|
<br />I
<br />
<br />I
<br />
<br />84,-Oo.~182 4
<br />"'(3'f~epting Q.Iotation aM Converting.
<br />If I ,,'ish to convert IlIJI loan at the fixed rate aM payment quoted to me, I lIDSt notify the
<br />mte Ivlder of IlIJI acceptance in writing. Such mtice ImJSt be received by the note Ivlder at least 15
<br />days before the Payment: Change IIote aM ImJSt be accanpmied by the conversion fee.
<br />
<br />( 4) Reduction of TIme Periods.
<br />If the PaJ1lll!'lt Change Notice is not sent by the note Ivlder at least 35 days before the
<br />PllJIlIB1t Change IIote, then each time period stated above shall be reduced by five days.
<br />
<br />(D) Tenuination of ComIersion Option.
<br />If tbe Fixed Rate Inlex ever ceases to be Illblished or made available by F!MA, or if F!MA ever
<br />ceases quoting and purchasing mortgage 10!1llS on the basis 1llllii reflected by the Fixed Rate Index, then
<br />this conversion option shall teminate and this section 6 shall cease to have any effect. !kJwever,
<br />if by that time, I have already accepted a quotation and cCJnll&ted IlIJIloan, such tenuination will not
<br />affect me. ~ fixed rate aM paJ1lll!'lt 1Ni1l, in that event, remain in full force and effect.
<br />
<br />(E) Legal Limitatiro on Rate.
<br />If the fixed rate to be quoted on any PaJ1lll!'lt Change IIote exceeds the max:IJIun charges or rate
<br />allooel by applicable law, then conversion will not be all<Xoled for thi<t PaJ1lll!'lt Change IIote. The
<br />mte Ivlder may offer a lower rate or charges than required or pennitted by this section in order to
<br />canply with such legal limitations, l:ut is mt required to do so.
<br />
<br />(F) PrepaJ1lll!'lt.
<br />If, after conversiro, I make any prepaJ1lll!'lt under sectiro 6, it will be governed by section 6
<br />except that the iDUlt of 1lIJI1OO<It:hly paJ1lll!'lts will not be changed.
<br />
<br />(G) Provisions Not Applicable after Comersion.
<br />After cOO\JIersion of tt'tis loan, sections 2 (except for t..'1e: first !:tal sentenceS), 3 (~-for
<br />(A)), 4, and the last ~ sentences of section 6 shall not apply."
<br />
<br />L
<br />
<br />D. UNIFORM DEED OF TRUST; GOVERNING LAW; SEVER.\lIIIi~1'X
<br />
<br />lliit:oDII CoIioeoaot 15 of the SecuritY InstPaeotisaBllledto, ~ _,~:
<br />
<br />15. Un1fona lad of Trl.8t; GoverniqJ. Law; ~tY' . . ~.f@ '~',.'
<br />mifollll CIMiDII1ts for natloaal .-' and. OOIt"UlifOllll ~.~$, .
<br />to CiDltitubl a mifollll securitY 1nstNEnt ~,~ ...'.'.
<br />be gouemed by federal law and tIE law of the~~.:1\l..
<br />E!IIeIlt that any provision or ~ of this Sec1.ititf lnstnllll!Pt or,
<br />law, 8lIl:h cooflict ahall rot affect other provisiooa.of tqiS~.
<br />can be g1wneffect wit!vut the~1icting~, and to this en4,tbI?c.
<br />Instnali!llt and the Note, ~ ~,to. bI! ~. .". '
<br />
<br />E. TRANSFEROF THE PROPERTY OR A BEm:F~CIAL I~TEltEST I\'; BQ~Q~~,
<br />
<br />ll1ifom Caveoant 17 of the SecuritY Inat~ is lIIIIf:I1ded to read as followa.:
<br />
<br />17. ~e.r:..~ ~... ~ or a~i<:1a1.~.. iJl"..~~........~4!-~:"'"lllI#.,~.t~,
<br />~. or ~.~ ~.. is so,ld or,' t,r~~~,(orifa~fJ".i~li~~t..~,~!~
<br />so1aCli; tr&llllferred,~~. is ,m!: a ~iUpet;~)t4tW~~s,~wd,t\:e9.~~'
<br />~~, at~~s optiQa,. ~,~ the,......~.liy ~~tY~R~hibil,
<br />llIIIlidiatd.y due and payable. ~, this optloli shall B:!t. be ellel'~by, ~ if~ ill
<br />DX ~ri&ed by Feileral l..8w.
