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Pate J of 4 Mr a. 90-w-107233 1P. Growule 11W Acceleration of DeM. to) DshaL Landes may, except as limited by regulmions Issued by The SWOM in th@ can Of PAYO=t defaults, require hoosedim payment in full of all sum secured by this Security Instrument If (I) Borrower defaults by tailing to pay in full any monthly paymifit required by This Security lostrut"of Prior to or on the dw duo of the next monthly payment. or ions Cc tainied sond (0) Borrower defaults by failing, for a period of Wirty days. to perform anY 01ha ObUSSI Is in this ly hatrumvist. (b)ftkVAdsoWCrsdkAppov . Ladershalt. if by appIW* law and with the prior approval ofd be Secretary. require iminietuessi in full of all on am second 6idds Security lastrumcoll It' paysispist (I) Ali or Pon of the Pro" is otherwise triussfamd (adier than by devise or descent) by the Borrower. and (0) no property is not occupied by the purchaser or gramais as bit or her primary or Secondary re&Wc=, Or the Furchow Or gratnee dam so om" the Property but his or her calls has not been approved in accordance wkh the m*dmmtm of ft secretary. le) No Widwor. If circumstances occur that would permit Lender to require Immediate payment in fail, but Lender does not require such payments. Lender does not waive Its rights with respect to subsequent events. M Regaisdons of BUD Sortatory. In many circumstances regulations issued by the Secretary will limit Leader's rights. in the cm of payment defaults, to require Immediate payment in full and foreclose if not paid. This security loosument does aim authorize acceleration or foreclosure if PA permitted by "wintioas of the secretary. N. Relostsitevant. Borrower has a right to be reinstated If Leader has required Immediate payment in full because of due Note or this Security Instrument. This tight applies even after foreclosure V. Borrower's failure to pay an amount under the cut, Borrower shall tender In a Jump sum all amounts requited to are instituted. To reinstate the Security Instrument. ring Borrower's account current including, to the extent they are obligations of Borrowe r under this Security Instrument, fees and expenses properly associated with the foreclosure foreclosure costs amd reasonable and customary attomCY's proceeding. upon r,"jastatement by Borrower, this Security Instrument and the obligations that It secures shall remain in effeCt as If Lender had net ter.111ved immediate payment in fun. However, Leader is not required to permit reinstateintrAt if. (1) Lender hay accepted reinstauemm after the commencement of foreclosure proceedings within two y cars immediately ul preceding the commencement of a current foreclosure proceeding, (h) reinstatement Will Preclude foreclosure on differe-te grounds to the future, or (fill reinstatement will adversely affect the priority of.-'the lien created by this Security Instrument. It. Borrower Not Relawd; Forbeentace 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 Leader to any successor in Interest of Borrower shalP not operate to release the liability or 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 fur payment or otherwise modify amortization 's tit • all Borrower 0 Borrower's of the sums secured by this Security Instrument by mason of any demand made by the origin B w r rrow •c=;s-.rs in !nt!erzst. Any forbettrimce by Lender in eirrowng any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 12. Soccessors tug Assigns Bound; Joint and Several Liability; 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 Instrument or the Note without that Borrower's consent. D. 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 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 shall be deemed to have been given to Borrower or Lender when given as provided In this paragraph. 14. Governing Lowl Sevembgity. 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- law, such shall not affect other provisions of this Security Instrument or the Note which can be given effect plicable conflict without the conflicting provision. To this end the provisions of this Security instrument and the Note are declared to be severable. 19. Borrower's Copy. Borrower shall be given one conformed copy of thih, Security Instrument. 16. AnIgnmenuol Rents. Borrower unconditionally assigns and transfers to Lender all the tents and revenues of the Property. Borrower ataborbes 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 ar. absolute assignment and not as assignment for additional security Only. If Leader 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 the sums secured by the Securit y Instrument: (b) Lender shall be entitled to collect and receive a!L of the rents of the Ptoperty; and qc4euch tenant of the Properiv shall pay all rents due and unpaid to Lender or Lender%;.Wzz on Lender's written demand to the tenant. Borrower has not executed any prior assignmen- of the rents and has net 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 at any time there i-s 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. Pate J of 4 Mr a.