201206014 - Laserfiche WebLink

Browse

201206014 (c) No Waiver. If circumstances occur that would permit Lender to require immediate payment in full, but Lender does not require such payments, Lender does not waive its rights with respe�t to subsequent events. (d) Regulations of HUD Secretary. In many circumstances regulations issued by the Secretary will limit Lender' s rights, in the case of payment defaults, to require immediate payment in full and foreclose if not paid This Security Instrument does not authorize acceleration or foreclosure if not pemutted by regulations of the Secretary. (e) Mortgage Not Insured. Bonower agrees that if this Security Instrument and the Note are not determined to be eligible for insurance under the National Housing Act within 6 0 DAYS from the date hereof, Lender may, at its oprion, require immediate payment in full of all sums secured by this Security Instrument. A written statement of any authorized agent of the Secretary dated subsequent to 6 0 DAYS from the date hereof, declining to insure this Security Instrument and the Note, shall be deemed conclusive proof of such ineligibility. Notwithstanding the foregoing, this option may not be exercised by Lender when the unavailability of insurance is solely due to Lender' s failure to remit a mortgage insurance premium to the Secretary. 10. Reinstatement. Bonower has a right to be reinstated if Lender has required immediate payment in full because of Bonower's failure to pay an amount due under the Note or this Security Instrument. This right applies even after foreclosure proceedings aze instituted. To reinstate the Security Instrument, Borrower shall tender in a lump sum all amounts required to bring Borrower' s account cutrent including, to the extent they are obligations of Bonower under this Secutity Instrument, foreclosure costs and reasonable and customary attomeys' fees and expenses properly associated with the foreclosute proceeding. Upon reinstatement by Bonower, this Security Instrument and the obligarions that it secures shall remain in effect as if Lender had not required immediate payment in full. However, Lender is not required to permit reinstatemeat if: (i) Lender has accepted reinstatement after the commencement of foreclosure proceedings within two years immediately preceding the commencement of a current foreclosure proceeding, (ii) reinstatement will preclude foreclosure on different grounds in the future, or (iii) reinstatement will adversely affect the priority of the lien created by this Security Instrument. 11. Borrower Not Released; Forbearance by Lender Not a Waiver. Extension of the time of payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Bonower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or othervvise modify amortization of the sums secur� by this Security Instrument by reason of aay demand made by the original Bonower or Bonower' s successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 12. Successors and Assigns Bound; Joint and Several Liability; Co-Signers. The covenan�s and agreements of ttris Security Instrument shall bind and benefit the successors and assigns of Lender and Bonower, subject to the provisions of pazagraph 9(b). Borrower's covenants and agreements shall be joint and several. Any Bonower who casigns this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borrower' s interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Bonower may agree to extend, modify, forbear or make any accommodations with regazd to the terms of ttus Security Instrument or the Note without that Borrower's consenk 13. Notices. Any notice to Borrower provided for in this Security Instrument shall be gxven by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lender. Any norice to Lender shall be given by first class mail to Lender' s address stated herein or any address Lender designates by norice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Bonower or Lender when given as provided in this paragraph. 14. Governing Law; Severability. This Security Instrument shall be govemed by federal law and the law of the jurisdiction in which the Properly is located. 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 FHA NEBRASKA D� OF TRUST - MERS DodYlsg/c � NmOTZ.FHA 03/21/12 Page 5 of 9 www.docmagfc.com III�IIII I�I IIII II�I II� I( II I II II I I IIIIII IIIIIII II III