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7--_ 1 go - 106681 !. Croaslb for Acceleration of Debt. (a) Default, Lender may, except as limited by rtyu"_atiom issued by t *t Secretary in the case of payment defaults, require immediate payment in full of all sums secured by this Security InatMURnt if: (i) Borrower defaults by falling to pay in fell any monthly paym4dt required by this Security Instrument prior to or on the due date of the next monthly payment, or (ii) Borrower defaults by falling, for a period of thirty days, to perform any other obligations contained in ibis Security Instrument. (b) SWe %la at Crndit AMaoval- tender shall. if permitted by applic*k law and with the prior approval of the Secretary. MQM immediate paiymere in fell of all tbo sums secured by this Secunty Itssaswtew If' (d AB or part of the Property is otherwise transferred (other than by devise or deemm) by the Sommer, and (ii) Ilia Property is cot bompied by the purchaser or grantee as his or her primary or secondary residence, or aw V=haser or gaaNae does so ooaepy tiro Property but his or her credit has not been apptaved In acoordmw with the raquitefoencs of the Sectemy, (c) No waiver. If circumstances occur that would permit Lender to require immediate payment in full, but Lender does not rcgo.e such payments, Leader does not waive its rights with respect to subsequent events. (mD Rephd M of EkTjD smra a y. Ln --any circumstances regulntiom issued by the S- ermary will limit Lender's rights, in the case of payment defaults, to require immediate payment in full and forectose if not paid. Thiz security Instnrment does not authorize acceleration or foreclosure if not permitted by regulations of the secretary. W. Rekstso est, Borra?ner Iras a right to be reinstated if Lender bas required immediate payment in fisll because of Borrower's fame.e to pay au. gaunt due under the Note or this Security ttrstrutment. This right applies even after foreclosure proceedings ate twiftuto 'iJ' Fr4zs ate the Security Instrument, Borrower shall tender in a lump sum all amounts required to brims Borrower's accoutat:.'wrr including, to the extent they are obligations of Borrower under this Security Instrument, RMOCIOsUM CySM and rrr.rt)9P. and customary attorney's fees and expenses properly associated with the foreclosure Qmcceding, Uwom eeittst a er=e �'T, zI,- et, this Security lastmment and the obligations that it secures shall remain in effect as if Lender Ib3d izs�ro tegxi naetrea`y« tp �: in full. However, Lender is not required to permit reinstatement if: (i) Lender has accepted rei=Qf=tnt pow &—. coir=a =ent of foreclosure proa�iings within two years iLnmc�iately preceding the cotttmencem&m. of a ct, rt•. r as;ciosurr p- oceeding, (ir) reinstatement will preclude foreclosure on. diflrwt nt grounds in the future, or (iii) WZ adversely affect the priority of the litm mated by this Security InV- MMent. It. Borrower Not Releaseeii; Forbearance By Leader Not a waiver. Extension of ttte time of payment or modification of amortization of the sums secured by this Security Instrument granted by Leader to any successor in Interest of Borrower shall not operate to release the liability of the orWvA Borrower or Borrower's. f =,essor in imte rmt. Lender shall not be required to commence proceedings against any succeswr. nm interest or refuse to eastern: «rate for payment or otherwise modify amortization of the sums secured by tills Security lu.u+nc qi by reason of any demitend made kT the originat Borrower or Borrower's successors in interest. Any fwbearance by L order in "wasing any fi&t or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 12. Saottssercas and AsWgm Bound; ]obeli amd Several Liability, Co- Sl=ates• The covenants and agreements of this Security Instrument sl e-0 bind and benefit the succc;s<+ars and assigns of Lender ants: harrower, subject to the provisions of paragraph 9.b. Borrower's covenants and agreements shah to joint and several. Any Borrra?ver who co -signs this Security Instrument but does not execute the Note: (a) is co- signing this Security Instrument only to rouge, grant and convey that Borrower's interest in the Property under the terms of this Security Instrument. (b) is not personally obligated to 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 Instrument er rte t Note without that Borrower's consent. 13. Notloa. Any notice to Borrower provided for in this Security lnst nuzz at shall be given by deuveting it or by mailing it by first class mail unless applicable law requires use of another method. The roa�ce shall be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice to 1=1'1 r shall be given by fast class mail to Lenders address stated herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security Instmenem shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 14. Governing Law; Severability. This Sa-na ity Instrument shall be gmcer=d by Federal law and the law of the jurisdiction in which the Property is located. In the event Uzat any provision or clause of this security lnstrus..'nt or the Note conflicts with ap- plicable law, such conflict shall not affect other provisions of this Security [asrrj m at or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security lastrMent and the Note are declared to be severable. 13. Borrower's Copy. Borrower shall be given one conformed copy af,lies SecuritT G'nstrument. 16. Asslgaaseat of Rests. Borrower unconditionally assigns and tramfem to Lender a3 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,. pn r to Lendet's notice to r=o=wer of Borrower's breach of any cove- nant or agreement in the Security Instrument, Borrower yns]I collect and receive all revs and revenues of the Property as trustee for the benefit of lender and Borrower. This assignrnem of rents coamwes an absolute assignment and not an assignment for additional mairity only. If Lender gives notice of bra. Ira.13arrower: (a) all rents received by i3'arrower shall be held by Borrower as trustee for benefit of Linda valy.. to be applied tri,tlivs -was secured by the Security Instrument; (b) Lender shall be entitled to collect and receive all of the remsi of rite Property;. aTA (c) tack tenant of the Property shall pay all rents due and unpaid to Lender or Lender's agent on Lezuiec"s.written demanriro the tenant. Borrowes Brits 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'shali not be required to enter upon. take wairol of or maintain the Property before or after giving notice of breach to Borrower. However. Lender or a judicially appoinud,rva:eiver may do so at any time there is a breach. Any application of rents shall not cure or waive any default or invalidate any, pther 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 s M sr' NJ .t M, ,.`YJ' i�J ti•: