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<br />2008.070.3 <br /> <br /> <br />If the Property is sold pursuant to this paragraph 7, Borrower or any person <br />holding possession of the Property through BOrrower shall immediately surrender <br />possession of the Property to the purchaser at such sale. If possession is not surrendered, <br />Borrower or such person shall be a teniU1t at sufferance and may be removed by writ of <br />po.ssession. <br />If the Lender's interest in this Security Instrument is held by the Secretary and the <br />Secretary requires. immediate. payment in full under Paragraph 7 of the Subordinate Note, . <br />the Secretary may invoke the nonjudicial power of sale provided in the Single Family <br />Mortgage Foreclosure Act of 1994 ("Act") (12 U.S.C. 3751 et seq.) by requesting a <br />foreclosure commissioner designated under the Act to commenCe foreclosure and to sell <br />the Property as provided in the Act. Nothing in the preceding sentence shall deprive the <br />Secretary of any rights otherwise available to a Lender under this paragraph or applicable <br />law. <br />9. Borrower's Right to Reinstate. Borrower has no right to reinstate the loan <br />after Lender has accelerated the sums secured hereby. Lender may . allow Borrower to <br />reinstate the loan providing that: (a) Borrower pays Lenderallswns which would be <br />. then due under this Security InSt1'un1ent and the Note had no acceleration occurred; . (b) <br />Borrower cures all breaches of any other covenants or agreements of Borrower contained <br />in this Security Instrument; (c ) Borrower pays all reasonable expenses. incurred by Lender <br />and Trustee in enforcing the covenants and agreements of Borrower contained in this <br />Security Instrument. and in enforcing Lender's and Trustee's remedies as provided in <br />paragraph 7 thereof, including, but. oot . lintited to. reasonable attorneys' fees and <br />expenses; and (d) Borrowertakes..suchaction as Lender may reasonably requi11e to assure <br />that the lien of this Security Instrument shall continue unilnpaired. Upon such payment <br />and cure by Borrower, this Security Instrument and the obligation secured hereby shall <br />remain in full force and effect as if no accelerationhac1 occurred. <br />10. Assignments of Rents; Appointment of Reteiver;Lender in Possession. <br />. As additional security hereunc1er, Borrower hereby assigns to Lender the rents of the <br />Property, provided that Borrower shall, prior to acceleration under Paragraph 7 hereof or <br />. abandonment of the Property, have. the. right to collect and retain such rents as they <br />become due and payable.. . <br />. Upon acceleration under paragraph 7 hereof or abandonment of thl:lProperty, <br />Lender, in person. by agentor.byjudlciallyappointed receiver shall be entitl~d to enter. <br />upon, take possession of and. manage the Property and to. collect the rents of the Property <br />including those past due. All rel1t$collectedby Lender or the receiver shall.he applied <br />first to payment of the costs of management of the Property and collection rents, <br />including, but not limited to,.. receiver~s. fees,. premiums on receiver's bonds and <br />reasonable attorney'siees, and then to the swns secured by this Security Instrument. <br />.Lender and the receiver shall be liable to account onlyfor those rents actually received. <br />1l..Release~ Upon.paymeotof all swnssecured by this Security Instrument, <br />Lender shall release this Security Instrument without charge to Borrower. Borrower shall <br />. pay all costs of recordation, if any. . . <br />