borroxer's Copy.Bottower shall be given one conformed copy of this Security Instrument.
<br /> � 16.A�I�ement oi Reat�.Borrower unconditionally assigns and transfers to L,ender a!I the rents and revenues of the Propeny.
<br /> Borrowet authotizes Lender or Lender's agents to collect the rents and revenues and hereby directs eact�tenant of the Property
<br /> to pay Ne rents to Ltnder or Lender's agents.However,prior to Lender's notice to Borcower of Bor�ouet's breach of any co�•e-
<br /> � nant or 8greement in the Security Insttument,Bottower shall coUect and receive all rents ar►d revenues of the Property as trustee
<br /> for the benefit of Lender and Borrower.This assignment of rents constitutes an absolute assignment and not an assi�ment for
<br /> addition�l savrity only. .
<br /> lf l.ender gives notice of breach to Bnnower:(a)a1)rents received by 8orrow•er shall be held by Borrower as trustee for benefit
<br /> of Lender only.to be applied to the sums secured by the Security Instrumenr�b)Lernder shall be entitled to collect and receive all
<br /> . oi'!he ttnls�f tht Property:and f�)eaci�temsnt of tl�e Pro�erty shall pay all rents clue and unpaid to Lender or Lender's agent
<br /> �n T tn�r'S wri!t�n �Itms!n�to the tenant.
<br /> Borrower has not �xecuted any prior assignment of the rents and has not and will not perform any act that would prevent
<br /> Lender from exercasing its rights under this paragraph 16.
<br /> L.endet shaU not be rcquircd to enter upon,take control of or maintain the Property before or after giving notice oF breach to
<br /> Borr�wer. However� Lender or a judicialty appointad receiver may do so at any time there is a breach.Any apple�:airc*n of rents
<br /> sha11 ctae cure or waive any default or invalidate any other right or remedy of Lender.This assignment of rents of tF.e Propeny '—�'---
<br /> shail ir:minace when �he ueot scn:urc� by the Saurity Insirumenc is p,:id io �:sll. '
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