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, .,;;ItJSo ,''•tt1'•,v.7 .. S t1 t (.S ;.1.. '.r i1 ..:;:.,: blseN��{k(Mtt7.s1.11 - t-y3 .. - ._� v r , -�.(.' '_ _T`.f}, ay,-_y�,rylAlt►sric�• r r �+rf�4'•a rr -. -.. �t •s- ...- f. Gmeeft for Atcaientdaa of Debt. - - -- (a) Dafnk. Lender may. except as limited by regulations issued by the Secretary in the case of payment d.fautts, rauirc immediate payment in full of all sums secured by this Security Instrument it' (1) Borrower defaults by failing to pay in Hill any monthly paytnefit requiml by this Security Instrument prior to or on _ - -- _= the due date of the next monthly payment, orf (ii) Borrower defaults by failing, for a period of thirty days. to perform any other obligations contained in this Security Instrument. (b) Sde Wkboat Netts Apaoval. Lander shall if parniaed by g46c ebie law and with the prior approval of the Scerdaty. reWre t ` -- -- immediate payun m in full of all the rttrtta secured by this Security Itstrutne"t tf: - "- - (i) AU or pail of the Property is otherwise transferred (otter thin by devise or descent) by tht: Borrower, and ` � �[�' do Prope ft rty � � AS a her in goo ohm the toquiranenn ofthe Sectuaryor - (e) No Wither. If circumstances occur that would permit Leader to require immediate payment in full, but Lender does not require such payments, Lender does not waive its rights with r PMI to subsequent events. (d.) Ifptniallotta of RUD 8e0ety ", In many circumstances regulations issued by the Secretary will limit Lender's rights. in Use case of payment defaults, to require immediate payment is full and fvieeiosa if not paid. This S- :unity Instrument do" not authorize wcderxtion or foreclosure if not permitted by regulations of the Secretary. 10: lgrnlata suL Borrower has a right to be reinstated If Lender has required immediate Payment in full because of foreclosure Borrower's failure to pay an amount due under the Note or this Security Instrument. This right applies even after Borrower shall tender in a lump sum all amounts required to ` proceedings are instituted. To reinstate the Security Instrument. bring Borrower's account current including. to the extent they are obligations of Borrower under this Security Instrument, - �. fombsum costs and reasonable and customary attorney's fees and expenses properly associated with the foreclosure by Borrower, this Security Instrument and the obligations that it secures shall remain in effect as . 1 �e r proceeding. Upon reinstatement if Lender had not required immediate payment in full. However, Lender Is not required to permit reinstatement if: (ti) Leader has accepted reinstatement after the commencement of foreclosure proceedings within two years immediately P receding the will preclude foreclosure on different grounds In the 4; commencement of a current foreclosure proceeding, (it) reinstatement future. or (iii) reinstatement will adversely alffect the priority of the lien created by this Security Instrument. IL Borrower Not Rehowd; Forbearance By 1OWWr Not a Wdvtr. Extension of the time of payment or modification of amortization of the sums secured by this Security Instrument gritted by Lender to ar+Y successor in interest of Borrower shall not tt E° operate to release the liability of the original Borrower or Borrower's successor in interest. Lender shall not be required to r commence proceedings against any successor in interest or refuse to extend time �Cor, payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand mate by the original Borrower or Borrower's sucoemrs in intemt. 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. 1.• it. Saseteaaon gait Assign Mmad; Joint Dead Several I1"11Y; Co- Sigaen. The covenants and agreements of this Security Instrument shall bird and benefit the successors and assigns of Lender and Borrowea. subject to the provisions of paragraph 9.b. Borrosves covenants and agreements sttall be joint and several. Any Borrower who au -signs this Security Instrument but does 41 not execute the Note: (a) is co- signing this Security Instrument only co mortgage, grant and convey that Borrower's interest in The Propaq7 under the terms of this Security Instrument, (b) is not personally obligated to pay the sums secured by this Security Itutronrsrat; aced (c) agrees that Lender and any other Borrower =ay agree to extend, modify, forbear or make any Note that Borrower's consent accommodations with regard to the term of this Security Instrument or the without 13. Moalces. Any notice to Borrower provided for in" Security Instrument shall be given by delivering it or by marling it by - first class mall uakss applicable law requires use of another method. "'tine 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 fun 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 the paragraph. 14. Governing Law; Severabgitq. This Security Instrument shall be governed by Federal law and the law of the jurisdiction in ` r' wbicb 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 whi hh = be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Nole ate declared to be ==able. 15. Bormwer's Copy. Borrower shall be given one conformed COPY of this Security Instrument. ± . IL Afters at of Recta. 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 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- nant or agreement in the Security instrument. Borrower shall collect and receive all rents and revenues of the Property as trusts 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 received by Borrower shall be held by Borrower as trustee for benefit of Lender only, to be applied to the suns secured by the Security Instrument: (b) Lender shall be entitled to collect and receive 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 Leader's written demand to the tenant. l 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. Lendershall not be requited 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 so at any time there is a breach. Any application of rents. shall not cure or waive any default or 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. - page 3 of 4 1