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201211096
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201211096
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Last modified
7/20/2017 10:07:56 AM
Creation date
12/27/2012 2:33:21 PM
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DEEDS
Inst Number
201211096
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201211096 <br /> Any amounts disbursed by Lender under this paragraph shall become an addiUonal debt of Borrower and be <br /> securcd by tMs Security lnstrument These amounts shall bear interest from the date of disburscmcnt, at the <br /> Note rate, and at the option of Lender, s}iall be immediately due and payable. <br /> Bormwer st�all promptly disctiarge airy lien which has prionty over this Security Instrument unless Borrower <br /> (a)agrees in writing[o the payment of the obligation secured by the lien in a manner acceptable to Lender; <br /> (b)conlcsts i�good faith thc lien by, or defends against eirt'orcement of the lien in, legal procccdings which <br /> in the Lender's opinion operate to prevent the enforcement of the lien; or(c) secu�es from the holder of the <br /> lien an agrcement satisfactory to Lender subordinating the lien to this Secudty Instrument. If Lender <br /> detennines thal any part of the Property is subject to a lien which may a[tain priority over this SecuriTy <br /> Ins[rumcnl,Lender may give Borrower a notice idenlifying the lien. Borrower shall satisfy the lien or takc <br /> one or more of the aclions set forrh abovc within 10 days of the giving of noticc. <br /> 8. Fees.Lcndcr may collect fees and clwrges authorizcd by thc Secretary. <br /> 9. Grounds for Acceleration of Debt. <br /> (a) Default. Lender may, except as limited b} regulations issucd by the Secretarv, in the case of paymem <br /> defaults, require immediate payment in full of all sums secured by this Secunty Instrumen[if: <br /> (i) Borrower defaults by failing to pay in futl any montlily payment required by this Security <br /> Insuument prior to or on the duc date of the next monthly payment, or <br /> (ii) Borrower defaults b} failing,for a period of thirry days,to perform any other obligations <br /> cornained in this Security Instmment. <br /> (b) Sale Without Credit Approval.Lender shall, if peimitted by applicable law(including Secdon <br /> 341(d) of thc Gam-Si. Germain Dcpository Institutions Act of 1982, 12 O.S.C. 1701j-3(d))and w�th <br /> the pnor approval of the Secretary, require immediate payment in full of all sums sewred by this <br /> Security Instrnmcnt if: <br /> (i) All or part of the Proper[y, or a beneficial interest in a trust owning all or part of the Property, is <br /> sold or othenvise transferred(other than by devise or desceN), and <br /> (ii) The Property is not occupied by the purcttaser or grantcc as his or her princip�il residence, or the <br /> purchaser or gran[ee does so occupy [he Propeny but his or her c�dit has not been approved in <br /> accordance with the requirements of the Secretarv. <br /> (c) No Waiver.If circumstances occur that would permit Lender to require immediate paYment in full, bul <br /> Lendcr does not reqtire such payments, Lender does nol waive its rights with respec[[o subsequent <br /> events. <br /> (d) Regulationsof HUD Secretary.In many circumstanccs regulations issued by the Secretarv��•ill limit <br /> Lender's rights, in the case of paument defaults, to require immediate payment in full and foreclose if <br /> not paid. This Securiry Instmment does not authorize acccicrelion or forcclosure if not permittcd b} <br /> regulations of lhe Secretary. <br /> (e) Mortgage Not Insured.Borrower agrees tttat if lMs Security lnstmment and the Note are not <br /> deteimined ro be eligible for insurance under the National Housing Act wi[hin 60 days from the date <br /> hereof,Lender may, at its option, require immediate paymem in full of all sums secured by this <br /> Sccurity Instnunem. A written statemem of any aulhorized agent of the Secretary dated subsequent to <br /> 60 days from the date hereof, declining to insure this Securiry Ins[rumem and the Note; sktall be <br /> deemed conclusive proof of such ineligibility. Notwithstanding the foregoing,this option may not be <br /> FHA Deatl of TmsCNE q� <br /> VMP� VMP4R(N�('I1D�00 <br /> WORare Kl�v.ar Flnenclal Eervleea Page 5 M'.0 <br />
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