90104920 - Laserfiche WebLink

Browse

104920 9. CANON* for 14 of I)ebL (a) Who& Lesider may. except - as limited bYastilations issued by the Secretary in the case of payment defaults, require immediate payment in full of all sums secured by this Security Instrument if, 0) Bmawer defaults by failing to pay In full kW monthly paymedt required by this Security 6trument prior to or on the &W daft of the an in=" payment, or (101 akwfairer _defkub byfaffift. for aperf9d of thirty days, to perform any other obligations contained in this security '--A* SO dt0sift VPft p=imdbyq0k" law md with the prior approval of the ,%=gtuy, require ffic sums secured by to *=q Instrument ifi is oftewin transferred (oftr than by or (0,7111'bi pirtof demofty by the Borrower, and (U) Ibil, ft*MV is 10 occupied by the purchwer or grudge as his of her or wconbr� residence, or the INIMM" or gi-doe dlift*om"lloaftepertybo his orber fil lumnot bectiapprovedin scorn *nce wi6the � Ilf F F , of= (c) No lYalmer. If cirmumtIMM occur that WOUM permit Under to require Immediate payment In full, but Lender does not require such payments. Lender does not waive its ft1lits with respect to subsequent events, (40 FA9d11dM of HUD Secelsey. In many circumstances regulations Issued by the Secretary will limit Lender's rights, in the caw of payment defaults, to require immediate payment In full and foreclose if not paid. Ibis Security Instrument does; JIM audioriie acceleration or forecIffiatre if M permitted by regulations of the Secretary. '10 F 44hr to it rdnMW if Under has required Immediate payment in. fun bemuse of- AdmollobneW. Borrow has a -Sbt es even after foreclosure Borrowees failure to pay an amount due under the Note or this Security Instrument. This r; applies PrOmdiuP are kgftttd. TO Ifelflititte the Security Instrument, Borrower shall tender in a lump sum all amounts required to bft Borrower's amount current including, to the extent they are obligations of Borrower under this Security Instrument, foreclosure was and reasonable and customary attomWs fees and expenses properly associated with the foreclosure proceedin& UPonteins! i —t by Borrower, this Security Immument and the obligations that it secures shall remain in effect as if Lander hadnot required immediate payment in full. However, Lender is not required to permit reinstatement if: (i) Lender has accepted reinstatement after the commencement of foreclosm proceedings within two years Immediately preceding the commencement of a current foreclosure proceeding, (if) reinstatement will preclude foreclosure on different grounds in the future, or (ii) reinstatement will adversely affect the priority of the Hen created by this Security Instrument. IL Rarewo Not Released, Forbearance ft lender Not a Wisher. Extension of the time of payment or modification of amordzuion of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release.the liability of the original Borrower or Borrower's successor in Interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to mend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in Interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. IL Succesms ad Assigns Clawed; Joint and Several Liability; Co•SlIgmers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 9.b. Borrower's covenants and ;agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrument on!v to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; (b) is jun personally obligated to pay the sums secured by this Security -Instrument; and (c) agrees that Lender and any other Borrower n ay agree to extend, modify. forbear or make any accommodations with regard to the term of this Security Imtriswent or the Note without that Borrower's consent. 13. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's address stated herein or any address Under designates by notice to Borrower. Any notice provided for in this Security instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. U. Goveraft Law; Severaltillity. This Security Instrument shall be governed by Federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument of the Note conflicts with ap. plicable law, such conflict shall not affect other provisions of this Security Instrument Or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 15. Norrower's Copy. Borrower shall be given one confined copy of this Security Instrument. 16. Aodpwits of Lints. Borrower unconditionally assigns and transfers to Lender all the rents and revenues of the Property. Borrower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs each tenant of the Property to pay the rents to Lender or Lender's agents. However. prior to Lender's notice to Borrower of Borrower's breach of any cove- nant or spectricni in the Security Instrument, Borrower shall collect and receive all rents and revenues of the Property as trustee for the benefit of Lender and Borrower. This assignment of rents constitut es an absolute assignment and not an assignment for saditional security only. If Lender gives notice of breach to Borrower: (a) all rents received by Borrower shall be held by Borrower as trustee for benefit of Under only. to be applied to the sums secured by the Security Instrument; (b) Lender shall be entitled to collect and receive all of the rents of the Property; and (c) each tenant of the Property shall pay alt rents due and unpaid to Lender or Lender's agent on Lender's written demand to the tenant.. Bdrrower has not executed any Oat assignment of thr rents and has not and will not perform any act that would prevent Lend" from exercising Its rights under this paragraph 16. Leader shall not be required to enter upon. take control of or maintain the Property before or after giving notice of breach to Borrowif. However. Lender or a judicially appointed receiver may do so at any tine there is a breach. Any applicatim of rents shall not cure or waive any detwult or invalidate any other fight or remedy of Lender. This assignment of rents of theTropefty shall terminate when the debt secured by the Security Instrument is paid in full. 0