Laserfiche WebLink
L <br />D. RFTY INSTRUMENT; GOVERNING LAW; SEVERABILITY <br />Unifott '* the Security Instrument is amended to read as follows: <br />15. Uttlftrat UM ft inUrusetrl; Govwt•ing Law; SrveraYitlty. This form of Security Instrument combines uniform covenants for national use <br />and non - uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. This <br />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 <br />provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of this <br />Security Instrument or the Note which can be given effect without the conflicting provision, and to this end the provisions of this Security <br />Instrument and the Note are declared to be severable. <br />E, TIMNSFEM OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER <br />Uniform Covenant 17 of the Security Instrument is amended to read as follows: <br />17. Trar/s of the Property or a leseflcW Interest in Borrower. if all or any part of the Property or an interest therein is sold or transferred <br />(or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, <br />Lender may, at Lender's option, declare all the sums secured by this Security Instrument to be immediately due and payable. However, this <br />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 <br />causes to be submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan were being made to the <br />transfers; and (b) Leader reasonably determines that Lender's security will not be impaired by the loan assumption and that the risk of the <br />broach of any covenant or agreement in this Security Instrument is acceptable to Leander. <br />To the extent permitted by applicable law, Lender may charge a reasonable fee as a condition to Lender's consent to the loan assumption. <br />Leader may also require the transfers to keep all the promises and agreements made in the Note and in this Security Instrument. <br />"If Leader exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof. <br />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 <br />due. If Borrower fails to pay such sums prior to the expiration of such period, Lender may, without further notice or demand on Borrower, <br />invoke any remedies permitted by this Security Instrument." <br />"Notwithstanding a sale or transfer, Borrower will continue to be obligated under the Note and this Security Instrument unless Lendet as <br />released Borrower in writing." <br />F. LOAN CHANGES <br />If the loan secured by the Security instrument is subject to a law which sets maximum loan charges, and that law is finally interpreted so <br />that the interest or other loan charges collected or to be collected in connection with the loan exceed permitted limits, then: (1) any such loan <br />charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (2) any sums already collected from borrower <br />which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the <br />Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment under the <br />Note. <br />71 <br />f- 30 <br />N <br />-4 <br />M <br />30. <br />n <br />-i <br />IN WITNESS WHEREOF, Borrower has executed this Adjustable Rate Rider. <br />(Seal) <br />HAROLD E.`SCHEER BORROWER <br />(Seal) <br />FRANCES F. SCHEER BORROWER <br />(Seal) <br />BORROWER <br />(SIGN ORIGINAL ONLY) <br />I <br />rr+ <br />C� <br />"f (Xi <br />1 <br />i <br />2 <br />I <br />