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CASE #: NE3212335781729
<br />DOC ID #: 0004903231501004
<br />(c) No Waiver. If circumstances occur that would permit Lender to require immediate payment in full, but Lender does
<br />not require such payments, Lender does not waive its rights with respect'to subsequent events.
<br />(d) Regulations of HUD Secretary. In many circumstances regulations issued by the Secretary will limit Lender's
<br />rights, in the case of payment defaults, to require immediate payment in full and foreclose if not paid. This Security
<br />Instrument does not authorize acceleration or foreclosure if not permitted by regulations of the Secretary.
<br />(e) Mortgage Not Insured. Borrower agrees that if this Security Instrument and the Note are not determined to be
<br />eligible for insurance under the National Housing Act within 60 days from the date hereof, Lender may, at its option,
<br />require immediate payment in full of all sums secured by this Security Instrument. A written statement of any authorized
<br />agent of the Secretary dated subsequent to 60 days from the date hereof, declining to insure this Security Instrument and
<br />the Note, shall be deemed conclusive proof of such ineligibility. Notwithstanding the foregoing, this option may not be
<br />exercised by Lender when the unavailability of insurance is solely due to Lender's failure to remit a mortgage insurance
<br />premium to the Secretary.
<br />10. Reinstatement. Borrower has a right to be reinstated if Lender has required immediate payment in full because of
<br />Borrower's failure to pay an amount due under the Note or this Security Instrument. This right applies even after foreclosure
<br />proceedings are instituted. To reinstate the Security Instrument, Borrower shall tender in a lump sum all amounts required to
<br />bring Borrower's account current including, to the extent they are obligations of Borrower under this Security Instrument,
<br />foreclosure costs and reasonable and customary attorneys' fees and expenses properly associated with the foreclosure
<br />proceeding. Upon reinstatement by Borrower, this Security Instrument and the obligations that it secures shall remain in effect
<br />as if Lender had not required immediate payment in full. However, Lender is not required to permit reinstatement if: (i) Lender
<br />has accepted reinstatement after the commencement of foreclosure proceedings within two years immediately preceding the
<br />commencement of a current foreclosure proceeding, (ii) reinstatement will preclude foreclosure on different grounds in the
<br />future, or (iii) reinstatement will adversely affect the priority of the lien created by this Security Instrument.
<br />11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time of payment or modification
<br />of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall
<br />not operate to release the liability of the original Borrower or Borrower's successor in interest. Lender shall not be required to
<br />commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization
<br />of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's
<br />successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the
<br />exercise of any right or remedy.
<br />12. Successors and Assigns Bound; Joint and Several Liability; Co- Signers. The covenants and agreements of this
<br />Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of
<br />paragraph 9(b). Borrower's covenants and agreements shall be joint and several. Any Borrower who co -signs this Security
<br />Instrument but does not execute the Note: (a) is co- signing this Security Instrument only to mortgage, grant and convey that
<br />Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums
<br />secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or
<br />make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent.
<br />13. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it
<br />by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or
<br />any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's
<br />address stated herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security
<br />Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph.
<br />14. Governing Law; Severability. This Security Instrument shall be governed by Federal law and the law of the
<br />jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note
<br />conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be
<br />given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to
<br />be severable.
<br />15. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
<br />16. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any
<br />Hazardous Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property
<br />that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or storage on
<br />the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential
<br />uses and to maintenance of the Property.
<br />Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by any
<br />governmental or regulatory agency or private parry involving the Property and any Hazardous Substance or Environmental Law
<br />of which Borrower has actual knowledge. If Borrower learns, or is notified by any governmental or regulatory authority, that
<br />any removal or other remediation of any Hazardous Substances affecting the Property is necessary, Borrower shall promptly
<br />take all necessary remedial actions in accordance with Environmental Law.
<br />As used in this paragraph 16, "Hazardous Substances" are those substances defined as toxic or hazardous substances by
<br />Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic
<br />pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in
<br />this paragraph 16, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate
<br />to health, safety or environmental protection.
<br />NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />17. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all the rents and revenues of the
<br />Property. Borrower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs each tenant of the
<br />Property to pay the rents to Lender or Lenders agents. However, prior to Lender's notice to Borrower of Borrower's breach of
<br />any covenant or agreement in the Security Instrument, Borrower shall collect and receive all rents and revenues of the Property
<br />as trustee for the benefit of Lender and Borrower. This assignment of rents constitutes an absolute assignment and not an
<br />assignment for additional security only.
<br />Initials:
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