200206076 - Laserfiche WebLink

Browse

200206076 (F) Notice of Changes The Note Holder will deliver or nail to me a notice of any changes in my interest rate and the amount of my monthly payment before the effective date of any change. The notice will include information required by law to he given to me and also the title and telephone number of a person who will answer any question I may have regarding the notice. B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER Section IS of the Security Instrument is amended to read as follows: 'Transfer of the Property or a Beneficial Interest in &mcmwer. As used in this Section IN, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for decd contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Beat owe, at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all .sums secured by this Security Instrument_ However, this option shall not he exercised by Lender if such exercise is prohibited by Applicable Law. Lender also shall not exercise 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 transform; and (b) Lender reasonably determines that Lender's security will not be impaired by the loan assumption and that the risk of a breach of any covenant or agreement in this Security Instrument is acceptable to Lender. To the extent permited by Applicable Law, Leander may charge a reasonable fee as a condition to Lender's consent to the loan assumption. Lender may also require the transferee to sign an assumption agreement that is acceptable to Lender and that obligates the transferee to keep all the pronnises and agreements made in the Note and in this Security Instrument. Borrowe will continue to be obligated wider the Note and this Security Instrument unless Lender releases Borrower in writing. If Lender exorcises the option to require immediate payment in full, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Burrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiation of this period, fender may invoke any remedies permitted by this Security Instrument without further notice or dernand on Borrower. 229143 Initials:� l" � 022R (ODOR) Pose 3 of 4 m Form 3111 1101