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r D, UNIFORM SECURITY INSTRUMENT; GOVERNING LAW; SEVERABILITY Uniform Covenant IS oflhe Security Instrument Is amended to read:L!l follows: 15. Uniform IeC1Irtlr laatramrnl; Go,emInl La,,; SewenblUl,. This form of Security Instrument combines uniform covenants for national use and nonaunirorm covenants wllh IImJlcd variations by jurisdiction 10 conslllulc II uniform security instrument covering real property. This Security Instrument shall be governed by Federal JkW and the law of the jurisdiction in which the Properly Is located. In the event that ony provision or clause of this Security Instrument or the Note conmcts with applicable law, such conflict shall not affect other provisions DC this Security Instrument or the Note which can be given erectl without the connh:ting provision, and to this end the provisions of (WS Security Instrument and the Notc are declared to be severable. E. TRANSFER OF THE PROPERTY OP. A BENEFICIAL INTEREST IN BORROWER Uniform Covenant I? of the Security Instrument is amended to read as fonows: 17. Tn.mfer of the Property or a Btnefidallb1erulln Borrower. If all or any pan of the Property or an interest therein is sold or transferred (or if Ii beneficial interest in Borrower Ls sold or transferred and Borrower is not a natural per.')on) without L.ender's prior written consent, Lender may. at Lender's option, declare all the sums secured by this Security Instrument 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 submittal to Lender Information required by Lender to evaluate the intended transferee as if a new loan were being made to the transferee; and (b) Lender reasonably determines that lender's security will not be impaired by the loan assumption and that thi: risk of the breaeh of any covenant or agreement in this Security Instrumem is acceptable to Lender. To the extent permitted by applicable law, Lender may charge a reasonable fee as a condition to lender's consent to the loan assumption. Lender may also require the transferee to keep all the promises and agreements made in the Nole and in this Security Instrument. "If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within which Borrower may pay the 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 permitted by this Security Inslrument. ,. "Notwithstanding a sale or transfer, Borrower will continue to be obligated under the Note and this Security Instrument unless Lender has released Borrower in writing." F. LOAN CHA.NGFS If the loan secured by the Security Instrument is subject to a law which sets ma:dmum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the loan exceed pcnniued limits, then: (1) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit: and (2) any sums already collected from borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this n:fund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduCC's principal, the reduction will be treated as a partial prepayment under the Note. IN WITNESS WHEREOF, Borrower bas executed tbIs Adjustable Rate Rider. ~\J~ ~ ~~ &~" , ~t ~~ ,"-' ;::.,; ~ ~~~t ~~ a~, JS~~~ Dennis A. ShephercBORRO ~~ \-.~~~~ Esther L. ShepherdlORRO R ~; (Seal) (Seal) BORROWER (SIGN ORIGINAL ONLY) ~~ " ~ ,., ~ r' :> ~'-'\. ~ ~o ::> . 'ft - t r.D nC1> T gE~i~ ~ ::jrn~lfg =- ~~g.\ ~I ~ :<: rn . R l=;U ~ i "" ". ~~ ~ "'" "'" <=> ...... .... =" ::x = en c.n c.n o a .....~