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88- 104146 D. UNIFORM SECURITY INSTRUMENT; GOVERNING LAW; SEVERABILITY Uniform Covenant I ~ of the.8ccurity Instrument is amended to read as follows: 15. Ulllform _rlty IlIItrumrnt; Gonmlnl (.aw; SeverabWty, This fOIl1\ of Security Instrument combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. This Security Instrument shall be governed by Federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conllicts with applicable law. such conllict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conllicting provision, and to this end the provisions of this Security Instrument and the Note are declared to be severable. E, TRANSnR OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER Uniform Covenant) 7 of the Security Instrument is amended to read as follows: 17. Tnuufer of tile Property or a Beaendallnteftllt In Borrower. If all or any part of the Property or an inlercst therein is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natura) person) without Lender's prior wrillen consent, Lender may, at Lender's option, declare all the sums secured by this Security Instrumenl to be immediately due and payable. However, this option shall not be exercised by Lender if exercise is not authorized by Federal law, Lender may waive the exercise of this option if: (a) Borrower causes to be submilled to Lender information required by Lender 10 evaluate the intended transferee as if a new loan were being made to the transferee; and (b) Lender reasonably determines thaI Lender's security will not be impaired by the loan assumption and that the risk of the breach of any covenant or agreement in this Security Inslrumenl is acceptable 10 Lender. To the extent permilled by applicable law, Lender may charge a reasonable fee as a condition 10 Lender's consent to the loan assumption. lender may also require the transferee to keep all the promises and agreements made in I he NOle and in this Security Instrument. "If Lender exercises such option to accelerate. Lender shall mail Borrower nOlice of acceleration in accordance with paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from Ihe dale Ihe notice is mailed within which Borrower may pay Ihe sums declared due, If Borrower fails to pay such sums prior to the expiration of such period. Lender may, without further notice or demand on Borrower, invoke any remedies pcrmilled by Ihis Security Instrument. ,. "Notwithstanding a sale or transfer, Borrower will continue 10 be obligaled under Ihe Note and Ihis Security Instrument unless Lender has released Borrower in writing." F. LOAN CHANGES If Ihe loan secured by Ihe Security Instrument is subject 10 a law which sels maximum loan chat ges, and thai law is finally interpreted so that the interest or olher loan charges collected or to be collecled in connection with Ihe loan exceed permitted limits. Ihen: (I) any such loan charge shall be reduced by the amount nc:ccssary to reduce the charge to the permilled limit; and (2) any sums already collCCled from borrower which exceeded permilled limits will be refunded 10 Borrower. Lender may choose 10 make Ihis refund by reducing Ihe principal owed under the No:e or by making a direct paymenlto Borrower. If a refund reduces principal. the reduction will be treated as a partial prepayment under the Note. IN WITNE..'.S WUEREO.', Borrow" h.. necuted this Adjultable Rale Rider. James (Seal) 1 ~W~J~U BORROWER (Seal) Lauren F, BORROWER (SIGN ORIGINAL ONl V) (Seal)