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<br />9. Groamb for Acceleration of Ikbt.
<br />(a) Defaalt, Lender may. except as limited by regulations issued by the Secretary in the case of payment defaults, require
<br />immediate payment in full of all sums secured by this Security Instrument if:
<br />(I) Borrower defaults by failing to pay in full any monthly payment required by this Security Instrument prior to or on
<br />the due date of the next monthly payment. or
<br />(il) Borrower defaults by failing. fora period of thirty days. to perform any othier obligttttioas eomained in this Security
<br />Instrument.
<br />(b) Sale Wilhout C:1t,edM Appno+cal. Leader sldl. dpernutted by spplicabk law and wrath the prior approval of dr Secretary, recpiire
<br />in imediate payment is fiA of all the sums secured by this Security Irmrtrunretit if
<br />i(i) All or pan of the Property is otherwise tramfereed ( other dun by devise or dewed) by the Borrower. and
<br />j gii1 Tim Property is not uxtupied by the purchaser or gasket as his or her primary or secondary residence, or the purchaser or
<br />gaanroe dais so occupy the Property but his or her cmdit ho not been approved in accordance with the requircmprs of the Secretory.
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<br />t (e) No Waiver, If circumstances occur thaa would permit Lender to require immediate payment in full, but Lender does not
<br />require such payments, Lender does not waive its rights with respect to subsequent events.
<br />(d) Rgpdadow of HUD Seccetary. In many circumstances regulations issued by the Secretairy will limit Lender's rights, in
<br />the case of payment defaults, to require immediate payment in full and foreclose if not paid. This Security Instrument does
<br />not authorize acceleration or foreclosure if not permitted by regulations of the Secretary.
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<br />110. Whubdow nt. Borrower 'has a righl to be reinstated if Lender has required u:nmediaw payment in fauff because of
<br />Barrow.sr's failure to pay an air.. wnt due under the Note or this Security Insirioneni. This right applies even after foneosure
<br />proceedings are i»atituted. '1'o reinstate the Security lnstru•rnem. Borrower shall tend:r in it lumr sum all amounts required vo
<br />bring i3orrower'3 account current including. to the extent they are icabligadom of Borrower under this Security Ins•trurraenit,
<br />foreclosure costs and reasonable and custiomary attorney's fees rawd expenses properly assmia;eQ with the foreclosure
<br />pproceedino. Upon reinstatement by Borrower., this Security Instrument and the -obligations that it secure. sha00 remain In effect as
<br />if tender had not required immediate payment in full. However, t.ender is not required to permit reinstaaemem iff: (i) Lender has
<br />accepted reinstatement after the commencement of foreclosure proceedings withal two years immediately puceding the
<br />commencement of a current foreclosure proceeding, (ii) reinstatement will preclude foreclosure on different grounds in the
<br />future, or (iii) reinstatement will adversely affect the priority of the lien created by this Security Instrument.
<br />11. 9arrosxer Not Rchwd; Forb anasre S, Lead" Not a Waiver. Extension oft .e ;lire of payment of modifivation of
<br />amortization of the sums secured by this Security Instrument granted by I ender to any successor in interest of Borrower shall not
<br />operate to release the liability of the original Borrower or Borrower'% successor in interest. Lender shall not he required to
<br />commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortiration
<br />of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's
<br />succeuors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the
<br />exercise of any right or remedy.
<br />12. Snecusom and Aralgas Boundt Joist mad Several Liability; ( s►•tilgism. The covenants and agreements of This Se urity
<br />Instrument shall bind slid benefit the successors and assign~ of 1 ender and Borrower, subject to the provisions of paragraph 9.b.
<br />Borrower's covenants and agreements shall be joint and several. Airy Harrower who cis• signs this Security Instrument but does
<br />not execute the Note: (a) is co-signing this Security Instrument un•y to mortgage, grant and convey that Borrower's interest in
<br />the Property under the terms of this Security Instrument, (1•) ,, :.-t personally obligated to pay the sums secured by this Security
<br />Instrument; and (c) agrees that lender and any other Itr.rrower way agree to extend, modify, forbear or make any
<br />accommodations with regard to the terns of this Security Imi...,ocni .•r the Note without that Borrower's consent.
<br />13. Notleea. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by
<br />first class mail unless applicable law requires use of another method. 1 lie notice shall be directed to the Property Address or any
<br />other address Borrower designates by notice to Lender, Any notice it) 1 ender shall be given by tirst class mail to Lender's address
<br />stated herein or any address Lender designates by notice to Wirrov io . Any notice provided for in this Security Instrument shall
<br />be deemed to have been given to Borrower or Lender when g. +en as provided in this paragraph.
<br />16. Governlall Law, Severablgly. This Security Instrument shall be governed by Federal law and the law of the jurisdiction in
<br />which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with ap-
<br />plicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect
<br />without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be
<br />severable.
<br />18. Borrower's Copy. Borrower shall be given one confuimed copy of this Security Instrument.
<br />16. Asallpaawat of Rents. Borrower unconditionally assigns and transfers to Lender all the rents and revenues of the Property.
<br />Borrower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs each tenant (if the Propeny
<br />to pay the rents to Lender or Lender's agents. However, prior to Lender's notice to Borrower of Borrower's breach of any I ove-
<br />nant or agreement in the Security Instrument, Borrower shall collect and receive Al rents and revenues of the Property astrustee
<br />for the benefit of Lender and Borrower. This assignment of rents constitutes an absolute assignment and not an assignment for
<br />a+drliflonal security only.
<br />If Lender gives notice of breach to Borrower: (a) all rents received by Borrower shall he held by Borrower as trustee for henelit
<br />of Lender only. to be applied to the sums secured by the Security Instrument, (h) Lender shall be en titled to collect and receive all
<br />of the rents of the Property; and (c) each tenant of the Property shall pay all rents due and unpaid to Lender or I- ender's agent
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<br />Borrower has not executed any prior assignment of the rent% and has not and will not perform any act that would prevenr
<br />Lender from exercising its rights under this paragraph 1h.
<br />Lender shall not be required to enter upon, take control of c,• r•.rrin :air. ;he Pr•w+rr; ".erode .rat A5 "tr 80161ttg r,.atur cs.' M rea`Yr t,,�
<br />Borrower. However, Lender or a judicially appointed receiver rrur;..d.c tc a•: azc, ...,ne :nrte:v a hre -ao, %ny applrcair. :n d,Jr,a!%
<br />shall not cure or waive any default or invalidate any other rig;, : .c: -t,!, ,;c;,. -,r aviWer Tlm: miign,rnm ne rews of itie I'mr•r:
<br />shall terminate when the debt secured by the Security lmsarumeni is paid vin hmll.
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