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201603475
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Last modified
7/24/2017 2:03:15 PM
Creation date
6/6/2016 9:08:48 AM
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DEEDS
Inst Number
201603475
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2� 1 ��3475 <br /> 5�curzty Ins�rum�nt.Borrow�r alsa has e�ecu�ed a First Nate and F�rsf Security Instrumen�. <br /> �b�Re�at�onship of F�rs�and S�cond S�curi#y Yns�rumeu�s.Paym�n�s made b��he�e�reta�-}� <br /> shall no�be in�ludec�in�he debt ur�d�r the First Nat�unl�ss: <br /> �i)The F��s�Security Instrument�s ass�gned to the Secretary;t�r <br /> (ii�The Secre�ta�ry a��epts re�mburserr�ent by�he ho�d�r of the Firs�N��.e for ali paym�nts made <br /> by�h�5 e cre�ary. <br /> If the c�r�umstan�es de�cribed in�i�or�ii)o�cur,th�n ali pa�me�.ts by the Secretary, �ncludin� <br /> int�r�st an�he payment�bu�.e�c�ud�ng la��charges paid by�he Secr��ar�,shali be included in <br /> t�.e d��t under the First No��. <br /> �c}Effect on Borr�wer, Wh�r��here is no assignmen�t or r�imbursemen�t as d�sc�rib�d in�b)�i}or <br /> �ii�and�he Se�re�ar��makes payment�to Borr�r�ver,then�orraw�r s��a�l not: <br /> �i�Be��quired to pay amounts owed under the First Note,oc pay an�r rents and re�enu��of the <br /> Prope��ty under Paragraph 2�-to the h�lder Qf the First No�e or a rece�v�r of the Property, un�il <br /> the S�cretary has re�u�red pa�ment-in--full of a�I�utstand��b pr�ncipa�and accru�d�nterest <br /> under the Se�flnd Nate;or <br /> �ii}Be oblzgat�d ta pay inter��t�r shared appreciation under�he F�rs�Note a�any time, <br /> wh��her aC�ru�d b�fore�r afte��h��aym�n�s by�h�S�cretary,and vvhe�her or not ac�ru�d <br /> in�erest has�b�en included in the Principal BaXance under�he F�rs�.No�e. <br /> {d}No Duty�f�he Secre�ary. The Secre�ary has n�duty�o the h��der of the F�r�t N��e to��foree <br /> �o�enan�s Qf the S�cond Se�uri���nstrumen�ar to ta�Ce ac�ions ta preserve�h�value of the <br /> Property,e��n�hough the halder of xhe F�rs�t Nate may be unabie t�ca�iec�t amounts owed under <br /> �h�F�rst Nate�ecaus��f rest�rx��i4ns xn this Para�raph �S. <br /> 16.Restric�ions vn Enfarcement.No�vviths�.andin�an}��hing else�n�his Se�urit��n.s�rum�nt,th� <br /> �orrower shail no�be obiiga�ed�a comp�y��°ith the cov�riants hereof, and Paragraph 24 shai�hav�no <br /> fQrc�and effect,when�ver there��n�ou��tand�n�balance under the Second Na�e. <br /> 17.Forbearance by Lender IV��t a VL�Tai�er. Any fo�rb�arance by Lender in e�er�ising any rrgh�or <br /> r�medy shal�not be a waiver of or pr�clude th�exercise of any ri�ht ar remedy. <br /> 1S.Successors and Assigns�aund;J�int and Se�eral Liabi�ity.Borro�er ma�no�ass�gn any rights <br /> or ob��gations under�his Se�uri�y Ins�rume��or�he Second No�e�ex�ept to a�rust that meets tl�e <br /> requir�men�s of the Sec�retary.Borrawer's co�e�ants and agxeemen�s sha�l be�o��.t and sev�ra�. <br /> 19.Noti�ces. Any no��ce to Borrow�r pravid��i for in this���uri�y�ns�rumenti sha�i be gxven by <br /> del�vering it or by mai�in��t by firs��lass mai�unless appli�abl�Iar�requzres use of an��her method. <br /> The n�tice shall be d�r�cted to the Pr�perty Address Qr any other address all Bflrrowers j�in��y designat�. <br /> Any n�tic�to L�nder shall be g�v�n by first class mail to Lend�r's address s�a�ed h�r�i�a or any address <br /> Lender designates by natice tQ Borrower. Any no�i�e to a Non-Barrowing Sp�us�pr�vided f�r in this <br /> Securi���n�trumen�sl�all b�given b�r delzvering��or by mail�n�if b�first��ass mait ur��ess appli�ab�e <br /> Iavv r�quires use of an�ther m�thad. The noti�e shali be directed to�he Proper�T Address. A.ny n�tZce <br /> pra��ded far�n�his Security�nstrument�ha11 be d��med to have been�,i�en��B�rrovver,Lender,or <br /> Page$of 13 HECI��Secv�d Beed Df Tr�ast�--2015 <br />
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