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I ' � i d1 A 1 �"1 A , 90_... �.�� ' f.Grorad+to�Accekntiow oQ Debt. i (�)Detf�h. 4er,der may,exapt a limttrd by rtguladons issued by thc Sacretary i�the cxse of payment defaults,rcyuirc immedi�tc paymGnt in futi of dl sums serured by this Srcu�ity Instrument if: (i)Borruwer defaults by failin�to p�,in foil any month{y pxyme�lt requIc�d by this Secarily tastsument prior toos on r; the due date of the neat montdly payment,or � (ii)Borrov►�er ckfaults by failing�for a periad of thirt}days�ta perform any athe�obllg�tions cnntairted in thls Stcurlty . tnstrument. � (b)Sde Wk600t Cr�dit Aqiroval.Lender slWl,�f pertnittod by�pplic�ble law aad with the prior approval of the Socretary,require iavnodiate p�yment ia full of sll tho snm�securod by this Sacuriry Inurument if: i (1)AU a part of the Pmpe�ty ls od�erwi�e usinferred(utt�er th�n by dovisc a desceal)by the Bortnwer.and ; (ii)7!ro P�+operty is aot oocupied by tho purchaxr or gr�ee a+his or her primiry oc socondary residenoe,or the purch�cer or I gnalee doa so ooaipy the PmQe�ry 6ut his ar bei credit Me¢at bea►�pp�+�rvod in soaxd�ooe with the�equi�anents of the Soc�etuy. I (c)No Wihrer.If citcumstaneas occur that would prr�it Leader to caauine imraediate payment in fuU,but Lender das�ot requ�re such paynxnts, I.ender does not waive its ri�,hts with respect to subsequent�rents. (�)RenWlo�ot HUD 3ecretary.In mxny circumstances regulatlons Issued by the Secretary wlll Ilmit Lender's rights,in j the case of payment defaults,to require immediate payment in full and foreclose if not paid.'1'h9s Security lnsirume�t das ' � not aathorize accekntlon or foreclosure if not permitted by reguladoas of the Secretary. , i 1�. �t. Bonower has • right to be reinst�ted lf Lender has required immediate payment in full because of 1 Botro�ver'a failun to p�y an�mount due under the Note or chis Secu�ity lastrument.This d�ht�pplies even after foreclasure proceedinp are instituted.To re�nstate the Security In�trament. Borrawer ahall tender in a lump sum aU amount�rcquired to i brity Sorrower's�wuni currcui ii�ciu�iiy. t� th� e�tent thcy arr abl:�atiarss of Hor:o�er undss shls Secur9ty !nc��mmt: lorcclosun co�ts and reuontble and cuuomuy attorney's fees and e�penses properly associated with the foreclasure i proaedin{.Up�n reinuatement by Honower.thi�Securlty fnstrument and the abligttions th�t it secures sha11 remaln in eifect as J if l.endrr had not requircd immediate payment in full.Howevet.Lender is not required to permit reirtstatement ii:(i)Leader has � accepted reinuatement after the commeneement of ioreclosure praceedings within two yeua immediately precsdin� the commenament of a curtent foreclosure proceedin�, (ii) reinstatement will preclude i'orcelosure on diPfereat grounds in the � future,ot(iii)reinsutement will adversely afPect the priority of'the lien created by this Security lnstrument. if. �orrower Not Rekased;Forbe�n�cs By Leeder Not a Wdver. Extension of the time of payment or modification of . amortization of ihe sams secured by this Security Instrument granted by Lender to any successor in Interest of Borrower shall not operate to relase the Usbility of the odginal Borrower or Sorrower's successor in interest. Lender shal! not be requlred to , • • commena proceedings a�ainst any sucassor in interest or refuse to extend time for payment or oth.rwise modify amortization , � of the sums secured by this Security lnstrumtnt by resson of any demand made by the original Bonower or Bonower's ' successors in interest. Any forbeYrance by Lender in exerclsing any rlght or remedy shall not be a walver of or preclude the . '- --- _ eaerclse of any riaht or remedv. ; _ 12.S�ee�ore�Ad Aal��s Do�ed;Jotet aad Sevenl LiabWty;Co•5is�en. The covenants and agreements of this Security ` _ Instrumrnt shall b�nd and benefit the succasors and assigns of