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~ Iaterest Capitaliaation Provisions. Borrover and Leader a~ree that the
suos w6ich beco~e outataadfng, unpaid and owiag bec~use of the effect
of the Interest Capitalization Provisions aad beco~e a_part of the
unpaid principal Dalance are fa effect and sre deeaed to be future
advaaces of principal fro~ I~eader to Borrower and as such sre secured
by the lfen of the Security Instru~eot as-if such aurs Were udvanced
fro~ Leader to 8orrower on the date of the executioa hereof. At no
ti~e shsll the total outstandiog uapaid balaace of the loan exceed 125x
of the original priacipal aiwunt of the Note. It is the inteat of
Borrower snd Lender that the su~s which•beco~e outat~nding, unpaid and
owing because of tl?e effect of the Interest Capitalization Provisions ~
are deeaed to be "future advaaces" ~s provided in Sectioa 697.04,
Florida Statutes (1981) snd be and sre secured by tbe lien of the
Security Instruaent as of the date of the execution hereof as set forth
in such statute.
C. CAARGBS; LIBNS
Uaiforo Covenaat~k of the Security Iastru~ent is avended to read as
follows: ~ ~
4. Charges; Liens. Borrower shall pay all taxes, assess~ents, and
other charges, fines and i~positions attributable to the Property which
may attain priority over this Security Instru~aent, aad leasehold
payvents or ground reats, if any, in the ~anner provided uader ~
paragraph 2 hereof or, if not paid in such sanner, by ~orrower ~aking
paysent, whea due, directly to t6e payee thereof. Borrower sball
promptly furnish to Lender all notices of aaounts due ~nder t6is
paragraph, and in the event Borrower shall ~ake payoent directly,
Borrower shall pro~rptly furnish to Lender receipts evidencing such
payments. Borrower shall prosptly discharge aay lien which has
priority over this Security Instrument; provided, that Borrower shall
not be required to discharge aay such lien so loag as ~Borrower: (a)
shall~agree in writing to the paq~ent of the obligation secured by suc6
lien in a aanner acceptable to Lender; (b) shall in good faith coatest
such lien by, or defend against enforce~eat of such liea ia, legal
proceedings whic6 in the opinioa of the Lendeir operate to prevent the
enforceneat of the lien or forfeiture of the Property or aay part
thereof; or (c) shall secure froa the holder of such lien an agree~ent
in a form satisfactory to Lender subordinating such lien to this
Security Instrwaent. -
If Lender determines that all or any part of the Property is subject to
a lien whic6 may attain a priority over this Security Iastri~sent,
~I Lender shall send Borrower notice identifying such liea. Borrower
! shall satisfy such lien or take one or aore of the actions set forth
above within ten days of the giving of notice. .
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[ D. NOTICE .
~ Uniform Covenant 14 of the Security Instrument is aeended to read as
follows: .
14. Notice.~ Except for any notice required under applicable law to be
~ given in another manner, (a) any notice to Borrower provided for in ~
this Security Instrument shall be given by delivering it or by aailing
it by first class mail addressed to Borrower at the Property Address or
at such other address as Borrower o~ay designate by notice to Lender as
provided hereia, aad (b) any aotice to Lender shall be given by first
class aiail to Lender's address ststed herein or to such other address
~ as Lender may designate by notice to Borrower as provided herein. Any
~ notice provided for in this Security Instruoent shall be deemed to have
~ been givea to BorroWer or Lender whea given in the maaner desigaated
~ herein. .
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