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85006151
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Last modified
10/18/2011 4:20:37 AM
Creation date
4/1/2008 5:31:13 PM
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DEEDS
Inst Number
85006151
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0 <br />D. UNIFORM SECURITY INSTRUMENT; GOVERNING LAW; SEVERABIL.ITY <br />Uniform Covenant IS of the Security Instrument is amended to read as follows: <br />15. UiW*m seearhy (nsp+atneat; Governing Lary; Severabllity. This form of Security Instrument combines uniform covenants for national use <br />and nonuniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. This <br />Security lnstrum =t 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, TRANSFER 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. Trttr/er of Ik Property or a Beneficial 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 />tram iferee: and (b) Lender reasonably determines that Lender's security will not be impaired by the loan assumption and that the risk of the <br />breach of any covenant or agreement in this Security Instrument is acceptable to Lender. <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 />Lender may also require the transferee to keep all the promises and agreements made in the Note and in this Security Instrument. <br />"If Lender 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 />dime. 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 he obligated under the Note and this Security Instrument unless Lender has <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 />Noe or by making a direct payment to Borrower. If a refund reduces principal, the reduction will he treated as a partial prepayment under the <br />Note. <br />IN WITNESS WHEREOF, Borrower has executed this Adjustable Rate Rider. <br />A <br />y' <br />IRf <br />y <br />C; <br />-�I <br />/ 'i (Sea]) <br />NANE -. �CH-� BORROWEIT -- <br />(sea] <br />MARSHA J. /SHOFF n"RROWER ' <br />(sea]) <br />BORROWER <br />)SIGN ORIGINAL ONLY) <br />m <br />E <br />t I • <br />»✓ <br />m <br />E <br />
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