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Iaterest Capitalizstioa Provisioas. Borrower and• er agre t the
stu~s which becose outstaadiag, unpaid aad owing because of ttie effect
of the Iaterest Capitalization Provisions aad becose a part of the
unpaid principal bslance are in effect aad are deeoed to be future
advances of priacipal froa Lender to Borrover and as such sre secured
by tht liea of the Security Instruaeat as if such suas vere advaaced
fro~ Lender to Borrower on the date of the execution hereof. At no
ti~e shall the total outstanding uapaid balsnce of the losa eYCeed 125x
of the original priacipal a~ount of the Note. It is the inteat of
Borrover and Lender that the sues which beco~e outstanding, unpaid and
oWiag because of the effect of tl~e Iaterest Capitalization Provisions
are deesed to be "future advaaces" as provided in Section 697.04,
Florida Statutes (1981) aad be and are secured by the liea of the
Security Instru~ent as of the date of the ezecutioa hereof as set forth
in such statute.
C. CNARGES; LIENS
Unifo~ Covenaat 4 of the Security Instru~eat is a~ended to read as
follovs:
4. Charges; Lieas. Borroaer shall pay all tazes, assess~ents, aad
oth~r charges, fines aad ispositions attributable to the Property Which
may attain priority over this Security Iastrueeat, and leasehold
payoeats or grouad rents, if aay, in the mamer provided uader
paragraph 2 hereof or, if not paid in such sanner, by Borrower sakiag
payseat, when due, directly to the payee thereof. Borrower shall
pro~ptly furnish to Lender all aotices of a~ounts due uader this
paragraph, and in the eveat Borrower shall sake payoent directly,
Borrower shall pro~ptly furnish to Lender receipts evideaciag such ~
payments. Borrower shall pro~ptly discharge aay lien which has
priority over this Security Iastru~eat; provided,. that Borrower shall
not be required to disctiarge aaq such lien so long as Borrower: (a)
shall agree in writing to the pay~ent of the obligstioa secured by such
lien in a sanaer acceptable to Lender; (b) shall ia good faith contest
such liea by, or defend agaiast eaforce~ent of such liea ia, legal
proceediags which in the opiaion of the Leader operate to preveat the
enforcesent of the liea or forfeiture of the Property or aay part
thereof; or (c) shall secure froo the holder of such lien aa agreesent
in a fors satisfactorq to Lender subordinating such liea to this
Security Instrument.
~ If L~nder deteraines that all or any part of the Property is subject to
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j a liea which may attain a priority over this Security In~truseat,
~ I.ender shall send Borrower notice identifying such liea. BorroWer "
! shall satisfy such liea or take one or aore of the actions set forLh
i above within ten days of the giving of aotice.
i
€ D. NOTICS - -
€
z Uaiform Covenant 14 of the Security Iastrumeat is aoended to read as ~
~ follows:
~ 14. Notice. Except for any notice required under applicable law to be
~ givea in another manner, (a) any notice to Borrower provided for in ~
~ this Security Instrumeat shall be givea by deliveriag it or by sailing
~ it by first class mail addressed to Borrower at the Propertq Address or
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~ at such other address as Borrower may desigaate by aotice to Leader as
~
~ provided herein,- and (b) aay aotice to Lender shall be given by first
3 class mail to Lender's address stated herein or Lo such other address
R as Lender may designate by notice to Borrower as provided hereia. Aaq
f
; notice provided for in this Security Instru~ent shall be deeaed to have
been given to BorroWer or Leader when given in the manner designated
~ hereia.
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~ BOOK c~h~7~ PAGE ~7~7
(FL) FLEX RIDER " ~ ~ - ~ '
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