201402874 - Laserfiche WebLink

Browse

��14��574 12.L►�en Status. �a}M�difcat�on. Barro�ver agrees to e�tend this Security I�strumen�in accordance w�th�his Paragraph 12�a}. If L�nder determ�nes�ha�th�or�g�nal �ien s�atus of the Securi�y �nstrument is jeopardized under state la�v�inciud�ng but no��mited to si�ua�ions where the amoun�secured by�he Security Instrument equals or e��e�ds th�maximum principal amount s�ated or the max�mum period under which loan ad�ances retain�he same Iien�rior�ty �nit�ally gran�ed to l�an advanc�s has exp�r�d�and s�a�e la�v perm��s the orig�nal ��en status�o b�main�ained f�r future loan advances through�he execu�i�n and recordation of one or more docum�nts,�hen Lender sha�� obtairi title evidence at Borrower's expense. If the t�t�e evidence indicates that the prop�r�y i s no�encumb�red by any 1��n s�except th�s S�curity�nstrume�t,�h�Secon d S�curity Instrument d�scribed in Paragrap� 13�a}and any subord�r�ate l�ens that the Lender de�ermines vv�ll a�so be su�ordinate to any future loan advances), Lender shall reyuest the B�rr�wer to execu�e any documen�s necessary to protect�he lien status of fu�ure loan advances. Borrawer agrees to execu��such documents. If sta�e law does not permit the origina� ��en s�atus to b�extended ta future�oan advances,Borrower�v�1� be deemed to have failed�o have�erformed an ob�igation under this Security �ns�rument. �l�)Tax I]eferral Programs. Borrovver shall no�participate in a reai estate ta.x deferra� program, if any liens cr�ated�y�he ta�d�ferral are not subordinat�ta this Secur��ty Instrumen�. (c}Pr�or L�ens. Borrovver sha��promp�l� d�s�harge any�ien which has pri�r�ty o�er this Secur�ty Instrum�nt unless B�rrov�er: �a�agrees in writing to�h��a}�ment of�he obliga�ion secure�t by the�ien in a manner acceptab�e�o Lender; �b�cantests in good faith the l�en by, �r def�nds agains� er�for�ement of the�ien in, lega� prQce�ding;s which in the Lend�r's opin�an operate�� prevent the enforc�men�of the lien or farfe�ture of any part af the Proper�y; or�c� se�ures from the ho�der of the lien an agreemen�satisfactQr�to Lender su��rdinat�ng�h��ien t�alI amounts secured by th�s Security�nstrument. �f Lend�r determines tha�any part of the Pr�per�y is sub�ec�ta a I�en wh�ch may attain prior��y nver this Securi�y Instrume��, Lender may give Borrovver a natice identify�ng the 1ien. Borro�er shail satisfy the lien ar take on�or more�f th�ac�ions set for�h above within 10 days of�he gzving af notice. 13. Relationship to Second Security Instrum�nt. �a} Second Security Instrument. In order to seGure payment��hich t�e Secretary may make�o or on beha�f of Barrov�er pursuan�to Secti�n 255�i}�l��A� of the Na�ional Housing Act and the Loan Agreement,�he Secretary has requ�red Borro�ver to execute a SecQnd Nate and a Second Secur�ty I nstrumen��n the Prapert�. [b}Re�at�vnsh�p of First an�l Second Security Instruments.Pa�men�s made b�the Secretary shall not be included i��he debt und�r the No�e un�ess: ��Th�s Security �nstrumen�is assigned ta the Secretary; or Page 5 of 1� HECM F�rst Deed QfTrust