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200706773
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200706773
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Last modified
8/8/2007 4:23:57 PM
Creation date
8/8/2007 4:11:18 PM
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DEEDS
Inst Number
200706773
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<br />200706773 <br /> <br />(D) Llmlb on Interest Rate Chan.. <br /> <br />The interest rate I am required to pay at the first Change Date will not be greater than 10.99% or less than <br />7.990.41. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than <br />one percentage points (1.0%) from the rate of intercat I have been paying for the preceding six months. My interest <br />rate will never be greater than 14.99%. <br /> <br />(E) EfI'edIve Date of Chan.. <br /> <br />My new interest rate will become effective on each Change Date. I will pay the amount of my new <br />mOll1bIy payment beginning on the first monthly payment date after the Chanp Date until the amount of my <br />monthly payment chanps again. <br /> <br />(F) Notlee of Chanlel <br />The Note Holder will deliver or mail to me a notice of any changes in my intcrelt rate and the amount of <br />my monthly payment before the effective date of any change. The notice will include information required by law <br />to be given to me and also the title and telephone number of a person who willlDlWer any question I may have <br />regarding the notice. <br /> <br />B. ntANSRR OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER <br /> <br />Uniform Covenant 18 of the Security Instrument is amended to read III follows: <br /> <br />Trausfer of the Property or a Belleftdal Interest In Borrower. ftd used in this Section <br />18, "Interest in the Property" means any legal or beneficial interest in the Property, including. but <br />not limited to, those beneficial interesta traftaferred in a bond for deed, contract for deed, <br />installment ..lea contract or escrow agrcelMht, the intent of which is the transfer of title by <br />Borrower at a fbture date to a purchaser. <br /> <br />If all or any part of the Property or any Interest in the Property is sold or tranafmed <br />(or ifBonower is not a natural penon and a beneficial interest in Bonower is sold or transferred) <br />without Lender's prior written consent, Lender ftlay require immediate payment in ftlll of all sums <br />secured by this Security lIIItIUtnenl However, this option shall not be exercised by Lender if such <br />exercise is prohibited by Applicable Law. Lender all() IhaII not exercise this option if: (a) <br />BOItOWer C8U1Cl1 to be subMitted to Lender information required by Lender to evaluate the <br />intended transferee u if a new loan were being made to the tnUlsfereej and (b) Lender reasonably <br />deterTninea that Lender's security will not be impaired by the loan assumption and that the risk of <br />a breach of any covenant or apeement in this Security Instrument is acceptable to Lender. <br /> <br />To the extent permitted by Applicable Law, Lender may charge a reuonable fee as a <br />condition to Lendcr'. consent to the loan assumption. Lender also may require the transferee to <br />sign an uaumption agrecmmt that is ac:ccptable to Lender and that obligates the transferee to keep <br />all the promises and agrecmmCl ftlade in the Note andia this Security lilItrUment. Borrower will <br />continue to be oblipted under the Note and this Security Instrummt unless Lender releases <br />Borrower in writin8. <br /> <br />If Lender exercises the option to require immediate payment in ftlll, Lender shall give <br />Borrower notice of acceleration. The notice .hall provide a period of not les. than 30 days from <br />the date the notice is given in accordance with Section I S within which Borrower ftlust pay all <br />sum. .ecured by this Security llIItnJtnenl IfBottower fails to pay these sums prior to the <br />expiration of this period, Lender may invoke any remedies permitted by this Security Itlstrument <br />without fbrther notice or demand on Borrower. <br /> <br />p_ 313. .... <br />"'20;{J) <br />
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