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ziarft JUA -Z- Gcowmb tw Actelermlow a DM. 90-IOG299 (al lW"u. under may. cxcqn as limited by regulations Lmued by the Secretary in the case of payment defaulti. tcquirc immediate pay=t In fuU of all sums secured by this Security Insitunwrit If.- (I) Borrower defaults by failing to PAY in full any monthly paymcAt required by this Socutity Instrument pilot to or on thn due date of the next monthly payment. of (U) Borrower defaults by failing, for a period of thirty days. to perform any other obligations contained in this FMCUThY Instrument. (b) Sob Wkbm CFO& Awre"L I shall. if Pet J by applicable law and WM the pFkV aworal of" socretary. require irnmedift pgyineat in fuil of oil the um giccurod by this Security IUMMCM if-. (il Ali or part of the ftq" is otherwise tT*flsfbm5d (00" thm tl� devise (w desiceak) by The Borrower, and (ii) Me preltrty is to amom tj the purchaser or gramm as his or her pfirruiry or wcondary resider". Or ft PUnchaser Or V=w dDes so ocoo ft Property but his or ha craft has M been *MMVd in accordance with the requirements of the Secretary. M No Wdw. If circumstances occur that would permit Lender to require immediate payment in full. but Lender does not require such payments. Leader does not wue its Tights with respect to subsequent events (d) Rqpbftm of IFUD SocreMy. in many circumstances regulations issued by the Secreutry wiIJ limit Leader's fights. in ft caw of payment defaults, to reqp1re Immediate payment in full and faredose if not paid- This Security Instrument does not authorize acceleration or foreclosure If not permitted by regulalons of the Secretary. & atimnakmM. Borrower fin a right to be reinstated If Lender has required immediate payment in (W bemuse of sonowees failure to pay an amount due under the Note or this Security lftst=ment. M right applies even after foreclosure Vto . ccedings am instituted. To reinstate the Security tuarument, Borrower shall tander in a Jump sum all. amounts requir.W. to 4,e, nt Somwer's account current Includino. to the eudat they are obligatterm of Borrower under this SMMLY IMJVMWf- 9ticeelosure costs and reawnable and CUItOmArY attorney's fees and expe.ases lymperly associated witt the famnWOLM and thcobligauclisthat it sectim sbalt.remain imeMervas has the the IL No -we Not Released; Forbeeram 1h, laaft Not a Waiver. Extension of the time of payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shn1l not operate to release the liability of the original Borrower or Borrower's successor in interest. Lender shall not be reQuic%4d to voTmeme proceedings against any successor in interest or refuse to emend time for payment or otherwise modify amocromion of the sums secured by this Svcurity Instrument by reason of any dernand made by the original Borrower of B-=40SO's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of of Pred4e 1he exercise of any right or remedy. M Smeetwors and Ankm3 Saved; Joint awd Several Usbffigr. co.sfgsm The covenants and agreements of " 5--VareY Instrument shall bind and benefit the successors and assigm of Lender and Borrower, subject to the provisions of paragraft 9.1b. remeats shall be joint and several. Any Borrower who co-signs this Security Instrument but does EkkTower's covenants md as s interest in not execute the Note: (a) is coi-siWM this Security Instrument only to mortgage, grant and convey that Borrower the Property under the tam of this Security Instrument; (b) is no. personally obligated to pay ft sures,.jecurced by this Security Instrutment; and (c) agrees that Lender and any other E. -rower may agree to emend, modify. forbear or make any accommodations with regard to the term of this Security Insu nent or the Note without that BOTFowees Consent. 11, Nakes. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by malling it by fxm clan mail uidess applicable law requires use of another method. The notice shall be directed to the Property Address or any o2bef address Borrower designates by notice to Lender. Any notice to Lt: ndtr shall be given by first elm mail to Lender's address m-ted berein c�7 ws address Lender designates by notice to Borravi ci. Any notice provided for in this Security Instrument shall be deemed to haie been given to Borrower or Lender when given as provided in this paragraph. 14. Governing Law; Sevemblilly. This Security Instrument shall 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 Security Instnummt or the Note conflictswith ap. plicable law, such conflict shall not affect other provisions of this Security Instrument o: ov Note which can be given effect without the conflicting provision. To this end the provisions of this Sccurit3; Instrument and the 'No2e are declared br. severable. is. sorrowees Copy. Borrower shall be given one confz�. �-azd cogy of ltm Secu&,Y. !nst! rument. 16. An4laneent of Rents. Borrower unconditionally assigm, ' aRl t:=s5=s io . Lender all the rents and revenues of the FIXOMCM. Borrower authorizes Lender or Lender's agents to collect the rems amd revenues and hereby directs each tenant of the Property to pay the rents to Lender or Lender's agents. However, prior to; Lendn'saotice to Borrower of Borrower's Preach of any cove- nant or agreement in the Security Instrument. Borrower shall celket and remve all rents and revenues of. r.he Property as trustee for the benefit of Lender and Borrower. This assignment of rints constitutes an absolute assignment and, na.t an assilt=cat for &Iditional security only. If Lender gives notice of breach to Borrower: (a) all rents rectived by Borrower shall be held-by Borrower as trustee tor iment of Lender only. to be applied to the sums secured by the Security Instrument; (b) Lender shaffbe entidAd La-caRcct and receive all of the rents of the Property. and (c) each tenant of the Property shall pay all rents due and unpiUmr.. Leader or Lender's agent on Lander's written demand to the tenant. Borrower has not executed any prior assignment of the rents and has not and will not- peiform arw art that would prevent LeWer from exercising its tights under this paragraph 16. 1 Lender shall not be required to enter upon. take control of or maintain the Property beforeor after giving notice of limi4i to Borrower. However, Lender Or a judicially appointed receiver may do so at any time there is a breach. Any application 6frents shad 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. PaRe 3 of 4 N.— A-