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1/25/2007 11:24:48 AM
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1/25/2007 11:24:43 AM
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DEEDS
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200700603
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<br />200700603 <br /> <br />0157904012 <br /> <br />B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER <br />Section 18 of the Security Instrument is amended to read as follows: <br /> <br />This space intentionally left blank <br /> <br />Transfer of the Property or a Beneficial Interest in Borrower. <br /> <br />As used in 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 transferred in a bond <br />for deed, contract for deed, installment sales contract or escrow agreement, the intent of <br />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 (or if <br />Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) <br />without Lender's prior written consent, lender may require immediate payment in full of all <br />sums secured by this Security Instrument. However, this option shall not be exercised by <br />Lender if such 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 by Lender to <br />evaluate the intended transferee as if a new loan were being made to the transferee; and <br />(b) Lender reasonably determines that Lender's security will not be impaired by the loan <br />assumption and that the risk of a breach of any covenant or agreement in this Security <br />Instrument is acceptable to 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 may also require the <br />transferee to sign an assumption agreement that is acceptable to lender and that obligates <br />the transferee to keep all the promises and agreements made in the Note and in this <br />Security Instrument. Borrower will continue to be obligated under the Note and this Security <br />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 days <br />from the date the notice is given in accordance with Section 15 within which Borrower must <br />pay 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 Security <br />Instrument without further notice or demand on Borrower. <br /> <br />page 3 <br /> <br />I0036E <br /> <br />REV. 06/09/06 <br />
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