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!. crwnia [er Aoal$r.tioa of DaM. 90.106292 (a) Defa . Lender rtsay, except as limited by regulatlons Issued by the Secretary in the case of payment default$, raauire Immediate payment in full of all sums secured by da Security Instrumrnt if: (I) Blortawer defaults by failing to pay in full any monthly paymetlt required by this Security Instrument prior to or on the due date of the next momthlY Payment- or (ii) Borrawc r defaults by falling, for a period of thirty days, to perform any other obligations contained in this Security itutrument. (b) &b WA94 CredIt Approval. Lender slug. if permitted by applicable law and with the prior approval of the Secretary, require im madim payrncal in fdl of all the sums secuted by this %Wtl Y ImonrmeM if: (n AB or pan of the Prop" is otlterwim u mfemd (other than by devise Of desot:n) by the Borrower, and (ii) The Property is na occupied by the purchaser or grams as his or her primary or secondary residence, or the IX=haser or gtru ft does so oocuq)y the Ptnpaty but his or her cmdit has not bow aplxnved in aeoordance with the nequireutaxs of the Secrdaty. (c) No Wsiri:e If cireutnstences occur that would permit Lcnder to require itnmedisto payment in frill, but Lender does not regpim such: peymearr, T -outer does not waive its rfabts with respect. to Subsequent events. ((j) Megadet+Eatas Tn. many issued by the Secretary wilt limit Lender's rngb ts, in ft =0 of inm7m ts: dre<au)m rig rNpir -e intmediap.e p* --m2nt h Ul and foreclose if not paid. This Security instrument does not Dubatixr: I,Wxzr don .oc Gct-cdQSrue If: nZ Verm,med Ibg r,wAW-ulas of the Secretary- . x4bmaut"mm. Borrown.. 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 proceedings are instituted. To reinstate the Security Instrument, Borrower shall tender in a lump sum all 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 expenses properly associated with the foreclosure praoeeding. flpon reinstatement by Borrower. this security Instrument and the obligations that it secures shall remain in effect as PLender had not required immediate payment in full. However, Lender is not required to permit reinstatement if: (1) Lrnder has accepted reinstatement after the commencement of foreclosure proceedings within two years immediately preceding the commencement ureor (iii) reinstatement will foreclosure ll advmelproceeding. affect c�nh epriorii of the lien created buy foreclosure on Inu umfent�t grounds in the 11. Deneww Not Admetil Rotbsanme By Losiar Not a WNraa BxtensiOn of the time of payment or modif cation of 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 forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. IL saesaasers mad Assigns 111m art 261111 lad Saural Lhbift. Co -S*wm 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 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 In;exuts MU_.s (e) nereec that Lender and any other Borrower may agree to extend, modify. forbear or make any accommodations with regard to the term of this Security instrument or the Note without that fsorroarer`s cen=t. 13. Notices. Any notice to Borrower provided for in this security Instrument shall be given by delivering it or by mailing it by fast class 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 fast class mail to Lender's address stated herein of any address Leader designaus 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. covenirg Law; Sevembilit7. This Security Instrutent shall be governed by Federal law and the law of the jurisdiction in which the Property is located. in she 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 tht Note which can be given effect without the costili"M ploviSiOn. To this end the provisions of this Security Instrument and the Note are declared to be severable. 15, Borrower's Copy. Borrower shall be given one conformed copy of this Security Instrument. 16. Aulpmeat of Rents. 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) all 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 an 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 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