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Home My WebLink About0049 . ~n~ ;~~~~~G~atiu~~ ut thr ~ro~cr~l, tu the ~rinri~~al ~hall n~~t c~tenJ ~~r ~u.t{~une thr due cl;itr ~~f th~ munthl~ ~a}nunt., ~~hi~h .u~ rr?rrrz~l t~~ in l'ara±~r.~rh ur rhang~ thi amutujt ul ,uch ~~a~mrnt,. :1n~ {~ru~:er~tti u~er an amuunt reyuir«! tu all uut,tan~finti inclehtc~ln~„ «nJrr th~ Nut~ and thi, Se~urit~ In,trumrnt ~hall hi 4~aiJ t~~ thc rntit~ Ir~all~ ~n~itlrcl ~her~tu. R. t~re,. Lrn~ier ma~ rull«t 1«~ anci ~h~~rees a~?thori~«1 b~ thc Se~r~tan. 9. Grounds for Arcelerati~in of Ucbt. (a) Uefault. Lender may, e~cept a, limited b~• regulation~ i.~uee1 b~ tt~e Se~retar~ in thr ra,< <~t' {~a~ment ~efault~, rec~iiirz immediate payment in f~ll of all tiun~s se~ure~l b~• this Security Inttrumen~ if: ~i) f3urro~~er dei~aultti by~ failing ta pa~~ in t~ull an~• monthl~~ pa~~ment reyuired b~ thi, Serurit~ ln,trumrnt ~rior to ar on the due date of the ne~t momhlp pa~•ment, or ~::1 R.~ rnr ii.~f.~~.lrc 1'~~1~ f'.. ..1 .~f r1.:.~.. .1.~.,~ .i...... .1...~ .L.1:.....:,...,. ..1 .1.: rr~.~ . ~ ..n.,. _ • " -a, ~ _ :b........................ Serurity tnstrumcnt. ~ ~ X X x~~~~~~~ ~ ~ XX ~ ~ X~x~~~X~~XX X~~X ~ X ~X XX x X ~ ~ (d) Regulations of HUD Secretar~•. In many circumstances regulations issued by the Secretary w~ill limit Lender's rights in the ra,e of pa>~ment defaults to require immediate payment in full and foreclose if not paid. This Security Instrument does not authorize acceleration or forerlosure if not permitted bp regulations of the Secretary. 10. Reinstatement. Borro~~~er has a right to be reinstated if ~ender has required immediate payment in t'ull because of l3urro~~er's failure to pa~• an amount due under the Note or this Security lnstrument. This right applies even after fareclosure i~roceedings are instituted. To reinstate the Security lnstrument, Sorrower shall tender in a lump sum all amounts required ~o bring Borro~~er's account current including, to the extent they are obligations of Borrower under this Security lnstrument, ~ e~re~losure costs and reasonable and customary attorneys' fees and expenses properly associated with the foreclosure proceeding. l;~~on reinstatement by Borrower, this Security Instrument and the obligations that it secures shail remain in effect as if Lender ; }~ad not required immediate payment in full. Ho~vever, Lender is not required to permit reinstatement if: (i) Lender has accepted ' r~instatement after the commencement of foreclosure proceedings within tw~o years immediately preceding the rommencement ~~f a current foreclosure proceeding, (ii) reinstatement w~ill preclude foreclosure on different grounds in the future, or (iii) r~in~tatement ~sill adversely affect the priority of the lien created b}~ this Security Instrument. 11. BorroNer tiot Released; Forbearance B~~ Lender Not a Waiver. E~tension of the time of pa~~ment or modification , ,~t amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borro~~~er ~hall not operate to release the liabilit}~ of the original Borrower or Borro~~~er's successor in interest. Lender shall not be required iu ~ommence proceedings against an~• successor in interest or refuse to extend time for pa}•ment or other~rise modif~~ amortization ~~t the sums secured b~~ this Securit~~ Instrument by reason of any demand made b}• the original Borro~~er or Borro~~er's successors j :n interest. Any forbearance b~~ Lender in exercising any right or ;emedy shall not be a~~ai~~er of or preclude the exercise of ; az~~ right or remed~~. ~ ; 12. ~uccessors and Assikns Bound; Joint and Several Liabilit~; Co-Signers. The ro~enants and agreements of this Securit}~ ; In.trument shall bind and benefit the surressors and assigns of Lender and Borrotier, subject to the pro~~isions of paragraph u.h. F3orro~~~er's co~•enants and agreements shall be joint and several. Any Borro~~~er Hho ro-signs this Securit}~ Instrument hut does not execute the Note: (a) is co-signing this Securit}• Instrument only to mortgage, grant and com•e> that Borrower's ni~retit in the Pro~ert~~ under the terms of this Securit~~ Instrument; (b) is not personall~~ obligated to ~ay the sums secured i~~ t)iis Securit~~ Instrument; and (c) agrees that Lender and any other Borro~~~er ma~~ agrec to ettend, modif~~, forbear or make .