201201294 - Laserfiche WebLink

Browse

201201294 Security Inshvmcnt. A�vritteu statcmci�t of any authorized agcnt of the Scerctary dated stibscquent to 60 days from the date hereof, declining to insurc this Sccurify Insirumcnt and [hc Note, shall bc deemcd conclusive proof of such ineligibility.Notwithstanding thc forogoing, this option inay not be exercised by Lender�vhcn the m�availabiliry ot insurancc is solcly due to Lcnd�'s failurc to rcmit a mortgage insur��ce premium to the Secretary. 10. RelnstatemenGBorrower has a right to bc rcinstatcd if Lcndcr has required irvmediate payment in tull because of Borrower's Yailure to pay an amount duc undcr the Notc or this Sen;uriry Instn�ment. This right applies even atier fo�eclosure procecdings are institutcd To rcinsmtc the Secuiity Lnstmment, Borrower shall tender in a lump sum all amounts rcyoired [o bring BmTOwer's account current ii�cluding, fo thc esfcnt they are obligations of Aonowcr uudcr this Security Instrument, Ybreclosure costs and reasonablc and customary attomcy.s'fces and cspcnses properly associated with the forcclosuro proceeding. Upou rcinstatcmcnt by Borrower, this Sccurity Instrumcut ar�d the obligations that it secures shall rcmain iii effcct as if Lcndcr had not requircd immediate payment in falL Hotvever, Lendcr is not requircd to permit rcinstate�r�ent if: (i) Lcndcr has accepted reinstatement after thc coimnencemcnt of forcclosurc procccdings withiu hvo years immediately preceding thc commencemcnt ot'a cturent forcclosu�c procccdiug, (ii)rcinstatement will prechide forcclosure on di1"ferent grotmds i�i the t'uture, or(iii)reiitstatemcnt�vill adverscly affeet the priority oTthe lien created by this Security Instrumw�t. 11. BorrowerNot Released;ForbearanceBy LenderNot a Waiver. Gstensioo of the timc of paymcnt or modific�tiou of amortization of thc sums sect�rcd by this Security Iustnimeot granted by Le�ider to any succcssor in i��tcrest of Borrowcr shall not operatc to release thc liability of the original Borrower or Rorro�vcr's succcssor in intcrest Lcndcr shall not be re�qnired to corrvnence proceedings against a��y sueccssor in intcrest ox refusc to extend time I'ur pay�nent or uthenvise modify amortization of the sums secared by this Secarity Instn�ment by rcason of airy demaud made by the original Bonowcr or Borro�ver's suecessors in interesL Any forbearunce by Lender in esercising any right or remedy sh�ll not bc x waiver of or prech�de the esereise of any right or rcmedy. � 12. Successorsand AssignsBound;Joint and Several Liability;Co-Signers.7hc covcnants and ageeemeuts of this Secucity Inshumeut shall bind aud benefit the successors and assigns of Lcndcr and $orrower, sabject to the provisions oY paragraph 9(b). Borrower's covenants and agrecmcnts shall bc joiiit and several. Any Borro�vcr who co-signs this Secarity Instrument but does not esecute the Note: (a) is co-signing this Security Inshziment only to mortgage, grant and convcy that Rorrower's intcrest io thc Property under the terms of this Security Iiisrcumcut (b) is not personally obligated to pay thc swns secured by this Secarity lnstnunei�t;and(c)agrees that Lender and any other Borrower may agroc to extcnd, modify, fo�ticar or make any accoi�nodations with regard to thc tcrms of this Sccurity Instrwnent or the Note without that Borrowcr's conscnt. 13. Notices,Any noticc to Borrower provided Yor in this Sccurity I�ishumcnt shall bc givcn by delivering it or by inailing it by first class mail w�lcss applicublc law requires usc of another method. The notice shall be dirceted to thc Properry Address or any other address Borrowcr dcsignates by nolice to Lender. Any notice to Lcndcr shall bc givcn by fiist class mnil to Lcndcr's xddress statcd herein or any address Lender dcsignutcs by noticc to Rorrowcr. Any notice providcd for in this Sccurity lnstrumcnt shall be deemed to havc bccn given to Borrower or Lender when given as provided in this psra�ruph. 14. GoverningLaw; Severability.This Securiry Instrument shall be govcrned by Pederal law and the Iaw of the,ju�isdiction ii�tvhich fhe Property is Ioca[ed. In the cvent that auy pro��ision m-clausc of[his Security lostrtnncnt or the Note conflicts'with applicable law, such couflict shall not affcct othcr provisions of this Sccurity Instrumcnt or thc Notc which can bc givcn cffcc[without thc conflicting provision. To this and the provisions oi this Sccurity Insh-umcnt and thc Notc arc dcclarcd to bc scverablc. FHA Motl3age WITH MERS-NE ��> �^//y� � ReviseA 4/96 Amentlad�104 VMPQ � � ✓ � VMP4NME)�11DEJ00 Wolteis Kluwer Financlal Servlr.es Pqqe 6 of 10 III �II Ifllll I�I II�IIII�I II III�I�I II III I II III I�fll q03302515371 0233 G24 0610 