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<br />(n eomawsr ddautts by falling to pay N fur any monthly payment requfad by this Security Instrutrrnnt Prior to or on the due
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<br />dttlo of lire next roordhl9 PaVnm" or
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<br />Bet dMaub by feting, fors period of thrty days. to perform any other obligations contained In
<br />f3eotaNy InstrumoriL
<br />few end such the r oval of the
<br />(b) Sale Without Crodit Approval. Lender shelf. H permitted by applicable prio aPPr
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<br />Secret". require Imrnadiste payment in Arc of d the sums secured by this Security Instrument if
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<br />(Q AN or pert of lire property is otherwise transferred (other than by device a dsdrrt1) by the Borrower, and
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<br />(l) The Property Is not occupied by the purchaser or grantee as his err her primary or secondary redderrrs, or IIMI Poraha+
<br />or grantee does so occupy the Property but his or her credit has not been approved to aaconfence with 00 req t^emts
<br />of the Secretary.
<br />(o) No Waiver. If circumstances occur that would permit Lander to require knrrmkte payment In fur, but Under does
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<br />not require such payments, Lender does not waive its rights with respect to subsequent events.
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<br />(d) Reguledone of HUD Secretary. In many circumstances regulations issued by the Secretary will IYnr Lenders
<br />Security Instrument
<br />feu
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<br />rights. In the case of payment defwlts. to require immediate payment in full and foredoae if not paid. This
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<br />does not sunhats aooeleratlon or forectosuro If not permitted by regulations of the 3sorela+y,
<br />10. Relnatrdement. Borrower has a right to be reinstated r Lender has required Imnnedlate payment ld fur baesuea of
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<br />Borrower's failure to pay an amount due under the Not@ or this Security Instrument. This right applies even alter foreclosure proceedings
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<br />we Instituted. To reinstate the Socurry Instrument, Borrower shall tender in a lump sum elf amounts required to bring Borrower's
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<br />acccunt surreal including, to the extent they are obligations of Borrower under this Security Instrument. loredosms costs and
<br />Upon reinstatement by
<br />ressonable and customary attorneys' fees and expenses Property associated with the foreclosure proceeding.
<br />Borrower, this Security Instrument and the obligations that it secures shall rernah N effect as r Lender had not required Immediate
<br />after the
<br />terl if: (I) Lender has accepted rainstaternont
<br />payment in full. However. Lender is not required to permit reinstanen
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<br />eorrvnenaermnerut of faeobwn proceedings within two years Immediately preceding the commencement of s tuxrerut laedosure
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<br />procesdYrg, (a) reinstatement will preclude foreclosure on different grounds in the future, or (W) reinstatement will adversely affect the
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<br />priority of the No created by thle Security Instrument.
<br />11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the tore of payment a
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<br />mods canon of smorfintlon of the aunts secured by this Security Instrument granted by Under to any successor in irsarest at Borrower
<br />be °squired to
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<br />shall not operate to release the Ilebllfty of the original Borrower err Borrower's successor In interest. Lender shelf real
<br />commence proceedings against any successor In interest or refuse 'w extend Sine for payment or otherwise modify arnorton m & the
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<br />sums socxlrarf by this Security Instrument by mason of any 'demand made by the original Borrower or lForrowerb successes in
<br />be waiver of or preclude ice exercise of
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<br />Interest. Any lorirearance by Lander is exercising any dti m or cernedy shall not a
<br />12. Successors and Assigns Bofunt3; Joint and Several Liability; Co-Signers. The covenants and agmements
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<br />of this Security Instrument shall bind and benefit the successr its and assigns ere Lender and 9ortower, subject to the grouts ores of
<br />be Joint and several. Any Borrower who co-signs Ibis Security Instrument
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<br />greerrremt
<br />Paragraph g.b. Borrower's covenants and a s shall
<br />interest M
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<br />e t and convey tt+Tnf Borrower's
<br />but does not execute the Note. (a) is co-signing this Security Instrument only to mortgage. ey
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<br />the Property under the terms of this Security Instrument: (b) is not personally obligated to pay the sums secured by tics Security
<br />to extend, modify, forbear or make any acaorraruodatons with
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<br />Instrument: and (c) agrees that Lender and any other Borrower may agree
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<br />regard to the term of this Security Inat+runrent at the Note without that Borrower's consent.
<br />13. Notices. Any notice to Borrower preclde:.{ for In this Security Instrument shall be given by delivering tt cr by treading It by
<br />rust class mall unless applicable law requires use cf another method. The notice shall be directed to the Property Address or any
<br />_
<br />ether address Borrower designates by notice to Lender. Any notice to Lender shelf be given by first clasz mart to Lender's
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<br />address stated herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument
<br />sheW be deemed to have been given to Borrower or lender when given as provided In this paragraph.
<br />5:
<br />14. liOVerninjf Law; Severability. 'his Security Instrument show be governed by Federal law and the law of the
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<br />Jurisdiction fu which the Properly is located. In the event that any provision or douse of this Security Instrument or the Note conflicts
<br />be
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<br />with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can given effect
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<br />without the conllcting provision. To this end the provisions of Inis Security Instrument and the Note are declared to be severable.
<br />�_. ., :rd
<br />Security
<br />ply• PY bstrurtrarnt.
<br />15. Borrower's Co Borrower shall be given one conformed co of this
<br />16. As of Rents. Borrower unconditionally assigns and transfers to Lender as the rents and revenues of the
<br />Properly. Borrower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs each tenant of the
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<br />Property to pay the rents to Lender or Lender's agents. However. prior to Lender's notice to Borrower of Borrower's breach of any
<br />covenant 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 />1
<br />additional security only.
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<br />If Lender gales notice of breach to Borrower. (a) all rents received by Borrower shad 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 shag be entitled to collect and receive all
<br />of the rents of the Properly: and (o) each tenant of the Property shag pay all rents due and unpaid to Lender or Lender's agent on
<br />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 Lender
<br />from exercising its rights under this Paragraph 113.
<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 ins a breach. Any eppticamion of renia anon toot
<br />cure or waive any default or invalidate any other right or remedy of Lender. This assignment of rents of the Property shag terminate
<br />when the debt secured by the Security Instrument Is paid In lug.
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<br />17. Foreclosure Procedure. If Lender requires Immediate payment in full under Paragraph 9,
<br />Lender may invoke the power of sale and any other remedies permitted by applicable law. Lender
<br />shall be entitled to collect all expenses incurred in pursuing the remedies provided In this paragraph
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<br />17, including, but not limited to, reasonable attorneys' fees and costs of title evidence.
<br />If the power of sale is invoked, Trustee shall record a notice of default in each county in which
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