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HomeMy WebLinkAbout0993 , . . ' . ' ~ ~ ~~i~~ , , ~ Vlica B. UNIFOR!! SECURITY INSTRUl~NT; GOVERNINQ LAW; SEVERABILITY ~ i Unifors Coveaant 15 of tbe Securitq Iastrument is amtipded to read as fallows: 15. Uniform Security Iastru~nent; Governing Law; Severabilitq. This forv of Security Iastrwseat co4biaes uaifosm covenaats for aatioaal use sad aoauaiforo coveasnts aith li~ited variations by jurisdiction to . coastitute a uaifora security iastrumeat coveriag real property. This Security Iastru~ent shall be goveraed by federal law and the laW of the jurisdictioa ia which thc Property is located. In the event that aay ~ provisioa or clause of this Security Instrumeat or the Note conflicts with applicable law, such coaflict shall not affect other provisiona of t this Security Instruseat or the Note which cun be givea effect without the coaflictiag provision, and to this end the provisions of this Security Iastrua~ent and the Note are declared to be severable. - F. TRANSFER OF 1'~ PROPERTY OR A BENEFICIAL ~~~!~1 BORROWER Uniforai Covenaat 17 of the•Security Iastrument is•avended to read as follows: 17. Traasfer of the Property or a Beneficial Iaterest in Barrower. If all or anq part of the Property or an interest therein is sold or transferred bq Borrower (or if a beaeficial iaterest in Borrower is sold or transferred aad Borrower is aot a natural persoa or persoas but is a corporation, partaership, trust or other legal entity) without Lender's prior written coaseat, excluding (a) the czeatioa of a lien or eacuabrance subordinate to the Security Instru~ent which does aot relate to a transfer of rights of occupancy ia the property, (b) the ~ creatioa of a purchase ~oaey secuzity interest for household appliances, (c) a tzansfer by devise, desceat or by operation of liw upoa the death of a joiat teaant or (d) the graat of aay leasehold interest of three yeara or less not contaiaiag aa optioa to purchase, Leader isay, at Lender's optioa, declare all the sw~s secured by thi.s j Security Iastru~eat to be irediately due and payable. ~ . ; If Lender eaercises such option to accelerate, Leader shall oail . Borrover aotice of acceleratioa in accordance with paragraph 14 hereof. Such aotice shall provide a period of aot less than 30 days fro~ the dat~ the notice is wiled vithin which Borrower say pay the su~s ! declared due. If Borrower fails to pay such suvs prior to the ~ expiration of such period, Lender oay, without further notice or desaad ~ on Borzower, invoke any reudies per~itted by paragraph 18 hereof. i z Lender may consent to a sale or traasf~r if: (1) Borroaer causes to be submitted to Lender informatioa required by Leader to evaluate the E tranaferee; (2) Leader reasonably determiaes that Leader's security - 5 will aot be i~paired and that the risk of a breach of any covenant or ~ agree~ent ia this Security Iastru~nt is acceptable; (3) interest is ~ payable on the suas secured bq this Security Instruveat at a rate ~ acceptable to Leader; (4) changes in the terss of the Note aad this ~ Security Instrumeat required by Lender are made, iacluding, for ~ exaaple, periodic adjustmeat ia the interest rate, a different final ~ paymeat date for the loaa, and additioa of unpaid iaterest to ~ principal; and (S) the traasferee sigas aa asswaption agree~eat that ~ is acceptable to Leader aad that obligatea the transferee to lceep all ~ the prosiaes and agree~eats a~ade ia the Note aad .ia this Security ~ Instru~ent, as ~odified if required by Leader. To the extent persitted ~ by applicable lav, Leader also may charge a reasonable fee, as a _ condition to Leader's coaseat to any sale or transfer. ~ - Borrower will continue to be obligated uader the Note and this Security : Instruseat unless Lender releases Borrover ia writiag. ~ ' G. COVENANT DELETED ~ ~ Non-Uaifors Coveaant 21 of the Security Iastrument ("Future Advances") ~ is deleted. ~ ~ ~ K [ F. S (FL) FLEX RIDER 800KtJV~ P1G~ VV~ Page 5 of 6 - - _ . . Y. .