HomeMy WebLinkAbout0991 a.iJrr~.rd tu kiurruwrr at ihr E'ruprrty AdJrrtiti ur at tiuch othrr address ati Borrowrr may des~gnatr by noure to Lendtr as
pru~ i~1rJ hrrein, and (bf any nu~irr ti~ l.rn~irr shall hr g~~•rn by first clatis mail to l.ender's addrrsti ~t:?ted hrrr~n or tu ~uch
~~thrr .~~i~i«.. a~ l.rnJer ma~ ~1r~ign:s~~ b~ ni~licr ti~ BurruH•er a. pr~~~i~ird herrin. Any n~,lire prov~~lyd fcir ~n t~ti~ti Srrurity
In.trumrn~ ~hall tk ~ir~mrJ t~~ ha~r hrrn gi~rn tc~ Burrciwrr ur Lender w hrn gi~en ~n thr mannrr drtiignatrd hrrcin.
D. UNIFOR~f SECURITI' INSTRURIFNT; GUVr:RNING I.AVV; SFVERABILITY
Unifurm C~~~rn:~nt I S of thr Srrur.h~ Instrumrnt is amendr~l to read ~s folluws:
15. Uniform Security Instrument; Governing l.aw; Se~erability. This form of Securit}~ Intitrumrnt rombinrs uniform
cu~cn:uits fur nahunal utie and n~,n-uniti~rni ro~rn:~nts with limi~rd ~ariation~ by~ junsdict~un to constitute a uniform
srrurit~ ~ntitrument ro~~ring real ~roprrty. This Srcunty lnstrument tihall be go~~erned by federal law and the law of the
juris~iiruun ~n whirh the Proprrty is la~atrd. !n the rvrnt th:~t any pru~itiiun ~~r clau,e of this Security Instrument or the
Nutr runfli~ts with a~plic~hlr law•, tiu~h ronflict ~hall n~it :~fTert other pnnisiuns of this Security Instrumem or the Note
whirh ran he gi~rn rfTert ~~ithuut the rimflic[ing rn~~itiiun. and to thiti end thr proriti~c~ns of this Se~unty Intitrument and
the Ni~te are de~lared to be sr~~erable.
E. TRANSFF.R OF THE PROPERTY UR A BENEFICIAL I~TEREST IN BORROVVER
Uniform Cucenant 17 of ~he S~rurity Instrument is amended to read as follaNti:
17. Transfer of the Prc?perty or a Beneficial Interest in Borrow•er. If all ur .ui}~ rart of the Proprrt~ or an interetit therrin
iti sald ur transferred by [3urmK•er (iir if a beneticial interest in E3c~rrow~er is tiold or trantiferred and f3orrow~er is nc,t a natural
prnan or pc:nunti but is a corFx~ratton, partnrrship, trust c~r uther legal entity~) without Lender's pnor written ronsent,
exrluding (a) thr rrrati~m ~~f a lirn or enrumbranre sutx,rdinate t~ this Serurity Instrument w•hich doeti not relale ~o a
tran~fer of rights ~~f ~k~u~ancy in the propert}•, (b) the ~reatiun of a purchase muney serurity interest for household
.?~~liancc~, (c) a tr.in~fer b~' ~ie~ ise, detirent ur b}' operation of law u~n the dr~th of a joint trnant or fd) the grant c~f any
le;?uh~?Id interrs~ uf thrre yran e~r letis nut containing an optic~n to purchase, Lender may, ~t Lender's ortion, declare all
the sums serured by thiti Sr~urit}• Instrument to be immediatel~ due and pay~able.
!f Lender exerciti~ti surh ~~~ti~~n tei arcelerate, Lender shall mail f3orrow~er notire of arcrleration in arrordanre with
raragra~h l~t hereof. Su~h natice sh3ll pro~ide a penod of not less than 30 da}'ti from the da~e the notire is ma~led w~ithin
h~rh Borraw~er ma~• ~a~~ the tiums declared dur. If Borrow•er fails to pay such sums prior to the expiration of surh ~riod,
Lrndrr ma~, w~th~~ut further notire or demand on E3urruwer, in~uke an}~ remedies permitted b} ~aragraph 1 R hereof.
