HomeMy WebLinkAbout0983 DUE-QF~~'I`ItANSF~R RIDER ~
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NO'Y`ICF.~ THlS RIDBR ADD6 A PROVaS10N '1~0 'x'HE BF~'IJRTYY INbTRU:4iENT ALLOWII+IG THE
I.N~tDBR TO AEQUIRS AN INCRBASB IN THE NOTB INT'SREb`? ~tATE AND TO CHANGE 07'jIEft N[YlE ~
TBAMS UPON TftANSFBR OF THB PROPpR1Y.
Tbls Due-O~-Traa~'a Itider i~ made this ....23rd.... dsy of .June ~9..83., and is
inoorpar~ted into and:ha!! be deamed to ama~Q aad suppleaient the Mortpge, Deed af Trwt, or Dad W Socun Debt (the
''~curi~ty lnsawma~t") of tlu,~ame date `ivea by the uudeni~aed (tbe "Borrower") to cecnre Borrower'a Note to
,Th~..l~w~~~!. Store(F'lo?~~~fl.~...~AtCr (the "Leadsr")
ottbe wne data (the "Nota") and a~vertng the property deecribed ia the Security Instrumeat and lacated at:
322 SW Duva21 ~venue, Port St. Lucie, F'loritla 33A52
(Prop~rty Addnss)
IriMBNDED CAVSNAIv7. In additian to the oovenants aad agraments msde in tht Security Instrument, Borrower ~
~nd L,ender t~rther covtasat and a~ca aa follows.
A. TRANSFER UF THF ~'1tOPERT'Y; ASSUMPTION
Uniform Covenant 16 of the Security In~tiumart u uneaded to read as follows:
16. Trwter oi W Property; AstumPdoa. If atl or any p~rt of the Pmperty or aa interest therein is sold or transferred by
Borno~rer without Lmda's prior writtw conseat, eacluding (a) the c.reation of a lien or encumbrance subordinnte to this
Secwity Inatrumeat which doa not reLate to a transfer of rights of occupency in the property. (b) the creation of a purchase
moaey iaurity ~aterat for houset?~Id ~pplianoes„ (c) a trantfar by devise, descent or by operation of law upon the death of
a joint ta?ant or (d) tbe ~rant ot~ny leasehold Iatarest of three years or less not containing an option to purchase. Lendu
may~ at La~d~'s option. declan ~?ll the ~ums aocured by this Security Instrument to be immediately du~ and payabla
If Leader exercius such opiion to aocxlerate, Lender shall mail Horrower notice of acceleration in uccordance v?~th
~nph t2 hernof. Such notice shall provide s period of not less than 30 days from the date the notice is mailed within
which Horroaer msy pay the sun~s dcelued due. If Bornoaer faila to.pay such suraa prior to the expiration of such period,
~ Leudtr may, witbout fLrthv notice or demand on Borrower~ invoko any r~mmedies perraitted by paragraph 17 hereof.
I.eader may constnt to a sate or transfer if: (1) 8orrower causes to be submitted to Lender information roquired by Lender
to evatuste the tesnsfera at if a new loan were being made to the transferee; (2) Lender reasonably deternunes that
Lender'a security will n~ 5e impaired and that the riak of a bre~ch of ~ny covenwt or agramenc in this Security
Instrumeat ia aaxptabk; i3; u?tereat will be payable on the sums secured by this Security Instrument at a ratc aa:eptabte to
Leader; (4) chuiga in tho tenms of the Note and this Security Instrument required by Lend~r are made, iactading, for
examplc. periodic adjuatme-,t in the iriteresi rate~ a dif~erent 6nat payment date for the loan, and sdditeon of unpaid intGrest
to principal; and (S) the tranaferre aigns sn assucnption agreament that is acceptable to I.ender snd that obligates the
tr~tn:fera to keep all the promises snd agreements made in the Note and in t5is Security Instrument, as modified if
required by Lwder. To the extent permitted by applicable luw, Lendu also may charge a reasonable fa as a condidon to
L~ader's canaent to any satt or tn~nafcr.
Bomower will coatinue to be obligated under the Note and this 5aurity Instrumeni unlas Lender releasc,s Borrower in
writing.
IN WITNESS WHEREOF. Borrowtr has ~aecuted this Dut-On-Transfer Ridu.
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~GarYG~~Oy~eZ1 -Borrower ~
.i~E-:E::~...~...~... U..c?c.cr:s°.l~ .(seal> t
Beth M. Cowell -eo.rower
. ~ . :''i . . . . . . . , . . . . . . . . . . . . . . . . . (Seal)
Warren Cowell
. . (Seal)
J tine Cowell -
t3$~ Jt~. ~N i= 02 ~
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BOUK ~IJeJ PAGf ~+L7~
DU6rON?TRANSFE~t RIDCR-Nwt~ In?pro~em~nt-21 /81-it~lMA UNIfORM INSTRU~EM
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