HomeMy WebLinkAbout0958 B. CHARGFS; 1.1~ NS
Unif~rm Covenant ~3 of' the Sc~urity Instrument is am~nded to read as follo~~~s:
4. Charges; l.iens. Borro~ver shall pay all ta~es, asu~sments, and other charges, fines and im~wsitions attributable to the j
Pro~rt~~ whirh may attain a priority o~~er this Security Instrument, and leasehold payments or ground rents, if any. in the !
manner rovided under ~ £
p paragraph 2 hereof or, if not paid in surh manner. by Borro~~~er making payment, when due, ~
directly to the payee thereof. Borro~ver shall promptly furnish to Lender all notices ot amounts due under this paragraph,
and in the event Borrower shall make payment direcdy. Borro~ver shail promptly furnish to 1_ender receipts e~•idencing such
payments. Borro~rer shali promptiy discharge any lien which has priority over this Security Instrument; how•ever, Borrower i
shaH nat be required to discharge any such lien so long as BorroH~er: (a) shall agree in writing to the payment of the '
abligatior~ setiured by such lien in a manner acceptable to Lender; (b) shall in good faith contest such lien by, or defend
against entorcement of such lien in, legal praeedings which in the opinion of Lender operate to prevent tFie enforcement of
the lien or forieiture of' the Property or any part thereof; or (c) shall secure from the hotdec of surh lien an agreement in a
form satisfactory to Lender subordinating such lien to this Security Instrument.
If Lender determines that a!I or any~part of the Proper~y is subject to a lien w~hich may attain a priority over this Security
lnstrument, Lender shaU give Borro~ver a notice identifying such lien. Borrower shall satisfy such lien or take one or more
of the actions set forth above ~sithin ten days of the giving of' the notice. ~
~
C. NOTICE '
. ~
i
Uniform Covenant 14 af the Ser-urity Instrument is amended to read as follows: ~
14. Notiee. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower
provided for in this Securitp lnstrument shall be given by delivering it or by mailing it by ~rst class mait to Borrower at the ~
Propert~ Address or at such other address as Borrower may designate by notice to Lender as provided herein, and (b) any !
notice to Lender shaU be given by tirst class mail to Lender's address stated herein or to such other address as Lender may ~
designate by notice to Borrower as provided herein. Any notice provided for in this Security lnstrument shal! be deemed to ~
have been given to Borro.ver or Lender when given in the manner designated herein. ;
f
D. UNIFORM SECURITY INSTRUMENT; GOYERNING LAW; SEVERABILITY ~
:
Uniform Covenant 15 of the Security Instrument is amended to read as follows:
15. Uniform Security Ir~strument; Governing Law; Severability. This form of Security lnstrument combines uniform
covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform
security instrument covering real property. This Security instrument shall be governed by Federal law and the law of the
jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the
Note contlicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note
which can be given effect without the conflicting provision, and to this end the provisions of this Security lnstrument and
the Note are declared to be severable. ~
~
E. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER ~
~
Uniforn Covenant 17 of the Security Instrument is amended to read as follows: ~
:
17. Traasfer of the Property or a Beneficial Interest in Borrower, If all or any part of the Property of an interest therein is
sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) •
without Lender's prior written consent, Lender may, at Lender's option, declare ail the sums secured by this Security ;
Instrument to be immediately due and payable. However, this aption shal! not be exercised by Lender if exercise is not
authorized by Federat taw.
If Lender exercises such option to acceterate, Lender shall mail Borrower notice of acceleration in accordance :vith
paragraph 14 hereof. Such notice shall provide a period of not tess than 30 days from the date the notice is maited within
w~hich Borrower may pay the surns declared due: If Borrower faiis to pay such sums prior to the expiration of such period,
Lender may, without further notice or demand on Borrower, invoke any remedies perrnitted by paragraph 18 hereof.
Notwithstanding a sale or transfer, Borrower will continue to be obligated under the Note and this Security Instrument
unless Lender has released Borrower in writing.
F'. LOAN CHARGES
IT the loan secured by the Security Instrument is subject to a law which sets maximum loan charges. and that law is t~nally
interpreieci so that the interest or other loan charges collected or to be collected in connection with the loan exceed permitted
limits, then: (1) any such loan charge shall be jeduced by the amount necessary to reduce the charge to the permitted limit;
and (2) any sums already collected from Borrow•er a~hich exceed permitted limits will be refuncled to Borrower. Lender may
choose to make this refund b~~ reduring the principal oKed under the Note or by making a direct payment to Borrower. If a
refund reduces principal, the reduction wilt be treated as a partial prepayment under the Note.
. 8~K ~J~ PAGE ~
. . ~ ~ y
- ~ ~