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200314437
<br />20. UNIFORM SECURITY INSTRUMENT; GOVERNING LAW; SEVERABILITY.
<br />This form of Security Instrument combines uniform covenants for national use and non - uniform
<br />covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real
<br />property. In the event that any provision or clause of this Security Instrument or the Note or any other
<br />Loan Document conflicts with applicable law, such conflict shall not affect the other provisions of this
<br />Security Instrument or the Note or any other Loan Document which can be given effect without the
<br />conflicting provision, and to this end the provisions of the Security Instrument and the Note and the Loan
<br />Documents are declared to be severable. This Security Instrument cannot be waived, changed,
<br />discharged or terminated orally, but only by an instrument in writing signed by the party against whom
<br />enforcement of any waiver, change, discharge or termination is sought. This Security Instrument shall be
<br />governed by and construed in accordance with the Laws of the State in which the Property is located,
<br />except to the extent that Federal laws or the rules and regulations of the Office of Thrift Supervision, or
<br />its successor, preempt the laws of the State in which the Property is located, in which case Lender shall
<br />be entitled to such Federal rights and remedies without regard to conflicting limitation imposed by State
<br />law.
<br />21. BORROWER'S COPY. Borrower acknowledges receipt of a conformed and completed
<br />copy of the Note and of this Security Instrument at the time of execution or after recordation hereof.
<br />22. TRANSFER OF THE PROPERTY; ASSUMPTION. If the Borrower or any successor in
<br />interest to Borrower or the Property described in this Security Instrument should, without the prior
<br />written consent of the Lender, assign the Note or sell, convey, transfer, or alienate the Property, or any
<br />part thereof, or any interest therein, or be divested of its title or any interest therein in any manner,
<br />whether voluntary or involuntary, by contractual arrangement or operation of law, or if the Borrower or
<br />any successor in interest to Borrower or the Property is a corporation, partnership, limited liability
<br />company, or joint venture, and more than fifty percent (50 %) of the equity ownership of such
<br />corporation, partnership, limited liability company, or joint venture is, without the prior written consent
<br />of Lender, sold, conveyed, transferred or alienated, either voluntarily or involuntarily, by contractual
<br />arrangement or operation of law, then the Lender shall have the right at its sole option to declare any and
<br />all indebtedness due hereunder, or any other obligation secured by this Security Instrument, immediately
<br />due and payable.
<br />Not less than thirty (30) days prior to any such sale or other transfer, Borrower shall notify
<br />Lender in writing of the proposed sale or transfer and shall provide Lender with such information
<br />concerning the terms and conditions of the sale or transfer and the creditworthiness and financial
<br />condition of the proposed purchaser or transferee as Lender may require. Lender may withhold its
<br />consent to any such sale or other transfer in Lender's sole discretion.
<br />A consent and waiver of Lender's option to accelerate shall be subject to (a) the credit of the
<br />purchaser or transferee being satisfactory to the Lender; (b) an assumption fee of two percent (2 %) of the
<br />then outstanding Principal balance being paid to Lender; (c) assumption of full and unconditional
<br />liability on the indebtedness by all purchasers or transferees of the Property on a joint and several basis;
<br />and (d) any other requirements reasonably necessary to protect Lender's interest in the Property. Any
<br />agreement regarding Lender's consent and waiver of its option to accelerate must be in writing and
<br />reached prior to the date of the sale or transfer. Waiver of any right granted to the Lender by the
<br />provisions of this paragraph as to one transaction, event or occurrence shall not be deemed to be a waiver
<br />of any right as to any subsequent transaction, event or occurrence.
<br />The sale or transfer of the Property subject to this Security Instrument or the assignment of the
<br />Note shall not operate to release the Borrower or any guarantor of the Note without the express written
<br />agreement of Lender, which may be withheld in Lender's sole discretion.
<br />If the ownership of the Property subject to this Security Instrument becomes vested in a
<br />person(s), corporation, partnership, limited liability company, or joint venture other than the Borrower,
<br />the Lender may, without notice to the Borrower, deal with such successor or successors in interest with
<br />reference to the Security Instrument and the debt evidenced hereby secured as with the Borrower, and
<br />may forebear to sue, alter time for payment of the debt, change the Interest rate and/or payments of the
<br />debt hereby secured, without discharging or in any way affecting the liability of the Borrower hereunder
<br />or upon the debt secured.
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