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t l r r� {� "„5:�';}it:✓]�:�..i..� i. ; :YIr'i i+ °t t,:�,i;'Tf %'.'.i ir`: 4i:1 1 1i ?i:Y'- 4`2'•S ' t1 V t.t : 1 . Cl' i ht 1..: , i Y -t- i. . tt. \ _�i•�j t -d L i` -, ,\�. •.:1]l;7 T, i. .— — _— � i� 1 5 -4:44. -_. It }rl _ - 5 •Jr+�.Jn,i(•.i�F ,4,, -. 5,r .,r 'r d �'!`i _ f`�ti; ` _ ;.5' r "fit f �y .�, -- y�,�.- +.,i4 -- 90- -=10 .- 9. Granada for Accektation of Debt. - (a) DefaiM. Lender may, except as limited by regulations issued by the Secretary in the case of payment defaults, rewire - immediate payment in full of all sums Secured by this Security Instrument if: (i) Borrower defaults by falling to pay in full any monthly payment required by this Security Instrument prior to or on the des date of the neat monthly payment. or (ii) Borrower defaults by faiths, for a period of thirty days, to perform any other obligations contained in this Security ' Instrument. -k_ -- (b) Sale Will w Credit Apptroral. Lender shall. it permitted by ipi liable taw and with the prior approval of the Secretary, mwire - immediate payment in full of all the suns secured by this Security Instrument if: (t) All of part of the Roperty is otherwise transferred (other that by devise or des ) by the Borrower, and (ii) The Property is trot occupied by the Purchaser or granwe as his or her prtmuy or woo dary residence. or the purchaser or grantee does so ootupy the Property but his or her credit has not been sppnnod in acrardatno with the rr:qu mmenti of the Secretary. (e) No Wattrer. if circumstances occur that would permit Lender to require immediate payment in full, but Lender does not require such payments, Lender does not waive its rights with respect to subsequent events. (d) Regalatdoas of EETJU secrenry, in many cimunstanees rnulatium issued by the Sctiretary will limit Lender's rights. in the case of payment defaults, 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 the Secretary. f!. ReingaterreeaL Borrower 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 proceeding. Upon reinstatement by Borsowet. this Security instrument and the obligations that it senses shall remain in effect as if Lender had not requited immediate Mattat in full. However, Lender is not required to permit reinstatement if: (1) Lender has accepted reinstatement after the commencement of foreclosure proceedings within two years immediately preceding the commencement of a current foreclosure proceeding, (b) 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 uocmwei, Not Released; Forbearaaex By Leader 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 shall not operate to rdcase 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 Zarrower'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 Saeeesaon and Assigns Barad; Joint and Several Liability; Ce- Siii;merr. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lend= and Borrower, subject to the provisions of paragraph 9.b. Borrower's covenants and agreements shall be joint and several.. Anv Bonower who co -signs this security Instrument but does not execute the Note: (a) is co- signing this Security lnsIm went only to moTtgage, 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 Instrument. and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with restard to the term of this Security Instrument or the Note without that Borrower's consent. 13. Notices. Any notice to Borrower provided for in this Security instrument shall be given by delivering it or by mailing it by first class mail unless applicable law required 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 first class mail to Lender's address stated herein or any address Lender designates 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. Governing Laws Seteability. 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 Instrument or the :Note conflicts with ap- plicable law, such conflict shaK.. not affect other provisions of this Security instrument or the Note which can be g ven effect without the conflicting provision. 7,% ;tea end the provisions of this Security instrument and the Note are declared to be scve'rab',2. - IS,,Snsarawees Copy, Borrower shall be given one conformed cop} of this Security instrument. 16. Assipmeat of Rears. 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 :errant of .the Property to pay the rents to Lender or Lender's agents. However, prior to Lender's notice to Borrower of Borro*=,'s breach of any cove- nant or agreement in the Security Irstrument, Borrower shall collect and receive all rents and revenues of d!te Property as tmstee for the benefit of Lender and Borrower. - Ais assignment of rents constitutes an absolute assignment. and.aot an assignment for additional security only. If Lender gives notice of breach to Borrower: (a) all rents received by Borrower shall be held by Sor,Tovrrras trusr:ee for benef n- of Lender only, to be applied to the sums secured by the Security Instrument; (b) Lender shall beenffil is u;o collect and receive all of the rants of the Property; and (c) each tenant of the Property shall pay all rents due and unpaid to Cramer 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 -,o at any time there is a breach. Any application of rents shall not cure or waive any default err 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. PdRe 3 of 4 r: