HomeMy WebLinkAbout0975 . ~ • .
H. LOAN CHARG83
If the loan. secured by the Security~Inatru~eut is suti~ect to a lsv
which sets ~axi~~u loau chsrges, and tbat lav is fiwlly iaterprated so
that the fnterest or other loan ch~rge• collected or to be collected in
connaction vith the loan exceed pesvitted li~ita, then: (1) sny such
loan charge shall be reduced by the a~ount necessary'to reduce the
charge to the pe~csitted li~its; and (2) any s~a~s slready collected fro~
Borrower which e~cceeded per~itted li~its ~+ill be refunded to 8orrower.
Leader ~ay choose to ~ake thia refund by reducins the principal o~+ed
under tlu Hote or by ~sking s disect pay~enL to Borrover. If a rrfund
reduces principal, the reduction vill be trested as s partial .
prepayoent under the Note.
I. Legislation _
If, after the date hereof, eaact~ent ar expiration of applicable law
have the effect either of rendering the provisions of the Note, the
Security Instruweat or this Graduated Pap~eat Rider (other thsn this ~
paragrsph H) uneoforceable according to Lheir ter~s, or all or any psrt
of the su~s secured hereby uacollectible, as_otherWise provided in~the
Security Instru~ent and this Gradusted Pay~ent Rider, or of dioinishing
the value of Leader's serurfty, thea Leader, at Lender's optioa, ~ay •
declare all sw~s secured by the Security Instruoeat to be is~ediately
due and paysble. . ~ -
IN WITNSSS i~REOF, Borrower has eze~uted this Gradusted Payeeat •
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