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<br />200609838 <br /> <br />B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER <br />Uniform Covenant 18 of the Security Instrument is amended to read as follows: <br />(1) WHEN MY INITIAL FIXED INTEREST RATE CHANGES TO AN ADJUSTABLE <br />INTEREST RATE UNDER THE TERMS STATED IN SECTION 4 ABOVE, UNIFORM <br />COVENANT 18 OF THE SECURITY INSTRUMENT DESCRIBED IN SECTION B(2) <br />BELOW SHALL THEN CEASE TO BE IN EFFECT, AND UNIFORM COVENANT 18 OF <br />THE SECURITY INSTRUMENT SHALL INSTEAD BE DESCRIBED AS FOLLOWS: <br /> <br />Transfer of the Property or a Beneficial Interest in Borrower. As used in <br />this Section 18, "Interest in the Property" means any legal or beneficial interest <br />in the Property, including, but not limited to, those beneficial interests <br />transferred in a bond for deed, contract for deed, installment sales contract or <br />escrow agreement, the intent of which is the transfer of the title by Borrower <br />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 a Borrower is not a natural person and a beneficial interest in <br />Borrower is sold or transferred) without Lender's prior written consent, Lender <br />may require immediate payment in full of all sums secured by this Security <br />Instrument However, this option shall not be exercised by Lender if such <br />exercise is prohibited by Applicable Law. Lender also shall not exercise this <br />option if: (a) Borrower causes to be submitted to Lender information required <br />by Lender to evaluate the intended transferee as if a new loan were being made <br />to the transferee; and (b) Lender reasonably determines that Lender's security <br />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 <br />fee as a condition to Lender's consent to the loan assumption. Lender also may <br />require the transferee to sign an assumption agreement that is acceptable to <br />Lender and that obligates the transferee to keep all the promises and <br />agreements made in the Note and in this Security Instrument. Borrower will <br />continue to be obligated under the Note and this Security Instrument unless <br />Lender releases Borrower in writing. <br /> <br />BS899R (0402) <br /> <br />Page 4 of 6 <br /> <br />ry ~ <br /> <br /> <br />MGNR 10/31/06 4:45 PM 6492923534 ~ <br />