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(@Y Ddm*. tender may. except as limited by regulations issued by the Secretary in the can of payment defaults, require Immediate Psyment in fog of all sums secured by this Secu ty Inmument if: (I) Borrower defaults by failing to pay in full any monthly payment required by this Security Instrument prior to of on the due date of the nert'mgnthiy payment, or _. (ii)Botroaradefaults by farft& fora period ofthirtydays, to perform anyoth a obftWomeonmined in ibisSectrit)r ynammOs InsauuaeaL ' im�madira 'mdsvhfti riatapprovaloftheSecreay, require p6ma is fnB� gns secured by (iy' AA a part of the Plape:ty is amarurise tlriosfeaad (otter thm by devise or desaeat) by the Boaawrr, amd (n The Property its sot oaupia( by mbar pustimper Of as his or berIximry or secoodsty residence, or mbar purrdmw or gtasasedoea sp om" mdse hcperty butt hb cr lreecrc& leas mt bees app mcd is aeaonisou>e with tbt mquuaautreu>LSS aftbe Seuaetay. (e) Nei WaWee if dramostancr: coax that would permit Lender to require immediate payment in full, but Lender does not require sad payments, Lender dons not waive its rights with respect to subsequent events. (6) of EIUD Senehey. In many circumstances regulations issued by the Secretary will limit Lender's rights, in the case of payment defaults, to require immediate payment in frill and foreclose if not paid.'17mis Security Instrument does not authorize acceleration or foreclosure if not permitted by regulations of the Secretary. 0 lAsimodamment. Borrower has a right to be reinstated if Leader bas required immediate payment in full because of Bonomm's in%= to pay an amoumt due under the Note or this Security Insaument. This right applies even after foreclosrre proceedings are instituted:. To reusstate the Security Instrument, Borrower shall tender in a lump sum all amounts required to brief Borrower's account current including, to the extent they are obligations of Borrower under this Secuft Instrument. foreclosure costs and reasonable and customary attorney's fees and expenses properly associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Security Instrument and the obligations, that it secures shall remain in effect as if Leader had not regt:ired immediate payment in full. However. Lender is not required to permit reinstatement if: (i) Lender has aotxpted reinstatement after the commencement of foreclosure proceedings within two years immediately preceding the commencement of a current foreclosure proceeding. (i) reinstatement will preclude foreclosure on different grounds in the future, or (ill) reinstatement will adversely affect the priority of the lien created by this Security Instrument. IL Baenwer Not Rdeased; Forbearance By Lad" Not a Waiver. Extension of the time of payment or modification of amortization of the sums secured by this Security Instrument grunted by Lender to any successor in interest of Borrower shall not oparr ..: to release the liability of the original Borrower or Borrower's successor in interest. Lender shall not be required to commence 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 Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 12. Successors and Atdpu Nomad; Joint and Several Ltsbi it); Cc- Suess. 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 paragraph 9.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 (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the term of this Security instrument or the Note without that Borrower's consent. 13. Nodes. Any notice to Borrower provided 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. U. Cioveta ft Law; SererWW tr. 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 be given effect without the conflicting provision. To this end the provisions of this Security instrument and the Note are declared to be severable. 13. BorrowWs Copy. Borrower shall be giver one conformed copy of this Security instrument. K. Aasipime t of Recta. 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 directs 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 cove- nant 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 the Property shall pay all rents due and unpaid to Lender or Lendcr's agent on Lender's written demand to the tenant. Borrower has not executed any.prior assignment of the rents and has not and will not perform any act that would prevent Lender from exercising its rights under this paragraph 16. Lender shall not be required to enter upon. take control of or maintain the Property before or after giving notice of breach to Borrower. However, Lender or a judicially 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. /'age ? 0 J .f: .r N r