|
3. If all or any part of the Property or any interest in the Property is sold or transferred (or if Borrower is not a
<br />natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written
<br />consent, Lender may require immediate payment in frill of all sums secured by the Security Instrument
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall
<br />provide a period of not less than 30 days from the date the notice is delivered or mailed within which
<br />Borrower must pay all sums secured by the Security Instrument. If Borrower fails to pay these sums prior
<br />to the expiration of this period, Lender may invoke any remedies permitted by the Security Instrument
<br />without further notice or demand on Borrower.
<br />4. Borrower also will comply with all other covenants, agreements, and requirements of the Security
<br />Instrument, including without limitation, Borrower's covenants and agreements to make all payments of
<br />taxes, insurance premiums, assessments, escrow items, impounds, and all other payments that Borrower is
<br />obligated to make under the Security Instrument; however, the following terms and provisions are forever
<br />canceled, null and void, as of the date specified in paragraph No. 1 above:
<br />(a)
<br />(b)
<br />5. Borrower understands and agrees that
<br />(a) All the rights and remedies, stipulations, and conditions contained in the Security Instrument
<br />relating to default in the making of payments under the Security Instrument shall also apply to
<br />default in the making of the modified payments hereunder.
<br />(b) All covenants, agreements, stipulations, and conditions in the Note and Security Instrument shall
<br />be and remain in full force and effect, except as herein modified, and none of the Borrower's
<br />obligations or liabilities under the Note and Security Instrument shall be diminished or released by
<br />any provisions hereof, nor shall this Agreement in any way impair, diminish, or affect any of
<br />Lender's rights under or remedies on the Note and Security Instrument, whether such rights or
<br />remedies arise thereunder or by operation of law. Also, all rights of recourse to which Lender is
<br />presently entitled against any property or any other persons in any way obligated for, or liable on,
<br />the Note and Security Instrument are expressly reserved by Lender.
<br />Nothing in this Agreement shall be understood or construed to be a satisfaction or release in whole
<br />or in part of the Note and Security Instrument.
<br />(d) All costs and expenses incurred by Lender in connection with this Agreement, including recording
<br />fees, title examination, and attorney's fees, shall be paid by the Borrower and shall be secured by
<br />the Security Instrument, unless stipulated otherwise by Lender.
<br />(c)
<br />(e) Borrower agrees to make and execute such other documents or papers as may be necessary or
<br />required to effectuate the terms and conditions of this Agreement which, if approved and accepted
<br />by Lender, shall bind and inure to the heirs, executors, administrators, and assigns of the
<br />Borrower.
<br />(f)
<br />201701761
<br />all terms and provisions of the Note and Security Instrument (if any) providing for, implementing,
<br />or relating to, any change or adjustment in the rate of interest payable under the Note; and
<br />all terms and provisions of any adjustable rate rider, or other instrument or document that is
<br />affixed to, wholly or partially incorporated into, or is part of, the Note or Security Instrument and
<br />that contains any such terms and provisions as those referred to in (a) above.
<br />Borrower authorizes Lender, and Lender's successors and assigns, to share Borrower information
<br />including, but not limited to (i) name, address, and telephone number, (ii) Social Security Number,
<br />(iii) credit score, (iv) income, (v) payment history, (vi) account balances and activity, including
<br />information about any modification or foreclosure relief programs, with Third Parties that can
<br />assist Lender and Borrower in obtaining a foreclosure prevention alternative, or otherwise provide
<br />LOAN MODIFICATION AGREEMENT —Single Famay— Fannie Mae UNIFORM INSTRUMENT Forty 3179 IJUI (rev. 404) (page 2 op)
<br />
|