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. r 9. Grounds for Acteleratkv of Debt. 9o.106538 (a) iieiatii. Lvw'ci Mwpt ns Ltrnited by renitatiorss (a}p_ed by the °.,.;Pare In tut i.i vi p9yintai dmaulis. tegt:ire Immediate payment in full of all sums secured by rhos Security instrument if: (i) Borrower defaults by failing to pay in dull any monthly payment required by this Security instrument prior to or on the due date of the next monthly payment, or (ii) Borrower defaults by failing, for a period of thirty days, to perform any other obligations contained in this Security Instrument. (i►) S* %M" Appm -*L Lender shall, if permitted b i gp%ca>>le law std with the prior approval of the Secretary, tegeIIe imr edime ptgtnxtt in full of all the suan secured by this Security Iarttttnmt If- (I) All or pan of the Properly is atherwbe unsfaW (other that by d-visa oc desoen) by the Borrower. and (it) The property, is not occupied by the iutrba+er or pwoe as his or her prlrvxy or saandarY residem. or of the Secretary- (c) Of gratree does so oocupy the property but his or ha refit has rot been sppm vd in gotoobtat with rite regtmatsars (c) No Wader. if circumsMM occur that would permit Lender to require immedate payment in full, but Lender does not require such payments, Lender does not waive its tights with respect to subsequent events. (d) Rgpdatlotaa at )3 WD Secretary. In many circumstances aVfttlons issued by the Secretary will limit. Lender's rights, in the rase of payment defaults, to require immediate payment in fail and forG.Eoce if not paid. TUj Scvurity Instrnracnt d= not authorise acceleration or foreclosure If not permitted by tegttlatioms of the Secretary. 119. Rewsomstett. Boreowxr 13m: it. right to be reinstated if Lender bras nquhrd immediate payment in full because of Borrower's failure to pay na ttats;i= due under the Note or this Security Iastrwrrrstl_ This right applies even, after foreclosure proceedinp are instftavlesb.'i'tr m:�m%zite the Security Instrument. Borrower shWl'ixsnin_r in a lump sum all amounts required to bring Borrower's aecou,sc wsrctr,^J: including, to the extent they are obligations tTf13artower under this Security [nstrumeut. foreclosure costs and M%wMaburr and customary attorney's fees and expenses properly associated with eQ, foreclosure proceeding. Upon rejnrA�=Me 1 }* lirrr- Tower, this Security Instrument and the obliga ions that it secures shall retrain in effect as; if Larder had not requizizf: (nanra,)bun payment In full. However, Lender Is not req �t `wpemiz� �tamte�ct Y • (i)n Ledn des accepted reinstatemwL' mist t the commencement of foreclosure proceedings _ r has the future. commencement �or ((HQ reinststt=sj t will adit�erseiy affect ,priorittyyr of the lien created bythisosecurity Instrument. t grounds in the lual ewer Not 3tkased; > v*vanam By Leader Not a Waiver. Extension of the time of payment or modification of anWttisMdgn of the s>ams secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall VS. operate to release Vb.0 i'Sability of the original Borrower or Borrower's successor in interest. Lender shall not be required *7 commence procecdli, :a8ainst any successor in interest or refuse to extend time for payment or otherwise modify amortizatWa• of the sums securcAl by this Security Instrument by reason of any demand mitt. by the original Borrower qr. Borrowee s successors in interne. Any forbearance by Lender in exercising any right or wastes.} shall not be a waiver of or pLadude dic exercise of any right or remedy. 1T. Smeeenors sad Assigns Bomwk, JOiat sad Several Liabli ty; Co- Signers. The covenant:;„ anti cDX- M z. -J-a `-t4 Lets SecMU Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subrj= r011-✓a r- mvis>,rtr.s (,L msragraph 9.b. Borrower's covenants and agreements shall be joion: and several. Any Borrower tw.bo• ixJ -sigps s tads S4-saurity. Easin rr-ent but does not execute the Note: (a) is co- signing this Smtripy instrument only to mortgage„ ga;rut and will ey that t;,ianrsvees interest in the Property under the terms of this Security instrument (b) is not personally obfa.tptteti t4 3raw rite sums swum4` by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to euemX, modify, forbear or make any awonunodation; with r p.rd to the term of this Security Instrument or the Note without that Borrower's consent. 13. Notices. Any actrice to Borrower provided for in this Security Instrument MAI be given by delivering it or by mailing it by first class mail un.tess applicable law requires use of another method. The notice thin be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender slush be given by fast class mail to Lender's address stated herein or any address Lender designates by notice to Borrower. Any not i provided for in this Security Instrument shall be dersrrcd to have been given to Borrower or Lender when givem as provided in this paragraph. 14. Goveraing Law; Severability. 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 shall not affect other provisions of this Security instrument or the Note which cam be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note ere declared to be severable. is. Borrower's Copy. Borrower shall be given one conformed copy of this Security Instrumetzt. 16. Awiptttttat of Rents. Borrower unconditionally assigns and transfers to Limiter all the rents and reveniora of the Property. Borrower authorizes Lender or Lender's agents to collect the rents and revenues anti hereby directs each renitar of the Property to pay the rents to Lender or Lender's agents. However, prior to Lender's notkv uo Borrower of Borrower's breach of any cove- nant or agreement in the 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 addUanal security only. Lt Leader gives notice of breach to Borrower_ L, at all rents received by Borrower shall be held by Borrower as wztee for benefit of Larder only. to be applied to the sums secured by the Security Instrument; (b). Lender shall be entitled to: cuWas and receive all iif tirr rents of the Property; and (c) each tenant of the Property shall pay all rents due and unpaid to Lear err Lender's agent anLraider's written demand to the tenant. Porrower 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 giting,nntice of breach to Borrower. However, Lender or a judicially appointed receiver may do so at anY time there is a breach. Rny: appl- ication of rents shall not cure or waive any default or invalidate any other right or remedy of Lender. This assignment of r'cnts of the Property shall terminate when the debt secured by the Security instrument is paid in full. Pace 3 of 4 .r i- ,Fr „..