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<br />13. Notices. Any n&ULCZo Borrower provided for in this Security lnstrumemshall be given by delivering it or by mailing"
<br />by, first class mail urtiess, applicable law requires use of another method. The n:t Ocz shall be directed to the Property Address
<br />-ir any other address Hom mcr, designates by notice to Lender. Any notice to Lender`: hall be given by first class mail to Lender's
<br />"• --tared, herein or arty address Lender designates by notice to Borrower. Any vt�:ice provided for in this Security instrument
<br />_ ==_ =" be deemal to have been given to Borrower or Lender when given as proii$ed in this paragraph.
<br />14. Governing taw;, tael- erability. This Security Instrument shall be goterried b}` Federal law and the law of the jurisdiction
<br />which the Property: is leca.ted. In the event that any provision or dattse Ofl'bii, Security Instrument or the Note conflicts
<br />:.: applicably ia\a:; ,sudi- con tlict shall not affect other provisions of this SeAzu,ri :t.y Lmstrument or the Note which can be given
<br />without theoantlsceiag provision. To this end the provisions of dais Scrtgrit} Instrument and the Note are declaredlu
<br />.= severable.
<br />15. Barrawer."s tlr'wlpr.; Qorrower shall be given one conformed copy of this Security Instrument.
<br />16. AWgntnenlef Menu. Borrower unconditionally ussigns and transfers to Lt:rder all the rente, and rewnues of the Property.
<br />mower authorizes Lendero r Lender's agents to collect the rents and resenua� and hereby dinmts each tenant of the Property
<br />pay the rem%ro Lender or Lender's agents. Hauc.er• prior to t.cn,fer'; notice to Borrower of Borrower'-- breach of ant
<br />--variant, car: at mgment in the Security instrument. Borrower Nhall „galled and rccci%c all reins. and revenues of the Property
<br />_= trustee fire elt:e benefit of Lender and Borrower. This assienmeni' irf rents constitutes an absolute assignment and not an
<br />lzc ^?ant fog additional security only.
<br />If Lender gives nolicG of breach to Borrower: (a) all rents rcceiscd by Borrower shall be held b% Borrower as trustee for
<br />--__tt of Under onl;. to be applied to the sums secured by the Security Instrument; (bi Lender shall he entitled to collect
<br />receive all' of the rents of the Property: .and to each tenant of the Property hall pay all rents due and unpaid to Lender
<br />Lender's agent on Lender's wrinen demand to the tenant.
<br />Borrower has not executed any prior assignment fit' the rents and has not and \sill not perform an% act that \sr,uld present
<br />.ender from exercising its rights under this paragraph 16.
<br />I -ender shall not be required to enter upon, take control of or maintain the Property hct\orc or after tn%im` notice of hrc.a,h
<br />Borrower. Howcser. Lender or a judicialh appointed reccher max do so ai an% time tr.cre 11 a breach. %n% apph ;arwn
<br />rents shall not cure or wai.c an% default or imalidatc any other rich) \sr rented% tit I ender. t ht, astenmeni tit ter.,, tit
<br />= Property shall terminate.%hen the debt secured h% the Security Insrnu lent i. Isaid to full.
<br />Any application of the proceeds to the principal shall not extend or postpone the due date of lice monthly payments, which
<br />are referred to in Paragraph 2, or change the amount of such payments. Any excess proceeds over an amount required to
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<br />pay all outstanding indebtedness under the Note and this Security instrument shall be paid to Cite entit) legally entitled thereto.
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<br />A. Fees. Lender may collect fees and charges authorized by the Secretary.
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<br />9. Grounds for Acmelerallon of Debt.
<br />(a) Default. Lender may. except as limited by regulations issued by the Secretary in the case of payment defaults, require
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<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
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<br />or on the due date of the next monthly payment, or
<br />(ii) Borrower defaults by failing, for a period of thirty days, to perform any other obligations contained in this
<br />Security Instrument.
<br />(b) Sale Without Credit Approval. Lender shall, if permitted by applicable law and with the prior approval of the
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<br />Secretary, require immediate payment in full of all the sums secured by rhis Security Instrument if-
<br />(I) All or part of the Property is otherwise transferred (other than by devise or (im -ent) by the Borrower, and
<br />(ii) The Property is not occupied by the purchaser or grantee as his or her pr'rm;,uy yr secondary residence, or the
<br />purchaser or grantee noes so occupy the Property but his or her credit bas not laden approved in accordance with
<br />the requirements of the SouT!ary,
<br />(c) No Walver. If circumsta pus .%-cur that would permit Lender to requi.reirt-.vae,�:is3p payment in full, but Lender
<br />j•;? <, , ;rtiU:;% -
<br />does not require such payments; Lender does not waive its rights with feqpf,.•i:• rra si&n; ;uent events.
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<br />(d) Regulations trf U Ic: D Secretary. In many circumstances regulations issdev;1 7e --.hi &-cm. 5-cm.ary will limit Lender's rights
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<br />in the case of payru'mt defaults to require immediate payment in full and tarni$,ose if not paid. This Security Instrument
<br />(f/
<br />does not authorize acceleration or foreclosure if not permitted by regulations of the Secretary.
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<br />10. Reinstatement. Borrower has a right to be reinstated if Lender has required immediate payment in full because of
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<br />Borrower's failure to pay an amount due under the Note or this Security Instrument. This right applies even after foreclosure
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<br />proceedings are instituted -.To reinstate the Security Instrument. Borrower shall t -rider in a lump sum all amounts required
<br />to bring Borrower's account: ,--urrent including, to the extent they are obligations of 13,rrower under this Security instrument,
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<br />foreclosure costs and reasofialauo and customary attorneys' fees and expenses properly :,emaciated with the foreclosure proceeding.
