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HomeMy WebLinkAbout0973 f • i r ti I I . f Due-On-lh~ns~et Rider Notioe: Thts Rider adds a provisbn to tfie Security Instrument albwing the L.srKlar to requiro an in~xesse M the no~s in~srest ra~e and to cl~ange other rwte terms upon transfer of the property~ This Du~On-Transfer Rider is made this ~day of 19 sT and is incaporated into and shall be deemed to amerxl and sup~lerrient the Mortgage. Deed of Trust, or ed to Secure Uebt (the "Security Instnxnent") of the same date gnren by the undersigned (the "Borrawer") to secure Borro~w~ers Note to RARNETT BANK OF ST . LUCIE COUNTY (the "Lender') of the same date (the °Note") and oo~vering the propertY described in the Security Ir~strument and located at: 5607 Buchanan Drive, Fort Pierce, FL. 33450 ~ cProaertr Address) Amerxled Covenarn. In addition to the oovenants and agreenr~ents made in the Security Instnxrient, BoRO~wer arxi.Lender further covenant and agree as fdlaws: a lransfe~ of rne ~openy; Assump~on ~ Uniform Covenani 16 of the Security Insirurnent is amended to read as fdlows: ! 16. lFansfer of the Property; Assumptlon. tf all or any part of the Property or an interest therein is sold or Uansferred by Borrow~ ~ without Lenders prior writter oonsent, excluding (a) the creation of a lien or encumbrance subordinate to this Security Instrument ~ which doeS not relate to a transfer of rights of occupancy in the property. (b) the creation of a purchase money security interest for ~ hoi~sehold appliances. (c) a transfer by devise, descent or by operation of law upon the death of a joint tenant a(d) the grant of arry' E isasehold interest d three years or less not containing an option to purchase, Lender may, at Lenders option, deGare all the ~ ~ secured by this Sc~urity Instnxr~ent to be irYxnediately due and payable. I If Lender exercises such opti~on to accelerate, Lender shall mail Borrower notice of acceleration in accordance with paragraph 12 hereof. Such notice shall Provide a period d not less than 30 days hom the date the notice is mailed within which 8orro~wer may pay the s~ns dectared due. If Borrow~er faiis to pay such sums prior to the expiration of such penod, Lender may, without (urther notice or dernand on Borrower, irnoke arry remedies permitted by paragraph 17 hereof. . Lender may oonsent to a sale or transfer 'rf :(1) Borrower causes to be submitted to Lender information required by Lerxier to evaluate the transferee as rf a new ban were being made to the transferee; (2) Lender reasonaby determines that Lenders security will not be impaired and that the risk of a breach of arry covenant or agreerrient in this Security Instrurr~ent is acceptable; (3) interest will be payable on the sums secured by this Security Instnxr~ent at a rate acceptatile to Lender; (4) changes in the terms of the Note ~ and this Security Instrument required by Lender are made, inGuding, for exarriple, periodic adjustment in the interest rate, a differeM final payrnent date for the loan, and addition of unpaid interest to principal; and (5) the transferee signs an assumption agreemertt that is acceptabie to Lender and that obtigates the transferee to keep all the promises and agreerr~ents made in the Note arxl in this Security Instrument, as modified rf reguired by Lender. To the extent permitted by aRplicable law, Lender also may charge a reasonable fee as a condition to Lenders consent to any sale or transfer. - Borrawer wi1! continue to be obligated under ttie Note and this Security Instnxnent unless ~encier releases Borrower in wnting. 6•~ia7~~ ± ~ ~ IN WITf~SS WHEREOF, Borrawer has executed this Due-On-Transfer Rider. h ~ 6563'74 ~ ~ ~ .Bq MAY 3p p3'13 fILEO ~EiVU ~'~:.i;;:.~0E0 ~ ST CIE ~ UUN i Y~f L K FILED ( ~ ~~,t_,~riK RS~ UCiE+G,r~ F~.. D Jy ? eo?~owe? ERj~1~$T YNE ~IL & ~ ~ L A C. HILLARD 8oro'"~` ~ ~e~ B~KYvI~ PAGE ~1, Due-On-Trans!er R.~der-Hane Improvernent-11!8'~NMA Unitam Instrument p~~ o'~x~~ •.ti. a~ YN?~ ~ R«~ ' - ' 'r~~^,~,.'?`= £"~m Y~ k.~~ 's~5':^0:'..