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(i) Borrower defaults by failing to pity in fuze any monttuy Payment requuxu oy `3 0`uz,., ...- .......... -- the due date of the nod monthly payment, or Cii) Borrower defaulss by failing. for a lieriod of thirty days, to Perform any other obligations contained In this Swishy - .. Instruateat. (NSdeVV11A tCirtitApll+ sral. I sbakifPmmiitedbyapPiic+ ble law xd with the prior approvaioftitesectetary .More hnmedisse paymess in full of an an s®s seated by this security taabmnent if: M Ail or part of the Property is adierwLe traodared (odw than by devise or desorat) by the Borrower, and 1 Cn� The Ptr>�ty is riot occupied by, dW.par�ra or graasee as his a her prhm7 or aoiaond�y residence, a the.pardtoaa or � don ao ooivpy the piwapertybnt bkorber weds hsn not ban approved b a000rdtnoe with the regoaameda of the secretary- (e) Ns Wdm If circumstances occur that would permit Leader to require immediate payment in full. but Lender does not require such payments, Lender does not wain its rights with respect to subsequent events. (d) A gaidfaaa � Brun 8eaedr7. in many circumstance regulation isstred by the secretary will limit t tender's rights, in ' the case of payment defaults, 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. M. Raiaalaseatstart- Borrower has a right to be reinstated if Leader, has required immediate payment in fun because of 1 Borrower's failure to pay an amount due under the Note or this Security Instrument. This fight applies even after foreclosure proceedings are instituted. To reinstate the Security Instrument, Borrower 3118111 tender in a hrmp sum an amounts required to bring.Borrower's account current including, to the extent they are obligations of Borrower under this Security Instrument, foreclosure costs and reasonable and customary attorney's fees and • expeases properly associated with the foreclosure proceeding. Upon reinstatement by Borrower, this security Instrument and the obligations that it secures shall remain in effect as ' it Linder 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 within two years immediately preceding the commencement of a current foreclosure proceeding, (h) reinstatement will preclude foreclosure on different grounds in the future. or (Iii) reinstatement will adversely affect the priority of the lien created by this Security Instrument. s 1111- >tarrewer Not Released; Foebearaaex By Lendsr Not a Waltrer. Fartensioa Of the time of payment or modification of • amoniation of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not - ape:ate to release the liability of the_original Borrower or Borrower's successor in interest. Lender shall not be required to — —{ — — against any successor in interest or ref •use fo eiitend ffine for payment arZthcrwisemodify amortlxaiian ; commence proceedings again of the sums secured by this Security Instrument by reason of any demand made by the original B�nower or Borrower's attocessora in interest. Any forbearance by Lender in exercising any fight or remedy shall not be a waiver of or preclude the exercise of any fight or remedy. 12. Succasors, and Assigns Bound; Joint and Several Liability; Co-Signers. The covenants and agreements of this Security { i 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: (0 h co- signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in t 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 tern of this Security .instrument or the Note without that Borrower's consent. 13. Noakes. 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 duetted to the Property Address or any r other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lenders 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. Goveratfg Law; SemabWty. This Security Instrument shall be governed by Federal law and the taw of the jurisdiction in which the Property is located. in the went that any provision or clause of this Security Instrument or the Note conflicts with ap- plicable itut the conflicting provision. n• To this end provisions e this th�isuSeeiuitir Instrument and the Noe ace declared to be severable. IS. Norrowees Copy. Borrower shall be given one conformed copy of this Security Instrument. ! "p 16. Aadgatatat 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 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) an 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 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, Lender at 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 of invalidate any other right or remedy of Lender. This assignment of rents of the Property shall terminate when the debt secuiid by the Security Instrument is paid in full. 1age; (if 0