201402438 - Laserfiche WebLink

Browse

��14��435 Security Instrument.A written statement of aay authorized ag�nt of the Secretary da�ed subse�uent to 6U days from the date her�af,decliniag to insure this Security�nstrurnent and the Note, sha11 be deerned eonclu�i�e praof af such ineligibility.Notwith�tanding the foregoing,this optian may not be �xercised by Lender when the unavai�abili#y of insurance is soiely due to L�nder's failure to remit a martgage insurance premium ta the Secreta.ry. 1 d. R�instatement.Borrower has a right to be r�instat�d if Lend�r has r�qui.red immediate payment in full because of Borrower's faiiure to pay an amount due under th�Note or this 5ecurity Instrument.This right appiies even after foreclosure proceedings are�ns�ituted. To reinstate the Security Instrument,Barro�ver sha�l �ender in a�ump sum all amounts required t�bring Borrower's ac�ount current includiag,to the extent they are ob�igations of Borrower under this Security Instrument, fareclosure costs and r�asanabl�and customary attomeys'fees and�xpenses properly associated vvith the foreclasur�proceeding. Upan reinstatement by Borrower,this 5ecurity Instrurnent and�h�obligatians that it secures shall remain in effeet as if Lender had not required immediate payment in full. How�ver,Lender is not required to permit reinstatement if: (i} Leader has accepted reinsta.tement after th�commencement of for�closure proceed�ngs within two years immed�ately preceding the commencement of a current foreclosure proceeding,(ii�reinstatement will pre�lude foreclosur�an different grounds in the fut�ue,or(iii�reinstatement wi11 ad�ersely affect the priority of the lien cr�ated by this 5ecurity Instrument, 11. Borrovrrer Nvt Released;FvrbearanceBy LenderNa#a 1Nai�er.Extension of the time of pa�ment or modification of amortization of the sums secured by this SeGurity Instrument gran�ed by Lender to any successar in interest of Borrower sha1�not operate to release the liabili�y of the original Borrower or �orrawer's successor in interest. Lender shall not be required to commence proceedings agaYn�t any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Secu.rity Instrument by reason of any demand made by the origina�Borrower or BQrrower's successors in interest.Any forbearar�ce by Lend�r in exercisin�any ri�ht or remedy shall not be a�vai�er of or preclude the exercise of any right or remedy, 1�. Su�cessorsand A�signsBvund;Joint and 5e�eral Liability;Co-Signers.The covenants and agreements of this Security Instrument s�iall bind and b�nefit the successors and a�signs of Lender and Borrawer, subject to the pro�isions of paragraph 9(b}.�orrower's covenants and agreement�shall be joint and several,Any Borro�ver�ho co-signs this Security Instrument but does nflt execute the Note: (a}is co-signing this S�curity Instrument only to mortga�e,grant and Gan��y that Borrower's interest in the Prop�r�y under the terms of thi�Security Instrument;[b}is not personally ob�igat�d�o pay the sums secured by this Security Ins�rument;and�c}agr�es that Lender and any other Borrower may agree ta extend,modify, forbear ar make any accommodations with regard to the terms of this�ecurity Instrument or the 1wTote without that Borrawer's consent. 'I 3. Nvt�ces.Any notice to Borrower provided for in this Security Zns�rument sha11 be given by deli�ering it or by mailing it by fust class mail unless applicable la�requires use af another method. The notic�shall be directed to the Proper�y Address or any o�her address Borrower designates by notice to Lender. Any notiee to Lender shali he gi�en by firs�class mail to Lender's address stated herein or any a�dress Lender designates by notice to Borrower,Any notice provided for in this Security Instrument sha11 be deemed to have been gi�en to Borrower�r Lender when gi�en as pro�ided in this paragraph. 14. Cv�erningLaw; Se�erabi��ty.This Security Instrument shall be governed by Federal law and the law of the jurisdictian in which the Property is lacated. In th��ent that any pr�vision or�lause of this S�curity Instrument ar the Note conflicts�vi�h applicable 1aw,such conflict shall not affect other provisions of this Security Instrument or the Note which can be g�ven effect with�ut the conflicting provisian. To this end the pravisions of this Security Tnstrument and the Nate are deciared to�e se�erable. FHA Mortgage WITN MERS-NE Rev�sed 4198 VMP� VMP4N�NEj{1302).00 Walter�lCluwer Financial Se�vices q03 32 5��912 42 3 3 3 3� ��1D Page 6 of 9 0