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2011Q32�9
<br />from the date hereo� Lender may, at its option, require immediate payment in full of all sums sectued by
<br />Uris Security Inshvment A written statement of any authorized agent of the Secreta�y dated subse�uent to
<br />6 0 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
<br />may not be exercisedby Lender when the unavailability of insurance is solely due to Leader' s failure to remit
<br />a mortgage insurance premium to the Secretary.
<br />10. Reinetatewent Borrower has a right to be reinstated if Lender has required im,,,�� payment in full
<br />because of Borrower's failure to pay an amount due under the Note or Uvs Seciuity Instrument This right applies
<br />even after foreclosure proaeedings are instituted. To reinstate the Security Instrument, Borrower shall tender in a
<br />lump sum all amounts required to bring Borrower's account current including, to the extent they are obligarions of
<br />Bonower under this Security Instrument, foreclos�tte cosfs and reasonable and customary attomeys' fees and expenses
<br />pro�rly associate@ with the forecloswe proceeding. Upon reinstatement by Borrower, this Security Instrument and
<br />the obligations thaY it secwes shall remain in effect as if Lender had not required immediate payment in full.
<br />However, I.ender is not required to permit reinstatement if (i) Lender has accepted reinstatement after the
<br />commencement of foreclosure proceedings within two years immediately preceding the commencement of a current
<br />for�losure proceeding, (ii) reinstatement will preclude foreclosure on different groimds in the future, or (iri)
<br />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
<br />modification of amortization of the sums secured by this Security Insh ument granted by Lender to any successor in
<br />interest of Borrower shaII not operate to release the liability of the original Borrower or Borrower's succesaors in
<br />interest Lender shall not be requited to commence proceedings against any successor in interest or refuse to extend
<br />time for payment or otherwise modify amortization of the sums secured by this Security Tnslr�ment iry reason of any
<br />demand made by the originaI Bonower or Borrowet's successors in interesK. Any forbearance by Lender in exercising
<br />any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy.
<br />12. Sacceasors and Assigns Bonnd; Joint and Several Liability; Co-Signers. The covenants and agreements
<br />of this Security Instrument shall bind aad benefit the successors and assigos of Lender and Horrower, subject to tha
<br />provisions of paragraph 9(b). Bortower' s covenants and agreements shall be joint and severaL A� Borrower who
<br />co-signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to
<br />mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Inskrument; (b)
<br />is not personally obligated to pay the sums secured by tUis Sec�uity Insm�men� and (c) agrces that Lender and any
<br />other Bonower may agree to exte,�nd, modify, forbear or make aay accommodations with regazd to tke tenns of this
<br />Security Inshvment or the Note without that Borrower's conseak
<br />13. Noflccs. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it ar
<br />by mailing it by first class mail imless applicable law requires use of another method The notice shall lre directed
<br />to the Properiy Address or aay other address Borrower designates by notice to Lender. Atry notice to Lender shall
<br />be given by first class mail to Lender' s address stated herein or any address Lender desigaates by notice to Borrower,
<br />tlny notice provided for in this Security Instrument shall be deemed to have been given to Borrower ar Lender when
<br />given as provided in this ParagTaPh.
<br />14. Governing I.aw; Severability. This Security Insirument shall be governed by federal law and the Iaw of
<br />the jurisdiction in wlrich the Properly is located In the event that any provision or clause af this Securily Instrument
<br />or the Note conflicts with applicable law, such conflict shall not affect other pravisions af Uus Security Inshwnent
<br />ar the Note which can be given effect without the conflicting provision To Utis end the provisions of this Security
<br />Instrument and the Note are declared to be severable.
<br />15. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of tivs Security Insttument.
<br />16. Hazardons Snbstancea Borrower shall not cause or petmit the presence, use, disposal, storage, or release
<br />of any Ha�ardous Substaaces on or in fhe Property. Borrower shall not do, nor a11ow anyone else to do, anything
<br />affecting the Property that is in violation of any Environmetttal Law. The preceding two sentences shall not apply
<br />to the presence, use, ar storage on the Property of small quantities of Hazardous Substances that aze generally
<br />recognized to be appropriate to normal residential uses aad to maintenance of ihe Properiy.
<br />Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other
<br />action by any governmental or regulatory agency or private party involving the Property and any Ha�rdovs
<br />Sl�bstance or Environmenfal Law of wluch Bortower has actual knowledge. If Borrower learns, or is notified by any
<br />governmeatal or regulatory authority, that any removal or other remediation of any Ha�ardous Substances affecting
<br />the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with
<br />Envirommental Law.
<br />As used itt this paragraph 16, "Hazardous Substaaces" are those substances defined as toxic or hazazdous
<br />substances by Enviro�ental Iaw and the following substances: gasoline, kerosene, other flamcnable or toxic
<br />petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde,
<br />and radioactive materials. As used in this pazagraph 16, "Envirommental Law" means federal laws and laws of the
<br />jwtisdiction where the Propetry is la;ated that relate W health, safety or enviroffieatal protection.
<br />NON-UNIFORM COVENANTS. Boaower and Lender fittther covenant and agree as follows:
<br />17. Asaignment of Rents. Bonower uaconditionally assigns and traasfers to Lender all the rents and revenuea
<br />of the Property.. Borrower authorizes Lender or Leader's agents to collect the rents and revenues and hereby directs
<br />each tenant of the Property to pay the rents to Lender or Lender's agents. Aowever, prior to Lender's notice to
<br />Bonower of Borrower' s breach of any covenant or agreement in the Se�w'ity Instrument, Borrower shall collect and
<br />FHA N�R43KA D� OF TRU3T - M ERS DodNsg�e �
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