201702081 - Laserfiche WebLink

Browse

2� 17�2�81 protect and preser�e such�acant or abandoned Property wi#hout natice to the�orrow�r, 7. Go�demnation. The proceeds of any award ar c�aim for d�mages, direct or+consequential, in cor�ne�tian with any condemnation, or ather taking of any part of�he Property,ar far con��yanc�in p�ace of condemnation sha��b� paid to Lender.The proceeds shal�be applied first to the reduction of the indebtedness under th� Second Note and Secor�d Security Instrument �as described in Paragraph �5) he�d by the Secretary on �he Property,an�i then to the reduc�ion of the xndebtedness under the Nate and this Se�ur�ty Instrumenf. Any excess proce�ds o�er an amount required to pay al�outstanding indebtedness under the Not� and this Se�urity Instrument shall be paid t�the entity lega�ly e�a�itled ther�to. S. Fee�. I�ender rnay collect fees and charges authorized by the Secretary. 9. Non-Barr�win�Spouse.Borrower,NIA,is married under the Iaws of NIA to NIA�"Non-Borrowing Sp�us�"}, who is not a Borrower under the terms of the"I�ote,""Laan Agr�ement"ar this Security Ins#rum�nt. (A} E�i ib�e Non-Borrowin S ouse. A Nan-Bortowing Spause identified by the Borrower wha meets, and cant�nues to m�et, the�ua�ifying A�r�but�s requir�ments established by the Se�r�ta.ry that the�Io�-�or�rawing Spouse must satisfy�n order ta be eligible for the Deferra�Periad, �B} Ineli ible Non-Sarrowin S uuse. A N�n-Barrowi�g S�ouse who d�es �ot me�t the Q�a�ifying Attributes rea�uirem�nts established by the Secr�tary that the Non-Borrowing 5pous�must satisfy in ar�er to be eligible far the I�eferral Period, 1�. �rounds for Acceleratian af De�t, (A} Due and Pa��te—Death, ��wl�ll M��I�I�I��I� (i} Except as provided in Pa�agraph �4�A�{ii},Len�ier may rec�uire imr�ediate payment in ful�af a�l sums s�cur�d by this Security Instxument if a Barro�v�r�1ies and th�Property is nat the Principal Residence of at l�ast ane sur�iving Borrawer. �ii} Lender shatl def�r the Du�an�I Pa�abi�requirement�flder Paragraph ��A��x}above for any period af time �"D�ferral Periad"� in which a �To�-B�rrov�ing Spous� identi�ied in Paragraph 9 quali�es as an Eligib�e I�Ton-Barro�v�ng Sp��se and c�rti�es a11 of the fvllovving conditians are,an�con�inue to b�,met: a Such Eligible Non-Barrowing Spouse rem�ained the spouse vf�he identified Borrower for the duratinn of s��h B�rr�v�er's lif�txme; b 5uc�h EZtg�b�e �Nan-Barravving S�au�e has occupi�d, and continu�s ta accupy, th� Property as ��islher�pr�ncipai Residen�e; c Such Eli�ible�on-Borrawing Spou�e has estab�ished legal ownership or ather angoing Iega�right ta remain�n the Prop�rty; d All other al�Iigatians af the Borro�ver under th� No�e, the Loan Agreement and this Security �nstrument continue tv l�e satiSfied; and e The�ote is r�o�eligible to be cailed du�and payab�e far any other re�san. This sub-paragraph�ii}�s inapplicable or nul�and void if an E�igib�e I�an-Borrowing Spouse is or becames an Ineligible�on-Barrowing Spouse at any time. �urther,during a deferra�of the due and payab�e status, shauld an� af the conditions far deferra� cease �o be rnet such a deferral shall immediately cease and the �ate will be��me irn�nediate�y due and payable in accordance with�he pro�isions of Paragraph 7�A}ti}of the l�ot�, �ne Rer�erse Mortgage,LLC Lvan�riginatar;Bruce�Isen Company-NMLS#:2�5�-Laan h�umber:33G9956G'�3 L�an Driginator NMLS#:9D2398 �ebra�rlra-i��Il�fER►S 5ecur�ty Instrumer�t�Adjustahle) Fag��'11 �Bay Iavcs,,�LC 43Iq11�D1 S ��3�G995�fi73 ��33 �38 �41'!