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201402008
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Last modified
7/20/2017 10:48:54 AM
Creation date
4/8/2014 10:11:44 AM
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DEEDS
Inst Number
201402008
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��14����5 <br /> [c�Prior Liens. <br /> Borrower shall promptly discharge any lien which has priari�y o�er�his Security Instrum�n� <br /> un�ess Borrower: [a}agrees in writ�ng t�the payment of the o�liga�ion secured by�he l�en in a <br /> manner ac�e�tab���o Lender;�b}con�ests�n gaad faith the��en by, or defends aga�nst <br /> enfarcement�f�he lien in, �ega�pr��eed�ngs which in�he Lender's ap�nion opera�e�o pre�ent <br /> �he enf�rcement af the l�en or farfeiture of any par�of the Proper�y; ar(c} s�cures from�he <br /> halder of the Xien an agreemen�sa��sfactor��o Lender subordinat�ng the lien ta all amoun�s <br /> secured by this Secur�ty Zns�rument. �f Lender determznes�hat any par�of�he Property is <br /> subj ect tfl a li�n which ma�at�a�n pr�or�ty over this Secur�t�rnstrument,L�nder may g�ve <br /> BorrQwer a no��ce iden�ify�ng the l�en. Borrower sha1� satisf��he lzen or�ake ane ar more�f <br /> the actions set forth above with�n �D days of the g��ing�f no�ice. <br /> 13.Relatianship to F�rst Se�urity Instrument. <br /> ta) Second Secur�ty Instrum�nt. In�rder�o secure payments wh�ch the Secretary may make t�or <br /> an behalf of Borrower pursuan��0 5ec�ion 255�i}��}�A� of�he National Housing Ac�and�he Laan <br /> Agreement,the Secretary has requ�red Barrower�o execu�e a Se��nd Na�e and thzs S�cond <br /> Securit�r Instrument. Borrower also has execu�ed a Fxrst N��e and F�rst Security�nstrument. <br /> �b)Re�ativnship of F�rst and Second Secur�ty Instruments.Payments made by the 5ecretary <br /> sha�l no�be inc�uded in the debt u�.der the First No�e unless: � <br /> (i}The F�rst Secur�ty I�.strument is ass�gned�o the Secretary; or <br /> �ii�The Se�retar�accepts r�imbursement by the holder of the First Not�for a��paymen�s made <br /> by the S e�re�ary. <br /> �f the�ircumstanc�s described in��}or(ii}occur,then a�l payments by the Secretary, �nc�uding <br /> in�eres�on the�ayments but excluding late�harg�s paid by�he Secretary, shal�be included in <br /> the de�t under the First Note. <br /> [c�Effect on Barrower. �Vhere there�s no assignmen�ar r�imbursement as descri�ed�n�b}(i]or <br /> (��}and the Secretary makes paymen�s�o Borrower,then Borrower sha��not: <br /> ���Be required�a pay amoun�s owed under the Firs�Note,or pay any ren�s and revenues of�he <br /> Property under Paragraph �9 ta the ha�der of the Firs�Na�e or a rece�ver af th�e Pr�perty,unti� <br /> �he Secre�ary has requ�red payment-in�ful�of aIl outstanding principal and accrued interest <br /> under�the Second No�e; or <br /> �ii)Be ob�iga�ed to pay in�erest or shared ap�reciat�on under the Firs�No��at any time, <br /> vvhether accrued before or after the payments by the Secre�ary,and whe�her or no�accrued <br /> �nterest has been�n�luded in the pr�ncxpal balance under the F�r�t Note. <br /> �d}No I3uty of the Secretary. The S�cretary has na duty to the ho�der af the F�rst N�te t�enforce <br /> co�enan�s of the Second Secur�ty�ns�rument or ta take act�ons to preserve the�a�ue of the <br /> Property,even though the holder of the First Nate may be unab�e to collect am.aun�s avved under <br /> the Firs�Note beeause of restrict�ons i�th�s Paragraph 13. <br /> Page 6 of�I HECM 5econd Deed�f Trust <br />
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