201701289 - Laserfiche WebLink

Browse

2� 17� 1289 In the event of a partial tal�ing,des�ructi�n,or loss in value of�he Property ia wh�ch the fair market � value of the Pr�per�y immediately before the partial taking,destructian.,or lass in value is tess than the amount�f the sums secur�d immediately�efar�the partial taking,destr��tion,or loss in value,unless Borrotiver and Lender otherw�se agree in wr�tin�,the Miscellaneous Praceeds sha1�be appl�ed to the sums secured by this Secu.rity Instrument whether or nat�h�sum�are th�n due. �f the Pr�perty is aba�doned by Borrawer,or if,after notice b�Lend�r to Boxrower t�at the�ppasing Farty[as defin�d�n the next sentence)offers to make an award to settle a clairr�for damages,�orrower fails ta re�pond to L�nder�vithin 30 days a�er�he date the notrce is gi�re�,Lender��authorized to call�ct and apply th�Miscellan�ous Pro�eeds either to restoration ar repair of the Property or ta the sums secured by this Security Instrument,whether ar not then due. "�ppa�ing Parry" mean�the third party that awes B�rro�rer ll�isceltaneaus Praceeds ar the pa�ty against whvm Borrower has a right of acti�n in regard ta Misc�llaneous Praceeds. F3�rra�ver shall�e�n default if an�a�t�on ar pro��eding,wh�th�r�i�il ar criminal, is begun that,in Lender's judgment,could result in forfeiture af the Proper�y ar ot}�er material irnpairment of Lender's interest in the Propert�or righ�s under this S�curit�y�nstrument.Borrovv�r caa cure such a default and, if acceleration has occurred,reinsta�e as pro�ided in Section 18,by causing the actian or proceeding�o be dismissed with a ruiing that,in Lender's judgment,prec�udes forfeiture of the Pr�pert�ar�ther mater�al impairment of�ender's�nterest in the Praperty or rrghts under this Se�urity�nstru.ment. Th�praceeds af any award ar claim for dama��s that ar�attri�utab�e��the��pairrne�t o f Le�der'�i�terest in the Prop�rty are hereby a�sign�d and sha�l l�e paid to Lender. All Mis�ellaneaus Proceeds that are not applied to restorati�n or repair of th�Property sha11 be applied in t�ie or�er pr�vided for in Section 2. 'l'I. Borra►nrer Nvt �te�eas�d;�orlaearan�eBy LenderNot a Vllaiver. Extension of the time for p�yment or mo�i�'�cati�n of amort�zation of�he sums secured by this Security Instrument g�ant�d by Lender to Borrower or any 5uc�essor in In�erest of Borrower sha�l not operate�o release the liability of Barro�ver ar any Succe�sors in Interest of Borrower.Lender shall not be required to commence praceedings aga�nst any Succe�sor�n�nteres��f Borrow�r ar t�rt�f�ts�ta ext�n�tit�ne for p�.yme�t or othe�wise madify am�rtization of the sums seGured by this Se�urity�nstrument by reason of any demand made by th� ariginal BQrrotiver or any 5uccessor�in�nterest of Borrower.Any forbearanc�by Lend�r in exercising any ri�ht Qr remedy including,�auithout l�mi�tion,Lender`s acceptan�e of payments from th�.rd persons, entities or Suc�essors in Interest of Bonflwer or in amounts�ess than the amaunt the�due,shall not be a vwai�er of or prec�ude the�xercis�of any right or remedy. �Z. Ja�n�and S�r�eral Liab�lity;Co-signer�;Suc��s�orsa�nd AssignsBound.Borrower co��nants at�d agrees that Borrower's�bligations and liability shall b�joiat and several.However,any Barrower who co-signs this�e�urity Instxument�ut do�s n�t�xecut�the I�ote�a"Co-signer"}: (a}is co�signir�g this 5ecurity In�trument an�y to martga�e,g�ant and convey the co-signer`s interest in the Froperty under the terms of this Security Ins#rument; (b}is not persanally abligated to pay the sums secured by this 5ecurity Instrument;and(e)agre�s that Lender and any other Borrower�an agree to extend,modify, farbear or make any accQmmodatians vvith regard to th�t�rms of this S��urity I�sta�un��nt�r��NQte without th� co-signer's con.sent, FHA Deed of Trust With MERS-NE ��41� �ank�rs Systems�+ VMP� VMP4N[NE}(154fi].�� Wo�ters Kluwer Financial Senrices Pa��14 af 1 T q 3 533 2 3 79 141