89100973 - Laserfiche WebLink

Browse

D. UNIFORM SECURFFV INSTRUMENT, GOVERNING LAW; SEVERABILITY Uniform Covenant 15 of the Security Instrument is amended to read as follows. is. Uniform madly intro mt. Goverd" Lair: Severability. This form of Security Instrument combines uniform covenants for national use and nonuniform covenants with limited %variations by jurisdiction to constitute a uniform security instrument covering real property. This Security Instrument shall be governed 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 BENMCiIAL INTEREST IN BORROWER Uniform Covenant 17 of the Security Instrument is amended to read as follows: 17. Transfer of the Pro/erty or a Beneficial Interest in Borrower. If all or any part of the Property or an interest therein is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender may, at Lender's option, declare all the sums secured by this Security Instrument to be immediately due and payable. However, this option shall not be exercised by Lender if exercise is not authorized by Federal law. Lender may wwia the exercise of this option if: (a) Borrower causes to be submitted to Gender infbr maj�ntt required by Lender to evaluate the intended transrr me as if a new loan were being made to the transferee; and (b) Lender reasonably d6=mft a that Lender's security will not be impaired by the loan assumption and that the risk of the breach of any covenant or agr_ement in tGi.Secure_, ftmzament is acceptable to LwAcT. To the ex*.ent permitted by applicable law, Leader may charge;; rms-=J le fee as a coaditicn to Lendees consent to the loan assumption. Lender may aksa require the transferee to in the Nozeaad in this Security lnst*t mmt. "If Leer exercises such option to accelerate, S- :rouei notice of acceleration in acecrd'arae with paragraph 14 hereof. Such notia�,Oau' provide a period of not less than 34;;mys i` -ram the date the nozfcr s mailed within which Ronewer may pay the sums decli—ar!d NY a per fails to (Ray such sums prior to the er.iration of such period, 1L.e2der may. without furl notice or demand on Borrower, ., Ift an3 x- tellies permitted by this Security Instrument." s.3:astanding asale or transfer, Borrower will continue to be obligated under the Noueand this Security Instrument unless Lender has ! � twed zc c-^ower in writing.,' F- ''hGAN.CHANGES LC the loan secured by the Security Lnstrument is subject to a. k w ?.Itich sets maxjmo:crc 16ea dtarges, and that law is finally interpreted so t.Aa the interest or other loan charges collected or to be collected in omhection with the ioan taxed permitted limits, then: (1) any such It= .large shall be reduced by the amount necessary to r• lace the charge to the peraritj W "�?Sr� and (2) any stints already collected from borrower %hich exceeded permitted limits will be refunded to Bar -ower. Lender may choo'n 137 rxa � tiffs refund t�, t:abrccing the principal owed under the Note or by making a direct payment to Borrower. Iif a refund reduces principal, the r�uctien i. bi vtr t:eazed as a partial prepayment under the Note. IN WITNESS WHEREOF. Borrower has etecated this Adjustable Rate Rider. Ames A. SchwadereVORRO VER LC4 /,1'4�4 Z4A/J� BORROWER Marcia ;,.., Schuaderer (Seal) BORROWER (SIGN ORIGINAL ONLY) Mile, r, _J__ a cn ^1 r:—�i n J 6 O n t J to _ CJ • � � 6 i i j , . 4J 1 r u� +t Mile, r, _J__