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201203502
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201203502
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Last modified
7/9/2017 8:07:46 PM
Creation date
5/2/2012 3:39:22 PM
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DEEDS
Inst Number
201203502
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20]203502 <br />Any amounts disbursed by Condor under this paraga-eph shall bwoinc an additional debt of Borrower and be <br />secured by this Security Instrument_ These anmunis shall hear interest from the date of disbursenutit, at the <br />Nate rate, and at the option of Lundar, shall he immediately due and payable_ <br />Borrower stall nn.n..uly di. -R...,,,. r -, —1.i.-1. 1...—i—ie.....cr A.ie qr. int rncm,m_r_n_I �_mliec Ruvnuirr <br />(a) agtees in writing to the payment of the obligation secured by the lien in a manner acceptable to Leader; <br />(h) contests in good faith the lien by, or dcfcnds against enforcement of the lien in. legal proceedings which <br />in [be Lender's opinion operate to prevent the enforcement of the lien; or (c) saccus frons the holder of the <br />It,. a ens eati�larI r to I Moder "nhordiontim. the lien In his Recant, Instrument If Lender <br />n agrcrm _. <br />detemlincs that any part of Ill, Proparly is subject to a lien which any attain priority over this Security <br />Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lion or take <br />one or more of the actions set font, aboyc within 10 days of the giving of notice_ <br />B. Fees. Lender may collect fees and charges authorized by the Secretary. <br />9. Grounds for Acceleration of Debt. <br />(a) Default. Lender may, except as limited by regulations issued by the Secretary, in the case of payment <br />defaults, require immediate prvrncid in full of all sums secured by Otis Security Instrument if. <br />(i) Borrower defaults by failing to pay in full any monthly payment required by this Security <br />Instrument prior to or on the due date of the next monthly payment, or <br />(ti) Borrower decanits by fulling, for a period of thirty days, to perform any fit he obligations <br />oontaired it this Security Instrument. <br />(b) Sale Without Credit Approval. Lender shall, ifpceriued by applicablelaw(including Section <br />341(d) fthe Gar. -St. (1conain Depository Institutions Act of 1982, 12 U.S.C. 1701j -3(d)) and with <br />the prior approval of the Semciary, orquite immediate payment in full of all sums secured by Mid <br />Security Instrument If: <br />(i) All or part of the Prop.Ov, or a b ... ficial iuW cll in a torso owning all or part of the Property, is <br />sold or othouisr. tran,termed Iniher than by deyi.cr or descent). and <br />(n) The Property is not occupied by the purchaser or grardec as his or her principal residence, or the <br />purchaser or gmnme docs so occupy the Property but his or her credit has not been approved in <br />accordance with the r:qumrements of the Secretary. <br />(o) No Waiver. If circmustances occur that would pcnuit Lender to require immediutepayment in hill, but <br />Lender dues not require such payments, Lender does not waive its ripjds with tepcct to subsequent <br />event.. <br />(d) Reguiationsof HUD Secretary. in many circuristancesreguiatiun; issued by mins Secretary will limit <br />Lender's rights, in the cmc of payment defaults, to require mantediate payment in full and Foreclose if <br />not paid. This Security Instrument does' not authorize acceleration or foreclosure it not permitted by <br />tegulatious fthe Sc.j txoy_ <br />(e) Mortgage Not Insured. Borrower agrees that if this Security instrument and the Note arc not <br />determined to be eligible for imsurmmc muter Om National Housing Act within 60 days from the date <br />hereof, Lender may, at its option, require immediate payment in fill of all sums secured by this <br />Security Instrument A written statement of any authorized agent of the Sucretaty dated subsequent to <br />60 days from the date hereof; decliming to insure this Security insmument and the Note, shall be <br />deemed conclusive proof of such incligihility_ Notwithstanding the foregoing, this option may not be <br />rHn cue or mud NE d96 <br />V1.1P S '1'dP4WNE101 G51 OD <br />W D los K'u.we, rinanui_I Sero— PaAa 1.11D <br />
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