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+f f 7 . e; = �i�; :zap=„ !. tBfeartds fir Ateebratita of Debt. go°° 106409 (a) DdMW Lender may, except as limited by regulations issued by the Secretary in the case of payawnt defaulta, rcquire im- mediate payment In full of alls}stns secured by this Security Inurument if: lit a Borrower date of the rent (ailing t payment any monthly payment required by this Security instrument prior to or on ((i) Borrower defaults by failing. for a period of thirty days, to perform any otber obligations contained in this Security lattrument. ii [>�im � in M of AU ttM Lender ardired Security lInstrurneMiaw 1 wi t]t tine prior approval of the Saert4ary. cequlee if 0i All or part Of the Property is oeamjso transferred (other that by devise or d:tcent) by the Bottowrct, and (ii) Tlti Property is M OW44W by the parr hwa or 6ramee as his or her ptrimuY cc secondary Rsidence. Of the p►uchaxr Of gi - - F don so oowpy the Property but his or her credit Iran not bem sppnnvd in awotdmOC With the regairetnents of tl►e Soctstaty. (e) No Walrer. if circumstances does not oft woad permit eenderrarequire bsmediat event in full. but Lender does not r..gtrire such paym . rs, (d) ItMktlsarf of Ii_?JD SK a xy. In many circumstances regulations issued. by the Socretary will limit Lender's rights, in the can of payment defaulta, to require immediate payment in full and foreclose if not paid. This Security Instrument does not authorize acceleration or foreclosure if not permitted by regulations of file accrctaty. H. RelMUSCOw . Borrower has a right to be reinstated if Lender has rewired 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 obliptloas of Borrower under this Security Instrument, foreclosure costs and reasonable and customary attorney's fees and expenses Properly associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Security instrument and the obligations that it secures shall remain in effect as if Leader had not required immediate payment in full. However. Lender is not required to permit reinstatement if: (i) Lender has accepted reinstatement aRer the commencement of foreelosure proceedings within two Years immediately preceding the commencement of a current foreclosure proceeding. (9) reinstatement will preclude foreclosure on different grounds in the future, or ( iii) reinstatement will adversely affect the priority of the lien created by this Security Instrument. IL Borrower Not Released; Fasbesraaoe By Leader Not a waher. Extension of the time of payment or modification of arnoaf nation 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 cornmence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization demand m of the sums successors in in�erest.bAny this by�Leendevin exercising any right or remedy shall not bye a waiver of or preclude the exeraw of any right or remedy. IL Sooeasoss sad Asia gonad; JOIN and Sevefal LiablUty; Co- Sigaers. 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 Bormser who co -signs this Security lostrumest but does not execute the Note- Qa) is co- signing this Security instrument only to mortgage,. Brant and convey that Borrower's Interest in the Property under the terms of this Security Instrument; (b) is not personally ObL Zv=d to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify. forbcstr or make any accommodations with regard to the term of this Security instrument or the Note wiahout that Borrower's commit. U. Ngtl m Any notice to Borrower provided for in this Security Instrument shall, be given by dklivering it or by mailing it by first 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 shao be given by rust class mail to Lenders address stated herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security Inumment shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 14. Governing Law; Severabllity. This Secu&-g Instrument shall be governed by Federal law and the law of the jurisdiction in which the Property is located. In the event flat M 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 lnsm ment or the Note which can be given effect wiftut the conflicting provision. To this end the provisions of this Securi,- Instrurnent and the Note are declared to be severable. JS. Borrower's Copy. Borrower shall be given one conformed copy of this Security Instrument. ff. Assipsust of Rents. Borrower uncondidorally 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 - nauY Or agreement in the Security Instrument, Borrower shall collect and receive all rents and revenues of the Property as trustee for ite 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)• xa rents ceozavz.4 >vy Borrower shall be held by Borrower as trustee foc bem"it . of Lender only, to be applied to the sums secured by the 5ecurt; ilaarortrcmt; (b) Lender shall be entitled to coMm card ==%T ai of the trots of the Pmperty. and (c) each tenant of the Property sr., aE C "r all rents due and unpaid to Lender W-c Lmmdes agesi . on Lender's written demand to the tenant. f3k =wer has net executed any prior assignment of the rems sad has net and will not perCarm any act ¢[rat would RMOM Leader from .sey„o its rights under this paragraph 16. ' Lender shall acct. btrequired to enter upon, take control of or maintain the Po3petty before or after giving nad= of breach to Borrower. Howe so-,. L' mder or a judicially appointed receiver may do so at am?. time there is a breach. Any ag fication of rents shalt not rue or waive any default or invalidate art} other right or remedy of Lender. This assignment of rents of the Property shall terminate when the debt =erred by the Security Instru.m:Ltim is paid in full. Page 3 of 4 _ W - 7- t~ f , i f; f ..