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(b),8" Without Credit Approval. Lender shall. • if p"Itted by appli able few end with the pricy- approval v1 the - S petYx rliquirI immediate payment in full of all the, auras warred by this Security ins1rurtirent it: < M or part of the Property is othanvlse transfarred (other than by divvise or decent) by the Borrower. and' (1) The Property is not 000upted by the purchaser or grantee as his or her primary or secondary residence, or the purchaser of grrmis doss art: occupy the Property but his or'her aedh has not been apprmad In'scoordance with the requirarnents : • - o/ Ctrs Sertarry . ... . No- 'WslMw. At claopnatanim ocau that would permit Lender to require frrxrrrisie psynterat art full , but leerier dries not require such payments, Lender does not waive its rights with respect to subsequent events. (d) Regulations. of. HUD Secretary. In many drtaurnstarim regulations Issued by the Seaelary will Britt Larder's rights. In the case of payment defaults, to require krtmeeiate payment in full and foreclose it not paid. This Security fnstmiment doss M authorize awA teration or foreclosure if not partni d bl► regulations o1 the Sao early. 10. -Reinellateirient. Borrower has a right to s.3 rehatated it Lender has required I rn eclkle psyrnent In tuts because of f Borrowers fa xj to pay an amount due under. the Note or this Security krstrurnerrL This right applies even saucer faredoawe proceedings aro'ins*uted. ' To .reinstate the Security Instrument, Borrower shall twrder In a king sum all amounts ra[trrired to bring Borrower's aerount cume tt inducing. to the extent they are obligations of Borrower under this Security instrument. foreclosure costs and ressonabte and, attomeys' fees and expenses property assodated with the foreclosure proceeding. Upon rekrstaternerd by Som wer, this Security instrument and the obligations that it secures shall remain in effect as If Lender had not required Immediate 4 : i payment in full. However. Lender- is not required to' permit reinstatement U: (i) Lender has accepted reinstatement after the corrtrrnencement of foreclosure proceedings within two years immediately preceding the commencement of a current foreclosure proceeding. (h) reinstatement will preclude foreclosure on different grounds in the future, or (fl'i1 reinstatement will adversely affect the priority of the Ben created by this Security instrument. 11. Borrower Not Released; Forbearance By Lender Not a Waiver. 6dension of the time of payment or modification of arnorNtation of the sums secured by this Security Instrument granted by Lender to any successor h interest of Borrower shall not operate to release fhe liability of the orOW Borrower or Borrower's successor in interest Lander shall not be required to connnence proceedings against any successor In interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrows or Borrowers successors In interest. Any forbearance by Lender in exercising any right or remedy shag not be a waiver of or preclude the exercise of any right or remedy. 12. Successors and Assigns Bound; Joint and Several Liability; Co- Signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of lender and Borrower, subject to the provisions of i Paragraph g.b. Borrower's covenants 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 instrument only to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security instrument; (b) is not personally obligated to pay the sums secured by this Security instrument; and (e) agrees that Lender and any other Borrowermay agree to extend, modify. forbear or make any accommodations with regard to the teen of this Security instrument or the Note without that Borrower's consent. 13. Notices. Any notice to Borrower provided for In. this Security Instrument shalt be given by dethrering It or by Mailing it by first doss mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any • l 'other address Borrows designates by notice to Lender. Any notice to Lends 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. i 14. Governing Law; Severabillty. This Security instrument shag 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 applicable taw, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security instrument and the Note are declared to be severable. 15. 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 revenues of the Property. Borrower authorizes Lender or lender's agents to collect the rents and revenues and hereby d nKU each tenant of the Property to pay the rents to Lender or Lender's agents. However. prior to Lender's notice to Borrower of Borrower's breach of any covenant or agreement in the Security Instrument, Borrower shall collect and receive all rents and revenues of the Property as trustee for the benefit of Lender and Borrower. This assignment of rents constitutes an absolute assignment and not an assignment for additional security only. If Lender gives notice of breach to Borrower: (a) all rents received by Borrower shall be held by Borrower as trustee for benefit of Lender only, 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 tho Property shall pay all rents duo and unpaid to Lender or Lendar'e agent on Lender's written demand to the tenant. Borrower has not executed any prior assignment of tho rents and has not and will not perform any act that would prevent Lendci from exercising its rights under this Paragraph 16. -.. Lender shall not be required to enter upon, take central of or maintain the Property before or after giving notice of breach to . Borrower. Hdwever. Lender or a judlcialiy appointed receiver may do so at any time there is a breach. Any application of rents shall not cure or waive any default -or invalidate any other right or remedy of Lender. This assignment of rents of the Property shall terminate when the debt secured by the Security Instrument is paid in full. 17. Foreclosure Procedure. If tender requires immediate payment in full under Patragraph 9. Lender may Invoke the power of sate and any other remedies permitted by applicable law.,. Lender shall be entitled to collect. all expenses incurred .in pursuing the remedies provided in this paragraph 17, including, but not limited to, reasonable attorneys' fees and costs of title. evidence. If the power of safe Is invoked, Trustee shall record a notice o IN I I hick . .. � NiMOAitiANOuR . . F5713.GTI!nr 'JT 103t I �t r.� ul to •r .