Notification. In the event of a default on an insured mortgage, the lender shall notify the Fund in writing within 30 days of the default. Preclaim Period. During the first 6 months after the loan is in default, the lender may not assign the mortgage loan and its rights under the mortgage to the Fund and make a claim for insurance unless it receives the prior written consent of the Fund. After the loan has been in default for 6 months, either the Fund or the lender may, without the written consent of the other, require filing of a claim and assignment of the loan to the Fund. Preclaim Actions. Upon default and before assignment of the defaulted mortgage loan to the Fund: The Fund may require the lender to exercise any or all rights under the loan instruments including, but not limited to: The appointment of a receiver; Assignment of rents; Realization of collateral security, or rights of offset; and Enforcements of guarantees; Action of forbearance may not be taken by the lender without the prior written approval of the Fund; The lender shall: Advise the Fund as to the possibility of loan modification agreements, recasting, or other methods of forbearance which would be helpful or appropriate; and Make a reasonable effort to cure a default before: Assigning the loan to the Fund, Beginning foreclosure action, or Accepting a deed instead of foreclosure. Preclaim Payments. After receipt of notice of default, the Fund, upon request of the lender, shall make those periodic payments to the lender that are due under the terms of the insured mortgage, except late charges and mortgage insurance premiums. These periodic payments shall continue: From the later of the: Time of default, or First day of the calendar month the lender notifies the Fund of the default; To the date: The insurance claim settlement is paid, or All monetary events of default have been remedied. The Fund has the right of subrogation with respect to all periodic payments made by it under §D of this regulation, including mortgage insurance premiums not paid to the Fund by the lender on behalf of the sponsor. That right is additional to and cumulative with all rights arising from an assignment of an insured mortgage to the Fund and the rights specified in §C(1) of this regulation. Preclaim payments made to the lender by the Fund may not be considered a remedy of the sponsor's default under the terms of the insured mortgage or any collateral agreements. Assignment. The assignment of the mortgage shall be in writing and in a form suitable for recording among the land records in the county where the project is located. The assignment shall include: An assignment to the Fund of all claims of the lender against the sponsor; An assignment of all State and local government contracts for reimbursement of operating costs; and All policies of title or other insurance or surety bonds or other guarantees and all claims under them.