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_ - __ 90— i OGa'Iry obligations that it ware shat remain kt efhct as R Lander hW not requkad knmakte payment in M. However. Lerner q not Pwtiuirad to Poo rohmstament t W Lender has accepted reinalaternent star the commwKemenl of foradostlrs Pmcm dnge within two years Mfanadateiy pfaedng the aotnrremcwrent of a Vttertl farac'lofura FOCer"WIq, (r) fi.lat owiwa vii p:: :des t^: rtoswe o,3 d+:eff-mil �4 nd!'A the A??M or (e) reinstatement will adwrsdy affect the p**1 of the flan created by this Seoxit1r Instnrnant. 11. Borrower Not Released; Forbeaance By Lender Not a Waltrar. Extension of the time of payrtrtt or modification of arrailtation of the ems seared by this Security Instrument granted by Lender to any successor in Interest of Sommer shell not operate to release to fabilly of the ort!gitiai Borrower or Sonowwo suooeasor in InWmL Lender shall not be refl0 to commmmm procesdnga sP%%M any successor is Interest or refuse to extend time for poymionl or oWmwko radii ar(to(tit"m of the sums seared by Mss Seadb fts'tu wd by mrion of any demand meads by the odgktal Borrower or BanoNW& sucosssers in interest. Any forbearance by Lender in emtee l l any tight or remedy shall not be a wWm of or PNCA)de the etercha of arty e4M or remedy. 12. Successors and Assigns Bound; Joint and Several UlaWljty; CoSignenL The covenants and agreements of oft security instuowd shall bad and beneat Me successors and assigns of Lender and Borower. attinjacs to the provisions of peragraph 9.b. Sof ewer's covenants and agrooments shall be john and several Any Borrow who cosigns this Security instrument but does not exsauto the Note, (a) is C*-S grtkug this Security httrwwl only to mortgage, Brant and corny that Borrowers htenet In the Properly needier the term of this Seaafly Interment. (b) Is not paivonally obligated to pay the am seared by this Security Instrument; end (c) agrees that Lender and any other Borrower may agree to cadent, modify. forbear or make any accommodations with regard to the tern of this Seamdry Instrument or the Note without that BerrbwWo consent 19. Notices. Any notice to Borrower provided for in thin Security insirumard. WW.. be given by deilvarirtg It or by masng It by find class mat unless appkable law requires use al wothr mv0" The nuts shed bo dkcc7ad to the Property P.ddress of (try O"W edranaa Borrower designates by notice to Launder. Any nodos to Lender shall be given by fkst clew, malt to Lender's, address stated Ire OR a any address Lender designates try notice to Borrower , My notice provided for In this Sacu* Instrument: she# be doomed to have been given to Borrower or Lander when given as provided in this paragraph. 14. Governing I.aw; 8everability. This Security Instrument shall be govemeft by Federal law and the law of the jurbd *n for which the Property is loeatd. In tine event that any provielfm. or clause of this Sacrfiy hnstumtent or the Note eont&clsr with applicable law. such conflict shall not aged other provisions of this Cwally instrument or the Note which an be given effect without the eonSetkng provision. To fhb and the provisions of {stirs aacwity Instrument end the !tote are declared to be severable. 15. Botrrower's Copy. Borrower Stet be gNen one conformed c*y of this Security InstrumanL 16. Atssignment of Rents. Borrower uncondr"-wAy assigns and transfers to Lender all the rents and revenues of the Property. Borrower authorizes Lender or Lender's agents to tolled the rants and revenues and hereby droves each tenant of the Property to pay the rants to Lender or Lrtder's agents. However, prior to Lender's notice to IBonower of Borowo's breach of any covenant or agreemem A in the Security Instrument. Borrower shall collect and receive of rants and revenues of the Property as trustee for the benefit of Lender end So rowev. This assignment of rents constitutes an absolute assignment and not an assignment for additional security only. If Lender gives notice of branch to Sommer. (a) at rants received by Sommer shelf be held by Borrower as trustee for benefit of Lender only. to be applied to the sums secured by the Security Instrument; (b) Lender shall be entitled to collect and reeehce all ol the rants Of the Pttlprly; and (c) each tenant of the Property she# pay all rents due and unpaid to Lender or Lender's agent om Lendetb written demand to the truant Borrower has not executed any prior assignment of the rents and his not and will not pedorin amts act that would prevent Lender from exercising lib rights under this paragraph la Lender shall not be required to enter upon. take control at or maintab the propeft before Or after glvhg notice of, breach to