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~ ~ lt;l`~1t37`.v PSL 2347 =
.
RIDER `
TO
DEED OF TRUST, MORTGAGE
OR DEED TO SECURE DEBT
TF.IS RIDER is made this 22ndz day of June , 19 83 , and ~
is inco~ora`~c' inta ann sh~11 be aeemed `,.o a;nend and supp1Ement that ;
ce_~t?.i~ Deed o~ Trust, Mortgage or Deed to Secure Debt ("the Security
Z~s~m~n~^) cf ev ORTYa~TNR
FeT O[fSA~]D uSL•'v~F7aH[~~1~~S~YD ~ the
pri.~al z~ou:.~ of~ ..F......SunkisE'Se~'~3i~e"~d~~~a~,y. ~OLLARS
(5 . . 4 37 ~ : ~ . . . ) , c,zven by me tn . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
("Lender").
L~ addi~cn `~.o the covenants and acreements r.ade in t'~e Securi.ty
Inst=umeat, Borrower and Lender further covenant and agree as fa]lows:
TRAt~S=ER OF THE PROPERTY; ASSUMPTION.
rc~w-i±hs`,~nding the provis~ns of any ather Riders to L,he Mortgage,
Deed of Trsst, or Deed to Secure Debt or the provi9~ns of the Addendums
to t~e ~~-~.e or the p~-ovi.~ns of the No`..e concer:Ling `~e Lender's opti~n to
acc~e_~,.e the sums due under the promi.ssory note, Lender agrees that it
sha]1 not exerese its option `•.o declare all sums immediately due and pzyabie
in ~ne even~ tr:at all or any part of. t~e property whi~h is securi..'y for this
t:ct~e, or a~~ ir.`..erest the~ein, is sa~.d or transferred by Borrower wirhout
Lenc~e.='s p~or wri*~en consent, and Lenoer agrees ~he Ncr,;e obliga~n may ,
be ~ssu~ec by a tsansferee of the real pro~e~ty whi+ch is the subject of the
SecL~:.-y Ins`,.n:men~ on the fa]]owing terr.ts and con'~.ons:
1. Znncer may reauire the prospective transfe:ee of the prope=-ty to
me~t i~s th~n current underw~~g crit.eria so as ta assure Lender that t~-~e
tr~nsiere~ ?S CL'2~1SEf3 ta ~ncur ~nd repay the then outstaacing p~ncipa].
b~L-~ce o_` the lc~n on the terms and cordit.ons set fcr~n in `~he Nv`~.
Lence~'s underwb,'~ng criteria sha11 not require quali~ca~.on gu`d~iines any
r~ore ~es~.c`,~ve than that reauired by the Federal Home Lozn No~gage
Co~po=~
+.~n and the Federai Na~nzl Mortgage Asso~:.~ation in the ~ea where
; ~,he p=-o~*~y is lncated at the time the assumpti~n is made.
! 2. Lender may requise payment of a lnan assump,`_i.~_:.on fee, which fee
k shal? no= b~ ~n excess of 1$ of the ou~s'-~nd.ing l~n b~nce at the ~e of
~ assu;n~'-~,_,on fic~r orig~-na1 loan amounts of 5108,300.00 or less, and nc~ in
~ excess o~ 1.5$ of the outstan~.ing l~n b~ance at the time of assump~n for
~ o~c-,-'~~al l~n anounts of $108, 301. GO or over.
~ 3. IPnner may require payment of a reasonabl~ transfer fee upon
assumv'-~,~n o` ~he loan . Such fee sha11 nat increase the ~ntPrest }'~ld ~
Lencer on the lc~n, and shall only be in such a~r,ount as is n~cess~y tr~
cx~npeasat~ Lender for admuzi_s:rative costs reasonably incurred in
e~ec~l~nc the change.
e. Provided L~.hat the co:~di~ons set forth in Paragraph t~os. 1 and 2
above ~re met, if such condi+..ians are reques'-,.ed by Ler.der to be met,
Lenner acrees that (1) it sh~ll not ~ncrease the in`~erest rate ~n the l~an,
exce~t as t~ i~crezses that may be set forth i~ the original pror.iisso~-y no'~~,e
~nd any addendums there`~.o rela~ng ta interest rz`e aCjuS-Jnen`~.s for
ac~;si~.b1~ =a;p l,oans, and (2) i~ shz11 not nec~re all sums ~ue under the
r~-,.,~ ~n~ec.s.`~?y cue a~~ payabl~ by r~son of the tans~er of prope~-ty or
~ ~n i^.:~_es`.: t~e=ei.n.
~
~
~ gy ~.5ning this, Borrower agrees to all of the above.
~ 612'769
~
~ J~J,a 2~ Q~ '"c 5' ~
~ ~ Ja:rtes E. Cow.sert
~ F~~,E.f ~ :.s,~: . / .
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CL~F~~' i~ f?e~ le ~a;,~ser~
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