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201101755
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201101755
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Last modified
3/4/2011 4:15:47 PM
Creation date
3/4/2011 4:15:46 PM
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DEEDS
Inst Number
201101755
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20110175� <br />B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER <br />Section 18 of the Security Instrument is amended to read as follows: <br />Transfer of the Property or a Beneficial Interest in Borrower. As used in this <br />Section 18, "Interest in the Property" means any legal or beneficial interest in the <br />Property, including, but not limited to, those beneficial interests transferred in a <br />bond for deed, contract for deed, installment sales contract or escrow agreement, <br />the intent of which is the transfer of title by Borrower at a future date to a <br />purchaser. <br />If all or any part of the Property or any Interest in the Property is sold or <br />transferred (or if Borrower is not a natural person and a beneficial interest in <br />Borrower is sold or transferred) without Lender's prior written consent, Lender may <br />require immediate payment in full of all sums secured by this Security Instrument. <br />However, this option shall not be exercised by Lender if such exercise is prohibited <br />by Applicable Law. Lender also shall not exercise this option if: (a) Borrower causes <br />to be submitted to Lender information required by Lender to evaluate the intended <br />transferee as if a new loan were being made to the transferee; and (b) Lender <br />reasonably determines that Lender's security will not be impaired by the loan <br />assumption and that the risk of a breach of any covenant or agreement in this <br />Security Instrument is acceptable to Lender. <br />To the extent permitted by Applicable Law, Lender may charge a reasonable fee <br />as a condition to Lender's consent to the loan assumption. Lender may also require <br />the transferee to sign an assumption agreement that is acceptable to Lender and that <br />obligates the transferee to keep all the promises and agreements made in the Note <br />and in this Security Instrument. Borrower will continue to be obligated under the <br />Note and this Security Instrument unless Lender releases Borrower in writing. <br />If Lender exercises the option to require immediate payment in full, Lender shall <br />give Borrower notice of acceleration. The notice shall provide a period of not less <br />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 <br />fails to pay these sums prior to the expiration of this period, Lender may invoke any <br />remedies permitted by this Security Instrument without further notice or demand on <br />Bo rrow er. <br />231068 <br />MULTISTATE ADJUSTABLE RATE RIDER - ARM 5-2 Fannie Mae 4-2/5-2/6-2 ARM <br />Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Fof m 3111 1/01 <br />VMP � V11p'P822: (0804) <br />Wolters Kluwer Financial Services Initials: / ge 3 of 4 <br />
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