89100334 - Laserfiche WebLink

Browse

IN D. UNIFORM SECURITY INST'RUMENTi GOVERNING LAW, SEVERABILITY Uniform Covenant 15 of the Security Instrument is amended to read as follows: 1S. Uaiforw ncwrity Iw ftwttrawt; G9vtfW% Law; SeverabWty. This form of Security Instrument combines uniform covenants for national use and non - uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. 1%6 Security Instrument shall be Soverned by Federal law and the law of the jurisdiction in which the Property is located. 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, and to this end the provisions of this Security Instrument and the Note are declared to be severable. E. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER Uniform Covenant 17 of the Security Instrument is amended to read as follows: 17. Treader of tW FWpMy or a Bewetictat Immst k Be+tr. wmr. if all or any part of the Property or an interest therein is sold or w mfcrted (or if a beneficial interest In Bomtower is sold or transf=,ed and Borrower is not a natural person) without Lender's prior written consent, Lender may, at Lender's option. declare all the stuns secured by this Security Instrument to be immediately due'and payable. However. this option shall not be exercised by Lender if exerese is not authorized by Federal law. Lender may waive the exercise of this option if: (a) Borrower causes to be suMm Wed to Lender information required by Lender to evaluate the intended transferee an if a new loan were being made to the transferee; and (b), Lender reasonably determines that Lender's security will not be impaired by the law assumption and that the risk of the breach of any covenant or agreement in this Security Instrumen is accet ¢Able to Lender. To the extent permitted by applicable law. Lender may charge a reasonable fee as a condition to Lender's consent to the loan assumption. Lender may also to quire the transferee to keep all the promises and agreemeals made in the Note and in this Security Instrument. "If Lender Exercises such option to accelerate. Lender shall mail Borrower notice of acceleration non accordance with paragraph 14 hereof. Such notice shall provide a period of not less than 30 days Rarer the date the notice is maded within which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expira%ion of such period, Lender may, without further notice or demand on Borrower. invoke any remedies permitted by this Security- Instrument." "Notwithstanding a sale or transfer. Borrower will continue to be obligated under the Note and this Security Instrument unless Lender has released Borrower in writing." F. LOAN CBANGES If the loan warred by the Security Instrument 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 caatiection with the loan exceed permitted limits, then: (1) any such loan charge semi be rea by the amount nc=wy to reduce the charge to the permitted limit; and (i) any stuns already collected firom- torrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to matte 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 tecated as a partial prepayment under the Note. l� im ti IN WITNESS WHEREOF, Borrower teas executed this Adjustable Rate Ryder. .� (Sea,) Harold J. Less ,g BORROWER (Seal) BORROWER nV 1� 7 a- 1r (Seal) BORROWER (SIGN ORIGINAL ONLY) i� > C_ : -, A - h CIA 47 CA nV 1� 7 a- 1r