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W= 104952 9. G. Aw Aeosbfit a of DOL i (a) Dee m& IRa6Cr tot►y, eecept as limited by regulations issued by the 8am1aw in the case of payment defaults, require- { immediate Wmabt in fa of all sums secured by this SM ritjr Instrument if: Botrmrtr defaults b)i failing to pay'tn full any monthly payment required by tt6a Security Instrument prior to or.oa due date of the tipct 1110 WY payment, or (1) Borrower defaults by failing, fora period of thirty days. to perform any other obligations contained in this Security -i iLeaftd all,- ifPesm�edbysppbcabie Weaad with ft pdor approval oftheSecretary. tie iomoedrirc apteat•is (lit efaie camas secured by Qua Secaetry Instrument ().Alt or p44 fr is otbe►wge ttraaferred (adsr am by devise or desomt) by the Borrower, and ' Cad ibe i$te�erty i "am oe�pied by the pur�chaaer oft Xraasee a his or ber primary or axeodary raideaoe. or the puerAaaer or gavot does so occupy do Pfopeny but his or hereto& ben not been approved in aoobrdaooe wildli the requites of the Seaemy- (t) No:Va:wt I€ dreumsa occur that would permit Lender to require immediue payment in full, but Leader does not . n qu'ae such payments Lender does not waive its tights with respect to subsequent events• (d)1ay9a ___ e; lRUD Sae Way. In many circumnanms regulations issued by the Secretary wM curt Lender's rights, in c the case of pyuZ t defaults, to requireimmedi■re payment in full and foreclose if not paid. This Security Instrument does not authorin acceleration or foreclosure if not permitted by regulations of the Secretary. _. RalaahlesR•_ Bormsver has a right to be reinstated if Lender has required immediate payment in full because of Borrowes faihn o pay an amount due under the Note or this Security.instrument• This right applies even after foreclosure _ _proms lM,rmntnted. To reinstate tree Security instrument. iorrower shell tender -tn a ltnat¢Etinr -- brims Borrower's account current.including. to the extent they are obligations of Borrower udder this Smrity Instrumett, foreclosure costs and rrstsonable and customary. attorney's fns and expmses properly associated with'the foreclosure proceeding. Upon reinstatement by Borrower. this Security Instrument and the obligations that it secures shall remain in effect" if Lender had not required immediate payment in full. However, Lender is not required to permit reinstatement if: (i) Lender has accepted reinstatement after the conmicrteement of foreclosure proceedings within two years immediately preceding the commencement of a current forectMm proceeding, (ii) reinstatement will preclude foreclosure on different grounds inrtht future. or (iii) reinstatement will adversely affect the priority of the lien created by this Security Instrument. IL Sommer Not Rdewd; Forbearance By Leader Not a Wither. Extension of the time of payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successor in interest. Lender shall not be required to commetrce proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the strata 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 to exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. EL Stteedsera a" Aulps W; ?chat and Several l.iabWty; Co -SIpm, 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) r ►:ot personally obligated to pay the sums secured by this Security instrument; and (c) agrees that Lender and any other Hr ,rower may agree to extend, modify. forbear or make any accommodations with regard to the term of this Security In,- tfusrent v► the Note without that Borrower's consent. 13. Notim. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class nail unless apptiEable 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 i ender shall be given by first class maid to Lender's address stated herein or any address Lender designates by notice to Borrc tv.. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when g,ver. as provided in this paragraph. 14. Coves . Law; Se"rabWty. 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 provisio►s ur 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. LS. Ilorrower's Copy. Borrower shall be given one confc„med copy of this Security Instrument. fi. Asrd pa $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 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 bene6r 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 Lender'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 small not be required to emer 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 curt or waive any default or invalidate any other righl or remedy of Lender. This assignment of rents of the Property shall terminate when the debt secumd by the Security instrument is paid in full.