Laserfiche WebLink
201107730 <br /> jeopardized under state law (including but not limited to sjtuations where the amount secured <br /> by the Security Instrument equals or exceeds the maximum principal amount stated or the <br /> maximum period under which loan advances retain the same lien priority initially granted to <br /> loan advances has expired) and state law permits the original lien status to be maintained for <br /> future loan advances through the execution and recordation of one or more documents, then <br /> Lender shall obtain title evidence at Borrower's expense. If the title evidence indicates that the <br /> property is not encumbered by any liens (except this Security Instrument,the Second Security <br /> Instrument described in Paragraph 13(a) and any subordinate liens that the Lender <br /> determines will also be subordinate to any future loan advances), Lender shall request the <br /> Borrower to execute any documents necessary to protect the lien status of future loan <br /> advances. Borrower agrees to execute such documents. If state law does not permit the <br /> original lien status to be extended to future loan advances, Borrower will be deemed to have <br /> failed to have performed an obligation underthis Security Instrument. <br /> (b) Tax Deferral Programs. Borrower shall not participate in a real estate tax deferral program, if <br /> any liens created 6y the tax deferral are not subordinate to this Security Instrument. <br /> (c) Prior Liens. Borrower shall promptly discharge any lien which has priority over this Security <br /> Instrument unless Borrower: (a) agrees 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 Property; or(c) secures from <br /> the holder of the lien an agreement satisfactory to Lender su6ordinating 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 shall 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 Security Instrument. In order to secure paymenfs whicYi the Secretary may make to <br /> or on behalf of Borrower pursuant to Section 255(i)(1)(A) of the National Housing Act 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 included 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 Leniier for all payments made by the <br /> Secretary. ' <br /> If the circumstances described in (i) or(ii) occur, then all payments by the Secretary, including <br /> interest on 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.Where there is no assignment or reimbursement as described in (b)(i) or <br /> (ii)and the Secretary makes payments to Borrower,then Borrower shall not: <br /> �� <br /> I IIIII IIIII I IIIIII IIIIIIIIIIIII <br /> 3000025464GEN302 : <br /> Finale Oocument Services� 0228 07/07 (s of 1 t) Nebraska Deed of Tmst HECM ADJUSTABLE RATE-MERS <br />