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201201528
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201201528
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Last modified
3/7/2012 11:27:33 AM
Creation date
2/27/2012 4:28:14 PM
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DEEDS
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201201528
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201201528 <br /> significantly affect Lender's rights in the Property(such as a proczedina in bankruptcy,for condemnation or <br /> to enforce]aws or regutations),then I,ender may do and pay whatever is necessary to protect the value of the <br /> Property and Lender's rights in the Property,including payment oftaxes;l�azard insurance and other items <br /> mentioned in paragraph 2. <br /> Any amounts disbursed b}�Le��der uuder this paragraph shal]become an additional debt of k3orrower and be <br /> secured by this Security Tnstrument.These amounts sha11 6ear intcrest from thc datc of disburscmcnt,at thc <br /> Note rate,and at the optinn of Lei�der,shall be immediately due and payable. <br /> Borrovrer shall promptiy dischargc any licn which has priority over this Security Instrument unless <br /> Sorro�ver.(a)agrees in writing to the payment ui'the obligalion secured by the lien in a manner acceptable <br /> W Lender;(b)contests in gond faith the lien by,or defends against enforcement oFche lien in, legfll <br /> proceedings which in the Lender's opiuion operate to prevent the enforcement of tl�e lien;or(e)secw�es <br /> from lhe bolder of the lien an agreement satisfactory to Lender subordinating thc licn to this SecuriTy <br /> Instrument.If Lender detenniues that any part of ti�e Property is sub.ject to a lien which may attain priority <br /> over this 5ecurity Instrument,Lender may give Borrowcr a noticc idcntifying thc licn. Borro�vcr sha(1 satisfy <br /> the lien or lake one or more of the act.ions szt forth above within 10 days of the�iving of notice. <br /> 8. F22S.Lender may collect fees and charges authorized by the Secretary. <br /> 9. Geounds for Accelerataon of Debt. <br /> (a) �efaUlt.Lender may,cxcept as limited by regulatiotts issued by tlie Secretary.in the case of payment <br /> defaults,require imxnediate payment in full of all sums secured Uy this Securih�Iustrument if: <br /> (i) Borrower defaults by faiting to pay in fiill atry monthly payment required by this Security <br /> Instrument prior to or on the duc datc of thc nca�t monthly payment,or <br /> (ii) Borrnwer defau(ts by failing, fa• a period of thirty days; to pertorm any other obligations <br /> contained in this Sccurity lnstrumcn[. <br /> (b) Sale W1lithouf C¢e�ii4 Approv�l.Lender shall, if permitted by applicable law(including Sectiou <br /> 341(d)of the Ga�•ii,St.Germain Depository Instihrtions Act of 7982, 12 i:.S.C. 1701j-3(d))and with <br /> the prior approval of 1he Secretary,require immediate payme�rt in full of al I sums secured hy this <br /> Security instrument if: <br /> (i) All or part of the Yroperty,or a beneficial interest in a trust owning all or part of the Property,is <br /> sold or otherwise transferred(other than by devise or dcsccnt),and <br /> (ii) The Property is not occupied by the purchaser or grantee as his or her principal residence,or Lhe <br /> purchaser or erantee docs so occupy thc Property but his or lier credit has not been approved in <br /> accordance wii:h the requirements of the Secretary. <br /> (C) No Wamver.lfcirci�rnstances omw�Lhdt would pe�•mit Lender to require immediate payment in full,but <br /> Lender does not require such payments,Lender does not wai��e its rights with respect to subsequent <br /> events. <br /> (d) Regulations of HIUD Secretary.fn many circumstances regulations issued by the Sec��etary will limit <br /> Lender's rights,in tJie case of payine��t defaults,to require immediate payment in iull and foreclose if <br /> not paid.This Securiiy Inslrumenl aues nut aulhurize acceleralion or foreclosure if nol pennitled by <br /> regulalions of the Secretary. <br /> (e) Mortgage Not I�tSUPed.Borrower agrees that if this Security Instrument and the Note are not <br /> determined to be eligible for insurauce under the National Housing Act within 60 days from the date <br /> hcrcof,Lcnder may,at its option,require iinmediate payment in fiill oF all sums secured by this <br /> za��-issaaii i000as�oaoiisiaisz e�oo <br /> FHA Morigage WITF biFRSNE F�vlsetl 4f'JB <br /> VMP p . VMF4N�NE)(1109; <br /> Wolters Kluwer Fnancial Services Fagc 5 oF 10 <br />
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