89104981 - Laserfiche WebLink

Browse

�r e i D. &WORM SECURITY INSTRUMENT; GOVERNING LAW; SEVERAEILITY Uniform Covenant 15 of the Security Instrument is amended to read as follows: 15, Uniform security iastrument-, Govendttg Law; Sevembility. This form of Security Instrument combines uniform 4mVemants for national use and non - uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. This Security instrument shall be governed by Federal Iaw,and the law of the jurisdiction in which the Property is [treated. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law.-such conflict shall riot affect other provisions of this Security Instrument or the Note which can be given effect without true conflictir►g provision, and to this end the provisions of this Security instrument and the mote are declared to be severable. E. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTUR"T IN BORROWER Uniform Covenant 17 of the Security Instrument is amended to read as follows: 17. Transfer of The Property or a BetteWal Interest in Borrower. if all or any pan of the Property ar an intem—st tneresn is-saltlior transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is 4ot a natural person) without Lender's prier-,iKritten consent. Lender tray, at Leader'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 Leader if exercise is not authorized by Federal law. Lender may waive the exercise of this option if: (a) Borrower causes to be submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan were being made to the transferee; and (b) Lender reasonably determines that Lender's secu -rity will notci impaired by the loan miumption and•thatthe risk of the breach of any covenant or agreement in this Security Inm -cement is ar= eptabie•to Le -der. To the extent permitted by applicable law. Lender may charge a seasonable fee as a candifion to Lender's consent to the loan assttmptiem. . Lender may also require the transferee to keep all the promise:: and moments made in the Nrt,vv md in this Security Instntmerit. "If Lamer exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in amanfance with paragraph I-•lu reof. Such notice shall provide a period of not less than 30 days from th-- fate the notice is mailed within which Ba rmwer may pay the sums&dared due. If Borrti'dG ar fails to pay such sums prior to the expiration of sbr_h period, Lender may, without further notice or demand on Bc rower, invoke any comedies permitted by this Security instrument." '•'Kcott#standing a sale or transfer, Borrower will contintiv in br: obligated under the Nate and this Security Insttutsz zz unless Lender has released 13.—rrower in writing." F. L[tkN CHANGES If t%e t;� secured by the Security Imimment is subject to a L%v which sets maximum loan. barges, and that law ;t- zlly interpreted so that the intr rant or other loan charges cc-2rected or to be collected in connection with the loan exceed permitted limits. then: (1) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (2) any sums already collected from try iuwer which exceed.1.9ermitted limits will be refunded to Borrower. Lender may choose to make thi, refund by reducing the principal owed under the Note or by making a direct payment to Burrower. If a refund redurr_,F principal. the reduction will he treated as a partial, 1p vpayment under the Note. IN WITNESS WHEREOF. Borrower hasexwYok rbis 4 df datable Rate Rider. c (Seal) c'u i 1 L. McArthur ER G.•c� --o ` _(Seat) K thleen M. McAr- Ur (Seal) BORROWER (SIGN ORIGINAL ONLY) fn ,vim �rJ L. T