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r r- 90--- 105220 N. CmMads fee 400slermiea of Dom. (a) Ddhek. Leader may, tatapt as limited by regulations issued by the Secretary In the cans of paymdmt defaults, require immediate payment in full o1.B suns secured by this Security Instrument If: (1) Borrower defaults by failing to pay in full any monthly psymerlt required by this Security Instrument prior to or on the due date of the next monthly payment, or (ii) Borrower defaults by falllttg, for a period of thirty days. to perform any other obligations contained in this Security Instrument. (tau hit11M W Wd Credit Apptrwal, Lender shall. if ypeemitted by applicable law and with the prior approval of the Soci terry, n quire iaaas" payment to fhall of all the sums secured bb this Sdxatrity Iswnumdnu if. (i) AN or pat of the Property is otherwise transferred (other than by devise or deaoes t) by the Borrower, and (11) The Property is so occupied by the purchaser or grantee as his or her or mmodery stuidens+e. or the purchaser or gstwe dines s000m" do Property bra his or ber credit has oat bees apptvved is iooad - - t with tie raqudrormnos of der Secretary. (e) No Wal err. if ddrenrastatsces occur tlsat would permit Lender tro requke inusediste payment in full, but Lender does not ` require such payments, Deader does not waive its rights with respect to subsequent events. f std) RegNatleae of HUD Iiaidery. In many circumstances regulations issued ky the Secretary will limit Lender's rights, in Rhe case of payment defaults. to require immediate payment in full and foreclose of not paid. This Security lustrustiew does not authorize soosrerstion or foreclos.ae if not permitted by regulations of the Secretary. 16. Mdse ferasaL Borrower has a right to be reinstated if Lender has required tmmemiuc payment in full because of Borrowees failure to pay on amount due under the Note or this Security Iruintair O. This rigb( applies even •n; :er foreclosure pr are instituted. To reinstate the Security Instrument, Borrower shall tender in a lump sum all annums required to b wer's account current Including, to the extent they are obligations of Borrower tinder this Security Instrument, forecloaure costs and rawnabe and customary attorney's fees and expenses properly associated with the foreclosure prooeodlns Upon reinstatement by Borrower, this Security Instrument and the obligations that it secures shall remain in effect as if Reseda had not required immediate payment in full. However, Lender is not required to permit reinstatement if: (1) Lender has accepted reinstatement after the commencement of foreclosure proceedings within two years immediately preceding the commencement of a current foreclosure proceeding, (ii) reinstatement will preclude foreclosure on different grounds in the future, or (W) reinstatement will adversely affect the priority of the lien created by this Security Instrument. 11. Narrower Not ReNtwdi Forbeafew By I*WW Not a Wolver. extension of the time of payment or modification of f amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not j operate W release the liability of the original Borrower or Borrower's successor in interest. Lender shall not be required to f! casum nfoe proceedings against any successor in interest or refuse to extend time for payment or otherwise modil*y amortization of the sums secured by this Security Instrument by res ^on of any demand made by the original Borrower or Borrower's sueuesson 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. Saoeesso s gad Assigns Boandi Joint gad Several LIaMy; Co- Shgaem. 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 taragraph 9.b. Borrower's covenants and agyeements shall be joint and several. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) Is co-signing Chit Security Instrument any 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 Borr -wer may agree to extend, modify, forbear or make any accommodations with regard to the term of this Security Intl., went rat the Note without that Borrower's consent. U. Notkw, Any notice to Borrower provkkd for in this Snurity Instrument shall be given by delivering it or by mailing it by (first clae mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other add"" Borrower designates by notice to Lender. Any notice to I ender 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 steak be deemed to have beets given to Borrower or L.esider when aisen as provided in this paragraph. wGowraiag lassos SearabYMy. This Security Instrument shall be governed by Federal law and the law of the jurisdiction in 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 coat cthag provision. To this end the provisions of this Security Instrument and the Note are declared to be �:� ......sus. 19. Nertr wen's Copy. Borrower shall be given one cunft.IIs f copy of this Security Instrument 16. Asslgaatew of Rosid. Borrower unconditionally assigns and trreifets to lender all the rents and revenues of the Property. Borrower autbonres Lender or Lender'+ agents to collect the rents aim.,) revenues and hereby directs each tenant of the Protse7w to pay the rents to Lender or Imida's agents. However. prior to 1 tanner's notice to Wrrower of Borrower'% Mewl ,)F ant cow- num or agreement in the Sw -wn,.y Instrument, Borrower sh,ttl colifta and receive aN :rem% and revenues of the P* mnsrry as rresoee tsar file benefit of Lender atwt kWerawa, This assignment of rents conuitutes an absolute assignment and not an, assignment f4v aidditional security only. If Leaser Sim notice of breach to hewn: +.1n: (a) all rents recencd t y Borrower shall be held 0!, flottnwts sy trustee for benefit of Leader only. to be applied to the sums tirsured by the Security Instrument; (b) Leader shatl be tnmied dso cnUct and receive all ,0 Ow rents of the Pwpeny; send (c) each tenant of the Property stab pay all rents dear and unpaid to Lrater m- Lender's agent ,att, leader's written demand to the teutust. a,.••nr,r V. wee wr..Yri u.. wrr .,n....w .M of flu e�w,y ...A.. �� "_ -_tl .. -.... • w .......Lt Leader frosts ertercisimg ill rigbl6 uatler 11hu, paragraph 16. Lender shall not be requirod to enter upon, take control of err maintain the Propene W me wr :seer giving nntwc of breach to Borrower. However. Lender or a jtdiclaily appointed receiver may do us at any meet ,!"e w a Rvreach. Anv iqt„+Iscation of runs shell not cute or waive my default or invalidate any other right or remedy of tender This +ss.sytnanent s.f rents of the Property thrall terminate when the debt soured by the Security Instrument is paid in full. Net a III 1 7 7 . j f