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<br />f. Gttttttde fer Aeeeiecattoa of Debt. 7- 106819
<br />(a) fAefadt. Lender tray, except as litnited by te`ulations IWO by the Secretary in the C44 St payment defaults. require
<br />Immediate payment in full of all sums secured by this Security Instrument If
<br />Ill) Borrower defaults by falling to pay In NII any monthly payment required by this Security Instrument prior to or on
<br />the due date of the neat monthly payment, or
<br />t'- '' ti r
<br />(ii) Borrower defaults l%Y failing, far a period of thirty days. to perform any Other obligations contained in 1Ms Security
<br />Instrument,
<br />taux attd Kith the va! of the Secretary. «tgtite
<br />(b) Stde Without (.WM Appeova). Under shall, If p m(dued by applicahie prkw aMo
<br />in full of all tho sums secured by this Security Instrument if:
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<br />immediate payment
<br />(i) All or part of the PwPcIty is odtrswin transferred (othtr than by devise or desocnel by the Borrower. and
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<br />(ii) The Property is not occupied by the purchaser or grantee as his or her primary or secondary residence. or the purchaser or
<br />butt his her credit has t of been apptvved in accordance with the mg4mmcnt3 of the Soetesuy-
<br />granwe dew so occupy the Ptopetty or
<br />(c) No Wafter. if circumstances occur that would permit Lender to require immediate payment in full, but Lender does not
<br />require such payments, Lender does not waive its rights with respect to subsequent events.
<br />f dap Repladotu of liiUDD Secretary. In many circumstances regulations issued by the secretary will limit Lender's rights, in
<br />immediate in full and foreclose if not paid. This Security Instrument does
<br />the ceuc of payment defaults, to require payment
<br />not authorize acceleration or foreclosure if not permitted by regulations of the Secretary.
<br />I& Reimtatewat. Borrower has a right to be reinstated if Lender bas required immediate payment in full because of
<br />faihue to amount dote under the Note or this Security Instrument. This right applies even after foreclosure
<br />Borrower's pay an
<br />proceedings are instituted. To reinstate the Security Instrument, Borrower shall tender in a Lump sum all amounts required to
<br />the they are obligations of Borrower under this Security Instrument.
<br />bring Borrower's account current including, to extent
<br />fem, ,sure costs and reasonable and customary attorney's fees and expenses properly associated with the foreclosure
<br />Security Instrument and the obligations that it secures shall remain in effect as
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<br />7MUMOM73. Upon reinstatement by Borrower. this
<br />T U=2s: jbatifi act Mdred immediate iwment in qWL However. Lerrdw is not tegrri red to permit reinstatement if: (i) Lender has
<br />hIn immediately preceding
<br />ammlasl ceipsiav 'J: After the co= v of foreclosure in"� ='+��. w; two Yeats.
<br />of a =r-sat foreciz.%; reinstat.�rsac w' �atclu «: foreclosure part different grounds in tile.
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<br />cotZT.RMa=4Mt ,fi�)
<br />future, er (•no) teitmaj. -Meng w8r 341 -T 94F :affecs ;lte,p ^ority of ft. ken cr=a t y Ills Security 9n1wUTMtnt,
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<br />11. Borrower Nor-, 6i� leased; Fot®eeasiaxac B3 >Irstrtler Not a Waiver. Extersr.in jG -,he time o£ ,M4��crj, -m ml�iication of
<br />by Lender w emv successor M nrtesest (af U9 �-t. shall not
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<br />amortization of the sodas secured by this S=T y Ins ,went granted
<br />operate to release the liability of the a-i at B�rtsAer or Borrower's succ c��: in interest. Lettiy r sbaiL r.t �t required to
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<br />cottstJx�st:t: itraceedings against any spa wzc is sa;eaest or refuse to extend time f:,� payment or ca:herwise medw V amortiratiien
<br />IIustcumRen b ctason of any demand mad-, by the original Borrower os Borrower's
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<br />of rjw w secured by this Security -a ;
<br />sttoce =n fa Uxtereg:. Any forbearance by Lesrr,?e• ii t (- aercisin$ any right er cr•..^eady shall not be a waiver o= e,: preclude zit
<br />exercise of a*yti- right oe remedy. ,
<br />12. Samsessors smi 4fto Bound-, Joint and Severg UsbMV,,q; 7N >,.vvenants and agreemtests,,Vl t:bis Security
<br />Instrument shall bind and benefit the successors and assigns of Cana:: "Laacrwaer,'-g2b!ect ra the provisions of yaragraRit g -U�.
<br />Borrower's covenants and agreements shall be joint and several. Any Borrowerwlrm co -signs 0,.- `.;ecttritY Instrument but does
<br />Security Instrument only to mortgage. grant and convey that Borrower's interest in
<br />i
<br />not execute the Note: (a) is co- signing this
<br />the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security
<br />Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any
<br />accommodations with regard to the term of this Security Instrument or the Note without that Borrower's consent.
<br />13. Nodees. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by
<br />method. The notice shall be directed to the Property Address or any
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<br />first class mail unless applicable law requires use of another
<br />address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's address
<br />other
<br />stated herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall
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<br />be deemed to have been given to Borrower or Lender when given as provided in this paragraph.
<br />14. Goveming Lair, SeverabBity. This Security Instrument shall be governed by Federal law and the law of the jurisdiction in
<br />of this Security Instrument or the Note conflicts with ap-
<br />which the Property is located. In the event that any provision or clause
<br />law. such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect
<br />plicable
<br />without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be
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<br />severable.
<br />15. Borrower's Copy. Borrower shall be given one conformed copy of this Security Instrument.
<br />16. Assigameat of Rents. Borrower unconditionally assigns and Transfers to Lender all the refits and revenues of the Property.
<br />Borrower authorizes Lender or Lender's agents to caUect the rents and revenues and hereby directs each tenant of the Property
<br />to pay the rents to Lender or Lender's agenu. However, prior to Lender's notice to Borrower of Borrower's breach of any cove-
<br />nant or agreement in the Security Instrument, Borrower shall collect and receive all rents and revenues of the Property as trustee
<br />for the benefit of Lender and Borrower. This assignment of rents constitutes an absolute assignment and not an assignment for
<br />additional security only.
<br />If Lender gives notice of breach to Borrower: (a) all rents received by Borrower shall be held by Borrower as trustee for benefit
<br />of lender only. to be applied to the sums secured by the Security Instrument; (b) Lender shall be entitled to collect and receive all
<br />of the rents of the Property; and (c) each tenant of the Property shall pay alk ream due and unpaid to Lender or Lender's agent
<br />on Lender's written demand to the tenant.
<br />Borrower has not executed any prior assignment of the rents and has not and will not perform any act that would prevent
<br />Lender from exercising its rights under this paragraph 16.
<br />Lender shall not be required to enter upon, take control of or maintain the Property before or after giving notice of breach to
<br />Borrower. However, Lender or a judicially appointed receiver may do so at any time there is a breach. Any application of rents
<br />shall not cure or waive any default or invalidate any other right or remedy of Lender. This assignment of rents of the Property
<br />shall terminate when the debt secured by the Security Instrument is paid in full_
<br />Pace 3 of 4
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