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1050 4 - VrGeaanis for ,Acal rs" it DOL 1 (a) Dd* f. Lender may, except as limited by regulations issued by the Secretary in the case of payment defauhs.,require immediate payuaeat in foil of all sums secured by this Security instrument if: (i) B=ower et detan2ts by failing to pay in full any monthly paymefit required by this Security Instrument prior to or on the due data of the next4;aonthly bayment, or, (U) Bow defaults by f iiling, for a period of thirty days, to perform any other obligations contained in this Security . a = IntdUsaen - payrii6s4 its fbi ofd ibt: arms secured by this 3acurity Imtrttmenc W' (i) Alt or°pact of ft �y is otlterwin trade i xted (ather dm by devise or &so=) by the Borrower. and } ' i (n7 The t►roperty is not ooetr)riad by rho pcmc>satar cs grar>aee as [cis or her prim" as seaonduy tesideaa, a the puurhases or St lop do ta000apythe: Ptopeaybethisorherauditinsaotbeenapprovedinac &mbneewilttherequire oftineSect�sq;. (e) No Wage'. If circumstances occur that would permit Lender to require immediate payment in full, but Lender does not require each payments6 lender does not waive its tights with respect to subsequent events. (d) Replan of WD Seastm., In many circumstancea regulations issued by the Secretary will limit L.endees fights, in the caw of payment default% to require immediate payment in full and foreclose if not paid. This Security Instrument does not authorize acceleration or foreclosure if not permitted by regulations of the Secretary. ti. lialaMaE> sR. Borrower has a right to be reinstated if Lender has required immediate payment in full hearse bf Borrower's full to pay an amount due under the Note or this Security, InstrumenL This•right applies even after foreclosure proceedings are instituted. To reinstate the Security Instrument, Borrower shall tender in a lump sum all amounts required to bring Borrower's account current including, to the extent they are obligations of Borrower under this Security Instrument, foreclosure costa and, reasonable and customary attorney's fees and expenses property associated with the foreclosure proceeding. Upon reinstatement by Borrower, this_Security Instrument and the obligations that it secures shall remain in effect as if Lander had not required immediate payment in full. However, Lender is not required to permit reinstatement if: (7 Lender has accepted reinstatement after the commencement of foreclosure proceedings within two years immediately preceding the oommeueement of a current foreclosure proceeding, (ii) meat will preclude foreclosure on diffareut grounds in the future, or (iii) reinstatement will adversely affect the priority of the lien created by this Security Instrument. 11. )renewer Not Relented; Fotbeanow By. Lawler Not a Waiver. 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 - - - - -- operut toiTease�imeimabitirq oftfie�rtgimd BarrawarorBorrower's succ�orurimerest:�xtmder -sha}I sot 6e- r�tuired- tcs - - -- - commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums soared 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 i exercise of any right or remedy. i 12. Successors uW Anku Bound; Joint and Several Liability; ce Signers. The covenants and agreements of this Security ' f 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 or, y 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 inst• .iinent of the Note without that Borrower's consent. 13. Notices. 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 Add.*ess 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 Leader 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. Goven tag Law; Severabiiity. 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 f without the conflicting provision. To this end the provisions of this Securz3y instrument and the Note are declared to be severable. i 15. Borrower's Copy. Borrower shall be given one confo. med copy of this Security instrument. lei. An IVEMt of Rests. 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 cr 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 beapplicd to the auras 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 shall not be required to enter upon, take control of or maintain the Property before or after giving notice of breach to _ Borrower. However. header 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 or tents of the Property ' shall terminate when the debt secured by the Security instrument is paid in full. f� r '.v •4_ a