201008546 - Laserfiche WebLink

Browse

20100854G 12. Substitute Trustee. Lender, at its option and with or without cause, may from time to time remove Trustee and appoint, by pawer of attorney or otherwise, a successor trustee to any Trustee appointed hereunder. Without conveyance of the Property, the successor trustee shall succeed to all the title, power and duties conferred upan Trustee herein and by applicable law. 13. Snbragation. Any of the proceeds of the Note used to take up outstanding liens a�ainst all or any part of the Property have been advanced by Lender at Borrawer's request and upon Borrower's representation that such amounts are due and are secured by valid liens against the Property. Lender shall be subragated to any and all rights, superior titles, liens and equities ow�d or claimed by any owner or holder of any owner or holder of any outstanding liens and debts, re�ardless of whether said liens or debts are acquired by Lender by assignments or are releas�d by the holder thereof upon payment. 1�. Partial Invalidity. Tn event any portion of the sums intended to be secured by this Security Instrument cannot be lawfully secured hereby, payments in reduction of such sums shall be applied first to those portions nat secured hereby. In the event that any applicable law limiting the arr►ount of interest or other charges permitted to be collected is interpreted so that any charge pravided for in this Security Tnstrument or in the Note, whether considered separately or together with other charges that are cansidered a part of this Security Instrument and Nate transaction, violates such law by reason, such charge is hereby reduced to the extent necessary to eliminate such vialatian. The amounts of such interest or other charges previously paid to Lender in excess of the amounts permitted by applicable law shall be applied by lender ta reduce the principal of the indebtedness evidenced by the Note, ar, at Lender's option, be refunded. 15. Loan Charges. �f the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected ar to be collected in connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the chaarge to the permitted limit; and (b) any sums already collected fram Borrower which exceeded permitted limits will be refunded ta Barrower. Lender may choose to rnake this refund by reducing the principal owed under the Note or by making a direct payment ta Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment withaut any prepayment charg� under the Note. 16. Barrower's Autharization for Disclosure af Financial Infarmatian. Borrower hereby authorizes the holder of any mortgage, deed of trust or other encuznbrance with a lien that has a priority over this Security Instrument to disclose any financial information requested in writing by the above-named Lender re�arding Borrower's loan. Such in:formation may include, but shall not be limited to, the fallowing information: cuxrent loan balance, loan status, delinquency notices, tax atld insurance receipts, hazard insurance policies and flood insurance policies, and any other information deemed necessary in its sole discretion by Lender. Page 5 of 8 Initials � �