200602264 - Laserfiche WebLink

Browse

200602264 also required under Applicablc Law, the Applicable Law requirement will satisfy the corrcsponding requirement under this Security Instrumcnt. 14. Governing Law; Severability; Rules of' Construction. This Security InstnJlnent shall be governcd by federal law and the law of the jurisdiction in which thc Property is located. All rights and obligations contained in this Security Instrument are subject to any rcquirements and limitations of Applicable Law. Applicable Law might cxplicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not bc construcd as a prohibition against agreement by contract. In the event that any provision or clause of this Security Instrument or thc Note conflicts with Applicablc Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given cffect without the conflicting provision. As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding ncutcr words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) thc word "may" gives sole discretion without any obligation to take any action. 15. Borrower's Copy. Borrower shall be given onc copy of the Note and of this Security Instrument. 16. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 16, "Interest in the Property" means any legal or bcneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is thc transfer of title by Borrower at a futurc datc to a purchaser. If all or any part of thc Propcrty or any Interest in the Property is sold or transfcrred (or if Borrower is not a natural person and a beneficial intcrest in Borrower is sold or transferred) without Lender's prior written consent, Lender may rcquire immediate payment in full of all sums sccurcd by this Security Instrument. However, this option shall not be exercised by Lender if such cxercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall givc Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 13 within whieh Borrower must pay all sums seeured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lcnder may invoke any remedics permitted by this Security Instrument without further notice or demand on Borrower. 17. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a jndgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as ifno acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, Reasonable Attorneys' Fees, property inspection and valuation fees, and other fees incUlTed for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instmment, shall continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (e) certified check. bank check. treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits arc insured by a federal agency, instmmentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective as if no aceeleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 16. 18. Sale of Note; Change of Loan Servieer; Notice of Grievance. The Note or a partial interest in the Note (together with this Security Instmment) can be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (known as the "Loan Servicer") that collects Periodic PaYlllents due under the Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be one or more changes of the Loan Servieer unrelated to a sale of the Note. If there is a change of the Loan Servieer, Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer, the address to which payments should be made and any other information RESPA requires in connection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the 11111111111111111111111111111111 111111111111111111 35586733 page" of 10 NE-2D40-0805