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01"Im. PIN _ A.� - 9. Grawads for ACCdM bs+ of Dell. 9o-° 106390 (o) D~. lender may, except as limited by r¢ietttlons Issued by the Secretary in cite case of payment defaults, res(uire immediate payment in full of all sums muted by this Security Instrument if: (1) Borrow:r d.-faults by falling to pay in full any monthly paymetlt required by this Security instrument prior to or on the due date of the next monthly payment. or (11) Earrowcr defaults by failing, for a period of thirty days, to perfortr any other obligations contained in this Security Insittttnent. A) Sob Va&W Credit Lender drill, it permitted npptlabte taw and with the priorrtp}`tcwd of the Sectetaty, require irat:re .... f� in No of all the mina secured by this Secuft Instrument if: (i) All or pact of the Property is otherwise transferred (other than by devise or descent) by the DOMA te, And (u) Mw property 6 oat occupied by the purchaser or grantee as his or her priunary or secondary residem. or the purchaser or gataee does so cotxipy the Property but his or her credit has not been approved in swordance with die requiteoscnls of the Secretary. (e) No Walm. If circumstances occur that would permit Lender to require immediate payment in full, but lender does not Mquire such payments. Lender does not w,eive its rig lis with rcape:. to subsequent events. (d) Mcgduds" of HUD Secretary. In many circumstances rcidations issued by the Secretary will limit Lender's rights, in the am of payment defaults, to require immediate payment in full and foreclose if not paid. This Security Instrument does not autborize acceleration or foreclosure if not permitted by regulations of the Secretary. M. admigiument. Borrower has a right to be reinstated if Lender has required Immediate payment in full because of Botro*Ws failure to pay an amount due under the Note or this Security Instrument. This tight applies even after foreclosure proceedings are instituted. To rebLvXe the Security Instrument, Borrower shall tender in a Lump, sum all amounts required to bring Borrower's account current including, to tine extent they are obligations of Borrower under this Security Instrument, foreclosure costs and reasonable and ctutomcasy mtorncy's fees and expenses properly associated with the foreclosure proceedlW. Upon reinstatement by Borrower, this $=city Instrument and the obligations that it secures shalt retna)n in effect as if lrettder had not required hnmediate payment Pa ib[l. However. Lender Is not required to permit f: reinstatement i ())Lender has ro eYd reInsutetnent after the eorruaencement of foreclosure proceedings within two years immediately preceding Ma aonteenrent of a current foreclosure prohxeeding, iii) reinstatement will preclude foreclosure on different grounds In vice arost>;+� or (iii) reinstatement will adversely affect the priority of the Lien created by this Security Instrument. U. Borrower Not Released; Forbearance By Letader Not a Waher. Extendmi of the time of payment or alrAlfrcation of amortization of the sums secured by this Security Instrument granted by Lender to any successor In interest of 13omuiver shall not operate to release the liability of the original Borrower or Borrower's sucm --mar In interest. Lender shall nut ft required to commence proceedings against any successor in Interest or refuse to attend th= fc7 payment or orherwsee modify amortization of the summa secured by this Security Instrument by reason of any demand made by the origbwl Zctmwer or Borrower's successors In interest. Any forbearance by Lender in exercising any right or remedy shall not. s w dyer at or preclude clue exercise of any right or remedy. ; IL. Successors aced Assigns Boand; Joint and Several Liability; Co- Sigaers. The covenants and agreemeuls of th;s Security Instt4nxxzaeut shall bind and benefit the successors and assigns; of U,6kr and Borrower, subject to the provisions of go.-agrapb g:1. Borra,,wer's covenants and agreements shall be joint and severad.. <krtm Borrower who co-signs this Security Iustr== bun aces not execute the Note: (a) Is co- signing this SecuritF lustrcucteae'�'ti'y' to mortgage, grant and convey that Boaowsr's inresast Zm the Property under the terms of this Security Inter n, ('b) is roc; ersonally obligated to pay the sums secured by this Securxw Instrument; and (c) agrees that Lender and ar-a VTtier 2vr c%Xer may Wee to extend, modify, forbnr or make any accommodations with regard to the term of W-s Sezm&y Insru -,m% or the Amax. without that Borrower's crar 2- 13. Notices. Any notice to Borrower r ki,& -1 Trc ixt this SecurbT- Gastrument shall be given by delivering it erby mailing it by rust class mail unless applicable law requj s ust: of another met!Ecd. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Levi u r. Any notize to 1 ender shall be given by first class mail to, tender's address stated herein or any r blmss Lender designates 7�T• n2dct to Borrower. Any notice provided for in this Security Emr..tument shall be deemed to have Ewa given to Borrower or Erred - when given as provided In this paragraph. 11. Crovendog, is ahw , Severability. This Security Instrument shall be governed by Federal law and the law of the itu7sdiction in whiney, lite Property �y located. In the event that any provision or daise of this Security Instrument or the Note ace & +�M with aP- p =^l6 inflict shall not affect other provisions of ith Security instrument or the Note which can c5e wilWaul the cmonmmg provision. To this end the provisions of this Security Instrument and the Note use d= ".sy e. be severable. is. $orroweest Copr+3: Borrower shall be given corn confc..ned copy of this So wity Instrument. 16. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all the reos 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 Laider or Lender's agents. However. prior to Lender's notice to Borrower of Borrower's breach of any cove- nant or agreement in rite 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 'liorrower: (a) all rents receiaed by Borrower shall be held by Borrower as trustee for beae Pa. of Lender only, to be applied to the tuxm 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 ap 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. tluiv. w,owld 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 aft er iriiving 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. PORe 3 of 4 r 1r I