Laserfiche WebLink
<br />201001115 <br />DpC ID #: 000211574497].2009 <br />The Revocable Trust Trustee(s) shall provide timely notice to Lender promptly upon notice or knowledge <br />of any revocation or termination of the Revocable Trust, or of any change in the holders of the powers of <br />direction over the Revocable Trust Trustee(s) or the Revocable Trust, as the case may be, or of any change in the <br />holders of the power of revocation over the Revocable Trust, or both, or of any change in the trustee(s) of the <br />Revocable Trust (whether such change is temporary or permanent), or of any change in the occupancy of the <br />Praperty, or of any sale, transfer, assignment or other disposition (whether by operation of law or otherwise) of <br />any beneficial interest in the Revocable Trust. <br />B. ADDITIONAL BORROWER(S). <br />The term "Borrower" when used in the Security Instrument shall refer to the Revocable Trust, the <br />Revocable Trust Trustee(s) and the Revocable Trust Settlor(s), jointly and severally. Each party signing this <br />Rider below (whether by accepting and agreeing to the terms and covenants contained herein or by <br />acknowledging all of the terms and covenants contained herein and agreeing to be bound thereby, or both) <br />covenants and agrees that, whether or not such party is named as "Borrower" on the first page of the Security <br />Instrument, each covenant and agreement and undertaking of "Borrower" in the Security Instrument shall be <br />such party's covenant and agreement and undertaking as "Borrower" and shall be enforceable by Lender as if <br />such party were named as "Borrower" in the Security Instrument. <br />C. CONVENTIONAL LOANS ONLY. <br />The paragraph titled Transfer of the Pro er or a Beneficial Interest in Borrower in the Security Instrument <br />is amended in its entirety to read as follows: <br />Transfer of the Property or a Beneficial Interest in Revocable Trust. <br />As used in this paragraph, "Interest in the Property" means any legal or beneficial interest in the Property, <br />including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, <br />installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future <br />date to a purchaser. If, without Lender's prior written consent, (i) all or any part of the Property or an interest in <br />the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is <br />sold or transferred), or (ii) there is a sale, transfer, assignment or other disposition of any beneficial interest in <br />the Revocable Trust, Lender may, at its option, require immediate payment in full of all sums secured by this <br />Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by <br />Applicable Law. <br />If Lender exercises this option, Lender shall give the Borrower notice of acceleration. The notice shall <br />provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within <br />which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior <br />inter Vivos Revocable Trust Rider <br />1372R-XX (03/p9) Page 3 of 4 <br />