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201406861
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201406861
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Last modified
7/20/2017 9:22:18 PM
Creation date
10/29/2014 2:22:52 PM
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DEEDS
Inst Number
201406861
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� <br /> ��14��5�1 <br /> maximum periad under whieh loan ad�anc�s retain the same lien priority initially granted to <br /> loan ad�ances has expired}and state law permits the original lien status to be maintained far <br /> future loan ad�ances thr�ugh th�execution and recordation af one ar mor�documents,�hen <br /> Lender shall obtain t�tl�e�idence at Bvrrower's expens��. 1f the title e�idence indicates that <br /> the prop�rty is not encumbered by any liens(except this Security Instrument,the Second <br /> Security �nstrument described�n Paragraph 14(a}and any subordinate �iens that�he Lender <br /> determines wi�l also be subordinate�o any future loan��d�anees�, Lend�r sha�l request the <br /> Borro�ver�o execute any documents necessary tn prote��t the lien sta�us of futur�loan <br /> ad�ances. Borrower agr�es t�execute such d�cumen�s. If state law does not permit the <br /> original li�n status to be extended to future loan ad�ant:es, B�rrovver will be deemed to ha�e <br /> failed to ha��performed an obligation under this S�cu���ty �nstrument. <br /> (b}Tax Deferra�Programs. <br /> Borrawer shali not participa�e in a real estate tax defer�•al program, if any 1�ens created by the <br /> tax deferral are not su�ordinate to�his Security �nstrurrient. <br /> (c}Prior Liens. <br /> Borrower shall promptly discharge any lien which has priority o�er this Securi�y Instrument <br /> unless Borrower; �a}agrees in writing to the paymen�c�f the abligation secured by the lien in <br /> a manner acceptable to Lender; �b}cantests i n good fa�ith the 1 i en by, or defends against <br /> enforcemen�of the li�n in, legal proce�dings which in the Lender's op�nion operate�fl pre�ent <br /> the enf�rcem�nt of the lien ar forfeiture of any part of the Pr�per�y;or�c}secures fram the <br /> h�lder of the Iien an agreement satisfactory to Lender:�ubordinating the lien to all arnounts <br /> secured by this Security Instrum�nt. If Lender determi��es that any part of the Property is <br /> subject to a lien wh�ch may attain priority ouer�his Se��uri�y Instrument, Lender may gi�e <br /> B�rrawer a notice identifying the lien. Borrower shall satisfy th�l�en or take one or more of <br /> the act�ons set fvrth abo�e within 1 D days af the�i�in�;�f notice. <br /> 14. Relationship to Se�ond Security Instrument. <br /> (a} Second Security Instrument. In order t�seCure paymen�:s vvhich the Secretary may make ta or <br /> op behaif�f Barrovver pursuant to Section 255(i}(1}�A}of tht�Nati�nal Housing Ac�and the Loan <br /> Agreement,the S�cretary has required Borrow�r to execute a Second Note and a 5econd S�curity <br /> Instrument on the Prop�r�y. <br /> �b}Relationship of First and Second Security Instruments. Payments made by the Secr�tary <br /> shall not he included in the debt und�r the Nate unl�ss: <br /> �i}rTh�s Secur�ty Instrument is assigned to the 5ecretary; or <br /> �ii}The Secretary a�cepts reimbursement by the Lend��r for all payments made by the <br /> Secretary. <br /> If the circumstances described in�i}or�ii}�ccur,then all paym�nts by the Secretary, <br /> including inter�st on the payments, but excluding late charges paid by the Secretary, shall be <br /> included in the debt under the Note. <br /> {�}Effect on Borrower. �Vhere there is no assi�nment or re�:mbursement as described in{b}(i}or <br /> Page 7 of 13 HECM First Deed�f Trust-2�14 <br />
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