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200003298
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Last modified
10/13/2011 12:35:31 PM
Creation date
10/20/2005 8:16:24 PM
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DEEDS
Inst Number
200003298
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200003298 <br />B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER <br />1. UNTIL BORROWER'S INITIAL FIXED INTEREST RATE CHANGES TO AN <br />ADJUSTABLE INTEREST RATE UNDER THE TERMS STATED IN SECTION A ABOVE, <br />UNIFORM COVENANT 17 OF THE SECURITY INSTRUMENT SHALL BE IN EFFECT AS <br />FOLLOWS: <br />Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the <br />Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold <br />or transferred and Borrower is not a natural person) without Lender's prior written consent, <br />Lender may, at its option, require immediate payment in full of all sums secured by this Security <br />Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by <br />federal law as of the date of this Security Instrument. <br />If Lender exercises this option, Lender shall give Borrower nd'tt* a of acceleration. The <br />notice shall provide a period of not less than 30 days from the date the notice is delivered or <br />mailed within which Borrower must pay all sums secured by this Security Instrument. If <br />Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any <br />remedies permitted by this Security Instrument without further notice or demand on Borrower. <br />2. WHEN BORROWER'S INITIAL FIXED INTEREST RATE CHANGES TO AN <br />ADJUSTABLE INTEREST RATE UNDER THE TERMS STATED IN SECTION A ABOVE, <br />UNIFORM COVENANT 17 OF THE SECURITY INSTRUMENT DESCRIBED IN SECTION BI <br />ABOVE SHALL THEN CEASE TO BE IN EFFECT, AND THE PROVISIONS OF UNIFORM <br />COVENANT 17 OF THE SECURITY INSTRUMENT SHALL BE AMENDED TO READ AS <br />FOLLOWS: <br />Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the <br />Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold <br />or transferred and Borrower is not a natural person) without Lender's prior written consent, <br />Lender may, at its option, require immediate payment in full of all sums secured by this Security <br />Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by <br />federal law as of the date of this Security Instrument. Lender also shall not exercise this option <br />if: (a) Borrower causes to be submitted to Lender information required by Lender to evaluate the <br />intended transferee as if a new loan were being made to the transferee; and (b) Lender <br />reasonably determines that Lender's security will not be impaired by the loan assumption and <br />that the risk of a breach of any covenant or agreement in this Security Instrument is acceptable to <br />Lender. <br />Initials: <br />843U (9705) Page 3 of 4 Form 3182 5/94 <br />
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