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201005297
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Last modified
7/30/2010 2:44:40 PM
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7/30/2010 2:44:39 PM
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DEEDS
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201005297
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201005297 <br />original lien status to be extended to future loan advances, Borrower will be deemed to have <br />failed to have performed an obligation under this Security Instrument. <br />(b) tax Deferral Programs. Borrower shall not pawdpate in a real estate tax deferral program, ff <br />any liens created by the tax deferral are not subordinate to this Security Instrument. <br />(c) Prior Liens. Borrower shall promptly discharge any Ilan which has prority over this. Security <br />Instrument unless Borrower: (a) egress in writing to the payment of the obligation secured by <br />the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends <br />against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to <br />prevent the enforcement of the lien or forfeiture of any part of the Properly; or {c) secures from <br />the holder of the lien an agreement satisfactory to Lender subordinating the lien to all amounts <br />secured by this Security Instrument. If Lender determines that any part of the Property is <br />subject to a lien which may attain priority over this Security Instrument, Lender may give <br />Borrower a notice identifying the lien. Borrower shalt satisfy the lien or take one more of the <br />actions set forth above within 10 days of the giving of notice. <br />13. Relationship to Second Security instrument. <br />(a) Second tiecurity Instrument. In order to secure payments which the Secretary may make to <br />or on behalf of Borrower pursuant to Section 255(ix1)(A) of the National Housing Ad and the <br />Loan Agreement, the Secretary has required Borrower to execute a Second Note and a <br />Second Security Instrument on the Property. <br />(b} Relationship of First and Second Security Instruments. Payments made by the Secretary <br />shall not be inducted in the debt under the Note unless: <br />(i) This Security Instrument is assigned to the Secretary; or <br />(ii) The Secretary accepts reimbursement by the Lender for all payments made by the <br />Secretary. <br />If the circumstances described in (1) or (fi) occur, then all payments by the Secretary, including <br />interest an the payments, but excluding late charges paid by the Secretary, shall be included <br />in the debt under the Note. <br />(c) Effect on Borrower. W here there is no assignment or reimbursement as described in (bxi) or <br />(ii) and the Secretary makes payments tq Bamawer, then Borrower shall not: <br />(i) Be required to pay amounts owed under the Note, or pay any rents and revenues of the <br />Property under Paragraph 19 to Lender or a receiver of the Properly, until the Secretary <br />has required payment-in-full of all outstanding principal and accrued interest under the <br />Second Note; or <br />(ii) 13e obligated to pay interest or shared appreciatbn under the Note at any time, whether <br />accrtied before ar after the payments by the Secretary, and whether or not accrued <br />interest has been included in the principal balance under the Note. <br />(d) No Duty of the Secretary. The Secretary has no duty to Lender to enforce covenants of the <br />Second Security Instrument or to take actions to preserve the value of the Property, even <br />~~I~{ II~ III ~I~I I) ~I I I I~I~~ III <br />q Z i 9 Z 00 <br />Matpaw¢~ Cedsnc~. Inc. ~ 0228 D7N7 (8 o11D) Nshr~slal DMd of Trust HELM FIXED RATE <br />
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