<br />Upon reinstatement by Borrrs xticr, this Security Instrument and the obligations that it yac_ers sh3" re main in effect as if Lender
<br />had not required immediatepaptnent in full. However, Lender is not required to pert�ir -airs aseanent if: (i) Lender has accepted
<br />reinstatement after the cott,4stcement of foreclosure proceedings within two years i.mrar,3iately preceding the commencement
<br />:. a current foreclosure latias: ding, (ii) reinstatement will prelude foreclosurr flat ,aft rerent grounds in the future. or (IIi)
<br />reinstatement will adversely t3ffect the priority of the lien created by this Secrariy lr,,.arumetit
<br />11. Borrower Not Released; Forbearance B Lender Not a Waiver. Extery ior:r. ��i the time of payment
<br />By or modification
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<br />c, amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower
<br />�`?ll not operate to release the liability of the original Borrower or Borrower's suc.,vr in interest. Lender shall not be required
<br />commence Yro,:z<t.;ngs aga�:nst gay suczzsvr iii itaicrcai yr refuse iv rxicud iiute i',n 'frayuuui ter otherwise mvtiify amurircailuu
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<br />the sums secured by this Security Instrument by reason of any demand made by tic oergeinal Borrower or Borrower's successors
<br />in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of
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<br />n y right or remedy.
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<br />12. Successors and Assigns Bound; Joint and Several Liability; Co- Signers. The covenants and agreements of this Security
<br />instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph
<br />;.b. Borrower's covenants:and agreements shall be joint and several. Any Borrower who co -signs this Security Instrument
<br />h +�t does not execute the iotnn_: (a) is co- signing this Security Instrument only to mcartgage. grant and convey that Borrower's
<br />iraiaasi_ in the Property un&n the terms of this Security Instrument: (b) is not •pe-tionally obligated to pay the sums secured
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<br />ny this securini Instrument; and (c) agrees that Lender and any other Borrower errr;t agree to extend. modify, forbear or make
<br />F..
<br />y accommodations with regard to the term of this Security Insrrumetu or rh'� Note without that Borrower's consent.
<br />13. Notices. Any n&ULCZo Borrower provided for in this Security lnstrumemshall be given by delivering it or by mailing"
<br />by, first class mail urtiess, applicable law requires use of another method. The n:t Ocz shall be directed to the Property Address
<br />-ir any other address Hom mcr, designates by notice to Lender. Any notice to Lender`: hall be given by first class mail to Lender's
<br />"• --tared, herein or arty address Lender designates by notice to Borrower. Any vt�:ice provided for in this Security instrument
<br />_ ==_ =" be deemal to have been given to Borrower or Lender when given as proii$ed in this paragraph.
<br />14. Governing taw;, tael- erability. This Security Instrument shall be goterried b}` Federal law and the law of the jurisdiction
<br />which the Property: is leca.ted. In the event that any provision or dattse Ofl'bii, Security Instrument or the Note conflicts
<br />:.: applicably ia\a:; ,sudi- con tlict shall not affect other provisions of this SeAzu,ri :t.y Lmstrument or the Note which can be given
<br />without theoantlsceiag provision. To this end the provisions of dais Scrtgrit} Instrument and the Note are declaredlu
<br />.= severable.
<br />15. Barrawer."s tlr'wlpr.; Qorrower shall be given one conformed copy of this Security Instrument.
<br />16. AWgntnenlef Menu. Borrower unconditionally ussigns and transfers to Lt:rder all the rente, and rewnues of the Property.
<br />mower authorizes Lendero r Lender's agents to collect the rents and resenua� and hereby dinmts each tenant of the Property
<br />pay the rem%ro Lender or Lender's agents. Hauc.er• prior to t.cn,fer'; notice to Borrower of Borrower'-- breach of ant
<br />--variant, car: at mgment in the Security instrument. Borrower Nhall „galled and rccci%c all reins. and revenues of the Property
<br />_= trustee fire elt:e benefit of Lender and Borrower. This assienmeni' irf rents constitutes an absolute assignment and not an
<br />lzc ^?ant fog additional security only.
<br />If Lender gives nolicG of breach to Borrower: (a) all rents rcceiscd by Borrower shall be held b% Borrower as trustee for
<br />--__tt of Under onl;. to be applied to the sums secured by the Security Instrument; (bi Lender shall he entitled to collect
<br />receive all' of the rents of the Property: .and to each tenant of the Property hall pay all rents due and unpaid to Lender
<br />Lender's agent on Lender's wrinen demand to the tenant.
<br />Borrower has not executed any prior assignment fit' the rents and has not and \sill not perform an% act that \sr,uld present
<br />.ender from exercising its rights under this paragraph 16.
<br />I -ender shall not be required to enter upon, take control of or maintain the Property hct\orc or after tn%im` notice of hrc.a,h
<br />Borrower. Howcser. Lender or a judicialh appointed reccher max do so ai an% time tr.cre 11 a breach. %n% apph ;arwn
<br />rents shall not cure or wai.c an% default or imalidatc any other rich) \sr rented% tit I ender. t ht, astenmeni tit ter.,, tit
<br />= Property shall terminate.%hen the debt secured h% the Security Insrnu lent i. Isaid to full.
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