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201107150
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201107150
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Last modified
9/27/2011 9:51:53 AM
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9/27/2011 9:51:53 AM
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DEEDS
Inst Number
201107150
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�0�107150 <br />Any amounts disbursed by Lender under this pazagraph shall become an additional debt of Bonower and be <br />secwred by this Security Instrument. These amounts shall bear interest from the date of disbursement, at the <br />Not� rate, and at the option of Lender, shall be immediately due and payable. <br />Bo ower shall promptly discharge any lien which has priority over this Security Instrument unless Bonower <br />(a) grces in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; <br />(b) ntests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which <br />in e Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the <br />lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender <br />dete ' es that any part of the Properly is subject to a lien which may attain priority over this S�urity <br />Ins t, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take <br />one r more of the actions set forth above within 10 days of the giving of notice. <br />8. Fee�s. Lender may colle,ct f�s and charges authorized by the Secretary. <br />9. <br />(a) <br />(b) <br />(c) <br />(d� <br />{e1 <br />for Acceleration of Debt. <br />Def�ult. Lender may, except as lunited by regulations issued by the Secretary, in the case of payment <br />defaults, require immediate payment in full of all sums s�ure� by this Se�urity Instivmant if: <br />(i) Borrower defaults by failing to pay in full any monthly payment required by this Securiry <br />Instrument prior to or on the due date of the next monthly payment, or <br />(ii) Borrower defaults by failing, for a period of thirly days, to perform any other obligations <br />contained in this Security Instrument. <br />Sale Without Credit Approval. Lender shall, if permitted by applicable law (including Section <br />341(d) of the Garn-St. Germain Depository Institutions Act of 1982, 12 U.S.C. 1701j-3(d)) and with <br />the prior approval of the Secretary, require immediate payment in full of all sums secured by this <br />Se�urity Instrument if: <br />(i) All or part of the Property, or a beneficial interest in a trust owning all or part of the Properiy, is <br />sold or otherwise transferred (other than by devise or descent), and <br />(ii) The Properly is not occupied by the purchaser or grantee as his or her principal residence, or the <br />purchaser or grant� does so occupy the Property but his or her credit has not b�n approved in <br />accordance with the requirements of the Secretary. <br />No Waiver. If circumstances occur that would permit Lender to require immediate payment in full, but <br />Lender does not require such payments, Lender does not waive its rights with respect to subsequent <br />events. <br />Regula�ion� mf HU� Secxe�tary. In �y circumstances regulations is.sued by th� Se�retary will lixnit <br />d�der's rights, isi the c�se of payment defaults, to reqvire immediate payment in full and for�lose if <br />nmt paid. This �ity Instrument does not authorize accelera.rion or fore,closure if not permitteti by <br />regulations of the Secretary. <br />Mortgage Not i�sured. &�arower ags�eas that if this Security Instniment and the Note are not <br />deteruqiaed to be eligi�le for ir�sur�.nce under the National Housing Act within 60 days from the date <br />hereof, Lender may, at its oprion, r�uire immediate payment in full of all sums s�ured by this <br />Security Instrument. A written statement of any authorized agent of the Secretary datefl subsequent to <br />60 days from the date her�f, d�lining to insure this Security Instrument and the Note, shall be <br />d�med conclusive proof of such ineligibility. Notwithstanding the foregoing, this option may not be <br />FHA Deai of �rust-NE 4 <br />VMP Q VMP4R(NE) (1105) <br />Wokers Kluw r Financial Services Page 5 af 10 <br />
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