Lender may roment to a sal~ c~r transfer if: (1) Borrow~er rausc~ te~ be submitted to Lender inf~~rmation reyuired by~ Lender
tc~ e~aluate the tr.insfrrre a~ if a ne« loan wrre txing made ta the transferee; (2) Lender reationably determines that
Lender's ururity will nut be im~aired and th~t the ri~k of a breach uf an~• co~rnant c~r agreement ~n thit Secunty
In,trument i~ ar~e~table; intrre.t is ra~able im the sumti serured b}~ this Securit} Instrument at a rate acceptable to
Lrnder; (4) rhangeti in the terms of the Ne~te and th~~ Serurity~ Instrumer~t reyuired b}' Lender are made, inrluding, for
exam~le, pericxiir adjustment in the interetit ratr, difTrrrnt hn~l payment date for the loan, and addiuc~n of unpaid interest
ta ~rinci~al; and (5) the trantiferre s~gn, an a~~umption :~greement that i~ acceptable t~ Lender and that obligates the
tr~ntiferrr to krer all thr ~mmities and a~reemrntti m~~ir in the N~ne and in this S.~urit~~ Imtrument, a~ mociified if
reyuired h} Lender. Tu the eztent permitted h~ a~~licahlc law, 1_ender :~k~i ma~ rh~rge a rrau~nable (ee as a rc~ndition to
Lender's r~~nsent t~~ am~ tiale ar trantifrr. ~
Burrutier ~~~II rununue tv br ublixated under :he Nutr an~3 Ihis Secunty Intitrument unless Lrnder rrleasc~ Borrow•er in
~criting. ~
covFti~~~r nr i.~:Tr ~
tii,n-Un~furm Cu~rnant 21 ~~f the Serurit~ Intitrument ("Future Ad~anrrti") i, deleted.
I
~ G. LC~Ati CHARGES
; If the laan serured by the Serunt~~ Intitrument iti ~uhJect t~~ a law which setti matimum li~an rhargeti, and that law~ i~ finall}~
~ interpreted s~~ that the interrtt e~r ~ther loan rharges c~~llerted or te~ be rollected in c<~nnection «ith the loan exceed
~ }~ermitted limitti, then: (1) a~~~~ surh li~an rharge ,hal! be rrduced b}~ the amount necc~wr} t~~ redure the rharge to the
~ ~rmitted limits: and (2) an} sums already rollected from E3~rrower w•hirh rticerded permitted limits will be refunded to
Burmwer. Lender ma~ ch~~i~se t<~ make Ihis refund by redu~ing the principal oued under the tiote ~r b}~ making a direct
~ pa}•ment t~~ B~rrow•er. If a refund redures prinri~~l, thc redurtion wil! be treated as a rartial pre~a}~ment under the Note.
~ H. LEGISLATION
~ If, after the date hereuf, enartment ~r expiration af ~}~~licahlr IaHti ha~e the effert either of rendering the ~ro~isions of the
~ tiote, the Serurity Instrument or thi~ Graduatrd Ya~ ment R~der (other than this paragraph H) unenforreable according to
~ their termti, ~~r al) or an}~ ~art o(the wms tierured herebp unrollectable, as otherwite provided in the Security Instrument
~ and this Graduated Yay~ment Rider, ~r of dimin~shing the ~alue of Lender's security~, then Lender, at Lender's option, may
declare a!I sum~ tiecured b}• the Serurit}• Instrument tc~ be immediatel}• due and payable.
!
p
fv WiTtit,~ Wt~E.kF.u~-. B~~rr~~~+~er hatiereruted thi~Graduated F'a}ment itider. ,
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~ • 1 i~ : ~ ~5 . . . (Seal)
~QS3 ROBERT J. V I LARO I
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~ ! Borrower
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~ G I NA S. V~L.ARD I Borrower
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.........................................................(Seal)
~ rBorrower
(Sign Ong~nal OnIYI
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