|
201906693
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a
<br />period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must
<br />pay all sums secured by the Security Instrument. If Borrower fails to pay these sums prior to the expiration
<br />of this period, Lender may invoke any remedies permitted by the Security Instrument without further notice
<br />or demand on Borrower.
<br />4. Borrower also will comply with all other covenants, agreements, and requirements of the Security Instrument,
<br />including without limitation, Borrower's covenants and agreements to make all payments of taxes, insurance
<br />premiums, assessments, escrow items, impounds, and all other payments that Borrower is obligated to make
<br />under the Security Instrument; however, the following terms and provisions are forever canceled, null and
<br />void, as of the date specified in paragraph No. 1 above:
<br />(a) 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 />(b) all terms and provisions of any adjustable rate rider, or other instrument or document that is affixed
<br />to, wholly or partially incorporated into, or is part of, the Note or Security Instrument and that
<br />contains any such terms and provisions as those referred to in (a) above.
<br />5. Borrower understands and agrees that:
<br />(a) All the rights and remedies, stipulations, and conditions contained in the Security Instrument relating
<br />to default in the making of payments under the Security Instrument shall also apply to default in the
<br />making of the modified payments hereunder.
<br />(b) All covenants, agreements, stipulations, and conditions in the Note and Security Instrument shall be
<br />and remain in full force and effect, except as herein modified, and none of the Borrower's obligations
<br />or liabilities under the Note and Security Instrument shall be diminished or released by any
<br />provisions hereof, nor shall this Agreement in any way impair, diminish, or affect any of Lender's
<br />rights under or remedies on the Note and Security Instrument, whether such rights or remedies arise
<br />thereunder or by operation of law. Also, all rights of recourse to which Lender is presently entitled
<br />against any property or any other persons in any way obligated for, or liable on, the Note and Security
<br />Instrument are expressly reserved by Lender.
<br />(c) 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 />(e) Borrower agrees to make and execute such other documents or papers as may be necessary or required
<br />to effectuate the terms and conditions of this Agreement which, if approved and accepted by Lender,
<br />shall bind and inure to the heirs, executors, administrators, and assigns of the Borrower.
<br />(0 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 assist
<br />Lender and Borrower in obtaining a foreclosure prevention alternative, or otherwise provide support
<br />services related to Borrower's loan. For purposes of this section, Third Parties include a counseling
<br />agency, state or local Housing Finance Agency or similar entity, any insurer, guarantor, or servicer
<br />that insures, guarantees, or services Borrower's loan or any other mortgage loan secured by the
<br />Property on which Borrower is obligated, or to any companies that perform support services to them
<br />in connection with Borrower's loan.
<br />LOAN MODIFICATION AGREEMENT—Single Family—Fannie Mae UNIFORM INSTRUMENT Form 31791/01 (rev. 4/14) (page 2 of 4)
<br />
|