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13. t~AIV6R8
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I and any other pereon who has obligetivna under this Note Maive the rights o~ ~
presentment ana notiae o~ distar~ar. "Pr~eeentment" m~ns the ric,~t ~a require .
the Note 8older to de~aa~nd p~ya~ent o! saouu~ts due. "Notioe o! Dishawr" means
the right to requite the Not~ Holc3er b~ give notiae that amounte due hsve not
~ ~a. . . . .
~a. ~zs t~o~cs s~a~ eor A s~av~u~r n~s~ar~r
In additfon to the protectio~ns giv~en to the Note Holdec ur~der thia Note, a
Mortgage, Deed of Trust, or Deed to Secure Debt ( the "Sac.vrity Inatrtanent" )
with a Graduatecl Payaient Rider, dated the sanie day as thia Note, p~ottecta ~
the Note eolder from pa?ssible Losses wbich might result if i cb nat loeep tlie
praaises which I mahe in this Note. That Security I~stnmer~t describea haw
. and under what oonditions I may "be required to malce imtnediate payrnent in
full of all anaunte z owe under this Note. Some of those c~onditfons are
described as fiollo~~ss ' ~
~ ~
"Transfer of the Property or $ Beneficial Intereat in eorrower.
~ If all or arYy part of the Property ot an intereat therein is eold ;
or transferred by Bor~r (ar if a benefieial interest in eo~rrawer =
is sold or transferred and Borrower ia not a natural person or
persons but is a aorporation, gartnership, trust or.other Iegal
entity) aithout Lender's prior written ca~aent, e~ccludinq (a) the
creation of a lien ar en~ranee suborainate bo riqhts of viceupancy
in the property, (b) the creatien of a purchase money security
interest for househ~ld apQ~lianees, (c) a tranafer by cjewise, des~ent -
or by operatfan of law upon the deatb of a joint tenant or (d) the
grant of ar~r leasehold interest of three y~ears af less rot aonteining
an option t~o purchase, Lender may, at Lencleer's aption, declare all
the sums secured by this Security Instrument bo be inmediate~y due
aryd payable. ~ . '
I f Lender exercf ses such aption to accelerate, Lender sha~ll mail
Horrawer notiee of acce2eratton in ac~ordanee with paragraph 14
- hereof. Such notic*e shall provide a period of nofi less ttian 30
days fraa the date the notice is mailecl ~rithin which Borrower may
. pay the sums c3eclared due. I£ eorrower fails to pay such sums
prior t~o the expiratian of sud~ period, Ler~de~r may, without further
notice or demand on Borrawer, invoke any remediea permitted by -
Paragra~h 18 hereof.
~
I.er~der may aonsent to a sale or transfer if: (1) Barrnw~er causes to ~
be sub~aitted t~o Ler~de~c fnfonmatia~ required by Lenaer t~o evaluate the ~
transferee as if a new loan were being matle to the transferee; (2) -
Lender reasonably determines that Lender's security will not be
impaired and that the risk oF a breach of any eo~venant or agreement
in this Security InBtnaaent is aeceptablet (3) interest is payable
on the sums ~ec,vred by_ this Secvrity Instruaent at a rat~e aaoeptable
to Lender; ( 4) changea in the terms of the tJot~e ard this Security
Instrument required by Lender are made, includfng, for example,
periodic adjustment in the fnterest rate, a different final payment
date for the loan, .ancl addition o~ unp~aid interest b~ prineipal and
( 5) the transferee signs an asstmptian agreement that is aceeptable ~
to Lerxler and that abligates the transferee tp laeep all the p~t~omises°
and agreements made in the Not~e and in this Secvrity Instnnnent, as ~
mod i f f ed i f requ i red by Lenc3er. Z+o the extent penoitted by appl iC-
able law, Lender als~ may d~wrge a reasa~ahle fee as a aa~ditian to •
Lender's aonsent to ~y sale vr transfer.
Borrower will eontfnue to be obligated under the Note ancl this ~
Security Instrument unless Lender releases Borrower in writing."
( FL ) FIFX NO?IE
1016 Page 5 of 6 '
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