90106931 - Laserfiche WebLink

Browse

. si,��:s�4{itt ti r 4, 90--. 106931 !. Crseads f r Atreletat sm of DabL tat Dd*ML Lander on .app as limited by regtdatbw Issued by the Stttxatary In the case of payment defstdta, require immedlae psymast in full of all sum secured by thtis Security Instrument if: (1) Borrower dofaalts by faglry to pay in lidn say monthly paymetlt required by this Security Inurulbettt prior to or on the due date of the next monthly payment, or (io Borrower dd%Wu by fW tg, for a period of thirty days, to perform any otha obligations contained in this Security Isstrtrmmst. (h) Sala WMM A CNO Appa+ovaL Iowa shall. u ptemWed by apPlie" law ad wkb the Pier WPmvW of the Secretary, require imraedkm p ymeot is fell of all dw stuns sewed by ale sft r Instrument if (1) AN or pat of the Property is otherwise orandwW (odor than by drvbro or duaw) by the Borrower, and (p) The Prnpety is not occupied by the purchaser or grantee as his or her pdreary or secondary roddence• or the prrc1� or gtsasee dam so campy the Property, but bit or bar credit has not bees approved is Meadeoe WUh dw requirements d rite Saest:tary. (c) No Wuhan. If circumsunea occur that would permit Leader to require immediate payment in full, but Lender does not require such payments, Lender does tot waive its rights with respect to subsequent events. (d) Rgpb oat of HUD Sacsttary. in many circumswsces replat(omi issued by the Secretary will limit Lender's rights, in the case of payment deft" to require immediate in full and foreclose it not paid. This Security Instrument does not authorise acceleration or foreclosure if not pu�by regulations of the Secretary. A. RelmetawmL Owower has a right to be reinstated if Lender has required immediate payment in full because of Bonowees failure to pay an amount due under the Note or this Security Instrument. This right applies even after foreclosure pDroceedings are instituted. To reinstate the security Instrument, Borrower shall tender in a lump sum all amounts required to bring Bonowa's account current Including, to the extent they are obligations of Borrower under this Security Instrument, foreclosure coats ad wasesuble and customary attorney's fees and expenses properly associated with the foreclosure precadig. Upon reinstatement by Borrower, this Security Instrument and the rtggaattions that it secures than remain in effect as If Lender had not require! immediate payment in fail. However, Lender is not r�equtred to permit reinstatement if: (i) Lender has accepted reinstatement after the commencement of foreclosure prOmcdings within two years immediately preceding the comencement of a current foreclosure proceeding, p1) reimsuttetnent. will preclude foreclosure on different tuouads in the m future, or ( iii) reinstatement will adversely affect the priority of the Hen created by this Security Instrument. 11. Borrower Not Released; Forbearance By Under Not a Walser. Extension of the time of payment or modification of amortization of the aunts 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 shelf nor be required to commence pr 'no against any successor in interest car refuse to extend 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 rca dy. 1a. Successors and Amigos Boned; Joint sad Several Liability; Cc- SgIgem. The coverunts and agreements of this Security Instrument shall bind and benefit the successors and assigrn of Lender atndBorrower, subject to the provisions of paragraph 9.b. Borrower's covenants and agreements shall be joint and several. Any Borrower who co -sips this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage. grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may, agree to extend, modify, forbear or make any accommodations with regard to the term of this Security Instrument or the Note without that Borrower's consent. 0. 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 desismtc3 by notice to Lender. Any notice to Lender shall be given by (lilt class mail to Lender's address stated herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been git,en to Borrower or Lender when given as provided in this paragraph. 14. Coveraiag Law; SeverabBgty. This Security Instrument shall be governed by Federal law and the paw of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with ap• plkable law, such conflict shall not affect other providons 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 arc declared to be severable. IS. Borrower's Copy. Borrower shall be given one conformed copy of this Security Instrument. 16. Aalgnsnent of Rents. Borrower unconditionally assigns and transfers to Lender all the rents and revenues of the Property. Borrower authorizes Leader 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 agreement 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 constitutes an absolute assignment and not an assignment for additional 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 Lender only, to be applied to the sums secured by the Security Instrument: (b) Lender shall beentitled to collect and receive all of the tents of the Property; and (c) each tenant of the Property shall pay all rents due and unpaid to Lender or Lender's agent on Lender's written demand to the tenant. Borrower has not executed any prior assignment of the rents and has not and will not perform any act that would prevent Leader from exercising its rights under this paragraph 16. L=4& sima ant be required to enter upon, take control of or maintain the Property before or after giving notice of breach to Borrower... Ib;Ywmer,. Under or a judicially appointed receiver may do so at any time there is a breach. Any application of rents shall nun oar, oe %3J.% %r;uat default or +nwilidate any otiser r+sht or remedy of Lender. This assignment of rents of the Property shall tantiaaw whom ft &bt scoured by tho Smm" -y OwgromxhO::� Paid in full. Punt! .•I4 i w 0 fi` - . -• -�- i