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201803725
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Last modified
12/9/2019 6:31:03 PM
Creation date
6/12/2018 2:59:57 PM
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DEEDS
Inst Number
201803725
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Section 18, "Interest in the Property" means any legal or beneficial interest in the <br />Property, including, but not limited to, those beneficial interests transferred in a bond for <br />deed, contract for deed, installment sales contract or escrow agreement, the intent of <br />which is the transfer of title by Borrower at a future date to a purchaser. <br />If all or any part of the Property or any Interest in the Property is sold or <br />transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is <br />sold or transferred) without Lender's prior written consent, Lender may require immediate <br />payment in full of all sums secured by this Security Instrument. However, this option shall <br />not be exercised by Lender if such exercise is prohibited by Applicable Law. <br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. <br />The notice shall provide a period of not less than 30 days from the date the notice is <br />given in accordance with Section 15 within which Borrower must pay all sums secured by <br />this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this <br />period, Lender may invoke any remedies permitted by this Security Instrument without <br />further notice or demand on Borrower. <br />2. When Borrower's initial fixed interest rate changes to an adjustable interest rate under <br />the terms stated in Section A above, Uniform Covenant 18 of the Security Instrument described in Section <br />B1 above shall then cease to be in effect, and the provisions of Uniform Covenant 18 of the Security <br />Instrument shall be amended to read as follows: <br />Transfer of the Property or a Beneficial Interest in Borrower. As used in this <br />Section 18, "Interest in the Property" means any legal or beneficial interest in the <br />Property, including, but not limited to, those beneficial interests transferred in a bond for <br />deed, contract for deed, installment sales contract or escrow agreement, the intent of <br />which is the transfer of title by Borrower at a future date to a purchaser. <br />If all or any part of the Property or any Interest in the Property is sold or <br />transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is <br />sold or transferred) without Lender's prior written consent, Lender may require immediate <br />payment in full of all sums secured by this Security Instrument. However, this option shall <br />not be exercised by Lender if such exercise is prohibited by Applicable Law. Lender also <br />shall not exercise this option if: (a) Borrower causes to be submitted to Lender <br />information required by Lender to evaluate the intended transferee as if a new loan were <br />being made to the transferee; and (b) Lender reasonably determines that Lender's <br />security will not be impaired by the loan assumption and that the risk of a breach of any <br />covenant or agreement in this Security Instrument is acceptable to Lender. <br />To the extent permitted by Applicable Law, Lender may charge a reasonable fee <br />as a condition to Lender's consent to the loan assumption. Lender also may require the <br />transferee to sign an assumption agreement that is acceptable to Lender and that <br />obligates the transferee to keep all the promises and agreements made in the Note and <br />in this Security Instrument. Borrower will continue to be obligated under the Note and this <br />Security Instrument unless Lender releases Borrower in writing. <br />If Lender exercises the option to require immediate payment in full, Lender shall <br />give Borrower notice of acceleration. The notice shall provide a period of not less than 30 <br />days from the date the notice is given in accordance with Section 15 within which <br />111111111 111 11111 <br />* 7 4 8 1 3 0 0 8 0* <br />MULTISTATE FIXED /ADJUSTABLE RATE RIDER —ONE -YEAR TREASURY <br />INDEX - Single Fami y -FNMA Uniform Instrument <br />Mortgage Cadence Document Center O 3212 11/17 <br />i <br />1 <br />201843.11,24: 5 <br />11 A <br />D J R T R DR* <br />Form 31821/01 rev. 6/16) <br />(Page 3 of 4) <br />
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