201206688 - Laserfiche WebLink

Browse

20120665� Security Instrument. A written statement of any authorized agent of the Secretary dated subsequent to 60 days from the date hereof, declining to insure this Security Instrument and the Note, shall be deemed conclusive proof of such ineligibility. Notvvithstanding 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. Retnstatement. 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 sha11 tender in a lump sum a11 amounts required to bring Bonower' s account current including, to the extettt they aze obligations of Borrower under this Security Instrument, foreclosure costs and reasonable and customary attomeys' fees and expenses properly associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Security Instrwnent and the obligations that it secures sha11 remain in effect as if Lender had not required immediate payment in full. However, Lender is not required to permit reinstatement 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 forecIosure 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 Walver, E�ctension 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 Borrower shall not operate to release the liability of the original Bonower or Bonower' s successor in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower 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 Asstgns Bound; Jotnt and Several IJabllity; CaSfgners. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Bonower, subject to the provisions of pazagraph 9(b). Bortower's covenants and agreements shall be joint and several. Any Borrower who co-signs 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 secuted by this Security Instrument; and (c) agrees that Lender and any other Bonower may agree to extend, modify, forbe,ar or make any accommodations with regard to the terms of tlus Security Instrument or the Note without that Bonower' s consent. 13. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applic�ble law requires use of another method. The notice sha11 be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender sha11 be given by first class mail to Lender's address stated herein or any address Lender designates by notice to Bonower. Any notice provided for in this Se,curity Instrument sha11 be deemed to have been given to Bonower or Lender when given as provided in this pazagraph. 14. Gover'rting Law; Severabt(ity. This Security Instrument shalt be govemed by Federallaw and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applic�ble law, such conflict shall not affect other provisions of this Security Instrument or the Note wluch can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note aze declazed to be severable. ni6a6is� FHA Mortgage WffH M9tSNE Revised 4/98 V�P � VMP4N(NE) (1708) Woltera Kluxr er Flnenclal Servicea Page 8 ot 1 G