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201306710
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Last modified
8/19/2013 8:13:51 AM
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8/19/2013 8:13:49 AM
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DEEDS
Inst Number
201306710
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201306710 <br />4. Affixation. Borrower covenants and agrees: <br />(a) to affix the Manufactured Home to a permanent foundation on the Property; <br />(b) to comply with all Applicable Law regarding the affixation of the Manufactured Home <br />to the Property; <br />(c) upon Lender's request, to surrender the certificate of title to the Manufactured Home, if <br />surrender is permitted by Applicable Law, and to obtain the requisite governmental <br />approval and documentation necessary to classify the Manufactured Home as real <br />property under Applicable Law; <br />(d) that affixing the Manufactured Home to the Property does not violate any zoning laws or <br />other local requirements applicable to the Property; <br />(e) that the Manufactured Home will be, at all times and for all purposes, permanently affixed <br />to and part of the Property. <br />5. Charges; Liens. Section 4, Paragraph 1 of the Security Instrument is amended to add a new <br />third sentence to read: <br />Borrower shall promptly furnish to Lender all notices of amounts to be paid under this <br />paragraph and receipts evidencing the payments. <br />6. Property Insurance. Section 5, Paragraph 1 of the Security Instrument is amended to add a <br />new second sentence to read: <br />Whenever the Manufactured Home is transported on the highway, Borrower must <br />have trip insurance. <br />7. Notices. The second sentence of Section 15 of the Security Instrument is amended by <br />inserting the words "unless otherwise required by law" at the end. <br />8. AdditionalEventsof Default. Borrower will be in default under the Security Instrument: <br />(a) if any structure on the Property, including the Manufactured Home, shall be removed, <br />demolished, or substantially altered; <br />(b) if Borrower fails to comply with any requirement of Applicable Law (Lender, however, <br />may comply and add the expense to the principal balance Borrower owes to Lender); or <br />(c) if Borrower grants or permits any lien on the Property other than Lender's lien, or liens for <br />taxes and assessments that are not yet due and payable. <br />9. Notice of Default. If required by Applicable Law, before using a remedy, Lender will send <br />Borrower any notice required by law, and wait for any cure period that the law may require <br />for that remedy. <br />10. AdditionalRightsof Lenderin Event of Foreclosureand Sale. In addition to those rights <br />granted in the Note and Security Instrument, Lender shall have the following rights in the <br />event Lender commences proceedings for the foreclosure and sale of the Property. <br />(a) At Lender's option, to the extent permitted by Applicable Law, Lender may elect to treat <br />the Manufactured Home as personal property ( "Personal Property Collateral "). Lender <br />may repossess peacefully from the place where the Personal Property Collateral is located <br />without Borrower's permission. Lender also may require Borrower to make the Personal <br />Property Collateral available to Lender at a place Lender designates that is reasonably <br />convenient to Lender and Borrower. At Lender's option, to the extent permitted by <br />Applicable Law, Lender may detach and remove Personal Property Collateral from the <br />Property, or Lender may take possession of it and leave it on the Property. Borrower <br />agrees to cooperate with Lender if Lender exercises these rights. <br />(b) After Lender repossesses, Lender may sell the Personal Property Collateral and apply the <br />sale proceeds to Lender's reasonable repossession, repair, storage, and sale expenses, <br />and then toward any other amounts Borrower owes under the Loan Documents. <br />Page 2 Initial: <br />NMFL # 7109 (MAHR) Rev 2/4/2008 <br />
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