HomeMy WebLinkAbout0990 ~ ~s _'.s.~:Jw._: ..r.~r L. rY.~~ - _ : . , _ _ _ .
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~ S. UNIFORM SECURITY IN3TRUl~NT; GOVSRIdIHG I.AW; S8V8RABILITY
Uniforw Coveaant 15 of the Security Instrusent is aweaded to resd as
fo~loas:
15. Unifarw Security Instrwsent; Governing Laa; Severability. ?his
for~ of.Security Instrument cosbines unifor~ coveaants for aationsl use
and aonuaiforw covenants vith liaited variatioas by ~urisdiction to
constitute s uaiforv security instrument covering resl property. This
Security Instrwoent shall be governed Dy federal laW and the la?v of the
3urisdictioa in which the Property is iorated. In the eveat that aay
provision or clause of this 5ecurity Instruoeat or the I~ote conflfcts
vith applicable law, such coaflict shall not affect other provisiona of
this Security Instrument or the Note vhich can be given effect without
the conflicting provision, and to this end the. provisions of this .
Security Iastruoent and the Note are declared to be severable.
F. TRANSFER OF TNB PROPERTY OR A BBNEFICIAL INTBREST IN BORROfiBR
Unifors Covenant 17 of the Security Instruoeat is aseaded to read as
follows: ~
17. Transfer of the Property or a Beaeficial Iaterest ia Borrower. If
all or any part of the Property or aa interest therein is sold or
transferred by Borrower (or if a beneficial interest ia Borrower is
sold or traasferred and Borrower is not a natural person or persons but ~
is a corporation, partnership, trust or other legal eatity) without
Leader's prior written consent, excludiag (a) the creation of a liea or
encu~brance subordinate to the Security Iastru~ent which does aot
relate to a transfer of rights of occupancy ia the property, (b) the
cre$tion of a purchase moaey security interest for household -
appliances, (c) a transfer by devise, descent or by operation of lav
upon the death of a joint tenant or (d) the grant of any leasehold
interest of three years or less not containing an option to purchase,
Leader may, at Lender's aption, declare a11-the sums secured by this
_ Security Instrumeat to be imeediately due and paysble.
E If Lender exercises such option to accelerate, Lender sha21 mail .
F Borrower notice of acceleration ia accordance with paragraph 14 hereof. ~
~ Such notice shall provide a period of not less thaa 30 days fro. the . ~
date the notice is mailed wit6ia which Borrower ~ay pay the sums
declared due. If Borrower fails to pey such sums prior to the
expiration of such period, Lender may, without further notice or de~aand
oa Borrower, invoke any remedies persitted by paragraph 18~hereof. ~
Lender Aay coasent to a sale or transfer if: (1) Borrower causes to
, ~ be submitted to Lender information required by Leader to evaluate the
f transferee; (2) Lender reasonably determines that Lender's security
! - will not be impaired and that the risk of a breach of any covenant or
~ agreesent in this Security InstruoenY is acceptable; (3) interest is
~ payable on the sums secured by this Security Instrument at a rate
acceptable to Lender; (4) changes in the teras of the Note and this
Security Instrument required by Lender are made, including, for
example, periodic adjustment ia the interest rate, a different final
payment date for the loan, and additioa of unpaid iatere'st to
~ principal; aad (5) the transferee signs an assumption agreeaent that
is acceptable to Lender and that obligates the transferee to keep all
the proaises and agreements ~ade in the Note and in this Security
Instruvent, as aadified if required by Lender. To the extent peroitted
by applicable lav, I.ender also may charge a reasonable fee, as a
~ coadition to Lender's consent to any sale or transfer.
~ Borrower will continue to be obligated under the Note and this Security
k Instruaeat unless Lender releases Bo=rower in writing.
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` G. COVENANT DELETED , ~
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~ Non-Uaifors Covenant 21 of the Security Instrunent ("Future Advances")
is deleted.
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(FL) FLEX RIDER BQ~~VV P~6E ~
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