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90---: P 9. Groosdo for Accelentlos of Debt. _- (a) Oetaah. Lender may, except as limited by regulations hsutd by the Secretary in the case of payment defaults, require Immediate payment in full of all sums secured by this Security Instntment If: - • (1) Borrower defaults by failing to pay in full any monthly paymedt required by this Security Instrument prior to or on - -_ � = =- the due date of the neat 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) Sale Wi tha t Cie& Apprevd. Lender shall, if permitted by applicable law anti with the prior approval of the Secretary, require immediate payment in full of all tine sums secured by this Security Instniment if: { . •' - - (t) All or pan of the Property is otherwise mnsfenvd (other than by devise or descent) by the Borrower, and tr (ii) The Property is not occupied by the purchaser or grantee at his or her primary or secondary residence, or the purchaser or grantee dos so occupy the PaVeny but his or her credit has not been appmrrod in accordance with rho requirtmem of the Secretary. P (e) No Waiver. If circumstances 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. (d) Regis adorn of MAID Secretary. in many circumstances regulations issued by the Secretary will limit Lender's rights, in S the case of payment defaults. to require immediate payment in frill and foreclose if not paid. This Security instrument does ; not authorize acceleration or frlreclosure if not permitted by regulations of the Secretary. Iii'. Reiaatateeaent. 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 i bring Borrower's account current including. to the extent they are obligations of Borrower under tt-ds Security Instrument, i foreclosure costs and reasonable and customary attorney's fees a:ad expenses properly associated with the irateclosure proceeding. Upon reinstatement by Borrower, this Security Instruntett 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: (0- Lender has accepted reinstatement after the commencement of foreclosure przce.-dings within two years immediately gv -ding the commencement of a current foreclosure proceeding. (ii) reinstaternent will preclude fQreelosure on different Frcnm& in the future, or (iii) reinstatement will adversely affect the priority of the lien created by Ow Security Instrument. 11. Borrower Not Released; Forbearance By Leader Not a Wainer. Extension of the time of payment or mocb,,"wation 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 far Borrower's successor in interest. Lender shall not be rrgufred to commence proceedings against any successor in interest or ,nFuse to extend time for payment or otherwise modify.amaaization of the sums secured by this Security Instrument by m- wi a of any demand made by the original Borrower or Sonower's successors is interest. Any forbearance by Lender in :x-'Tc;s:nrg any ^ght or remedy shall not be a waiver of or mavdada the exercise of aw$ tight or remedy. "'. A IL Saevemarm and As*= Bound; Joint and Several Liability: Vii- 'Signers. The covenants arc Wxmments of this Security Inarument sh& bind and txrneftt the successors and assigns of Lender and Borrower. subject to tae,pmv lions of paragraph 9.b. v Borrower's covenants am agreements shall be joint and several. Any Borrower who cu -signs this Security instrument but does not execute the Note: (a) is co- signing this Security Inc- rutttern only to mortgage, grant and convey that Borrower's interest In the Property under the terms of this Security Instrument: k'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 accommodmians with regard to the term of this Security Instrument or the Note without that Borrower's consent. 13. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by trading it by first class mail unless applicable law requires use of anti :r method. The notice shall be directed to the Property Addrez or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's address stated hera-m or any address Lender designates by notice to Borrower- Any notice provided for in this Security Instrument shall be defined to have been given to Borrolso- or Lender when given as provided in this paragraph. Govemdmg Law; Sev¢rabillty. This $iroarity Instm -menc shall be governed by Federal law and the law of the jurisdiction in raiiich :fee Froperty is In the event that any rzox4sixn or clause of this Security Insrument or the Note conflicts with ap- plicable law, such confb: shall not affect other pro ;rJans of this Security instrumec ,a: the Note which can be given effect without the conflicting provision. To this end thc'pro,4t rsions of this Security Inv..:ument and the Note are declared to be severable. is. Borrower's copy. Borrower shall be given one conformed copy of this Security Instrument. 16. Assignment of Rents. Borrower unconditionaMl m assigns and transfers to Lender all the rents and revenues of t;;e Rr w—ny. Borrower authorizes Lender or Lender's agents to coLyezl the rents and revenues and hereby directs each tenant of the Pnzlpe Mt. to pay e%e rents to Lender or Lender's agents. Howeser, prior to Lender's notice to Borrower of Borrower's breach of any cove- naut of as,:+eement in the Security Instenmetx. Borrower shall collect and receive all rents and revenues of the Proper as trustee for the benefit of Lender and Borrower, Tl'us assigtrrtent of rents constitutes an absolute assignment and not an assignment for %. additional security only. if Lender gives notice cif tmmch cc Bn. -Truer: la@ ail: wets received by Borrower shall be held by Borrower as trustee for benefit of Lender only, to be applied• to the sinus sect, eti by rite Security Instrument. (b) Lender shall be entitled to collect and receive all of the rz:er-t ; c C'the Property; and (c) eac,'; coz=t cf 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.? of 4