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201303629
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Last modified
12/31/2013 3:30:11 PM
Creation date
5/7/2013 9:01:29 AM
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DEEDS
Inst Number
201303629
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201303629 <br /> Borrower shall promptly discharge any lien which has priority over this Security Instrument unless <br /> Borrower:(a)agrees in writing to the payment of the obligation secured by the lien in a manner acceptable <br /> to Lender; (b)contests in good faith the lien by,or defends against enforcement of the lien in, legal <br /> proceedings which in the Lender's opinion operate to prevent the enforcement of the lien;or(c) secures <br /> from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security <br /> Instrument.If Lender determines that any part of the Property is subject to a lien which may attain priority <br /> over this Security Instrument,Lender may give Borrower a notice identifying the lien. Borrower shall <br /> satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. <br /> 8. Fees. Lender may collect fees and charges authorized by the Secretary. <br /> 9. Grounds for Acceleration of Debt. <br /> (A) Default. Lender may, except as limited by regulations issued by the Secretary, in the case of <br /> payment defaults,require immediate payment in full of all sums secured by this Security Instrument <br /> if: <br /> (i)Borrower defaults by failing to pay in full any monthly payment required by this Security <br /> Instrument prior to or on the due date of the next monthly payment, or <br /> (ii)Borrower defaults by failing, for a period of thirty days,to perform any other obligations <br /> contained in this Security Instrument. <br /> (B)Sale Without Credit Approval. Lender shall,if permitted by applicable law(including Section <br /> 341(d)of the Garn-St.Germain Depository Institutions Act of 1982, 12 U.S.C. 1701j-3(d))and with <br /> the prior approval of the Secretary,require immediate payment in full of all sums secured by this <br /> Security Instrument if: <br /> (i)All or part of the Property,or a beneficial interest in a trust owning all or part of the Property, <br /> is sold or otherwise transferred(other than by devise or descent), and <br /> (ii) The Property is not occupied by the purchaser or grantee as his or her principal residence,or <br /> the purchaser or grantee does so occupy the Property but his or her credit has not been approved <br /> in accordance with the requirements of the Secretary. <br /> (C) No Waiver. If circumstances occur that would permit Lender to require immediate payment in <br /> full, but Lender does not require such payments, Lender does not waive its rights with respect to <br /> subsequent events. <br /> (D) Regulations of HUD Secretary. In many circumstances regulations issued by the Secretary <br /> will limit Lender's rights, in the case of payment defaults,to require immediate payment in full and <br /> foreclose if not paid. This Security Instrument does not authorize acceleration or foreclosure if not <br /> permitted by regulations of the Secretary. <br /> (E) Mortgage Not Insured. Borrower agrees that if this Security Instrument and the Note are not <br /> determined to be eligible for insurance under the National Housing Act within 60 days from the date <br /> hereof, Lender may,at its option,require immediate payment in full of all sums secured by this <br /> Security Instrument.A written statement of any authorized agent of the Secretary dated subsequent <br /> to 60 days from the date hereof,declining to insure this Security Instrument and the Note, shall be <br /> deemed conclusive proof of such ineligibility.Notwithstanding the foregoing,this option may not be <br /> 3213219551703 1118645871 <br /> FHA Deed of Trust-NE Revised 4/96 <br /> VMP® 04/11 <br /> Wolters Kluwer Financial Services 201304254.0.0.0.4002-J20110929Y Initials: Page 5 of 10 <br /> "4 )1 -1^ <br />
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