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- q, f, � {•'f�Y�� r..... t j1H• ,•�Gr t "h.1�� ,v ,•y�an.r•, �t1` •A. .I yu ---.a vu87� 9. rwwrs r« Andwatha d Babe. (a) Ddm@L Lender mayy. exnpt a, timitsd by rguWjoae Muted by the Setrsttary io the cm of payment defauW, nguin IatatedW@ psYtttnat in tail of a4 sums secured by thM SttcuritY Iwrameat if: (1) oorrowar defaults by fal tg to pay to full any monthly psymdlt ngcdred by this Security Instrument prior to or on the due date of the am monthly payment, or (11) Borrower defaults by (ading, for a pariod of thirty days, to perform soy other obligations contained in this Security lowumeat. jb) Sate WMW CadM Appewal. Lender shall if permitted by applicable law and with da prior approval of the Secretary. requite Itamediats 9 a5 osae1 In NII of 89 tltr cotes;=— by this Soeurky Iaatrtstteat if: (i) All or put of do Ptopetty b otherwise transferred (other than by devise or daaomt) by the Borrower. ell (d) The Pinpatty Is not occupied by the piste baser or gra tec a his or her prima ry or a xio dary ntsidatoe, or the or draalse doe so town the M W erty but his or her credit has teat been approved in aociodance with ilia tepuirtments of do Secretary. fc) No Walvw. if circumstances occur that would permit Lender to require Immediate payment in full, but IAWer don not require such payments. Leader does not waive its rights with respect to subsequent events. (d) RggWkm of HUD Secretary. In many circumstances regulations Issued by the Secretary will limit Lender's rights, in the case of payment defaults, to require immediate payment in full and foreclose if not paid. This Security Instrument does not autbociu mcelatation or foreclosure if not permitted by regulations of the Secretary. ML adadaftum . Borrower has a right to be reinstated if tender has required immediate payment in full because of BorrowRes failasa ito eery an amount due under the Note or this Security Instrument. This right applies even after foreclosure prooeedbags are iaatitttted. To reinstate the security tent, Borrower shall tender in a lump sum all amounts required to bring Borrower's sttxoaat current iacludhrg, to the extent they are obdgutons of Borrower under this Security Instrument. foraciosum ousts gad roawnabk and customary altorueys fee cod expenses properly associated with the foreclosure pprooeedbrg. Upon rdmtatetnent by Borrower. this Security lutstrumrnt and the obligations that it secures shall remain in effect u if Lender had not retgtdred iramediste payment in full. However. Lender b not required to permit reinstatement if: (i) Lender has accepted relrsstateaDa►t after the oo+aasaentxa►rnt of foreclosure proceedings within two years Immediately preceding the comroeaoetaeat of a current foreclosure proceeding, (d) reinstatement wW preclude foreclosure on different grounds in the fixture. or (iii) reiastatcaaent will adversely affect the priority of the den created by this Security Instrument. 1L iarower Noe Rd= W; Forlteanuce By tlAakr Not a Waiver. Extension of the time of payment or modification of amortisation of the sums secured by this Security Instrument granted by Lender to any successor In interest of Borrower shad 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 amortimtion of the sums tenured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shad not be a waiver of or preclude the exercise of any rkht or remedy. 1L Saonsson uW .j%4W Boned; islet &W Several Liability; Co- Signers. The covenants and agreements of this Security Instrument shall bind and $esefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 9.b. Borrower's co -mnants and agreements shall be joint and several. Any Borrower who co -signs this Security Instrument but does not execute the Note: (a) is co- signing vhb Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Instrumenc: (b) is not personally obligated to pay the sums secured by this Security Instrument: and (c) agrees that Lender and anti ,'ther Borrower may agree to extend, modify, forbear or make any aeconuaodations with regard to the term of this Secus:y Instrument or the Note without that Borrower's consent. 13. Nets. Any notice to Borrower provided for in q3s Security Instrument shall be given by delivering it or by mailing it by first cow i-uail unless applicable law requires use of another mettted. The notice shad be directed to the Property Address or any other addrtas Borrower designates by notice to Lender. Any notice to Lender shall be given by first 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 this paragraph. N. Goversift Law; SevetabWly. This Security Instrument shall be governed by Federal law and the law of the jurisdiction in which 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 shad not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severabk. 13. Illamwer's Copy. Borrower shall be given one conformed copy of this Security Instrument. 16. Awkeneal of Rents. Borrower unconditionally assigns and craasfers 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 Leader or Lender's agents. However, prior to Lender's notice to May rower of Borrower's breach of any cove- nant or agreement in the Security Instrument. Borrower shall collect and receive a.". -enis and revenues of the Property as trustee for the benefit of Lender and Borrower. This assignment of rents constitutes art at solute assignment and not an assignment for additional security only. If Lender gives notice of breach to Borrower: (a) all rents received by Borrower shad 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 emided to collect and receive all of the rents of the Property: and (c) each tenant of the Property shall pay all rents due and unpacw 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 wi,i 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 matrtrain the Property before or afar giving notice of breach a:; Borrower. However, Lender or a judicially appointed receiver may do so at any time there is a breach. Any ap;dication of rents shall not cure or waive any default or invalidate any other right or remedy of Lender. Thit assignment of rents of the Property shall terminate when the debt secured by the Security Instrument is paid in full. neYyv... asl� J�n.erica•,� JLX1� -, V cos N. n - ' -�}'} .4 �• 'irX•.ufi�1s• :. '.��or r• �•Yl l .. 1.•.f `.aw[V�V- I♦ i { 1 ' 9