~n~ arcommodations «itti regard to the term of this Security~ Instrument or the Note ~tiithout that Borro~~~er's ronunt. 13. tiotices. An~~ notice to Borro~~~er pro~~ided for in this Security Instrument shall be gi~~en b~~ deli~~ering it or b~~ mailine ; h~ first cla;s mail unlcss applicable la~s reyuires use of another method. The notice shall be directed to the Propert~~ Ad~ress ; rr an~~ other address Borro~ser designates b~• notice to Lender. Any notire to Lender shall be gi~~en by first class mail to Lender's ~ ,~~ic~ress stated herein or any address Lender designates b}• notice to Borro~+~er. Any notice pro~~ided for in this Securit~~ lnstrument ; ~i~ali be deemed to ha~e been gi~en to Borro~~~er or Lender ~hen gi~~en as pro~~ided in this paragraph. E e ~;o~erning l.aw; Severabilil~. Thic Crc_i~rir~~ Inctn~mant chall hP onyrrnr~l h~• F~riPral 1~~~~ anvl rho I~~~ nPtFin ~~.r ~,YI:.-~:v~ ; ,n ~~hich the Propert~ is located. In the e~ent that any~ provision or clause of this Securit}• Instrument or the Note rontlicts f .~ich applicable la~~, such conflict shail not affect other pro~~isions of this Securit~~ Instrument or the Note ~+hirh ran be gi~en ~ ,•flect ~~ithout the contlicting pro~ision. To this end the pro~~isions of this Securit~ Instrument and the Note are derlared to ~ ~e~ erablc. ~ 15. Borrower's Cop~. E3orro~~er shall bc gn~en one conformed cop~~ o( thi~ Se~urit~~ Intitrumeni. ~ g 16. Assiknment of Rents. Borro~~er un~onditionall~~ assigns and transfers to l.ender all the rents and re~enucs of the Propert~~. , ~3urru~~er authorizes Lender or Lender's agents to collect the rents and re~~enues and hereb~~ directs ea~h tenant of the Propert~ ~a~ the rents te Lender or Lender's agents. Ho~~e~~er, prior to Lender's notice to Borro~ti~r of Borro«-er's breach of an~ :~~~enarzt or agreement in the Securi<<~ Instrument, Borro~~er shail rollect and recei.~e all rents and re~enue, of the Propert~ a~ tru~tec 1or thr henefit of Lender and Borro~~rr. This a~signment of rents ron~titutes an absolute assienment and not an ~,..ignrnent fc~r additional sccurit~ onl~~. li Lender gi~eti notice of brearh to Borros~er. (a) afl rents recei~ed b}~ Borro~~er shall he helcl b~ Borro:~er as trustee for h~•nefit of Le~der onl~, to be applied to the sums secured b~• the Securit~~ Inurument; (b) Lender shall be entitled to collect .,nc1 r«ei~e all of the rents of the Pro~ert~•; and 1~? each ter.ant of the Properh shall pa~~ ali rent: due and unpaid to Lender ,~r I.ender's aeent on I.ender's ~+ritten demand to the tenant. : F3orro~+er has nc~t e~ecuted am~ ~rior a,signment of the rents and has not and uill r~ot ~erform an~~ art that ~~ould pre~ent ' 1~ncier trom ezerri~ing its riehts tmder this paragraph 16. ~ ` Lender shall not be reyuired to enter upon, take control of or maintain the Property befose or after gi~ing notice of breach Borro«er. Ho~~e~er, Lender or a judicially appointed receiver may do so at an}~ time there is a breach. An}~ application ~,f rents shall not cure or ~~ai~e an~~ default or in~-alidate an}~ other right or remedy~ of Lender. This assignment of rent~ of ~he Pro~ert~~ shall terminate ~~hen the debt se~ured b~~ the Securit~~ Instrumcnt is paid in ful{. i~~E~~ ~ a 0 p ~ f ~ "r ,l~ ~'Yc~7 BOOK ' o-` - ~t j.._ `yerr~ a:~.