HomeMy WebLinkAbout0972 aJiirc-ssrd to Borruv?~er at the Propert~~ Addre~s ur at surh othrr adJresti as Horr~~wer may daigna~c by notice to l.ender as
providrd herein, and (b) any natirr to Lcn~rr tih~l) hr gi~rn by first r~a.s ma~l to Lrndc~'s addres~ stated herein or to such
olht~r address as Lender muy drtiigna~r h}~ nutirr tu l3orrowrr as pro~~Jrd hrrr~n. Any notice provided for in this Secunty
Instrument ~hall be dremrd Ic~ ha~•r brcn gi~rn tu Hurrowrr ur l.rndrr when givrn ~n Ihc manner dea~gnated herrin.
D. UNIFORM SECURlTY 1NS"TRUtitFNT; GOV~ RNING I.AW; SEVFRABILITY
Unifarm Covenant 1 S af the Security Inslrumem i~ amrndrd to read as foUuws:
1S. Unitorm Security Instrument; Gover~ing l.aw; Sererability. Thic fc~ra~ of Srrunty Instrument combina uniform
cuvenants tor national use and non-un~farm rovrnants with limitc~i ~~anaunns by ~urisdiction to constitute a uniform
seruriry instrument covering real proper~y. This Security Ins~rur.irm ~hall t~ governed by federal law and the law of the
junsdiction in which the Property is I~xated. ln Ihe evrnt that any pro~~~s~un or clause of this Securiry Instrument or the
Nute conflicts with applicable law, such a~nflict shall not afTe~t o~her pruvitions of thrs Security Instrument or the Note
w~hich can be gi~~en effeti:l without the ronfl~cting provtsiun, and to this rnd thr provisions of th~s Secunty Instrumrnt and
the Note are declared to be srverable.
E. TRANSFER OF TNE PROPERTY OR A BENEFICIAI. [NTEREST [N BORROWER
Uniform Covenant 17 of the Security Instrument ~s amrnded to read as fullows:
17. Transfer of the Property or a Beneficial lnterest in Borrower. If all ~~r any part of the Property or an interest therein
is sold or transferred by Bc~rrower (or ~f a beneficial mterc~t ~n Bc~rrow~er u~old ur tran.ferred and Borrower is not a nawral
person or persons but is a corpora~ion, partnership, trust or other legal en~~ty) without Lender's prior written consent.
excluding (a) the creation o~ a lien or encumbrance ~utxxdinate u~ this Secunty Instrument which does not relate to a
t~aalfer of rights of occupancy in the property, (b) the creat~on of a purchase money ucurity interest for househol~
appliances. (c) a transfer by devise, descent or by o~ration o( law u~n ~he death uf a ~om~ trnant or (d) the grant of any
leasehold interest of three years or Irss not ronta~ning an option to purchase, Lender may, at Lender's option, declare aU
the sums secured by this Security Instrument to be immediately due and payable.
If Lender exercises such option to arcelerate, Lender shall m~il Horrower notice of accrleration in accordance with
paragraph 14 hereof. Such notice shall pro.~ide a penod of not less than 10 days I~rom the date the not~ce is mailed within
which Borrower may pay the sums declared due. If Borrowr: fa~ls to pay such sums pn~~r te~ the expiration of such period.
Lender may, wrthout further notice or demand on Borruw~er. ~moke any remedies permitted by paragraph 18 hereof.
Lrnder may consent to a sale or transfer ~f: (1) E3orrow~rr causes to be submilted to Lender infi~rmat~on required by Lender
to evaluate the transferee as if a new~ loan were be~ng made 1o the Iransferee, (2) Lender reasonably determines that
Lender's security will not be impaired and that the ritik of a breach of any covenant c~r agreement in this Security
Imtrument is accep~able: (3) interes~ is payable on the sums serurrd by ~his Securny Instrument at a rate acceptable to
Lender; (4) changes in the terms of the Note and th~s Security lnstrument required by Lender are made, including. for
examplr, penodic adjustment in the interest rate, a difTerent fina) payment date for the loan, and addition of unpaid interest
to pnnc~pal; and (S) the transferee signs an assumpt~on agreement that ~s acceptable to l.ender and that obligata the
tr:~nsferee to keep all the promises and agreements made in the Nute and ~n th~s Secunty lnstrument. as modified if
required by Lender. To the eatent permitted by applicable law, Lender altio ma~• charge a reasonable fee as a condition to
Lender's consent to any sale or transfer.
Borrow•er wil) continue to be obligated undrr the Note and th~s Secunty Instrument unless Lender releases Borrower in _
w~riting.
F. COVENANT DELE'TED i
~ Non-Uniform Covenant 21 of the ~ecunty~ Imtrument 1"Futurr Ad~ancrti"1 deleted. ~
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~ G. LOAN CHARGES
If the loan secured by the Secunty Instrumen~ ~ti tiub~rct t~ ~ I~w~ w hich tir~ti maximum loan charga, and that law ~s finally _
mterpreted so that the interest ~r other loan rhargeti collerted ur tv be r~~llected in rnnnection with the loan excted
permitted limits, then: (1) any such loan charge shall be reduced by the amount necestiary to reduce the charge to the
permitted lim~ts; and (2) any sums already collected from Borr<~w~rr wh~rh exceeded perm~tted limits will be rcfunded to
Borrow•er. Lender may choose to make this refund by redur~ng the pnnc~pal owed under the Note or by making a direct
payment to Borrower. lf a refund reduces pnncipal, the reducuon w~ll be treated as a partial prepayment under the Note. :
H. LEGISLATION ~
If, after ~he date hereof, enactment or rxpirahon of appl~~able laws ha~r the rffect e~ther of rendenng the provisions of the
Note, the Serunty Instrument or th~s Graduated Paymcnt R~der (other than this paragraph H) unenforceable according to
their terms, or all or any part of the tiums secured hereby unrollectablc, as otherw~se provided in the Security I~strument
and this Graduated Payment R~dcr, or of d~m~nishing the value of Lender's secunty. ~hen Lender, at Lender's option, may ;
declare al) sums secured by the Secunty Instrument to be ~mmedialely due and payablr ~
Iti WIT!yESS WHf:Rt=c~F. Borrower has executed th~sGraduatrd Paymrnt Rtder.
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