Common use of Xxxxxxxx’s Right to Reinstate the Extension of Credit after Acceleration Clause in Contracts

Xxxxxxxx’s Right to Reinstate the Extension of Credit after Acceleration. If Borrower meets certain conditions, Borrower will have the right to reinstate the Extension of Credit and have enforcement of this Security Instrument discontinued at any time up to the later of (a) five days before any foreclosure sale of the Property, or (b) such other period as Applicable Law might specify for the termination of Borrower’s right to reinstate. This right to reinstate will not apply in the case of acceleration under Section 17. To reinstate the Extension of Credit, Borrower must satisfy all of the following conditions: (aa) pay Lender all sums that then would be due under this Security Instrument and the Note as if no acceleration had occurred; (bb) cure any Default of any other covenants or agreements under this Security Instrument or the Note; (cc) pay all expenses, allowed by Section 50(a)(6), Article XVI of the Texas Constitution, incurred in enforcing this Security Instrument or the Note, including, but not limited to: (i) reasonable attorneys’ fees and costs; (ii) property inspection and valuation fees; and (iii) other fees incurred to protect Xxxxxx’s interest in the Property and/or rights under this Security Instrument or the Note; and (dd) take such action as Lender may reasonably require to assure that Xxxxxx’s interest in the Property and/or rights under this Security Instrument or the Note, and Borrower’s obligation to pay the sums secured by this Security Instrument or the Note, will continue unchanged.