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200901255
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Last modified
2/20/2009 3:32:35 PM
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2/20/2009 3:32:34 PM
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DEEDS
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200901255
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<br />. <br /> <br />200901255 <br /> <br />18. Traasfer oftbe Property or a Benefltial Interest in Borrower. As used in this Section 18. "Interest <br />in the Property" means any legal or beneficial interest in the Property, including. but not limited tn, those beneficial <br />interests fIansfetTed in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent <br />of which is the transfer of title by Borrower at: a future date tn a purchaser. <br />If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a <br />natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, <br />Lender may require immediate payment in full of all sums secured by this Security Instrwnent However, this <br />option shall Dot be exercised by Lender if such exercise is prohibited by Applicable Law. <br />If Lender exercises this option, Lender shall give Borrower notice of acce!.enltiOD. The notice shall provide <br />a period of not less than 30 days from the date the notice is given in accordance with Section I S within which <br />Bonower must pay all sums secured by this Security Instrumer:rt. If Borrower fails to pay these sums prior to the <br />expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without furtber <br />notice or demand on aorrower. <br />19. Borrower's ltight to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower <br />shall have the right to have enforcement of this Security Instrument discontinued Il1: any time prior to the earliest of: <br />(a) five days before sale of me Property pursuant to any power of sale contained in this Security Instnunent; (b) such <br />other period as Applicable Law might specifY for the termination of Borrower's right to reinstate; or (c) entty of a <br />judgment enforcing this Security Instrument Those conditions are that Borrower: (a) pays Lender all sums which <br />then would be due under this Security Instrument and the Note as if no accclcrati(lO had occ.u.rred; (b) cure$ any <br />default of any other covenanrs or agreements; (c) pays aU expenses incurml in enforcing this Security Instrument, <br />including. but not limited. to, reasonable attorneys' fees, property inspec:tion and valuation tees, and other fees <br />incurred. for Che purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and <br />(d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights <br />under this Security Instrument, and BOtTOwer's obligation to pay the sums secured by this Security Instrument, shall <br />continue unchanged. Lender may require that Borrower PKY such reinstatement sums and expenses in one or more <br />of tile following fonns, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank cbeck, treasurer's <br />check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a <br />federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this <br />Security Instrument and obligations seCW'ed hereby shall remain fully ~ve as if no acceleration had occurred. <br />However, this right to reinstate shall not apply in the case of acceleration under Section 18. <br />20. Sale of Note; Change of LoaD Servicer; Notice of Grievance. The Note or a partial interest in the <br />Note (together with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale <br />might resuh in a change in the entity (known as the "Loan Servicet'J that collects Periodic Payments due under the <br />Note and this Security Instrument and perfonns other mortgage loan servicing obligations under the Note, this <br />Security Instrument, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated <br />to a sale of the Note. If there is a change of the Loan Servicer, BOtrOwer will be given written notice of1he change <br />which will state the name and address of the new Loan Servicer, the address to which payments should be made and <br />any other information RESPA requires in connection with a notice of transfer of servicing. If the Note is sold and <br />thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicfug <br />obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicor and are <br />not assumed by the Note purchaser unless otherwise provided by the N01e purchaser. <br />Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either an <br />ittdividual litigant or the member of a class) that arises from the other party's actions pursuant to this Security <br />Instrument or that alleges that: the other party has breached any provision o~ or any duty owed by reason ot; this <br />Secwity Instrumeot, until such Borrower or Lender has notified the o1her party (with such notice given. in <br />compliance with the requirements of Section 15) of such alleged breach and afforded the other peaty hereto a <br />reasonable period after the giving of such DOtice tn take corrective action. If App1icable Law provides a time period <br />which must elapse before certain action can be taken, that time period will be deemed to be reasonable for purposes <br /> <br />NdJrasb. Deed ofTrut--S.lIle~ F:amily-FaJUlie Mae/Fted4Je Mae Ullitbrm Iastrumellt F_ J028 I~I . 0 <br />MERS MedIfi8d <br />'Ihe Complilmce Soun:e, ...~ Pap II or 14 Modifie4 by compliUce Source 1430INI OSIOO Rev. 04 <br /> <br /> <br />iilrniUii.... .IIIIUIIIIII. .11 111m! I iiiiliilllill ~<J <br />* + 0 234 909 3 6 4 + 0 0 A D + 1 1 + 14* <br />
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