201505001 - Laserfiche WebLink

Browse

��15�5DU1 a. Such Eligible Non-gorrowing Sp�use r�mained fhs spause af the id�n�i�ied Borr�wer�or the duration vf such Borrower's iifetime; b. Such Eii�ibCe Non-Barrawing 5pause has occupied, and�continues �o vccupy, the Property as hEs�r her Principal Residence; c. Such E�igible N�n-Borrawing Spouse has es�a�lished iegal ovtirnership �r ofiher ong��ng legal r�ght t❑remain in��e Prvpe�ty; d. AI� �ther obliga�ions of the Borrow�r under the Second Note, the Loan Agreernent and�his 5ecuri�y lnst�ument con�inue�o be satisfed; and � e. The Sec�nd Nate is nat��igible to be called due and payable for any ather reason. This sub-paragraph tii} is inappi�cable ar nuli and �o�d if an Eiigibie Non--Borrowing Spouse is or becom�s an Ineligibie Nan-gorrowing Spouse at any t�me. Further, during a deferral o��he due and payable status, should any af these cnndi�ians �or de�erra� c�ase �o be met such a de�erral shall immed�ately ceas� and the Secand Note w�ll become irnmedia�ely due and payable in accordance w�th the provisions of Paragraph?�a}[i}of the Secvnd Nate. �b} ❑ue and Payable—Sale, Lender may require�mmediate�aymen�in full of all sums secured by�his 5ecuri�y lnstrumen� i�al� a�a Borrower's title in �he Proper�y �o` his or her beneficial in�eres� in a �rus� ovvning al! vr part af the Pr�perty} is soid or otherwise�rans�er�-ed and n� ofiher Borrawer re�ains�ifiie to the Praperty in fee simple o�retains a ieasehvld under a lease f�r na� less than 39 years which is renewable ar a lease ha�ing a rema�n�ng periad of no� less than 5�years �eyond the da�e of�he ��fh birthday o�the younges�Borrov�rer❑r re�a�ns a I�fe es�afie �or retatning a benefic�a� �nteres�in a trust with su�h an inferes#in the Praperty}. A deferra! of due and payable s�atus is not permitted when a L�nd�r r�quires immedia�� payment in fu1�under this Paragraph. �c� Due and Payab[e wi�h Se�retary ApprQ�al. Lender may require immediate payment in�ull of a11 sums secured by this SeCurifi�lnstrument, upon app�oWal af the Se�refary��: �i} The Proper�y ceases�v�e�he Pr�ncipai Residence of a Borrower for reasvns o�her�han death and�he Proper�y is nat the Principal Res�der�ce of a�least vne o�h�r Borr�wer;or �ii} For a �erEod of�onger�han�welWe �'12} �flnsecuti�e months, a Bflrraw�r fails ta occupy �he Proper�y be�ause o�physical ❑r m�nta� illness and �he Property is not the Prin��pal Res�dence of at feast one o�her Borrower; or �iii} An ob�igativn v�f�he Borrawe�und�r fhis Security ins�rumenfi is not per�ormed. A def�rrai of due and payable sta�us is not permitted when a Lende�-requires irn rnedia'�e payment in full under Paragraph 'I��}. �d} No�ice and Cer-�ificat�on t� Lender. Borrower shall camplete and pro�ide fio �he Lender �n an annua� basis a certifica�ion, in a �orm pr�scrib�d by the Lender, sta��ng wh�ther �he � � 7540GEN303N Accenture MvrEgage Cadence�ocurnent Cen#er� �5 of 13} Nebraska 5econd Dee�of Trust-HECM AOJUSTABLE RATE a�79 03115