201404110 - Laserfiche WebLink

Browse

��14�411� Security Instrument.A writt�n stat�rnent of any authori2ed agent of the Secreta.ry dated subsequent to ��days fram the date h�reof,declining�o insur�th�s Secur�ty Instrument and the Note, shall be deemed conclusive proof of such inel�g�bil�ty.No�vi�hstanding the foregoing,this option may not b� exercised by L�nder when the una�aitability of iasuranee is solely due to Lender's failure to remit a mortgage insurance premium to the Secretary. 1�. Reinstatem�nt.Borrower has a right to b�reinstated if Lender has required �mmediate payment in fu11 because of Borro�ver's failure to pay an amoun�due under th�Note or this Security Instrument. This right applies even after foreclosure proceedings are�nstituted. To reinsta�e the Security Instrument,Borrower shall tender in a lump sum a11 am�unts required to bring Borro�er's account current including,ta the e�tent they are obligations af Borrower un�er��.i�Security Instrument,for�closure costs and reasonable and customary attorneys'fees and expenses properly associated with the f�reclosure proceed�ng. Upan reins�atement by B�rrawer,this Security Instrument and the obligations that�t�ecures shall remain in effect as if Lender had not required immediate payment in full. Hawever,Lender is not required to permit reinstate�nent if: (i� Lender has accepted reins�a.tement af�er the commencement of forectflsure proceedings within t�vo years immediately preceding the commencement af a current forec��sure�roceeding,�ii}reinstatement wi11 preclude f�reclosure on different grounds in the futureA ar(iii}reinstatement w�l�ad�ersely affect the priority of the lien crea�ed by this Security Instrument. 1'l. B�rrawer hlvt Released;Forbearanc�F3y Lend�rNot a Vllaiver. Extension.of the time of paym�nt or modifica�ion of amortization of the sums secur�d by this Se�urity Instrument g�ranted by Len.der to any successor in interest af Borro�ver sha11 not Qperate to release the liability of t�e origina�B�rro�rer or Bono�ver's successor�n interest. Lender shall not be requiured to commence proceedi�.gs against any succe�sor in interest or refuse to e�tend time for payment or otherwise modify amortiza�ion of the sums secured by�h�s Security Instrument by reason of any demand made by the original Borr�t�ver or�orrower's successors rn int�rest.Any forbearance by Lender�n exercising any right or remedy shat�not be a waiver of or preclude�he exercise o�'any right or remedy. 12. Suc�essorsan�Assigns8oun�;Jo�nt and Several Liability;�o-Signers.Th�covenants anc� agre�ments of th�s Security Instrumen�sha��bind and benefit the successors and assigns af Lend�r and Borra�er,subject to the provisions of paragraph 9(b�. Barrower's covenants and agreements sha11 be jo�nt and several.Any Borrawer who co-signs thi�Security Instrument but does not execute the Nate: (a}is co-signing thi�Security Ir�strumen�on�y to mortgage,grant and convey that B�rrower's interest in the Property under the terms af this 5ecurity Ins�rument; (b�is not per�onally obligated to pay the sums secured by this Security Instrumen�;an��c�agrees tha�Lender aad any�ther Borrower may agree ta extend,modify, forbear or make any accommot�at�ons with regard to the terrns of�his Securit�Instrument or the Note �vithout that Bonower's consent. 'I3. Notiees.Any notice�o Borrow�r pr�vided far in this S�curity Instrum�nt shall be given by delivering it or by mailing it by first c�ass ma�t un�ess applicabte law requ�res�tse of another method. The notice sha11 be directed to the Prapeity Addr�ss or any other address Borro�ver designates by notice t�Lender. Any notice to Lender sha11 be gi�en.by first c�ass mail to Le�der's address stated herein or an�addres�Lender designates by notice ta Borro�er.Any notice pro�ided for in this Security Ins�rumen�t sha11�e deemed to have been given to Borro�ver or Lender when gi�en as pro�ided in this�aragraph. 'I 4. Go►��rn ing Law; S�rrerabi I ity.This Security Instrument s�.ail be go�erned by Federallaw and the law af the jurisc��ction in vvhich the Property is 1o�ated.In the event,that any prov�sion or c�ause af t�i�Security Instrument or the Note conflicts with applicable law, �uch c�nflict sha1�not affe�t other pro�is�vns of this Secur�ty Instrument or the Note which can be given.effe�t without the confl�cting pro�xsion. To this e�nd�he provision�af this Security Instrument and the Note are declared to be severable. FHA Morkgage WITH MERS-NE Re�ised 4196 V�IAP @ VMP4N�NE}(1302j.�4 lfdo'�ers Kluwer Financial Servic�s Page�ot 10 q�33z332�013 �233 442 �61� �