201208839 - Laserfiche WebLink

Browse

N0�2U�� 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 Borrower'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 Insmiment, Borrower shall tender in a lump sum all amounts required to bring Borrower's account current including, to the extent they are obligations of Bonower 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 Instrument and the obligations that it s�ures shall remain in effect as if Lender had not required immediate payment in full. However, Lender is not required to pemut 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 pr�lude foreclosure on different grounds in the future, or (iii) reinstatement will adversely affect the priority of the lien created by this �ecurity Instrument. 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time of payment or modification of amorti7ation of the sums secured by this Se�urity Instrument grante� by Lender to any successor in interest of Borrower shall not operate to release the liability. of the original Bonower or Borrower'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 amortizarion of the sums secured by this Security Instrument by reason of any 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 pre�clude the exercise of any right or remedy. 12. Successars and Assigns Bound; Joint and Several Liability; Co-Signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 9(b). Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs tlus Security Instrument but daes 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 S�urity Instrument; (b) is not personally obligated to pay the sums secured by ttus Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regazd to the terms of this S�urity Instrument or the Note without that Borrower's consent. 13. Nofices. 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 applicable law requires use of another method. T�e notice shall be dir�ted to the Property Address or any other address Bonower designates by notice to Lender. Any notice to Lender shall 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 shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 14. Governing Law; Severability. This Security Instrument shall be gavemed by Federal law 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 applicable law, such conflict shall not aff�t other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declazed to be severable. 15. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Insmiment. FHA Deed of Trust-NE 4/96 VMP Q VMP4R�NE) (1109) Wolters Kluwer Financfal Services Page 6 of 70