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200510790
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200510790
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Last modified
10/31/2005 2:53:01 PM
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10/31/2005 2:53:00 PM
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DEEDS
Inst Number
200510790
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<br />200510790 <br /> <br />notice shall provide a period of not less than 30 days from the date the notice is <br />mailed or delivered within which Borrower must pay all sums secured by this Security <br />Instrument. If Borrower fails to pay these sums prior to the expiration of this period, <br />lender may invoke any remedies permitted by this Security Instrument without further <br />notice or demand on Borrower. <br /> <br />(2) When my initial fixed interest rate changes to an adjustable interest rate under <br />the terms stated in Section A above, Section B( 1) above shall then cease to be in effect, and <br />the following shall apply: <br /> <br />Transfer of the Property or a Beneficial Interest in Borrower. As used in this <br />Section, "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 <br />for deed, contract for deed, installment sales contract or escrow agreement, the intent <br />of which is the transfer of title by Borrower at a future date to a purchaser. <br /> <br />If all or any part of the Property or any Interest in the Property is sold or transferred <br />(or if Borrower is not a natural person and a beneficial interest in Borrower is sold or <br />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 <br />shall not be exercised by lender if such exercise is prohibited by applicable law. <br />lender also shall not exercise this option if: (a) Borrower causes to be submitted to <br />lender information required by lender to evaluate the intended transferee as if a new <br />loan were being made to the transferee; and (b) lender reasonably determines that <br />lender's security will not be impaired by the loan assumption and that the risk of a <br />breach of any covenant or agreement in this Security Instrument is acceptable to <br />lender. <br /> <br />To the extent permitted by applicable law, lender may charge a reasonable fee as a <br />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 <br />this Security Instrument unless lender releases Borrower in writing. <br /> <br />If Lender exercises the option to require immediate payment in full, lender shall give <br />Borrower notice of acceleration. The notice shall provide a period of not less than 30 <br />days from the date the notice is mailed or delivered within which Borrower must pay <br />all sums secured by this Security Instrument. If Borrower fails to pay these sums prior <br />to the expiration of this period, lender may invoke any remedies permitted by this <br />Security Instrument without further notice or demand on Borrower. <br /> <br />FIXED/ADJUSTABLE RATE BALLOON RIDER <br />WSJ SIX MONm LmOR <br />He 54205.6 <br />DDS-BR2 <br /> <br />(4 of 5) <br />
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