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(2) Def,tt L Lender may, txcgX a limited by rqubtiow ir:uetl by the Sexetary in the em of lli !R d~ta. teq>rkte irnnrradia¢e paymon In full of all tttattara sectsrott by thk `5 c~.It, anmtUM it- 6) grower defaatirs by to to I*y in fatlt aW =att* paymak fregturhs d by tittle Seelarlity Im a un aut prior to or on the due date of the tracer monthly paytrsrant, or, ((ii) Borrowa defaults by faillnrw for a perbd of Oft days, to perform attar other obi ns c ontaitled In t6fa Scawky Itmstrurnent. tb) Std Without Craft Apf anvut' Leader shall, if prxnwted by aWlirsble law and with ft. prior appsavrd of the Secretary, rtsWAm immediate pay user in M of all tides stuns secured by this Seetrri►y Inatittmew if- (it All or part of the PmpeAy la odlerwise "naferred (odrrs *,mt by clovirt: or dlwvent) by the Borrower, and P The Property is not occuprmd by deer pt>fdwer or g ,''tk`Ws or her prkmy or secotttlary resi&MM, or the ptuchaw or 9mvx dace so oaapr ate Pru", brat his or her caft harm been approved in accoldame with the raquitemos of the Secretary. (c) No Waher. If circumstances dccttr that woukd permit Y:atadrr to teqtdm; u v. ;ate payment in full, but [.ender does not r quire such payments, Lender does not waive its rlg9e;x whh respect to stsimpwrit events. (d) Regulations of HUD wSme4,stry. in many dre=ut&boes replations Issued by the Secretary will limit Lender's rights, in the case of payment, def r:jt.3, f;, m%plire i tmmediatc Payment In full and foreciose if not paid. This, Security Instrument does mil authorize acceleration or foreclosure if not permitted by regulations of the Secretary, 10. Reinstatement. Borrower has a r+gbt to be reinstated if Lendr;t has required immediate payment in full because of Borrower's failure to pay an amomit due under the Note or this Security Instrument. This right applies even after foreclosure proceedings are instituted. 'To reinst;tte the Security Instrument, Borrower shall tender in a lump sum all amounts required to bring Borrower's account current z:-.Iuding, to the extent they are obligations of. Borrower under this Security Instrument, foreclosure costs and reasonable .ejd customary attar-ey's fees and expenses properly associated with the foreclosure proceeding. Upon reinstatement by t%arrower, this Security- instrument and the obligations that it secures shall remain in effect as if Lender had not required imrrleil at,; paymicrt in fail. However, Lender Is not required to permit reinstatement if: (i) Lender has accepted reinstatement after tine cotrstrencef,"m of foreclosure proceedings within two years immediately preceding the commencement of a current foric!osu-e pn-vi*edirtg, (ii) reinstatement will preclude foreclosure on different grounds in the future, or (ill) reinstatement Y-11! adversely tti va the priority of the lien created by this Security Instrument. 11. Borrower Not laorbeamm By Leader Not a Waiver. Extension of the time of payment or modification of amortization of the qv: -w% •::utod by this Security Instrument granted by Lender to any successor in interest of grower shall not operate to release tltr. 1:41;lity of the original, Borrower or Borrower's successor in interest. Lender shall not be required to commence proceedings atninst any successor in interest or refuse to extend time for payment or otherwise modify amortization of the stints uredl by this Security Instrument by reason of any demand msde by the original Borrower or forrower's successors in c tr.rest. Any forbearance by bender in. exercising any right or remedy shall not be a waiver of or preclude the exercise of a-~,,' Azht or remedy. 12, Swrces,aors and Assigns Bound; Joint and Several Liability; Co-Signers, The covenants and agreements of this Security In:strim,.p. at shall bind and benefit the successors and assigns of Lender and Borrower, subject to the pro visions of paragraph 9.b. Rorro'•arr'c covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does asst exti:ute time Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in 1i vopt:rty under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Ir-'trvment; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forb-ar or, stake any accommodations with regard to the term of this Security Instrument or the Note without that Borrower's consent. 13. NoOces. Any notice to Borrower providtd for in this Security instrument shall be given by delivering it or by mailing It by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's address stated herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 14, Governing Law; Severabl(Ity. This Security Instrument shall be governed 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 Instrument or the Note conflicts with ap. plicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can he given effect without the conflicting provision. To this .nd the provisions of this Security Instrument and the Note are declared to be ,crv-rabic. %i. Borrower's Copy, Borrower shall be given one Conformed copy of this Security instrument. 16- Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all the rents and revenue:: of the Property. Borrower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs each tenant of the Property to pay thp rents to Lender or Lender's agents. However, prior to Lender's notice to Borrower of Borrower's breach of any cove. nant or agreement in the Security Instrument, Borrower shall collect and receive all rents nn.l revenues of the Property as trustee for the berierit of Lender and Borrower. This assignment of rents constithtes an absolute assignment and not in assignment for additional security only. If Lender ga )es notice of breach to Borrower: (it) all rents received by Borrower shall be held by Borrower as trustee for benefit of Lender oni%,, to be applied to the sums secured by the Security Instrument; (b) Lender shall be entitled to collect and receive all of the rents of the Property; and (c) each tenant of the Property shall pay all rents due and unpaid to Lender or Lender's agent on Lender'ri vtritten demand to the tenant. torrower has not executed any prior assignment of the rents and has not and ,viii not perform any act that would prevent Lender from exercisinx its rights under this paragraph 16. ,,rr2der shall not be requin-d to enter upon, take cortirol of r.r maintain the Property before or after giving notice of breach to flonowtr, ilowevcr, Lender or a Judicially appointed receiver may do so at any time there is a breach. Ari,y application of re,Yts shall not cure or waive any default or Invalidaie any other right or remedy of I coder, 'T'his assignment of rents of the Prorcrty shall tenninvic when tare debt secured by the Security Inwumcru is paid in full. Purr 3 of 4 a..