Laserfiche WebLink
2� 1 ��3474 <br /> eample�ed and provzd�d to the Lender b�the Eligib�e Non-Borr�wing Spouse, Th�Borrov�er�hall <br /> also nfltif��Lend�r tivhene�ver any of the events lis�ed�n Paragraph 1��b)and�G}oc�ur. <br /> �e�No��ce��S�eretary and Borrawer. �..�ender shall na�if�r the Secr��ary and Barrower whenever <br /> �he lvan becomes due and payabl�und�r Para�raph ����a�and(��.Lender shall not hatiTe t���right <br /> �o camm�nce far�c�osure unti�Barrow�r has had thir�y�3�}days aft�r not�ce to either: <br /> �i}Gorrect the ma��er whi�h resu��ed in�he S�cur�ty In�trument�oming due and payab�e;or <br /> �i��Pay the balance�n fu�i;or <br /> �iiz�5e1�the Proper�for�he Iesser of the�a�ance or nine��-five(9�°I��of�he apprai�ed�aiue <br /> az�d ap�l�th�net proG�eds of�he sale�ov�ard the ba�an�e;or <br /> �iv�Pro�ide the Lender with a deed-in-l�eu�f fare�losure. <br /> �f)NoficQ��Secretary and Eligib�e Nnn-Borru��ing SpouSe. Lender sha�l natify the Secretar� <br /> and any Eligible Non-Borro«�ng Sp�use wl�.enever any�vent�isted in Pa�ag;rapll 1��b�and��� <br /> oc�urs durina a Deferra�Period. <br /> {b�Trus�s.�`onveyanc�of a Barro��er's interest in�he Pr�p�rty to a�rus��hich me��s the <br /> r�quzrements of�he Secre�ary,��conveyanc��f a tru5t's in�erests zn the Fr�p�r�y to a B�rrawer, <br /> �hall n�t be considered a��n�eyanc�for purposes�f this Para�raph x�.A.trust sha�l no�b�e <br /> �onsidered ax��ccupan�or be considered as having a Princ�pal Residence for purpo��s�f this <br /> Paragraph �4. <br /> �h�Martga�e Na�In�ured.Bort-ower agr�es�hat shouid�his S�curi�y rnstrumen�and�he N�t�not <br /> be e���ib1e for insuran�e und�r the Na�ianal Hous�ng Act vvith�n eight�8�months f`ram the date <br /> hereof,if perm����d by applicabie law Lender may,at its ap�ion,require immedia�e paymer��-in-fu�i <br /> of all sums secured by this Secur�t�Instrument.A writ�en statemen��f any au�laorized agen��f�he <br /> Secre�ar�da�ed subsequen��o ei�ht�8�mon�hs from the da�e hereaf,declining�o insure this <br /> Securi�y Instrum�n�and�he No�e,shal�be c�eern�d can��us�ve�r4of of su�h ineli��b�l�ty. <br /> No�withstanding the foregoina,this op�.ion ma�not be e�erCised b�Lend�r wh�n th�un�vailabii��y <br /> of in�urance is so�el�due�a L�nd�r's failur��o r�mi�a mortgage insurance premium to the <br /> S�cretary. <br /> 11. No D�ficien�y Judgments.Borr�v�er shall ha�e x��p�rsonal�iability far paymen�.of the d�b� <br /> secured by this Secur��y Instrurnen�t. Lend�r may enforce the c�e��on1�through sa�e af til�.e Proper�y. <br /> Lender shall not be permit�ed�o obtain a deficien��judgmen�agains�Bo�rower if the 5ecuri�y <br /> Zns�rument is for�clased. �f�his Security�ns�rumen�is assign�d ta�he Se�re�ary upo�demand b�the <br /> S��r��ary,B�rraw�r shall not be liabl�for any d�fference bet�een th�mo��gag�insurar�ce b�nef ts pazd <br /> to Lender and the outs�andzng indeb�edness,�nclud�n�accru�d in��rest,o�ed b�Borrovv�r a�tih��im��f <br /> the assi�nmenti. <br /> l�.I�einstatement by Borrower. Borro��ver ha�a right to be reinstated if Lender has re�uired <br /> �mme�iat�paymen�in full. This r�ght applies�ven after forecl�sure pro�e�dings are xnstituted. To <br /> reins�a��th�s Security�nstrum�n�,�orrau�er shall correc�the condi�ioz�which resulted in�h�requirem�en� <br /> for i�x�.media�e�aaymen�in fu�l. Foreclosur�cos�s and reasonabl�and cus�oz-nary attorn�y's fe�s a.x�d <br /> �xpenses properl_y a.�sQ��a�ed with�he forecl�s�ure pro�eedin�shall�e added�to the Principa�Balance. <br /> Pa�e �vf�� HECM Fi��st Deed df Trusr-201� <br />