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i� aTY'tC�f'- 90- 107211 1, r 9. Graw* for Aee.laraaon of Data. iblations issued by the Seetary in the cae of payment defaults, require b1 ft Leader ay, except a Wy rg imaed(ate payment in full of all sums secured by this Security Instrument if: (I) Borrower defaults by failing to pay in full any monthly paymetlt ngttlred by this Security Instrument prior to or on the due date of the next monthly payment, or (ii) Borrower defaults by falling, for a period of thirty days, to perform any other obligations contained in this Security Instrument. (b) Sale VYYhout Cram m Appsnovd. Leader shall, if permitted by applicable law and with the prior approval of the Seer M- m*dm iasa,ditaw pgywous is OA of all the surm secured by this Security Instillment if: (i) Ail of part of the pmpeny is attserwise transferred (other than by devise or descent) by the Borrowa, am (ii) The properly is not occupied by the purchaser or grantee as his or her primary or secondary residence, or the purchaser or Str nee does so occupy the Prgrerii he his or her credit has not been approved in w rdwoe with the mWkenw" of the Secretary- (C) No Web". 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) Regotladon 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 authorize acceleration or foreclosure if not permitted by regulations of the Secretary. 10. Rgh"llemeal, 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 bring Borrower's account current Including, to the extent they we obligations of Borrower under this Security Instrument, foreclosure costs and reasonable and customary attorney's fees and expenses properly associated with the foreclosurc procte ing. Upon reinstatement by Borrower. this Security Instrument and the obligations that it secures shall remain in effect as i f Lender had not required Immediate payment in full. However, Lender is not required to permit reinstatement if: (I) Lender has accoed reinstatement after the commencement of foreclosure proceedings within two years i,`stmediately preceding the ueN current l sy ff�e ceforeclosure Instrument. different grounds in the futtr, or i) reins atementwiladversel a th priority of the lien will by this Security IL Borrower Not Relauedi Forbearance By Leader Not a Waiver. Extension of the time of payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operste to reuse the liability of the original Borrower or Borrower's successor in interest. Lender shall not be required to commessce proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the originae Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or prelude the excj,;6e of any right at tamed- . IL Successors and Assigns Based; Joint and Several Liability; CO-Signers. The covenants and agreements of this Security Instrument shall bind nd benefit the successors nd 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 Instrument or the Note without that Borrower's consent. V. 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 of another method. The notice shall be directed to the Property Address or any address other stated herein sor any add" designaits by notice to Borrower. Any nnotice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 16. Gover'nlag Law; Severabiliy. This Security Instrument shall be governed by Federal law and the law of the jurisdiction in which pl blehlaw, such cionlocated. all not affect that o her p provision visiions ofrthis Security this Instrument oinstrument he Noteth�hich can be given with effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 15. Borrower's Copy. Borrower shall be given one conformed copy of this Security Instrument. 16. Amignmeol of [tents. 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 and 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 Borrower's breach of any cove- nant or agreement 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 trustee for benefit of Lender only, to be applied in the sums secured by the Security Instrument: ( b) Lender shall be entitled to collect and receive all of the rents of the Propem ; 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 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 ut 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. • :.c; •1. ,:JT t Nf its �. f �• .. , ..�, ,rte••- - .e i I