Borrower. However. Lender or a judiciary appointed receiver fray do so at any time there is a breach_ Any application of rents ss'+at not ere or welve any ddm* or invalidate any other right or remedy of Lender. This assignment of rents of the Property shelf terminate when the debt seausd by the Security in0ument Is paid in full. 17. Coeet -I sure Procedure& a rndps at ifs option may remfae irnmedlate payment in full of of sums secured by this Security Instrument without further demand and may In-joke the poww of sate and any other femedes permitted by applicable law. Lender sheik be entitled to collect at expenses incurred M pursuing the remedies provided in this paragraph 17. induding, but not Wrdted to, reasonable altomeW fees and costs of title evidence. If the power of sate is invoked. Trustee shat record a notice of default in each county in which any part of the Property Is boated and shelf mail copies of such notice in the rnannw prescribed by applicable late to Sommer and to the other persons presoaed by appbable lave. After the time required by applicable law, Trustee shall give public notice of sale to the persons and in the manner prescribed by app#=bk law. Trustee. without demand an Sanowe'r, shad sei the P"OeTV at public sine to the highest bidder at the time and place and under the teens designated (era thte na ee of sae In one .or me parsecs and in any order trustee detemnines. Trustee may postpone We Of all or any pared of the PropzV by pimp announcement at the bra and place of any previously scheduled sale. Lender or its desk" may purchase the Property at any sea Upon receipt of payment of the price b?d, Trustee shall deliver Zan the purchaser Trustee's deed conveying the Property. The recitals In the TnisteWs deed shat be pant fade evidence of the truth of the statements made therein. Trustee shall apply the proceeds of the sale In the following order: (a) to a3 expenses of the sate, incla4ing, but not limited to. Trustee's fees as permitted by applicable law and reason" attorneys' fees; (b) to at sums zecured by this Security Instrument; and (c) any excess to the person or persons legally entitled to iL 18. Reconveyance. Upon payment of of sums secured by this Security instrument. Lender shag request Trustee to reeonwy the Property and shall surrender this Security instrument and at notes evidenc hg debt secured by this SeWeAy Instrument to Trustee. Trustee shall femvey the Property without warranty and without charge to the person or persons legally entitled to iL Such person or persons shat pay any recordation costs. 19. Substitute Trusts(;: tender, at its option. may tom time to time remove Tnustee and appoint a successor trustee to any Trustee appointed heauuider by an; Instrument recorded in the county in which this Security instrument Is recorded. Without conveyance of the Property; the.suc6ssor lnrstae shall' succeed to all the title, power and duties conferred upon Trustee herein and by applicable few. 20. Request fbr. Kofi'cas. Borrower requests that copies of the notices of default and sale be sent to Borrowers address which is The Property Address. Sonvwer further requests that copies of the notices of default and sae be sent to each person who is a parry hereto at the address of such person set forth herein. 21. Ineligible for Insurance Under the National Housing Act. Borrower agrees that should this Security Instrument and the note secured thereby not be eligible for insurance under the National Housing, Act within sixty (60) days from the date hereof. Lender may. at its option and notwithstanding anything in Paragraph g, require Immediate payment in full of at sums secured by this Security InsfinenL A written statement of any authorized' agent of -the Secretary dated subsequent to sbay (60) days from the date hereof, declining to insure this Security Instrument and the note secured thereby, shag be deemed conclusive proof of such ineligibility. Notwithstanding the foregoing, this option may not be exercised by Lender when the unavaitabilfy of insurance is sorely due to Lenders failure to remit a mortgage insurance premium to the Secretary. Riders to this Security Instrument. It one or more riders are executed by Borrower and recorded together with- this Security instrument the covenants of each such rider shat be incorporatord into and shag amend and supplement the covenants and agreements of this Security instrument as if the dder(s) were in a part of this Security Instrument. [Check applicable box(es)]. ❑ Condominium Rider ❑ Adjustable Rate Rider ❑ Growing Equity Rider ❑ Planned Unit Development Rider ❑ Graduated Payer M. Rom err la Other NIFA Addendum :, • Cn (Ce.90) P(4JW) U(4112MI 7103 I r I i ! t' L-