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Interest Capitalization Provisions. Borrower aad Lender agree that the
sums which become outstanding, unpaid and owing because of the effect
of the Interest Capitalization Provisions and become a part of the
unpaid principal balance are in effect and are deemed to be future
advances of principal from Lender to Borrower and as such are secured
by the lien of the Security Instrument as if such sums were advanced
from Lender to Borrower on the date of the execution hereof. At no
time shall the total outstanding ~lpaid balance of the loan exceed 125~
of the ori~inal principal amount of the Note. It is the iatent of
$orrower and Lender thaL the sums which become outstanding, unpaid and
owing because of the effect of the Interest Capitalization Provisions
are deemed to be "future advances" as provided in Se~tion 697.04,
£lorida Statutes (1981) and be aad are secured by the lien of the
Security Instrument as of the date of the execution hereof as set forth
in such sLaLute.
C. CHARGES; LIENS
Uniform Covenant 4 of the Security Instrument is amended to read as
follows;
4. Charges; Liens. Borrower shall pay all taxes, assessments, and
other charges, fines and imposiLions attributable to the Property which
may attain priority over this Security Instrwnent, and leasehold
payments or ground rents, if any, in the manner provided under
paragraph 2 hereof or, if not.paid in such manner, by Borrower making
payment, when due, directly to the payee thereof. Sorrower shall
promptly furnish to Lender all notices of amounts due under this
paragraph, and in the event Borrower shall make payment directly,
Borrower shall promptly fumish to Lender receipts evidencing such
payments. Borrower shall promptly discharge aay lien which has
priority over this Security Instrument; provided, that Borrower shall
not be required to discharge any such lien so long as Borrower: (a)
shall agree in writing to the payment of the obligation secured by such
lien ia a manner acceptable to Lender; (b) shall in good faith contest
such lien by, or defend against enforcement of such lien in, legal
proceedings which in the opinion of the Lender operate to prevent the
enforceanent of the lien or forfeiture of the Property or any part
thereof; or (c) shall secure from the holder of such lien an agreement
in a form satisfactory to Lender subordinating such lien to this
Security Instrument.
If Lender determines that all or any part of the Property is subject to
a lien which may attain a priority over this Security Instrument,
Lender shall send Borrower notice identifying such lien. Borrower
shall satisfy such lien or take one or more of the actions set forth
above within ten days of the giving of notice.
D. NOTICE
Uniform Covenant 14 of the Security Instrument is amended to read as
follows:
14. Notice. Except for any notice required under applicable law to be
given in another manner, (a) any notice to Borrower provided for in
this Security Instrument shall be given by delivering it or by mailing
it by first class mail addressed to Borrower at the Property Address or
at such other address as Borrower may designate by notice to Lender as
provided herein, and (b) any notice to Lender sha1Z be given by first
class mail to Lender's address stated herein or to such other address
as Lender may designate by notice Lo Borrower as provided herein. Any
notice provided for in this Security Instrument shall be deemed to have
been given to Borrower or Lender when give~ in the maaner designated
herein.
(FLj FLEX RIDER ~Rd
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