Lender and Bonower,subject to the provisions of paragraph 9.b. i . Borrower's wvenants and agreements shall be joint and several.Any Borrower who co-signs this Security Instrument but does '_ not execute the Note:(a)is co•signing this Security Instrnment only to mongage,grant and convey that Bonower's interest in . . the Property under the terms of this Secur�ty Instrument;(b)is not personally obligated to pay the sums secured by this Security _:- Instrument; aad (c) agrees that Lender end any other Borrower may agrec to e�tend. modify. farbear or make any - . accommodations with regard to the term of this Security instrument or[he Note without that Borrower's consent. i ; l3.Nodca.Any noda to Borrower provided for in this Security Instrnment shall be given by delivering it ar by mailing it by - titst class mail uNess sypllcable law tequires use of another method.The notice shall be directed to the Propeny Address or any ' other address Horrower designates by notice to Lender.Any notice to Lender shall be given by first class mail to Lender's address , stated heroin or xny addras T.ender designates by notice to Borrower.Any notice provided for in this Security lnstrument shall � ; be deemed to have ban given to Borrower or Lender when gicen as provided in this pazagraph. — � 11.Gorerai��Law;SeverabWty.This Security Instrument shall be govemed by Federal law and the law of the jurisdiction in '� ' which the Property is located.In the event that any provision or clause of this Security lnstrument or the Note conflicts with ap- F • : plicabk law, such conflict shall not affect other provisions of this Securicy Instrument or the Note which can be given effece � � without the coaflicting provisi�n. To this end ths provisions of this Security lnstrument and the Note are declared to be = severabie. ��.� ; 15.Borrower'�Copy. Borrower shall be given one conformed copy of this Security instrument. � 16.As�nmeet oi Iteuti.Bonower unconditionally assigns and transfers to Lender all the rents and revenues of the Property. , . Bonower authorizes Lender or Lender's agents to collect the renu and revenues and hereby directs earh tenant of the Property to pay the rents to Lender or Lender's agtnts.Howevct,prior to Lendcr's notice to Bonower of Borrower's breach of any cove- nant or agreement in the Security Instrument,Bonower shall collect and receive all rents and revenues of the Property as trustee for the benefit of L.ender anc�Borrower.This assignment of rents concti�utec an absolute accignmenr and not an acsignment for additional security only. !f Lender gives notice of breach tQ Borrower:(a)all rents received by Borrower shall be held by Borrower as trustec for benefit of Lender only,to!�e applied to the sums secured by the Security tnstrument;(b)Lender shall be entitled to collect and receive all of the rents of the Property;and(c)each tenant of ihe Property shall pay all rents due and unpaid to Lender or Lender's agent on Lender's written demand to the tonant. $orrower has not executed any prior assignment of the rents and has not and will not perform any act that would prevent Lendet from exercising its rights under this paragraph 16. Lender shall not be requited to enter upon,take control of or maintain the Property before or after giving notice of breach to Bonower.However,Lender ot a judicially appointed recei�er may�o sa at any time there is a breach.Any application of rents �" -` - shall not cure or waive any default or invalidate any other right or reme�;of Lcnder.This assignment of rents of the Property ' shall terminate when the debl secured by the Security Instrument is paid in full. �� � � �tt t� . �..�� �_ _. _, _. . ._ _ - - .... .w . _ .._._.�;-_ ,/.z _ .�J � ��v.�aa�t - :.�"r�;�.-, ----- - ----_._._...._____�__�__.__�..-- . •---------�-- -•--,•.,_�.-._- . _y 3_ u,'�':dy 1 '�"i,��! ... .. . . ' � . „ �•4� , . �'_ , . �' .