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90.107255 Any application of the proceeds to the principal shall not extend or postpone the due date of the monthly payments. which to pay referred ll outstanding indebtednes's under the Note and of such Instrument cxcms paid proceeds e nti y t gally entitled thereto. i. Fees. Lender may collect fees and charges authorized by the Secretary. 9. Grounds for Accelenition of Debt. immediate a Lender eat io full except all Burns secured la this issuer by the S Instrument fin the case of payment defaults. require olr Borrower he due date defaults of rhfailing osr monthly pollen[ monthly payment required by this Security Instrument prior to (ii) Borrower defaults by failing, for a period of thirty days, to perform any other obligations contained in this Security Instrument. (b) Sak Wilbottt Credit Approval. Lender shall, if permitted by applicable law and with the prior approval of the Secretary, require immediate payment in full of all the sums secured by this Security Instrument if: (i) All or part of the Property is otherwise transferred (other than by devise or descent) by the Borrower, and (ii) The Property is not occupied by the purchaser or grantee as his or her primary or secondary residence, or the purchaser or grantee does so occupy the Property but his or bet credit has not been approved in accordance with the requirements of the Secretary. (e) No %'Waiver. 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. Ids iNegulatlens of HUD Secretary. In many circumstances regulations issued by the Secretary will limit Lender's rights In thecase of payment defaults to require immediate pea %ment in full and foreclose if not paid. This Security Instrument does not auttflorize acceleration or foreclosure if not permitted by regulations of the Secretary. 10. Reinala"Micwt. Borrower has a right to be reinstated if Lender Itaa required immediate pa }ment in full because of Borrower's failure to pay an amount due under the Note or this Security Instrument. This right applir, 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 attorneys' fees and expenses properly associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Security Instrument and the obiigarivrn titer it secures shall rcntain in effect as if Lender had not required Immediate payment in full. However, Lender is not required to permit reinstatement if: (i) Lender has accepted reinstatement after the commencement of foreclosure proceedings witbin m P s ears immediately preceding the commencement of a current foreclosure proceeding, iii) reinstatement will preclude foreclosure on different grounds in the future. or (iii) reinstatement will adversely affect the priority of the lien cv:aa sd by this Security Instrument. 11. Borrower Not Released; Forbearance 814 Leader Not u 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 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 Tei'tlse 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 original Borrower or Borrower'+ successors in interest. Any forbearance by Lender in exercising any rigilt or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 12. Successors and 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 Securiti. Instrument only to mortgage, grant and convey that Borrower's interest in the Propeeny under the terms of this Security In:sarument: (b) is not personally obligated to pay the sums secured by this Security Instrument: and (c) agrees that lender and any other Borr:nser may agree to extend. modify, forbear or make any accommodations with regard to the term of this Security instrument or the Note without that ROrrowel', consent. 13. Notices. Any notice to Borrower provided for in chic Security Instrument shall be given by delivering it or by mailing it b► first class mail unless applicable law requires use of auother 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 Eisen to Burrower or Lender when given st, provided in this paragraph. 14. Governing Law; Sever ability. This Security Instrument shall be governed by I:edcral law and the law of the jurisdiction in which the Property is located. in the event that any prosision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect tither pros isions of this Security I nstrunlent or the Note which can be given effect without the conflicting proision. fly Ibis end the prl loons of this Security Instrumeni and the Note are declared to be severable. 14. Bnrrov►ePs Cope. Borrower shall 11e gnrn title conhxmed :ory tit this Security Instrumerlr. Ito. Assignment of Rents. Borrower unconditionalh essr.n, and traosters to 1 ender ail the rents and re%enus; f e1" she Property. Borrower authorises Lender or Lender's agents ill eollco the rents and ret euucs and hereby dlrech each tenant of the Property to pay the rents to Lender or I cadet's agents. Htmocr. prior w 1 ender', notice to Borrower of Borrower's breach of any cot-enant or agreement in the Security Hsi rimient. Borrlm%, r shall collect and teienc all rent, and retcnucs of the Propert} ai ertsa;ee for the benefit of 1 ender and Butrower. f ills .is,lgnnicnt tit tents :onstuutcs an absolute assignment and not an asswinnient for additional sccuruy oniy. If Lender gives notice of breach to Borrower: tat all rents le:ened by Borrower shall he ileld hs Horrtmer is trustee for benefit of Lender only, to he applied to the sums securest by Ills yeculily Instrallicnl. (b) I cndcl shall he :nulled to :ells. l and rccci%c all of the rents of the Property : .fnd tcf each Icnanl of the Pr4trerls shall pay :111 Icnts tlue and unpaid to I ender or Lender's agent on I endt,`t's 1 \rlllell delrland it-- the tenant. Borrpwer hits not c\e :tiled at'% ptlUt as igullnetll oI lile relnls and 11.1, 11411 ,Ind w Ill 11411 petlotlll ally. ila 111,11 worth) present I ender from exercising its rights tinder this paragraph Ih. 1 cader%hall uol he Icqulred locnlet urull, tal,e:onuol of of tll,unt;un like Pnsts:us berme of after CI%lll: nollce of hlca:h to Borrower. flowerer. I ender of it ludici-dly appomtcd le:enel nlay do so at ,ul% nm: tile'%'+ a hlea:h. \ns application of rents shall not :tile or wane any .ielaull ill ulsandale ally olhel 11011 to t :meth of I cadet I Ills asslen,ncnl tit n•nts tit the Propert) shall terminate shell 111e debt Betided Is% the 1c:tuus Insuunlenl Is p,nd 111 11111 _ , r ire