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201107137
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9/27/2011 9:49:02 AM
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9/27/2011 9:49:02 AM
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DEEDS
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201107137
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���1a�137 <br />exercised by Lender when the unavailability of insurance is solely due to Lender's failure to remit a <br />mortgage insurance premium to the Secretary. <br />10. Rei�statement. Bonower has a right to be reinstated if Lender has required immediate payment in full <br />because of Bonower's failure to pay an amount due under the Note or this Security Instrument. This right <br />applies even after foreclosure proceedings aze instituted. To reinstate the Security Instrument, Bonower <br />shall tender in a lump sum a11 amounts required to bring Bonower's account current includ'vng, to the <br />extent they aze obligations of Bonower undar this Security Instrument, foreclosure costs and reasonable and <br />customary attomeys' fees and expenses properly associated with the foreclosure proceeding. Upon <br />reinstatement by Borrower, this Security Insm�ment and the obligations that it secures shall remain in effect <br />as if I,ender had not required immediate payment in full. However, L.ender is not required to permit <br />reinstatement if: (i) Lender has accepted reinstatement after the commencement of foreclosure proceedings <br />within two years immediately preceding the commencement of a current foreclosure proceeding, <br />(ii) reinstatement will preclude foreclosure on different grounds in the future, or (iii) reinstatement will <br />adversely affect the priority of the Iien created by this Securiry Instrument. <br />11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time of payment or <br />modification of amortization of the sums secured by this Security Instrument granted by Lender to any <br />successor in interest of $onower shall not operate to release the liability of the original Borrower or <br />Borrower's successor in interest. Lender shall not be required to commence proceedings against any <br />successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums <br />secured by this Security Instrument by reason of any demand made by the original Bonower or Bonower's <br />successors in interest. Any forbeazance by Lender in exercising any right oz remedy sha11 not be a waiver of <br />or preclude the exercise of any right or remedy. <br />12. Successors and Assigns Bound; Joint and Several Liability; Co-Signers. The covenants and <br />agreements of this Security Instrument sha11 bind and benefit the successors and assigns of Lender and <br />Borrower, subject to the provisions of patagraph 9(b). Borrower's covenants and agreements shall be joint <br />and several. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is <br />co-signing this Security Instrument only to mortgage, grant aud convey that Bonower's interest in the <br />Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured <br />by this Security Insm�ment; and (c) agrees that Lender and any other Borrower may agree to extend, modify, <br />forbeaz or make any accommodations with regard to the terms of this Security Instrument or the Note <br />wiWout that Bonower's consent. <br />13. Notices. Any notice to Bonower provided for in tlus Security Insmxment shall be given by delivering it or <br />by mailing it by first class mail unless applicable law requires use of another method. The notice shall be <br />directed to the Property Address or any other address Bonower designates by notice to Lender. Any norice <br />to Lender sha11 be given by first class mail to Lender's address stated herein or any address Lender <br />designates by notice to Borrower. Any notice provided for in tlus Security Instnunent shall be deemed to <br />have been given to Borrower or Lender when given as provided in this paragraph. <br />14. Governing Law; Severability. This Security Instrument shall be govemed by Federal law and the law of <br />the jurisdiction in which the Properiy is located. In the event that any provision or clause of this Security <br />Instrument or the Note conflicts with applicable law, such conflict shail not affect other provisions of this <br />Security Instrument or the Note which can be given effect without the conflicting provision. To this end the <br />provisions of this Security Instrument and the Note are declared to be severable. <br />15. Borrower's Copy. Bonower sha11 be given one conformed copy of the Note and of this Security <br />Instavment. <br />FHA Deed of Trust-NE <br />VMP � <br />Woltera Kluwer Flnancial Services <br />4/98 <br />VMP4R(NE} 11'!05) <br />Page 8 of 10 <br />
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