<br />
<br />It l.axIer ~~,.SI,l(;h option to~~,. ~shal1l1l1lU.Bo~ B:!tice of ~~ti<x! in
<br />8CCO~ with 1lehigrllpb 14 herecf. Su!:hootice'9ha.1.1 provide a period of rot less than 30 ~
<br />fran the <late tlle rotice is uailed within wh1chllo~ !llIlY pay the. ~ declared due. If lIort'Olollr
<br />
<br />
<br />B. CHARGES; LIENS
<br />
<br />Unifom Cov8Iant 4 of the Security Instnment is aaII!Ilded to read as fo1lcae:
<br />
<br />4. <11arges; Liens. Borrower shall pay all taxes, assessDI!Ilts, and other clmges. f:lDes and
<br />iqlositions attri1:utable to tIE Property ~ may attain a priority aver this Sec:urity'JnsttuiIent,' ,
<br />and 1easeInld paJlllll!l1ts or gromd rents, if any, in the I1BIll1er provided uaier JlIIl'1I8ElIIlh2hl!p!D.f':,or,
<br />if not paid in such IIllIIlIEl', by Borrower making payment, when due, directly totlEpBYI!lf!.~;
<br />Borrower shall ~tly furnish to l.erJder all notices of aDKllII1ts dueunderthis~>'aoli;J,nd;~~ii'
<br />evmt Borrower shall make l"lJ1lll!'lt directly, Borrower shail pmllptly furnishto,~.~ '
<br />evidencing such paJ1lll!'lts. Borrower shall Pl"Oq)tly discharge any lien toihic:b l1l!&,pr;ioti~
<br />Security InstrllDl!nt provided, that Borrower shall rot be requiredto~..lID,fJ!!lI;!\
<br />as Borrower: (a) shall agJ;el! in wrltingto thepaJ1lll!'ltof the o~'c~",bj" .
<br />lIIIDEr acceptable to laO!r; (b) shall in good faith~estN:h,llen;liy,
<br />enfOIt:EIII!l\t of such lien in, legal proceedings~in theopinianof,~;',
<br />enfOIt:Ellll!llt of the lien or forfeiture of tIE Property or any,"pert'tbi!l:!lOf.;or..(c)
<br />the \older of such lien an agrement in a fom satisfactOl:Y to l.erJder'SI!bl>~
<br />SecuritY Inst~. '
<br />
<br />If l.erJder detemdnes that all or any part of the. Property is SlJbjei:t;tl)';a'~;
<br />priority aver this SecuritY Instrlllll!l1t. l.erJder shall~jBo~".tll)t:1l:!e':..' '
<br />Borroer shall satisfy such llen or take ale or 1IIllre of theactions,setfortlE
<br />of the g1~ of mtice.
<br />
<br />C. NOTICE
<br />
<br />lhifom. Cov8Iant 14 of the SecuritY InstNll!Qt is-.Jed to'n..a.as"f<))l~:X
<br />
<br />14. ~tice. &a:ept for any ootice required "'8PPl4~~,to'
<br />any ootice to Borrawer ~. for in thisSec\lrity ~~,sbijil
<br />mailing it by first class.1IIli1 ~ toBor:'t'oWl!rat~
<br />as Borrawer lJI&'j de8ignlI.te. by ootic:e to leader88~j~r
<br />be gi~ by first class.1IIli1 to leader's ~atated~.or:'
<br />desigpate by ootice to ~ 88 provided '~. ~j~':'. ' ,.,.,. ".,x
<br />InstruEot shall be deeald to ha\ll!! been g1wn to Borrawer" or leoder~;g1.~:i;,
<br />designated 1Erein. . .' .,. ~'. '.
<br />
|