201205888 - Laserfiche WebLink

Browse

201205888 116. Governing Law; Severabifity; Rules of Construction. This Security hishurrient shall be governed by federal law and the law of the jurisdiction in whizh the Property is located Alt rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract oritanightbe silent but such silence shall not be construed as a probibiltion against agreement by cautract. 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 Instrument or the Note which can be given effect without the conflicting provision. As used in this Secui* Instrument (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender, (b) words in the singular shall mean and include the plural and vice versa; and (c) the word 'may" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and ofthis Security InStrUnuent. 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed. contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer or title by borrower at a future date to a purchaser - If all or any part of the Property or any Interest in the Property is sold or transferred (or If Borrover is not a natural person and a beneficial interest in Borrower is sold or transferred) vvithout Lender�s prior written consent Lender may require immediate payment in full of all sums secured by this Serwity Instrument However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this comi, Lender shall give Borrower notice of acceleration The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument, If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 0. Borrower's Right to Reinstate After Acceleration. If Borrower ineets certain conditions, Borrower shall have the right to have enforcement of Us Security Instrument discontinued at any time prior to the earliest of. (a.) five days before sale of the Property porsomat io any power of sale contained in this Securitv Instrument, (b) such other period as Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrument Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instratient and the Note as ifito acceleration had occurred; (h) cures any default of any other covenants or agrocracratsi (c) pays all expenses incurred in enforcing this Security histrumm� including, but not limited to, reasonable Momeys' fees, property inspection and valuation fees, and other fees incurred for the purpose ofprotecftg Lenders interest in the Property and rights under this Security Instrument and (d) takes such action as Lender rosy reasonably require to assure that Leader's interest in the Property and rights under this Security Instrument, and Borrowees obligation to pay the: sums secured by this Security Instrument, shall continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lcnder� (a) cash; (b) money order; (c� certified cbeck� bank check, treasurers check or cashiefs check, provided any such check is drawn upon an institution whose deposits arc insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer- Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section, 18. NEeRAM Nrg% Famffy-Fennle MWR�ddie Me. MIFORFA [N�UMEW FOM = 1101 VMP 0 VIMPUMEI (110500 Tlekrs Mwer F��W S�. page ii w5 OOOOME9770656