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!. Graatsdit for Awakmflott of Dthl, 90°-- 1t�6�5 (a) Ddm&. Ixnder tnty. except As limited by regulations issued by the Secretary in the case of payment defaults, require Immediate payment in full of all sumit secured by this Security Instrument if: the orrirower of theme i fmoathto payy In full any monthly paymehl required by this Security Instrument prior to or on (ii) Borrower defaults by failing, for a period of thirty days, to perform any other obligations contained In this Security IA+trtrl�nt- (b) S ak WYMM Crs t App mRal. Under shall, if permitted by applicabe law and with the prior approval of the Secretary, require iremediale pyment is Gill of all the sutra smiled by this Security Imtrunsent if: (i) All or part of the Property is txherwise transferred (other than by devise or descent) by the Borrower. and (ii) The pmpt:ty is aw occupIW by the purchaser or grantee as his or her primary or secondary residerm. or the purchaser or R,ramee does so am" the Property but his or her credit has not been appMmd in aoeoram with the raguitetaettts of the Secretary. (e) No Walar. If circumstances Occur that would permit Lender to require immediate payment in full, but Lender does not require such payments. Lender doer. not walva its rights with respect to subsequent events. (d) Raplatkaa of HUD SaarMy. In many circumstances regulations issued by the Secretary will limit Lender's rights, in the ease of payment defaults, to require Immediate 9WInwE in full aad foreclose if not paid. This Security Insstn=at does not authorize acceleration or foreclosure if not permitW by regulations of the Secretary. W. adndNeaatnt. Borrower has a right to lie refit,tated if Lender has required Immediate payment In ftafl because of Borrower's failure to pay an amount due under the Now or this Security Instrument. This tight applies even after foreclosm proceedlnp are instituted. To reinstate the Security Instrument. Borrower shall tender in a lump sum an amounts required to bring Borrower's account current iaciuding, to the extent tlrcy sae obligations of Borrower under this Security Instrument, foreclosure costs and reasonable and customary attorney's fees and expenses properly associated with the foreclosure protxaliaj. Upon reinstatement by Borrower. Security Instrument and the obligations that it secures shall remain in effect as if Lender had not required immediate payment in f�n):I. However, Lender Is not required to permit reinstatement if: (i) Lender has accepted reinstatement after the commencement of foreclosure proceedings within two years immediately preceding the future. commencement treinstatementtwill adversely of the priority tP� lien a�ed by this Security Instrumenttnt grounds in tltc 11. Borrower Not 1Rtieaatdl Fodwaranee By Leader Not a Waiver. Extension of the time of payment or modification vsf' amortization of the sums secured by this Security 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 reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbemmue by !Lender in exercising MY right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. IL Sets ani Ankaa Boamil.- Jain mud Sw-w l I.ia MIN Co- Sipets. The covenants and agreemems rif this Security Ittttrumenl shall bind and benefit the saocessots and assigns of Under and Borrower, subject to the provisions of paragraph 9.b. Bormwer's covenants and agreement sitar be joint and sevetal. Any Borrower who co -signs this Seruity Instrument but does not execute the Note: (a) is co- sfgnia$ this Security Instrument jn? v to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; (b) r, not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other ns -rower may agree to extend, modify, forbear or make any accommodations with regard to the term us +iris Sitiuity hn5t., -.:nc .t ar the Note without that Borrower's Con -nt. 13. Nodees. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first elm mail unless 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 shall be given by first class mail to Lender's addreu stated herein or any address Lender designates by notice to Borrow,,.. 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. 114. Governing Law; Sevetabhhity. This Security Instrument shall be governed by Federal law and the law of the jurisdiction in which the Property is located. Ira ahe event that any provision of :louse of this Security Instrument or the Note conflicts with ap• plkabie law, such comflict s'hO no, affect other provisions of tiles Security Instrument or the Note which can be given effect without the conflicting Provision. To this end the provisions ©e fts Security Instrument and the Note are declared to be severable. 19. Borrower's Copy. Borrower shall be given one confo. aced copy of this Security )nstrutneat. K. Asdgemat of Rents. Bono' wer unconditionally assigns and transfers to Lender all the rents rmd revenues of the Property. Borrower authorizes Lender or Lender's agents to collect the rents and revenues and hereby d)=xs each tenant of the Prolrrty, to pay the rents to Lender or Lender's agents. However. prior to Lender's notice to Borrower of lorrower's breach of any auve- nant or agreement im 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 run 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 far me -it 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 assigtmerri. 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 sball not be required to enier upon. take control of or maintain 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. This assignment of rents of the Property shall terminate when the debt secured by the Security Instrument is paid in full. Page 3 of 4