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r L F- 105672 9. Grains* for Aeeebrad" of Deit. (a) Defleall. Lender may, except a limited by regulations issued by the Secretary in the can of payment defaults, require immedittte payment in fug of all sums secured by this Security Instrument If: (i) Borrower defaults by failing to pay in full any monthly paymefrt required by this Security Instrument prior to or on the due date of the next monthly payment, or (g) Borrower defaults by failing, for a period of thirty days, to perform any other obligations contained in this Security Instrument. (b) Salle WOW Credit Approval. Lender shag, if penniued by applicable law and with the prior approval of the Secteuuy, require bmnediste payment in full of all due wants secured by this Security histtimmit if: (i) AN or part of rho Properly is otherwise tiarafened (other d wo by devise or descent) by the Borrower. and (ii) The Property is not occupied by the purchaser or grantee as his or her pr or secondary residence, or the purchaser or grantee does so occupy the Property but his or her credit im act been approved in accordance with the mquiremem of the Secretary. (e) No W ww. If circumstances occur that would permit Leader to require immediate payment in fug, but Lender does not require such payments. Lender dos not waive its fights with respect to subsequent events. (d) Regpddbo of HUD Secretary. In many circumstances regulations Issued by the Secretary will limit Lender's rights, in the case of payment defaults, to require immediate payment in full and foreclose if not paid. This Security Instrument does not authorise acceleration or foreclosure if not permitted by regulations of the Secretary. W. Relostatssraent. Borrower has a right to be reinstated if Lender has required immediate payment in full because of Borrower's failure to pay an amount due under the Note or this Security Instrument. This right applies even after foreclosure promedings we instituted. To reinstate the Security Irnatuannt, Borrower shall tender in a lump sum all amounts required to bring Borrower's amount current including, to the entcnt they are obligations of Borrower under this Security Instrument, foreclosure costs and reasonable and customary attorney's fees and expenses ;properly associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Security Instrument and the ob liSauons that it secures shall remain in effect as If Larder 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 ummmentxment of a current foreclosure proceeding, (ii) 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. 1L Borrower Not Rs4asedt Forbearance By Leader Not a Waiver. Extemion of the time of payment or modification of amortization of the sums secured by this Swurity 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 commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by season of any demand made by the original Borrower or Borrower's suoussors 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. U. Sumesaars aced Alas Bmadi Joint and Several LlabWty; Co- Sigpsen. 'The covenants and agreements of this Security Instrument shag bind and benefit the successors and assigns of Lender tad 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) Is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lendct and any other Borrower may agree to extend, modify. forbear or make any accommodations with regard to the terai or this Security Instrument or the Note without that Borrower's consent. 13. Nodees. Any notice to Borrower provided for in this Security Instrument shag be given by delivering it or by mailing it by first class mail unleu applicable 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 Lender shah 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 shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. U. Governlag Law; SeverailYty. This Security Instrument shag 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 Seeunty 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 then end the provisions of this Security Instrument uttct the Note are declared to be severable. U. Borrower's Copy. Borrower shall be given one conformed copy of this Security Instrument. U. Aasigaveesst of Rents. Borrower unconditionally assigns and ifamsfers to Lender all the rents and revenues of the Property. Borrower auuthorizes Lender or Lender's agents to collect time rents a-nd revenues and hereby directs each tenant of the Propw: ,, to pay the rents to Lender or Lender's agents. However. prior to Letaw:xr's notice to Borrower of Borrower's breach of any ,;,.mz- nett or agreemmt in the Security Instrument, Borrower +hall collect and receive all rents and revenues of the Property as trustee for the benefit of Lender nr." Borrower. This assignment of rents constitutes an absolute wilgriment and net 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. ens be applied to the surer secured by the Security Ins;r-t menu (b) Lender shall Be eseitled to collect and receive all of the rents of the Property; and (c) egrets r- ensint of the Property sharp pay all rents due and unpaid to Lender or Lender's agent on Lender's written Armand in rte tenant. Borrower has not exeviard any prior assignment , +f the rents &anti has not and will not perform any act that would prevent Lender (tow exercising its rights under this paragraph 16. Lender shall not be required to enter upon, take control of or tuawmrm 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 cure or waive any default or invalidate any other right or remedy of Lender. Thk assignment of rents of the Property shall terminate when the debt secured by the Security Instrument is paid in full. 116110 r .,r • 7 ilia; y d n I