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<br /> 9,GrurMi tar Accekntioe o!nebt. 90�1 Q�5 2 0
<br /> l�)Det�ek, l.endu may.excrpt as timited by tegut�tions issued by the�ecretary in tho rase of payment dcfaults.require
<br /> immedi�te payment in full of all sums secured by this Stcurity Instrutnent iP:
<br /> (i)Bonower def�ult�by fviling to psy in fuU any monthly paymedt required by this Security lostrument prior to or on
<br /> tha due�tete of the nrxt monthly p�yment,or
<br /> i�l)Borrowrr defaults by fnIling.for a perIod of¢hiny days,to perform any ather obligations cantainc�in thls Security
<br /> trutrument.
<br /> (b)Sek 1i`lt�ont Cn�t Approv�l.Lender aha0.if pemiiaed by appikabin law and with the prior approval of thc Socretary,ceyuirr
<br /> un�nedLta p�ymrnt in full oi aU the swns sa'tued by tAis Security instrument if:
<br /> i (i�All or put of the Pt�c,perty is othe�vvix transferrcd(wher than by dcvlse or descern)by the BorrowGr,and
<br /> � (ii)'Ihe Prop�cty is not oxd�ied by the purchasec or graMa as his or her primiry or soamduy raidenee,or the purchaser or
<br /> � gtaMee does ao accvpy tbe Propetty but Ais ot her crodit ha9 not been ap�xovod ia a000Nam with the�quirat�ents of tLe
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<br /> i (c)N�Wai►q�.If ctrauagt�,,e�o�.�woyy�p�,,l.endGr to nquire immedlate payment In full,but Lender does not
<br /> require such p�yments, I:ender does not walve its rlghu with respect to subsequent events.
<br /> ���e�Oa ot HU�Secnctary•In maaY ci�cumstances�egulsHons issued by the Secretary will limit Lender's rights,in
<br /> payment dafiuls�,to require immediate payment in full and foreclose If nat pdd.This Security Instrument does
<br /> not authorize acceleration or foreclasure if not permltted by regulations af the Secretary.
<br /> j 1�• Rdrlueae�l. Sorrower has � ri�ht to be reinstxted if Lender hAS required 9mmediate ps�yment in full because of
<br /> iBorrower's fiilwe to p�y�n otmount due under the Note or this Security Instrument.This right applies even after foreclosure
<br /> 1 P��np ere instItuted.7'o reinstate the Securlty Instrnment. Borrower 9hall tender in a lump sum all amounts required to
<br /> brin�Bon��aer's account curnnt including, to the eatent they are obligations of Borrower under th9s Security Instrument,
<br /> foreclosure costa and reuonable aad custamuy attomey's fees and eapenses properly assoclated with the foreclosure
<br /> proceedins.Upon reinstatement by Borrower.this Security Instrument and the obllgations that it secures shaU remain ln effect as
<br /> if l.ender had not required immediate payment in ftill.However,Lender is not reyuired to permit reinstatement if:(i)Lender has
<br /> aocepted relnst�tement after the commenament of foreclosure proceedings wlthin two years immediately preceding the
<br /> commoncement of a current foreclosure proceeding, (ii)reinstatement will preclude forecloswe on different gounds in the
<br /> � future,or(iii)reinstatemoat will adversely affect the priority of the lien created by this Security Instrument.
<br /> 11.Sorrowcr Not Rela�ed; Forbeara�ce By I,e�der Not a Watver. Extension of the tlme of payment or modification of
<br /> � unortlution oF the sums secured by this Security lnstrument gran=,ed by Lender to any successor in interest of Bonower shall not
<br /> operate to rekax the liability of the original Borrower or Borrev►er's successor in interest. Lender shaU nat be required to
<br /> ; commence pmceeciings against any succasor in interest or refuse to+extend time for payment or otherwise modify amortization
<br /> of the sums secured by this Security Instrument by reason of any demand made by the origina! Borrower or Bonower's
<br /> � successors in interest.Any Forbearance by Lendet in exercising any dght or remedy shall not be a waiver of or preclude the
<br /> , eaercise of any rlght or remedy. : .
