201100699 - Laserfiche WebLink

Browse

201100699 (i) All or part of the Property, or a beneficrat interest in a trust ownmg all or pazt of the Property, is sold or otherwise transferred (other than by devise or descent�, and (ii) The Property is not occupied by the purchaser or grantee as his or her unncipai residence, or the purchaser or grantee does so occupy the Property but his or her credit has not been approved m accordance with the requirements of the Se�retary. (c) No Waiver. Tf circumstances occur that would permit Lender to require immediate payment in full, but Lender does not require such payments, Lender does not waive ats rights with respect to subsequent events. (d) Regulations of HUID Secretary. In many ctrcumstancas regulations issaed by the Secretary wiil limit Lender` s rights, zn the case of payment defaults, to require immediate payment in full and foreclose if not paid. This Security Instrument does not authorize a{;aeleration or foreclosure if not permitted by regulations of the Secretary. (e) Mortgage Not Insured. Borrower agrees that if this Security Instrument and the Note are nofi determined to be eligible for insurance undex the Nationai Housing Act within 60 days from the date hereof, Lender may, at its a�tion, require immediate payment in full of ali sums secured by this Security Instrument. A written statement of any authoryzed agent of the Secretary dated subsequent to 60 days from tne date hereof, declining to insure this Security Instrument and the Note, shall be deemed conclusive proof of such ineligibilily. Notwithstanding the foregoing, this aption may not be exerc�sed by Lender when the una�ailability of insnrance is soleiy due to Lender` s failure to remit a mortgage insurance premrum to the Secretary. 10. Reinstatement. Borrower has a right 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 mstituted. To reinstate the Secunty Instrument, Borrower shall tender �n a lump sum all amounts required to brmg Borrower` s account current including, to the extent they are obligations of Borrower under this Security Instrument, foreclosure costs and reasonable and customary attorneys' fees and expenses property associated with the foreciosure proceeding. Upon reinstatement by Borrower, this Secur�ty Instrument and tl}e obligations that it secures shall remain in effect as if Lender had not requ�.red immediate payment in full. However, Lender is not required to permit reinstatement if: (i) Lender has accepted reinstatement after the commencement of forectosure proceedings within twc years immediately kreceding the eommencement of a current foreclosure proceeding, (ii} reinstatement wifl preclude foreclosure on different grounds in the future, or (iii) reinstatement will adversely affect the priority of the lien created by t�is Security Instrument. 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time of payment or modification of amortizatton of the sums secured by this Security Tnstrument granted by Lender to any successor in interest of Borrower shall not operate to release .the liability oF the orrginal Borrower or Borrower` s successor in interest. L,ender sha11 not be requ�red to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors �n interest. .A.ny forbearance by Lender in exercising any rtght or remedy shall not be a waiver of or prectude the exercise of any right or remedy. 12. Successors and Assigns Bound; Joint and Several Liability; Co The covenants and agreements of this Securrty Instrument shall bind and benefit the succ�ssors and assigns of Lender and Borrower, subject to the provisions of pazagraph 9(b). Borrower` s covenants and agreements shall be �omt and several. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is co-s�gnmg this 5ecurity Instrument oniy to mortgage, grant and convey that Borrower` s mterest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and {c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrowwr' s consent. 2200103382 D V4NNE Initial. ,� -O -v ' �_ VMP�-4N(NE) �oao�l.oi raqe s oe a _ ........ . .. ...... . _ . ,; _ _ �