Sample Document. Intended as reference only
Your actual closing documents will vary according to the lending institution
Page
this
Security Instrument but does not execute the Note (a "co-signer"): (a)
is co-signing this Security Instrument only to mortgage, grant and convey the
co-signer's interest 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 can agree
to extend, modify , forbear or make any accommodations with regard to the terms
of this Security Instrument or the Note without the co-signer's consent.
Subject
to the provisions of Section 18, any Successor in Interest of Borrower who
assumes Borrower's obligations under this Security Instrument in writing, and is
approved by Lender, shall obtain all of Borrower's rights and benefits under
this Security Instrument. Borrower shall not be released from Borrower's
obligations and liability under this Security Instrument unless Lender agrees to
such release in writing. The covenants and agreements of this Security
Instrument shall bind (except as provided in Section 20) and benefit the
successors and assigns of Lender.
14.
Loan Charges. Lender may charge Borrower fees for services performed in
connection with Borrower's default, for the purpose of protecting Lender's
interest in the Property and rights under this Security Instrument, including,
but not limited to, attorneys' fees, property inspection and valuation fees. In
regard to any other fees, the absence of express authority in this Security
Instrument to charge a specific fee to Borrower shall not be construed as a
prohibition on the charging of such fee. Lender may not charge fees that are
expressly prohibited by this Security Instrument or by Applicable Law.
If
the Loan is subject to a law which sets maximum loan charges, and that law is
finally interpreted so that the interest or other loan charges collected or to
be collected in connection with the Loan exceed the permitted limits, then: (a)
any such loan charge shall be reduced by the amount necessary to reduce the
charge to the permitted limit; and (b) any sums already collected from Borrower
which exceeded permitted limits will be refunded to Borrower. Lender may choose
to make this refund by reducing the principal owed under the Note or by making a
direct payment to Borrower. If a refund reduces principal, the reduction will be
treated as a partial prepayment without any prepayment charge (whether or not a
prepayment charge is provided for under the Note). Borrower's acceptance of any
such refund made by direct payment to Borrower will constitute a waiver of any
right of action Borrower might have arising out of such overcharge.
15.
Notices. All notices given by Borrower or Lender in connection with this
Security Instrument must be in writing. Any notice to Borrower in connection
with this Security Instrument shall be deemed to have been given to Borrower
when mailed by first class mail or when actually delivered to Borrower's notice
address if sent by other means. Notice to anyone Borrower shall constitute
notice to all Borrowers unless Applicable Law expressly requires otherwise. The
notice address shall be the Property Address unless Borrower has designated a
substitute notice address by notice to Lender. Borrower shall promptly notify
Lender of Borrower's change of address. If Lender specifies a procedure for
reporting Borrower's change of address, then Borrower shall only report a change
of address through that specified procedure. There may be only one designated
notice address under this Security Instrument at anyone time. Any notice to
Lender shall be given by delivering it or by mailing it by first class mail to
Lender's address stated herein unless Lender has designated another address by
notice to Borrower. Any notice in connection with this Security Instrument shall
not be deemed to have been given to Lender until actually received by Lender. If
any notice required by this Security Instrument is also required under
Applicable Law, the Applicable Law requirement will satisfy the corresponding
requirement under this Security Instrument.
16. Governing Law; Sever ability; Rules of Construction. Federal law and the law of the jurisdiction in which the Property is located shall govern this Security Instrument. All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision.
As
used in this Security Instrument: (a) words of the masculine gender shall mean
and include corresponding neuter words or words of the feminine gender; (b)
words in the singular shall mean and include the plural and vice versa; and (c)
the word "may" gives sole discretion without any obligation to take
any action.
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OHIO--Single Family--Fannie
Mae/Freddie Mac UNIFORM INSTRUMENT
Form
3036 1/01
Document Systems, Inc. (800)
649-1362
Page 9 of 12
OH30361.MTG
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