201108245 - Laserfiche WebLink

Browse

�41108245 Any amounts disburscd by Lcndcr undcr this paragraph shall bccomc an additional dcbt of Botrowcr and bc sccurcd by this Sccurity Instrument. Thcsc amounts shall bcar intcrest from thc date of disburscmcnt, at thc Notc ratc, and at thc option of Lcnder, shall bc immcdiatcly duc and payablc. Borrower shall promptly discharge any lien which has priority over this Security Instrument uuless Bonower (a) agrees in writing to the payment of the obligation seci�red by the lien in a manner acceptahle to Lender; (b} contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enfarcement of the lien; ar(c} secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Sectuity Instniment_ If Lender determines that any part of the Property is subject to a lien which may attain pnority over this Security Instrument, Lender may give Borrower a notice identifyin� the lien. Bonower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of natice. 8. Fees. Lender may collecl fees and charges authorized by the Secretary. 9, Grounds for Acceleration of Debt. (a) DefaUlt. Lender may, except as limited by r i��ted by Yhe Secretary, in the case af payment defaults, require iinmediate payinent in full of all sums secured by this Security Instruinent if: (i) Bortower defaults by failing to pay in full any lnotithly payment required by this Security Iustrument prior to or on tl�e due date of t7ie next monthly payment, or (ii) Borrower defauits by failing, for a period of t�hirty days, to perfonn any other obligations contained in this Security Instnune�nt � (b) Sale Without Credit Approval. Lender shall if permitted by applicable law (including Section 341(d) of the Garn-St. Uermain Depository Institurions Act of 1982, 12 U.S.G 1701j-3(d)) and with the prior approval of the Secretary, require iuunediate payment in full of all sums secured by this Security Instrument if: (i) All or part of the Property, or a beneficial interest in a trust owning all o,r part of the Property, is sold or otherwise transferred (other lhan by devise or descenl), and (ii) The Property is not occupied by the purchaser or grantee as his or her principal residence, or the purchascr or grantcc docs so occupy thc Property but his ar hcr crcdit has not bccn approvcd in accordancc with thc rcyuircments of thc Sccretary. (C) NO Waiver, If circumstanccs occur that would permit Lcnder to requirc immcdiatc �aymcnt in full, but Lender does not require such payments, Lender does not waive its rights with respect to subsequent events. (d) Regulationsof HUD Seeretary. In many circumstances regulations issued by the Secretary will lirnit Lender's rights, in the case of paynlent defaults, to require iinmediafe payinent in full and foreclose if not paid. This Security Instn�ment does not authorize acceler-ation or foreclosure if not pennitted by regulations of the Secretary_ (e) Mortgage Not Insured.Bonower agrees that if this Security Instrument and the Note are not determined to be eligible tor insurance under the National Housing Act within 60 days from the date hereot; Lender may, al its optiun, require immediale paymenl in full ot all sums 5ecured by lhis SecuriLy InStrumenL A wrilten stalement of any authori�ed agenl of lhe Secretary dated tiuhsec�uenl Lo b0 days from lhe daLe hereof, declining lo insure thiti Securily Insiru7nenl and lhe Nole, nhall be deemed cooclusive proof of �uch ineligibiiify. Notwithstanding the foregoing, this option rnay not be FHA Deed of TrusY-NE 4 VMP � VMP4R(NE) (9105).00 Woltere Kluwer Financial Services Page 5 of 10