For cosmetic and clarification purposes, the following changes will be made to DocuTech’s standard Texas Renewal and Extension Exhibits:
1. A clause will be inserted into the first sentence of the second paragraph, explicitly stating that the liens being renewed are not extinguished. The sentence will now be as follows (italics inserted for identifying the new clause):
“Lender is expressly subrogated to all rights, liens, equities and remedies securing the original holder(s) of the above debt(s) and the original lien(s) securing the same are not extinguished, but are renewed and extended to the date of maturity of the Note secured by the Security Instrument in the renewal and extension of the indebtedness.”
2. The third paragraph (which is redundant) will be replaced in its entirety with the following language:
“In the event that any portion of the sums intended to be secured by the Security Instrument cannot be lawfully secured thereby, payments for reducing such sums shall be applied first to those portions not secured by the Security Instrument.”
These changes will take effect on October 24, 2012. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.
October 16, 2012