88104232 - Laserfiche WebLink

Browse

D. UNIFORM SECURITY INSTRUMENT; GOVERNING LAW; SEVERABILITY Uniform Covenant 15 of the Security Instrument is amended to read as follows: 15, Uniform seeurlty IDlItru_al; Govemlaa Law; SennbUIly. This form of Security Instrument combines uniform covenants for national use and lion-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real properly. 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 conflicts with applicable law, such conflicl shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision, and 10 this end the provisions of this Security Instrument and the Noie are declared 10 be severable, E. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER Uniform Covenant 17 of Ihe Security ltultrument is amended to read as follows: 17. TnlufEl' of lbe Properly or a Beaefldal lalereslln Borrower. I f all or any part of the Property or an interest therein is sold or transferred (or if a beneficial interest In Borrower is sold or transferred and Borrower is nOl a natural person) without Lender's prior written 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 nol aUlhorized by Federal law . Lender may waive the exercise of this option if: (a) Borrower causes to be submitted 10 Lender information requircd by Lender to evaluate Ihe intended Irallsferee as if II new loan were being made 10 the transferee: and (h) Lender reasonably determines that Lender's security will not be impaired by Ihe loan IIssumption IInd that the risk of the breach of any covenant or agreement in this Security Instrument is acceptable 10 Lender. To the extent permitted by applicable law, Lender may charge a reasonable fee as a condilion 10 Lender's consent to the loan assumption. Lender may also require Ihe transferee to keep alllhe promises and agreemcnts maJe in the Note 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 date the notice is mailed within which Borrower may pay th~ sums declared due. If Borrower fails to pay such sums prior 10 the expiralion of such period. Lender mllY, without further notice or demand on Borrower, invoke any remedies permilted by this Security Instrument." "Notwithstanding a sale or transfer. Borrower will conlinue to be obligated under the NOle and this Security Instrument uoless Lender has released Borrower in writing, " F, WAN CHANGES If the loan secured by the Security Instrument is subject 10 a law which sets maximum loan charges, and that law is finally interpreted so that the interesl or other loan charges collected or 10 be collected in connection wilh the loan exceed permitted limits, then: (I) any such loan charlle shall be reduced by Ihe amount necessary to reduce the charge to the permined limit; and (2) any sums already collected from borrower which exceeded permined limits will be refunded 10 Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal. the reduction will be treated olS a partial prepayment under the NOle. IN WITNESS WHEREOF. Borrower has eJlKUled this Adjustable Rate Rider. '. .,) /.' --~ " \ --.?-- ~ ) '-c,Y<2e~~ 4---d't?~' SaIl y J. 1 en BORROWER (Seal) (Seal) BORROWER (Seall BORROWER (SIGN ORIGINAL ONL VI . " c.>;;> , If> , = -< CO ... ~ CO ~ .- -z E' € , 1 c:;, ,.= I ~ '" -II [ I-' . '" 9 -n J~~~ f =- -, :". '" \ ~. ... . I w i , ~ , , -- ,II N , "I ~