201000801 - Laserfiche WebLink

Browse

2oiooo8oi directly to the entity which is nwed the payment. Lf failure to pay would adversely affect Lender's interest in the Property, upon Lender's request Borrower shall promptly furnish to bender receipts evidencing these payments. If Borrowex fails tv make these payments ar the payments required by paragraph 2, ar fails to perform any other covenants and agreements contained in this Security Instrument, ar there is a legal proceeding that may significantly affect Lendex's rights in the Property (such as a proceeding in bankruptcy, fox condemnation or to enforce laws ox xegulations), then Lender may do and pay whatever i$ necessary to pxatect the value of the Property and Lender's rights in the Properly, including payment of taxes, hazard insurance and ath®r items mentioned in paragraph 2. Any amounts disbursed by Lender under this paragraph shall become an additional debt of Borrowex and be secured by this Security Instrument. These amounts shall bear interest from the date of disbursement at the Note xate, and at the option of Lender shall be immediately due and payable. Borrower shall pxomptly discharge any lien which has priority over this Security Instrument unless Harrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien ip, legal proceedings which in the Lendcx's opirrian operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agxeement satisfactory to Lender suboxdinatpag the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 1D days of the giving of notice. 8. Fees. Lender may collect fees and charges authorized by the Secretary. 9. Grounds for Acceleration of Debt. (a) Default. Lendex may, except as limited by xegulations issued by the Secretary in the case of payment defaults, require immediate payment in full of all sums secured by this Security Instrument (i) Borrower defaults by failing to pay in full any mnnthly payment required by this Security Instrument prior to or on the due date of the next monthly payment, ar (ii) Borrower defaults by failing, fnr a period of thirty days, to perform any other obligations contained in this Security Instrument. (b) Sale Without Credit Approval. Lender shall, if permitted by applicable law (including sectinn 341(d) of the Gam-St. Germain. Depositary Iustitutions Act of 1982, 12 U.S.C. 1701j-3(d)) and with the prior approval of the Secretary, require immediate payment in full of all sums~secured by this Security Instrument if (i) All ar part of the Property, or a beneficial interest in a trust owning all ax part of the Property, is sold or otherwise transferred (other than by devise ar descent), and (ii) The Property is not occupied by the purchaser or grantee as his or her principal residence, or the purchaser ar grantee does sa occupy the Fropexty, but his or her credit has net been approved in accordance with the requirements of the Secretary. (c) No Waiver. If circumstances occur that would permit Lender to require immediate payment in full, but Lendex does not xequire such payments, Lander does not waive its xights with respect to subsequent events. (d) Regulations of 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 authorize acceleration or foreclosure ifnot permitted by regulations of the Secretary. (e) Mortgage Not Insured. Borrower agrees that if this Security Instrument and the Nate are not determined to be eligible for insurance under the National Housing Act within 60 days from the date hereof, Lender may, at its option require immediate payment in full of all sums secured by this Security Instrument. A written statement of any authorized agent of the Secretary dated subsequent to BO days from the date hereof, declining to insure this Security Instrument and the Note, shall be deemed conclusive proof of such ineligibility. Notwithstanding the foregoing, this option may not be exercised by Lender when the unavailability of insurrance is solely due to Lender's failure to remit a mortgage insurance premium to the Secretary. l.p. Reinstateaaent. Borrnwer has a night to be reinstated if Lender has required immediate payment in full because of Borrower's failure to pay an amount due under the Note or this Security Instrument. This right applies even after foreclosure proceedings are instituted. To reinstate the Security Instrument, Borrower shall tender in a lump sum aA amounts required to bring Borrower's account current including, to the extent they are obligations of Borrower under this Security Instrument, foreclosure costs and reasonable and custarrrary attameys' fees and expenses 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 had not required immediate payment in full. However, Lender is not requvred to permit reinstatement if: (i) Lender has accepted reinstatement after the commencement of foreclosure proceedings within two years immediately preceding the NEBRASKA FRA DEED QF TRUST NEBRASKA-MFRS tt WE~NER,SDOD0413313 6/9b ((GreatDocs° OOO~a133'1~3