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Iaterest Capitslizatfoa Provisions. Borrower aod Leader sgree thst the
sues which becoee outstaading~ uapaid snd dWing becsuse of the effect
of.the Interest Capitalizstioo Provisioas and beco~e a part of Lhe ~
uapaid principal balaace are ia effect aad sre dee~ed to be future
advances of principal frou Lender to Borrower aad.as such are •ecured
by the lien of the Security Instrw~ept aa if such su~s were advanced
fro~ Leader .to Borrower on t4e date of the executioa hereof. At no
~ tise shall the total outstandiag unpaid balaace of the loan exceed 125x -
of the original principal a~wunt ~of the Note. It is the inteat of
Borrower and Lender that the suws which beco~e outstaading, uapaid and
owing because of the effect of the Interest Capitalizatioa Provisions
are deeoed to be "future advaaces" as provided in _Sectioa 697.04, :
~ Florida Statutes (1981) aad be and are secured by the Iiea of the
Security Instrument as of t6e date of the executioa hereof as set .forth
in such statute.
C. CNARGBS; LIBNS
Uaiforv Covenant 4 of the Security Instru~eat is a~ended to read as -
follows: ~
4, Charges; Liens. Borrower shall pay all taxes, assessoeats, and .
other charges, fines and ivpositions'attributable to tbe ~roperty which
may attain priority over this Security Instruseat, and leasehold
paysents or ground reats, if aay, in the ~unaer provided under
paragraph 2 hereof or, if not paid in such aanner, by~~orrower saking
paysent, whea due, directly to the payee thereof. BorroWer shall
promptly furnish to Lender all notices of aeouats due uader this
paragraph, and in the event BorroWer shall oake payoeat directly,
Borrower shall provptly furnish to Lender receipts evidencing such
payments. Borrower shall prosptly discharge any lien which has . ~
priority over this Security Iastrument; p=ovided, that Borrower shall
not be required to discharge aay such lien so long as Borrower: (a)
shall agree in writing to the pay~ent of the obligatioa secured by such
lien in a~anner acceptable to Lender; (b) shall in good faith contest
such lien by, or defend against enforcesent of such liea in, legal
~ proceedings which in the opinion of the Lender operate to preveat the
enforceoent of the lien or forfeiture ~of the Property or aay part
; thereof; or (c) shall secure from the holder of such liea aa agree~ent .
. in a form satisfactory to Lender subordiaatiag suc6 lien to this -
Security Instrument.
If Lender deteriaines that all or any part of the Property is subject to
a lien Which ~ay attain a priority over this Security Instrument,
I.ender shall send Borrower notice~ ideatifying such lien. Borrower
j shall satisfy such liea or take one or more of the actions seC forth
above within tea days of the giving of notice.
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` D. NOTICE
Uaifora Covenant 14 of the Securitq Instruu~nt is amended to read as
~ follows: . - ~
~ 14. Notice. Except for any notice required-under applicable law to be
givea in another ~anner, (a) any notice to Borrower provided for ia -
this Security Instrwsent shall be givea by delivering it or by sailing
it by first class mail addressed to BorroWer at the Property Address or
at such other address as Borrower oay designate by notice to Leader as
~ provided herein, and (b) any aotice to Leader shall be given by first
class mail to Lender's address stated herein or,to such other address
w ' as Lender may designate by notice to Borrower as provided herein. Anq
~ notice provided for in this Security Iastrusent shall be deeoed to have ,
been given to Borrower or Lender whea given in the manner designated
~ hereia.
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(FL) FLEX RIDER 60~tJVV P16E V_L7~~
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