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i. \OTICE OF CHA:~GES ~
The \ote Holder will mail or deliver to we a notice of any .
changes in the Full Payment Amount and my monthly payment before
the effectiva date of any change. The notice will include
informntion required by law to be given aae."
B. INCREASES I\ U~IPAID PRI~CIPAL BALANCE TO BE SECURED. ~
Borrower and Lender recognize that because of the operation and effect
of the provisions of the ;~ote (the "Interest Capitalization Provisions"),
the unpaid principal balance of the loan evidenced by the ivote may exceed .
the original indebtedness of $45,000.00 referred to ot? page one of the~
Security Instrument. Borra;er and Lender agree that this Security ~
Instrument is given not only to secure the payment of the original
indebtedness e~idenced by the ~ote and the other matters ree~eerred to on page
one of the Security Instrument, buc also to secure any increases in such
principal balance arising by the effect of the Interest Capitalization
Provisions. Borrower and Lender agree that the sums which become +
outstanding, unpaid and a.ing 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 Instrwaent
as if such swns were advanced from Lender to Borrower on the date of the
execution hereof: At no time shell the total outstanding unpaid balance of
the loan exceed 125: of the original principal amount of the Note. It is
the intent of Borra.er and Lender that the sums which become outstanding,
unpaid and owing because of the effect of the Interest Capitalization ~
Provisions are deemed to be "future ad~ances" as provided in Section 697.04,
Florida Statutes (1981) and be and are secured by the lien of the Security
Instrument as of the date of the erecution hereof as set forth in such
statute. . -
C. CHARGES; LIE~S
~niform Covenant y of the Securitr Instrument is amended to read as folloc.s:
4. Charges; Liens. Borrouer shall pa~ all taxes. assessments~ and other
charges. fities and impositions attributabl~~ to the Property which may attaiti
prioritS over this Securit} Itistrument. and leaset~old payments or ground
rents, if anS , in the manner prot•ided un~er paragraph 2 hereof or, if not
' paid in such manner, b~ Borrower making payment, when due, directly to the
' payee ttiereof. Borrower shall promptl} furnish to Lender all notices of
E amounts due under this paragraph, and in the event Borrower shall make
~
~ payment directly, Borrower shall pranptly furnish to Lender receipts
evidencing such payments. Borrower shall promptly discharge any lien which ~
~
~ has priority over this Security lnstrument; pro~?ided. 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 secuzed by such lien in a •
" manner acceptable to Lender; (b) shall ir~ 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 enforcement 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
~ 2ien which may attain a priority over this Security Instrument, Lender shall
~ send Borrower notice identifying such lien. Borro~rer shall satisfy such
~ lien or take one or more of the actions set forth above within ten days of
r the gicing of notice.
F:
D. NOTICE ~ -
s .
Uniform Covenant 14 of the Security Instrument is amended to read as
i ~ follows: -
~ 14. Kotice. Except for an~ notice required under applicable law to be
~ gi~~en ir?" anotner manner~ (a) any notice to $orrower provided for in this
~ Securit~- Instrutuent shall be given by delivering it or by mailing it by
~ first class mail addressed to Borro~?er at the Propert3 Address or at such
~
(FL) PLE.l' RIDER - 4
11/83 .
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