<br /> �� 12.S�ocearon nd � .*
<br /> Aakas Boo�d;Joiat s�d Sereral LiabWty;Co-Si�aera, The covenants and agreements of this Security -
<br /> , Instrument sh�ll bind and benefi3 the suocessors and assigns of Lender and Bonower,subject to the prnvicinns of para�aph 9.a.
<br /> � ! �orrower's covenywts an�agrcemtnts shall be joint and several.My Borrower who co-si ���-
<br /> -� -�-�----.-.»�-�%a"ajr•e•���•�c�.�ii ii"Insirumrnt oni to mort 8�this Security Instrument but dues
<br /> __ nne ex�r,�r.: . .....r.�:. _-�- r y gage,ggnt and convey that Borrower's interest in
<br /> � the I'roperty uader the terms of this Secudty Instrument;(b)is not personally obligated to pay the sums secured by this Secnrity � �
<br /> ; lnsuument; and (c) ngrees that Lender and any other Borrm�es may agree to eatend, modify, fotbear or make any
<br /> � aocommodations with regard to the term of this Security Instrumer.,or the Note wlthout that Bonower's consent. '•
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<br /> �' l3•Noti�es.Any notice to.Borrower providad fot in this Security Instrument�hall be given by delivering it or by mailing it by
<br /> � t"ust class mail unless appkcable law roquires use of azcother method.The noda s�ll be directed to the Property Address or any
<br /> other address Borrower designates by noGce to I.onder.Any notice to Lender shaFF!�e given by first class mail to Lender's address
<br /> , suted heteim or any address 1 ender designates by noti�x to Bonowor.Any notice provided fQS in this Security Instrument shall
<br /> be deemed to have been given to Borrower or Lender when given as provided in this paragraph.
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<br /> " � U•Go�er�lq Law;Se�enbWt�.This Security Ir�s�ent shall be govemed trg Federgl law and the law of the jurisdiction in ��
<br /> which tht Property is lacited.In the event that any p�o�ision or clause of this Secu�ity lnstrument or the Note conflicts with ap-
<br /> � �licable l�w. such comtiict shall not affect other prov:sions of this Saurity Instrument or the Note which can be ��
<br /> � without the eoaflicti given effecc
<br /> ng provision. To this end the provisions of this Security Instrument and the Note are dcelarccE to be ��'
<br /> severable. ;.�,
<br /> : ]S.Borro�ver's Copy.Borrower shall be given oae conformed copy of this Se�'u:ity Instrument. �� -
<br /> 16.Aa�nmeet o!Rents.Borrower unconditionaUy assigns and transfers to Lender all the rents and revenues of the Property,
<br /> Borrower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs each tenant of the Property
<br /> to pay the reats ta Lender or Lender's agents.However,prior to Lender's notice to Bonowes ef Borrower's breach of any cove�
<br /> nant or agreemmt in the Security Instrument,Borrower shall collect and receive all rents and revenues of the Property as trustee
<br /> t� for the benefit of Lender and Borrower.This assignment of rents constitutes an absolute assignment an,d got an assignment for
<br /> additional security only.
<br /> ; if Lender gives notia of breach to Borrower:(a)all rents received by Borrower shall be held by Borrower as trustee for beaefit
<br /> af Lender on1y,to be applied to the sums secured by the Security Insttument;(b)I.�nder shall be eatitled to collect and recei-:e all
<br /> • of the rents of tho Praperty;and(c)each tenant of the I'roFerty sh�l�y all tents due and unpaid tv Lender or Lender's agent
<br /> ; on L,endet's wtitten demand to the tenant.
<br /> — ; Borrower has not eaecuted any prior assignment of the rents and has not and wip not perform any act that would prevent
<br /> Lender fzom eaercising its rights under this paragraph 16.
<br /> Lender shalf not be re�uired to enter upon,take contro!of 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 rents r� -�-
<br /> shall noi cure or waive any default or invalidate any other right or remedy of Lender.This assignment of rents of¢he Property '
<br /> ___ shall terminate when the debt secured by the Security Instrument ic p�d ir_ fall.
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