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[ �4,T —�"` f t -'�i+ l+ ';� i 1 !T i � f%�! � } * T S } s,r i :� t i.. (:T 1�?ri �Y•'✓ ry✓%f '��v' t , f 'i({ ;.ul t�.s��Ji {��5�.) �r �F 1��''4(.11 {rr r;f f �i �f>il} •i'' +' tqu{ le >�i � 1 rf e'�ii � � }l . jt 9. Cro=wk for Arlxlertrffoa of TWO. 9Q,' 106669 (a) Dafaall. LRndet my, except as limited by regulatloas issued by the Secretary in the case of payment defaults, require immediate payment in full of all sums secured by this Security Instrument if: (f) Borrower defaults by failing to pay in full any monthly paymetlt required by this Security Instrument prior to or on the due date of the next monthly payment, or (ti) Borrower defaults by falling, for a period of thirty days. to perform any other obiigations contained in this Security insmtnient. (b) Stale Wilmot Credit Approval. Lender shall. if permitted by applicable law and with the prix aWaval of the SecrctM, require iroraedlase paytaens in fun of all the surns soured by this Security iristru ment if: (i) All or pan of rho Property is othepwin awferred (other than by devise or descers) t%� the Borrower. arsf (i,') 7W Property is not owgkd by the purchaser or grantee a his Of her primary or secondary residence. or of Il�Seccaary r grartree does m ooc" the property but his or her credit has not ban spprwed in aooardM" with the raltdremenb (e) N* Wdvff. It circurstances 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. (4) Regabdeas of HUD Secretary. In many circumstances regulations issued by the Sccrtiaxy will limit Lender's rights, in the pre of payment defaults, to require immediate payment in full and foreclose if not paid. This Security instrun writ does not authodw acceleration or foreclosure if not permitted by ngufali m of the Secretary. H. Barafalwast. 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, foreelomm costs and reasonable and customary attorney's fen and expenses properly associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Security Instrument and the obtigations 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 commencement of foreclosure proceedings within two years immediately preceding the commencement ture. or reinstatement twill adversely affect the priority of the Hen crleated by this Security innsnument. grounds in the 11. amewer Not Released; Forbearaat a igy 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 release 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 amotVzatlon of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Bor-uwer's successors in interest. Any forbearance by Lender in exercising any right or remedy shalt not be a waiver of or predwde the exercise of any right or remedy. IL Saccesaors and AnIps 1loand; Joint and Several Liability; Co- Signet'sz. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of lender and Borrower, subject to the provisions of panty. -,, h 9.b. Borrower's covenants and agreements shall be joint and several. Any Borrower who co -sgns this Security Instrument ttl does not execute the Note: (a) is co- signing this Security instrument only to mortgage, gnat:: and convey that Borrower's imtemst in the property under the terms of this Security Instrument; (b) is nos personally obligated so 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 regard to the term of this Security Inst ument or the Note without that Borrower's consent. 0. Nodees. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail artless applicable law requires use of another method. The notice shall be dlaxted to the Property Address or any other address Borrower des�gnates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's address stated herein or agy 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. 11. Goveraiag ILawg Sevviabifity. This Security Instrument s:iall be governed by Federal taw and the law of the jurisdiction in which the Prop erty is located. In the event that any provisia-_ or clause of this Security Inswument or the Note conflicts wilb ap- plicable law. Y=b conflict shall not affect other provisions of this Security Instrumedt 67 the Note which can be given effect without the =flitting pro_:eion. To this erA the provisions of this Security Instrument and the Nate are declared to be severable. Ls. Borroweesi Copy. Borrower shall be given one conformed copy of this Security InsSuMent. 16. Asalgasent of Rents. B3nr0Wer unconditionally assigns and transfers to Lender all tiha 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 grower of Borrower's breach of any cove- nant or agreement in the Sem -city Instrument, Borrower shall collect and receive all rents and revenues of the Property as trustee for the benefit of Lender aad 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 shat; 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 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 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 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 r� s= 1• aIo _