90105652 - Laserfiche WebLink

Browse

t 90--- 105652 f). C~" tar Anebraflaa of DoW, (a) Defeat Lender may, except as limited by regulations issued by the Secretary in the case of payment defaults. require immediate payment in full of all sums secured by this Security Instrument if: (i) Borrower defaults by failing to pay in full any monthly payment required by this Security Instrument prior to or on the due date of the next monthly payment, or (ii) Borrower defaults by failing, for a period of thirty days, to perform any other obligations contained in this Security Instrument. (b) Sale WMMoul Craw Appeoval. Lenda shall, if permitted by applicable law and with the prior approval of fife Secretary, niquire istuttsdlate payment in hill of all the sums securod yb this Security Instrument if- (I) All or pan of the Property is otherwise transferred (other than by devise or descent) by the Borrower, said Ui) The hirtpeny is not occupied by the purchaser or grantee as his or her primary or secoarlary residerim, or the purchaser or grantee does so occupy the Property but his or her credit has suit been appro%vil is caccordance with the mquirtimam of th Savory (e) No WNsar. If circumstances occur that would permit Lender to require immediate payment in full, but Lender does not require such payments, Lender does nut waive its rights with respect to subsequent events. (d) Relfakdotaa at HUD Secretary. In many circumstances regulations issued by the Secretary will limit Lender's rights, in the case of payment defaults, to require immediate payment in full and foreclose if not paid. This Security Instrument does not authorise amkration or foreclosure if not 1wermitted by regulations of the Secretary. W. Rdtaalatetaut t. Borrower has a right to be reinstated if Lender has required immesdiate payment in full because of Borrower's failure to pay an amount roue under the Note or this Security Instrument. This "S; , applies even after foreclosure proceedings are instilutcd. To reinstate the Security Instrument, Borrower shall tender in a )unip sum all amounts required to bring Borrower's accaun• .current including, to the extent they are obligations %t( Borrower under this Security Instrument, foreclosure costs and reasonable and customary attorney's fees and expew e, properly associated with the foreclosure proceeding. Upon reinstatement by Borrower. this Security Instrument and the obligations that it secures shall remain in effect as If Lender boa xol required immediate payment in full. However, Lender is not required to permit reinstatement if. (i) Lender has accepted reinstatement after the commencement of foreclosure proceedings within two years immediately preceding the commencement of a current foreclosure proceeding, (h) reinstatement will preclude foreclosure on different grounds in the future, or (iii) reinstatement will adversely affect the priority of the lien created by this Security Instrument. 11. Borrower Not RoLemed: F'orbewism Illy 11AWmer Not a Waiver. Fislene►%n of the time of payment or modification of amortization of the Gums :secured by the ciecurity Instrument granted by Lender to any %ucces•un rr, interest of Borrower shah not operate to release the liabihiy of the onjmal Burrower or Bormw:e :'s successor in interest a, nda shall not be required to commence proceedings against any successor in interest or refuse to -extend time tar payment or otherwise modify amortivation of the sums secured ht, this Security Instrument by reason of any demand rceade by the original Borrower or Borrower's successors in interest. An!, forbearance by Lender in exercising any right in remedy shall not he a waiver of or preclude the exercise of any right or remedy. 12. Saccumaa wW Assign Il waid; Joint sad ! everal I fabilitx; 4 a- Slgem. The covenant% and agreements of this %&Unty t Instrument shall bind and benefit the successors and assigns of Lender and Bot►nwer, subject to the provisions of paragraph 9. h. 1 a� Borrower's covenants and agreements shall be Joint avid several. Any Borrower 4t i co-signs this Security In-mumeni but does f _. not execute the Note: (CIA 41 co- signing this Security Iwarument only to mortgagor, grant and convey that f�, *(rower's interest m the Property under the term., of this %Imutsty Instrument; f h) is n.st personally obligated it) paw the sums secured by this Security Instrument; and (c) agrees that 1 eotsirr and any other Ilorr.•,wet may agree to extertva, modify, forbear or make any accommodations with regard to the term of this Security Instrursret•v or the Note without that harrower'% consent. U. Nedices. Any nolrte so Borrower provided for in this Security Instrument Otall be given by delivering it or by mailing it by _ first clan mail unless app :.able law requires use of another method. The notice +null he directed to the Property Addrm or any other address Borrower Miignates by notice to I ender. Any notice sit I ender shall be given by first class mail to l ender'% address stated herein, or any sddtess Lender designates hs, noti;e to Iltirro%w r. Any notice provided for in this Security Instrument shall be deemed :. have been given to Borrower or I ender when giver. u provided in this paragraph. lid. CavrraahgLaw; 5eterawlty. This Security Instrument shall he go%erlica t%v hederal law and the law o! the jurisdiction in which the Property is located. In the event that any provision or ciau%e of this tiro umv Instrument or the tiote :onfhao, with ap- plicable law, such conf'hce shall not affect other provisions of ihaa Secunt% Instrument or the *tote whicih can he given effect without the conflicting provision. Ttv ibis end the provisions of this Security Instrument awd the Note are declared to be severable. 15. Roeower's Copy,. }borrower shall he given one dontormed copy of thr.- c.• ci:rits Instrument M. Aulpinaat of bona. Borrower unconditionally assigns and tramier% 1411 ender all the rents and revenue %of the 1'r..pd7ry Borrower wvhontes Lender or Lender's agents to collect the rent•i ind avenues and herehy ditedt% each tenant tit the ly igtvviv to pay the r.an1.a to Ltader or Lender's agents. However, prior to, 9 ti -Jer'% notice io Harrower of tlstrr(►wer'%breach Warty ci•ve nant or agreement in the Security Instrument. Borrawet shall colleo and receive all rents and revenues tit oft ilowperty as truster 'tor the betsehit ei i.eadet acrd borrower. Ihis asstgnrmznt of tent` constitutes A6 -iN)lute assignment and WN,I in avvgnrnenl for addhional wcurim onl►: . If Lender gives notkv of breach to borrower: (a) all tent% recc^eAl t%} Iorrower shall he t%eW f-v Borrower as tru%lee for benefit of Lender onh, to hespplxd to the --urns secured by the Security cv. n!Lmeni 1 b)1 ender %haft Cw entitled to toll co and rot. ene all of the refits of the Ptoperey. and Ic) each tenant of the Property sihatl pay all rents due and unpaid to I ruder tar 1 ender' %agent on Lender's written dmued to the tenant. Borrower has not « iecuted arty prior assignment ►►f the rem% and ha% ti.•r 4nd will not perform any act that would present Lender from exercising its Fight% under this paragraph 16 Lender shall not herequired to enter upon, to ►e .untrol of .a maintain iht Neoperty belt►re or alter gi%ins notice tit breach to Borrower. However, lender of a Judicially apponited tneiser ffw1 do %►t at ans time there .% a hre wh An% al-ph,m - :•, I rent% shall not cure or waive any default of invalidate ans other right or remedy of Lender I hs% assiKtinctie t4 rent % Fit the Prnpert% shall terminate when the debt secured by the tic.uruv fn%rrument n paid! in full n� __" —�°.. ten_• -4:. ' -. �___� _._.- �_..:- _..�..- ...,��... -. .. .v. - .- _.. _- .. �.� ts._ _ -`f Ct -: _ - _"_Y': �f'��"= _. -_ -_ -__. _ _ r.