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200007542
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Last modified
10/13/2011 7:31:50 PM
Creation date
10/20/2005 9:30:55 PM
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DEEDS
Inst Number
200007542
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200007542 <br />Lender, which wholly or partially secure or guaranty payment of the Note (the "Other Security <br />Documents "), are hereby made a part of this Security Instrument to the same extent and with the <br />same force as if fully set forth herein. <br />3. Protection of Lender's Rights in the Property. If Borrower fails to perform the <br />covenants and agreements contained in this Security Instrument, or there is a legal proceeding <br />that may significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, <br />probate, for condemnation or forfeiture or to enforce laws or regulations), then Lender may do <br />and pay for whatever is necessary to protect the value of the Property and Lender's rights in the <br />Property. Lender's actions may include paying any sums secured by a lien which has priority <br />over this Security Instrument, appearing in court, paying reasonable attorney's fees and entering <br />on the Property to make repairs. Although Lender may take action under this paragraph 3, <br />Lender does not have to do so. <br />Any amounts disbursed by Lender under this paragraph 3 shall become additional debt of <br />Borrower secured by this Security Instrument. Unless Borrower and Lender agree to other terms <br />of payment, these amounts shall bear interest from the date of disbursement at the Note rate and <br />shall be payable, with interest, upon notice from Lender to Borrower requesting payment. <br />4. Notices. Any notice to Borrower, Lender or Trustee provided for in this Security <br />Instrument shall be given by delivering it or by mailing it by first class mail, unless applicable <br />law requires use of another method, to such party at the address set forth above. <br />5. Default. Borrower shall be deemed to be in default hereunder in the event that <br />any portion of the amounts owing under the Note is not paid in the manner required by the Note, <br />this Security Instrument or any of the Other Security Documents. <br />NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree as <br />follows: <br />6. Acceleration; Remedies. Lender shall give notice to Borrower prior to <br />acceleration following Borrower's breach of any covenant or agreement in this Security <br />Instrument (but not prior to acceleration under paragraph 8 of the Lease Agreement unless <br />applicable law provides otherwise). The notice shall specify: (a) the default; (b) the action <br />required to cure the default; (c) a date, not less than 30 days from the date the notice is given to <br />Borrower, by which the default must be cured; and (d) that failure to cure the default on or <br />before the date specified in the notice may result in acceleration of the sums secured by this <br />Security Instrument and sale of the Property. The notice shall further inform Borrower of the <br />right to reinstate after acceleration and the right to bring a court action to assert the non - existence <br />of a default or any other defense of Borrower to acceleration and sale. If the default is not cured <br />on or before the date specified in the notice, Lender at its option may require immediate payment <br />in full of all sums secured by this Security Instrument without further demand and may invoke <br />the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to <br />collect all expenses incurred in pursuing the remedies provided herein or in the Other Security <br />Documents, including, but not limited to, reasonable attorneys' fees and costs of title evidence. <br />
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