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` -:t tl •i.,p'i'' ��..i >)tslau4irs .tiv:.'1 -» ��.:q,•:. i,ti :.ri :�: ; t ,: il::�ar: .�. -a:.�. .�i : _S,. ,'i . i. : i.r.'1',' . y . �r T a {:xtA_:Y�t:' q 3.;..t . ei Tj ' JIY •j '^ T• 1 -_ - _ __ ; -_ �� p .. }� .(i �. � y�.•...x.wrxr ..r1 rt t IY-f -- �a,u.r. tau ;asc.-aswwar..:........:.�..• .�l�1MMrdaMl.�.�+.wi.n.... - ---- - -_ -.. 90.._. 106601 _ Any application of the proceetif to the principal shall not extend or postpone the due dare of the monthly payments, which _ are relerred to in Paragraph 1, Or CIUMSC the tuiiauitt of aU�ik payriicnts. Any'cxCcs3 proc::ds o:'er an amoun! rti,U1rNJ i0 - — pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity ICK3IIN entitled thereto. 8. Fees. Lender may collect fees and charges authorized by the Secretary. 9. Grounds tar Acceleration of Debt. (a) Default. Lender may. except as limited by regulations issued by the Scale ary in tite case of payment defaults, require immediate payment in full of all sums secured by this Security Instrument if: (i) Borrower defaults by failing to pay in full 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. (b) We Without Credit Approved. Lender shall, if permitted by applicable law and with the prior approval of the Secretary, require immediate payment in full of all the sums secured by this Security Instrument if: (i) All or part of the Property is otherwise transferred (orl-t:r. than by devise or descent) by the Borrower. wed (ii) The Property is not occupied by the lrucOM,= or graml.m as his or her primary or secondary n anti rtcV on the purchaser or grantee does so occapy the Fruparry but kus ;r N.er credzt leas not been approved in y^{J:arrf IJTj.. vil:h the requirements of the Sect Va*-.. (e) No Waiver. if circumstances or.caz zh*t ;,;z t'd permit Liw hWr eta rQZmirlr immediate payment in full, but Lender does not require such payments, Lenddr dugs t7j,r waive its ,n�Oy.% x tUt• m+ sgect to subsequent eveam. (d) Regulations of 11101® Secretary. In many cir-, umstanees r.egrzLi t:Eo s isswa-,t by the Secretary will lima Under's rights in the case of payment defaults to cequire immediate payme^tt stn Can and t-om.close if not paid. This Ser,=Ety instrument does not authorize acceleration oc foreclosure if not perterOnd by regulations of the Secretary. 10. Reinstatement. Borrower has a right to be reinstated if Lender has required immediate payment irz fA because -,NY Borrower's failure to pay an amount due under the Note or this Security Instrument. This right applies even. a t:ee forecCtosurl: proceedings are instituted. To reinstate the Security Instrument, Borrower shall render in a lump sum W1 amc,,,ynts required to bring Borrower's account current including, to the extent they ate• obligations wG Borrower under this .ra:v:rtt:y; Instrtment, foreclosure costs and reasonable and customary attorneys' fees and exry .-ases properly associated -im,)J'a the fored(,r,u�e preicsedblg. Upon reinstatement by Borrower, this Security Instrument and the obligations that it secures shall remain in effect as if Lender had not required immediate payment in full. However, Lender is not required to permit reinstatement if: (I) Lender has accepted reinstatement after the cotnere'atcement of foreclosure proceedings within two years immediately preceding the, commencement Pf a. current foreclosure prodding, (ii) reinstatement «ill preclude foreclosure on different grounds in the 7- iture, or (iii) reinstatement will adversely affect the priority of the lien created by this Security Instrument. 11. Borrower Not Released; Forbearance By Lender 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 shah not operate to release the liabiiiiy of the original Borrower or Borrower's successor in interest. Lender shall he required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise mofffy amortization of the sums secured by this Security instrument by reason of any demand made by the original Borrower or Bvrry ruse'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. 12. Successors and Ass4gps, Bound; Mart and Several Liability; Co- Signers. The covenants and agreementsor•: thi'.s Seca ity ila=ument shall bind and L-c=- It the successors and assigns of Lender and Borrowwer, subject to the provisitamG • :' paca�criph 9 ib. Borrower's covenants :mod agreements shall be joint and several. Any Borrower who co -signs this Sea pm- Ecustcu-ment but does not e*,emte the Note: (a) is cosigning this Security Instrument only to mortgage. grant and convey :hat Barco-, ier's interest in the 6pcny under the terms of this Security Instrument; (b) is not personally obligated to pay the turns se:x. -d by this Sear im 4notument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forWar or- rsce any accommodations with regard to the term of this Security Instrument or the Note without that Boutracir } �aaucsltbA, 13. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by deliverii-fl, it se 17y�--;ling it by first class mail unless applicable law requires use of another method. The notice shall be directed to the OM-f -vrry; Adyy-ess or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given lay first class ina:E tts•C.acsii:r's address stated herein or any address Lender designates by notice to Borrower. Any notice providal: fur in this Security irnu invent slvaZ be deemed to have been given to Borrower or Ltnder when given as provided in this paragraph. 14. Governing Law; Severability. This Security. Easuniment shall be goverr,& Ley i .-deral law and the lailk &;he jurisdiction etr ;which the Property is located. In the event tb4.r ate- r.•rovision or clause of tlbi; 'Security Instrument or the Note conflicts with applicable law, such conflict shall not ;a.ffm r, o-d er the Note which can be given li -ffect without the conflicting provision.•,Tu Se&rtt3• instrument and the Note are declared to be severable. sm 15. Borrower's Copp. Borrower shall be gi�eh -une conformed copy of ih � Security instrument. 15. Assignment of Rents. Borro%wr•unconditionaliy assigns and transfers to Lender all the.' 111s and revenues of the Property. Borrower authorizes Lender or Lender's agents to collect the rent, and revenues and hereby dimcts each tenant of the Property to pay the rents to Lender or Lender's agents. Hoaecer, prior to Lender'~ notice to Borrower of Borrower's breach of any covenant 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 additional security only. If Lender gives notice of breach to Borrower: (a) all rents reccised by Borrower shall be held by Borrower as trustee for benefit of Lender only, to -be applied to the sums secured by the Security instrument; Of Lender shall be entitled to collect and receise 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 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 prescm Lender from exercising its rights under this paragraph lb. Lender shall not be required to enter upon. take control of or maintain the Property before or after gising notice of breach to Borrower. Ho}.eser. Lender or a judicially appointed rcceiscr may do %o at an% time there i, a breach. •any application of rents shall not cure or ssais c any default or in-, alidaic any other right or remedy of Lender. Thi% assignment of rent% of the Property shall terminate when the debt secured by the Security Instrument t, paid in full. A:.r + „I r - V3 -:mss:._. % 9s�r M t-1111,71.. .