Laserfiche WebLink
200101399 <br />6. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security <br />Instrument. <br />NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: <br />7. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following <br />Borrower's breach of any covenant or agreement in this Security Instrument. The notice shall <br />specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days <br />from the date the notice is given to Borrower, by which the default must be cured; and (d) that <br />failure to cure the default on or before the date specified in the notice may result in acceleration of <br />the sums secured by this Security Instrument and sale of the Property. The notice shall further <br />inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure <br />proceeding the non- existence of a default or any other defense of Borrower to acceleration and <br />foreclosure. If the default is not cured on or before the date specified in the notice, Lender, at its <br />option, may require immediate payment in full of all sums secured by this Security Instrument <br />without further demand and may invoke the power of sale and any other remedies permitted by <br />applicable law. Lender shall be entitled to collect all expenses incurred in pursing the remedies <br />provided in this paragraph, including, but not limited to, reasonable attorneys' fees and costs of title <br />evidence. <br />If the Lender's interest in this Security Instrument is held by the Secretary and the Secretary <br />requires immediate payment in full under Paragraph 7 of the Subordinate Note, the Secretary may <br />invoke the non - judicial power of sale provided in the Single Family Mortgage Foreclosure Act of <br />1994 ( "Act ") (12 U.S.C. 3751 et seq.) by requesting a foreclosure commissioner designated under the <br />Act to commence foreclosure and sell the Property as provided in the Act. Nothing in the preceding <br />sentence shall deprive the Secretary of any rights otherwise available to a Lender under this <br />paragraph or applicable law. <br />8. Release. Upon payment of all sums secured by this Security Instrument, Lender or Trustee shall <br />release this Security Instrument without charge to Borrower and mark the Note "paid" and return the Note <br />to Borrower. Borrower shall pay any recordation costs. <br />9. Substitute Trustee. Lender, at its option, may from time to time remove Trustee and appoint a <br />successor trustee to any Trustee appointed hereunder by an instrument recorded in the county which this <br />Security Instrument is recorded. Without conveyance of the Property, the successor trustee shall succeed to <br />all the title, power and duties conferred upon Trustee herein and by applicable law. <br />10. Possession of the Property. Borrower shall have possession of the Property until Lender has <br />given Borrower notice of default pursuant to paragraph 18 of this Security Instrument. <br />