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,, :.� ,jt� st1�• i; :s....Ati.�«,�'_"r;..a.�- ..+��. � :,�.>r. !-. .- . �Y :: i +, : :•�i�; r��l::l.Y.".Tlj rt'� :i" 4�- :: -•�y a.. .gym -. .err: _,p... •».... � ,. -.,� .,eta. ,. .,�- •'rti -.•. :. .. i�t . ..___ 1:i' - -s.� iaarru.�� — 90-- 106981 f. GtasMs far AcesebralM of Mrs. (a) DsfsM. Lender may, except a limited by regulations issued by the Secretary in the case of payment defaults, require is ttudlrtte payment in full of all sums secured by this Security Instrument if- (I) Borrower derAults by failing to pay in full any monthly payment required by this Security Instrument prior to or on the due date of the next monthly payment, or (ii) Borrower defaults by failing, for a period of thirty days, to perform any other obligations contained in this Security instrument. (bl Ssls WWtottt Crodit ApprovaL Lender shall, if pcmtWw by applicable law and wah the prior approval of the Sccnmq, room imrnedide payment in fail of all the sums secured by this Security Instrument If: (i) Ali or pact of the Property is otherwise tr asfefted (odwr than by devise or descent) by the Borrower. and (ii) The Properly is to occupied by the purchaser or grarim as his or her primary or secondary residence, or the purchaser or grow dam so occupy Use Property but his or her credit has not been approved in accordance with the requirements; of the Secretary. (e) No Walvar. 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) Regtslatlosrs of HM Secretary. In many circumstances regtations issued by the Secretary will limit Lender's rights, in the easy of psymnent defaults. to require immediate payment in full and foreclose if not Paid.'i lkis Security Instrument does not authorize acceleration or foreclosure if not permitted by regulations of the Secretary. IS. Rejusi sameaL Borrower has a tight to be reinstated if Lender has required immediate Wayrment in full because of Borrower's failure to pay an amount dut 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, foreclosure costs and reasonable and customary attorney's fees and expenses properly associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Security Instrument and the obligations than it secures shall remain in effect as if Lender had not required Immediate payment in full. However, Lender is not required to rermil reinstatenment if: (i) Lender has accepted reinstatement after the commencement of foreclosure proceedings within two years immediately preceding the commencement of a current foreclosure proceeding. (ii) reinstatement win preclude foreclosure on different grounds in the future, or (Ili) reinstatement will adversely affect the priority of the lien created by this Security Instrument. 11. Borrower Not Released; Forliessanee By Leader Not a Waiver. Extension of the time of payment or modification of amortization of the surtms secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall nut 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 amortization of the sutras secured 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 shall not be a waiver of or preclude the exercise of any right us rciuedy. 13. Successors sod Asidgtu Bound; Joint and Several L(tmbBilyt Co- Signers. 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 paragraph 9.b. Borrower's covenants 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 this Security instrument only to mortgage. 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 Instntment 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 mailing it by first class mail unless applicable law requires use or another method. The notice shall be directed to the Property Address 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 herein or any address Lender designates by notice to Borrower. Any notice provided for In this Security Instrument than be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 14. Governing Law; Severablilly. 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 shall 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 severable. 13. Batrower's Copy. Borrower shall be given one conformed copy of this Security Instrument. 16. Assignment of Rents. Borrower unconditionally assigns and transfers to lender all the rents and revenues of the Property. Borrower authorizes Lender or Lender's agents to collect the rents and revenues std hereby directs each tenant of the Property to pay the rents to Lender or Lender's agents. However, prior to Lender's notice to Borrower of Berrower's breach of any cove- nant or apreement In the Security Instrument, Borrower shall collect and receive all rents and revenues of the Property as trustee for the benefit of Lender and 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 shall be held by Borrower as ttntlec for benefit of Lender only, to be applied to the sums secured by the Security Instrument; (b) Lender shall beentitled 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 right, under this paragraph 16. Lender shall nit ine r e.;:tned to enter upon, take control of er mainiair she Prorerty betore or after giving notice of breach to Borrower. However, l.er.act or a judicially appointed receiver ma} do sc at a:^: time there is a breach. Any ar— :1, atson of rents shall not cure or waive any drfauh or invalidate any other right or remedy n! l ender. This assignment of rems vV Itte Property shall terminate when the debt secured by the Security Instrument is ,raid in fu:.. Part, d "14 f'My_ rdife6.+R 'ail. - exrca�rsse•��uo� -- l