201109591 - Laserfiche WebLink

Browse

20110959� exercised by Lender when the unavailability of insurance is solely due to Lender' s failure to remit a mortgage insurance premium to the Secretary. 10. Reinstatement. Borrower has a right to be reinstated if Lender has required immediate payrnent in full beca.use of Bonower' s failure to pay an amount due under the Note or this Security Instrument. This right applies even after foreclosure proceedings aze instituted. To reinstate the Security Instrument, Bonower sha11 tender in a luxnp sum all amounts required to bring Bonower' s account current including, to the extent they are obligations of Borrower under this Security Instrument, foreclosure costs and reasonable and customary attorneys' fees and expenses properly associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Security Instrument and the obligations that it secures sha11 remain in effect as if Lender had not required immediate payment in full. However, Lender is not required to pemut reinstatement if (i) Lender has accepted reinstatement after the commencement of foreclosure proceedings within two years ixnxnediately preceding the commencement of a current foreclosure proceeding, (ii) reinstatement will preclude foreclosure on different grounds in the future, or (iii) reinstatement will adversely affect the priority of the lien created by this Security Instrument. 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension ofthe time ofpayment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Bonower shall not operate to release the liability of the original Borrower or Borrower' s successor in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Bonower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 12. Successors and Assigns Bound; Joint and Several Liability; Co-Signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Bonower, subject to the provisions of paragraph 9(b). Bonower's covenants and agreements shall be joint and several. Any Bonower who co-signs this Security Instrwnent but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Bonower' s interest in the Property under the terms of this Security Instruxnent; (b) is not personally obligated to pay the sums secured by this Security Instavment; and (c) agrees that Lender and any other Borrower ma.y agree to extend, modify, forbear or make any accommodations with regard to the tenns of this Security Instrument or the Note without that Borrower' s consent. 13. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Bonower designates by notice to Lender. Any notice to Lender sha11 be given by first class mail to Lender' s address stated herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security Instruznent sha11 be deemed to have been given to Borrower ar Lender when given as provided in this pazagraph. 14. Governing Law; Severability. This Security Instrument shall be governed by Federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not afFect other provisions of this Security Instrwnent or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 15. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 0451112110 FHA Deed of Trust-NE 4/96 VMP p VMP4R(N� (1109) Wolters Kluwer Flnancfal Services Page 6 of 10