201204349 - Laserfiche WebLink

Browse

2 01204349 leasehold, Borrower shall comply with the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and fee title shall not be merged unless Lender agrees to the merger in writing. 6. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnarion or other taking of any part of the Property, or for conveyance in place of condemnation, are hereby assigned and shall be paid to Lender to the extent of the full amount of the indebtedness that remains unpaid under the Note and this Security Instrument. Lender shall apply such proceeds to the reduction of the indebtedness under the Note and this Security Instrument, first to any delinquent amounts applied in the order provided in pazagraph 3, and then to prepayment of principal. Any application of the proceeds to the principal shall not extend or postpone the due date of the monthly payments, wluch are referred to in paragraph 2, or change the amount of such payments. Any excess proceeds over an amount required to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity legally entitled thereto. 7. Charges to Borrower and Protection of Lender's Rights in the Property. Bonower shall pay all govemmental or municipal charges, fines and impositions that are not included in pazagraph 2. Bonower sha11 pay these obligations on tnne directly to the entity wluch is owed the payment. If failure to pay would adversely affect Lender's interest in the Property, upon Lender's request Bonower sha11 promptly fiuY►ish to Lender receipts evidencing these payments. If Bonower fails to make these payments or the payments required by pazagraph 2, or fails to perform any other covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in banlffuptcy, for condemnarion or to enforce laws or regularions), then Lender may do and pay whatever is necessary to protect the value of the Properiy and Lender's rights in the Property, including payment of taxes, hazard insurance and other items mendoned in paragraph 2. Any amounts disbursed by Lender under this paragraph shall become an addirional debt of Bonower and be secured by this Security Instrument. These amounts shall beaz interest from the date of disbursement at the Note rate, and at the option of Lender shall be immediately due and payable. Bonower shall promptly discharge any lien which has priority over this Security Instrument unless Bonower: (a) agrees in writing to the payment of the obligarion secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien wluch may attain priority over tlus Security Instrwnent, Lender may give Bonower a notice identifying the lien. Bonower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of norice. 8. Fees. Lender may collect fees and charges authorized by the Secretary. 9. Gronnds for Acceleration of Deb� (a) Default. Lender may, except as limited by regularions issued by the 5ecretary in the case of payment defaults, require iaunediate payment in full of all sums secured by ttus Security Instnzment if: (i) Bonower defaults by failing to pay in full any monthly payment required by tlus Security Instrument prior to or on the due dale of the next monthly payment, or (ii) Bonower defaults by failing, for a period of thirty days, to perform any other obligations contained in tlus Security Instrwnent. (b) 5ale Without Credit Approval. Lender shall, if permitted by applicable law (including secrion 341(d) of the Garn-St. Germain Depository Institutions Act of 1982, 12 U.S.C. 1701j-3(d)) and with the prior approval of the Secretary, require immediate payment in full of all sums secured by this Security Instrument if: (i) All or part of the Property, or a beneficial interest in a trust owning all or pazt of the Property, is sold or otherwise transferred (other than by devise or descent), and (ii) The Property is not occupied by the purchaser or grantee as lus or her principal residence, or the purchaser or grantee does so occupy the Property, but his or her credit has not been approved in accordance with the requirements of the Secretary. FHA NEBRASKA DEED OF TRUST - MERS NEDOTZ.FHA 03/21/12 Page 4 of 9 Dodileg/c � www.docmaglc.com Illllllulul�lllllllllllllllluulllllllllllllllulll